Poll
Question: Closing BTC Price June 28:
$0 - 5 (2.6%)
<$7,000 - 4 (2.1%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.5%)
$8,500-$8,999 - 3 (1.6%)
$9,000-$9,499 - 4 (2.1%)
$9,500-$9,999 - 27 (14.2%)
$10,000-$10,499 - 26 (13.7%)
$10,500-10,999 - 15 (7.9%)
$11,000-$11,499 - 14 (7.4%)
$11,500-$12,000 - 17 (8.9%)
>$12,000 - 59 (31.1%)
>$20,000 - 15 (7.9%)
Total Voters: 190

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21253276 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (68 posts by 16 users deleted.)
Dalib
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June 29, 2013, 12:13:22 AM

We will see $100 again before we see $89 on MtGox

it looks like we could bounce (at least temporarily)

I won't chance it. Watching the tape, the sells are just too big relative to the buys. It seems like we have regular guys buying and some really heavy sellers selling. I won't risk that. Yes, technically, I say bounce, but watching the tape, they are not hiding the sell sizes very well. It seems almost orchestrated.

I'll let the market calm down a bit before re-entering...

However, I myself still do very well.

I just watched it last fall after a couple of hours (about 7) before we returned over 100

Today (so far) looks even weaker with demand.


I'm really still learning to go with what I "feel" deeply and what the chart is sort of telling me. I'm not ready to jump in. I totally believe you though. It is a skill or art to know this (short term vs long trading and such). Way back when (internet bubble) I could look at a candlestick chart and just interpret sooo much from it. BTC doesn't speak to me like that. I don't trust what I'm seeing in just the chart alone. The market data adds a layer (and yet it is manipulated often) that we/I use.

Again, watch the sizes of the sells. I'm sure they will adjust them to hide them better but right now and for the last few weeks, the sell sizes have been noticeably bigger than the buys. I get the feeling like someone is playing us. So, no matter what the chart looks like, I don't trust it - go deeper. (BTW - If anyone knows of some way to monitor the size of sells relative to buys, I'm all ears.) The timestamp is key here also. (e.g. - You can see one seller put out a sale via a program and try to break it down, but it is all the same to the second, quite obvious. Nothing before or after it, stands out.)

Something a great great friend and teacher taught me:
Everything is data. Don't try to interpret the data. Just observe the data. No matter what you are talking about. So, with BTC, look at the charts, look at the posts, look at the USD, economy, banking, even esoteric things, etc. It is all data - don't judge it. Don't manipulate or organize the data. Just observe it. (Watching the matrix may help  Wink )That is hard as we are conditioned unconsciously to see things a certain way. Anyway, as I said before, if you can separate some of the more emotional parts (they are data - not wrong or right - you have to find out how true), from the mind, intuition, etc and develop an overall picture... Well, that is pretty powerful. But if you really get there, I don't think you (I), would be here. eheheh But you can sort of taste it as it comes your way. Grasshopper goes...

You are right that we should follow the trend without emotion.
But it is hard, not because they invest but since we want to invest in Bitcoin, because we trust him.

But business should be without emotion, definitely.