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

[JimboToronto]

LOL  

Price drops by a dozen dollars and the beartrolls are chirping like a tree full of chickadees.

How, er, "cheerful and carefree".



"See them gaily gad about.
They love to play and shout,
They never have any care"

LOL.

 

hahahahahaha

[1714827873]

1714827873

[Room101]

apologies if this has already been asked and answered, but will we know what the coins have sold for on the 27th? I didn't think such things were reported?

[Wary]

1w MACD's histogram is not green anymore. Not that it matters much.

[JimboToronto]

apologies if this has already been asked and answered, but will we know what the coins have sold for on the 27th? I didn't think such things were reported?

One would think that the American people would at least hold their government responsible to the point of disclosing the total revenues, or are they that brainwashed as to give them leeway for major graft?

[TERA]

1w MACD's histogram is not green anymore. Not that it matters much.

TA is extremely difficult at this moment the way trends are breaking and all kinds of indicators are conflicting. Investing in Bitcoin right now is basically an act of faith. "I believe that Bitcoin is the future of money and will eventually rise even if it's not rising right now". I'm finding myself looking to take a long term investment with money that I'm willing to lose and closing out the rest of my 'trading position'.

[ibankbitcoins]

Bulls need to bid above the resistance line to invalidate this target. If we continue to breakdown, target is 550. @ibankbitcoins

http://ibankbitcoins.com/sites/default/files/resize/users/user1/2014-06-24_chart-947x661.jpg

[ChartBuddy]

Explanation

[windjc]

I am impressed with the last 2 hours. There is still some fighting chance left if there is a good recovery over the next 8 hours.

Oh, jess. Drama much?

[windjc]

This is bad, we are touching the Long term trend line at Stamp at 572 and nobody is buying wtf???

Of course nobody is buying. There is a huuuge major event coming up that controls the whole market and could put us down by a massive amount.

I know about the silk road auction and I know that until the 27th we won't see huge spikes, I'm just saying that nobody seems to be defending the VERY important long term trend line. A Big dump could take us way below that trend line, which would be TERRIBLE for BTC.

I like lines!

which line were you referring to exactly?

Yes that one pretty much





If you draw the trend line with the two points at red arrows you would have predicted
1: the $340 crash bottom
2: confirmation of the trend reversal with the huge pump "out of nowhere"
3: bounce from the last 680-540 crash


that trend line

What, you thought this trend line could go on forever?

Haha.  Why, exactly? Because Bitcoin said so?

[Bitcoin_is_here_to_stay]

This is bad, we are touching the Long term trend line at Stamp at 572 and nobody is buying wtf???

Of course nobody is buying. There is a huuuge major event coming up that controls the whole market and could put us down by a massive amount.

I know about the silk road auction and I know that until the 27th we won't see huge spikes, I'm just saying that nobody seems to be defending the VERY important long term trend line. A Big dump could take us way below that trend line, which would be TERRIBLE for BTC.

I like lines!

which line were you referring to exactly?

Yes that one pretty much





If you draw the trend line with the two points at red arrows you would have predicted
1: the $340 crash bottom
2: confirmation of the trend reversal with the huge pump "out of nowhere"
3: bounce from the last 680-540 crash


that trend line

What, you thought this trend line could go on forever?

Haha.  Why, exactly? Because Bitcoin said so?

More interesting question is where a new support line would form (assuming trend is broken). "The bubble baseline" - somewhere between $100 and $200 seems way too pessimistic, imho.

[JorgeStolfi]

apologies if this has already been asked and answered, but will we know what the coins have sold for on the 27th? I didn't think such things were reported?

This question has been asked and answered, indeed. It is on the USMS FAQ, whose link is at the top of the auction announcement.

The USMS will not release any information about the outcome; they will notify the winners that they have won and must send the payment, and tell the losers that they have not won, period.  BUT on the next line they next give instructions on how to submit a FOIA request, BUT BUT they remind readers that there are exceptions to what you can get with a FOIA.

If you still cannot read this answer, try un-ignoring me, just for this post. 

[windjc]

This is bad, we are touching the Long term trend line at Stamp at 572 and nobody is buying wtf???

