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

[TERA]

Hey I adjusted my fib lines so that the bottom is $380 instead of $340 since $380 was breached only once and very briefly. Now it makes more sense.

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[aminorex]

I've noticed a curious duality in your posts recently. Where has magic monkey gone? Whilst I appreciate your own ideas I mourn his loss (though I have to wonder about his relationship with the painkillers you were taking).

I have run out of painkillers, which is making me grumpy.  I am rather annoyed with the monkey as well.  If I report his cogitations (which are always indecisive until he calls a turn)  I risk my own reputation.  Oh well, I am pseudonymous for a reason:

Monkey says 625 on the 10pm bar was a low.  (He decided that at midnight, two hours later, with the price at 638.50.)  Monkey likes the upside for at least 4 more hours, considers 656 likely resistance.  EDIT: Monkey changed his mind and thinks its going down for 5 hours now, sees support at 629 and at the 100 hour smavg.

On a daily basis, monkey is expecting to stay biased long until next Tuesday.  He first started to like the upside on the 16th, which was a pretty good call, methinks.  He had thought the 29th might turn south, but he was (a) wrong and (b) hedging.

On a weekly basis, the last time monkey gave up on his longs was the week of the 13th of December, 2013.  He failed to call that top out clearly, although he was on the verge of doing so.  He decided he liked the long side again the week of the 23rd of May, 2014, and is presently expecting to stay long for at least a month and a half.

Disclaimer:  The monkey swills expensive single malts constantly.  Invest accordingly (i.e., in distillers).  Monkey is a fuzzy reasoner.

[ihaveaquestion]

The big difference with LTC being that you know it will bounce back up.

Can I get one of those crystal balls too ? Seriously, what makes you know for a fact it will bounce back up ?

I only believe that LTC is grossly overvalued whereas it brings nothing more to the table. I mean seriously, hedging against SHA-256 just in case Bitcoin would need a few days to change of hash function which is very unlikely, not to mention that even silly people finally understand faster confirmations are not a big deal, and anyway 2 minutes and half is now a lot compared to many shitcoins.
Besides, i believe Nxt is still very undervalued. It is just what my analysis tell me, not crystal balls.

eh, that just made no sense at all. You started off by saying you know LTC will bounce back and then in the next answer said it was grossly over valued and provides no additional value    which one is it?!

I am sorry if my words were misleading. My english is not so good. I believe Nxt is in an uptrend long term so like BTC you don't have to worry when it goes down because it will go way upper later. Whereas with LTC you do have to worry because in the end it will be way lower. LTC went constantly down for weeks now, and no i don't think it is oversold by now. I hope i made myself clear. Don't want to short LTC though because it is testing strong support. Holding BTC and Nxt makes much more money.

[ChartBuddy]

Explanation

[BldSwtTrs]

I've noticed a curious duality in your posts recently. Where has magic monkey gone? Whilst I appreciate your own ideas I mourn his loss (though I have to wonder about his relationship with the painkillers you were taking).

I have run out of painkillers, which is making me grumpy.  I am rather annoyed with the monkey as well.  If I report his cogitations (which are always indecisive until he calls a turn)  I risk my own reputation.  Oh well, I am pseudonymous for a reason:

Monkey says 625 on the 10pm bar was a low.  (He decided that at midnight, two hours later, with the price at 638.50.)  Monkey likes the upside for at least 4 more hours, considers 656 likely resistance.  EDIT: Monkey changed his mind and thinks its going down for 5 hours now.

On a daily basis, monkey is expecting to stay biased long until next Tuesday.  He first started to like the upside on the 16th, which was a pretty good call, methinks.  He had thought the 29th might turn south, but he was (a) wrong and (b) hedging.

On a weekly basis, the last time monkey gave up on his longs was the week of the 13th of December, 2013.  He failed to call that top out clearly, although he was on the verge of doing so.  He decided he liked the long side again the week of the 23rd of May, 2014, and is presently expecting to stay long for at least a month and a half.

Disclaimer:  The monkey swills expensive single malts constantly.  Invest accordingly (i.e., in distillers).  Monkey is a fuzzy reasoner.

Sorry for my ignorance but what the fuck are you guys calling magic monkey? Is it a price prediction model?

[DubFX]

Oh well so price will go down again cuz of these news that we don't even know if they are real?

[Gingermod]

Oh well so price will go down again cuz of these news that we don't even know if they are real?

It'll be stable. We just don't have the bid power to break 680.

[Parazyd]

I see fuzz on page 7095. How awesome! Are there any fellow guitarists here?

[BBmodBB]

I've been out of the loop for a little bit.  What caused the sudden $200+ rise over the past couple of weeks?

Me.

I want so badly to put Jesus Christ on ignore, but I just can't bring myself to do it.

I recall I was faced with a similar problem at school.  I resolved to refrain from ignoring him but instead chose to ignore almost everyone who quoted him.

====> BTCITCOIN JUST NEEDS MORE COFFEE!!!!  

[dreamspark]

I am sorry if my words were misleading. My english is not so good. I believe Nxt is in an uptrend long term so like BTC you don't have to worry when it goes down because it will go way upper later. Whereas with LTC you do have to worry because in the end it will be way lower. LTC went constantly down for weeks now, and no i don't think it is oversold by now. I hope i made myself clear. Don't want to short LTC though because it is testing strong support. Holding BTC and Nxt makes much more money.

