Wall Observer - MtGoxUSD wall movement tracker

[sd]

So any input on the action in the next 1 to 2 days? Are we gapping up Monday morning? Seems like it's been eeriely quiet all weekend.

The BitCoin price seems to swap between stable and FrEaK oUt! It looks like we are in a stable phase this weekend.

I predict strong upwards movement fuelled by the amazing amounts of publicity BitCoin is getting right now. Actually I'm in shock and awe at the amount of publicity BitCoin is getting right now.

[molecular]

So any input on the action in the next 1 to 2 days? Are we gapping up Monday morning? Seems like it's been eeriely quiet all weekend.

ohoh:

Does anyone else enjoy the eerie quiet?

If this is any indication, we'll see a big move up soon

EDIT: Incidentally my post was also on a Saturday (last week, before the humongous rally).

[Kazu]

Get you're bitcoins Sunday before Europe & Asia wake up on Monday, America. Otherwise we'll have another Goxxian failure. I think this Monday will be very big considering all the press we had late last week. A weekend can do amazing things.

[zkay]

Get you're bitcoins Sunday before Europe & Asia wake up on Monday, America. Otherwise we'll have another Goxxian failure. I think this Monday will be very big considering all the press we had late last week. A weekend can do amazing things.

Interesting.

On the one hand I'm tempted to keep holding. At my current holdings I'd stand to gain a couple hundred dollars if we shot up more than $10.

On the other hand, there's something I need to buy that I have the money for now (and then some). However, the cost of this item would almost totally wipe out my holdings at the current valuation, leaving me with peharps 1, 1.5 BTC. And I could definitely use the extra few hundred.

Then there's the "Money Flow" thread here https://bitcointalk.org/index.php?topic=167112.40 which is both extremely interesting, and disturbing. The OP in that thread is predicting a massive coming correction.

What to do?

[mccorvic]

Get you're bitcoins Sunday before Europe & Asia wake up on Monday, America. Otherwise we'll have another Goxxian failure. I think this Monday will be very big considering all the press we had late last week. A weekend can do amazing things.

Interesting.

On the one hand I'm tempted to keep holding. At my current holdings I'd stand to gain a couple hundred dollars if we shot up more than $10.

On the other hand, there's something I need to buy that I have the money for now (and then some). However, the cost of this item would almost totally wipe out my holdings, leaving me with peharps 1, 1.5 BTC. And I could definitely use the extra few hundred.

Then there's the "Money Flow" thread here https://bitcointalk.org/index.php?topic=167112.40 which is both extremely interesting, and disturbing. The OP in that thread is predicting a massive coming correction.

What to do?

Well, if you need to buy you need to buy  Just be sure to reinvest into BTC as soon as possible without killing yourself.  I have no qualms about buying things for myself using BTC.  If nothing else, I see it as investing into BTC itself as I am supporting the economy and making my own BTC holdings more valuable.

Every indicator I'VE looked suggests a continued pattern into next week though.  Personally, I think the more "equations" you need to rely on the closer you get to TA and the less reliable the indicator.

[just1nmc]

Apparently the MtGox queue is over 14,000 now.

Google News is counting 200+ articles on bitcoin over the past week.

My only concern is the price going up too fast over the next few weeks.

[Kazu]

Get you're bitcoins Sunday before Europe & Asia wake up on Monday, America. Otherwise we'll have another Goxxian failure. I think this Monday will be very big considering all the press we had late last week. A weekend can do amazing things.

Interesting.

On the one hand I'm tempted to keep holding. At my current holdings I'd stand to gain a couple hundred dollars if we shot up more than $10.

On the other hand, there's something I need to buy that I have the money for now (and then some). However, the cost of this item would almost totally wipe out my holdings at the current valuation, leaving me with peharps 1, 1.5 BTC. And I could definitely use the extra few hundred.

Then there's the "Money Flow" thread here https://bitcointalk.org/index.php?topic=167112.40 which is both extremely interesting, and disturbing. The OP in that thread is predicting a massive coming correction.

What to do?

Personally I'd hold out for 1-2 more weeks if possible, or try buying in fiat only. Thats just me though, I'm known to be ridiculously cheap

The reason I say this is because the indicators that talk about -now- are predicting an uptrend, and its usually more accurate to talk about -now- rather than trying to compare the past to now and look for similarities between actions in the past and now. I'm not saying that chodpaba doesn't know what he's talking about, I'm merely saying that his indicator, while interesting, is still just one more indicator.

The other thing is that, at the end of the day, Bitcoin is simply -better- than fiat, and has been getting a lot of press. Compared to that, these chart analysis numbers don't mean quite as much.

But obviously, money is for spending. If you gotta buy it, then by all means buy it. I just see Bitcoins finally breaking out of $150 early next week and as can be seen from the charts, there is significantly more resistance before the $150 level than afterwards. Depending on how everything plays out, honestly it might just coast to $200 once the huge wall at $150 comes crashing down. Not making any promises though, aside from breaking $150 next week.

[zkay]

Get you're bitcoins Sunday before Europe & Asia wake up on Monday, America. Otherwise we'll have another Goxxian failure. I think this Monday will be very big considering all the press we had late last week. A weekend can do amazing things.

Interesting.

On the one hand I'm tempted to keep holding. At my current holdings I'd stand to gain a couple hundred dollars if we shot up more than $10.

On the other hand, there's something I need to buy that I have the money for now (and then some). However, the cost of this item would almost totally wipe out my holdings at the current valuation, leaving me with peharps 1, 1.5 BTC. And I could definitely use the extra few hundred.

