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

[JayJuanGee]

People are getting liquidated on the way down putting more pressure on an already weak tape, eventually the price will hit a point where buyers will step in and on the way back up we will have less selling pressure to deal with (the leveraged "profit takers" already capitulated)

In a market like this you have to actively be trading both short/long to maintain your $

I am not sure about which charts reflect the changes in the quantity of longs and shorts on Bitfinex, for example.

So my question is whether a lot of the margin longs been wiped off the books, after the current extensive downward correction?

[RGR991]

People are getting liquidated on the way down putting more pressure on an already weak tape, eventually the price will hit a point where buyers will step in and on the way back up we will have less selling pressure to deal with (the leveraged "profit takers" already capitulated)

In a market like this you have to actively be trading both short/long to maintain your $

I am not sure about which charts reflect the changes in the quantity of longs and shorts on Bitfinex, for example.

So my question is whether a lot of the margin longs been wiped off the books, after the current extensive downward correction?

I use https://bfxdata.com/sentiment/longshort to check longs vs shorts on Finex.

As you can see the bulls are still very stubborn which makes me think we will continue lower... 



I also use

https://twitter.com/whalecalls

to get a grasp on liquidations for both shorts and longs.

[JayJuanGee]

People are getting liquidated on the way down putting more pressure on an already weak tape, eventually the price will hit a point where buyers will step in and on the way back up we will have less selling pressure to deal with.

In a market like this you have to actively be trading both short/long to maintain your $

actually BFX longs havent gone down a lot

Can you provide a link for this, because I have not been able to find that information?

[Spaceman_Spiff]

People are getting liquidated on the way down putting more pressure on an already weak tape, eventually the price will hit a point where buyers will step in and on the way back up we will have less selling pressure to deal with.

In a market like this you have to actively be trading both short/long to maintain your $

actually BFX longs havent gone down a lot

Can you provide a link for this, because I have not been able to find that information?

https://bfxdata.com/swaphistory/totals

[BitUsher]

We also make a fine washing machine for China's dirty money, and we put it on the planet's tab. That must be worth something?

Excellent point , Capital flight is a greatly needed aspect as well . We may be literally savings some lives with bitcoin in countries like Venezuela with their catastrophic hyper inflation reaching over 700%- https://coin.dance/volume/localbitcoins/VEF  

Fuck Socialism

[JayJuanGee]

People are getting liquidated on the way down putting more pressure on an already weak tape, eventually the price will hit a point where buyers will step in and on the way back up we will have less selling pressure to deal with (the leveraged "profit takers" already capitulated)

In a market like this you have to actively be trading both short/long to maintain your $

I am not sure about which charts reflect the changes in the quantity of longs and shorts on Bitfinex, for example.

So my question is whether a lot of the margin longs been wiped off the books, after the current extensive downward correction?

I use https://bfxdata.com/sentiment/longshort to check longs vs shorts on Finex.

As you can see the bulls are still very stubborn which makes me think we will continue lower... 



I also use

https://twitter.com/whalecalls

to get a grasp on liquidations for both shorts and longs.

Thanks, maybe i should try to account for this information, too in my attempts to predict possible price directions.

[dumbfbrankings]

Translation: Bitcoin's principle value is serving the needs of the criminal underground.

Yes, regulatory arbitrage. It usually is illegal though as there are plenty a vanishingly tiny number of examples of legal regulatory arbitrage -- IE purse.io for carding operations. Regardless, we should be proud of many elements of the black market and one should consider bitcoin a good black/grey market etf.

Great example of a distressed business that is completely legal but because of operation choke point where the state unethically and many would say illegally pressures banks to shutdown merchant processors act in their own rational self-interest is accepting crimecoin as a fallback-

https://ghostgunner.net

Excellent product as well.

"So what are u in for?"

"You know, the usual, regulatory arbitrage."

[strawbs]

Is it wrong that the potential for market chaos makes me consider voting Leave in tomorrow's Brexit referendum???
http://uk.reuters.com/article/uk-britain-eu-g-idUKKCN0Z82XR

[BlindMayorBitcorn]

Good time to buy . set in another set of buy orders.

Smart.
Bought the last time you said it was a great time to buy, about $150 ago. Feeling even more bullish now, increasing my bitcoin stash as we speak.
Thanks for the good advice.
P.S. If for some reason this goes south on us & my wife kicks me out of the house, can I come stay at your libertarian commune?

Only if you can pay out your nose for it. (Sort of ironic, I guess.)

[Wandererfromthenorth]

Is it wrong that the potential for market chaos makes me consider voting Leave in tomorrow's Brexit referendum???
http://uk.reuters.com/article/uk-britain-eu-g-idUKKCN0Z82XR

yes

[Ted E. Bare]

BlindMayorBitcorn you're in everything.

