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

[ShroomsKit]

Today was the first day in a week where a big wall on OKCoin was bought in a few bites instead of causing downward pressure.
If this was not the bottom for now.. I'd be surprised.

I think there is too much TA talk of the importance of the 550/540$ breach. It takes only one big announcement to get this rocket going again.

But we need that announcement soon. If nothing happens we'll simply get a new round of dumping. We won't magically go up based on nothing.

[WillyBTC]

Today was the first day in a week where a big wall on OKCoin was bought in a few bites instead of causing downward pressure.
If this was not the bottom for now.. I'd be surprised.

I think there is too much TA talk of the importance of the 550/540$ breach. It takes only one big announcement to get this rocket going again.

Really? I feel like we are constantly getting really good news, and no rally ever to be found. Now Braintree looks to be a test bed for Paypal to start accepting bitcoin. Annnnnd bet you we're gonna drop.......

[ChartBuddy]

Explanation

[inca]

Today was the first day in a week where a big wall on OKCoin was bought in a few bites instead of causing downward pressure.
If this was not the bottom for now.. I'd be surprised.

I think there is too much TA talk of the importance of the 550/540$ breach. It takes only one big announcement to get this rocket going again.

Really? I feel like we are constantly getting really good news, and no rally ever to be found. Now Braintree looks to be a test bed for Paypal to start accepting bitcoin. Annnnnd bet you we're gonna drop.......

Patience is a virtue. Value is being built into the network. Nothing about bitcoin has changed for the worse. If adoption rises, so does the price, eventually!

[kurious]

SHOULD I BUY 1.5BTC right now for $845? (BTW im in the uk and the price is £338/btc)

Only if you aren't already AML/KYC'd at an exchange. That's a pretty hefty commission.

GO to this place if you're in the UK - it does take a commission, but as soon as your bank transfer hits - they send you BTC - usually it takes less than an hour - once you're registered.

http://www.speedybitcoin.co.uk

Currently £318 - I use them when I can't get fiat in fast - it is NOT the cheapest rate - but it is close enough (and better than you quoted).

Plus when you see a dip - it is a godsend.

EDIT: and when I say 'less than an hour' I mean from when you send your bank transfer!

[illyiller]

Today was the first day in a week where a big wall on OKCoin was bought in a few bites instead of causing downward pressure.
If this was not the bottom for now.. I'd be surprised.

I think there is too much TA talk of the importance of the 550/540$ breach. It takes only one big announcement to get this rocket going again.

Really? I feel like we are constantly getting really good news, and no rally ever to be found. Now Braintree looks to be a test bed for Paypal to start accepting bitcoin. Annnnnd bet you we're gonna drop.......

Patience is a virtue. Value is being built into the network. Nothing about bitcoin has changed for the worse. If adoption rises, so does the price, eventually!

Agreed, nothing has changed fundamentally. But I can understand the frustration, when you see nothing but good things happening, while simultaneously, the price just continues to drop and drop.....

[camu6]

Today was the first day in a week where a big wall on OKCoin was bought in a few bites instead of causing downward pressure.
If this was not the bottom for now.. I'd be surprised.

I think there is too much TA talk of the importance of the 550/540$ breach. It takes only one big announcement to get this rocket going again.

Really? I feel like we are constantly getting really good news, and no rally ever to be found. Now Braintree looks to be a test bed for Paypal to start accepting bitcoin. Annnnnd bet you we're gonna drop.......

Coinbase in talks with some ebay subsidiary is just not that big of a news. It is just not final enough to function as a viral news segment which attracts more users.

A year ago every bit of good and bad news made the price move. IMO that was only the case because Bitcoin's potential was not factored into the price. This changed with the run up to 1200$. Now Bitcoin has landed and is beeing adopted by so so many companies. A year ago it was all HACKERMONEY here DRUGMONEY there. Today you can allmost buy anything with it and it's backed by big tech savvy names.

Changetip on all the social media stuff. Big progress in bringing Wallstreet into the game. More & safer exchanges. BTC ATMs all over the world. Millions of $ / € / Yuan on the sidelines with a 1200$ peak in mind.


~ 500$ sounds like a good entry to me.

