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

[JayJuanGee]

What  caused te next drop? Aren't we supposed to head up? 

Personally, i doubt that anyone really knows... we have consolidation that goes on for a while.. and pushes by some to bring the price down .... but yes, at any moment, we could get some solid fairy god mother whales that cause the price to go up, rather than down.... we could be in this down or flat momentum for a few weeks, which could then cause a dissuading pressure and then further downward pressure...   NONETHELESS, ultimately we are going to have an upward rocket.. it is just a matter of when., whether this week or 1 or 2 months from now...

[oda.krell]

What  caused te next drop? Aren't we supposed to head up?  

Nothing "caused" the drop other than individual market participants' choices (some of which admittedly have larger wallets than others). Could be the attempt by a larger player to move the market in his preferred direction (triggering panic selling), but more likely, it's just someone taking a profit and limiting his risk, by betting on further consolidation or price decline.

We're now either in a consolidation phase after an impressive rise and before another leg up, or the mid-May rally ran out of steam and the market is in a state now that could be summarized as: "reluctant to accept that the only way is down". Depends on who you ask which answer you get.

[ChartBuddy]

Explanation

[StarenseN]

[manfred]

[samsonn25]

What  caused te next drop? Aren't we supposed to head up? 

It dropped 10 points from 655 to 645.  Noone talks about the 200 point jump from the mid 450 just 3 weeks ago.

[blatchcorn]

This is simply a mini-bear trap before the jump to $1k.  At which the price will be sticky for the most of this year until a mega rally to $10k

[Searing]

This is simply a mini-bear trap before the jump to $1k.  At which the price will be sticky for the most of this year until a mega rally to $10k

I want your 'delusions' they seem pleasant please post here so i can 'copy $ paste them' with my 'tinfoil hat usb interface"

thank you

Searing
 

[JayJuanGee]

This is simply a mini-bear trap before the jump to $1k.  At which the price will be sticky for the most of this year until a mega rally to $10k

That's kind of in the ballpark of my thinking too.. though I am thinking that we will float in the $750 to $850 range for a while.. and then BTC prices will shoot up to about $4-5K, then come back down to around $2k.. before the next phase to $10K-ish - which may be mid 2015-ish

[Ivanhoe]

There is of course also the possibility we hit http://en.wikipedia.org/wiki/Critical_mass_(sociodynamics) and that we don't see much bubble's and long bear markets again.

[edwardspitz]

What  caused te next drop? Aren't we supposed to head up?  

Nothing "caused" the drop other than individual market participants' choices (some of which admittedly have larger wallets than others). Could be the attempt by a larger player to move the market in his preferred direction (triggering panic selling), but more likely, it's just someone taking a profit and limiting his risk, by betting on further consolidation or price decline.

We're now either in a consolidation phase after an impressive rise and before another leg up, or the mid-May rally ran out of steam and the market is in a state now that could be summarized as: "reluctant to accept that the only way is down". Depends on who you ask which answer you get.

I agree. But that guy @ Stamp needs to loosen his grip a little and consider that traders (new and old) are so excited about bitcoin these days that they add much fiat

[oda.krell]

This is simply a mini-bear trap before the jump to $1k.  At which the price will be sticky for the most of this year until a mega rally to $10k

That's kind of in the ballpark of my thinking too.. though I am thinking that we will float in the $750 to $850 range for a while.. and then BTC prices will shoot up to about $4-5K, then come back down to around $2k.. before the next phase to $10K-ish - which may be mid 2015-ish

y'all seem to be quoting straight from the various time series linear regression extrapolations that make the rounds in here... to quote the great chodpaba:

[JayJuanGee]

This is simply a mini-bear trap before the jump to $1k.  At which the price will be sticky for the most of this year until a mega rally to $10k

That's kind of in the ballpark of my thinking too.. though I am thinking that we will float in the $750 to $850 range for a while.. and then BTC prices will shoot up to about $4-5K, then come back down to around $2k.. before the next phase to $10K-ish - which may be mid 2015-ish

y'all seem to be quoting straight from the various time series linear regression extrapolations that make the rounds in here... to quote the great chodpaba:

Personally, I am NOT trying to make anything happen.  I am just making a prediction.. there is a difference between trying to make something happen and just predicting what you think will happen.


