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

[Jozzaboy]

Anyone see another negative divergence? We are again having an up day on lower volume then the day before. That happened on the rise last week (and then we came down to current levels).

Careful careful here though, you never know when another move will happen. But that negative divergence is a warning sign, quite reliable...

While your TA may indicate so; I believe in the facts that there was no whale dump on the weekend so weak hands should be less shaky, we are undervalued compared to Chinese markets and that the 100 dollar wall has held well. Besides, MTGox advertised Bitcoin in the G8 summit. I'm feeling bullish.

[betaknight]

Anyone see another negative divergence? We are again having an up day on lower volume then the day before. That happened on the rise last week (and then we came down to current levels).

Careful careful here though, you never know when another move will happen. But that negative divergence is a warning sign, quite reliable...

The recent action below $100 a coin skews volume imo. Doing less volume after a sizeable gain (off the low of 88) might not be as ominous as it seems. The fundamentals of bitcoin keep chugging on positively, despite short-term trading noise.

[Frozenlock]

Besides, MTGox advertised Bitcoin in the G8 summit. I'm feeling bullish.

All those politicians will have nothing more to do than look up what a Bitcoin is, understand the underlying technology, and send all their fiat to the nearest exchange to buy bitcoins ASAP.

Seems legit. 

[Jozzaboy]

Besides, MTGox advertised Bitcoin in the G8 summit. I'm feeling bullish.

All those politicians will have nothing more to do than look up what a Bitcoin is, understand the underlying technology, and send all their fiat to the nearest exchange to buy bitcoins ASAP.

Seems legit. 

You never know man, I'm a great believer in the 'Butterfly effect'. The shortest discussion could start something really incredible.

[betaknight]

I've seen enough to pull the triggers, I'm now 100% leveraged long via btc.sx @ an avg of 100.6, with 4 days of funding left as cushion. Targets are in the 104-105.xx's and I'll cut losses if we see 98.xx's again.  

game on  

[fr33d0miz3r]

All those politicians will have nothing more to do than look up what a Bitcoin is, understand the underlying technology, and send all their fiat to the nearest exchange to buy bitcoins ASAP.

Seems legit.  

BTW, Russian government = Russian oligarchs. They have a lot of money and they want to keep their money safe and outside of Russia. And some of them are in G8 summit today.
And today they may be interested in Bitcoin.

[Jozzaboy]

I've seen enough to pull the triggers, I'm now 100% leveraged long via btc.sx @ an avg of 100.6, with 4 days of funding left as cushion. Targets are in the 104-105.xx's and I'll cut losses if we see 98.xx's again.  

game on  

Trading with leverage! "Man, I like your balls!"

[betaknight]

I've seen enough to pull the triggers, I'm now 100% leveraged long via btc.sx @ an avg of 100.6, with 4 days of funding left as cushion. Targets are in the 104-105.xx's and I'll cut losses if we see 98.xx's again.  

game on  

Trading with leverage! "Man, I like your balls!"

haha, just making a play. It is very top heavy at the ask right now, particularly between $102.0 and $102.5, but it looks more like a scare tactic aimed at drawing action to bids. Feels like big bag holders trying to stuff their bags even more by stocking up at $100

[fr33d0miz3r]

#include <oligarch.h>

void main() {

    int oil_pipe;
    unsigned long money;
    int offshore;

    oil_pipe = open("/dev/oil",O_RDONLY,0);
    offshore = open("/dev/cyprus",O_RDWR,0);

    if(offshore==-1) {

        offshore = open("/dev/bitcoin",O_RDWR,0);

    }


    while(1) {

      read(oil_pipe,&money,100000000);
      write(offshore,&money,100000000);

    }

}

[ChartBuddy]

[phoenix1]

I've seen enough to pull the triggers, I'm now 100% leveraged long via btc.sx @ an avg of 100.6, with 4 days of funding left as cushion. Targets are in the 104-105.xx's and I'll cut losses if we see 98.xx's again.  

game on  

Trading with leverage! "Man, I like your balls!"

Is there another way to trade ? 

[Jozzaboy]

I've seen enough to pull the triggers, I'm now 100% leveraged long via btc.sx @ an avg of 100.6, with 4 days of funding left as cushion. Targets are in the 104-105.xx's and I'll cut losses if we see 98.xx's again.  

game on  

Trading with leverage! "Man, I like your balls!"

Is there another way to trade ? 

Yeah, the 'All in!'. You don't need that car, savings account, alcohol, retirement account... do you? 

[Odalv]

I've seen enough to pull the triggers, I'm now 100% leveraged long via btc.sx @ an avg of 100.6, with 4 days of funding left as cushion. Targets are in the 104-105.xx's and I'll cut losses if we see 98.xx's again.  

game on  

Trading with leverage! "Man, I like your balls!"

Is there another way to trade ? 

