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Question: Apr. 30 Bitcoin Price
<$6,000 - 14 (8.1%)
$6,000-$6,500 - 2 (1.2%)
$6,500-$7,000 - 5 (2.9%)
$7,000-$7,500 - 3 (1.7%)
$7,500-$8,000 - 4 (2.3%)
$8,000-$8,500 - 10 (5.8%)
$8,500-$9,000 - 20 (11.6%)
$9,000-$9,500 - 22 (12.8%)
$9,500-$10,000 - 26 (15.1%)
$10,000-$10,500 - 11 (6.4%)
$10,500-$11,000 - 5 (2.9%)
>$11,000 - 50 (29.1%)
Total Voters: 172

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 20251838 times)
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spooderman
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April 01, 2014, 04:10:37 AM

i expect one more flash crash down and then proper bull market back. bids in the 300s placed!
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DieJohnny
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April 01, 2014, 04:11:02 AM



All it takes is a rumour on twitter or one fake article to drop another 100 bucks. But no amount of good news will make it go up. So guess which way we will be going.

This basically sums up my sentiment. The general public has nothing but bitcoin bad taste in their mouth.

A lot of time has to pass for some amnesia to set in and start to bring in new blood.

While I do not equate bitcoin to a ponzi scheme in any technical way, I do think it likely follows typical trends for MLM and networking companies in general. You have waves of people that buy in, then periods of retraction until a new wave of buyers follows. I think we are in retraction now, eventually we will turn up again but not yet, we are still headed down.

The great difference between MLMs, ponzis, and bitcoin is that bitcoin is eternal and free flowing in its membership. If you lose your belief system, then you can get out at any time you want. Bitcoins will still be around in a year and in 10 years, they are not going to disappear (at least not all of them). We are seeing people lose faith and leave the blockchain, this will continue down, down, down, until the speculative opportunity is much higher than the risk of holding them. I pick the absolute bottom at around Gox's bottom. I am picking the bottom I will be able to identify and buy during a regular business day around 250.
spooderman
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April 01, 2014, 04:12:01 AM

All it takes is a rumour on twitter or one fake article to drop another 100 bucks. But no amount of good news will make it go up. So guess which way we will be going.

the effect of news changes in cycles. the market is obviously more vulnerable to bad news when people are very bullish (long), but that time has passed because the panic selling has been exhausted.

yesterday chinese law was enforced on a chinese exchange, confirming the worst, but here we are, rallying, 466 and climbing.

I think you will see from now on, the good news will start to take a positive effect on the market.

would you mind telling me what the chinese law is now?
TERA
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April 01, 2014, 04:16:28 AM

Nice little wall at 350-450 has formed. This might give us another 1-4 weeks before 400 is broken, and maybe even a bulltrap to 550 or so where the next shorting opportunity will be.
chessnut
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April 01, 2014, 04:18:14 AM

would you mind telling me what the chinese law is now?

The regulation was passed three months ago..... ban on third party exchanges. traders will not be able to send yuan to exchanges in china. that is in effect a ban.
aminorex
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April 01, 2014, 04:33:42 AM

would you mind telling me what the chinese law is now?

The regulation was passed three months ago..... ban on third party exchanges. traders will not be able to send yuan to exchanges in china. that is in effect a ban.

Not really.  Anyone (say with a few million in donations from clients of a state owned enterprise)  can buy bitcoin whenever they want.  They just have to pay cash.
JorgeStolfi
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April 01, 2014, 04:48:54 AM

This Chinese thread seems to say that bank deposit (?) at OKCoin was still working today (Apr/01) around 09:00 local time.
chessnut
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April 01, 2014, 04:49:27 AM

would you mind telling me what the chinese law is now?

The regulation was passed three months ago..... ban on third party exchanges. traders will not be able to send yuan to exchanges in china. that is in effect a ban.

