Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 23989.

prophetx

legendary

Activity: 1666

Merit: 1010

he who has the gold makes the rules

Quote from: Malin Keshar on December 18, 2014, 12:18:02 AM

Quote from: ShroomsKit on December 18, 2014, 12:04:06 AM

I haven't seen this one in a while:

Just shaking out the weak hands.

It will start to appear when we reach new recent low prices, that is, when we get lower than 300 for more than a day or two

yes and we certainly will as merchants that got all those bitcoins on "black friday" or whatever sell b/c they are underwater by 20 or 30%

great solution for merchants eh....

Malin Keshar

hero member

Activity: 616

Merit: 500

Quote from: ShroomsKit on December 18, 2014, 12:04:06 AM

I haven't seen this one in a while:

Just shaking out the weak hands.

It will start to appear when we reach new recent low prices, that is, when we get lower than 300 for more than a day or two

TeeBone

sr. member

Activity: 502

Merit: 251

Quote from: caga on December 18, 2014, 12:13:51 AM

Quote from: WoopDeBoop on December 18, 2014, 12:12:34 AM

Quote from: ShroomsKit on December 18, 2014, 12:03:18 AM

Cheap coins everyone!
This is awesome right?

Right?

yep

Really?, I have seen people say that all the way when prices were dropping from 1200 to 320 now.

The paid shyster trolls are out in full force. Run along, everything is ok...

InvestorPerson

sr. member

Activity: 316

Merit: 250

Quote from: caga on December 18, 2014, 12:13:51 AM

Quote from: WoopDeBoop on December 18, 2014, 12:12:34 AM

Quote from: ShroomsKit on December 18, 2014, 12:03:18 AM

Cheap coins everyone!
This is awesome right?

Right?

yep

Really?, I have seen people say that all the way when prices were dropping from 1200 to 320 now.

"cheap" is so relative. there's always cheaper, until you go into negative values

caga

full member

Activity: 238

Merit: 100

www.secondstrade.com - 190% return Binary option

Quote from: WoopDeBoop on December 18, 2014, 12:12:34 AM

Quote from: ShroomsKit on December 18, 2014, 12:03:18 AM

Cheap coins everyone!
This is awesome right?

Right?

yep

Really?, I have seen people say that all the way when prices were dropping from 1200 to 320 now.

WoopDeBoop

full member

Activity: 271

Merit: 101

Quote from: ShroomsKit on December 18, 2014, 12:03:18 AM

Cheap coins everyone!
This is awesome right?

Right?

yep

grappa_barricata

full member

Activity: 154

Merit: 100

playing pasta and eating mandolinos

InvestorPerson

sr. member

Activity: 316

Merit: 250

just a little shakeout, just a little shakeout !

uuh wallstreet, yeah wallstreet is buying in soon, moon next, hodl you guys

Grin

bclcjunkie

hero member

Activity: 833

Merit: 1001

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...

Quote from: N12 on December 17, 2014, 12:16:59 PM

Quote from: ParabellumLite on December 17, 2014, 12:11:40 PM

Quote from: N12 on December 17, 2014, 12:09:48 PM

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.

ShroomsKit

hero member

Activity: 672

Merit: 500