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

[POM]

How the hell am I supposed to get any sleep tonight?

This, my entertainment for the night

[adamstgBit]

Cheap coins in front of you guys... but I don't see anyone rushing to buy it all  
So who's gonna push this up to 10k?  

[blade87]

Cheap coins in front of you guys... but I don't see anyone rushing to buy it all  
So who's gonna push this up to 10k?  

India, then Africa, then Antarctica. Duh.

[billyjoeallen]

that wall belongs to FEDs.

Guys i think this makes sense, because BitStamp wouldnt dare to take FEDs coins right? I mean whos stupid enough to leave that many coins on a foreign exchange ?

And don't forget to sell on Sunday to ensure the lowest possible price!  Yes, yes, you can collect overtime for working Sunday.

There's no way this price level holds when the banks open tomorrow. If it does, I start hitting all the pawn shops and loan sharks I know. Can't imagine I'll be the only one doing it, either.

[vuduchyld]

Cheap coins in front of you guys... but I don't see anyone rushing to buy it all  
So who's gonna push this up to 10k?  

Hell, 1300 or so bought in a minute about ten minutes back

[JayJuanGee]

How the hell am I supposed to get any sleep tonight?

This, my entertainment for the night

What kinds of odds are posters placing on the price movement - either after the wall is pulled or after the wall is eaten?  

It seems most posters seem inclined to believe the price will be bullish, and for the reasons of my earlier post, I am inclined to believe it is bearish (b/c the fiat is going to be exhausted by the quantity of coins being purchased at this $300 price point - and NO current ability to add fiat to Stamp).  

[akujin]

Cheap coins in front of you guys... but I don't see anyone rushing to buy it all  
So who's gonna push this up to 10k?  

India, then Africa, then Antarctica. Duh.

DUH! Call them now! Cheap coins @300 

[black_jesus]

We welcome change and openness; for we believe that freedom and security go together, that the advance of human liberty can only strengthen the cause of world peace. There is one sign that we can make that would be unmistakable, that would advance dramatically the cause of freedom and peace. Believers in this radically new form of currency, if you seek peace, if you seek prosperity for the world, if you seek liberalization, come here to Bitstamp. Wire in your fiat and TEAR DOWN THIS WALL!

[derpinheimer]

Cheap coins in front of you guys... but I don't see anyone rushing to buy it all  
So who's gonna push this up to 10k?  

Hell, 1300 or so bought in a minute about ten minutes back

In total we are nearing 15k-20k bought I think. (Well, about 7k to market sells, and the rest to people nibbling on the wall)

[FloridaBear]

420 is an interesting spot. That was the low on 5/5, which was about a 62% retrace of the first push up off the 339 low on 4/10 up to 683. So we are retesting that here.

It was very telling that we couldn't put in a new high above 683 in July; instead we trended sideways until we broke the second pullback's low of 538. Bottom line, if we break 420, then I think we are heading to retest 340. I'm thinking the most likely scenario is to grind down to 260, which was the April 2013 high. A nice capitulation there would set the stage for a new (real) bull market--the last runup to 1100+ was solely driven by the Mt. Gox "hacker" bot debacle (very intersting articles floating around on this).

Another aspect of this decline is that while it has been fairly big today, there just isn't much volume. That's not a sign of a good bottom. We probably need a 50000+ volume day to see capitulation. If fear starts ramping up, we may see 340 in a couple high-volume days. If not, we may bounce here for a few weeks and then head lower. But this doesn't feel like a low yet.

Just FYI, I've traded S&P futures for years and have watched that market daily for 15+ years.

As an update, we did have some pretty good volume @ 275, which may be close enough to the 260 I was calling for (using a fat pencil). This sell wall is pretty interesting, so we'll have to see how that plays out. I think it's actually bullish--you WANT to see big selling at bottoms.

I am also watching a UTL on the log chart that goes all the way back to November 2011 where BTC was $2. This UTL currently sits at about $200. This is important IMO, and if broken, I won't be bullish.

Interesting times!

[Wolf Rainer]

That´s a fucking big wall. 18000 BTC $5,400,000 USD. WOW! Someone it´s hurry to sell all his bitcoins or to manipulate hard the market to dump the price a lot.

[akujin]

Cheap coins in front of you guys... but I don't see anyone rushing to buy it all  
So who's gonna push this up to 10k?  

Hell, 1300 or so bought in a minute about ten minutes back

1.3k isn't that much  

[adamstgBit]

this is so entertaining!

[adamstgBit]

17.94k

[blade87]

this is so entertaining!

Whoever thought something as simple as straight line could be?

[boumalo]

that wall belongs to FEDs.

Guys i think this makes sense, because BitStamp wouldnt dare to take FEDs coins right? I mean whos stupid enough to leave that many coins on a foreign exchange ?

And don't forget to sell on Sunday to ensure the lowest possible price!  Yes, yes, you can collect overtime for working Sunday.

There's no way this price level holds when the banks open tomorrow. If it does, I start hitting all the pawn shops and loan sharks I know. Can't imagine I'll be the only one doing it, either.

When you say "There's no way this price level holds" you mean that the price will recover; the price is not going to hold means the price is going down

How the hell am I supposed to get any sleep tonight?

This, my entertainment for the night

What kinds of odds are posters placing on the price movement - either after the wall is pulled or after the wall is eaten?  

It seems most posters seem inclined to believe the price will be bullish, and for the reasons of my earlier post, I am inclined to believe it is bearish (b/c the fiat is going to be exhausted by the quantity of coins being purchased at this $300 price point - and NO current ability to add fiat to Stamp).  

Could go down a bit more but there is a lot of fiat on bitstamp waiting to buy back

That´s a fucking big wall. 18000 BTC $5,400,000 USD. WOW! Someone it´s hurry to sell all his bitcoins or to manipulate hard the market to dump the price a lot.

Huge wall if the price goes up he will lose a lot

[Stankia]

Why are the volumes not showing up at 5 min intervals on wisdom? Just a black wall of nothingness for the past 2 hours.

[seleme]

That´s a fucking big wall. 18000 BTC $5,400,000 USD. WOW! Someone it´s hurry to sell all his bitcoins or to manipulate hard the market to dump the price a lot.

It was 30k few hours ago.

[nanobrain]

Done my bit and bought a nibble.

It's tempting to walk away and return in eight hours but there's something hypnotic about such inaction.

[neilol-real]

Arbitrage opportunity starting to appear between Stamp/Coinbase and Bitfinex

Anyone who actually has fiat on Stamp could make a few %'s