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

[adamstgBit]

Is the trend line broken yet?

Knocking on the door @Stamp I think.

Currently knocking at a safe $35 distance

such line!

altho its more of a curve then a line..

[oda.krell]

Is the trend line broken yet?

Knocking on the door @Stamp I think.

Currently knocking at a safe $35 distance

such line!

altho its more of a curve then a line..

Log downtrend from December to now, or at least, one variation of such a trendline (another one goes through the December ATH).

bears decided a while ago that's the most likely trendline, but only /you/ can prove them wrong:

[dreamspark]

what a fucking joke, the last couple of days some of you were crying all around the place about the rounding up and about Bitstamp ripping customers off, and most of you agreed on the $5 min order, in fact most of you said it should minimize the effect, but today you are crying again about them doing what you wished for !!!!! what the heck is wrong with people  

We know you like Bitstamp and you know some people who work there but people are allowed to have opinions. No ones crying, your the most irate person in this situation. If I didnt know better I'd say you were a staff memeber or share holder the way you jump up and down when anyone says anything about Stamp.

[adamstgBit]

Is the trend line broken yet?

Knocking on the door @Stamp I think.

Currently knocking at a safe $35 distance

such line!

altho its more of a curve then a line..

Log downtrend from December to now, or at least, one variation of such a trendline (another one goes through the December ATH).

bears decided a while ago that's the most likely trendline, but only /you/ can prove them wrong:

me and my army



if we all hit market buy with 12$ you better RUN!

[ChartBuddy]

Explanation

[Bronstad]

Is the trend line broken yet?

Knocking on the door @Stamp I think.

Currently knocking at a safe $35 distance

I assume, from above you mean 

[ChartBuddy]

Explanation

[eiskalt]

Is the trend line broken yet?

Knocking on the door @Stamp I think.

Currently knocking at a safe $35 distance

I assume, from above you mean 

 

[boumalo]

The bulls are behind the train trying to push-start it again.

Yeah, this doesn't make sense to me. The "bulls" should already own bitcoin. And its hard to get money into the exchanges, so the "bulls" aren't buying new coins.

That's why I think this is short covering. I think shorts were taking profits as quickly as they could.

Unlike the rally last week, there is no selling pressure, no dumping. Its like the sell function on Houbi has been turned off.

About 1000BTC of shorts have covered on Finex as well but I think  a lot more of them could be covered if this continues.

It is not hard to get money to bitstamp or buy with localbitcoins for exemple

[theonewhowaskazu]

The 3 day macd just switched to red.

[JayJuanGee]

what a fucking joke, the last couple of days some of you were crying all around the place about the rounding up and about Bitstamp ripping customers off, and most of you agreed on the $5 min order, in fact most of you said it should minimize the effect, but today you are crying again about them doing what you wished for !!!!! what the heck is wrong with people  

Too much coffee, huh?

By my count, 3 out of 4 posts here welcome the decision.

Maybe he got his numbers from another thread? I think I saw a thread related to this bitstamp move earlier

davout is pissing me off on the other thread, but we all know why

What other thread?

[mmitech]

what a fucking joke, the last couple of days some of you were crying all around the place about the rounding up and about Bitstamp ripping customers off, and most of you agreed on the $5 min order, in fact most of you said it should minimize the effect, but today you are crying again about them doing what you wished for !!!!! what the heck is wrong with people  

Too much coffee, huh?

By my count, 3 out of 4 posts here welcome the decision.

Maybe he got his numbers from another thread? I think I saw a thread related to this bitstamp move earlier

davout is pissing me off on the other thread, but we all know why

What other thread?

https://bitcointalk.org/index.php?topic=597647.0

[JorgeStolfi]

In another thread people are arguing that SecondMarket's BIT fund only buys bitcoins on Thursdays.  That could be wrong (perhaps they merely update their accounting weekly on Thursdays).

But, assuming that the conjecture is true, here is a theory for the "Thursday dumps": SMBIT are said to buy opportunistically from various sources, but only if and when some investor buys their shares.  Perhaps miners and other habitual SMBIT sources hold their bitcoins until Thursday waiting for a possible SMBIT call, and when that doesn't materialize they sell them on market instead.

(OK, ok, but it this still not the silliest theory on this thread, is it?)

