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

[Richy_T]

However Jorge are using Universal time? or South American?

[EuroTrash]

A foggy cloud around us is threatening thunderstorms. It smells of freedom and misty rain, and it is soaking us wet, slowly and incessantly. 666.66, the infernal joke over and over, like a loop in a time machine. In the distance you can hear the dampened sound of a far away train...

[KeyserSoze]

i mean literally.. BULL s**t  

Pro Tip: "literally" does not mean "i really really mean it, like seriously"

[Sitarow]

[cbutters]

Continuation pennant happening? or something else?
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:flag_pennant_continu

Sharp Move: To be considered a continuation pattern, there should be evidence of a prior trend. Flags and pennants require evidence of a sharp advance or decline on heavy volume. These moves usually occur on heavy volume and can contain gaps. This move usually represents the first leg of a significant advance or decline and the flag/pennant is merely a pause.

This sounds about right.

[EuroTrash]

Expecting breakout on March 6th around noon UTC.

[KeyserSoze]

However Jorge are using Universal time? or South American?

I believe he's in the Jurassic time zone.

[JorgeStolfi]

Chinese Slumber Method prediction for Thursday Mar/06

Cesse tudo o que a antiga musa canta / Que outro valor mais alto se alevanta.
(Luís de Camões, Os Lusíadas (1572)
Trans.: Shut the fuck up, here is boss speaking.

Prediction valid for: Thursday 2014-03-06, 19:00--19:59 UTC (not before, not after)
Huobi's predicted price: 3872 CNY.
Bitstamp's predicted price: 633 USD.

Huobi

The red and green strokes are actual Huobi hourly prices.  The Huobi prediction for the next Slumber Time is the rightmost magenta rectangle.  The blue rectangle is the prediction for the last Slumber Time (see below). The light blue-gray rectangles are the previous predictions.  The orange and grey dots are the Slumber Points, the mean Huobi prices at 19:00 UTC every day. The albertosauri are the False points, the glyptodons are the True ones. The grey lines are trends fitted a posteriori to the True points. The orange line is the trend that was assumed for the prediction.

Bitstamp

The red and green strokes are actual Bitstamp hourly prices.  The dots, dinosaurs, lines, and rectangles are Huobi's Slumber Points, dinosaurs, trends, and predictions, scaled by the currency conversion factor R (6.40 for Feb/07--09, 6.12 for all other times).

Checking the previous non-prediction

The prediction that I told you yesterday that I would not make was

Prediction not posted on: Tuesday 2014-03-04, 23:40 UTC
Prediction was not valid for: Wednesday 2014-03-05, 19:00--19:59 UTC

Huobi's non-predicted price: 4050 CNY
Huobi's actual price (L+H)/2: 3956 CNY
Error: 94 CNY (~15 USD)

Bitstamp's non-predicted price: 663 USD
Bitstamp's actual price (L+H)/2: 668 USD
Error: 5 USD

NOTE: Dinosaurs are used only for descriptive purposes in the above charts because I was not able to ascertain whether their use for technical analysis and prediction has been patented by the user who first applied them for such purposes.  Hopefully the issue can be resolved and more advanced rpietila reptilians will appear in future issues.

[Walsoraj]

...
NOTE: Dinosaurs are used only for descriptive purposes in the above charts because I was not able to ascertain whether their use for technical analysis and prediction has been patented by the user who first applied them for such purposes.  Hopefully the issue can be resolved and more advanced rpietila reptilians will appear in future issues.

LOL. thank you, sir.

[KeyserSoze]

A foggy cloud around us is threatening thunderstorms. It smells of freedom and misty rain, and it is soaking us wet, slowly and incessantly. 666.66, the infernal joke over and over, like a loop in a time machine. In the distance you can hear the dampened sound of a far away train...

TRAIN!!!

[KeyserSoze]

...
NOTE: Dinosaurs are used only for descriptive purposes in the above charts because I was not able to ascertain whether their use for technical analysis and prediction has been patented by the user who first applied them for such purposes.  Hopefully the issue can be resolved and more advanced rpietila reptilians will appear in future issues.

LOL. thank you, sir.

Fuck... now I have to unignore him.  *sigh*

[Ivanhoe]

Now everything is so boring... What is the biggest bid wall in terms of USD you ever spotted on an exchange? I think there was a 1.2 million wall once on Mt.Gox, but i'm not entirely sure.

[tailor]

EDIT: oh and "news@bitcoinbreaknews.com" ... "mtgox return to customers the bitcoins!" I mean, come on

In other news: somebody set up us the bomb.

[aminorex]

Actually, Tailor, you may have a good point if you suggest that the BTC price is outpacing the building of the infrastructure...   Actually, I would consider those to be very decent kinds of arguments... but on the other hand to suggest that BTC has NO value or nearly NO value, fails to account for several innovations that bitcoin brings... beyond the mere payment processing system.. which is NO small innovation even by itsellf.

Naturlich! The price outpaces the infrastructure.  The probability of future infrastructure is being priced in. 
The current price should always be in excess of the current network value, as it discounts the future network value.

[keewee]

Now everything is so boring... What is the biggest bid wall in terms of USD you ever spotted on an exchange? I think there was a 1.2 million wall once on Mt.Gox, but i'm not entirely sure.

This one?

[KeyserSoze]

Not sure if this is completely resolved or still developing for other transactons, but kinda interesting...
http://www.reddit.com/r/Bitcoin/comments/1znnmr/warning_something_wrong_with_blockchaininfo_wallet/

[cbutters]

is it just me or is something about to happen?

[aminorex]

including billions of dollars of investment going into its infrastructure and its wider and wider network of acceptance and use.

Billions of dollars? Really? That's hype on a whole new level.

Really.  I can enumerate a billion in ventures without trying hard.  It's only a thousand millions, and a 5-10 million startup is begun practically every week.  Then there are miners, the foundation, numerous apps for every platform in currency, exchanges, miner manufacturers, purveyors of plastic, shopping sites, not to mention the dark net.  BTC turns over 6 times annually.  For each dollar of recurring cash flow multiple dollars of investment are rationally expected.

[aminorex]

However Jorge are using Universal time? or South American?

I believe he's in the Jurassic time zone.

Dimetrodon is early Permian.  Tyrannosaurus is  Cretaceous.

[aminorex]

Pro Tip: "literally" does not mean "i really really mean it, like seriously"

I actually looked it up at m-w.com and discovered, to my horror, that one of the accepted meanings of "literally" is now "not literally"