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

[igorr]

Bear coming  

[UnDerDoG81]

Seriously, I also expect that it will go down more. Step by step 

First 800, then stuck at 700, then at 666, then at 560 and now at 450. next step could be 360 

[igorr]

320
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130

[fonzie]

I really can´t see us going below 70$ this year, but i wouldn´t take the risk too buy at this point.

[Cassius]

320
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180
130

Much bored.
-> ignorr

[freebit13]

Much bored.
-> ignorr

Welcome to the "ignore-fest" that is the Wall Observer thread 

[Davyd05]

Can you smell the disbear? woops despair?

[niothor]

Looks like a new era in the wall thread
From trains and bears to double bottoms , then the illumination era and now the fud dispensers. 

[koryu]

china banned btc several times and we didnt go below 400$, gox died and we didnt go below 400$.
why should anybody sell below 400$ this time?

i see the chances higher that we go up from here than down.

[fonzie]

Sellbot on BTC-E continues to push the price down. If he is really staffed with an infinite amount of coins then i could really see CNBC´s prediciton as an possible option and we might go to -100$.

[dreamspark]

Sellbot on BTC-E continues to push the price down. If he is really staffed with an infinite amount of coins then i could really see CNBC´s prediciton as an possible option and we might go to -100$.

With your .0001 BTC he cant have all the coins 

[fonzie]

 

You might consider the possibility that 21 million coins is a lie and he just xcopy c:\satoshiwallet.dat c:\scamallidiots\satoshiwallet2.dat
multiple times.

[fonzie]

I can´t imagine that the BTC-E bot is makin any profit he sometimes switches to the bid side with the same tactics?
Eventually buyin even his own orders. He seems to be out of control. Or is it just a strategy to create volume(Hello Huobi)?

[rjp55]

Love seeing the price slowly increase. The sentiment seems to be changing and most people are starting to feel signs of a reversal.

[boumalo]

Love seeing the price slowly increase. The sentiment seems to be changing and most people are starting to feel signs of a reversal.

At the moment and the sentiment can get even better but we can also come back to the downtrend scenario and test the lows again, it is pretty hard to know, we didn't go back up that much

[Mervyn_Pumpkinhead]

china banned btc several times and we didnt go below 400$, gox died and we didnt go below 400$.
why should anybody sell below 400$ this time?

i see the chances higher that we go up from here than down.

Well, the biggest holders won't sell everything all at once. They will sell their coins gradually, and in all probability, some of them are actually the same guys who are yelling "it's an trend reversal! Buy!" in this forum, so they could drop their coins with better profits. If the price reaches certain heights then there will be another drop. The drops that you are seeing, are the effects of those little spikes that you can see here http://blockchain.info/charts/bitcoin-days-destroyed. And this isn't over yet. It will be slow and painful as long as there are fools who can be tricked with these constant "trend reversals". Only way how this would be over quick, would be if less people would fall for that. Then the dumpers would need to fasten their dumping.

[rjp55]

I think if the bids got pumped even a little it could spark a mini rally. Bears are not nearly as confident as weeks past and would be much quicker to jump back in due to current market sentiment.

[hdbuck]

please stop that reversal crap calling each time we see a little upward movement. this behavior contributes to mislead beginners as they hope to find answers in here. truth is, we are not out of the overall downward movement initiated from that last bubble (eg. see pennant)

if ever, the trend should be reversed by the end of may/begining of june as we exit that exhausting pennant. yes, there is still place for a little rebound but we are not out of trouble yet.
stop fooling yourselves with that short term delusional optimism, we've been going down since december.

edit: it take about 6 months to deflate from last bubble then 2 months for stabilisation and 1 month to initiate bullrun = about 9months cycles. the key is being patient. yeayyy

[ChartBuddy]

Explanation

[billyjoeallen]

I love this hypothetical speculation about God Being a day trader. How much would He be trading and to what goal? Maximizing His dollar return on investment?  If so, the goal would be to trade to accumulate Bitcoin by selling  high and then buying back more Bitcoin, a larger dollar amount at the lows. This would over time have a larger and larger effect on the price making the lows higher and the highs lower until the upward trendline is near perfectly smooth. When trendline became perfectly smooth, God could make no more profits from trading volatility and would simply sell 1% for every 1% increase in price for a perpetual river of income. 

Every trader's actions, no matter how small, affect the market. Successful traders reduce volatility and unsuccessful traders increase volatility up the the point they leave the market. This is why bitcoin needs no central bank. It has us. Dumb traders pay smart traders and smart traders reduce volatility.