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

[derpinheimer]

Looks like btcChina is about to lead us into another dive.

dive dive dive dive dive dive dive

I wonder how this will play out without bitstamp being operational?

My guess is it wont end up being a major drop, but if it is.. imagine all the people lined up trying to log on to bitstamp and panic sell.

[ChartBuddy]

[Walsoraj]

Looks like btcChina is about to lead us into another dive.

dive dive dive dive dive dive dive

I wonder how this will play out without bitstamp being operational?

My guess is it wont end up being a major drop, but if it is.. imagine all the people lined up trying to log on to bitstamp and panic sell.

What isn't operational about bitstamp? The website loads for me. Is just the engine down?

[hyphymikey]

With a 5K wall at 175 and ~1K at each $5 interval, I don't see it going down too far.

BEARS ARE OUT OF COINS BUY BUY BUY!!!

[MAbtc]

Looks like btcChina is about to lead us into another dive.

dive dive dive dive dive dive dive

I wonder how this will play out without bitstamp being operational?

My guess is it wont end up being a major drop, but if it is.. imagine all the people lined up trying to log on to bitstamp and panic sell.

What isn't operational about bitstamp? The website loads for me. Is just the engine down?

Ditto, what's going on? I don't have anything on there so I'm not trading, but I've been watching the ticker move for the last 20 minutes. Didn't seem like anything was amiss.

[derpinheimer]

With a 5K wall at 175 and ~1K at each $5 interval, I don't see it going down too far.

BEARS ARE OUT OF COINS BUY BUY BUY!!!

? The bid depth is still atrocious, what are you talking about? Or are you trolling?

Looks like btcChina is about to lead us into another dive.

dive dive dive dive dive dive dive

I wonder how this will play out without bitstamp being operational?

My guess is it wont end up being a major drop, but if it is.. imagine all the people lined up trying to log on to bitstamp and panic sell.

What isn't operational about bitstamp? The website loads for me. Is just the engine down?

Sorry, you're right. Just good old bitcoinity being crap again.

[hyphymikey]

With a 5K wall at 175 and ~1K at each $5 interval, I don't see it going down too far.

BEARS ARE OUT OF COINS BUY BUY BUY!!!

? The bid depth is still atrocious, what are you talking about? Or are you trolling?
 

With the dump that took place less than 24 hours ago, and no money flowing into Gox, I'd say the bid depth isn't that bad.

I was more or less talking about how many coins the bears could possibly have, to make people think we are going to crash again, this time to 150, so soon.

[BitPirate]

We'll probably go through $200 a hundred times..... just like we did at $100. Actually any form of consolidation above $150 would be pretty awesome long-term.

[derpinheimer]

More chances to go to 202 than to hit 195....
I just hope it doesn't go below 190, otherwise panic will set in...
I think if we survive tonight in the 200's we will  have a quiet weekend and we will see 210-230 next week again and maybe an attempt at the record.

I already solved this dilemma the other day, it was a double top.

With a 5K wall at 175 and ~1K at each $5 interval, I don't see it going down too far.

BEARS ARE OUT OF COINS BUY BUY BUY!!!

? The bid depth is still atrocious, what are you talking about? Or are you trolling?
 

With the dump that took place less than 24 hours ago, and no money flowing into Gox, I'd say the bid depth isn't that bad.

I was more or less talking about how many coins the bears could possibly have, to make people think we are going to crash again, this time to 150, so soon.

Oh no, I definitely agree. It has rebuilt quickly and entirely. But its still bad. The $175 wall has resulted in bid sum rising about $750k USD from pre-'crash'.

[David M]

I already solved this dilemma the other day, it was a double top.

I don't agree.

http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgCza1gWMAzm1g13zm2g25

See the side-wise price action at $50 on the ramp to $266?

That's where we are now... except $50 is $200.

[Walsoraj]

More chances to go to 202 than to hit 195....
I just hope it doesn't go below 190, otherwise panic will set in...
I think if we survive tonight in the 200's we will  have a quiet weekend and we will see 210-230 next week again and maybe an attempt at the record.

I already solved this dilemma the other day, it was a double top.

With a 5K wall at 175 and ~1K at each $5 interval, I don't see it going down too far.

BEARS ARE OUT OF COINS BUY BUY BUY!!!

? The bid depth is still atrocious, what are you talking about? Or are you trolling?
 

With the dump that took place less than 24 hours ago, and no money flowing into Gox, I'd say the bid depth isn't that bad.

I was more or less talking about how many coins the bears could possibly have, to make people think we are going to crash again, this time to 150, so soon.

Oh no, I definitely agree. It has rebuilt quickly and entirely. But its still bad. The $175 wall has resulted in bid sum rising about $750k USD from pre-'crash'.

Makes sense. The "denial" period dragged on due to difficulty in getting fiat out of exchanges.

Capitulation awaits!

[hmmmstrange]

I already solved this dilemma the other day, it was a double top.

I don't agree.

http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgCza1gWMAzm1g13zm2g25

See the side-wise price action at $50 on the ramp to $266?

That's where we are now... except $50 is $200.

We are not even on that chart yet.

[VolanicEruptor]

That chart is narrow sighted, it doesn't take into account that the industry is growing, and so is the demand.  It is based purely on the emotion of investors with no accounting for actual value.  

[hyphymikey]

I already solved this dilemma the other day, it was a double top.

I don't agree.

http://bitcoincharts.com/charts/mtgoxUSD#igWeeklyztgCza1gWMAzm1g13zm2g25

See the side-wise price action at $50 on the ramp to $266?

That's where we are now... except $50 is $200.

We are not even on that chart yet.

Please let this be correct lol

[ChartBuddy]

[VolanicEruptor]

This is the flattest I've ever seen it, no support in either direction.   

[ChartBuddy]

[wachtwoord]

0.5BTC says 200 will hold forever, anyone?

I'll take that bet-escrow?
 
You can't win because "forever" will never come.

ok i won't agree to that....

Ok sub-$200 within 3 years?

i'd agree to if it goes below 200 i pay out

if it goes above 300 you pay out.

Haha did this bet stand? My free wifi at the airport cut out and then I had to board ...

[David M]

We are not even on that chart yet.

Please let this be correct lol

I think you mis-read the chart....

It is a live chart.  The "current price" is plotted as if the end of the weekly time span (Sunday 27th October 2013) is now.

Any close above $180 is extremely bullish.  IMO. YMMV.

[sarc]

This is a little out of date in some respects, but with recent events it may come back sharply into focus soon. I was curious to see just how much Silk Road was contributing to what was a strong underlying growth trend in Bitcoin price - and the answer seems to support the claims that it was almost entirely responsible (more than I expected, see below).

I doubt there's many people that believe Bitcoin got to the current giddy heights through mass adoption or genuine utility, so the next question is what happens to Bitcoin if the factors driving it up there disappear along with Silk Road?




p.s. I recently got all my money out of gox (via the bitcoin route) after being told by them that it would be 5 weeks before I could get the first 1000 euros out, then 20 days per additional 1000. Apologies if this is already widely known, but the more people that know this the better.