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

[edwardspitz]

That wasn't a real dump. What we are seeing is simply an exhaustion of buyers.

No one wants to buy so we are starting to make lower highs. We might have one or two more pushups ahead the next handful of days - maybe to 470 or 480.

But the problem is when the buyers run out, then the market just waits for the next set of China news to dump all to hell.

That wasn't a real dump. What we are seeing is simply an exhaustion of buyers.

+1. Looking at the volume on 6h chart on Huobi confirms this. The holidays could also be a factor. Maybe this: https://www.youtube.com/watch?v=yzLT6_TQmq8

[windjc]

If Houbi breaks down below 2750 and that begins to act as resistance, then things will start to get real bearish, imo.

Won't happen until Monday.. dat dump on BTC-E, though

Maybe not. I think we might range trade until sometime next week, when the next wave of "news" hits.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[dnaleor]

breakout is very much possible today!!

downwards trendline is at 466 USD
Recent uptrend will cross downtrend in 36 hours at 456 USD

[windjc]

Decision time.

Testing lower trendline of this rally on NO news.

Very bearish if support gets broken here, imo.

[windjc]

breakout is very much possible today!!

downwards trendline is at 466 USD
Recent uptrend will cross downtrend in 36 hours at 456 USD

What if it breaks down?

[dnaleor]

breakout is very much possible today!!

downwards trendline is at 466 USD
Recent uptrend will cross downtrend in 36 hours at 456 USD

What if it breaks down?

then we are all fucked and I will not be able to retire when I am 26 years old



edit: crucial support tested as we speak:

[Dabs]

Looks like a brontosaurus. Or some dinosaur.

[ChartBuddy]

Explanation

[flynn]

Looks like a brontosaurus. Or some dinosaur.

These are the magic words. Add a double or a triple-bottom, and it'll skyrocket

[magicmexican]

http://www.savegox.com/?page_id=35

if anyone cares, interesting read

[blatchcorn]

Yeah I am just going to hold and wait for this to all blow over.

[ChartBuddy]

Explanation

[JorgeStolfi]

Dump like that is likely by someone with inside info. Expect a bad news article soon.

I didn't watch the trades at the time, but from the 1m chart I would say that someone at BTC-e suddenly sold all his coins into walls at 435 and 430, and marched out, stomping and slamming the door.

Another 43 like him and the price will be down to single digits.

Another 44 like him...

[JorgeStolfi]

http://www.savegox.com/?page_id=35
if anyone cares, interesting read

There is also a thread that discusses that proposal, with QA from their PR guy:
https://bitcointalk.org/index.php?topic=587295.0

Frankly, to me it looks like the goal of the project is to prevent a police investigation of what happened at MtGOX.

The police can subpoena Mark and the banks to get the identities of suspect MtGOX customers and the bank accounts of suspect insiders.  A private investigator cannot do that.  That for starters.

[xulescu]

http://www.savegox.com/?page_id=35

if anyone cares, interesting read

The non-statist version: https://bitcointalk.org/index.php?topic=590970.0

Looks like the plan IS to get the police in.

[ShroomsKit_Disgrace]

The non-statist version: https://bitcointalk.org/index.php?topic=590970.0

Looks like the plan IS to get the police in.

WHAT THE ACTUAL FUCK is this? OMG! 

[JorgeStolfi]

The non-statist version: https://bitcointalk.org/index.php?topic=590970.0
Looks like the plan IS to get the police in.

Very interesting read indeed.

(But what a funny definition of "police" you have got there...  )

Interesting that Sunlot is based in Cyprus.  Could perhaps there be a connection to mysterious Mr. Brewster, whose past before going to Cyprus seems to be clouded in mystery denser than Mr. Karpelès's frappucinos?

[ChartBuddy]

Explanation