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

[Davyd05]

I hope it goes to 470 to give a gleaning point.

490 usd is my avg buy in.. 470 means I have to exhaust fiat cannons. However I can't see that happening.. it would be a really organized manipulation at this point.. the market seems really stuck in this band.

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[JayJuanGee]

Looking good. I mean, for those people who are wanting to buy.

Yeah, looking like it.

100% retrace and then some on that pump. I guess it was just a short squeeze after all. Damn..... life of a bagholder.

What kind of a bag holder are you?  Hopefully BTC!!!  Much better to be in BTC than in fiat... just need a little patients.. could be one day or could be six months.  Yet, in the end, it is going to be better to be a "bag holder," so long the bag that your holding contains BTC rather than fiat.

[JayJuanGee]

Minor technicality:  I would NOT call 3,600 BTC daily as almost 4k BTC daily. 

I am inclined to think that the overwhelming majority of mined coins move exactly once, at this point.  I should check.  If I am right it is indicative of price suppression on the exchanges to get good marks for buying virgin coin on contract.  Which in turn is indicative of a massive bubble imminent.  But I haven't checked yet.

hey, cool! that would indeed be a good indication of the hypothesis (miners sell directly) being correct!

do you have the means to check this? If so I would like to kindly ask you to do so.

+1... I would like to second that and to "kindly ask" you to check into the matter.... and report back to us...     

[ChartBuddy]

Explanation

[BowieMan]

I hope it goes to 470 to give a gleaning point.

As much as I'd hate to see Bitcoin go to the $400s again, I also think that this would we a much needed fresh start, to be honest... Although I'd much rather see a nice breakout from where we are now, to up north!

[JayJuanGee]

I hope it goes to 470 to give a gleaning point.

As much as I'd hate to see Bitcoin go to the $400s again, I also think that this would we a much needed fresh start, to be honest... Although I'd much rather see a nice breakout from where we are now, to up north!

Maybe we are stuck in this upper $500s to lower $600s for a reason  - and that is that there is just NOT enough people willing to sell into the lower $500s anymore... and in that regard, it just does NOT seem too likely that BTC prices are going into the lower $500s anymore absent some pretty big time negative news.

I mean, I do NOT even know where Risto is getting this $470 from .. or even imaginging that $470 is possible... Maybe he is just saying $470 to troll us - b/c he really does NOT believe $470 is in the realm of real probabilities?

[Wandererfromthenorth]

I hope it goes to 470 to give a gleaning point.

As much as I'd hate to see Bitcoin go to the $400s again, I also think that this would we a much needed fresh start, to be honest... Although I'd much rather see a nice breakout from where we are now, to up north!

Maybe we are stuck in this upper $500s to lower $600s for a reason  - and that is that there is just NOT enough people willing to sell into the lower $500s anymore... and in that regard, it just does NOT seem too likely that BTC prices are going into the lower $500s anymore absent some pretty big time negative news.

I mean, I do NOT even know where Risto is getting this $470 from .. or even imaginging that $470 is possible... Maybe he is just saying $470 to troll us - b/c he really does NOT believe $470 is in the realm of real probabilities?

Look at my pic. If we fail to breakout next week a fall into the 460-470 is possible. Not right away (it will bounce here and there at various support points), but in a few weeks time probably will.
If we fail to breakout next week that is.


Fundamentals: recent news were good (Dell, etc), but I'm afraid the Bitlicense might have scared a lot of people.
Also, the volume during the june rebound was generally low and it was all kinda weak.
Next week we'll see.

[tarmi]

I hope it goes to 470 to give a gleaning point.

As much as I'd hate to see Bitcoin go to the $400s again, I also think that this would we a much needed fresh start, to be honest... Although I'd much rather see a nice breakout from where we are now, to up north!

Maybe we are stuck in this upper $500s to lower $600s for a reason  - and that is that there is just NOT enough people willing to sell into the lower $500s anymore... and in that regard, it just does NOT seem too likely that BTC prices are going into the lower $500s anymore absent some pretty big time negative news.

I mean, I do NOT even know where Risto is getting this $470 from .. or even imaginging that $470 is possible... Maybe he is just saying $470 to troll us - b/c he really does NOT believe $470 is in the realm of real probabilities?

big miners sell no matter what.

they will sell it for 300 if needed to cover the electricity.

[JorgeStolfi]

I mean, I do NOT even know where Risto is getting this $470 from .. or even imaginging that $470 is possible...

If anyone would explain why it went up from 450$ to 650$ between May/20 and Jun/06, then we could begin to discuss what could cause it to drop back again.  Or whether it is possible that it will do what it already did on Apr/11.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[oda.krell]

I mean, I do NOT even know where Risto is getting this $470 from .. or even imaginging that $470 is possible...

If anyone would explain why it went up from 450$ to 650$ between May/20 and Jun/06, then we could begin to discuss what could cause it to drop back again.  Or whether it is possible that it will do what it already did on Apr/11.

Still not happy with the 'built up buying pressure from earlier sell-offs plus confidence from phase of relative stability plus naked eye evidence of buying support for mid-400 prices' explanation, huh?

[JorgeStolfi]

Still not happy with the 'built up buying pressure from earlier sell-offs plus confidence from phase of relative stability plus naked eye evidence of buying support for mid-400 prices' explanation, huh?

You mean an 'it is raining because drops of water are falling from the sky' kind of explanation?

[akujin]

I wanna see the ~300's again 

[oda.krell]

Still not happy with the 'built up buying pressure from earlier sell-offs plus confidence from phase of relative stability plus naked eye evidence of buying support for mid-400 prices' explanation, huh?

You mean an 'it is raining because drops of water are falling from the sky' kind of explanation?

Almost, prof. More like 'market price being a function of human cognitive process output, so it's futile to look for more "objective" causes'.

[Equate]

I wanna see the ~300's again 

Chances of that are very less , we haven't even seen under $400 for last few months

[akujin]

I wanna see the ~300's again 

Chances of that are very less , we haven't even seen under $400 for last few months

Why not. 2015 is still months away.. 

[anujjain]

I wanna see the ~300's again 

lol, you want price will reduce to 50%, do you know the effect of 50% down.

[akujin]

[inca]

Price is fairly stable. Bears come out and try to talk people into selling by predicting a fall down to 3xx and 4xx. Hrmph.