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

[chessnut]

this consolidation just keeps going on and contracing.

TERA. I sold at 750 and 630. I was really bearish then, so I dont know about that Hodl mentality.....

[jonoiv]

No one is buying and no one is selling.

while the price is dropping on average of $7-8 per day.   The scales are tipped only one way imho.

Dropping $7-8 per day since when? 

Are selectively picking a start date for this hypothetical and arbitrarily picked price drop?

sorry my mistake, it's $5-6 per day.

[chessnut]

sorry my mistake, it's $5-6 per day.

I think you missed the point entirely

[podyx]

this consolidation just keeps going on and contracing.

TERA. I sold at 750 and 630. I was really bearish then, so I dont know about that Hodl mentality.....

Isn't it so that the more times we test resistance, the better chance to break through?

[chessnut]

Isn't it so that the more times we test resistance, the better chance to break through?

hmm dont know so much. only one thing is true, the longer consolidation goes on for, the sooner it has to stop  that is true in bitcoin.

One could argue that the more times resistance rejects the price, the stronger it is. same is true for support.

[podyx]

Isn't it so that the more times we test resistance, the better chance to break through?

hmm dont know so much. only one thing is true, the longer consolidation goes on for, the sooner it has to stop  that is true in bitcoin.

One could argue that the more times resistance rejects the price, the stronger it is. same is true for support.

So it's exactly the opposite of what I have heard then?

[ChartBuddy]

Explanation

[octaft]

Isn't it so that the more times we test resistance, the better chance to break through?

hmm dont know so much. only one thing is true, the longer consolidation goes on for, the sooner it has to stop  that is true in bitcoin.

One could argue that the more times resistance rejects the price, the stronger it is. same is true for support.

So it's exactly the opposite of what I have heard then?

I would imagine it depends on which way proves the point and suits the agenda of the person you're speaking to in the moment.

[chessnut]

So it's exactly the opposite of what I have heard then?

I dont think there is a rule. price moving into resistance equally reveals a buyer and a seller. in theory, the one that makes the market order is the weakest, but thats not a reason why the wall should move.

[JorgeStolfi]

This news is ~10 days old, but may interest someone:

  Bitcoin Mining Malware Infecting Android Smartphones
  http://www.cellular-news.com/story/Handsets/65154.php

[FullLife]

Also, a price supported by entirely by holding and not by buyers is very weak - it is unusable by merchants due to the lack of liquidity. It is in effect a ponzi scheme.

You should be ashamed of yourself for being involved.  What would your mother think?  Go away.

I have a history of trading ponzi schemes actually, and then getting out just in time before they collapse. It all started when I was 18 years old and I partipated in a ponzi called "12 daily pro", turning $5,000 into $15,000 in a few weeks. Of course the members insisted that it was not a ponzi at the time. It was.. "the future of advertising and multi level marketing" bla bla.

Wow, I was in that as well, what a coincidence.  I was in a few others as well that were running at the same time.  Ended up a decent chunk of change.

[aminorex]

Isn't it so that the more times we test resistance, the better chance to break through?

hmm dont know so much. only one thing is true, the longer consolidation goes on for, the sooner it has to stop  that is true in bitcoin.

One could argue that the more times resistance rejects the price, the stronger it is. same is true for support.

So it's exactly the opposite of what I have heard then?

They are not contradictory.  Rejection count correlates with resistance/support strength.  Each successive assault consumes some of that strength.

[aminorex]

So we are surrounded by embezzlers.

[freedomno1]

This news is ~10 days old, but may interest someone:

  Bitcoin Mining Malware Infecting Android Smartphones
  http://www.cellular-news.com/story/Handsets/65154.php

Well heartbleed has my attention lately but I find it hard to believe that malware developers mining on a phone unless they started in 2011 earn hundreds of bitcoins lol

[aminorex]

This news is ~10 days old, but may interest someone:

  Bitcoin Mining Malware Infecting Android Smartphones
  http://www.cellular-news.com/story/Handsets/65154.php

Well heartbleed has my attention lately but I find it hard to believe that malware developers mining on a phone unless they started in 2011 earn hundreds of bitcoins lol

Scrypt mining perhaps.

[JorgeStolfi]

I find it hard to believe that malware developers mining on a phone unless they started in 2011 earn hundreds of bitcoins lol

I don't know how many bitcoins they coud mine, but there are several hundred million Android smartphones out there.

[TERA]

it's funny i don't even have to look at the charts anymore. i can just look at this thread. i know that if it breaks 460, everyone will be freaking out about it

[freedomno1]

I find it hard to believe that malware developers mining on a phone unless they started in 2011 earn hundreds of bitcoins lol

I don't know how many bitcoins they coud mine, but there are several hundred million Android smartphones out there.

Well the article actually said thousands and difficulty would just be way to damn high
That said if an app on large scales could do that we have a new way to speculate the Bitcoin Price  
How many cellphone miners are mining bitcoins and selling them at exchanges XD

[ChartBuddy]

Explanation

[JorgeStolfi]

I tried to find recent news from China by Googling  "04月09日" "比特币" and using Google Translate.  I cannot tell for sure, but it seems that they are still uncertain about the bank account closure on April 15; no denial, no cofirmation from the PBoC.

However MtGOX is still regularly mentioned in the Chinese bitcoin news.  It seems that the Central Bank of Japan too declared that bitcoin is not a currency.  (But please check, I may have misunderstood, or the news may be old.)