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

[eiskalt]

"If You Want Blood (You Got It)"

It's criminal
There ought to be a law
Criminal
There ought to be a whole lot more
You get nothin' for nothin'
Tell me who can you trust
We got what you want
And you got the lust
If you want blood, you got it
If you want blood, you got it
Blood on the streets
Blood on the rocks
Blood in the gutter
Every last drop
You want blood
You got it
Yes you have

It's animal
Livin' in the human zoo
Animal
The shit that they toss to you
Feelin' like a christian
Locked in a cage
Thrown to the lions
On the second page
If you want blood, you got it
If you want blood, you got it
Blood on the street
Blood on the rocks
Blood in the gutter
Every last drop
You want blood
You got it
O positive

Blood on the rocks
Blood on the streets
Blood in the sky
Blood on the sheets
If you want blood
You got it

I want you to bleed for me

If you want blood, you got it
If you want blood, you got it
If you want blood, you got it
If you want blood, you got it


----------------------------------------------------
Wow, AC/DC knew about bitcoin in 1978.

R.I.P. Bon Scott (and of course bitcoin)

[adamstgBit]

its over folks

bitcoin is dead.

 

[ampere9765]

Relax guys, price will obviously go higher. Look at bitstamp:

- they are buy orders in value of 14.000 BTC in total from 440 down to 398 USD
- on the other hand they are sell orders in value of 4.698 BTC in total up to 484 USD (from 440 USD).

So basically, while people would buy 14.000 BTC by the time BTC would go down to 400, there is ONLY 4.698 BTC on the selling side up to 484 USD.

I think this says all: people are not willing to sell their bitcoins at this price, which is the correct attitude. Excepting some idiots who are selling (I think everybody's an idiot selling now), people are just holding. Imagine, 4.698 BTC for sale from the almost 13.000.000 on the market... that says a lot about it (and also about how stupid people selling at this price are).

I am sure that by the end of 2014 BTC will be at least 2-3.000 USD.

Order book is completely meaningless. Large holders on both sides are just manipulating you. If your analysis goes no deeper than this, I hope you are not a trader.

[mah87]

its over folks

bitcoin is dead.

 

wow , seriously adam ?

[MinermanNC]

its over folks

bitcoin is dead.

 

lol yep eiskalt killed BTC  

[BitChick]

its over folks

bitcoin is dead.

 

wow , seriously adam ?

Perhaps he is just trying to get us to the point of "despair" so we can finally move up again? 

[sonofliberty]

its over folks

bitcoin is dead.

 

 

[MinermanNC]

and I thought China would be the doom of BTC  

[EuroTrash]

Relax guys, price will obviously go higher. Look at bitstamp:

- they are buy orders in value of 14.000 BTC in total from 440 down to 398 USD
- on the other hand they are sell orders in value of 4.698 BTC in total up to 484 USD (from 440 USD).

So basically, while people would buy 14.000 BTC by the time BTC would go down to 400, there is ONLY 4.698 BTC on the selling side up to 484 USD.

I think this says all: people are not willing to sell their bitcoins at this price, which is the correct attitude. Excepting some idiots who are selling (I think everybody's an idiot selling now), people are just holding. Imagine, 4.698 BTC for sale from the almost 13.000.000 on the market... that says a lot about it (and also about how stupid people selling at this price are).

1. Those bid walls are mostly fake. They get pulled when the price moves towards them.
2. Those bid walls are mostly fake. As soon as you see a fast enough upswing move, you'll see bid walls disappear and ask walls being placed against the move.

Why is that?
A. (Bots) To catch crazy market orders. E.g. if someone sells 14k coins the market will bounce quickly and the bots make profit from catching the market order and selling back higher.
B. (Manipulators) To manipulate the simpletons into believing that support/resistance are stronger than they actually are. So the price moves in the opposite direction of the wall and the manipulator can lower the slippage of his real move, e.g. he can sell at a higher price than his bid wall or buy at a lower price than his ask wall.