Ah okay that makes much more sense

I wouldn't short it either but it really wouldn't surprise me if it carried on its journey south!

[aminorex]

Sorry for my ignorance but what the fuck are you guys calling magic monkey? Is it a price prediction model?

Of all the dart throwing monkeys, the magic one is my favorite.  He has been bred from lucky progenitors for innumerable generations, in hopes that he would prove genetically luckier than all the other monkeys.  I am constantly tinkering with his brain, in my idle hours, and putting him through increasingly rigorous tests.  I once tried to shoot him with an AK-47.  It jammed.  I think he's a very lucky monkey.

If you're hoping for any explanations from me beyond fairy tales and just-so stories, tounge-in-my-cheek and pulley-on-your-leg, you'll have to wait until I've got either (a) something fit for peer-review and publication, or (b) a fund to pitch to skeptical investors.  Pretty useless, I know, but hopefully at least mildly entertaining.  If you think of the monkey as half a bit of information in a gigabit sack, you probably won't be led astray (much).

I might start a monkey thread, but I don't have the bandwidth to start anything.

[Bitcoin_is_here_to_stay]

Hey I adjusted my fib lines so that the bottom is $380 instead of $340 since $380 was breached only once and very briefly. Now it makes more sense.

TERA, very interesting. So it means that currently resistance is $678 and support $566? I think we also have a smaller resistance now at ~$650, which coincides with sMA 200 and the neckline from recent triple top.

[TooDumbForBitcoin]

I've noticed a curious duality in your posts recently. Where has magic monkey gone? Whilst I appreciate your own ideas I mourn his loss (though I have to wonder about his relationship with the painkillers you were taking).

I have run out of painkillers, which is making me grumpy.  I am rather annoyed with the monkey as well.  If I report his cogitations (which are always indecisive until he calls a turn)  I risk my own reputation.  Oh well, I am pseudonymous for a reason:

Monkey says 625 on the 10pm bar was a low.  (He decided that at midnight, two hours later, with the price at 638.50.)  Monkey likes the upside for at least 4 more hours, considers 656 likely resistance.  EDIT: Monkey changed his mind and thinks its going down for 5 hours now, sees support at 629 and at the 100 hour smavg.

On a daily basis, monkey is expecting to stay biased long until next Tuesday.  He first started to like the upside on the 16th, which was a pretty good call, methinks.  He had thought the 29th might turn south, but he was (a) wrong and (b) hedging.

On a weekly basis, the last time monkey gave up on his longs was the week of the 13th of December, 2013.  He failed to call that top out clearly, although he was on the verge of doing so.  He decided he liked the long side again the week of the 23rd of May, 2014, and is presently expecting to stay long for at least a month and a half.

Disclaimer:  The monkey swills expensive single malts constantly.  Invest accordingly (i.e., in distillers).  Monkey is a fuzzy reasoner.

Does Monkey every throw his own poo?

[BBmodBB]

I see fuzz on page 7095. How awesome! Are there any fellow guitarists here?

  YOU KNOW THIS MANG

[Parazyd]

I see fuzz on page 7095. How awesome! Are there any fellow guitarists here?

  YOU KNOW THIS MANG

Doom and stoner all the way!

[ChartBuddy]

Explanation

[watcoin]

Sorry for my ignorance but what the fuck are you guys calling magic monkey? Is it a price prediction model?

Of all the dart throwing monkeys, the magic one is my favorite.  He has been bred from lucky progenitors for innumerable generations, in hopes that he would prove genetically luckier than all the other monkeys.  I am constantly tinkering with his brain, in my idle hours, and putting him through increasingly rigorous tests.  I once tried to shoot him with an AK-47.  It jammed.  I think he's a very lucky monkey.

If you're hoping for any explanations from me beyond fairy tales and just-so stories, tounge-in-my-cheek and pulley-on-your-leg, you'll have to wait until I've got either (a) something fit for peer-review and publication, or (b) a fund to pitch to skeptical investors.  Pretty useless, I know, but hopefully at least mildly entertaining.  If you think of the monkey as half a bit of information in a gigabit sack, you probably won't be led astray (much).

I might start a monkey thread, but I don't have the bandwidth to start anything.

Is he related to Maggie?

http://www.youtube.com/watch?v=cOmGT6U6K00

In the day she was a better predictor than than the professional talking heads.

[TERA]

TERA, very interesting. So it means that currently resistance is $678 and support $566? I think we also have a smaller resistance now at ~$650, which coincides with sMA 200 and the neckline from recent triple top.

If you draw the bottom at $340, then you have support at $530 and resistance at $650. If you draw the bottom at $380, then you have support at $560 and resistance at $675. I'm not sure which one to use.

[aminorex]

Why would Yuan collapse? It's as good as ever.

Huge banking sector bubble similar to japan in the late 80's

And the yen has not collapsed.  Don't fool yourself the yuan isn't going anywhere.  All of that debt is public debt and the Chinese debt to GDP ratio is only 31%.  Without even considering tools like quantative easing.

yuan will go down because they want it to go down because they need jobs because the people are revolting because they are a bunch of dirty slaves because the ccp is a gang of slaveowners because it makes them rich because they can export labor because its a global market because trade barriers are a drag because ricardo

[Globb0]

Not only did I found more Chinese FUD but also that Jesus Christ is a hodler

You didn't know already?

He started out with only 5 breadcoins and 2 fishcoins