[Sandia]

Long term, the price will do great.  I don't have a solid number, but I believe 3k minimum in the next year or 18 months.  If you believe in manipulation (I certainly do), the manipulators must think there is a large profit to be made from buying cheap coins.  If you believe in fundamentals, btc is doing great, despite the fud.

Medium term, I expect 700 within 3-4 weeks.  Possibly 1 week.  Possibly in 2 days. This just based on watching btc price moves over time.

Short term, I don't care much.  Today or tomorrow, I want $400 to get my low ball bids filled.  I doubt it will happen though.  I want to maximize my holdings before the price jumps.  I have no doubt the price will rise quickly soon, so I want as many coins as I can possibly get.  Sentiment is that coins are ridiculously cheap.

I only ask one thing from the market: no more weeks of sideways.

[ibrahim11]

SHOULD I BUY 1.5BTC right now for $845? (BTW im in the uk and the price is £338/btc)

Only if you aren't already AML/KYC'd at an exchange. That's a pretty hefty commission.

GO to this place if you're in the UK - it does take a commission, but as soon as your bank transfer hits - they send you BTC - usually it takes less than an hour - once you're registered.

http://www.speedybitcoin.co.uk

Currently £318 - I use them when I can't get fiat in fast - it is NOT the cheapest rate - but it is close enough (and better than you quoted).

Plus when you see a dip - it is a godsend.

EDIT: and when I say 'less than an hour' I mean from when you send your bank transfer!

I need an invitation code

[JorgeStolfi]

A year ago every bit of good and bad news made the price move. IMO that was only the case because Bitcoin's potential was not factored into the price. This changed with the run up to 1200$.

My reading is rather that the "Western" marked defined the price a year ago, but then China took over, so that now the only news that move the market are news that affect the Chinese traders.   

Adoption by western businesses is irrelevant to the Chinese.  (Not to mention that it is BAD news, since it should mainly encourage old holders to sell their coins, through Bitpay/Coinbase, whereas non-bitcoiners should not be impressed by it.)

I have no doubt that the rise from ~130$ to ~1200$ was entirely due to the opening of the Chinese market.  And the Chinese may have been responsible also for the rise from ~15$ to ~130$ in early 2013, that coincided with the hiring of Bobby Lee by BTC-China...

[Tzupy]

China is dumping again, and Bistamp follows.

[camu6]

China is dumping again, and Bistamp follows.

It looks like there is alot resistance. Might be the last attempt to test the downward direction

[oda.krell]

Adam, how about a poll like:

Above $500

or

Below $500

at the end of the day?

[ChartBuddy]

Explanation

[zwickl]

Adam, how about a poll like:

Above $500

or

Below $500

at the end of the day?

I hope below 500$, because then I'm gonna buy more

[fonsie]

Well the sellers can keep selling. Someone is buying each and everyone.

EBay upcoming integration suggests bitcoin is becoming the darling of internet corporations. It's merchant adoption rate is incredible this year, especially considering the negative price action.

Don't be shaken out of your holdings. If bitcoin was a buy at 650 it is a great buy at 515!

Exactly.
These people are complete idiots. You'd have to be very ignorant to think Bitcoin will just stop. That it will just go away. So many companies are getting in.
But short term greed makes people just stupid.

So you're saying that you are stupid, because accoring to you bitcoin was done/dead.

[fonsie]

It's amazing how delusional they are. They talk about the next bubble as if it's guaranteed to come. It simply isn't. We've been going down for 9 months. Now we're simply at the point the smart people understand there simplu won't be another bubble anymore. They're pulling out. We will go down very fast coming few weeks.

It's over. I'm already investing in other and better things.

How are those "cheap coins" at 560 doing for you guys?

[ShroomsKit]

Fucking sheep. These dumpers right now are such idiots.

[fonsie]

Fucking sheep. These dumpers right now are such idiots.

Could you please reply to my previous posts, if not you are basically admitting to being a gay baby troll living at home with his sheep mummy.

[thefunkybits]

It looks to me like dumps are getting weaker, and the walls on stamp are growing as we go lower...

We'll have to see if 500 holds everywhere though