Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32995.

Dalib

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Quote from: Dalib on June 28, 2013, 03:50:58 AM

Quote from: Rampion on June 28, 2013, 03:40:38 AM

Did you guys realized that there are only $511k in Bitstamp's order book?

When the exodus of coins from MtGox started after the Dwolla situation, many in here said that fiat was following too, but that it would have taken time as it slower to move. Well, absolute maximum fiat on Bitstamp after Dwolla was $1.1m, and now is less than half of it. Fiat is really leaving Bitcoin for good, as expected.

To give a little bit of context, the ratio between fiat on Bitstamp and Gox has consistently been 1:20. When we had $1M on Bitstamp, we had aprox. $20M on Gox. Now we have $511k on Bitstamp and $11M on Gox.

Gox is still the leading exchange for a reason. Expect a bear in which you will see much less "Bitcoin is a ponzi" talk compared to 2011, but a lot more "OMG the government thugs are coming after us, seizing all our money and eventually locking us up in Guantanamo".

Anyhow, the negative sentiment needs to be MUCH stronger in order to reach the real bottom, which I still hope it will be $50ish. I won't be surprised by $30-$50, I will be puzzled if we go below $30, and quite disappointed if we go below $20.

Anyhow, fasten your seat belts - its going to be a bumpy ride (gif expected, come on guys!)

Asks / bids on Bitstamp is really pessimistic...

Bitstamp last low from June 9 = 90.00, Bitstamp low now = 90.07 Angry

Its About Sharing

legendary

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Antifragile

Quote from: Voodah on June 28, 2013, 03:08:43 AM

Quote from: Its About Sharing on June 28, 2013, 02:45:04 AM

Quote from: Nightowlace on June 28, 2013, 12:09:00 AM

24 Hour bottom, any guesses?

Me-$89

Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...

Where do you see the larger support at 82?

When searching for support I look for past areas that we "hung out" at or bounced off of or closed/opened at AND I really search for volume IF the times were short (e.g. large drop).
So, 82 hits that mark. I stated what has been restated and it's worth saying again - be really careful of trying to catch a bounce as the bottom is probably not 82 (except short term, if that).

ChartBuddy

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Jaroslaw

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supernode

The olny thing that preventing price to drop is blocked transfers of USD on GOX. ALso in this time GOX can play users money to make price higher.

Dalib

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Quote from: Rampion on June 28, 2013, 03:40:38 AM

Did you guys realized that there are only $511k in Bitstamp's order book?

When the exodus of coins from MtGox started after the Dwolla situation, many in here said that fiat was following too, but that it would have taken time as it slower to move. Well, absolute maximum fiat on Bitstamp after Dwolla was $1.1m, and now is less than half of it. Fiat is really leaving Bitcoin for good, as expected.

To give a little bit of context, the ratio between fiat on Bitstamp and Gox has consistently been 1:20. When we had $1M on Bitstamp, we had aprox. $20M on Gox. Now we have $511k on Bitstamp and $11M on Gox.

Gox is still the leading exchange for a reason. Expect a bear in which you will see much less "Bitcoin is a ponzi" talk compared to 2011, but a lot more "OMG the government thugs are coming after us, seizing all our money and eventually locking us up in Guantanamo".

Anyhow, the negative sentiment needs to be MUCH stronger in order to reach the real bottom, which I still hope it will be $50ish. I won't be surprised by $30-$50, I will be puzzled if we go below $30, and quite disappointed if we go below $20.

Anyhow, fasten your seat belts - its going to be a bumpy ride (gif expected, come on guys!)

Asks / bids on Bitstamp is really pessimistic...

Rampion

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Quote from: gandhibt on June 28, 2013, 03:33:30 AM

Quote from: Rampion on June 28, 2013, 03:26:57 AM

Quote from: Voodah on June 28, 2013, 03:08:43 AM

Quote from: Its About Sharing on June 28, 2013, 02:45:04 AM

Quote from: Nightowlace on June 28, 2013, 12:09:00 AM

24 Hour bottom, any guesses?

Me-$89

Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...

Where do you see the larger support at 82?

Well its pretty clear that around $80ish we will have some real support. Expect a bounce around that level, but be careful with catching falling knives. Sooner or later we will fall below $80ish, the big question is "when" and after "how many bounces". Two months and a half passed after the April, 10th crash, and it looks very much like that the decline will be in fact longer than the 5-months bear we had in 2011. Honestly, I hope BrightAnarchist is not right predicting a multi-year bear market, that would be disheartening, and BTC is so small that just a few big players' moves can reverse the trend.

Based on this?

And to second bold: of course that's not true and you said it yourself, "few big players' moves can reverse the trend." That's far more likely outcome than a multi-year bear market... Are you just trying to create selling pressure with that statement?

First question: yep, based on that. Technicals say there will be support and thus a bounce at $80ish, traders will want to play that in a sort of self-fulfilling profecy, as usual.

Second question: I don't try to create anything with my statements, you need to be a delusional fool to think that a post on these forums can affect the price. I agree that a multi-year bear market feels unlikely, but the cold, technical truth is that it looks we are heading to that. Nevertheless, as I stated this is a very tiny market in which technicals are pretty much useless to predict mid and long term moves, you just need one big player throwing a few millions to the market to completely reverse the trend. Obviously that cannot be predicted, if it happens we will see it just after it happened Wink

Rampion

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Did you guys realized that there are only $511k in Bitstamp's order book?

