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

[Voodah]

CampBX is now on par with Bitstamp.

Only Btc-e remains higher...

[Its About Sharing]

CampBX is now on par with Bitstamp.

Only Btc-e remains higher...

What the heck is going to happen once people can withdraw their money from Gox?

If you can sell higher and move the money out, many will do that.  Wait 13 days? 10 days? 5 days?

Which larger seller is gonna blink first on Gox?

[Its About Sharing]

CampBX is now on par with Bitstamp.

Only Btc-e remains higher...

BTC.de is at $112 (The Germans are very resistant ;-)

[dave111223]

CampBX is now on par with Bitstamp.

Only Btc-e remains higher...

Is it more difficult to get wires out of BTc-e?

I notice that on their USD wire section is says:

International withdrawals will be charged with 1.5% fee, minimum fee is $150

Is this $150 a typo or what?

[Traktion]

Wow, this is interesting. Looks like MtGox is really learning how to F themselves (not to mention a lot of their customers).
Looks like Gox is going to lose a lot more market share after this one, rightfully so and good for us.
I'm gonna sit this one out until things clarify themselves. Did I get my shooting star? 

Predictions from this fellas?

http://www.bitcoincharts.com/markets/bitstampUSD.html



Look at that same chart, zoomed out.

To get as many bids as asks at 108, you have go right down to 80! 

Ranging from 90-100 looks easily possible. Less than 90 doesn't look off the table either.

I currently have speculative orders in at 91 and 81, while I monitor the action from a distance.

[Its About Sharing]

Wow, this is interesting. Looks like MtGox is really learning how to F themselves (not to mention a lot of their customers).
Looks like Gox is going to lose a lot more market share after this one, rightfully so and good for us.
I'm gonna sit this one out until things clarify themselves. Did I get my shooting star? 

Predictions from this fellas?

http://www.bitcoincharts.com/markets/bitstampUSD.html



Look at that same chart, zoomed out.

To get as many bids as asks at 108, you have go right down to 80! 

Ranging from 90-100 looks easily possible. Less than 90 doesn't look off the table either.

I currently have speculative orders in at 91 and 81, while I monitor the action from a distance.

Ahhh, I didn't realize there was a fuller chart available - Thx.

Be really really careful with your placements. You might very well make a profit but if the volume there is so low that it will slice through and won't bounce off the bottom till it hits resistance (which may be at $60 - $70). Looking at the chart last weekend I came up with these key support levels: $90, $82, $60, low $50's and possibly 20's. Nothing really new with my numbers but I did verify some of the patterns with the past bubble correction.

[ChartBuddy]

[klee]

Drop in MtGox started!

[old_engineer]

Look at that same chart, zoomed out.

To get as many bids as asks at 108, you have go right down to 80! 

Not only that, but there's $570000 in leveraged long positions on bitfinex according to https://www.bitfinex.com/pages/stats , which is about the same as the order book at Bitstamp!

If my math is right, a long position taken at $105 at 2.5:1 leverage and 90% reserve would get liquidated at $75.  Since there's only 3100 btc to $75, someone could sell 3100 btc down to $75, then likely catch the subsequent liquidations to regain their bitcoin holdings at a lower price.  Hmm.  Perhaps that's what the eager bitstamp seller was trying to do when they dropped the price to $90?  Or perhaps there was an eager seller to $95, and the rest was the liquidation of a bitfinex user that took a long position at $120+?  Big liquidations like that used to happen all the time when Bitcoinica allowed 10:1 leverage.

[Traktion]

http://www.bitcoincharts.com/markets/bitstampUSD.html



Look at that same chart, zoomed out.

To get as many bids as asks at 108, you have go right down to 80! 

Ranging from 90-100 looks easily possible. Less than 90 doesn't look off the table either.

I currently have speculative orders in at 91 and 81, while I monitor the action from a distance.

Ahhh, I didn't realize there was a fuller chart available - Thx.

Be really really careful with your placements. You might very well make a profit but if the volume there is so low that it will slice through and won't bounce off the bottom till it hits resistance (which may be at $60 - $70). Looking at the chart last weekend I came up with these key support levels: $90, $82, $60, low $50's and possibly 20's. Nothing really new with my numbers but I did verify some of the patterns with the past bubble correction.

Yes, approx. 91 and 81 are my immediate goals. I suspect there will be bounces to profit off these resistance points. I would expect to buy in again lower should the price permit.

[crazy_rabbit]

http://www.bitcoincharts.com/markets/bitstampUSD.html



Look at that same chart, zoomed out.

To get as many bids as asks at 108, you have go right down to 80! 

Ranging from 90-100 looks easily possible. Less than 90 doesn't look off the table either.

I currently have speculative orders in at 91 and 81, while I monitor the action from a distance.

Ahhh, I didn't realize there was a fuller chart available - Thx.

Be really really careful with your placements. You might very well make a profit but if the volume there is so low that it will slice through and won't bounce off the bottom till it hits resistance (which may be at $60 - $70). Looking at the chart last weekend I came up with these key support levels: $90, $82, $60, low $50's and possibly 20's. Nothing really new with my numbers but I did verify some of the patterns with the past bubble correction.

Yes, approx. 91 and 81 are my immediate goals. I suspect there will be bounces to profit off these resistance points. I would expect to buy in again lower should the price permit.

Thinking that for the moment this withdrawl issue is temporary. I don't know how many people are going to need fiat so urgently that they are willing to dump for $80. I could be wrong though.

[solex]

Thinking that for the moment this withdrawl issue is temporary. I don't know how many people are going to need fiat so urgently that they are willing to dump for $80. I could be wrong though.

I agree, unless of course Mt Gox has the same 2-week clock which Butterfly Labs swears by.

[Its About Sharing]

Thinking that for the moment this withdrawl issue is temporary. I don't know how many people are going to need fiat so urgently that they are willing to dump for $80. I could be wrong though.

It becomes a game of who will blink first though. As that 2 week date approaches some people might actually start selling as they think they will be able to then get their money out and buy elsewhere for less.
As long as the arbitrage remains between exchanges this remains a possibility. The next few hours... days will be key...

[Coinseeker]

This is the perfect time to dump thousands of coins.  Expect a continued drop.

[Its About Sharing]

This is the perfect time to dump thousands of coins.  Expect a continued drop.

I've actually been agreeing a bit with you lately. Free for coffee later? 

Volume already at 28,000 and most of you guys in the US are not even awake yet.  

[ChartBuddy]

[lucas.sev]

5 and 20BTC buys with 1.5$ slippage, seems like people desperately want to keep the price high

[SGExodus]

Big buy going on again.. Need those bitcoin to transfer wealth out of mtgox.

[samson]

5 and 20BTC buys with 1.5$ slippage, seems like people desperately want to keep the price high

LOL, it's just a matter of time.

Even without the latest fuckup by MtGox it was only a matter of time anyway

[gizmoh]

5 and 20BTC buys with 1.5$ slippage, seems like people desperately want to keep the price high

People are more confident with Btc in their wallet than worthless USD in Gox.