Wall Observer - MtGoxUSD wall movement tracker

[robocoin]

naima 53, are this screenshots from the bearporno.avi? Looks interesting.

[1713550642]

1713550642

[humanitee]

Kim Dotcom just tweeted that Mega now accepts Bitcoin. I'm sure we can expect one or two more press articles on this next week.

https://twitter.com/KimDotcom/status/302844443223023616

Reddit + Mega. Hell yeah, next week will be nuts!

[solex]

thefiniteidea, sorry , but I consider the "market cap" to be an artifact or epi-phenomenon of price. Not offering any real support/resistance.

naima53, impressive technical analysis, but sometimes a step back is needed.

Look at the four-hour chart, it is like Table Mountain. How often does a massive bull run end in a table-top formation? Never?
The market is consolidating, but also coiling like a spring, all the moving averages are converging. It is the weekend so perhaps no major action until Monday. A spike up is coming, and it may be the start of another leg, or the final top before exhaustion is reached.

[oakpacific]

Kim Dotcom just tweeted that Mega now accepts Bitcoin. I'm sure we can expect one or two more press articles on this next week.

https://twitter.com/KimDotcom/status/302844443223023616

Yup, Finally Kim Dotcom could spend his Bitcoins to troll on Reddit! The market is expanding.

[thefiniteidea]

I don't understand what I'm seeing then... 

[solex]

I don't understand what I'm seeing then... 

OK. I was thinking of the significance of round numbers on a market cap chart. People do place a lot of long-term orders at prices like $30 etc, but not when the cap approaches $300m etc.

As it happens, all the s/r levels you have highlighted is sound and perhaps BTC is an unusual instrument because the issuance is an arithmetic progression at fixed time intervals. I don't believe anything else works like that. So this market cap chart certainly can't be ignored for s/r.

[thefiniteidea]

Yay! No tomatoes!! 

[naima53]

naima 53, are this screenshots from the bearporno.avi? Looks interesting.

thefiniteidea, sorry , but I consider the "market cap" to be an artifact or epi-phenomenon of price. Not offering any real support/resistance.

naima53, impressive technical analysis, but sometimes a step back is needed.

Look at the four-hour chart, it is like Table Mountain. How often does a massive bull run end in a table-top formation? Never?
The market is consolidating, but also coiling like a spring, all the moving averages are converging. It is the weekend so perhaps no major action until Monday. A spike up is coming, and it may be the start of another leg, or the final top before exhaustion is reached.

The previous correction (bear porn) showed strong bull IMHO. But we need a long consolidation IMHO.

Or bulls must have a lot of fiat currency. (just a big risk) Personally, I will wait, in which direction the market will turn. And it would encourage the big players in deception, or provocation. Could be a trick of the major players.

[oakpacific]

OK, let me give my analysis: Price stops moving=nobody wants to buy/sell=nobody is using/wants to use Bitcoins, so it's a bearish signal, SELL!!

[Herodes]

OK, let me give my analysis: Price stops moving=nobody wants to buy/sell=nobody is using/wants to use Bitcoins, so it's a bearish signal, SELL!!

LOL  - or it's just sunday.

Edit: And just a question, what is the rationale behind trying to keep the price artifically high ? At the moment, the wall at 7.15 is being eroded, and some bot or person is buying for 0.01 at the highest ask.

Apart from being a bull and wanting the price to look higher than it actually is, what would be the advantage ?

[solex]

OK, let me give my analysis: Price stops moving=nobody wants to buy/sell=nobody is using/wants to use Bitcoins, so it's a bearish signal, SELL!!

LOL  - or it's just sunday.

Edit: And just a question, what is the rationale behind trying to keep the price artifically high ? At the moment, the wall at 7.15 is being eroded, and some bot or person is buying for 0.01 at the highest ask.

Apart from being a bull and wanting the price to look higher than it actually is, what would be the advantage ?

It might be an attempt to spark a surge in momentum, becoming self-fulfilling by being seen and attracting increasing numbers of buyers. Probably a futile exercise. One thing about markets is that they take all the time they want to consolidate before deciding where the trend goes.

[Herodes]

6K backing at 27 now. Seems like more people are interested in keeping the price up.

[oakpacific]

OK, let me give my analysis: Price stops moving=nobody wants to buy/sell=nobody is using/wants to use Bitcoins, so it's a bearish signal, SELL!!

LOL  - or it's just sunday.

Edit: And just a question, what is the rationale behind trying to keep the price artifically high ? At the moment, the wall at 7.15 is being eroded, and some bot or person is buying for 0.01 at the highest ask.

Apart from being a bull and wanting the price to look higher than it actually is, what would be the advantage ?

It may just be that no one wants to be the first, bulls or bears. Bears apparently got scared by the Thursday trap, and bulls are suspicious whether the rally could continue, so they just lay up high walls and play defense.

[Liquid]

[Technomage]

I think it's likely that we will see the all time high broken next week. Kim Dotcom finally promoting Bitcoin is even bigger than the Reddit news, since he is such a high profile guy. I believe a fuckton of new money is coming in. Any corrections now will likely be very short lived.

[thoughtfan]

I think it's likely that we will see the all time high broken next week. Kim Dotcom finally promoting Bitcoin is even bigger than the Reddit news, since he is such a high profile guy. I believe a fuckton of new money is coming in. Any corrections now will likely be very short lived.

I would tend to agree but it's fun watching it going the other way right now   With the $27 bid wall that was there for best part of the last 24 hrs gone I think those wanting to buy are pulling back waiting and hoping it goes lower to get back in.  There seems to be enough people here believing there's a significant correction coming to let it fall for now.  How far before a significant chunk goes 'OK, it may go lower but I don't care.  I'm buying back in now?' nobody knows but when it does obviously it will halt the drop.

[Technomage]

Indeed. It's actually a blessing for all the people buying next week. If it goes down a bit now, that is.

[Liquid]

[Ente]

Rebounce? Like a boss!

Indeed, exciting times! Next week will be no-sleep-week :-)

Ente

[Beta-coiner1]

I am not so sure but I'm thinking the price will recede somewhat.I definitely think BTC is overvalued.