[talkingleaves]

Is it wrong that the potential for market chaos makes me consider voting Leave in tomorrow's Brexit referendum???
http://uk.reuters.com/article/uk-britain-eu-g-idUKKCN0Z82XR

nah, vote for the fun and interesting option. vote to speed up the inevitable.

[Hyperjacked]

just kickin butt n takin names...but wat do I know  

cheers jay!

That's true.. What do you know?  Even a stopped clock is correct twice a day, and rejoicing such correctness seems nubile, at best.

Lol...fool! Read my history...troll bag

I've made huge calls in the past...ppl that know follow me...that don't post n just read!

Ppl that can crush the price and do the opposite...

Why would I give a ratt's ass about your post history?

Just provide credible and substantive discussions and that's all that is needed.. otherwise who gives a shit about whether you are correct or not, unless you are striving to be some kind of psycho cult leader?... which I am kind of beginning to get that vibe from you.   

Sounds like I'm under your skin...u asked for proof! That's my proof...ppl that know know
U r just a #heroinyourmind like richard branson imho

[BitUsher]

Only if you can pay out your nose for it. (Sort of ironic, I guess.)

I don't live in a gated community and there are all different income demographics that live here from those that earn around 5k a year to multimillionares. Many that make 5-10k a year here have a better quality of life than those that make 30-40k in the US as well. You guys need to travel more and try and understand different cultures. I have lived in many countries and certainly don't ever care about returning to the US where I briefly lived for a few years .

[gentlemand]

Is it wrong that the potential for market chaos makes me consider voting Leave in tomorrow's Brexit referendum???
http://uk.reuters.com/article/uk-britain-eu-g-idUKKCN0Z82XR

You're going to make a life changing decision on the basis of getting a minor and purely theoretical bump in Bitcoin's price? It might last a couple of hours.

[strawbs]

Is it wrong that the potential for market chaos makes me consider voting Leave in tomorrow's Brexit referendum???
http://uk.reuters.com/article/uk-britain-eu-g-idUKKCN0Z82XR

You're going to make a life changing decision on the basis of getting a minor and purely theoretical bump in Bitcoin's price? It might last a couple of hours.

Irony, my friend.

[TeeBone]

This is the single most ridiculous thing I've ever seen. And I've seen a lot.

If you dont approach btc like a penny stock, you will get destroyed. In and out, take your profits and smile. Btc has no inherent value outside of speculation, burning the next greater fool is whole name of the game. I sold 60% of of my stash at around $725, and kinda pissed not everything.

There may be one more leg up towards $1000, and you better be selling into it while all the shills come out in full force screaming million dollar btc.

[JayJuanGee]

People are getting liquidated on the way down putting more pressure on an already weak tape, eventually the price will hit a point where buyers will step in and on the way back up we will have less selling pressure to deal with.

In a market like this you have to actively be trading both short/long to maintain your $

actually BFX longs havent gone down a lot

Can you provide a link for this, because I have not been able to find that information?

https://bfxdata.com/swaphistory/totals

Thanks.. that is similar to what RGR991 provided... I am going to have to consider ways to include this kind of information in my thinking about possible BTC price directions.

[BitUsher]

This is the single most ridiculous thing I've ever seen. And I've seen a lot.

If you dont approach btc like a penny stock, you will get destroyed. In and out, take your profits and smile. Btc has no inherent value outside of speculation, burning the next greater fool is whole name of the game. I sold 60% of of my stash at around $725, and kinda pissed not everything.

There may be one more leg up towards $1000, and you better be selling into it while all the shills come out in full force screaming million dollar btc.

This is ridiculous . Bitcoin represents the health of the state and is a hedge against anarchism. The surest way to destroy bitcoins value is for states and regulations to disappear thus reducing its premium of fungibility over fiat for regulatory arbitrage. while I live as an anarchist , I am realistic and pragmatic with my worldview ... states and fiat aren't going anywhere, at least in my lifetime and likely in my children's and future grand childrens as well. The fact that bitcoin is disinflationary and growing in users will almost guarantee price will continue upward.

[AlexGR]

Brexit, once confirmed, over 800$ then halving over 2000$ Then I sell my coins and I go to Bahamas.

Brexit and politics are, generally speaking, not serious pump material. The Elite will manage any eventuality.

On the other hand, concerning BTC supply, minus 666666* bitcoins per year, in annual production, yes, that's the good stuff.

If 10-20-40k coins auctions are "big news", imagine -666k coins per year

* Approximation by <2%.