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

[samson]

316 fell, next horizontal support would be 275.

Out of curiosity Blitz: do you think 275 will hold? There has been a lot of talk about the 270ish level around here, and often it has been called 'the real bottom'. Given the flurry of bad bottom calls of the past 10 months or so I'm very sceptical about that, although there will likely be a major battle around that level. But what do you think?

Second: if 270-ish gets broken, do you expect Bitcoin to crumble down to the high 100's?

HODL  

Where did I put that 'holding spartans' image.

[Davyd05]

316 fell, next horizontal support would be 275.

Out of curiosity Blitz: do you think 275 will hold? There has been a lot of talk about the 270ish level around here, and often it has been called 'the real bottom'. Given the flurry of bad bottom calls of the past 10 months or so I'm very sceptical about that, although there will likely be a major battle around that level. But what do you think?

Second: if 270-ish gets broken, do you expect Bitcoin to crumble down to the high 100's?

HODL 

should know Blitz's answer to this, 1 billion market cap ftw.

I got some buying to do if that happens.

[N12]

316 fell, next horizontal support would be 275.

Out of curiosity Blitz: do you think 275 will hold? There has been a lot of talk about the 270ish level around here, and often it has been called 'the real bottom'. Given the flurry of bad bottom calls of the past 10 months or so I'm very sceptical about that, although there will likely be a major battle around that level. But what do you think?

Second: if 270-ish gets broken, do you expect Bitcoin to crumble down to the high 100's?

As for pure technical analysis, no real clue, sorry, I don't think there is a reasonable way to tell beforehand. It's one of those things where you've got to see it playing out, anything else will just lead to pouring your bias into the prediction.

But here's my bias based on psychology/sentiment: Pretty much the only thing that can calm holders nowaday is the notion that Bitcoin has never gone below the previous all time high in the following correction or bear market. Because of this, I think there are going to be a whole lot of "weak hands" in this area because it's so close to the 266 high.

Oh, as for what happens should we decisively break this level, I would definitely expect a flash crash at that point. Where that flash crash leads is extremely difficult to predict beforehand (that's the nature of a flash crash after all), but sub 200 is not out of the realm of possibility. It also really depends on the particular exchange in a super volatile environment.

[NotLambchop]

Good news everyone!
The ruble seems to be doing a bit better.
Maybe Bitcoin will follow suit?

[barbs]

a special note to those who are manipulating asks at 322 for up to 1300 coins then dropping it:

fuck you.

thanks!

[elinehaarbollen]

Good news everyone!
The ruble seems to be doing a bit better.
Maybe Bitcoin will follow suit?

What if russians are buying ripple ?

[ParabellumLite]

Good news everyone!
The ruble seems to be doing a bit better.
Maybe Bitcoin will follow suit?

What if russians are buying ripple ?

They can't, as has been explained multiple times before here already. Stop spamming for god sake, as you don't seem to want to quit. You really are asking for a ban here.

[criptix]

feels like gravity, just not sure if bitcoin is sandra bullock or george clooney

[jonoiv]

Good news everyone!
The ruble seems to be doing a bit better.
Maybe Bitcoin will follow suit?

What if russians are buying ripple ?

How?

XRP is not on BTC-e and thats the only major exchange that accepts rubles.  They could convert to dollars, but that has it's own problems.  And if they already have a dollar account then what's the point?

According to this they are buying BTC, 
http://www.cnbc.com/id/102275772

Doesn't seem to be helping.

[JorgeStolfi]

According to this [ the Russians]  are buying BTC, 
http://www.cnbc.com/id/102275772
Doesn't seem to be helping.

As noted before, that article is nonsense, in too many ways...

[jonoiv]

According to this [ the Russians]  are buying BTC, 
http://www.cnbc.com/id/102275772
Doesn't seem to be helping.

As noted before, that article is nonsense, in too many ways...

Quite possibly.  but you've never posted a nonsense article before have you. 

[mymenace]

Good news everyone!
The ruble seems to be doing a bit better.
Maybe Bitcoin will follow suit?

Maybe people are selling btc to buy ruble

[Wandererfromthenorth]

Yeah, that pretty much says it all.

 

[dakota neat]

Ripple sounds like such a shitty currency that it makes me want to go on their forums and spend all day telling them how much I think they are wrong for using it.

Then again, that would be such a waste of my life and I would have to be the biggest loser in the world to go on the forum of a currency I do not like and post on and on about how people should not be using that currency.

That would be about the stupidest thing someone could do. Such a waste of life. How much of a loser would you have to be to do something like that.

No, I will leave the Ripple users to their lives. If they like it, it's all them.

Best troll trolling ever, much respect.

[JorgeStolfi]

About Ripple (sorry!): people should be aware that "the Ripple network" and "the Ripple coin" (XRP) are two very distinct things (unlike the bitcoin network and BTC).  The banks are interested in the Ripple network, which is being designed for their use.  The banks could use the currency XRP in that network, but do not have to.  So adoption of the network by the banks does not imply that XRP will become valuable, or even survive.   (That is what I understood; please correct if it is wrong.)

[criptix]

About Ripple (sorry!): people should be aware that "the Ripple network" and "the Ripple coin" (XRP) are two very distinct things (unlike the bitcoin network and BTC).  The banks are interested in the Ripple network, which is being designed for their use.  The banks could use the currency XRP in that network, but do not have to.  So adoption of the network by the banks does not imply that XRP will become valuable, or even survive.   (That is what I understood; please correct if it is wrong.)

yes i still call ripple bs though, but my greed tells me to buy 

[noobtrader]

About Ripple (sorry!): people should be aware that "the Ripple network" and "the Ripple coin" (XRP) are two very distinct things (unlike the bitcoin network and BTC).  The banks are interested in the Ripple network, which is being designed for their use.  The banks could use the currency XRP in that network, but do not have to.  So adoption of the network by the banks does not imply that XRP will become valuable, or even survive.   (That is what I understood; please correct if it is wrong.)

yes sounds about right....

[NotLambchop]

Good news everyone!
The ruble seems to be doing a bit better.
Maybe Bitcoin will follow suit?

Maybe people are selling btc to buy ruble

The RUB/USD went up more than 10% in the past 24hrs, and BTC/USD went down what, over 5%?
Basic math tells me it's not a bad bet

[N12]

Good news everyone!
The ruble seems to be doing a bit better.
Maybe Bitcoin will follow suit?

Maybe people are selling btc to buy ruble

The RUB/USD went up more than 10% in the past 24hrs, and BTC/USD went down what, over 5%? 
Basic math tells me it's not a bad bet

Soon: Instead of Russians fleeing to BTC, we'll have Bitcoiners fleeing to Ruble.

[ChartBuddy]

Explanation