[JorgeStolfi]

A simpler theory for the alleged "Thursday dumps" is that the Chinese traders sell off on Thursday so that the cash withdrawal through the banks is complete on Friday so that they can spend the money over the weekend.

[JayJuanGee]

what a fucking joke, the last couple of days some of you were crying all around the place about the rounding up and about Bitstamp ripping customers off, and most of you agreed on the $5 min order, in fact most of you said it should minimize the effect, but today you are crying again about them doing what you wished for !!!!! what the heck is wrong with people  

Too much coffee, huh?

By my count, 3 out of 4 posts here welcome the decision.

Maybe he got his numbers from another thread? I think I saw a thread related to this bitstamp move earlier

davout is pissing me off on the other thread, but we all know why

What other thread?

https://bitcointalk.org/index.php?topic=597647.0

Thnx  Mmitech. 

Personally, I like the $5 minimum trade solution - mostly b/c I am a little bit irritated by bots... he he he...

[JayJuanGee]

In another thread people are arguing that SecondMarket's BIT fund only buys bitcoins on Thursdays.  That could be wrong (perhaps they merely update their accounting weekly on Thursdays).

But, assuming that the conjecture is true, here is a theory for the "Thursday dumps": SMBIT are said to buy opportunistically from various sources, but only if and when some investor buys their shares.  Perhaps miners and other habitual SMBIT sources hold their bitcoins until Thursday waiting for a possible SMBIT call, and when that doesn't materialize they sell them on market instead.

(OK, ok, but it this still not the silliest theory on this thread, is it?)

I believe that it would be a bad business practice for any big player trader to publicly disclose any exact details of its buy/sell pattern ahead of time.  Accordingly, the logic does NOT make sense that any big player trader would engage in such a before-hand disclosure of such.

[JorgeStolfi]

Honestly $5 minimum is more than fair.

Not to mention that it is MUCH easier to program and explain than the alternative of handling small fractions of cents from fees and rounding them only when the factorial of the asymptote is in syzygy with the equinox of the triangular root of all the odd trades.

[JorgeStolfi]

In another thread people are arguing that SecondMarket's BIT fund only buys bitcoins on Thursdays.  That could be wrong (perhaps they merely update their accounting weekly on Thursdays).

I believe that it would be a bad business practice for any big player trader to publicly disclose any exact details of its buy/sell pattern ahead of time.  Accordingly, the logic does NOT make sense that any big player trader would engage in such a before-hand disclosure of such.

Maybe, but they have been buying less than 2000 BTC per week on average.  Does that make them "big players", enough to influence the market price?

[ChartBuddy]

Explanation

[rpietila]

Algorithm would have performed very well from Dec 1st 2013:

Code:

TIME OF TRADE	RATE	S/BUY	B GAIN		USD	BTC
1.12.2013 4:00	1024,00	-1			102 400	0,00
7.12.2013 2:00	748,99	1	37 %		0	136,72
11.12.2013 10:0	852,50	-1			116 552	0,00
19.12.2013 8:00	605,00	1	41 %		0	192,65
20.12.2013 22:0	610,00	-1			117 515	0,00
22.12.2013 8:00	652,86	1	-7 %		0	180,00
7.1.2014 20:00	823,00	-1			152 030	0,00
14.2.2014 2:00	595,00	1	38 %		0	255,51
20.2.2014 6:00	601,10	-1			153 589	0,00
22.2.2014 16:00	603,98	1	0 %		0	254,29
24.2.2014 2:00	574,97	-1			146 211	0,00
26.2.2014 6:00	594,98	1	-3 %		0	245,74
4.3.2014 16:00	675,61	-1			166 026	0,00
1.4.2014 6:00	481,01	1	40 %		0	345,16
2.4.2014 12:00	469,95	-1			162 208	0,00
14.4.2014 4:00	427,50	1	10 %		0	379,43
16.4.2014 8:00	515,00	-1			195 409	0,00
8.5.2014 16:00	442,50	1	16 %		0	441,60

So guys, with only 17 trades, performed after the triggers (perhaps BTC500 could have been used without affecting the market too much - even thousands with some planning, delay, and slippage), you would have 4.5x'd your bitcoins or made almost double your dollars, in a falling market.

I also checked the same rules in a rising market. They did not work, I could barely make it return positive bitcoins over 1 year. The problem is that in the rising market the selloffs come viciously and up it goes with stable medium volume. So this interprets the periodic selloffs as the important events and loses out on runups.