Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[The-Real-Link]

While not entirely complete of course (I must use the machine for other work too), here is the latest timelapse after the crash.

Lots of selling, lots of buying... insanity!

http://www.youtube.com/watch?v=rVvLvvl5zGM

[Terpie]

sorry for the off topic but

bitfloor stopped trading!!!!

"All trading is currently suspended.
 I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely.   Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals  as we have in the past. As such, I have made the decision to halt operations and return all funds.

Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request.

- Roman
founder - bitfloor.com"

Why I laugh when other people are screaming to move to other exchanges. Between bitcoin24 and now this, the smaller exchanges are just WAY more unsafe to store funds.

[GreekGeek]

sorry for the off topic but

bitfloor stopped trading!!!!

"All trading is currently suspended.
 I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely.   Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals  as we have in the past. As such, I have made the decision to halt operations and return all funds.

Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request.

- Roman
founder - bitfloor.com"

Why I laugh when other people are screaming to move to other exchanges. Between bitcoin24 and now this, the smaller exchanges are just WAY more unsafe to store funds.

+1

[Miz4r]

Anyone noticed how the 95 wall is about to be eaten alive by the green monster over there? Next stop 100.

[Frozenlock]

I see a triangle. Damnit TAists, you started to convert me!

[just1nmc]

I'm loving all this selling going on at $90+. People are selling thousands of coins, expecting to buy in cheaper over the weekend, and the price hasn't moved at all.

[michaelGedi]

sorry for the off topic but

bitfloor stopped trading!!!!

"All trading is currently suspended.
 I am sorry to announce that due to circumstances outside of our control BitFloor must cease all trading operations indefinitely.   Unfortunately, our US bank account is scheduled to be closed and we can no longer provide the same level of USD deposits and withdrawals  as we have in the past. As such, I have made the decision to halt operations and return all funds.

Over the next days we will be working with all clients to ensure that everyone receives their funds. Please be patient as we process your request.

- Roman
founder - bitfloor.com"

Why I laugh when other people are screaming to move to other exchanges. Between bitcoin24 and now this, the smaller exchanges are just WAY more unsafe to store funds.

thank fuck I just withdrew all my coins from bitstamp... I already lost a lot of € in the BTC24 debacle... Now Bitstamp sounds like it may get swamped with new customers from gox - and their infrastructure is not ready yet!

They are a great service though...

[samson]

There's still a million dollar wall at $70. What are the chances that someone will get us past that?

I'd say 100% when it's pulled.

[MAbtc]

There's still a million dollar wall at $70. What are the chances that someone will get us past that?

I'd say 100% when it's pulled.

This. The big walls are time and time again just illusions. We approach them and they disappear. How often do they actually get eaten through? I don't have faith right now that the support moving up is real support. Price crashes 81% in less than a week and we are stabilized / on an uptrend like a day later?   

[just1nmc]

There's still a million dollar wall at $70. What are the chances that someone will get us past that?

I'd say 100% when it's pulled.

This. The big walls are time and time again just illusions. We approach them and they disappear. How often do they actually get eaten through? I don't have faith right now that the support moving up is real support. Price crashes 81% in less than a week and we are stabilized / on an uptrend like a day later?   

Sure, big walls can be pulled, but how much does it matter? The $1M wall at $70 now has $4.5M (and rising) of support in front of it. It's not like the current price is being held up by one person.

[samson]

There's still a million dollar wall at $70. What are the chances that someone will get us past that?

I'd say 100% when it's pulled.

This. The big walls are time and time again just illusions. We approach them and they disappear. How often do they actually get eaten through? I don't have faith right now that the support moving up is real support. Price crashes 81% in less than a week and we are stabilized / on an uptrend like a day later?   

I'm calling bullshit on the support, if it falls to the wall after any further significant rise, it's going down to the next level which would be the $50 support.

At that point I have to wonder if there will be enough downward momentum to break through it.

[samson]

Sure, big walls can be pulled, but how much does it matter? The $1M wall at $70 now has $4.5M (and rising) of support in front of it. It's not like the current price is being held up by one person.

True

[keewee]

[GreekGeek]

doesn't anyone else see the similarities?

[samson]

doesn't anyone else see the similarities?

Yes

[GreekGeek]

Yes

thank you

[just1nmc]

doesn't anyone else see the similarities?

The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.

There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.

[Frozenlock]

doesn't anyone else see the similarities?

The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.

There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.

Why would they buy now, if they can get cheaper later?

[GreekGeek]

doesn't anyone else see the similarities?

The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.

There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.

no bad news?
what are you talking about?
btc24 is history along with +5M $
bitfloor stoped trading (AML reasons probably too)
it just hasn't made it to the news yet


 

[samson]

doesn't anyone else see the similarities?

The important part is post-bubble. There's no reason to think that it will behave the same as in 2011.

There is no bad news this time to crush confidence. Actually, good news is still coming in just as it did on the way up. New merchants accepting every day. New exchanges and projects being worked on. Plenty of media coverage and people coming in.

Why would they buy now, if they can get cheaper later?

Initiaiting a several large scale mass dumps can be a good way to purchase new additional coins for much less than you sell them for, especially once it picks up pace and others also join in the dumping frenzy sending the price down further.

Then pull a couple of bid walls and  the price is in freefall.