Then there's the "Money Flow" thread here https://bitcointalk.org/index.php?topic=167112.40 which is both extremely interesting, and disturbing. The OP in that thread is predicting a massive coming correction.

What to do?

Personally I'd hold out for 1-2 more weeks if possible, or try buying in fiat only. Thats just me though, I'm known to be ridiculously cheap

The reason I say this is because the indicators that talk about -now- are predicting an uptrend, and its usually more accurate to talk about -now- rather than trying to compare the past to now and look for similarities between actions in the past and now. I'm not saying that chodpaba doesn't know what he's talking about, I'm merely saying that his indicator, while interesting, is still just one more indicator.

The other thing is that, at the end of the day, Bitcoin is simply -better- than fiat, and has been getting a lot of press. Compared to that, these chart analysis numbers don't mean quite as much.

But obviously, money is for spending. If you gotta buy it, then by all means buy it. I just see Bitcoins finally breaking out of $150 early next week and as can be seen from the charts, there is significantly more resistance before the $150 level than afterwards. Depending on how everything plays out, honestly it might just coast to $200 once the huge wall at $150 comes crashing down. Not making any promises though, aside from breaking $150 next week.

Thank you for your frank reply.

I am waiting on some coupons and giftcards in the mail before I can even place the order, so at the moment my options are to either hold btc or hold fiat on the exchange until I can make the order through bitspend.

Thanks guys.

[Kazu]

I've just got a couple more fun numbers to throw around that I've been mulling over.



You see that really steep part just before $150? That halved in size on Friday.

Also, it sees fair to separate that ask curve into 4 sections: Less than $150, between $150 and $180, from $180 to $200, and $200 +

I'm pretty sure that we'll break $150 next week. By Monday, people will have had all weekend to think about buying, if anything indicating a larger number of buy-ins than on Friday. This would break the $150 barrier, and send us into the $150-$180 range.

Whats interesting here is that going from $150-$180 is only slightly more difficult than going from the current price to $180. Now I know the road to $150 has taken a couple of days since the Gox incident, but note that the wall at $150 used to be twice the size of what it is right now. Much of what happens next depends on what happens after breaking the $150 level. Do we sink back down, or do the bulls build a wall at $150 and start pushing the price above $180? Doing the latter would provide a massive amount of tempo for the bulls considering that it would likely push us near, if not over, the $2B market cap line which would trigger a whole 'nother round of press coverage.

I'm not suggesting all of this will happen Monday, but it will be very interesting to see what happens in the next 2 weeks.

[aurora]

Apparently the MtGox queue is over 14,000 now.

are they all sellers?

[Kazu]

Apparently the MtGox queue is over 14,000 now.

are they all sellers?

The logic here is that if you have Bitcoins to sell, you are probably already part of gox.

[Zomdifros]

Apparently the MtGox queue is over 14,000 now.

are they all sellers?

That would be a surprise.

I'm wondering what the average investment from these people is though. I'm guesstimating an median of $500 with an average of $1000. $14 million could drive the price up quite a bit.

[Richy_T]

Apparently the MtGox queue is over 14,000 now.

are they all sellers?

Looking to sell their government funny money for BTC probably.

[XXthetimeisnowXX]

did you see the bitstamp wall??? about 1,000 high for 142 ish. but its starting to come down fast. things are going to start shakin up here in a bit

[herzmeister]

long waiting list at mtgox, and for sure not sellers, but people are hesitant to buy when they look at the charts because its... intimidating.

Guess that's also a reason for the consolidation phases... hesitation.

Until the sudden breakthru...

[Gatekeeper]

I applied to get verified with gox a couple of days ago. My queue number was 14,250 or there about. It's gone down 1k in 2 days and it's the weekend so not bad really.

Only reason i'm doing it now is so it's done, i'm a long term holder but i'd rather do it now and have plenty time to make sure everything is done right than sell in the future and have to wait even longer to receive my funds.

Must be very bullish though, just a couple of weeks ago it was 8k and they hired more staff yet the queue continues to climb

[BitcoinTate]

I applied to get verified with gox a couple of days ago. My queue number was 14,250 or there about. It's gone down 1k in 2 days and it's the weekend so not bad really.

Only reason i'm doing it now is so it's done, i'm a long term holder but i'd rather do it now and have plenty time to make sure everything is done right than sell in the future and have to wait even longer to receive my funds.

Must be very bullish though, just a couple of weeks ago it was 8k and they hired more staff yet the queue continues to climb

I am positive we will all be pleasantly surprised next week when BTC doubles in price... Or at least those of us lucky to have some coin in our lives

[jabetizo]

wall pic of mtgox waiting list plz

[Kazu]

I applied to get verified with gox a couple of days ago. My queue number was 14,250 or there about. It's gone down 1k in 2 days and it's the weekend so not bad really.

Only reason i'm doing it now is so it's done, i'm a long term holder but i'd rather do it now and have plenty time to make sure everything is done right than sell in the future and have to wait even longer to receive my funds.

Must be very bullish though, just a couple of weeks ago it was 8k and they hired more staff yet the queue continues to climb

I am positive we will all be pleasantly surprised next week when BTC doubles in price... Or at least those of us lucky to have some coin in our lives

The issue here is that I can't deposit more in time. Gox will take forever to process the wire. Unless I try cash deposit, I suppose.

[Kazu]

wall pic of mtgox waiting list plz

I've been in line since last Monday.



Some numbers have been removed to protect the innocent.

Edit: I forgot to remove one number, oh well, fiat is for noobs anyway