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

[Lopumbo]

*boom*

[Nosk]

Who the f.ck is selling sub 9k Oo
Makes no sense to me

[SidETH]

Who the f.ck is selling sub 9k Oo
Makes no sense to me

Why not? Makes me feel more comfortable. Bought initially at 2k, sell at 9k. See it dip to 5k. Go all-in again. See rise to 20k.
Should have sold at 20k, but ah well. Win some, lose some.

[Last of the V8s]

[realr0ach]

*boom*

ALL exchanges crumbling with no buy support yet SCAMFINEX IS STILL conjuring infinite money out of thin air to put up big walls.  I see nobody wants to address this issue at all, that the most shady exchange in bitcoin that exists magically has infinite amounts of money originating from a single trader.  How obvious is Bitfinex going to make this scam?

[JayJuanGee]

This might be the last shake. Down to ~8.5k probably.

You going to have any buy orders below $8.5k, just in case?   

Of course, my just above $9k buy orders have filled, and I have buy orders just above $8k, and further down every thousand dollars. We know that the further down we go, the more possible it becomes that we could go down further, but at that same time, at some point this is going to reverse.  Maybe currently my $8k buy orders have around a 50/50 chance of filling?  Perhaps?  Even though before my $9k buy orders had filled, I would have probably concluded my $8k buy orders of having less than a 50% chance of filling (in other words, the odds for down has certainly gone up, especially as dumps continue to occur). 

I prefer that prices go up, but I set my Buy orders in such a way that I feel like I am accumulating a decent amount of BTC, so I don't mind doing that in the event that BTC prices keep going down (a bit beyond my expectations, I might repetitiously add).

[Last of the V8s]

[Traxo]

[realr0ach]

The only plausible explanation for what's going on at Bitfinex right now (because bid support is far too high compared to other exchanges) is they're either a flat out Gox scam printing infinite money, or someone like the Winklevoss who are sitting on 200,000 illiquid asset coins they can't even sell want to try and prop up the price but they have no intention of spending a cent to try and do so, so they send all their coins to Bitfinex and use it as margin collateral to constantly put up support wall after wall that gets dumped on. Using an illiquid asset you can't even sell without imploding the entire market as collateral would make the whole thing a giant pump and dump scam anyway, though.

Gox scam vs leveraged illiquid asset pump and dump scam.  Take your pick.

[podyx]

[Lopumbo]

haha 600 buy wall disappeared 

[toknormal]

Gox scam vs leveraged illiquid asset pump and dump scam.  Take your pick.

I'll take flat out Gox scam.

Wouldn't be much point in the Winkies doing that on only 1 exchange.

[FractalUniverse]

big volume around 9k on finex. this will be interesting whether it can hold or not

[Lopumbo]

big volume around 9k on finex. this will be interesting whether it can hold or not

bs thats likely fraud...you can even buy it on binance cheaper with tether
i just watched the exchange and it just haltet at 9000$ with amount: 0

[toknormal]

I think the idea of "Guvs" and big banks was to buy up all know bitcoin in sight during the last 8 months of 2017, drive the price up to kingdom come and then slam the market into the ground in attempt to destroy confidence in bitcoin as an asset.

They had to do that to avoid the worldwide debt bubble being "pricked" by bitcoin.

May or may not work.

[FractalUniverse]

big volume around 9k on finex. this will be interesting whether it can hold or not

bs thats likely fraud...you can even buy it on binance cheaper with tether
i just watched the exchange and it just haltet at 9000$ with amount: 0

the question is which exchange will lead the drop or start of the rally.

anyway, the levels im watching besides 9k.: 8800 as even larger  support, and ~9250 resistence

[Lopumbo]

the real cash exchanges lead the drop GAX and bitstamp: 8700$, kraken: 6900€

but there's likely some arbitrage going on between all of them, look at the tether-bot at kraken, its the biggest scam in crypto ever, and its unfolding

[toknormal]

$7500 is the big support level. The bubble started around $8200.

[realr0ach]

big volume around 9k on finex. this will be interesting whether it can hold or not

They already showed their cards and made it too obvious the exchange is a complete scam by fabricating all this enormous buy support around the $9k area when other exchanges are $300 lower.  There was absolutely no reason for anyone to waste like $50+ million defending that level when other exchanges had long busted through it.  This means they're just printing Gox dollars out of thin air to try and defend price all the way down while hoping they can con people into believing they're the legit market maker exchange that sets price.

edit: other exchanges now $400 lower while Scamfinex continues to print Gox dollars out of thin air and defending $9k

[Biodom]

Here is my take:

1. I want to have more crypto in eventuality (longer term).
Lower prices would mean that I would need to spend less fiat to get it.

2. If someone thinks that $450bil of a new asset class is a "bubble" with more than 100tril slushing in stocks, etc, I would politely disagree.

3. who said that you have to sell for fiat? I am already using the correction to reshuffle the crypto portfolio to focus on those that in my opinion are more likely to persevere (bitcoin is one of those).

That said, my oscillation theory says that the ultimate low is at around $7113, but whether we get to it in the current downswing or much later remains to be seen. A dip to around here or $8K with a fast rebound is also possible. It thought that the latter is more likely, indeed, but we are driving down a bit too fast.