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

[molecular]

Most of the other alt-coins are declining in price right now.  BTC and LTC are holding up pretty well and have stayed pretty flat today... Namecoin and Peercoin are not doing so hot...

The fault of new alt-coins Drk, Xc,Nxt etc which brings new features and are more hyped.
LTC is being kept alive by a massive bid wall on btc/ltc chart. Furthermore ASIC for scrypt  is adding constant selling pressure to recoup their mining hardware investment.

good analysis.

I don't see the point in LTC any more. 2nd coin will probably be some other coin.

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[ChartBuddy]

Explanation

[T.Stuart]

Most of the other alt-coins are declining in price right now.  BTC and LTC are holding up pretty well and have stayed pretty flat today... Namecoin and Peercoin are not doing so hot...

The fault of new alt-coins Drk, Xc,Nxt etc which brings new features and are more hyped.
LTC is being kept alive by a massive bid wall on btc/ltc chart. Furthermore ASIC for scrypt  is adding constant selling pressure to recoup their mining hardware investment.

good analysis.

I don't see the point in LTC any more. 2nd coin will probably be some other coin.

At the risk of sounding controversial, I think it will become a battle between lite and drk ! 

[bangersdad]

Most of the other alt-coins are declining in price right now.  BTC and LTC are holding up pretty well and have stayed pretty flat today... Namecoin and Peercoin are not doing so hot...

The fault of new alt-coins Drk, Xc,Nxt etc which brings new features and are more hyped.
LTC is being kept alive by a massive bid wall on btc/ltc chart. Furthermore ASIC for scrypt  is adding constant selling pressure to recoup their mining hardware investment.

good analysis.

I don't see the point in LTC any more. 2nd coin will probably be some other coin.

At the risk of sounding controversial, I think it will become a battle between lite and drk ! 

Hi T.Stuart...what do you think about NXT?

[T.Stuart]

Most of the other alt-coins are declining in price right now.  BTC and LTC are holding up pretty well and have stayed pretty flat today... Namecoin and Peercoin are not doing so hot...

The fault of new alt-coins Drk, Xc,Nxt etc which brings new features and are more hyped.
LTC is being kept alive by a massive bid wall on btc/ltc chart. Furthermore ASIC for scrypt  is adding constant selling pressure to recoup their mining hardware investment.

good analysis.

I don't see the point in LTC any more. 2nd coin will probably be some other coin.

At the risk of sounding controversial, I think it will become a battle between lite and drk ! 

Hi T.Stuart...what do you think about NXT?

Also a contender to beat ltc of course but proposing a different angle from ltc, btc and drk... but it has competitors and has been around quite long without taking 2nd on coinmarket from ltc, which makes me think it will have a harder time gaining the traction necessary due to being old news. But that said it does seem to be getting pumped at the moment...

[bangersdad]

Most of the other alt-coins are declining in price right now.  BTC and LTC are holding up pretty well and have stayed pretty flat today... Namecoin and Peercoin are not doing so hot...

The fault of new alt-coins Drk, Xc,Nxt etc which brings new features and are more hyped.
LTC is being kept alive by a massive bid wall on btc/ltc chart. Furthermore ASIC for scrypt  is adding constant selling pressure to recoup their mining hardware investment.

good analysis.

I don't see the point in LTC any more. 2nd coin will probably be some other coin.

At the risk of sounding controversial, I think it will become a battle between lite and drk ! 

Hi T.Stuart...what do you think about NXT?

Also a contender to beat ltc of course but proposing a different angle from ltc, btc and drk... but it has competitors and has been around quite long without taking 2nd on coinmarket from ltc, which makes me think it will have a harder time gaining the traction necessary due to being old news. But that said it does seem to be getting pumped at the moment...

thanks for your thoughts...you should write a crypto blog as you seem to have a good insight.

