Wall Observer - MtGoxUSD wall movement tracker

[proudhon]

Interesting double bottom looking situation with unprecedented volume.  $50 is probably the bottom.

Well I actually believe you are absolutely right. To be honest, I never expected the price to bottom again this week, but now that we have a second bottom slightly below the previous one, there are very few people left who believe the price is still too high (as compared to those who hope the price will go down more so they can buy more).
 
The thing is, all those sheep who are waiting at the sideline with their recently approved MtGox accounts can use this opportunity to ride the next big wave, which will hopefully bring us to $1000 in a few months. It's all a matter of confidence, the fundamental factors have been in place for a long time.

+1

[herzmeister]

+1

 

[cedivad]

proudhon, do you understand that you are the perfect counter-indicator (or the final manipulator?)

You stayed bear for months, from 20 to 256. At 250$, you said that you could be wrong, and you turned bull. The marked crashed like 2 minutes later. You stayed bear during the fall, and that's normal, but now you are turning bull again.

You are perfect!

[Rampion]

Interesting double bottom looking situation with unprecedented volume.  $50 is probably the bottom.

Well I actually believe you are absolutely right. To be honest, I never expected the price to bottom again this week, but now that we have a second bottom slightly below the previous one, there are very few people left who believe the price is still too high (as compared to those who hope the price will go down more so they can buy more).
 
The thing is, all those sheep who are waiting at the sideline with their recently approved MtGox accounts can use this opportunity to ride the next big wave, which will hopefully bring us to $1000 in a few months. It's all a matter of confidence, the fundamental factors have been in place for a long time.

+1

Proudhon, please be frank: are you trolling?

[Ente]

If we stay above 50 the next hours I count that as the bottom.
I already doubled down on the way down, so I guess I will quadruple down, huh?
Hope we don't cross 70 yet, before I get home to the seond half of my paperwallet.

Damn, what a ride!

Ente

[Ente]

Interesting double bottom looking situation with unprecedented volume.  $50 is probably the bottom.

Well I actually believe you are absolutely right. To be honest, I never expected the price to bottom again this week, but now that we have a second bottom slightly below the previous one, there are very few people left who believe the price is still too high (as compared to those who hope the price will go down more so they can buy more).
 
The thing is, all those sheep who are waiting at the sideline with their recently approved MtGox accounts can use this opportunity to ride the next big wave, which will hopefully bring us to $1000 in a few months. It's all a matter of confidence, the fundamental factors have been in place for a long time.

+1

Proudhon, please be frank: are you trolling?

Paradoxon incoming! Oh shi-

Ente

[Digikeys]

proudhon, do you understand that you are the perfect counter-indicator (or the final manipulator?)

You stayed bear for months, from 20 to 256. At 250$, you said that you could be wrong, and you turned bull. The marked crashed like 2 minutes later. You stayed bear during the fall, and that's normal, but now you are turning bull again.

You are perfect!

He he said he was wrong?

[lebing]

Guys, please dont feed the troll.

In other news, getting past 80 will be a good indicator that we are back on track for the stratosphere.

[proudhon]

Guys, please dont feed the troll.

In other news, getting past 80 will be a good indicator that we are back on track for the stratosphere.

+1, I think we could see a pass through $80 this week, with a lot of volatility up and down afterward, and then in the coming weeks some stability (as much as you can get in bitcoin anyway) around $100.

[elux]

[BitSlut69]

Guys, please dont feed the troll.

In other news, getting past 80 will be a good indicator that we are back on track for the stratosphere.

+1, I think we could see a pass through $80 this week, with a lot of volatility up and down afterward, and then in the coming weeks some stability (as much as you can get in bitcoin anyway) around $100.

Wow, that is not as doomey and gloomey as your usual outlook. You were saying single digits a few days ago weren't you?

[Richy_T]

ugh. what sad shit I just awoke to...

well, we can't blame gox lag this time.

Just imagine if they had the lag shit fixed before. I wonder how big the initial sell of would have been. Clearly it would have been huge... but you have to wonder what the 'lag fear selling' did.

I'm thinking the "getting bitcoins to Gox lag" that I experienced may have been a big cause. Think about it, price going to the sky, all those miners been waiting and ready to take a bit of profit, initiate a transfer to Gox bitcoins which would help to keep the price down and dampen the exuberance and.... Nothing.

