Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32865.

Dalib

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Quote from: samson on June 24, 2013, 07:55:11 AM

Quote from: Dalib on June 24, 2013, 06:55:03 AM

It seems that the next 2-3 weeks will be decisive for the next trend...

...

it is difficult to predict whether the downward trend breaks and where Embarrassed

I think it's quite obvious where we're heading : into the crash zone.

$20-$30 Bitcoins here we come.

By the way a lot of skeptical Mondays at btc-e Bitcoin 96.4, LTC 2.57 ... Sad

there all weekend bought, today sold only

samson

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Quote from: Its About Sharing on June 24, 2013, 08:03:40 AM

Quote from: rezurect on June 24, 2013, 06:44:29 AM

1.The Cease & Desist

"f found guilty, the conference organiser for Bitcoin, the decentralised digital currency, could face fines of $1,000 - $2,500 (£650 - £1,600) per violation, or per day if violations are less frequent, plus criminal prosecution which could result in five years in prison and a fine of up to $250,000."
How do you prove they are a money transmitter?
Hope they don't keep Avalons in their office.

2.The news comes just days after Gox, suspended users from withdrawing their Bitcoins as US dollars for two weeks.

I see a coordinated attack. Though, they seem to have the wrong target in the case of the foundaton.

Note that that is from May 30th so it isn't a coordinated attack, but I wonder why the foundation might not have mentioned it sooner?

When I get a baseless horseshit letter like that (and I've had a few over the years) I generally ignore it.

Its About Sharing

legendary

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Antifragile

Quote from: rezurect on June 24, 2013, 06:44:29 AM

1.The Cease & Desist

"f found guilty, the conference organiser for Bitcoin, the decentralised digital currency, could face fines of $1,000 - $2,500 (£650 - £1,600) per violation, or per day if violations are less frequent, plus criminal prosecution which could result in five years in prison and a fine of up to $250,000."
How do you prove they are a money transmitter?
Hope they don't keep Avalons in their office.

2.The news comes just days after Gox, suspended users from withdrawing their Bitcoins as US dollars for two weeks.

I see a coordinated attack. Though, they seem to have the wrong target in the case of the foundaton.

Note that that is from May 30th so it isn't a coordinated attack, but I wonder why the foundation might not have mentioned it sooner?

N12

donator

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BTCe 96.5
Bitstamp 98.11
MtGox 103.0011

Bitstamp and BTCe lead, MtGox follows!

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: Miz4r on June 24, 2013, 06:29:35 AM

Quote from: Its About Sharing on June 24, 2013, 06:11:59 AM

Quote from: Miz4r on June 24, 2013, 05:29:56 AM

I think since the cash out problems at Mt Gox Bitstamp immediately anticipated Gox coins coming over again to cash out and so the price went back to the latest strong support level there. I think all the movement we're seeing now is uncertainty because of these problems, the price will probably hover between 98-110 with very low volume until the two week period is over. Then depending on how the issue is resolved we'll either see a sell off to test support at 90 or we're going back to test the 115 high.

We've gone down from roughly $130 since the beginning of this month. To say that the recent down trend is just about the Gox issue is ignoring a larger picture. I don't deny that Gox's slip up contributed to the recent down move, but it isn't really a big deal though it adds uncertainty to the already uncertain picture. Perhaps the recent down trend and the Gox thing cumulatively are responsible, but I'd say the larger of the two is the $30 down movement.

If we break and stay below $100, I think it will be clear that this is a part of the post bubble adjustment.

IAS

I never said that the downtrend that brought us down from 130 and formed a higher low at 88 was caused by this particular Gox issue. I however don't believe in the entire bubble deflation BS going on around here, although it could become a self-fulfilling prophecy if the issues at Gox are not resolved with a positive outcome. If Gox would have had no problems with USD withdrawals and services like Dwolla would still work we would not be sitting around 100-110 right now, I am pretty sure of that.

I didn't say you did. I'm just talking about the recent 3 day down trend that started with the Gox news.
It is a valide perspective about the bubble. I'm a strong bull and don't see it as BS. I didn't like it, but I have to accept that it is starting to look like it from a TA perspective. If I am wrong I will lose a bit of $$$ getting back in but that is the cost. I wasn't even a speculator (I had a BTC paper wallet only, no trading) and just got out after $130 didn't hold.

