Wall Observer - MtGoxUSD wall movement tracker

[Richy_T]

How does the notion of a cargo cult apply here? 

you can't see it at all?  

Cargo cult is imitating the actions of others in the belief that it will bring about circumstances that aren't linked to those actions. I think I see what's being got-at but I don't think it really applies. I'll have to read the buttcoin article later.

[1714240067]

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[1714240067]

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[Richy_T]

What worries me the most is that it is Monday, fiat has entered the system and prices should have started to rise by now. Instead we are slowly going down..

there have been mondays when it was very slow ..  
i think people are just sitting their waiting for the price to stabilize..   so Am I
if some big fish suddenly buys a lot.. all want back in ..
if some big fish massivly dumps coins.. all want to sell.. if they are still holding coins after the big (crash/correction).

but looking at trend over the year.. we are still in bullish trend..   in my oppinion  

i wanne buy.. but i need a big fish to start it up again there must be a lot of cash flowing.. all who sold at +200$ are sitting on massive fiat funds..

they can buy realy cheap now hint hint hehe

Heh, yeah. When the price goes up, everyone rushes to buy. When the price grows down, everyone rushes to sell. When the price is kinda-sorta-doing nothing, nobody knows what the fuck to do.

[sukiho]

Bitcoin is down ~10% currently. Anyone happen to take notice that gold and silver are also down ~10% right now? Any thoughts or knowledge about that?

I can't speak for gold and silver, but the problem with Bitcoin is its' users all consider themselves 1337 traders and aren't that interested in using it as a currency.

traders use it as a currency to buy $

[hobbes]

Heh, yeah. When the price goes up, everyone rushes to buy. When the price grows down, everyone rushes to sell. When the price is kinda-sorta-doing nothing, nobody knows what the fuck to do.

[adamstgBit]

What worries me the most is that it is Monday, fiat has entered the system and prices should have started to rise by now. Instead we are slowly going down..

there have been mondays when it was very slow ..  
i think people are just sitting their waiting for the price to stabilize..   so Am I
if some big fish suddenly buys a lot.. all want back in ..
if some big fish massivly dumps coins.. all want to sell.. if they are still holding coins after the big (crash/correction).

but looking at trend over the year.. we are still in bullish trend..   in my oppinion  

i wanne buy.. but i need a big fish to start it up again there must be a lot of cash flowing.. all who sold at +200$ are sitting on massive fiat funds..

they can buy realy cheap now hint hint hehe

Heh, yeah. When the price goes up, everyone rushes to buy. When the price grows down, everyone rushes to sell. When the price is kinda-sorta-doing nothing, nobody knows what the fuck to do.

so true...

the chart look good, i'm seeing a lot of volume when their is a small push down, everything is just fine

[BitcoinAshley]

Ok, speculators, here's a twitter post for you to speculate on, this mention by Libertarian Party twitter is sure to result in a $50 increase over the next 2 days...



 
Ok, now that we've got the laughs out of the way -
As for price, confidence was severely shaken by the tumble. You are right that a lot of people are waiting for a couple "big fish" to start a rally before they jump in, because they simply don't know how low it's going to go.

If you were a big fish, and you even wanted to attempt to inspire a rally (with a large purchase) in these circumstances, chances are you would wait till Tuesday-Wednesday when there was a lot more fiat sitting there (some bank transfers will arrive Monday, some Tuesday, etc.)
Just a thought. Of course, who knows what will happen  

[seleme]

Graphs moving slowly to left..

[GreekGeek]

 
http://www.youtube.com/watch?v=1lWJXDG2i0A

http://www.youtube.com/watch?v=7HKoqNJtMTQ

[Zangelbert Bingledack]

Remember that the exponential trendline since January (cutting out the post-Cyprus bubble) has the price at around $70 now, with support more like $50. We could easily go that low. I'm only going to start worrying if we get below $30.

HOWEVER, a return to the exponential trendline at $70 may sound bad right now, but that same trendlime has us at $1,000 by September and $10,000 by Christmas. Try not to hate on it too much

Patience.

[hobbes]

People are much more aware of a crash now than 2011. Maybe all the weak hands have sold already.

I hope we are bottoming out @90 or even breaking out upwards.

[Geddi]

Bear's Innuendo: Terrific Cash Out Is Near

[UKMark]

It's gotta stop soon, hasn't it?

[batcoin]

 

This thread is such a goldmine and wealth of information. Thank you all who contribute! xD

[ElectricMucus]

I don't know if that has been posted yet...

[DougTanner]

Monday rally has not yet appeared, very bearish sign. But I'll wait until Wednesday afternoon to really decide it's going far down.

[stereotype]

Seeing pressure build up on the bid.

[Brushan]

Bids becoming weaker and weaker.

[elux]

[seleme]

I bought some at 90, it had to go down few minutes later

[crazy_rabbit]

Remember that the exponential trendline since January (cutting out the post-Cyprus bubble) has the price at around $70 now, with support more like $50. We could easily go that low. I'm only going to start worrying if we get below $30.

HOWEVER, a return to the exponential trendline at $70 may sound bad right now, but that same trendlime has us at $1,000 by September and $10,000 by Christmas. Try not to hate on it too much

Patience.

I mean a couple weeks ago I was thrilled we broke $50. Now I'm all sour about it being under $200. Talk about ungrateful.