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

[inca]

Next few hours will determine whether a bear trap or not

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[Bassica]

Didn't watch the price the last 3days. What's going on?  

My guess: many traders heard "three billion hedge fund will be trading on OKkoins platform" and understood that it would be trading bitcoin. So they bought like crazy, expecting the price to go to the moon when the fund would start buying.  But the rumor was not confirmed, and people are now doubting it  So the traders are all selling like crazy, to cut their losses while they can.

But perhaps there will be another good rumor tomorrow, who knows.

What do you think about the BIT purchases 7.8k a couple of days ago, and recently 6k (btc).

[prophetx]

the next hour is critical to the future of Bitcoin

[ask]

Just sold 800 BTC on Bitfinex.

50K profit?

Much more.  About 90k

Hi guys. I am back. Someone was buying...

[Sitting Bull]

http://blogs.sevilla.abc.es/desdeeltendido2/files/2009/08/rodeo-bull-riding-300x291.jpg

[macsga]

Just sold 800 BTC on Bitfinex.

50K profit?

Much more.  About 90k

Hi guys. I am back. Someone was buying...

Someone still does!

[Wandererfromthenorth]

My only advice is to avoid trying to be clever with margin trading right now (especially the 10X and 20X leverage on OKCoin), you will get REKT if you don't.

[podyx]

My only advice is to avoid trying to be clever with margin trading right now (especially the 10X and 20X leverage on OKCoin), you will get REKT if you don't.

You think we'll go down again?

[inca]

My only advice is to avoid trying to be clever with margin trading right now (especially the 10X and 20X leverage on OKCoin), you will get REKT if you don't.

You think we'll go down again?

That's all he ever thinks

[NotLambchop]

"INVESTOPEDIA EXPLAINS 'SPECULATOR'
Speculators are typically sophisticated, risk-taking investors..."

If that definition makes you feel better then the best of luck to you...

Why is it that the ignorant poor are so averse to learning?
Why do you get so angry when your betters, out of the kindness of their hearts, stoop down to correct you in hopes of imparting some learnings?  Hmm?



*Dang, fell already

[natewelt]

I just bought some more at 386 on that 2pm dip bringing my average down a bit to 406.

I recently became bullish again with it making a higher low at 320 in early November (higher than Oct 275 low). I just needed to see a huge rip (which came from 360 to 450) and dip before buying more. I don't want to try and catch a falling knife that's why I was not buying sub 300.

We need to get back above 450 and stay there...time will tell.

Welt

[rebuilder]

It is not a "conclusion", only the best explanation I can think of at the moment.  Clues:

Maybe the problem is there is no clear explanation as market movements are mostly not based on news? Maybe looking at what happens and trying to puzzle out why it happened leads people to see causal links where there are none?

[bengtåke]

beep beep beep

[seleme]

Huobi orderbook is Wild West.

[Fatman3001]

"INVESTOPEDIA EXPLAINS 'SPECULATOR'
Speculators are typically sophisticated, risk-taking investors..."

If that definition makes you feel better then the best of luck to you...

Why is it that the ignorant poor are so averse to learning?
Why do you get so angry when your betters, out of the kindness of their hearts, stoop down to correct you in hopes of imparting some learnings?  Hmm?

[Another bear picture]

*Dang, fell already

Not being able to tell if you are a speculator or an investor has led quite a few people to bbqing rats over the fire of a garbage can while muttering to themselves "what the he@@ happened?" while simultaneously humming to the tune "Money, money, money" by ABBA.

[ChartBuddy]

Explanation

[Wary]

Was anybody expecting the drop from 450 to 380?

[JorgeStolfi]

What do you think about the BIT purchases 7.8k a couple of days ago, and recently 6k (btc).

I don't know... people claim that SMBIT buys off the exchanges, so those buys should not affect the price immediately.  Also, miners create 4000 BTC per day, so those 15 kBTC are 4 days' worth of miners output.  Is that enough to start a 100$ rally?

Perhaps the mine disaster in Thailand forced SMBIT or some other entity to buy at the exchanges instead of from those miners.

There was also news of a new NCR point-of-sale terminal that would have native support for bitcoin payments.  But that news was not relevant to China, since stores there cannot accept bitcoin, AFAIK.

[rebuilder]

Was anybody expecting the drop from 450 to 380?

Me, not exactly. I thought a drop was likely at some point after the nov 12 rocket launch, but didn't care to guess when. When we got back to 430, I had this idea there was a very good chance of going to about 380. Why?

I guess it would've been cooler had I posted this a few hours ago, but: Look at the mini-trend from about nov 9th to nov 12th, and extrapolate where that kind of slope would have had us at, had the price not spiked even more steeply on the 12th. About 380 on stamp...

Did I trade it? No. I have hunches like everyone, this one happened to be supportable by drawing a line on a chart. I don't have cause to believe my hunches are right more often than not, so I don't trade.

[Fatman3001]

Was anybody expecting the drop from 450 to 380?

I think everyone in this thread was prepared for it at least.