Of course nobody is buying. There is a huuuge major event coming up that controls the whole market and could put us down by a massive amount.

I know about the silk road auction and I know that until the 27th we won't see huge spikes, I'm just saying that nobody seems to be defending the VERY important long term trend line. A Big dump could take us way below that trend line, which would be TERRIBLE for BTC.

I like lines!

which line were you referring to exactly?

Yes that one pretty much





If you draw the trend line with the two points at red arrows you would have predicted
1: the $340 crash bottom
2: confirmation of the trend reversal with the huge pump "out of nowhere"
3: bounce from the last 680-540 crash


that trend line

What, you thought this trend line could go on forever?

Haha.  Why, exactly? Because Bitcoin said so?

More interesting question is where a new support line would form (assuming trend is broken). "The bubble baseline" - somewhere between $100 and $200 seems way too pessimistic, imho.

Well if we, for a moment, throw arbitrary log lines out the window and just focus on common sense, we will note that the gutting of MtGox and the major desimation of the China Bitcoin markets brought us down to 360ish and then resolved into the low 400's where we literally ran out of sellers.

So, if we assume nothing worse than those two huge negative events occurs in the near future, we are not going to go below the 420s, because people will refuse to sell.

The 78% retracement is around $530ish. That's probably as low as we go. Maybe 500 on a really bad sell off.

The other option is we go UP!  However, that doesn't mean we go follow this arbitrary trend line everyone is crapping the bed about.

[akujin]

Nice! They broke it   

[Raystonn]

With Bitcoin, the candle highs and lows are easily manipulated due to the size of the market.  The best way to represent trendlines are thus to base off the candle close.

This is the one I'm monitoring on the daily chart.  But again, I'd only declare it broken if a candle actually closed beneath it.

[ChartBuddy]

Explanation

[akujin]

With Bitcoin, the candle highs and lows are easily manipulated due to the size of the market.  The best way to represent trendlines are thus to base off the candle close.

This is the one I'm monitoring on the daily chart.  But again, I'd only declare it broken if a candle actually closed beneath it.

But the candle close changes if you use a different time interval on Bwisdom

[ChartBuddy]

Explanation

[akujin]

GO go go huobi! 

[Bitcoin_is_here_to_stay]

This is bad, we are touching the Long term trend line at Stamp at 572 and nobody is buying wtf???

Of course nobody is buying. There is a huuuge major event coming up that controls the whole market and could put us down by a massive amount.

I know about the silk road auction and I know that until the 27th we won't see huge spikes, I'm just saying that nobody seems to be defending the VERY important long term trend line. A Big dump could take us way below that trend line, which would be TERRIBLE for BTC.

I like lines!

which line were you referring to exactly?

Yes that one pretty much





If you draw the trend line with the two points at red arrows you would have predicted
1: the $340 crash bottom
2: confirmation of the trend reversal with the huge pump "out of nowhere"
3: bounce from the last 680-540 crash


that trend line

What, you thought this trend line could go on forever?

Haha.  Why, exactly? Because Bitcoin said so?

More interesting question is where a new support line would form (assuming trend is broken). "The bubble baseline" - somewhere between $100 and $200 seems way too pessimistic, imho.

Well if we, for a moment, throw arbitrary log lines out the window and just focus on common sense, we will note that the gutting of MtGox and the major desimation of the China Bitcoin markets brought us down to 360ish and then resolved into the low 400's where we literally ran out of sellers.

So, if we assume nothing worse than those two huge negative events occurs in the near future, we are not going to go below the 420s, because people will refuse to sell.

The 78% retracement is around $530ish. That's probably as low as we go. Maybe 500 on a really bad sell off.

The other option is we go UP!  However, that doesn't mean we go follow this arbitrary trend line everyone is crapping the bed about.

yeah, I am also betting on previous bottoms: most likely $522-538, if not $450 or at worse $340, though not very likely. A year from now, even "bubble baseline" (exponential) will be around today's price.

[Davyd05]

We just continuing to see a front run on the fear of the to be Auctioned coins, or the bitcoinverse just doing its thang.