[ChartBuddy]

Explanation

[alani123]

Can anyone tell me where do you guys watch btc walls. On stamp ?
I'm new to this wall thing.

http://bitcoincharts.com/markets/ Is really usefull! It lists exchanges by volume and has an instant update each time a trade is exevuted in one of them.

[dnaleor]

Seems like we are below support... This is not looking bullish to me. Hopefully just a pause in the rally

[Davyd05]

Seems like we are below support... This is not looking bullish to me. Hopefully just a pause in the rally

edited**refer to original for graph hate the wasted space scrolling**-Davyd05

Sitting just below my 38.6% @ 654 3D fib lvl retracing from the peak of dec to the low of april.

Perhaps a calm weekend with a strong weekday, or sideways as confidence builds at higher price points

[ChartBuddy]

Explanation

[dnaleor]

Seems like we are below support... This is not looking bullish to me. Hopefully just a pause in the rally

edited**refer to original for graph hate the wasted space scrolling**-Davyd05

Sitting just below my 38.6% @ 654 3D fib lvl retracing from the peak of dec to the low of april.

Perhaps a calm weekend with a strong weekday, or sideways as confidence builds at higher price points

sideways would be OK for me, but we are also below the decending resistance line...
(If that line would become support, a sideways trend would be the outcome.

[Globb0]

DON'T BUY ALTCOINS! you morons!

 

I wish I took this advice a week ago

[JayJuanGee]

Seems like we are below support... This is not looking bullish to me. Hopefully just a pause in the rally

edited**refer to original for graph hate the wasted space scrolling**-Davyd05

Sitting just below my 38.6% @ 654 3D fib lvl retracing from the peak of dec to the low of april.

Perhaps a calm weekend with a strong weekday, or sideways as confidence builds at higher price points

sideways would be OK for me, but we are also below the decending resistance line...
(If that line would become support, a sideways trend would be the outcome.

I agree sideways for a few weeks may be healthy... b/c at some point, the public and various new investors and/or peeps on the sideline are reconsidering their prior bearish sentiments.. then the conversion and transition into bull status may be better to take place slowly.

By the way, I believe that historically, it has been more common for weekends to be slower and lower volume and dump rather than rising periods, so in that regard the last two weekends of rallies were probably more flukes than anything.


There are probably a lot of long time posters here that can say more particularly if they believe weekends to be  a dumping time or a pumping time and if there is pumping, it would be more in line with the very end of the weekend rather than the beginning or the middle of the weekend.

[deadley]

DON'T BUY ALTCOINS! you morons!

 

I wish I took this advice a week ago

Mostly altcoins are just shit, Pumping and Dumping game.

[bitcoinsrus]

DON'T BUY ALTCOINS! you morons!

 

I wish I took this advice a week ago

Mostly altcoins are just shit, Pumping and Dumping game.

Auroracoin, quark, darkcoin are not pump and dumps 

[ChartBuddy]

Explanation

[MatTheCat]

Seems like we are below support... This is not looking bullish to me. Hopefully just a pause in the rally

You are still using that totally wrong chart. We are no longer on an uptrend phase. We don't need a trendline from the $460-$480 uptrend to tell us that has finished and that we are now consolidating.

Here is the one I am looking at and based upon the grounds that I think all this pennant price action is whale engineered hookeyness, I predicted in this thread that we would test $635, and that with the next test of the resistance line would be the break out, as Wally the Wall Guy either removes or buys up his own wall on the break out.



Of course, Wally the Wall Guy hasn't budged. Perhaps he is sleeping. Perhaps he was genuinely trying to sell and in his noobishness, erected his walls in a manner that drove the price down? Either way, that wall needs to be either pulled, or much more bullishly devoured by either Wally himself, or pressure building up in the wider market.

[CoinHamster]

[...]
..., I predicted in this thread that we would test $635, and that with the next test of the resistance line would be the break out, as Wally the Wall Guy either removes or buys up his own wall on the break out.
]...]

i agree, $635 is my prediction too

 

[MoreFun]

Wall down.