Not really.  Anyone (say with a few million in donations from clients of a state owned enterprise)  can buy bitcoin whenever they want.  They just have to pay cash.


yes. good news.
arepo
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April 01, 2014, 04:59:16 AM

...here we are, rallying, 466 and climbing.

this is consolidation, not a rally... you should take off those bull-colored glasses Tongue
ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ


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April 01, 2014, 05:00:42 AM


Explanation
ShroomsKit
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April 01, 2014, 05:02:19 AM

Nice little wall at 350-450 has formed. This might give us another 1-4 weeks before 400 is broken, and maybe even a bulltrap to 550 or so where the next shorting opportunity will be.

Didn't you say you would stop posting once you got your cheap coins. Wasn't that around 600 or so? Considering how low we are i'm pretty sure you got all the cheap coins you could afford already. Right?
seleme
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April 01, 2014, 05:03:52 AM

I feel some mini rally is coming unless we get some China bad news confirmation.

Sellers look bit exhausted and only that news could change the things.
Walsoraj
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April 01, 2014, 05:06:10 AM

I feel some mini rally is coming unless we get some China bad news confirmation.

Sellers look bit exhausted and only that news could change the things.

Pre-confirmed.  Tongue Grin Cheesy
seleme
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April 01, 2014, 05:14:59 AM

I feel some mini rally is coming unless we get some China bad news confirmation.

Sellers look bit exhausted and only that news could change the things.

Pre-confirmed.  Tongue Grin Cheesy

 Grin
aminorex
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April 01, 2014, 05:16:03 AM

I feel some mini rally is coming unless we get some China bad news confirmation.

Sellers look bit exhausted and only that news could change the things.

Pre-confirmed.  Tongue Grin Cheesy

 Grin
that's racist
TERA
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April 01, 2014, 05:25:36 AM

Nice little wall at 350-450 has formed. This might give us another 1-4 weeks before 400 is broken, and maybe even a bulltrap to 550 or so where the next shorting opportunity will be.

Didn't you say you would stop posting once you got your cheap coins. Wasn't that around 600 or so? Considering how low we are i'm pretty sure you got all the cheap coins you could afford already. Right?
That was a long long time ago with a different chart and different TA. These coins were cheap 2 months ago, but they are no longer cheap because more time has passed, the long term indicators on the chart have changed, and the volume is dwindling. We are clearly in a different pattern than the previous cycles. The 1 week EMAs are about to cross down. I would have been all over these coins 2 months ago but not now.
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April 01, 2014, 05:29:55 AM

What parameters are you using for EMA? 1 week EMA has crossed down 4-5 weeks ago on my Wisdom.
ShroomsKit
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April 01, 2014, 05:31:05 AM

Nice little wall at 350-450 has formed. This might give us another 1-4 weeks before 400 is broken, and maybe even a bulltrap to 550 or so where the next shorting opportunity will be.

Didn't you say you would stop posting once you got your cheap coins. Wasn't that around 600 or so? Considering how low we are i'm pretty sure you got all the cheap coins you could afford already. Right?
That was a long long time ago with a different chart and different TA. These coins were cheap 2 months ago, but they are no longer cheap because more time has passed, the long term indicators on the chart have changed, and the volume is dwindling. We are clearly in a different pattern than the previous cycles. The 1 week EMAs are about to cross down. I would have been all over these coins 2 months ago but not now.

Ooooh right. I didn't see that coming. Basically you will be crying about bull traps and how we will go down because you want cheaper coins till the end of times.
Well, in that case, time to put you on ignore. Buh bye.
TERA
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April 01, 2014, 05:43:00 AM

What parameters are you using for EMA? 1 week EMA has crossed down 4-5 weeks ago on my Wisdom.
Default wisdom parameters: 7/30.  The bottom ema was first breached 6 weeks ago but it did not cross down and still hasn't.
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April 01, 2014, 05:44:32 AM

456$ on bitstamp, it will probably go lower Wink Or we will all be surprise and it will spike up
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