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

[ChrisML]

Massive panic. The sheep are going nuts. The end of Bitcoin.

Mjes mjes indeed. To $-1000,- by tommorow.  

Serious note: All could see this one coming. Fuck me sideways what a bunch of idiots.

I guess we will touch $600,-. I was hoping for that, buy back in at that stage

[ChartBuddy]

Explanation

[blatchcorn]

Idiots selling

[ShroomsKit]

Everyone waits for ages for the price to go up. And when it goes up they totally completely fucking panic and crash the price back where it was before.
Bitcoin traders....

[hd060053]

only 1k to 560 on finex.

[Dotto]

Who the hell is dumping this time?

[fonzie]

Massive panic. The sheep are going nuts. The end of Bitcoin.

Mjes mjes indeed. To $-1000,- by tommorow.  

Serious note: All could see this one coming. Fuck me sideways what a bunch of idiots.

I guess we will touch $600,-. I was hoping for that, buy back in at that stage

So i guess you are among those bunch of idiots that sold?

[ShroomsKit]

Who the hell is dumping this time?

The usual Bitcoin traders. Who else. This is normal for them.

[deadley]

Massive panic. The sheep are going nuts. The end of Bitcoin.

If you cant take 15-20 points downside then you are in wrong place.

[ShroomsKit]

Massive panic. The sheep are going nuts. The end of Bitcoin.

Looks more co-ordinated imho, somewhere around 10k across the major exchanges in the space of a 10 minutes doesn't sound like miners covering costs.

Sure, that is the other option. Good ol manipulation to keep the price down. I don't think that surprises anyone either.

[gizmoh]

http://www.chicagotribune.com/news/sns-rt-us-bitcoin-auction-20140627,0,1104979.story

Chris DeMuth, a partner at Rangeley Capital who had been considering bidding, said last week the chance the Marshals Service gets the market price for the bitcoins is low.

"Anyone could pay market prices on existing exchanges," he said. "So the key question is how much of a discount do bidders want."

[ChrisML]

Who the hell is dumping this time?

Sheebs.

This might be planned, how else can it drop while there is good news around the corner. Oh well, sit it out... HODL, wait and buy back in when the bottom has hit.

[koryu]

guess its mostly manipulation what we see right now?!

[fonzie]

MANIPULATION

SHEEPS

IDIOTS

all over the place


IT´S HAPPENING AGAIN

God help us all

[anujjain]

http://www.chicagotribune.com/news/sns-rt-us-bitcoin-auction-20140627,0,1104979.story

Chris DeMuth, a partner at Rangeley Capital who had been considering bidding, said last week the chance the Marshals Service gets the market price for the bitcoins is low.

"Anyone could pay market prices on existing exchanges," he said. "So the key question is how much of a discount do bidders want."

That was my point last week, why anyone want to pay big premium for those coins, most probably it will sell on little discount.

[KaTXi]

http://www.chicagotribune.com/news/sns-rt-us-bitcoin-auction-20140627,0,1104979.story

Chris DeMuth, a partner at Rangeley Capital who had been considering bidding, said last week the chance the Marshals Service gets the market price for the bitcoins is low.

"Anyone could pay market prices on existing exchanges," he said. "So the key question is how much of a discount do bidders want."

Clever:
- Buy low, once you know (give or take 5%) the medium price (insider trading, friends, not too many people involved so you know a lot of bids from other players...) spend a few thousand dollars driving the price up.
- Once is up enough and the bids from small fishes build up you sell the bitcoins you already have (no need to wait for feds coins) knowing that they will be replaced by fresh and cheaper goverment coins.
- With the huge amount of money made from the small fishes buy again at next bottom once the real figures are out.

Guys that bought at 630+: get ready to be screwed (disclosure: I'm a huge bull for Bitcoin, but this week will be rough)

[hd060053]

http://www.chicagotribune.com/news/sns-rt-us-bitcoin-auction-20140627,0,1104979.story

Chris DeMuth, a partner at Rangeley Capital who had been considering bidding, said last week the chance the Marshals Service gets the market price for the bitcoins is low.

"Anyone could pay market prices on existing exchanges," he said. "So the key question is how much of a discount do bidders want."

That was my point last week, why anyone want to pay big premium for those coins, most probably it will sell on little discount.

when market price is 620, then 640 is also a discout, but its above market price.

if they want to buy 3k now, price is 655

[lay785]

600btc wall at $620 on bitstamp.

[oda.krell]

That would for example be breaking the daily SMA200 conclusively, and almost certainly breaking the previous 680 top.

Hello,

Is this link ok for tracking SMA200 ? And what do you mean breaking ? Crossing above the current price ? Or what ?
http://bitcoincharts.com/charts/bitstampUSD#rg30ztgMza1gSMAzm1g200zm2g25zxzv

Probably better to use candles instead of median price, and set it to show a longer history, for perspective.

http://bitcoincharts.com/charts/bitstampUSD#rg60zigDailyztgSza1gSMAzm1g200zm2g25zxzv

We're currently below the SMA200, and it is probably a significant (moving) resistance, so breaking through form below would be bullish. But note what happened around June 1: we broke through, closed above it (i.e. one day ended while we were above -- note that closing is less important in a 24h market than in a market that actually closes, but not entirely meaningless), but fell back below it regardless.

So the answer is: don't trade based on that alone. If you're interested, find some online resource (or probably better: a book) on TA, and you'll probably find moving averages as lines of resistance/support in general, and the the SMA200 in particular covered. But there is no single "magic" indicator signal you can slavically follow. If there would be such an obvious one, it would be broken through use and become unprofitable in no time.

[Tzupy]

I guess the pump was based on the fake winning bidder's list, and now it's back to normal.