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

[ChartBuddy]

Explanation

[fonzie]

For those who are unfamiliar with technical analysis, the pattern that has developed over the last 5 hours (on OkCoin, 1minute chart) is called "Funnel With Right Inverted Notch, Half Of A Pasta Roller, Teaspoon Without Handle And Hand With Fingers Chopped Off By The Food Processor." It means that the wonton soup did not go down well and the price may surprise everybody, e.g. by failing to surprise. 

 

[JayJuanGee]

For those who are unfamiliar with technical analysis, the pattern that has developed over the last 5 hours (on OkCoin, 1minute chart) is called "Funnel With Right Inverted Notch, Half Of A Pasta Roller, Teaspoon Without Handle And Hand With Fingers Chopped Off By The Food Processor." It means that the wonton soup did not go down well and the price may surprise everybody, e.g. by failing to surprise. 

NOW ur talking!!!!   

[Mulder]

The myth of "fake volume" is commonly repeated because it helps hide the unpleasant fact that the price is sustained at the current levels only by the Chinese traders, and its future is entirely at their mercy.  Obviously, that fact would make bitcoin-backed funds very hard to sell. 

You get the idea. That is why OKCoin and Huobi must be declared irrelevant and omitted from any statistics.

I'm not sure what your trying to say here.  But I think the Chinese exchanges don't really represent new money.  If there are trades going on then I think it's just trading the same coins back and forth and selling mined coins.  
I looked into the add funds section of these sites and there seem to be very few people selling coins for rmb.  A few months ago there were dozens of people acting as agents to sell coins and even people selling on TaoBao but now there are only a couple of sellers so I don't think there's really a lot of new money coming in from China.

[Octavius]

I've sold because it looks very similar...

[windjc]

I've sold because it looks very similar...

Meh. Its a little similar. We are going to go down for a while longer. However, we are close to the bottom - probably less than $60 away from it.

[flynn]

I've sold because it looks very similar...

Hmm, I wouldn't before support@560 is broken.

[ChartBuddy]

Explanation

[ejinte]

I've sold because it looks very similar...

It does not look similar

[Marbit]

So this whale on Huobi.

This is the third time he bought many thousands of coins to defend 3600 CNY. Assuming he doesn't turn around and sell them right away (unlikely one would take such a large position and immediately panic sell at a loss, right?), that's gotta make a real dent in sell pressure, don't ya think?

[Searing]

So this whale on Huobi.

This is the third time he bought many thousands of coins to defend 3600 CNY. Assuming he doesn't turn around and sell them right away (unlikely one would take such a large position and immediately panic sell at a loss, right?), that's gotta make a real dent in sell pressure, don't ya think?

sigh you lost me trying to wrap my head around THIRD TIME 'So this whale on Huobi.......third time...he bought many thousands of coins...) gasp ack!

makes me dizzy just thinking about that.....(gotta sit down...too much of a perspective shift..thousands of coins...) ack!

Searing

[fonzie]

Haven´t you all read the newspaper article where GABI stated that they are buying on HUOBI right now? Someone posted it in here yesterday!

[findftp]

I've sold because it looks very similar...

I might have bought your coins, because it looks very similar.... Thanks!

[windjc]

Haven´t you all read the newspaper article where GABI stated that they are buying on HUOBI right now? Someone posted it in here yesterday!

For some reason your pumping isnt nearly as effective as your trolling.

[JayJuanGee]

I've sold because it looks very similar...

I might have bought your coins, because it looks very similar.... Thanks!

Agree!!!!!   Seems more like a time to be buying or hodling rather than selling.  Some of you guys who are selling are taking a pretty high risk that you are going to be squeezed when the train leaves.

I cannot see $520 in the near future; however, I do see a possibility of $560 as a retest....

[fonzie]

Haven´t you all read the newspaper article where GABI stated that they are buying on HUOBI right now? Someone posted it in here yesterday!

For some reason your pumping isnt nearly as effective as your trolling.

I know, it´s also only 10% the fun of bearish FUD trolling. I think i´m not really good at it, i´m probably not designed to spread positive energy.   

[JayJuanGee]

Haven´t you all read the newspaper article where GABI stated that they are buying on HUOBI right now? Someone posted it in here yesterday!

For some reason your pumping isnt nearly as effective as your trolling.

I know, it´s also only 10% the fun of bearish FUD trolling. I think i´m not really good at it, i´m probably not designed to spread positive energy.   

Yeah.....  your innate talents seem to be in shit-stirring. 

[fonzie]

I guess that´s the result of listening to Black/Death Metal , Harsh Noise and Drone for 30 years  combined with taking drugs for 20 years.  

Nonetheless i remain bullish.
BTC - THE FUTURE OF MONEY!!!

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation