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

[Yololintian]

Big new orders between 450$ and 470$ on finex. 

That's amazing. The book looks 10 times better. Huobi's is looking better too. This is quite bullish.

[_javi_]

http://www.reuters.com/article/2014/08/14/us-bitcoin-ebay-idUSKBN0GE2D420140814

"Ebay in talks to take bitcoins at payments unit "

bullish??

nah, keep dumping, you foools 

[Richy_T]

Hence, this strikes me as a trap. I might also be saying that, though, because I fell for the last trap. I am starting to realize that I am out of my depth playing a card game with a guy outside a shop in New York.

As long as the guy is not the naked cowboy and the game is not strip poker.

[fred1111]

The recent bearishness is completely irrational, when looking at BTC acceptance by merchants, BTC startups, and also as a brand. Sure, it might not be worth 10 000. But falling back to 200. I don't think so.

[aminorex]

If Amazon can find a way to use BTC to gut Paypal, it'll happen.

This is quotable.  Succinct, penetrating.  Now to invent the way.

[aminorex]

Daily, monkey remains bearish but sees the turn coming.  Intraday he says it goes up until NYSE closes.

Personally, I think the bitfinex long squeeze has washed out, and consider 450 the bottom -- it's all choo-choo from here on out (meaning above 450 from now until the manic peak). 
Albeit a slow, boring choo-choo for a while.

[iram3130]

I think we will have boring weekend again this time too.
So much happened this week so better we take rest and start new week with fresh move.

[lightfoot]

I'm reminded of "Prosperity is just around the Corner"
"Which corner"?

:-)
C

[joburgtaxi]

Daily, monkey remains bearish but sees the turn coming.  Intraday he says it goes up until NYSE closes.

Personally, I think the bitfinex long squeeze has washed out, and consider 450 the bottom -- it's all choo-choo from here on out (meaning above 450 from now until the manic peak). 
Albeit a slow, boring choo-choo for a while.

What happened to monkey SCREAMING yesterday to "buy buy buy" ?

[aminorex]

Daily, monkey remains bearish but sees the turn coming.  Intraday he says it goes up until NYSE closes.

Personally, I think the bitfinex long squeeze has washed out, and consider 450 the bottom -- it's all choo-choo from here on out (meaning above 450 from now until the manic peak).  
Albeit a slow, boring choo-choo for a while.

What happened to monkey SCREAMING yesterday to "buy buy buy" ?

monkey constantly changes his mind.  that was a very strong intraday buy signal from the monkey, but every time a new data point comes in, he is re-evaluating.   Here's my reading:  When he saw the downtrend end, he thought it would rebound sharply, but instead it went sideways, so he reset his internal model to "now we are sideways".  he expected a V-bottom, but he was wrong.  We got a flat bottom.  

he hasn't changed his overall daily bearish view, held since we broke down below 577 on the 11th.  but now he is starting to expect a turn confirmation on a daily basis to come soon.  That's a vague-ish "soon" meaning 0 to 5 days.

He's actually short on a weekly basis now (not just bearish, but short), for the first time since september 2011, expecting at least 6 weeks of downtrend before a reversal, but he won't be shy to change his mind if the downtrend fails.

He estimates 6 to 18 months before a manic top.

[Wandererfromthenorth]

Talking about gambling addiction. I´m leveraged long LTC/BTC + BTC/USD 

I seriously suggest you put really tight stops...

[Teppino]

We are going sideway under the critical price of 528 (bfx) that triggered yesterday margin calls. I was somehow expecting as an outcome a bigger crash in terms of volume and way less longs left open. Obviously bfx modulated the crash but i'm wondering if they can now sustain trading in this "artificial" range because it looks to me that just going sideway from now should trigger calls every day.

[Schickeria]

He estimates 6 to 18 months before a manic top.

Oh, Monkey is even more careful than my Maya doomster. He says 6 - 12 and he's a real merchant of doom.

[boumalo]

Big new orders between 450$ and 470$ on finex.  

looks like some long squeeze fatalities want their coins back at a similar price to the sell.

about 13k btc in longs have been closed/liquidated last couple of days so Finex has a major mountain of fiat rocket fuel.

Interesting times ahead.

You would think this fiat is going to the market again + new adopters + less selling in the end of 2014 or early 2015, the anticipation of the next mining reward halve will also push the price up

Before that, we may be heading to 400s again

[JorgeStolfi]

China is indeed a big factor nowadays. But if  China played that big of a role, just wait until other parts of tech savvy asia start a bitcoin bullrun

You mean Japan, where MtGOX so eloquently demonstrated the Power of Bitcoin? 

The rest of Asia had known bitcoin for years.  Why haven't they bought like the Chinese?

Perhaps because they are more tech savy? The few articles who bothered to look for Chinese BTC investors cleimed that they were mostly amateur commodiites speculators. Perhaps in other Asian countries Bitcoin is banned, or people have better options for investment and speculation?

(BTW, someone told me that Singapore had a big role in bitcoin's price history.  Does anyone konw what he may have been alluding to?)

[kireinaha]

Don't tell me you guys forgot that Friday is dump day.

[oda.krell]

monkey constantly changes his mind.  that was a very strong intraday buy signal from the monkey, but every time a new data point comes in, he is re-evaluating.   Here's my reading:  When he saw the downtrend end, he thought it would rebound sharply, but instead it went sideways, so he reset his internal model to "now we are sideways".  he expected a V-bottom, but he was wrong.  We got a flat bottom.  

he hasn't changed his overall daily bearish view, held since we broke down below 577 on the 11th.  but now he is starting to expect a turn confirmation on a daily basis to come soon.  That's a vague-ish "soon" meaning 0 to 5 days.

He's actually short on a weekly basis now (not just bearish, but short), for the first time since september 2011, expecting at least 6 weeks of downtrend before a reversal, but he won't be shy to change his mind if the downtrend fails.

He estimates 6 to 18 months before a manic top.

So, you're now trading on your "monkey's" advice?

Or is he chained up in the basement, while the hodler long-term cryptoptimist in you rejects selling even a single coin?

[ChartBuddy]

Explanation

[adamstgBit]

omg omg omg its CRASSHGING!

[ShroomsKit]

Ok this is getting really stupid. And annoying.