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

[macsga]

http://newsbtc.com/2014/06/23/canada-regulation-at-national-level/

Have you actually read it? The regulations seem very restrictive, e.g. Coinbase could not continue to sell btc to Canadian residents until it obtains full Canadian license. Any btc business would have to be fully compliant with Canadian AML/KYC laws if they want to service Canadian citizens. Likes of Bitfinex or BTC-e will not care, but businesses located in US would or those in Europe. They end the article by recalling one of the biggest Swiss banks ruined by a similar law. How is such a restrictive legislation in Canada bullish?

I'm glad you asked. You see there are two ways to see this. The first is the one you've very well stated above. The other one is that no matter how restrictive this regulation is, we've been waiting for a BIG country to regulate BTC for a long time now. It's one of the big movements that will trigger others to do so too. Do you seriously expect the whole world to embrace BTC happily? People don't like change. They stick with what it works.

Baby steps have been taken so far for BTC. Let's hope this regulation manages to mark a bigger change for it.

PS: Bullish, Bearish... Doesn't matter for me; check my sig.

[Raystonn]

BBB: https://www.youtube.com/watch?v=vwvySkrUBlA&feature=kp

"If you think bitcoin should work within our current systems, if you get excited when entities of authority acknowledge it, if you hope for its taxation and regulation, then you are thinking basic. No, you are worse; you are pandering."

[edwardspitz]

The candle has been lit.

What candle?

Yeah, what do you mean, Tera?

Lol

Possibly Tera means that there is finally a green 1wk macd candle on Bitstamp. It was sort of confirmed with high volume. It is barely lit   It could be positive if we are dealing with macd obsessed whale Long time ago I remember Tera said that a green 1 wk macd could indicate that it is a good time to buy (or maybe build on a position?). I can't tell if that was a joke or not. Tera likes to be a bit cryptic sometimes.

The best oracles are that way . Although 1w MACD on Bitstamp not confirmed yet, just one green candle, which can still change. Their weeks ends Wed, iirc

That is true I did not know that the weekly candles close on Wednesdays.

[macsga]

BBB: https://www.youtube.com/watch?v=vwvySkrUBlA&feature=kp

"If you think bitcoin should work within our current systems, if you get excited when entities of authority acknowledge it, if you hope for its taxation and regulation, then you are thinking basic. No, you are worse; you are pandering."

Opinions may differ. Besides I've never questioned my insanity (check on the left column - first word) but frankly, IRL, same rules apply. IMHO, when and if BTC will prevail over the current monetary system, it won't be perfect! It won't be panacea - but as long as those banksters will have their ability to create money out of their asses taken away; this alone, will be enough for me!

[bangersdad]

The US Federal Government is selling bitcoin - what more of an endorsement do prospective buyers need! it gives them the official stamp of approval.

[JorgeStolfi]

Alright. So when FBI sell seized btc, the price will go down?

Methinks it depends on whether (a) the sale price will be disclosed or not, and (b) the coins will be bought at about the current market price, well above it, or well below it.

If the sale price will not be disclosed, then:

* if all the coins are bought near or well above market, then there should be no effect on price, maybe.

* if some of the coins are bought 30% below market (say), the buyer may be tempted to dump his coins even if it makes the price fall 25% below market.

If the sale price gets disclosed, then:

* if all the coins are bought well above market price, that would generally make people more confident, so the price should rise;

* conversely, if some of the coins are bought well below market, that will make people less confident, and the price shoudl fall.  Morever,
the buyers may dump, as per above.

* otherwise (some coins bought near market, none well below market) it should have no effect.
 

[ChartBuddy]

Explanation

[Bagatell]

The US Federal Government is selling bitcoin - what more of an endorsement do prospective buyers need! it gives them the official stamp of approval.

More KY with that endorsement, bitch?

[JayJuanGee]

The candle has been lit.

What candle?

Yeah, what do you mean, Tera?

Lol

Possibly Tera means that there is finally a green 1wk macd candle on Bitstamp. It was sort of confirmed with high volume. It is barely lit   It could be positive if we are dealing with macd obsessed whale Long time ago I remember Tera said that a green 1 wk macd could indicate that it is a good time to buy (or maybe build on a position?). I can't tell if that was a joke or not. Tera likes to be a bit cryptic sometimes.

The best oracles are that way . Although 1w MACD on Bitstamp not confirmed yet, just one green candle, which can still change. Their weeks ends Wed, iirc

That is true I did not know that the weekly candles close on Wednesdays.

NOW, you know.... 

[wachtwoord]

The candle has been lit.

What candle?

Yeah, what do you mean, Tera?

Lol

Possibly Tera means that there is finally a green 1wk macd candle on Bitstamp. It was sort of confirmed with high volume. It is barely lit   It could be positive if we are dealing with macd obsessed whale Long time ago I remember Tera said that a green 1 wk macd could indicate that it is a good time to buy (or maybe build on a position?). I can't tell if that was a joke or not. Tera likes to be a bit cryptic sometimes.

The best oracles are that way . Although 1w MACD on Bitstamp not confirmed yet, just one green candle, which can still change. Their weeks ends Wed, iirc

That is true I did not know that the weekly candles close on Wednesdays.

NOW, you know.... 