Then a few days later comes the big crash. Suddenly all these bitcoins are in the accounts of people who are now in sell mode and the price is heading down fast. What do you do? Sell of course, hastening the crash.

Mine finally went through this morning and I sold a few but this delay has cost me. And there's no reason for it. Gox is definitely not an ambassador for Bitcoin.

[Manticore]

Interesting double bottom looking situation with unprecedented volume.  $50 is probably the bottom.

Well I actually believe you are absolutely right. To be honest, I never expected the price to bottom again this week, but now that we have a second bottom slightly below the previous one, there are very few people left who believe the price is still too high (as compared to those who hope the price will go down more so they can buy more).
 
The thing is, all those sheep who are waiting at the sideline with their recently approved MtGox accounts can use this opportunity to ride the next big wave, which will hopefully bring us to $1000 in a few months. It's all a matter of confidence, the fundamental factors have been in place for a long time.

+1

For once, I am more bearish than Proudhon (I have a feeling he's joking). I see the double-bottom....but I think you underestimate the number of people who think this can go lower and overestimate those who think it will go higher. The Mt Gox account queue wave indicator works only during periods of building hysteria. And even then it is obviously way overblown. What fundamentals factors have been in place??

[proudhon]

Interesting double bottom looking situation with unprecedented volume.  $50 is probably the bottom.

Well I actually believe you are absolutely right. To be honest, I never expected the price to bottom again this week, but now that we have a second bottom slightly below the previous one, there are very few people left who believe the price is still too high (as compared to those who hope the price will go down more so they can buy more).
 
The thing is, all those sheep who are waiting at the sideline with their recently approved MtGox accounts can use this opportunity to ride the next big wave, which will hopefully bring us to $1000 in a few months. It's all a matter of confidence, the fundamental factors have been in place for a long time.

+1

For once, I am more bearish than Proudhon (I have a feeling he's joking). I see the double-bottom....but I think you underestimate the number of people who think this can go lower and overestimate those who think it will go higher. The Mt Gox account queue wave indicator works only during periods of building hysteria. And even then it is obviously way overblown. What fundamentals factors have been in place??

The bitcoin protocol has proven itself pretty well over the years.  The infrastructure built around it has not.  The events of the past few days appear to have attracted the attention of professionals in trading infrastructure.  It'll take some time for it to get built out and prove itself, but the prospects are looking hopeful that it will get built, and with the support of robust infrastructure the fundamentals of bitcoin will be able to fully express themselves.  That's what I think.

[gizmoh]

Poudhon wants revenge,once double-triple dip continues your losses will be his reward..
Also anyone notice the regular 3-5k selling, seems satoshi and Co. wants to be millionaires after all! No more hoarding!

[Faraday]

The bitcoin protocol has proven itself pretty well over the years.  The infrastructure built around it has not.  The events of the past few days appear to have attracted the attention of professionals in trading infrastructure.  It'll take some time for it to get built out and prove itself, but the prospects are looking hopeful that it will get built, and with the support of robust infrastructure the fundamentals of bitcoin will be able to fully express themselves.  That's what I think.

Please stop  

[bixcoin]

The bitcoin protocol has proven itself pretty well over the years.  The infrastructure built around it has not.  The events of the past few days appear to have attracted the attention of professionals in trading infrastructure.  It'll take some time for it to get built out and prove itself, but the prospects are looking hopeful that it will get built, and with the support of robust infrastructure the fundamentals of bitcoin will be able to fully express themselves.  That's what I think.

So what happened to your single digits talking?

[proudhon]

The bitcoin protocol has proven itself pretty well over the years.  The infrastructure built around it has not.  The events of the past few days appear to have attracted the attention of professionals in trading infrastructure.  It'll take some time for it to get built out and prove itself, but the prospects are looking hopeful that it will get built, and with the support of robust infrastructure the fundamentals of bitcoin will be able to fully express themselves.  That's what I think.

So what happened to your single digits talking?

I think I overlooked something and made a mistake.

[bixcoin]

I think I overlooked something and made a mistake.

Fair enough. I dont see any strong signals in a 35% loss today though.

[bixcoin]

proudhon is absolutely spot on, couldn't have said it better myself

Anyone up for a bet? I say BC will see the 30ies before Sunday.