It would be interesting for whales to pump/dump on MtGox  and leverage at http://www.plus500.com/Instruments/BTCUSD  4:1
1. go short CFD at plus500
2. dump at gox
3. take 4x more profit at plus500
4. go long at plus500
5. pump gox
6. take 4x bigger profit at plus500

[betaknight]

I've seen enough to pull the triggers, I'm now 100% leveraged long via btc.sx @ an avg of 100.6, with 4 days of funding left as cushion. Targets are in the 104-105.xx's and I'll cut losses if we see 98.xx's again.  

game on  

Trading with leverage! "Man, I like your balls!"

Is there another way to trade ? 

Yeah, the 'All in!'. You don't need that car, savings account, alcohol, retirement account... do you? 

haha, "all in" with regards to what I can afford to lose and not have quality of life affected  

[betaknight]

I've seen enough to pull the triggers, I'm now 100% leveraged long via btc.sx @ an avg of 100.6, with 4 days of funding left as cushion. Targets are in the 104-105.xx's and I'll cut losses if we see 98.xx's again.  

game on  

Trading with leverage! "Man, I like your balls!"

Is there another way to trade ? 

It would be interesting for whales to pump/dump on MtGox  and leverage at http://www.plus500.com/Instruments/BTCUSD  4:1
1. go short CFD at plus500
2. dump at gox
3. take 4x more profit at plus500
4. go long at plus500
5. pump gox
6. take 4x bigger profit at plus500

can get 100:1 at other shops like btc.sx, but slippage and spreads are still an issue.

[Odalv]

I've seen enough to pull the triggers, I'm now 100% leveraged long via btc.sx @ an avg of 100.6, with 4 days of funding left as cushion. Targets are in the 104-105.xx's and I'll cut losses if we see 98.xx's again.  

game on  

Trading with leverage! "Man, I like your balls!"

Is there another way to trade ?  

It would be interesting for whales to pump/dump on MtGox  and leverage at http://www.plus500.com/Instruments/BTCUSD  4:1
1. go short CFD at plus500
2. dump at gox
3. take 4x more profit at plus500
4. go long at plus500
5. pump gox
6. take 4x bigger profit at plus500

can get 100:1 at other shops like btc.sx, but slippage and spreads are still an issue.

At plus500 you do not need bitcoin (CFD) ... you sell bitcoins only virtualy (in reality no one is sold .. price at gox is same)

[phoenix1]

Not necessarily true ... depends on the net position that Plus500 hold, how much risk they take on their book and how much they hedge on Gox or other exchanges if they are net short. Not sure how they deal with net long unless they are able to borrow BTC to short.

EDIT : As for the leveraged pump or dump strategy, I doubt you would be able to take a big enough position with them for this to work

[Chainsaw]

I've seen enough to pull the triggers, I'm now 100% leveraged long via btc.sx @ an avg of 100.6, with 4 days of funding left as cushion. Targets are in the 104-105.xx's and I'll cut losses if we see 98.xx's again.  

game on  

Trading with leverage! "Man, I like your balls!"

Is there another way to trade ?  

It would be interesting for whales to pump/dump on MtGox  and leverage at http://www.plus500.com/Instruments/BTCUSD  4:1
1. go short CFD at plus500
2. dump at gox
3. take 4x more profit at plus500
4. go long at plus500
5. pump gox
6. take 4x bigger profit at plus500

can get 100:1 at other shops like btc.sx, but slippage and spreads are still an issue.

At plus500 you do not need bitcoin (CFD) ... you sell bitcoins only virtualy (in reality no one is sold .. price at gox is same)

...that's exactly what makes it profitable, and a great example of what will cause the exponential price increase, once the risk/reward balance gets high enough.

An investor makes a bet, then moves the market to make their trade succeed.
This works beautifully until a second, contrarian investor gets the same idea.

...except once someone with that much money gets to this point in the thought process, they're not making that bet.
Quite simply, they're too exposed.  Smart money looks for its hedge.

I think far more likely, anyone making high-dollar contract-for-difference bets will also have bitcoins on a market, in order to move into/out of fiat alongside such positions.

[Odalv]

Not necessarily true ... depends on the net position that Plus500 hold, how much risk they take on their book and how much they hedge on Gox or other exchanges if they are net short. Not sure how they deal with net long unless they are able to borrow BTC to short.

I think their business model has error :-). They do not buy or sell bitcoins. You cannot buy/sell bitcoin at plus500 ... only make CFD.

edit: you can after CFD manipulate price easy (if you have enough resources)
edit2: even use leverage 4:1

[samson]

Not necessarily true ... depends on the net position that Plus500 hold, how much risk they take on their book and how much they hedge on Gox or other exchanges if they are net short. Not sure how they deal with net long unless they are able to borrow BTC to short.

I think their business model has error :-). They do not buy or sell bitcoins. You cannot buy/sell bitcoin at plus500 ... only make CFD.

edit: you can after CFD manipulate price easy (if you have enough resources)

It's a pity they don't allow people to fund their accounts directly with Bitcoin. I think they would get a lot of new customers doing this.