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

[kenji]

triple top?

[1715153745]

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[1715153745]

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[1715153745]

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[brg444]

3D MACD is negative again. 2014 was truly a great year for the "value" of bitcoin, but was terrible year for its price.

I think we will be in the high $200's, IE 270-290's before the end of 2014.

what if they are waiting for the sell wall to build and buy up quick, could it turn MACD positive

Yeah the 3D MACD could reverse, but the overall morphology of the recent 3D MACD isn't the same as it was in the previous bubbles where each box on the histogram increased from the previous until its decline. I think a lot of TA becomes completely useless in the cases of market manipulation and big news, both of which could explain the current MACD and any reversal if it were to occur.

Most recently when the 3D MACD goes red, it's red for about 4 months...no bueno

You can't have it both ways though.

Either the 3D MACD is misrepresentative and "useless" or it is not.

The historical trend after it turns red could turn out to be as irrelevant to predict the future as this turn to green ended being

[mikeh2]

surely TA only works when a decent % trade using the same methodology, I don't think that has ever been the case with btc

[ChartBuddy]

Explanation

[mymenace]

Explanation

that wall

[Elwar]

My 255 euro buy wall has held for the past few days even while the dollar amount equivalent has gone below that on several exchanges. It's only 3 BTC.

[ChartBuddy]

Explanation

[noobtrader]

the price makes me bored, can we have rally now pls Gentlemen

[macsga]

the price makes me bored, can we have rally now pls Gentlemen

Not before New Year's Eve I guess... It's been a dull year for bitcoin. Just like 2012... sigh.

[Wandererfromthenorth]

surely TA only works when a decent % trade using the same methodology, I don't think that has ever been the case with btc

What if I told you that the BTC markets are the single best market to use TA?

[cbeast]

We're at bottom of a Greater Rule of Thirds zone. If we don't see a rise beyond 360 soon, we could see capitulation and the death of all mined altcoins. Bitcoin won't die and it might be a good way to prove that all other coins are destined for oblivion.

[fichtn12345]

Don't worry, there's always a next auction with tens and hundreds of thousands of stolen BTC. The ultimate finale will be MtGox.

I really wish the community didn't just let Mark dissapear into the shadows, that guy got away with a good amount of everything in the good days of BTC (for years)

We all just let him go away.

Yes I'm blaming mark karpeles for this sell off. because he robbed me.

Sorry for answering to this old post, but i had to throw this in:

After all the whole post gox downtrend that bitcoin is going through, could have been mostly caused by dumping the 'stolen coins', no?
I guess it would have been enough ammo to push the price down slowly to these levels...
Probably i am just daydreaming here and somebody might even mentioned it before and i missed it...
I doubt i can get an answer that satisfies me, unless mark krapeles comes here and tells us the story what really happened.

[ChartBuddy]

Explanation

[Elwar]

Don't worry, there's always a next auction with tens and hundreds of thousands of stolen BTC. The ultimate finale will be MtGox.

I really wish the community didn't just let Mark dissapear into the shadows, that guy got away with a good amount of everything in the good days of BTC (for years)

We all just let him go away.

Yes I'm blaming mark karpeles for this sell off. because he robbed me.

Sorry for answering to this old post, but i had to throw this in:

After all the whole post gox downtrend that bitcoin is going through, could have been mostly caused by dumping the 'stolen coins', no?
I guess it would have been enough ammo to push the price down slowly to these levels...
Probably i am just daydreaming here and somebody might even mentioned it before and i missed it...
I doubt i can get an answer that satisfies me, unless mark krapeles comes here and tells us the story what really happened.

MtGox stopped allowing withdrawals and deposits of fiat. If that ever happens on an exchange you are on, get your bitcoins out of there fast. Everyone knew MtGox was not legit and got their money out. Those that left their money on were taking advantage of the crazy volatility going on there. The price de-coupled at one point from all other exchanges. It was no longer an exchange, it was a gambling site.

[Globb0]

Capital is fleeing Russia right now and all of the non-oligarchs have only one way to evade capital controls. Care to guess what that one way is? Every day the ruble sinks against the dollar, and Bitcoin stays more or less stable in dollar terms, bitcoin goes up in value relative to the Russian currency.

Again, doesnt that depend on someone being prepared to accept rubbles for bitcoins? if ruble is becoming worthless why would they swap their perfectly good bitcoins for it.

[JimboToronto]

MtGox stopped allowing withdrawals and deposits of fiat. If that ever happens on an exchange you are on, get your bitcoins out of there fast. Everyone knew MtGox was not legit and got their money out.

Easier said than done.

I tried to get my coins out of Gox and into paper in August 2013.

They demanded verification even though they said they were still allowing unverified Bitcoin withdrawals.

I hadn't had any ID (don't believe in it) since letting my driver's license lapse in 1966 but broke down and applied for an Ontario ID card.

By the time my ID arrived, my coins were already gone from Gox so I opened a ticket. After months of lame promises and buck-passing emails, they simply closed down.

Luckily it was only 50 coins that had cost me less than $6k.

[jonoiv]

triple top?

I think your laptop is upside down dude !

[ChartBuddy]

Explanation

[DaRude]

Capital is fleeing Russia right now and all of the non-oligarchs have only one way to evade capital controls. Care to guess what that one way is? Every day the ruble sinks against the dollar, and Bitcoin stays more or less stable in dollar terms, bitcoin goes up in value relative to the Russian currency.

Again, doesnt that depend on someone being prepared to accept rubbles for bitcoins? if ruble is becoming worthless why would they swap their perfectly good bitcoins for it.

There's always a buyer at the right price. Plus they might arbitrage. Look at btc-e and how it's above Finex now

[oda.krell]

Face it cryptobronies, US regulation was always going to be on our side, they just had to play good cop / bad cop for a bit to beat the libertard crown into submission... Because despite all that's fucked up over there, rarely does the US let a good business opportunity slip away to make their upper 50% richer and their upper 5% even richer (cf. finance industry,  90s/00s Internet boom, US shale boom).

So here's the Lawsky progression, from 'narcotraffickers' to 'we have to get it right' to 'Yo banking system, you're basically Blockbuster!" ...

If virtual currencies remain a virtual Wild West for narcotraffickers and other criminals, that would not only threaten our country’s national security, but also the very existence of the virtual currency industry as a legitimate business enterprise.

- Benjamin M. Lawsky, August 2013

If we get that right, I think the outlook for virtual currencies in one form or another is quite bright in New York, but we'll have to take it one day at a time."

- Benjamin M. Lawsky, August 2014

Virtual currency could have the potential to force the existing, legacy payments system to up its game in a significant way. [...]

And it may even cause some banks to confront the Blockbuster Video problem.

The problem [is] that in an age of heightened consumer expectations for real-time, digital payments, if banks fail to innovate, they could eventually face a real challenge.

- Benjamin M. Lawsky, December 2014