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

[abercrombie]

Is crypto done??   

[derpinheimer]

Massive shorts.. longs are moving down.

I really dont see how that is sustainable. I mean, yeah there are 22m of longs and only 5m of shorts.. but......

[Eddie Brock]

Ripple will reach 1 billion marketcap tomorrow

Bitcoin will reach 1 billion marketcap tomorrow too.


Serves you right, humans.

[elinehaarbollen]

Ripple will reach 1 billion marketcap tomorrow

Bitcoin will reach 1 billion marketcap tomorrow too.


Serves you right, humans.

Bork laser ?

[prophetx]

bye bye 300s

hello 200s...  everyone get on board the dollar train!

[abercrombie]

Bull trap!

[prophetx]

Everyone enjoying the pump and dump?

wich pump ?
I only saw a dump this year..

Btw ripple is going to the moon , why ?

someone put willy bot to work on the ripple network... according to rumors...

[derpinheimer]

Hold your breath.. this could get even uglier

[abercrombie]

Hold your breath.. this could get even uglier

[noobtrader]

bitcoin 300  

[InvestorPerson]

ouch.

laughingtinkerbell.jpg

 

Is crypto done??   

nah, the tech (blockchain) is doing pretty well. you should stop worrying about the price that much 

[derpinheimer]

1900CNY

[pjviitas]

Next stop $275

[Malin Keshar]

Next stop $275

I won't be surprised if we pass 270 like a falling rock into a paper sheet

[prophetx]

you guys don't worry at least bitcoin seems to be going up against the Russian Ruble

we can all go live in Moscow with Edward Snowden

[TeeBone]

Die you pump and dump fraud, die bitch !!

[ChartBuddy]

Explanation

[ShroomsKit]

Cheap coins everyone!
This is awesome right?

Right?

[ShroomsKit]

I haven't seen this one in a while:

Just shaking out the weak hands.

[bclcjunkie]

also it's the margin trading that decides market movements these days... look at those idiots piling into short positions recently about to get margin called... the same noobs change their tune as soon as they spot a tiny rally and start throwing money on longs, so gullible and so easy to profit from... this will probably go on as long as speculators can profit and shake more coins off of the weak hands... i'd say no rally until some real black swan type of event drives up real demand and bleeds all those speculators dry... somehow china exchanges and finex appear to be working in tandem and profiting greatly on a regular basis...

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.