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

[samsonn25]

Looks like price needs to come down under $610 before it goes to 700

Uh why?

For me it was 620ish...mainly to do with the ebb flow of the market. It would appear that people are trying to accumulate more so than dump.

I think we'll see weekend buyers from those who want to beat the trend now that 620 ish has held well enough. However I've been bull sided as of late.

Because the EMA is $614, price rarely hits EMA exactly, it usually overshoots, somewhat either slightly or drastically best case scenario is slightly. 

The Dark candlesticks is not confiding either.

[CoinsCoinsEverywhere]

IMO, if we don't test support tonight we never will, we'll bounce off the launch pad once or twice, break resistance, break away to new highs, top out in the low mid 700's, this level should prove to have very little resistance ( most bears think 680-660 is the "top" so they are selling here and now ) price will quiclky melt up into the low mid 800's the next spot where bears lay down some futile resistance.

I'm curious--what basis are you using for your prediction?  Strictly technical?  There seems to be an awful lot of supply above 660, and no one seems to want to buy up there.  If we can break 700, I think we go much higher after that, but getting there in the near future looks challenging.

[dropt]

What about miners paying power bills?

If someone could be so kind as to find out what KnC and Bitfury/MBP/CEX/GHASH.IO are doing with their mined coins, I'd love to know.  And by find I out, I mean actually find out, not this OTC sales wishy washy bullshit I keep hearing.

Look at it this way. A miner is a person with investment in mining equipment and expenses. When he has mined some coin, he is a holder of coin plus he has investments and expenses. Other holders, without mining investments have other investments and expenses. What is the difference? None.
Everybody hold coins, have investments and expenses, and have to decide to sell or to buy, taking other economic realities into account.

tldr; a miner with coins is no different from other people.

I disagree.  The independent miner is more likely to either hold all of their mined coins and pay expenses out of pocket, or sell what's required to pay the bills.  Franchised, or corporate miners, have no interest in holding coins and sell as earned.  Outfits like KnC didn't make a multi-million dollar mine to hold/save coins, they sell them all (afaik).

[CoinsCoinsEverywhere]

What about miners paying power bills?

If someone could be so kind as to find out what KnC and Bitfury/MBP/CEX/GHASH.IO are doing with their mined coins, I'd love to know.  And by find I out, I mean actually find out, not this OTC sales wishy washy bullshit I keep hearing.

Look at it this way. A miner is a person with investment in mining equipment and expenses. When he has mined some coin, he is a holder of coin plus he has investments and expenses. Other holders, without mining investments have other investments and expenses. What is the difference? None.
Everybody hold coins, have investments and expenses, and have to decide to sell or to buy, taking other economic realities into account.

tldr; a miner with coins is no different from other people.

While I agree that everyone has their own set of risks, I think there are psychological differences.  I don't worry about the coins I've mined as much as I would worry about coins that I would have bought, if I had bought some (which I haven't, because it feels riskier).

[dropt]

IMO, if we don't test support tonight we never will, we'll bounce off the launch pad once or twice, break resistance, break away to new highs, top out in the low mid 700's, this level should prove to have very little resistance ( most bears think 680-660 is the "top" so they are selling here and now ) price will quiclky melt up into the low mid 800's the next spot where bears lay down some futile resistance.

I'm curious--what basis are you using for your prediction?  Strictly technical?  There seems to be an awful lot of supply above 660, and no one seems to want to buy up there.  If we can break 700, I think we go much higher after that, but getting there in the near future looks challenging.

700 is no different than 600.  It's going to be the same uphill battle.

[ChartBuddy]

Explanation

[BTCfan1]

wow down we go

[SirChiko]

wow down we go

I doubt we will go under 600$ if so then was this just almost week pump and dump?

[keithers]

wow down we go

I don't see us really falling too low...there isn't really any reason for a sell of right now.   The auction results actually turned out to be strong since the winner is using it for liquidity for his business.   He didn't mention an intention of any of them seeing the open market any time soon...

[freedomno1]

wow down we go

I don't see us really falling too low...there isn't really any reason for a sell of right now.   The auction results actually turned out to be strong since the winner is using it for liquidity for his business.   He didn't mention an intention of any of them seeing the open market any time soon...

There are a lot of eyes on that bitcoin address so no need to worry about it unless it moves to a known exchange
I think he needed the capital for releasing atms in the USA though

[Parazyd]

Good morning. I woke up from a dream that we went to $100. Phew, good to see we're still going good.

[ChartBuddy]

Explanation

[CoinsCoinsEverywhere]

wow down we go

I don't see us really falling too low...there isn't really any reason for a sell of right now.   The auction results actually turned out to be strong since the winner is using it for liquidity for his business.   He didn't mention an intention of any of them seeing the open market any time soon...

This probably isn't a huge deal, but it could be factor for the drop:

http://www.coindesk.com/eba-financial-institutions-avoid-bitcoin-pending-regulation/

[Searing]

wow down we go

I don't see us really falling too low...there isn't really any reason for a sell of right now.   The auction results actually turned out to be strong since the winner is using it for liquidity for his business.   He didn't mention an intention of any of them seeing the open market any time soon...

There are a lot of eyes on that bitcoin address so no need to worry about it unless it moves to a known exchange
I think he needed the capital for releasing atms in the USA though

heh good thing it is not me who won the auction i'd move it around to vanity addresses named stuff wtf screw this in comments

"so she divorced me huh wants 1/2 my btc huh...i'll show the 'bit*ch* and drive btc into the teens"

boy the fun a person could have just moving the coin around from address to arddress and using comments

Searing

(bruahahaha 'evil laugh #3')

[keithers]

Good morning. I woke up from a dream that we went to $100. Phew, good to see we're still going good.

No way you are really dreaming about btc?  Too much crypto for you

[BTCfan1]

wow down we go

I don't see us really falling too low...there isn't really any reason for a sell of right now.   The auction results actually turned out to be strong since the winner is using it for liquidity for his business.   He didn't mention an intention of any of them seeing the open market any time soon...

This probably isn't a huge deal, but it could be factor for the drop:

http://www.coindesk.com/eba-financial-institutions-avoid-bitcoin-pending-regulation/

yeah the eba thing is creating a lot of FUD im noticing, but that usually comes before a rally at least that's how it's been (i.e. china bans, ghash, auction) MOON baby....

[indiemax]

Risk phamplet from UA.  Note last one:

E31  Should VC's gain widespread acceptance, central bank as issuer of FC can no longer steer the economy, as the impact of its monetary measures become difficult to predict.

I think that quote says it all, they are scared shitless

Expect any disruption possible or draconian legislation in the swap from a banking system that doesn't work to one that can

[RoadStress]

What about miners paying power bills?

If someone could be so kind as to find out what KnC and Bitfury/MBP/CEX/GHASH.IO are doing with their mined coins, I'd love to know.  And by find I out, I mean actually find out, not this OTC sales wishy washy bullshit I keep hearing.

KnC stated that they sell all the mined coins.

As for Bitfury I don't know, but they just got a 20M$ investment so I'm thinking that they don't need to exchange mined coins to pay for power+expanding for a while.

[ChartBuddy]

Explanation

[rpietila]

700 is no different than 600.  It's going to be the same uphill battle.

It will last the time it lasts. When it is over, it is over. And then the fun begins.

Don't sell now. But especially don't sell between 800->3000: that is a complete waste of money in a situation where there is no way except going up several times in a matter of weeks.