I don't doubt we would be sitting near 110. (We are still above 100 so all is not lost).

samson

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Quote from: Dalib on June 24, 2013, 06:55:03 AM

It seems that the next 2-3 weeks will be decisive for the next trend...

it is difficult to predict whether the downward trend breaks and where Embarrassed

I think it's quite obvious where we're heading : into the crash zone.

$20-$30 Bitcoins here we come.

N12

donator

Activity: 1610

Merit: 1010

I thought Coinsetter isn't a standalone exchange? As I understood it, they're just a trading platform and hedging on other exchanges, like Bitcoinica was.

By the way, when Bitcoinica came up I believe in September 2011 and offered shorting, it only served to strengthen the downtrend's severity, leading to an epic short squeeze from $2.

Rampion

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weeeeeeeeee

double digits knock knock knocking at Gox's door

Dalib

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A Top Web 3 Gaming Layer2 Provider

It seems that the next 2-3 weeks will be decisive for the next trend...

it is difficult to predict whether the downward trend breaks and where Embarrassed

rezurect

sr. member

Activity: 686

Merit: 250

1.The Cease & Desist

"f found guilty, the conference organiser for Bitcoin, the decentralised digital currency, could face fines of $1,000 - $2,500 (£650 - £1,600) per violation, or per day if violations are less frequent, plus criminal prosecution which could result in five years in prison and a fine of up to $250,000."
How do you prove they are a money transmitter?
Hope they don't keep Avalons in their office.

2.The news comes just days after Gox, suspended users from withdrawing their Bitcoins as US dollars for two weeks.

I see a coordinated attack. Though, they seem to have the wrong target in the case of the foundaton.

Miz4r

legendary

Activity: 1246

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Quote from: Its About Sharing on June 24, 2013, 06:11:59 AM

Quote from: Miz4r on June 24, 2013, 05:29:56 AM

I think since the cash out problems at Mt Gox Bitstamp immediately anticipated Gox coins coming over again to cash out and so the price went back to the latest strong support level there. I think all the movement we're seeing now is uncertainty because of these problems, the price will probably hover between 98-110 with very low volume until the two week period is over. Then depending on how the issue is resolved we'll either see a sell off to test support at 90 or we're going back to test the 115 high.

We've gone down from roughly $130 since the beginning of this month. To say that the recent down trend is just about the Gox issue is ignoring a larger picture. I don't deny that Gox's slip up contributed to the recent down move, but it isn't really a big deal though it adds uncertainty to the already uncertain picture. Perhaps the recent down trend and the Gox thing cumulatively are responsible, but I'd say the larger of the two is the $30 down movement.

If we break and stay below $100, I think it will be clear that this is a part of the post bubble adjustment.

IAS

I never said that the downtrend that brought us down from 130 and formed a higher low at 88 was caused by this particular Gox issue. I however don't believe in the entire bubble deflation BS going on around here, although it could become a self-fulfilling prophecy if the issues at Gox are not resolved with a positive outcome. If Gox would have had no problems with USD withdrawals and services like Dwolla would still work we would not be sitting around 100-110 right now, I am pretty sure of that.

Its About Sharing

legendary

Activity: 1442

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Antifragile

Quote from: Miz4r on June 24, 2013, 05:29:56 AM

I think since the cash out problems at Mt Gox Bitstamp immediately anticipated Gox coins coming over again to cash out and so the price went back to the latest strong support level there. I think all the movement we're seeing now is uncertainty because of these problems, the price will probably hover between 98-110 with very low volume until the two week period is over. Then depending on how the issue is resolved we'll either see a sell off to test support at 90 or we're going back to test the 115 high.

We've gone down from roughly $130 since the beginning of this month. To say that the recent down trend is just about the Gox issue is ignoring a larger picture. I don't deny that Gox's slip up contributed to the recent down move, but it isn't really a big deal though it adds uncertainty to the already uncertain picture. Perhaps the recent down trend and the Gox thing cumulatively are responsible, but I'd say the larger of the two is the $30 down movement.

