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

[pera]

what many of you don't understand is that this is the first Chinese price peak, of course many of them sold their new btc's... this is just the begin
I really can't believe I have to say this, seriously, stop being so dramatic and try to see the big picture

 BTC

[Erdogan]

Market      Last      Volume (24h)   Bid      Ask      High      Low

mtgoxUSD       186.8000    88,184.96       175.40    175.50    233.40    175.30
btcnCNY       1160.0000    46,644.16       1160.00    1166.00    1328.00    1010.11
bitstampUSD    169.9500    45,086.09       168.99    168.00    205.44    156.20
btceUSD       170.1090    29,341.98       166.00    167.00    204.00    152.50
mtgoxEUR       135.2000    14,390.43       131.11    132.66    167.90    125.00

This should be a record high afaic volume transaction history. I like it...

MtGox - the biggest and best exchange.

[maz]

I think it will ripple out like a wave till midday or at least 7am est. Think people are wanting to ensure if they bought in last week or two weeks due to a bunch of new blood buying in (me included) that they retain some sort of profit or gains. Therefore those going long will pick up big dumps here and there till it normalizes.

Newblood's got a lesson coming, a hard one I reckon. bitcoin goes where it wants, and its ruthless!

[klee]

After Aprils crash, tonight was nothing.. Reminds me more of the 20%+ drops we had with the price rising.. Not to sound like an uber bull but if come tomorrow morning the market is trading right back where it was (230 Gox 205 Stamp 1325 BtcC) or slightly below we should have a pretty significant rally...

This!

The real rally will begin if we pass 200$ again today - it was a very nice correction.

IF it REALLY crash after this event, it will be in the 500-1000 era!

HOLDING WITHOUT SECOND THOUGHTS UNTIL 500 @Stamp.

I don't know what you are smoking but I want some. I thought silkroad closed .

Shut up newbie!

Oh and I have a shitload of xrps so you cannot impress me - I was buying them when you were wondering which Bitcoin client you should download.

BTW I only take Deprenyl

EDIT: Do you have Mastercoins? Be my bitch, I sell 1MSC=2BTC because I am a good man

[JustAnotherSheep]

Damn funds taking so long to transfer. Here's to hoping for another whale dump tomorrow when I got me some fiat ready at the exchange!

[rpietila]

(Bitstamp figures used) If we set the beginning of the current upmove to $122, which was the base in early October, and the high point to $205.4, we have the following Fibonacci levels:

1st: $173.5
2nd: $153.9
3rd: $141.7

I have been successfully trading but watching the 2nd level almost always. If we are talking about a daily move, the base is the plateau in the last 12-24 hours, if medium-term move, the base is the last consensus when price was flat for several days or weeks.

We already touched $157 and now the price is going up with a vengeance. There are several scenarios:

- Price will continue to go up, and surpass the intermediate high of $205 in a few days, so that this will be remembered as a flashcrash. In February-March we had several of them, shaving off 20-30% of the price but leaving no mark except on those who sold out and did not manage to buy back in.

- Price will fall back to where we started ($120s), which questions the viability of the whole supposed uptrend or this October, turning it to a bull trap. meh87 is advocating this.

- We are currently experiencing a Fibonacci retracement on our way to higher highs. This would point to a reasonable probability of revisiting $150s, and underline the support found there. If I had money in the exchange, I would try to fish from there, and not hope for going any lower. If several days pass and the uptrend is resumed, the scenario still holds but the opportunity to buy has already passed.

[mah87]

(Bitstamp figures used) If we set the beginning of the current upmove to $122, which was the base in early October, and the high point to $205.4, we have the following Fibonacci levels:

1st: $173.5
2nd: $153.9
3rd: $141.7

I have been successfully trading but watching the 2nd level almost always. If we are talking about a daily move, the base is the plateau in the last 12-24 hours, if medium-term move, the base is the last consensus when price was flat for several days or weeks.

We already touched $157 and now the price is going up with a vengeance. There are several scenarios:

- Price will continue to go up, and surpass the intermediate high of $205 in a few days, so that this will be remembered as a flashcrash. In February-March we had several of them, shaving off 20-30% of the price but leaving no mark except on those who sold out and did not manage to buy back in.

- Price will fall back to where we started ($120s), which questions the viability of the whole supposed uptrend or this October, turning it to a bull trap. meh87 is advocating this.

- We are currently experiencing a Fibonacci retracement on our way to higher highs. This would point to a reasonable probability of revisiting $150s, and underline the support found there. If I had money in the exchange, I would try to fish from there, and not hope for going any lower. If several days pass and the uptrend is resumed, the scenario still holds but the opportunity to buy has already passed.

I like your insightful analysis : "Anything can happen!" style. Thank you Sir.

[beekeeper]

It was too short and price did not fall below the initial value when btcchina rush started. My opinion is, after a short break it will start rising again. But who can tell the future..

[BitPirate]

what many of you don't understand is that this is the first Chinese price peak, of course many of them sold their new btc's... this is just the begin
I really can't believe I have to say this, seriously, stop being so dramatic and try to see the big picture

 BTC

This is not true at all.

Don't be taken in.

The price movements are all down to the 0% fee

[klee]

(Bitstamp figures used) If we set the beginning of the current upmove to $122, which was the base in early October, and the high point to $205.4, we have the following Fibonacci levels:

1st: $173.5
2nd: $153.9
3rd: $141.7

I have been successfully trading but watching the 2nd level almost always. If we are talking about a daily move, the base is the plateau in the last 12-24 hours, if medium-term move, the base is the last consensus when price was flat for several days or weeks.

We already touched $157 and now the price is going up with a vengeance. There are several scenarios:

- Price will continue to go up, and surpass the intermediate high of $205 in a few days, so that this will be remembered as a flashcrash. In February-March we had several of them, shaving off 20-30% of the price but leaving no mark except on those who sold out and did not manage to buy back in.

- Price will fall back to where we started ($120s), which questions the viability of the whole supposed uptrend or this October, turning it to a bull trap. meh87 is advocating this.

- We are currently experiencing a Fibonacci retracement on our way to higher highs. This would point to a reasonable probability of revisiting $150s, and underline the support found there. If I had money in the exchange, I would try to fish from there, and not hope for going any lower. If several days pass and the uptrend is resumed, the scenario still holds but the opportunity to buy has already passed.

Beautiful analysis!

[Davyd05]

Buying in at 142cad, I'm fine with movement back to 120usd.

However does anyone think that any of the sales were miners and the fear in new miners that this is the best price they'll see...which I can't personally believe in the long run( 1-2 years). Mind you I'd think these people wouldn't have the volume to initiate this movement or co-ordination but perhaps someone else triggered it, followed by orders left to sell at $170-190 range

[ChartBuddy]

[klee]

Where are the bears??

[San1ty]

Where are the bears??

Shot down... It's hunting season my friend!

[JimboToronto]

Where are the bears??

Hibernating.

[klee]

LMAO it will hit 230$ @Gox again, oh the manipulators know how to shake weak hands and amateur traders!

[pera]

looks like we are about to pass the $200 threshold, be ready for a bullish rally if the price go near to 210 again today.

[mah87]

LMAO it will hit 230$ @Gox again, oh the manipulators know how to shake weak hands and amateur traders!

It's gonna crash

[JimboToronto]

Where are the bears??

[bitcodo]

Bears are shy, but they do come out sometimes.