I believe it's Sunday, but any choice is arbitrary. It should be TSD (Trailing-Seven-Days) anyway.

[JayJuanGee]

..............................  [    -    shortened -  ]................

That is true I did not know that the weekly candles close on Wednesdays.

NOW, you know.... 

I believe it's Sunday, but any choice is arbitrary. It should be TSD (Trailing-Seven-Days) anyway.

I think the weekly MACD on Bitstamp closes at around midnight UT on Wednesdays.  You will see a new candle form at that time.  I have been approximating the candle for Wednesday, and if BTC prices close above about $582 on Wednesday, then the weekly candle will be green, and if it closes below about $582, it will be red..   My theory is that there is going to be an attempt to keep prices below $582 by the end of the weekly candle.

I am NOT sure what you mean by TSD - b/c surely each new candle allows for the BTC price to close lower and then to turn green, so next Wednesday, the BTC price will have to be below $560 or something like that in order to remain red.... either way, the MACD weekly is surely on the cusp of turning green... and it could float in this limbo land for a little bit before actually going fully and unambiguously green.

[aminorex]

My theory is that there is going to be an attempt to keep prices below $582 by the end of the weekly candle.

My theory is that you could not prevent it if you tried.

[Gianluca95]

The US Federal Government is selling bitcoin - what more of an endorsement do prospective buyers need! it gives them the official stamp of approval.

Yes, exactly. But more people have afraid to buy bitcoin because price is uncertainly in this moment.

[wachtwoord]

..............................  [    -    shortened -  ]................

That is true I did not know that the weekly candles close on Wednesdays.

NOW, you know.... 

I believe it's Sunday, but any choice is arbitrary. It should be TSD (Trailing-Seven-Days) anyway.

I think the weekly MACD on Bitstamp closes at around midnight UT on Wednesdays.  You will see a new candle form at that time.  I have been approximating the candle for Wednesday, and if BTC prices close above about $582 on Wednesday, then the weekly candle will be green, and if it closes below about $582, it will be red..   My theory is that there is going to be an attempt to keep prices below $582 by the end of the weekly candle.

I am NOT sure what you mean by TSD - b/c surely each new candle allows for the BTC price to close lower and then to turn green, so next Wednesday, the BTC price will have to be below $560 or something like that in order to remain red.... either way, the MACD weekly is surely on the cusp of turning green... and it could float in this limbo land for a little bit before actually going fully and unambiguously green.

Just calculate the candles in a rolling fashion. As in: the last candle always closes right now. Never any open candles anymore and continuous insight.

[ChartBuddy]

Explanation

[Bitcoin_is_here_to_stay]

..............................  [    -    shortened -  ]................

That is true I did not know that the weekly candles close on Wednesdays.

NOW, you know.... 

I believe it's Sunday, but any choice is arbitrary. It should be TSD (Trailing-Seven-Days) anyway.

I think the weekly MACD on Bitstamp closes at around midnight UT on Wednesdays.  You will see a new candle form at that time.  I have been approximating the candle for Wednesday, and if BTC prices close above about $582 on Wednesday, then the weekly candle will be green, and if it closes below about $582, it will be red..   My theory is that there is going to be an attempt to keep prices below $582 by the end of the weekly candle.

I am NOT sure what you mean by TSD - b/c surely each new candle allows for the BTC price to close lower and then to turn green, so next Wednesday, the BTC price will have to be below $560 or something like that in order to remain red.... either way, the MACD weekly is surely on the cusp of turning green... and it could float in this limbo land for a little bit before actually going fully and unambiguously green.

Just calculate the candles in a rolling fashion. As in: the last candle always closes right now. Never any open candles anymore and continuous insight.

Well, it would also mean that the *past* candles would continuously change - are you sure you would like it?  I think it is much better to have only one last candle uncertain

[wachtwoord]

..............................  [    -    shortened -  ]................

That is true I did not know that the weekly candles close on Wednesdays.

NOW, you know.... 

I believe it's Sunday, but any choice is arbitrary. It should be TSD (Trailing-Seven-Days) anyway.

I think the weekly MACD on Bitstamp closes at around midnight UT on Wednesdays.  You will see a new candle form at that time.  I have been approximating the candle for Wednesday, and if BTC prices close above about $582 on Wednesday, then the weekly candle will be green, and if it closes below about $582, it will be red..   My theory is that there is going to be an attempt to keep prices below $582 by the end of the weekly candle.

I am NOT sure what you mean by TSD - b/c surely each new candle allows for the BTC price to close lower and then to turn green, so next Wednesday, the BTC price will have to be below $560 or something like that in order to remain red.... either way, the MACD weekly is surely on the cusp of turning green... and it could float in this limbo land for a little bit before actually going fully and unambiguously green.

Just calculate the candles in a rolling fashion. As in: the last candle always closes right now. Never any open candles anymore and continuous insight.

Well, it would also mean that the *past* candles would continuously change - are you sure you would like it?  I think it is much better to have only one last candle uncertain

Yes I'm very sure. It's the most accurate representation of what's happening. Choosing fixed days is a really limited way of looking at the data.

[adamstgBit]

 

[ChartBuddy]

Explanation

[anujjain]

 

lol adam, btw nice pick you chose.