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

[ErisDiscordia]

We seem to be heading for the great 5180 - out of the handle at speed and volume.

What do you think will happen? Will we be able to break the resistance? Hear alot of people about a retrace to ~4500 CNY after hitting 5150 CNY.
I think that might be true.

Remarkably accurate call!

[1714652284]

1714652284

[JimboToronto]

Tomorrow I will buy all BTC and then withdraw all from exchange.

Sorry bro. You're not buying mine, or anyone else's who keeps them safe offline in paper wallets.

 

[bitebits]

[...] Personally, I don't really know. I do have some BFX coin tied up with them that I don't really want to cash out [...]

[...] there are some of these goofy and apparent warning signs coming from Bitfinex, I may be somewhat in agreement that it could be prudent for me to lessen my Bitfinex exposure even more.. [...]

Then you better get those BFX coins of Bitfinex and put them in cold storage.

/s

[JayJuanGee]

I like BTC. Buy for 1000  sell for 200 and buy back for 740 . Great decentralized investment.

What kind of fantasy world are you in? 

Yeah, sure there are some naive folks who are doing that, but in reality that should be the exception rather than any kind of widespread happening, no?

[huanglui]

Tomorrow I will buy all BTC and then withdraw all from exchange.

Sorry bro. You're not buying mine, or anyone else's who keeps them safe offline in paper wallets.

 

Satoshi already sell me his paper wallet with 850.000 BTC .

[petahashminer]

5150 yuans to 4730 yuans

for about 420 yuans @ $ 62  in a day.

seems not good for me.

[TERA]

Btc corrections after a multi week rally are typically violent and steep. This is nothing.  I called this yesterday.  It's still pretty bullish at this level.  You can start worrying of it goes below 650.

[JayJuanGee]

that bitfinex maintenance surely was planned to worsen the dump

O shady crypto world

anyone still operating there is asking for it.

A bit like good ol gox. The signs were there months ahead.

I get what you are saying, in terms of "signs," and really there had been "signs" of Bitfinex shenanigans for at least a year before the August 2, "hack".     

So, even though kind of like Gox, this whole bitfinex matter seems to be a whole-hell-of-a-lot more sophisticated and tricky, as compared with Gox.. Similar, but different.

Whether they are going to run away with the money or not still seems to be a question, even though some people like to describe the whole situation as a "when" question rather than an "if" question. 

Personally, I don't really know.  I do have some BFX coin tied up with them that I don't really want to cash out and likely lock in a more than 40% loss of that (based on current BFX prices), but surely, if the signs seems strong enough, it may be worth it to completely pull out of there. 

Since the BFX hack had taken place, I had made several BTC withdrawals, and a few BTC deposits.  Overall, my Bitfinex exposure was not really very big (even before the alleged "hack"), and currently, my exposure is a bit smaller than it had been.  Since there are some of these goofy and apparent warning signs coming from Bitfinex, I may be somewhat in agreement that it could be prudent for me to lessen my Bitfinex exposure even more.. I am still a bit in the air about the level of prudence that I personally deem to be fitting to my circumstances (which includes my consideration of the risks that I am taking and how much risk I am willing to tolerate, even while there are admittedly "signs")

I saw signs on Bitfinex and got all my capital out just days before the hack.  There were things like the site going down and withdrawals getting stuck and having to contact support.  Also they would openly argue with their customers on this forum and reveal things like the customers account balance.

Fair enough.    I will have to consider the matter. 

Around the time of the "hack", I had nearly 9% of my BTC investment in Bitfinex.

 Currently, (not counting what is tied up in BFX) I have about 6% of my BTC investment there, and upon review, it seems that I could reduce my exposure to 3-4% without really being considerably affected.  I think that I will need to consider the whole matter because I am changing a few of my various practices, and sometimes there is a certain amount of value in maintaining some risk exposure in order to facilitate some of the benefits of the whole bitcoin situation - including some ongoing arbitrage considerations that also seem to come about from time to time.

[JayJuanGee]

We seem to be heading for the great 5180 - out of the handle at speed and volume.

What do you think will happen? Will we be able to break the resistance? Hear alot of people about a retrace to ~4500 CNY after hitting 5150 CNY.
I think that might be true.

Remarkably accurate call!

hahahahahaha..

It is a bit ironic to see the 4580 indicator on Huobi.. If only had left the "80" in there.

[Dafar]

So wait... can't I just copy/paste my BTC and have double the BTC? 

[JayJuanGee]

[...] Personally, I don't really know. I do have some BFX coin tied up with them that I don't really want to cash out [...]

[...] there are some of these goofy and apparent warning signs coming from Bitfinex, I may be somewhat in agreement that it could be prudent for me to lessen my Bitfinex exposure even more.. [...]

Then you better get those BFX coins of Bitfinex and put them in cold storage.

/s

You should understand that there is no one way of accomplishing goals or spreading out risk.


If you understand the situation, Bitfinex converted about 36% of whatever value folks had on the Bitfinex at the time of the "hack" into BFX coins.  Some folks sold those coins as soon as Bitfinex went live, and got the hell out of there. Other folks held onto some of those coins or sold portions of those coins.  I am in the second category, and I chose to remain in the second category based on my current assessment of the situation. 

Yeah, sure, your assessment of what to do in the present based on anticipation of the future seems to be different than mine, but who the fuck cares?  Each of us chooses based on your own situation about what we are going to do and about how we are going to allocate risk, and I think that it is pretty likely that you have little to no clue about my particular situation and you are just barking out unsolicited "advisements" in a vacuum that is based on your situation or based on a large variety of assumptions that may or may not be fitting to my situation.

[marcus_of_augustus]

didn't think the "chinese officials rumours" trick still had any legs in it ... sooner the idiot traders get fleeced of all their bitcoins the better.

WTF is up with the bitfinex WALL ... guys??

[UnDerDoG81]

Bitcoin has become so predictable for a while now. Price tanks, FUDs coming out, it drops, than a dead cat bounce and it drops further. Then it starts tanking again slowly. So @730 I thought "it´s sell time". After a while FUDs came out (China bans BTC bla bla). But since I hodl for 2 years now I was just speculating. Whatever, after 730 I saw it dropping to 680 and then bouncing back to 700, I thought "clearly dead cat bounce, good time to sell again". Now its back to 680 and I guess it will stop at the 500s. I lived through this scheme for 2 years now. Yet I don´t have the balls to listen to my gut 

[smith1023]

move along
nothing to see here
tomorrow we keep flying towards the moon

[JayJuanGee]

didn't think the "chinese officials rumours" trick still had any legs in it ... sooner the idiot traders get fleeced of all their bitcoins the better.

WTF is up with the bitfinex WALL ... guys??

The fact of the matter seems that we were due for a correction, and likely any excuse helps...

Really going up about 25% from $610 to $750 without any meaningful correction? Especially after several months of relatively flat prices... ?  This current price performance remains within the realm of rational expectations, no?

[rjclarke2000]

This morning the plan was to have private island by Saturday. Fuck you China.

[Vahnt]

I think this ultimately either ends in a very bullish cup and handle pattern which ends up breaking through prior high and up towards new levels, or we just grind down to low 600's for the next month or two and bottom out in January-ish.

[rjclarke2000]

Has anyone else seen masterluc's prediction on the 'Analysis' thread?

Seems like it may happen.

[doc12]

Seems like we have a double bottom...

[Master mind]

Seems like we have a double bottom...