Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[ChrisML]

You guys realize we went from $400 to $700 in a week, right? At that rate, we'll be over $6000 in month.

Extrapolation, bitchez!

Indeed, will finnaly be able to afford a normal house and a normal car.

Get these cheap coins outta here  

[zyk]

Really fighting with me if I should buy now (80% of my safements) or not. Made the wrong decision @400´s and will not make another wrong one with buying or not buying.

Are you going all in?

[UnDerDoG81]

Really fighting with me if I should buy now (80% of my safements) or not. Made the wrong decision @400´s and will not make another wrong one with buying or not buying.

Are you going all in?

Yeah all in, that cash is now waiting for 6-8 weeks on stamp to transfered into bitcoins and I missed the good oportunities.

[zyk]

Really fighting with me if I should buy now (80% of my safements) or not. Made the wrong decision @400´s and will not make another wrong one with buying or not buying.

Are you going all in?

Yeah all in, that cash is now waiting for 6-8 weeks on stamp to transfered into bitcoins and I missed the good oportunities.

yep..every single charts tells you break - out ...BUY-BUY-BUY....   I only don´t know what for?

[adamstgBit]

 

[byronbb]

This rally will have some legs imo. 800k bitcoins need to be replaced.....

[UnDerDoG81]

I´m all in BTC, lets go down now like always :|

[zyk]

I´m all in BTC, lets go down now like always :|

if you got them out of bitstamp as one of the first.......just watch the show as they have the gox primium already against huobi 

[byronbb]

what if the person who posted http://pastebin.com/W8B3CGiN is actually a white hat and they are keeping all teh Goxcoinz nice and safe for us?

So this is what $750 million dollar code looks like.

[UnDerDoG81]

I´m all in BTC, lets go down now like always :|

if you got them out of bitstamp as one of the first.......just watch the show as they have the gox primium already against huobi 

I want to try my luck with daytrading, I bought @685, so I would be happy to sell @720´s 

[versace]

you bears got the cheap coins you wanted

hope you guys bought in while you could cuz we off 2 da moon now

[solex]

goxBTC-only holders now face a very difficult choice: replace goxxed btc with fresh purchases before the price goes to Mars, or focus on alts or give up on crypto completely.

[CoinDox]

Just a little more patience before the next leg up. 1, 2 or maybe 3 hours?

I think the whale waits for the bid sum to increase before attempting another pennant.

What do you mean attempting another pennant?

[Walsoraj]

Just a little more patience before the next leg up. 1, 2 or maybe 3 hours?

I think the whale waits for the bid sum to increase before attempting another pennant.

What do you mean attempting another pennant?

  You messing with me? 

[bassclef]

My humble attempt at TA.

Daily 5, 15, 30 EMAs clustering together in the not-too-distant future. 200 EMA riding the bottom. Perhaps a Gox-related event will be the catalyst.

Reminds me of when Rick Moranis' character is talking to the horse in Ghostbusters:

"Wait for the sign, then all prisoners shall be released!"

Well, the sign was reached, albeit a bit earlier than expected! During the past week we had a confirmed bottom bouncing off the 200 day EMA not once, not twice, but three times!

We haven't bounced off this line since October 2013 when Silk Road went dark. It was a decisive time for the markets as fears that the value of Bitcoin was largely supported by illegal activities were finally put to rest. We also bounced off the 200EMA in July 2013 after the summer run-up, precisely when the Winklevoss ETF news broke.

Now a similar situation appears as we face the failure and aftermath of Gox, but support has largely held fast, proving the resiliency of this market and optimism of the underlying technology. If that daily green candle means anything, exciting times are ahead.

[CoinDox]

Just a little more patience before the next leg up. 1, 2 or maybe 3 hours?

I think the whale waits for the bid sum to increase before attempting another pennant.

What do you mean attempting another pennant?

  You messing with me?  

Nope, I don't understand why you say they will attempt another pennant, since a pennant is really just another name for a consolidating range triangle formation. Do you mean to say that the whales are waiting for bids to pile up so that they can dump and break-out of the current pennant that is forming?

That would make sense to me, pump the market to new heights, beef up the bid side, so they have buyers for their coin on the way down.

[rocks]

goxBTC-only holders now face a very difficult choice: replace goxxed btc with fresh purchases before the price goes to Mars, or focus on alts or give up on crypto completely.

That has been exactly my thinking.

The Gox BTC disappeared into the market a long time ago and they were operating in a fractional fashion.

This means that the perceived money supply was larger than it actually was. People thought they owned coins they didn't in fact own and someone else was using. Now that the truth has come out the perceived money supply has been reduced by ~6%. MtGox people can either purchase the BTC that they wanted or exit. Exiting has already been priced in, but purchasing more drives the price up.

I'm inclined to think this could go higher in weeks/months. It takes time for people to accept the loss. Many and still in a denial phase shocked that their $10K or even $100K nest egg is gone, and think courts or something will get it back. As the realization and acceptance sets in, then new decisions have to be made given their new situation (which is BTC broke)

[CoinDox]

goxBTC-only holders now face a very difficult choice: replace goxxed btc with fresh purchases before the price goes to Mars, or focus on alts or give up on crypto completely.

That has been exactly my thinking.

The Gox BTC disappeared into the market a long time ago and they were operating in a fractional fashion.

This means that the perceived money supply was larger than it actually was. People thought they owned coins they didn't in fact own and someone else was using. Now that the truth has come out the perceived money supply has been reduced by ~6%. MtGox people can either purchase the BTC that they wanted or exit. Exiting has already been priced in, but purchasing more drives the price up.

I'm inclined to think this could go higher soonish.

So the average actors logic is this according to that line of thought: Oh man, I lost 15K worth of BTC. That was what I was willing to loose, it was only 1-2% of my total worth. Well, looks like I lost it. Now I need to spend 30K to buy the same amount of coins back (assuming they did not buy their coins at peak price).

If they do decide to buy-back in, (fear of missing the pump train), then they certainly would not try to recover all of their coins back. More logically, the thinking would go something like this.

Oh man, I lost 15K worth of BTC. That was what I was willing to loose, it was only 1-2% of my total worth. I want to enter into the market, but I am cautious, I don't want to get hurt again. This time, I will only put in maybe 5k and see how it goes.

So yes there might be some extra buyers, but not enough to continue a drive upwards long-term. Please note that this comment does not reflect my prediction for the price, as I still see there is more manipulation upward to be had. This is just a take on investigating your logic.

[JorgeStolfi]

Does anyone have an idea of how many active traders (by some definition of "active") there are in each exchange?

Huobi's CEO claimed 10,000, so my guess is less than 5,000 for Huobi and OKCoin, less than 1000 each for Bitstamp, BTC-e, and Bitfinex.

Too low?

[theonewhowaskazu]

Huobi's CEO claimed 10,000, so my guess is less than 5,000

lol