When the exodus of coins from MtGox started after the Dwolla situation, many in here said that fiat was following too, but that it would have taken time as it slower to move. Well, absolute maximum fiat on Bitstamp after Dwolla was $1.1m, and now is less than half of it. Fiat is really leaving Bitcoin for good, as expected.

To give a little bit of context, the ratio between fiat on Bitstamp and Gox has consistently been 1:20. When we had $1M on Bitstamp, we had aprox. $20M on Gox. Now we have $511k on Bitstamp and $11M on Gox.

Gox is still the leading exchange for a reason. Expect a bear in which you will see much less "Bitcoin is a ponzi" talk compared to 2011, but a lot more "OMG the government thugs are coming after us, seizing all our money and eventually locking us up in Guantanamo".

Anyhow, the negative sentiment needs to be MUCH stronger in order to reach the real bottom, which I still hope it will be $50ish. I won't be surprised by $30-$50, I will be puzzled if we go below $30, and quite disappointed if we go below $20.

Anyhow, fasten your seat belts - its going to be a bumpy ride (gif expected, come on guys!)

Jaroslaw

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supernode

nice aelling in progress i will sell more btc for IRL Gold since i cant get cash out of mtgox

Dalib

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Quote from: dan99 on June 28, 2013, 03:33:20 AM

Are we meeting some price resistance? What does candlestick charts says? is they are going to have some see saw swing? is price going to taper off ? now is $97.4009

However, someone sells but someone is trying to catch (so far) the cheapest coins of today.

Only the next days (maybe hours) show further development.

gandhibt

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Quote from: Rampion on June 28, 2013, 03:26:57 AM

Quote from: Voodah on June 28, 2013, 03:08:43 AM

Quote from: Its About Sharing on June 28, 2013, 02:45:04 AM

Quote from: Nightowlace on June 28, 2013, 12:09:00 AM

24 Hour bottom, any guesses?

Me-$89

Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...

Where do you see the larger support at 82?

Well its pretty clear that around $80ish we will have some real support. Expect a bounce around that level, but be careful with catching falling knives. Sooner or later we will fall below $80ish, the big question is "when" and after "how many bounces". Two months and a half passed after the April, 10th crash, and it looks very much like that the decline will be in fact longer than the 5-months bear we had in 2011. Honestly, I hope BrightAnarchist is not right predicting a multi-year bear market, that would be disheartening, and BTC is so small that just a few big players' moves can reverse the trend.

Based on this?

And to second bold: of course that's not true and you said it yourself, "few big players' moves can reverse the trend." That's far more likely outcome than a multi-year bear market... Are you just trying to create selling pressure with that statement?

dan99

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Are we meeting some price resistance? What does candlestick charts says? is they are going to have some see saw swing? is price going to taper off ? now is $97.4009

Jaroslaw

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supernode

its time to this bubble blow up Cheesy

Dalib

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Bitstamp tests again 91 support ... Sad

Frozenlock

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I was also hoping for a quick bear market, but you damn bulls continued to try to push the price higher.

Now you'll have to deal with a long slide down. Angry

Rampion

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Quote from: Voodah on June 28, 2013, 03:08:43 AM

Quote from: Its About Sharing on June 28, 2013, 02:45:04 AM

Quote from: Nightowlace on June 28, 2013, 12:09:00 AM

24 Hour bottom, any guesses?

Me-$89

Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...

Where do you see the larger support at 82?

Well its pretty clear that around $80ish we will have some real support. Expect a bounce around that level, but be careful with catching falling knives. Sooner or later we will fall below $80ish, the big question is "when" and after "how many bounces". Two months and a half passed after the April, 10th crash, and it looks very much like that the decline will be in fact longer than the 5-months bear we had in 2011. Honestly, I hope BrightAnarchist is not right predicting a multi-year bear market, that would be disheartening, and BTC is so small that just a few big players' moves can reverse the trend.

Voodah

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Activity: 266

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Quote from: Its About Sharing on June 28, 2013, 02:45:04 AM

Quote from: Nightowlace on June 28, 2013, 12:09:00 AM

24 Hour bottom, any guesses?

Me-$89

Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...

Where do you see the larger support at 82?

ChartBuddy

legendary

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Its About Sharing

legendary

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Antifragile

Quote from: Nightowlace on June 28, 2013, 12:09:00 AM

24 Hour bottom, any guesses?

Me-$89

Around that, say $93. The larger support is around 82 though. Be careful at that 90 level, it can fall through it...

Its About Sharing

legendary

Activity: 1442

Merit: 1000

Antifragile

Quote from: derpinheimer on June 28, 2013, 12:30:55 AM

WB 98 97 96.

Currently 1k of asks to get above 100..

Interesting.. for the sell that brought us from 98 to 96.2, it would take just as many coins sold now to bring us back there [~1.5k]

Bids filled in quick.

The asks take time to fill in. It is now up to 2400...

barbs

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Quote from: TheKoziTwo on June 27, 2013, 08:39:23 PM

Let's just have $50 already so frozenblock can stop cheering everytime we go down. Cry

For real. His emoticons and avatar don't make it better.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32995. (Read 26498079 times)