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

[YogoH]

damn china!

I know. What was that?

China, decided to squeeze all those new shorts.

[ChartBuddy]

Explanation

[YogoH]

Nice buy wall on stamp to compliment china's momentum.  Whats with all these middle of the night movements lately?

[dropt]

Nice buy wall on stamp to compliment china's momentum.  Whats with all these middle of the night movements lately?

It's not the middle of the night everywhere   

[Davyd05]

Nice buy wall on stamp to compliment china's momentum.  Whats with all these middle of the night movements lately?

It's not the middle of the night everywhere   

I just want to see a legit short squeeze
I want to see them burnnnnnnnnnnnnnnnnnnn

[YogoH]

Nice buy wall on stamp to compliment china's momentum.  Whats with all these middle of the night movements lately?

It's not the middle of the night everywhere   

I just want to see a legit short squeeze
I want to see them burnnnnnnnnnnnnnnnnnnn

I think that is how bitcoin works. It moves the direction of most pain.

[redsn0w]

So for halloween do you think that the price of bitcoin will raise over $ 400? I hope this it will happen  .

[dropt]

Nice buy wall on stamp to compliment china's momentum.  Whats with all these middle of the night movements lately?

It's not the middle of the night everywhere   

I just want to see a legit short squeeze
I want to see them burnnnnnnnnnnnnnnnnnnn

Me too  , I've been waiting awhile.

[N12]

Wow, shorts have gone insane shorting on the way up:

Total sum of active swaps
16,281.89 BTC

Good strategy! Keep shorting into the uptrend!

[janos666]

Wow, shorts have gone insane shorting on the way up:

Total sum of active swaps
16,281.89 BTC

Good strategy! Keep shorting into the uptrend!

Do you say the long term trend just turned around again? How many times did it turn around this month? I lost the count.

[N12]

Wow, shorts have gone insane shorting on the way up:

Total sum of active swaps
16,281.89 BTC

Good strategy! Keep shorting into the uptrend!

Do you say the long term trend just turned around again? How many times did it turn around this month? I lost the count.

Did you know that there can be trends on multiple timeframes?

Only thing I'm relatively sure about is that it will be difficult to take out the 275 low given the circumstances how it happened. Extreme volume not seen in half a year, and a large candle wick. People shorting now must be ultra alert to cut their loose at the first indication things aren't going in favor of them.

[janos666]

Wow, shorts have gone insane shorting on the way up:

Total sum of active swaps
16,281.89 BTC

Good strategy! Keep shorting into the uptrend!

Do you say the long term trend just turned around again? How many times did it turn around this month? I lost the count.

Did you know that there can be trends on multiple timeframes?

But still. If the yearly trend is sharply negative then you have better chances by opening short positions during daily mini-pumps than opening long positions, well, like ever but definitely when those mini-pumps are already in effect.

[N12]

I forgot that I talked about this before ~12h ago, with you. Did you forget too?

Short squeeze soon at Bitfinex as the price is nearing the ask wall of that ~2k BTC short. Actually, I'm not sure it's even there anymore. Cancelled?

Shorts increased another 2k or so: 13,458.12 BTC

Great strategy, guys! Short on the way up!

What else are you supposed to do? Buy at the top and sell at the bottom? That's a nice strategy for sure. You can't really get anything wrong, you just do what everybody else seems to be doing at the time.

When price moves against you, you normally cut your loose, not average your loose down (or up, in this case). The way to trade is PRO trend.

This doesn't apply to special circumstances with extreme spikes on high volume.

[Mervyn_Pumpkinhead]

"We're in a upwards trend. It doesn't matter that selling pressure exceeds buying pressure and the price is going down. The market and the price are just too stupid to realize that we're in a trend reversal!"

[N12]

"We're in a downwards trend. It doesn't matter that buying pressure exceeded 30k BTC of selling pressure at 300 and the price is going up. The market and the price are just too stupid to realize that we're not in a trend reversal!"

 

It really is funny. I've been insulted/made fun of for my bearishness since the bubble popped at the end of 2013. Being bearish used to be the contrarian position. Nowadays, being bullish is the contrarian play, just look how people will continuously attack you for stating relatively reasonable positions (that the conditions under which 275 has happened may not repeat again).

[8up]

"We're in a downwards trend. It doesn't matter that buying pressure exceeded 30k BTC of selling pressure at 300 and the price is going up. The market and the price are just too stupid to realize that we're not in a trend reversal!"

 

It really is funny. I've been insulted/made fun of for my bearishness since the bubble popped at the end of 2013. Being bearish used to be the contrarian position. Nowadays, being bullish is the contrarian play, just look how people will continuously attack you for stating relatively reasonable positions (that the conditions under which 275 has happened may not repeat again).

Blitz, I like your calmness.

+1

[gizmoh]

"We're in a upwards trend. It doesn't matter that selling pressure exceeds buying pressure and the price is going down. The market and the price are just too stupid to realize that we're in a trend reversal!"

Stars are aligned for Bear trend to end Soon^Tm

Awaiting Double Top of DOW

[mmitech]

"We're in a downwards trend. It doesn't matter that buying pressure exceeded 30k BTC of selling pressure at 300 and the price is going up. The market and the price are just too stupid to realize that we're not in a trend reversal!"

 

It really is funny. I've been insulted/made fun of for my bearishness since the bubble popped at the end of 2013. Being bearish used to be the contrarian position. Nowadays, being bullish is the contrarian play, just look how people will continuously attack you for stating relatively reasonable positions (that the conditions under which 275 has happened may not repeat again).

Blitz, charts don't tend to agree with you... so I think we are still going down, we go up $10 and you all get excited and start posting train pictures, then we go $20 down and you start trashing bears....same is  happening since $417 (the top since the $275).

[ChartBuddy]

Explanation

[Mervyn_Pumpkinhead]

"We're in a downwards trend. It doesn't matter that buying pressure exceeded 30k BTC of selling pressure at 300 and the price is going up. The market and the price are just too stupid to realize that we're not in a trend reversal!"

 

It really is funny. I've been insulted/made fun of for my bearishness since the bubble popped at the end of 2013. Being bearish used to be the contrarian position. Nowadays, being bullish is the contrarian play, just look how people will continuously attack you for stating relatively reasonable positions (that the conditions under which 275 has happened may not repeat again).

When the price is slowly going down with low volume, and then out of nowhere, someone spikes the volume with a 30k purchase, after what there will be a short rally upwards, and then again the slow downfall will continue. Then let's just say, that I'm not overly optimistic about the situation.
If I would be someone who owns several hundred thousand bitcoins, and several million dollars, then I would put up a sell wall like that, so I could buy it myself, and by that, try to stimulate the market just enough to get the value of my coins to rise again. I would be disappointed though, if it wouldn't cause a rise that could be considered very high and soon the situation would be like it was before my little shenanigan.

Bulls are far from being the minority here. They are still the strong majority, with those who have bought at 800$+ are only now getting some doubt next to their highly optimistic hopes. Repeating rants about bitcoin being a scam and how bitcoin stole all of their life savings have yet to come.