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

[MatTheCat]

ok, like WTF just happened,

I get home from work and I'm really starting to wonder if my job is not costing me more in lost opportunity than it provides in stability...

Some whale made a 600 BTC market order on Bitstamp which took Bitcoin from $640-$660 within 10 seconds. Then there was a 750 Ask Wall at $665. It sat for about 5 minutes followed by  selling pressure eating the wall away....then I went to watch Game of Thrones and when I came back, we are in a double top or bullish breakthrough do or die market situation.

Totally counter intuitive. Doesn't make sense. That is because this is not mass market psychology, this is the intentions and/or machinations of an individual entity. With a market as cornered and as engineered as Bitcoin, all TA or common sense goes out the window. I am currently bullish on Bitcoin, but this shit just does not make sense.

It is worrying tbh that the market can be pushed around like this as though Bitcoin were some Shitcoin.

[simonk83]

Nice surprise right when I woke up, rpietila showing his mansion at the front page of Helsingin Sanomat, Finland's largest news papers:

Is it actually his this time, or is he just posing in front of something again

[derpinheimer]

:c dump

dafuqq`??

[barbs]

Bitstamp hasn't let me in for an hour and they continue trading ??

[JayJuanGee]

Explanation

<<<WATCH>>>

IMO:::WE ARE ABOUT TO GO+
 #TEST THE /\$900zZz!!!!  

What are you smoking

did you not hear about DISH network? muuuhahahaahaha  

That's cute, is that why you think the price is moving?

/\BTC w/21million max shares,,
 *cough* i meant coins out? LOL  
 
====>$1000-$3000 BTC is the rumour by July 1st

That's a big-ass and very optimistic BTC price range that you are predicting - for BTC prices to either to be up by anywhere between 50% and 450% in less than 30 days.

I am NOT saying that such a prediction is NOT possible, but surely such a prediction seems fairly unlikely, in my current thinking.... maybe a less than 5% chance for the lower end of your prediction ($1,000) and a less than .05% chance for the upper end ($3,000).

Don't get me wrong, I would love for such an optimistic outcome to materialize (especially the upper end); however, I am inclined to believe that $710 to $850 range is more likely and realistic by July 1.

Currently, I am hypothesizing that there is a 30% to 60% chance that BTC prices will be in the $710 to $850 range on July 1 - but I have NO real source for my prediction besides my just watching the news and the BTC price trends.

[Taras]

A coin wall just came down.

[kodtycoon]

Bitstamp hasn't let me in for an hour and they continue trading ??

thats what you call insider trading! lol

[Taras]

We have new support at around 656.

[podyx]

ok, like WTF just happened,

I get home from work and I'm really starting to wonder if my job is not costing me more in lost opportunity than it provides in stability...

Some whale made a 600 BTC market order on Bitstamp which took Bitcoin from $640-$660 within 10 seconds. Then there was a 750 Ask Wall at $665. It sat for about 5 minutes followed by  selling pressure eating the wall away....then I went to watch Game of Thrones and when I came back, we are in a double top or bullish breakthrough do or die market situation.

Totally counter intuitive. Doesn't make sense. That is because this is not mass market psychology, this is the intentions and/or machinations of an individual entity. With a market as cornered and as engineered as Bitcoin, all TA or common sense goes out the window. I am currently bullish on Bitcoin, but this shit just does not make sense.

It is worrying tbh that the market can be pushed around like this as though Bitcoin were some Shitcoin.

It is what it is player

Can't handle it? Enter the stock market

[Taras]

A coin wall just came down.

It ended up being moved to 666.

[adamstgBit]

 

[JayJuanGee]

I am willing to say that I am on the edge of being officially bullish on this market.

It looks as if fresh fiat is coming into the bitcoin exchanges.

If this is correct, then 340 was the low and we will be coiling up for a major move sometime before the end of 2014.

The jury is still out on this one, but if we break 680 with ease in the next day or so and continue to rally up and consolidate at highs, then I will expect ATH before <$340

WindJC:

You are so charitable in your bullish remarks....     

[Taras]

Very good analysis. You clearly depict our future and enthusiasm in a realistic and simple way. +1

[ChrisML]

Moon?

[hyphymikey]

Manipulation.

[MatTheCat]

It is what it is player

Can't handle it? Enter the stock market

Nope, I can't handle it. Because the whole thing is hanging by a string from some whales finger who can do with Bitcoin whatever takes his whim's fancy.

I could buy Bitcoin, or I could take 10K down the casino and put it all on red.

[shmadz]

ok, like WTF just happened,

I get home from work and I'm really starting to wonder if my job is not costing me more in lost opportunity than it provides in stability...

Some whale made a 600 BTC market order on Bitstamp which took Bitcoin from $640-$660 within 10 seconds. Then there was a 750 Ask Wall at $665. It sat for about 5 minutes followed by  selling pressure eating the wall away....then I went to watch Game of Thrones and when I came back, we are in a double top or bullish breakthrough do or die market situation.

Totally counter intuitive. Doesn't make sense. That is because this is not mass market psychology, this is the intentions and/or machinations of an individual entity. With a market as cornered and as engineered as Bitcoin, all TA or common sense goes out the window. I am currently bullish on Bitcoin, but this shit just does not make sense.

It is worrying tbh that the market can be pushed around like this as though Bitcoin were some Shitcoin.

Thanks Mat, I certainly didn't see it coming, though I did buy at that short-term bottom, still not willing to sell, still hoping we will blow through that 680 level at some point and then overextend and fall back to 680 as support, for a few weeks (days???   )


I'm sure that this market (all markets) are manipulated,

I'm still curious to see if open, transparent manipulation of bitcoin is any better or worse than the closed and "regulated" manipulation of other markets.

it's fun to watch it play out  
 

I could buy Bitcoin, or I could take 10K down the casino and put it all on red.

I'd recommend that if you can take a neutral, honest, and non-emotional approach to the idea of bitcoin in general, that you will do much better in the long term than betting on red.

[Gingermod]

It is what it is player

Can't handle it? Enter the stock market

Nope, I can't handle it. Because the whole thing is hanging by a string from some whales finger who can do with Bitcoin whatever takes his whim's fancy.

I could buy Bitcoin, or I could take 10K down the casino and put it all on red.

Have fun Matt

[JimboToronto]

Can't handle it? Enter the stock market

LOL  

[barbs]

Am I the only one who can't get into bitstamp for one hour 20 mins