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

[micalith]

I think we will see 560 in the next 24 hours. if this is the sale of stolen coins, we could see lower. his is a natural 3 wave decline, and should pass wave A extreme (590)

Where would you recommend I go to best understand this waves A, C etc stuff I keep hearing about?

[surfer43]

If someone buys up to 640, we would be on our way up. People with a stake: buy more or people will start to panic sell as the price gradually slips away

[billyjoeallen]

I think we will see 560 in the next 24 hours. if this is the sale of stolen coins, we could see lower. his is a natural 3 wave decline, and should pass wave A extreme (590)

The 24h volume on bitstamp is still only 4705btc. If stolen coins were actually being sold, then you would start to see 6 digit volume numbers. Keep in mind also that over 3600 coins are mined per day. This obviously isn't stolen coins.  This is a different problem. It's called "nobody is buying".

I agree and I think it likely that many stolen coins were sold long ago, and kept prices depressed.

There are macroeconomic factors in play also. Relatively less money printing by the central bank, uncertainty on the Ukraine situation, lower wealth effect due to stock market pullback, etc.

[TERA]

If someone buys up to 640, we would be on our way up. People with a stake: buy more or people will start to panic sell as the price gradually slips away

Do you really think that setting the trend of the market is that simple and that us here on this thread have the power to do that? I think there are much bigger and more complicated forces at play and it wont make a difference.

[billyjoeallen]

If someone buys up to 640, we would be on our way up. People with a stake: buy more or people will start to panic sell as the price gradually slips away

How about I wait until after the panic and get my coins cheaper? The long term value of my stake is determined by fundamentals, not technicals.

[tarmi]

what stolen coins?

what did I miss?

[dreamspark]

Weve been primed to go down for a week or so now, the volumes have been terrible, the bid sum on stamp has gone from $20 million to $12 million (which is the lowest its been in a while). The fact is people arent buying but nobody wants to sell on such low volumes as whats the point when weve been in a $20 range for a week. It makes sense that we go down if you take out the whale that took us from $550 to $710 we would still be at a much more comfortable level and consolidating properly. The recovery from $400 was quick and violent and left people wondering whether that was really it.

[dreamspark]

what stolen coins?

what did I miss?

Reffering to gox coins if they were stolen but also to Flexcoin and the otehr exchange that has coins stolen.

[FTWbitcoinFTW]

Weve be.... t was really it.

Nice try
But total bullshit

[dreamspark]

Weve be.... t was really it.

Nice try
But total bullshit

Care to elaborate and add some padding to your opinion?

[ChartBuddy]

Explanation

[tarmi]

what stolen coins?

what did I miss?

Reffering to gox coins if they were stolen but also to Flexcoin and the otehr exchange that has coins stolen.

err, ok.


this has nothing to do with stolen coins. nobody is buying, and volume was very low, so this was expected.

[yrtrnc]

This shit is worse than Chinese torture! Are we going up or are we going down!! FUCK SAKE 

[chessnut]

I think we will see 560 in the next 24 hours. if this is the sale of stolen coins, we could see lower. his is a natural 3 wave decline, and should pass wave A extreme (590)

The 24h volume on bitstamp is still only 4705btc. If stolen coins were actually being sold, then you would start to see 6 digit volume numbers. Keep in mind also that over 3600 coins are mined per day. This obviously isn't stolen coins.  This is a different problem. It's called "nobody is buying".

I agree and I think it likely that many stolen coins were sold long ago, and kept prices depressed.

There are macroeconomic factors in play also. Relatively less money printing by the central bank, uncertainty on the Ukraine situation, lower wealth effect due to stock market pullback, etc.

I dont honestly think that stolen coins are being sold now. But why not, the volume has to start somewhere, and the night is young. The only reason why I bring it up is because if the stolen coins are sold on BTCe for examlple, the price could fall well below trend line resistance.

[hdbuck]

the more nervous and impatient, the more deep the dip will be

[FTWbitcoinFTW]

Weve be.... t was really it.

Nice try
But total bullshit

Care to elaborate and add some padding to your opinion?

No
I've better thing to do than made up some theory to fit my position

[dreamspark]

Weve be.... t was really it.

Nice try
But total bullshit

Care to elaborate and add some padding to your opinion?

No
I've better thing to do than made up some theory to fit my position

Dont speak at all then... This is a speculation thread, dont just call speculation bullshit because it doesn't fit your theory then not even elobarate on why, thats just infantile.

I said the bidsum has gone from $20 million to $12 million which it has and that one person or group of people pushed us from $550 to $700 in a few hours. People clearly aren't buying. None of that is bullshit so kindly leave your asinine replies for someone else.

[barbs]

I got some bids at 120 range.

No idea where this is goign to go - anything's possible.

[surfer43]

Step one: Ignore all FUD!
Step two: profit!

I've got some sell orders set in the 1200 range.

[hdbuck]

Step one: Ignore all FUD!
Step two: profit!

I've got some sell orders set in the 1200 range.

I would argue that its only once you reach previous ATH that it should skyrocket even moar.
Hence, i would certainly NOT set SELL orders at previous ATH but BUY orders