If we break and stay below $100, I think it will be clear that this is a part of the post bubble adjustment.

IAS

Jaroslaw

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supernode

im thinking i will bleed out bitcoins rather than one click market order

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Voodah

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Quote from: Miz4r on June 24, 2013, 05:29:56 AM

I think since the cash out problems at Mt Gox Bitstamp immediately anticipated Gox coins coming over again to cash out and so the price went back to the latest strong support level there. I think all the movement we're seeing now is uncertainty because of these problems, the price will probably hover between 98-110 with very low volume until the two week period is over. Then depending on how the issue is resolved we'll either see a sell off to test support at 90 or we're going back to test the 115 high.

Let's hope it really is a "two week" period..

Miz4r

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I think since the cash out problems at Mt Gox Bitstamp immediately anticipated Gox coins coming over again to cash out and so the price went back to the latest strong support level there. I think all the movement we're seeing now is uncertainty because of these problems, the price will probably hover between 98-110 with very low volume until the two week period is over. Then depending on how the issue is resolved we'll either see a sell off to test support at 90 or we're going back to test the 115 high.

ft73

hero member

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Quote from: Its About Sharing on June 24, 2013, 05:19:56 AM

voodah and f73,

Yes, there is support at 100. All support has a huge psychological component but 100 is a bit key (3 digits vs 2).
Looking at how things have been lately, I just don't see it holding mid term. I have the feeling that we are in a short - mid
term bear market (really a correction from the huge up move we made but it will take time to work itself out.)

Anything can happen though - some banks collapsing, another war, stock market collapse, etc. and BTC goes on the run again.
But from a technical perspective, it is down we go imo.

I would not overestimate the 100$ psychological bar. There's quite some true resistance from 100$ to 80$, we've seen that.
Anything is possible. For instance i would not exclude a third (growing) low within 90$-100$ range.

EDIT: back to 105$ again. 100$-105$ may become a profitable channel.

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: Voodah on June 24, 2013, 05:22:52 AM

Quote from: Its About Sharing on June 24, 2013, 05:19:56 AM

voodah and f73,

Yes, there is support at 100. All support has a huge psychological component but 100 is a bit key (3 digits vs 2).
Looking at how things have been lately, I just don't see it holding mid term. I have the feeling that we are in a short - mid
term bear market (really a correction from the huge up move we made but it will take time to work itself out.)

Anything can happen though - some banks collapsing, another war, stock market collapse, etc. and BTC goes on the run again.
But from a technical perspective, it is down we go imo.

Yup, it looks bleaker every day. I agree.

I should note, like most around here, I am a HUGE BTC Bull. But I can't say the recent trend is bullish. I even got out of my LTC position this morning as it hit my mental stop and after having more thoughts on where BTC is going and the two being too tied together, it just didn't make sense to hold LTC.

Depending on world events (and that is a huge IF), I say we are in a downward sideways channel through Summer and partly into fall or there abouts.

Voodah

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Quote from: Its About Sharing on June 24, 2013, 05:19:56 AM

voodah and f73,

Yes, there is support at 100. All support has a huge psychological component but 100 is a bit key (3 digits vs 2).
Looking at how things have been lately, I just don't see it holding mid term. I have the feeling that we are in a short - mid
term bear market (really a correction from the huge up move we made but it will take time to work itself out.)

Anything can happen though - some banks collapsing, another war, stock market collapse, etc. and BTC goes on the run again.
But from a technical perspective, it is down we go imo.

Yup, it looks bleaker every day. I agree.

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

voodah and f73,

Yes, there is support at 100. All support has a huge psychological component but 100 is a bit key (3 digits vs 2).
Looking at how things have been lately, I just don't see it holding mid term. I have the feeling that we are in a short - mid
term bear market (really a correction from the huge up move we made but it will take time to work itself out.)

Anything can happen though - some banks collapsing, another war, stock market collapse, etc. and BTC goes on the run again.
But from a technical perspective, it is down we go imo.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32865. (Read 26468242 times)