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

[logictense]

Oh shit, after reading this and realizing the possible implications, I will have to be extra careful after opening a long...

You've never had a long position before, Tzupy. What's the matter with you?

The reason goddamn kids tell u theyre uncertain about opening a long is that they love to demonstrate how badly they hate the market by systematically expressing approval to devious tendencies toward having a short position, while feeling vulnerable to fault inside their primitive mind.

[1714483337]

1714483337

[the artful bodger]

ZE Jiang(BTC.TOP): Huobi & BTCC stopped margin trading, OKc leverage only 1x, finally no more fake BTC generated by exchange

https://twitter.com/cnLedger/status/819808775032868865

Oh shit, after reading this and realizing the possible implications, I will have to be extra careful after opening a long... Planned to open one in a couple of hours...

What possible implications exactly?

A possible 10x drop in Chinese volume, how do you think that would look? Bullish?

Are we sure this is true? I just checked my huobi account and margin seems to be the same

 

Coindesk says BTCC is the only Chinese exchange to make a formal announcement until now. It's website's home page shows a link to this message

https://www.btcc.com/



Coindesk says traders on Huobi told them it stopped margin, and OKCoin traders told them differing stories.

http://www.coindesk.com/china-bitcoin-exchanges-trading-policy-updates/

At press time, traders were reporting that loan-based trading services were no longer available on Huobi.

OKCoin's international and China-facing websites OKCoin.com and OKCoin.cn were said to be offering limited or augmented versions of the services, though traders were reporting different experiences.

However financemagnates says BTCC told them stopping margin might only be temporary.

http://www.financemagnates.com/cryptocurrency/trading/bitcoin-trading-on-margin-halted-by-major-chinese-exchanges/

Talking to us shortly before this publication, Bobby Lee, the CEO of BTCC, told Finance Magnates that the importance of this move needs to be taken in context and not be overstated. He explained that halting leveraged trading could just be a temporary action, one of possibly many more tweaks to the service to come, as the exchanges are trying to adapt to the demands of the regulators while nothing official has been decided yet. The real importance here, as he sees it, is that the PBOC is actively engaging with BTCC and other bitcoin exchanges and openly shares this with the Chinese public.

[kurious]

Watching Stamp to see if we have really turned.

The book is pretty thin - 1000 BTC either bought or sold will make a huge price difference, so Stamp (which looks a leader right now) is very vulnerable to whale whims...

Tread carefully. I am looking for a dip to blow the last of my fiat, I put half of what I sold at the high 900s back in at 798 yesterday and then it went below.  Thankfully I am ok now - but I haven't got a clue if I will get one more dip or not for the other half.  Let's see.

EDIT:  Wishing everyone a filthy French Weekend of screen action.

A filthy French Weekend?
You mean you wish us to all raise the white flag together
Doesn't make much sense man

A French Weekend is a weekend that is so delightful and memorable you don't want to shower it off....

[roslinpl]

I think we're at the new bottom now

[mainpmf]

I think we're at the new bottom now

Well, I hope so.

It seems we're in a more stable period of variation. Contrary to this crazy 500 --> 1100 run, this upper trend seems much more reasonable so it should also be more stable! I do hope that 800 will be a new bottom, when you compare to a few month ago that's still an increase of 60% so not too bad I'd say xD
And problem is that if we break 1000$ again I'm pretty sure it will crash soon after...
Might be my pessimistic side though...

[BitcoinNewsMagazine]

Here is the problem: it is possible that maximum pain level was not reached, meaning blood in the streets, wailing, despair you get the picture. RSI on the daily chart has not reached oversold level under 30. A capitulation wave down to $680 should get the RSI oversold and price would also touch the daily 200 MA. May not happen but putting some bids in at $680 might prove to be a good move.

[Fakhoury]

News URL : https://twitter.com/clif_high/status/819930504401010689

[600watt]

Nearing the top of the descending wedge.
I'm expecting more down. If wrong, I'd expect a breakout of the trendline to be both violent and large.

huobi @5700. broke the wedge. let´s hope for good. still too tiny.

edit: not broken on finex. not on stamp. we need $850+ for that.

[Killerpotleaf]

knocking on initial resistance.

might see a nice sharp move to 869 in the next few hours.

or like 888? 

[Killerpotleaf]

feels like bottom fishers taking profit... wouldn't be surprised that this resistance is strong, but would expect big move if broken.

if we can't do it, i'd put good money on a higher low 799

[Killerpotleaf]

loving that retardedly tight spread 

[Chainsaw]

(updated chart below)

Nearing the top of the descending wedge.
I'm expecting more down. If wrong, I'd expect a breakout of the trendline to be both violent and large.

huobi @5700. broke the wedge. let´s hope for good. still too tiny.

edit: not broken on finex. not on stamp. we need $850+ for that.

Within this descending wedge, we've taken one run at resistance, and are about to take a second.
The first time, we hit it with a symmetric triangle (Continuation pattern) from the $816 low to the resistance line. When we hit it, we dropped.
This time, we are coming at it with a symmetric triangle from the $735.25 low to the resistance line.
Those two converge around 4am CST at $816...so I'm guessing sideways/slight drift down for the next 12 hours, then down hard.

[Killerpotleaf]

this is exciting!
support looks strong.
though little battle

[yonton]

Is that called the X's and O's chart?

[Killerpotleaf]

Sell it all man

I've fucking had it.

[yonton]

Comon lil candle green candle you can do it!

[Meuh6879]

[rjclarke2000]

That actually looks pretty sexy.


Edit. NOT the agent Smiths

[Killerpotleaf]

Knock Knock

[K~Ehleyr]

Knock Knock

Who's there?