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

[ChartBuddy]

Explanation

[dreamspark]

Anyone struggling to get onto Poloniex..?

They've been doing a domain name transfer and the dns is now propagating.

https://twitter.com/Poloniex

[kurious]

Anyone struggling to get onto Poloniex..?

They've been doing a domain name transfer and the dns is now propagating.

https://twitter.com/Poloniex

Thanks! 

[Asrael999]

Re the buying on Gox and selling in China - and the subsequent dump
It is highly likely that this was driven by a significant Chinese buyer in collusion with western based confederates seeking to remove their funds from China to evade the corruption probes that are ongoing within the Chinese state.
Someone or a group of someones wished to move USD millions from China into the West quickly (to evade confiscation) using methods that the PBOC were unable to trace. Acting in concert with a small group of westerners , who work orders for their client - buying bitcoin in the west and selling them in China to the client. This causes the initial increase in demand for coins (several 100,000 BTC) - call it $40-100mm CNY equivalent at prices below $500-$600.
(The westerners probably did this in exchange for a percentage cut of the USD amount successfully moved from China.)
This initial spike primes the bubble and unleashes the horde who then run the price up into the 1,000's, during which time the initial buyer(s) dump their coins via stamp , gox and other Western Exchanges, and continue to do so past the bubble (and possibly still continue to do), driving the price down until the initial investor is fully out of Bitcoin and into USD that the PBOC cannot trace.

Such an exercise would also explain the Chinese response to bitcoin and the Chinese authorities attempts to prevent fiat flows into BTC since the November/December bubble.

[kurious]

Re the buying on Gox and selling in China - and the subsequent dump
It is highly likely that this was driven by a significant Chinese buyer in collusion with western based confederates seeking to remove their funds from China to evade the corruption probes that are ongoing within the Chinese state.
Someone or a group of someones wished to move USD millions from China into the West quickly (to evade confiscation) using methods that the PBOC were unable to trace. Acting in concert with a small group of westerners , who work orders for their client - buying bitcoin in the west and selling them in China to the client. This causes the initial increase in demand for coins (several 100,000 BTC) - call it $40-100mm CNY equivalent at prices below $500-$600.
(The westerners probably did this in exchange for a percentage cut of the USD amount successfully moved from China.)
This initial spike primes the bubble and unleashes the horde who then run the price up into the 1,000's, during which time the initial buyer(s) dump their coins via stamp , gox and other Western Exchanges, and continue to do so past the bubble (and possibly still continue to do), driving the price down until the initial investor is fully out of Bitcoin and into USD that the PBOC cannot trace.

Such an exercise would also explain the Chinese response to bitcoin and the Chinese authorities attempts to prevent fiat flows into BTC since the November/December bubble.

+1  Makes a lot of sense.

[blatchcorn]

Re the buying on Gox and selling in China - and the subsequent dump
It is highly likely that this was driven by a significant Chinese buyer in collusion with western based confederates seeking to remove their funds from China to evade the corruption probes that are ongoing within the Chinese state.
Someone or a group of someones wished to move USD millions from China into the West quickly (to evade confiscation) using methods that the PBOC were unable to trace. Acting in concert with a small group of westerners , who work orders for their client - buying bitcoin in the west and selling them in China to the client. This causes the initial increase in demand for coins (several 100,000 BTC) - call it $40-100mm CNY equivalent at prices below $500-$600.
(The westerners probably did this in exchange for a percentage cut of the USD amount successfully moved from China.)
This initial spike primes the bubble and unleashes the horde who then run the price up into the 1,000's, during which time the initial buyer(s) dump their coins via stamp , gox and other Western Exchanges, and continue to do so past the bubble (and possibly still continue to do), driving the price down until the initial investor is fully out of Bitcoin and into USD that the PBOC cannot trace.

Such an exercise would also explain the Chinese response to bitcoin and the Chinese authorities attempts to prevent fiat flows into BTC since the November/December bubble.

+1  Makes a lot of sense.

I am not convinced. I am as much as a bull as Bitchick, but it seems like we are constantly making excuses for Bitcoin's price.

I am starting to question just how much future expectations were already priced into the last bubble.  It could be that huge merchant adoption and Winkdex are already reflected in a $600 bitcoin

[zby]

So what do you guys think about the fact that the wall at 575 disappeared?

Someone finished selling his stash and does not need price support any more?

[ChartBuddy]

Explanation

[johnwest]

So what do you guys think about the fact that the wall at 575 disappeared?

Someone finished selling his stash and does not need price support any more?

May be it's true, now we will going down, it was purposefully putted there.

[spooderman]

Yay moar dumps.

How could anyone ever possibly sell one of these sacred coins?

[dreamspark]

So what do you guys think about the fact that the wall at 575 disappeared?

Someone finished selling his stash and does not need price support any more?

May be it's true, now we will going down, it was purposefully putted there.

I think we're going down for sure, how far ? Who knows. Where were are the significant points of resistance ?

[Pump3r]

But, but....they told me here, that this bounce will go to the moon!

[MoreFun]

But, but....they told me here, that this bounce will go to the moon!

They told you wrong!

[jeezy]

Next dump inc. Let's go to 555! 

[falllling]

But, but....they told me here, that this bounce will go to the moon!

don't listen to liars, you should listen to me, cut lose or nothing

[ubercool]

Next dump inc. Let's go to 555! 

It will be go around 540, now we have supports around 540 level, let's wait to see we will survive that support or not.

[Pump3r]

But, but....they told me here, that this bounce will go to the moon!

don't listen to liars, you should listen to me, cut lose or nothing

I never attach value to them, ....but nevertheless they told me so! ;-)

[hmmmstrange]

Placing bids now. Is $350 too greedy or should i stick with the trusty $420?

[bitgeek]

Placing bids now. Is $350 too greedy or should i stick with the trusty $420?

Go ahead, it won't go below $500 anyway. The only thing that could push it lower would be a major event e.g. another Gox.

[gizmoh]

Placing bids now. Is $350 too greedy or should i stick with the trusty $420?

Lets cut it in half, 380