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

[pera]

Have we officially gone now from correction to full blown bubble collapse?

not yet but almost, it's just a matter of time until the last bulls realize that they already made enough profit for just two weeks...

[Rampion]

Have we officially gone now from correction to full blown bubble collapse?

Not yet, there's seem to be nice support at $400, but the recent mania was so crazy that this might be the moment in which we will revisit and test the all time exponential trend line (which now sits around $370).

For the "that will not ever happen crowd": just remind that the price is bound to be 50% of the time above the trend line, and 50% below it. It's math. Place your bids and take the buying opportunity if it happens. If not, be happy and remember to realize some fiat profits at some point, preferably when we are way above the exponential trend line (above $670 it was a no brainer to secure some fiat profits especially for those who bought at double digits).

[TERA]

Right now people are clinging for dear life onto the crazy november trendline. I guess when that breaks.. we go to the october trendline? That would be around $300.

[Miz4r]

Have we officially gone now from correction to full blown bubble collapse?

Nope, full blown bubble collapse is when we go below $200 again. Correction back to ~$400 on Gox would still preserve the uptrend, if we go lower things will become trickier and I may have to bring in some fresh fiat to buy.

[Vycid]

If this was a full-blown bubble collapse btcchina wouldn't be trading at $712 USD equivalent.

[TERA]

That wall on btcchina at 4000 keeps getting smaller and smaller and eclipsed by the sell orders. When it breaks who knows where itll go.

[BitPirate]

If this was a full-blown bubble collapse btcchina wouldn't be trading at $712 USD equivalent.

China futures are trading around Y3500, a full Y1500 lower than BTCChina price.

It's only a matter of time. As soon as bitstamp sort their banking out, the gap will crumble.

[gandhibt]

We have to break at least 380 on stamp that this would become crash, otherwise we will continue to follow this trend, sooner more than later.

Stick this in to your emotional head! =)

[Rampion]

Nice. On Gox money goes in, money doesn't go out. On Stamp, money doesn't go in, money doesn't go out. The rest of the exchanges? A bad joke.

Nice ecosystem and infrastructure we have. So much for the singularity fans

[hlynur]

lol
i can't login at stamp, because loading time takes longer than the time my 2faAuth-key is valid.
what a joke. 

[TERA]

That trendline is faster than exponential. It is actually the tallest of three new trendlines that we have seen this year.

July trendline: Somewhat fast but reasonable continuation of march, leading to a breakout. This could be considered a hard support and representative of the actual growth happening with bitcoin.

October trendline: Once we broke out from $150, this became the new trendline, which seemed insanely fast at the time. We knew we were leading into a bubble at this point. This trendline is perhaps representative of the growth occuring with China/Bitstamp/etc, though it is pretty fast. It MIGHT become our support after this collapse and for 2014.

November trendline: Once $266 broke, the price went ballistic and started following this new trendline. It looks completely vertical on a logarithmic chart and cannot be sustained. This is the trendline in the picture you posted. We are definitely going to break it at some point. The question is is that happening now or somewhere down the line. If it holds, it will only serve to prolong the bubble further to $1400 or so before an even larger and more devestating collapse.

[pera]

We have to break at least 380 on stamp that this would become crash, otherwise we will continue to follow this trend, sooner more than later.

Stick this in to your emotional head! =)

FIXED

[BitPirate]

We have to break at least 380 on stamp that this would become crash, otherwise we will continue to follow this trend, sooner more than later.

Stick this in to your emotional head! =)

There's a lower underlying trend line. Expect to bounce off that.

[lucas.sev]

Wow, just arrived at work, what happened over night? Where is the 1.1 million wall at 550? Cancelled or eaten through?

[gandhibt]

That trendline is faster than exponential. It is actually the tallest of three new trendlines that we have seen this year.

July trendline: Somewhat fast but reasonable continuation of march, leading to a breakout. This could be considered a hard support and representative of the actual growth happening with bitcoin.

October trendline: Once we broke out from $150, this became the new trendline, which seemed insanely fast at the time. We knew we were leading into a bubble at this point. This trendline is perhaps representative of the growth occuring with China/Bitstamp/etc, though it is pretty fast. It MIGHT become our support after this collapse and for 2014.

November trendline: Once $266 broke, the price went ballistic and started following this new trendline. It looks completely vertical on a logarithmic chart and cannot be sustained. This is the trendline in the picture you posted. We are definitely going to break it at some point. The question is is that happening now or somewhere down the line. If it holds, it will only serve to prolong the bubble further to $1400 or so before an even larger and more devestating collapse.

Maybe, but that trend did not break. Guys here think that crash is when we stay mostly above prices that were few days ago? Here's with daily candles:

[niothor]

Time for
http://www.youtube.com/watch?v=K2ku1A5Ox8U
with bitstamps instead of gox???

[nanobrain]

Nice. On Gox money goes in, money doesn't go out. On Stamp, money doesn't go in, money doesn't go out. The rest of the exchanges? A bad joke.

Nice ecosystem and infrastructure we have. So much for the singularity fans

Great isn't it...basically play money at present.

[hlynur]

lol
i can't login at stamp, because loading time takes longer than the time my 2faAuth-key is valid.
what a joke. 

Can you tell me what is causing it? I missed the whole reason behind it. All I know is that their site was down yesterday, and it looked like a DDoS attack.

i have no clue, only source is facebook site is exploding with bad comments
and their login takes nearly a minute two load (ergo i'm screwed with entering 2FAkey)
i assume ddos, but on the other side while i got error page, i saw some selloffs during this time on bitcoinity.
no way i'm gonna use that sinkhole again.
"trading with style"...

[San1ty]

lol
i can't login at stamp, because loading time takes longer than the time my 2faAuth-key is valid.
what a joke. 

Can you tell me what is causing it? I missed the whole reason behind it. All I know is that their site was down yesterday, and it looked like a DDoS attack.

i have no clue, only source is facebook site is exploding with bad comments
and their login takes nearly a minute two load (ergo i'm screwed with entering 2FAkey)
i assume ddos, but on the other side while i got error page, i saw some selloffs during this time on bitcoinity.
no way i'm gonna use that sinkhole again.
"trading with style"...

TBH they were great for the majority of the year.
I just don't know what's going on with their servers... Either scale up, or reduce api calls to your back-end.

[maz]

After speaking with Mtgox on irc, apparently my BTC withdraw is part of a 'technical issue' that they appear to have been having for nearly 2 weeks. Even though I only withdrew 3 hours ago. Just a warning to folk considering withdrawing at the moment, you could get stuck in limbo. (the real issue appears to be that they have double spent).