At the same time, I am NOT betting the farm on my best guess of a prediction, b/c I do NOT invest in that kind of balls to the walls fashion...  My assets are somewhat diversified with all new investment funds going towards bitcoin...   rather than going towards stock (which would have been my investment had I NOT researched into bitcoin).

[ChartBuddy]

Explanation

[JayJuanGee]

Bedtime for me, now.

I just bought 10BTC, and maybe I will buy another 10 in the morning... or maybe later in the day... depending upon how I feel... At this point, I would rather see down, rather than up, but my 10BTC hedges in the event that prices go up while I am sleeping.

[oda.krell]

This is simply a mini-bear trap before the jump to $1k.  At which the price will be sticky for the most of this year until a mega rally to $10k

That's kind of in the ballpark of my thinking too.. though I am thinking that we will float in the $750 to $850 range for a while.. and then BTC prices will shoot up to about $4-5K, then come back down to around $2k.. before the next phase to $10K-ish - which may be mid 2015-ish

y'all seem to be quoting straight from the various time series linear regression extrapolations that make the rounds in here... to quote the great chodpaba:

Personally, I am NOT trying to make anything happen.  I am just making a prediction.. there is a difference between trying to make something happen and just predicting what you think will happen.


At the same time, I am NOT betting the farm on my best guess of a prediction, b/c I do NOT invest in that kind of balls to the walls fashion...  My assets are somewhat diversified with all new investment funds going towards bitcoin...   rather than going towards stock (which would have been my investment had I NOT researched into bitcoin).

I know you're not literally pushing for it to  happen. I just can't see how people expect a sustained reversal of the crushing bear market we just left behind, a bubble, a correction, another sustained reversal / consolidation period,and then another bubble on top, all in less than a year's time, especially when volatility is overall slightly decreasing over time (slightly. Use long term bbw as a measure for example)

[edwardspitz]

Bedtime for me, now.

I just bought 10BTC, and maybe I will buy another 10 in the morning... or maybe later in the day... depending upon how I feel... At this point, I would rather see down, rather than up, but my 10BTC hedges in the event that prices go up while I am sleeping.

We'll give you a call if shit hits the fan, but so far it looks like we are recovering I just saw that there is a new alarm feature on Bitcoinwisdom. That site is awesome.

[MatTheCat]

We're now either in a consolidation phase after an impressive rise and before another leg up, or the mid-May rally ran out of steam and the market is in a state now that could be summarized as: "reluctant to accept that the only way is down". Depends on who you ask which answer you get.

With Bitcoin consolidation phases, the market nearly always 'fakes out' sending those with weak resolve in the opposite direction (I should know, I have been 'faked out' several times switching would-be Killer Trades around to losers at the very last minute in a bout of uncontrollable impulsive twitchiness). $64K question is: Was the fake out this morning (5am UTC) when there was some 2K BTC worth of action (lead and dominated by Stamp) that took price down to $640? Or was the fake out two days ago when we trundled over the resistance trend of the consolidation since $683?

This is simply a mini-bear trap before the jump to $1k.  At which the price will be sticky for the most of this year until a mega rally to $10k

I want your 'delusions' they seem pleasant please post here so i can 'copy $ paste them' with my 'tinfoil hat usb interface"

thank you

Searing
 

+1

This fucking dullard's comments are not helpful to anyone contemplating the best course of action. Infact, they smell of bulltard 'hope' and being presently long on Bitcoin, that makes me nervous.

[madmat]

Bedtime for me, now.

I just bought 10BTC, and maybe I will buy another 10 in the morning... or maybe later in the day... depending upon how I feel... At this point, I would rather see down, rather than up, but my 10BTC hedges in the event that prices go up while I am sleeping.

Each time I send some fiat to my favorite exchange, I can't wait more than 2 days before converting it to bitcoin. Always afraid of price skyrocketing before I buy. It seems I am not the only one.

I found a solution, if the trend is bearish, I make a trailing order.

[roslinpl]

Volume is going a bit up. Perhaps due to Monday. Price is going  a little down.

What are your predictions for this week? Will we hit $700?