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

[zimmah]

What the hell?

What's up with all the bears lately?

Another flash crash, really? How many more do we need?

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[Krabby]

What the hell?

What's up with all the bears lately?

Another flash crash, really? How many more do we need?

Maybe it will act as the silkroad crash before the massive pump 

[Pruden]

Can you imagine in 1994?

EUROPEAN MAILING AUTHORITY ADVISES POSTAL SERVICES IN EU NOT TO RECEIVE, WRITE OR SEND EMAILS.

Who made them think they have something to say on the matter?

[inca]

i very little about charts. if you look at the 1w chart @bitstamp:

-MA about to cross
-MACD actually finally crossed

who zhe fugg would dump 1300 coins in such a moment ?

Bitcoin about to break out.

Central bank releases 'advice'.

Banking shill account on bitstamp dumps coins.

Price falls.

[rpietila]

Can you imagine in 1994?

EUROPEAN MAILING AUTHORITY ADVISES POSTAL SERVICES IN EU NOT TO RECEIVE, WRITE OR SEND EMAILS.

Who made them think they have something to say on the matter?

+1 (as usual )

[hd060053]

europe banned bitcoin ? 

[Davyd05]

damn it ... I was predicting a drop to 625, with the spring to the next resistance level 749 how fast I don't know

[Ultros]

Looks like the market is still bearish for some reason. Every good news does nothing to the price, while "bad" news (or would I say "FUD" news) make it drop like a rock.

[rpietila]

If I was buying, I'd wait until 580-600 is crossed first. (or 660 which would be the panic buyback zone).

[inca]

Looks like the market is still bearish for some reason. Every good news does nothing to the price, while "bad" news (or would I say "FUD" news) make it drop like a rock.

Well some trader reacted and dumped. The price is only 20$ lower than earlier. Lets see what happens. I wouldn't call this a bearish market.

[600watt]

i very little about charts. if you look at the 1w chart @bitstamp:

-MA about to cross
-MACD actually finally crossed

who zhe fugg would dump 1300 coins in such a moment ?

Bitcoin about to break out.

Central bank releases 'advice'.

Banking shill account on bitstamp dumps coins.

Price falls.

but...  but i am sure the EBA also has guidelines on committing no crime. but virtually all major european banks have been cought stealing, lying, defrauding, cheating in about every imaginable way. 

[ChartBuddy]

Explanation

[Newbie1022]

If I was buying, I'd wait until 580-600 is crossed first. (or 660 which would be the panic buyback zone).

This strikes me as terrible day trading advice -- you are almost certainly bound to lose. For one, it may, but probably won't, drop to $580 to $600 so people would miss a buying opportunity. Additionally, if it hits $660, it may only ride up to $666 before the brake walls which are set up would go into effect and you'd probably fall back into a $630 well. In a nutshell, this is almost a sure fire losing strategy.

Buy low and sell high -- that doesn't mean you try to catch the absolute bottom... you might if you are lucky, but that's not always a feasible entry point especially without perfect information. Therefore, if the price is below what you think is a sort of intrinsic or baseline value, which it is right now by a bit, then you buy. Remember, we were at $660 before the auction news and the news until the recent FUD piece has all been amazingly positive. The European advisory is essentially meaningless because the infrastructure around this currency is growing and it's expansion is set in stone by means of investment and critical energy. Rather, the Europeans are simply telling the banks not to go crazy with the stuff, not to expand deep into derivatives with Bitcoin as a reference, not to distort the market, and not to hold all of their customers money in bitcoin until the exchanges upgrade beyond the security and stability measures they had back during the $10 to $100 days -- the exchanges have hardly changed in that time and the leverage on Bitfinex is f---ing incredible. Ergo, it's not too wild and the only thing that is scandalous is the news article titles that the media put on the story to get a few extra views. That said, the European mention of 51% attacks seemed goofy.

That all aside, I have an eerie feeling.

[Searing]

Can you imagine in 1994?

EUROPEAN MAILING AUTHORITY ADVISES POSTAL SERVICES IN EU NOT TO RECEIVE, WRITE OR SEND EMAILS.

Who made them think they have something to say on the matter?

how is anybody gonna tell my BTC checking account at my local bank (has BTC under my name er that may be a clue)  (just a reg checking accnt so i can save 70 bucks a year in fees
and not be a biz check accnt....thus can you add BTC under my name before my address above trick) ...have a visa biz card attached to such....use www.coinbase.com or whatever

except for me for convenience  using the BTC tag on my checks (which you guys may want to avoid??) how the hell would anyone know you are trading BTC vs just other stuff?

unenforceable unless you break law imho

it is like the 'fiat hard dollar" version of 'abstinence' as a form of birth control....unworkable when passions get 'high' heh

Searing

[inca]

i very little about charts. if you look at the 1w chart @bitstamp:

-MA about to cross
-MACD actually finally crossed

who zhe fugg would dump 1300 coins in such a moment ?

Bitcoin about to break out.

Central bank releases 'advice'.

Banking shill account on bitstamp dumps coins.

Price falls.

but...  but i am sure the EBA also has guidelines on committing no crime. but virtually all major european banks have been cought stealing, lying, defrauding, cheating in about every imaginable way. 

This is the first noise we have heard from a western central bank for some time. Suspicious timing. But turkeys don't vote for xmas. I think the effect will be very shortlived.

Good news isn't just a headline. It represents underlying events which are beneficial to the bitcoin ecosystem. And there has been lots recently.

I just hope perhaps wrongly that we are still early enough that the central banks aren't going to be screwing around with the bitcoin market a la gold market interventions.

[atoni]

Maybe this has something to do with dumping?

http://www.bloomberg.com/news/2014-07-04/eu-banks-must-shun-bitcoin-until-rules-in-place-eba-says.html

[ImI]

Maybe this has something to do with dumping?

http://www.bloomberg.com/news/2014-07-04/eu-banks-must-shun-bitcoin-until-rules-in-place-eba-says.html

imo its more about this

[T.Stuart]

I predict another week or so messing around in this range, no longer

[JorgeStolfi]

how is anybody gonna tell my BTC checking account at my local bank (has BTC under my name er that may be a clue)  (just a reg checking accnt so i can save 70 bucks a year in fees and not be a biz check accnt....thus can you add BTC under my name before my address above trick) ...have a visa biz card attached to such....use www.coinbase.com or whatever

I understand that  the aim of that regulation does not extend to that.  It only forbids banks (not their customers) from buying, selling, or investing in bitcoins.

That is something that the Central Bank of China (PBoC) had forbidden to Chinese banks already in December.  More recently The PBoC has been pressing banks to go one step further: close accounts of exchanges and accounts used for buying or selling bitcoins. But banks seems reluctant to follow through that completely (they would lose $$) and so they still offer some support.  The EU does not include this second phase, apparently.

[inca]

<snip>

The market has dropped by 15 dollars now. I don't think it gives much of a shit.