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

[billyjoeallen]

where is Adam BTW ? I didn't seem him around for days now.

I've been thinking the same.

Where is the OP?

My guess is he lost his ass making bad trades. Turned bear at the worst possible moment. Maybe that's just the mood I'm in.

[Erdogan]

Wedge closing in Huobi just about now. It's a game of musical chairs and the music is stopping. Short or long?

Given that we are now in a long-term uptrend (since Thursday last, untill August next), your default should always be long.  Use it unless the counterpoint case is deeply compelling. I am at 100 on a scale of -100 to 250.

It's way too early to say that with confidence. Yes, long term uptrends have to start somewhere, but a week isn't long term anything.

If there is anything I am good at, it is saying things too early with confidence.

Isn't that funny. You figure out something, and you immediately think that the rest of the world is just as smart! But no, they are normally far behind. 

[seleme]

where is Adam BTW ? I didn't seem him around for days now.

I've been thinking the same.

Where is the OP?

My guess is he lost his ass making bad trades. Turned bear at the worst possible moment. Maybe that's just the mood I'm in.

Adam? Never.

[ShroomsKit]

Seriously, we are going down because of another China rumour? This is a joke right?

Bitcoin traders are some of the most retarded people on the planet. I have a picture in my head of them sitting at a Fisher Price toy hitting the different colours with a plastic hammer to buy and sell Bitcoin.

Can't be far from the truth.

[mmitech]

each time Bitcoin price starts going up an article like that one popup, I find it really fishy, and fuck this shit, I am not trading this and I will be holding to my coins.....

good luck and see you in a couple of months.

[marcus_of_augustus]

This is a total joke. Also been watching from the sidelines and not buying into this. China is destroying bitcoin.

No they are not ... they are innoculating it against manipulation and rumour mongering ... that last little "ban" is at most good for a pullback to test the break-out. Diminishing returns.

The next country that talks incessantly about "banning bitcoin" will just be shrugged off or laughed at. China is after all the largest authoritarian govt. in the world, if they can't stop bitcoin then no-one can.

[zby]

There was a wedge in Huobi - it broke down in a classic way.

[yrtrnc]

http://finance.cankaoxiaoxi.com/2014/0416/376044.shtml

Just read this!

Whadfukisgoinonagain?

[podyx]

putting my bid orders at 440

[ShroomsKit_Disgrace]

Is this the "healthy" correction we expected or is this another stupid panic-ban-china FUD?

[koryu]

some people take profit after it has gone up 50% but we are are still in the uptrend channel. dont panic.

[darklight]

each time Bitcoin price starts going up an article like that one popup, I find it really fishy, and fuck this shit, I am not trading this and I will be holding to my coins.....

good luck and see you in a couple of months.

Yeah, the timing is very suspicious. Some of this stuff has been coming out in the middle of the night over there.

Maybe the government are just trying to reinforce their point - "see we told you it was volatile and it would cost you money, come back to our banks where you are nice and safe"

[gizmoh]

Kudos to myself for being spot on    Pboc story ain't finished until exchanges are closed or delocalized

Look at that long Red wick on Huobi.. Chinese says Fuck u white boy!

Usually when the wick is that long, expect bad chinese news later on..

We are at the mercy of chinese traders. They get the news firsthand and sets the Trend, some bots that follows CNY movements eats part of the cake.
That is why pricing has been unpredictable for westerners. And I am totally uncomfortable with that. Until Huobi/okcoin gets shut down by PBOC or move out of china, I'm keeping my Fiat out of this gamble.

I believe we've just hit the top.

There was a lot of struggle in that pump

I agree, this current pump has no follow through. Soon it'l retrace back to 500, afterwards  sub 460 to test some support.
This rally will end soon as it cannot be sustained by enough bids (less than $11 million bids) and has been fueled mainly by china and previous sellers who believes 340 as bottom and getting back in. To summarize, bitcoiners have short memory about the situation with pboc and is currently blinded by 'fear' of missing the fantomatic moon train.

[windjc]

So much for that trend line breakout.

[dreamspark]

Kudos to myself for being spot on    Pboc story ain't finished

Look at that long Red wick on Huobi.. Chinese says Fuck u white boy!

Usually when the wick is that long, expect bad chinese news later on..

We are at the mercy of chinese traders. They get the news firsthand and sets the Trend, some bots that follows CNY movements eats part of the cake.
That is why pricing has been unpredictable for westerners. And I am totally uncomfortable with that. Until Huobi/okcoin gets shut down by PBOC or move out of china, I'm keeping my Fiat out of this gamble.

I believe we've just hit the top.

There was a lot of struggle in that pump

I agree, this current pump has no follow through. Soon it'l retrace back to 500, afterwards  sub 460 to test some support.
This rally will end soon as it cannot be sustained by enough bids (less than $11 million bids) and has been fueled mainly by china and previous sellers who believes 340 as bottom and getting back in. To summarize, bitcoiners have short memory about the situation with pboc and is currently blinded by 'fear' of missing the fantomatic moon train.

You should wait before patting yourself on the back we havent even retraced to $500...

[p0peji]

If we break 3200 this is going to be fun.

[seleme]

Wake me up when China is out of Bitcoin blood system. Till then I'll keep any dollar I could put my hands on.

[p0peji]

Wake me up when China is out of Bitcoin blood system. Till then I'll keep any dollar I could put my hands on.

Dollar would have my preference too.

[Hypnoise]

Wedge closing in Huobi just about now. It's a game of musical chairs and the music is stopping. Short or long?

buy&wait

That is what I would do if I could monitor the situation closely and if I was using Stamp. Unfortunately I'm at work and can't monitor the situation closely... so I feel it is a bit risky to buy right now.

People talk a lot about new money coming into the system. These new money will buy at a high price and they help to push the price up for a day. But at the end of the day people take their profits, because nightly drops have been so frequent over the past months. Holding might be a good strategy if you bought at $100, but at this stage it is not a good strategy not for newcomers. Things are looking up though, but it will take some time before people get more confident. I wish China was more transparent. The events last night around 1 am GMT (I think) shows how fragile the situation is imo.

trading on stamp more easy compare to btce, I sold at 530 and will buy back at around 500 - 510. there is always some opportunities.

during down trend it is sale&wait
during up trend is is buy&wait

[gizmoh]

The correction has only started. give it a few hours, Ask will start to pile in as they realize that this rally is done.