Am I right?

[eiskalt]

its over folks

bitcoin is dead.

 

lol yep eiskalt killed BTC  

The bloodmoon will kill it. Bon Scott saw it and told everybody.

Shortly after this the CIA killed him.

Finally it all makes sense.

[600watt]

its over folks

bitcoin is dead.

 

Panic sold all my coins when i saw this.







 

[JorgeStolfi]

Chinese Slumber Method prediction for Thursday April 10

Prediction valid for: Thursday 2014-04-09, 19:00--19:59 UTC (not before, not after)
Huobi's predicted price: 2717 CNY.
Bitstamp's predicted price: 441 USD.




Plot legend

This last Slumber data point was good (S = 0.0014, W = 0.963).  It was about 70 CNY below the preceding trend line, but, since the previous point was rather weak (W = 0.545), it still seems valid to use a straight line fitted by least squares to the last three points; namely, A + B*(d-d0), where d-d0 is the number of days since Apr/07, A = 2791.80, B = -24.92.

The Bitstamp prediction, as usual, is the Huobi prediction divided by the currency conversion factor R, which was assumed to be 6.16 CNY/USD (it was 6.16, 6.16, 6.15 at the last three Slumber Times).
 
Checking the previous prediction

Prediction was posted on: Wednesday 2014-04-09, 03:24 UTC
Prediction was valid for: Wednesday 2014-04-09, 19:00--19:59 UTC (~15 hours later)

A rather embarassing miss:

Huobi's predicted price: 2808 CNY.
Huobi's actual price (L+H)/2: 2734 CNY
Error: 74 CNY (~12 USD)

Bitstamp's predicted price: 456 USD.
Bitstamp's actual price (L+H)/2: 444 USD
Error: 12 USD
 
NOTE: "He uses statistics as a drunken man uses lamp posts -- for support rather than illumination." --Andrew Lang

[ChartBuddy]

Explanation

[fonzie]

I could imagine that the next weeks may sound something like this:

http://www.musictory.com/music/Death+In+June/Kapitulation

[eiskalt]

I could imagine that the next weeks may sound something like this:

http://www.musictory.com/music/Death+In+June/Kapitulation

And all disappears
Yet nobody hears

 

[minerpumpkin]

I could imagine that the next weeks may sound something like this:

http://www.musictory.com/music/Death+In+June/Kapitulation

Bears giving up?

[podyx]

CMOOOOON U BITCH MOVE UP!

IM LOSING IT

jk just bored

[ampere9765]

I could imagine that the next weeks may sound something like this:

http://www.musictory.com/music/Death+In+June/Kapitulation

Bears giving up?

Nope, if we can make a run at 490s I'm gonna short like all hell

[billyjoeallen]

There are many ways to manipulate a market, but the ultimate enemy of a manipulator is time. If you have the patience, price will always return to it's real value. If it doesn't return ,then by definition it's not manipulation.

What really worries me is the talk of the bulls on this thread. http://en.wikipedia.org/wiki/Sunk_costs.  The sunken cost fallacy is a real observed market phenomenon.
Most of you have not had to hold an underwater bitcoin position for years. I have. It was not a smart thing to do. It was an act of faith. How strong is your bitcoin faith? The market will test you.

Bitcoin isn't dead. Not even close, but if you don't think it's even possible to get much much worse before it gets better, then I can assure you it can. With all the talk about Gox and China, what worries me is if some other completely unrelated disaster happens before we've recovered. Bad guys don't play fair. They will kick you when you're down. They are out there. I'm intentionally being discouraging right now. It's better to get out now if you're going to get out than to hold on until you can't hold on any longer.  Bitcoin doesn't need you to go broke for the cause. Honey Badger don't care.

[seljo]

its over folks

bitcoin is dead.

 

Thank god finally! So what now phoenix stile rez?