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

[Alley]

Could the price increase be because of the jump in difficulty yesterday?

[grappa_barricata]

[molecular]

Could the price increase be because of the jump in difficulty yesterday?

there's so many things contributing to the price of a bitcoin on these markets we look at. The most influencial ones are the internal dynamics of that market itself, at least in the short term.

[bassclef]

Just remember kids: sharp bounces don't necessarily mean a true reversal.

Just look at what happened in April - a sharp bounce from bottom off  339 all the way to 554 on about 4X the volume of this recent bounce.  Everybody cheered "Hooray!  Look at that volume! Downtrend is over, bottom is in, only up from here!"  Then look what happened over the next 2 weeks after the rally... slow fall from 554 down to 420's.  Where it stayed for a month.

So yeah.  I predict that within 10 days (by 9/1) you'll have your answer whether this rally was sustainable or not.

who cares? up! ccmf!

What he's not taking into account is that we're coming to the end of a long continuation pattern that started when $1100 fell in November, so volume is expected to dry up as the price bounces off an ever-decreasing price ceiling. That means if we break above $570 it will be a more important breakout psychologically than the one in April, giving us an almost textbook bullish pennant, breaking out 3/4 of the way through.

[ImI]

Its called market wisdom. Markets dont wait to price something in until the very last trader has understood whats going on. They start way ahead of the actual news...

So then, it's plausible that our dumper friend is inside to these ETF's and has learned that they'll (Wink) not be approved?

Haha! Nice interpretation. 

I expect Winklevoss to come out with some sort of announcement at Nov/Dez. I remember to have read some interview with some Wallstreetguy who said that he expect results about the ETF in 2014.
Markets usually start to price in news way before the event itself. So that would lead to sep/oct/nov as some nice pre-movement.

[ImI]

Could the price increase be because of the jump in difficulty yesterday?

no

[Torque]

Just remember kids: sharp bounces don't necessarily mean a true reversal.

Just look at what happened in April - a sharp bounce from bottom off  339 all the way to 554 on about 4X the volume of this recent bounce.  Everybody cheered "Hooray!  Look at that volume! Downtrend is over, bottom is in, only up from here!"  Then look what happened over the next 2 weeks after the rally... slow fall from 554 down to 420's.  Where it stayed for a month.

So yeah.  I predict that within 10 days (by 9/1) you'll have your answer whether this rally was sustainable or not.

who cares? up! ccmf!

Only people that care are existing long term bulls looking to buy more, and not fall for any traps.  

(But I'll always be ready for CCMF!!!)

[Riddikulo]

Come on, hold!!

[grappa_barricata]

Another big move inbound. Guess in which direction. Hint: it will be the most painful one.

[hyphymikey]

People wanting cheaper coins and we had some profit takers at this "false top"... Ready for the next leg up?

[empowering]

Another big move inbound. Guess in which direction. Hint: it will be the most painful one.

a kick in the nuts ?

[Yololintian]

2600 ask depth to 590 on bitfinex. Shorts better hope there are some nice hidden ask walls...

[amit123]

520$ looks good for the day..! lets see where it will be when I'll wake up tomorrow . expecting just + -15$

[grappa_barricata]

520$ looks good for the day..! lets see where it will be when I'll wake up tomorrow . expecting just + -15$

Only in bitcoin markets that is a conservative estimate!

[hyphymikey]

Where is shroomie? I'm surprised he isn't on here cussing out all the idiot traders that are selling as we move up.

[klee]

[Post-Cosmic]

 ..BJA is back. Nice ;o  Guess all the ruckus caused by volume/price volatility lately woke up the sleepers ;p

 Whoever shorted this is delusional. You don't short bitcoin, unless it's in an absolute pure gold overbought parabolic-spike entry. In fact you basically don't short anything in general, not when it's screaming downward to abyssal Pacific crevice depths like that BTC-e $309 cascade. Of course you also don't long when it's panic-rising meteorically a bit like it is now. You actually have to be careful shorting problematic-future-at-best shtcoins like DRK & LTC. Imagine with BTC o.O

 Didn't expect $520+, this soon. Guess market really wanted to revert back as close to that $560 median as soon as possible. You know, the one you get when you average the early-May prices of ~$445 with the ~$680 recent highs of early-June  That tells us $550-565 is solid target.

 Damn. w/ 10x leverage on BTC.SX someone could make 14-18% (from low 400's to current prices) x 10, minus that ginormous spread they have there, that's 140-180% in under 48hrs. O.O  Actually competes with the highest-volume twitter-manipulated 800BTC altcoin pumps' worth of %.

 As for LTC, w/ 3.33x leverage on BFX someone could've made ~240% in under 48hrs, from $3.3 to $5.7 per litecoin.

 What.

[bigasic]

I think we will see some profit takers and we will see just above 500 and then it should slowly go up with its usual peaks and valleys, but I smell an upward trend after this little profit taking..

[grappa_barricata]

"As the 'trend' become evident, endorphin leave place to less pleasant chemicals, stress build up in the groin area and the sweat take on the smell of fear. It is only at that point that the individual surrender, not for the money, but for the pain."

[Richard Branson]

And w leverage you can easily lose all.
Don't get greedier than wallstreet. But most trader (even btc) are greedy.