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

[micalith]

The exchanges are closing the price gaps between each other again, this also happened during the end of the last correction so I consider this very bullish.

^ this

however, I'm still not ruling out a large bull trap

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[barbs]

...as if any of this trading has anything to do with supply and demand.  This is big pockets lining themselves with money.  No doubt.

Same guys that caused the dump last night are now driving the price back up, full of fiat from selling at the top now they rebuy all their coins and more.  What a joke.

Don't bother with trend analysis, the agenda is clear. We're going back up now.  I for one have my profit BTC set to the side as we go to 10,000 and am taking a break from this for a while. See you guys on the moon.

[adamstgBit]

come on bears

DUMP YOUR COINS!!

[haightst]

i do not feel comfortable with all this dirty fiat, please everyone sell now so i can buy back already.

you don't have any BTC left? 

[Mirsad]

come on bears pigs

DUMP YOUR COINS!!

corrected

Bear and proud!
@pigs and panic newbie bull: Thank you for the cheap coins  

[rpietila]

China isn't buying it, apparently.

China is still selling...

Just watch the charts (24h).

Gox/Stamp up in the last few hours -> against the china trend

China looks more like 3000-3500 CNY.

It is so easy to sell in China. I started the selling program yesterday when I realized that the price had overshot:

- Open the account in BTC China
- After a few hours you get confirmation email
- You can fund your account instantly (no limit in funding)
- Selling works well and liquidity is good - today I have already bought 6.2M CNY  

I managed to lose a trading password, needed for initiating transactions. They reseted it on the phone, doing overtime. The clerk spoke very good English. The KYC procedure is also reasonable. No trading fees. Why should I ever trade in the western snailexchange??

Oh yes. How to get back the profits? There is currently a healthy 24% arbitrage between Stamp and BTC China. If you sell now in China, you get $680 equivalent of CNY. When the premium evaporates (during the last 6 months, about half of the time premium has been about 0% and most of the time <10%), you buy back, transfer to Bitstamp, sell and pocket the money.

I don't see how China premium could not revert to <10% in the next 2 days.

[San1ty]

Downwards channel broken, I repeat Downwards channel broken!

[DougTanner]

Huh.

[haightst]

come on bears

DUMP YOUR COINS!!

~i'll trade me all my /\AC for 1 BTC = we can make moves/\\/wherever! LOL  

[NamelessOne]

Downwards channel broken, I repeat Downwards channel broken!

Yes and the falling wedge.

[dreamspark]

The SEPA's have finally arrived on Stamp. Expect a small surge at least.

[adamstgBit]

walls bears, we need walls!

[gizmoh]

Sorry Bears, Game ON 

[haightst]

China isn't buying it, apparently.

China is still selling...

Just watch the charts (24h).

Gox/Stamp up in the last few hours -> against the china trend

China looks more like 3000-3500 CNY.

It is so easy to sell in China. I started the selling program yesterday when I realized that the price had overshot:

- Open the account in BTC China
- After a few hours you get confirmation email
- You can fund your account instantly (no limit in funding)
- Selling works well and liquidity is good - today I have already bought 6.2M CNY  

I managed to lose a trading password, needed for initiating transactions. They reseted it on the phone, doing overtime. The clerk spoke very good English. The KYC procedure is also reasonable. No trading fees. Why should I ever trade in the western snailexchange??

Oh yes. How to get back the profits? There is currently a healthy 24% arbitrage between Stamp and BTC China. If you sell now in China, you get $680 equivalent of CNY. When the premium evaporates (during the last 6 months, about half of the time premium has been about 0% and most of the time <10%), you buy back, transfer to Bitstamp, sell and pocket the money.

I don't see how China premium could not revert to <10% in the next 2 days.

stop spamming~imo you are fos!   ..ahhh throw me some satoshis you cheap mudda sucka! wtf!

[crazy_rabbit]

China isn't buying it, apparently.

China is still selling...

Just watch the charts (24h).

Gox/Stamp up in the last few hours -> against the china trend

China looks more like 3000-3500 CNY.

It is so easy to sell in China. I started the selling program yesterday when I realized that the price had overshot:

- Open the account in BTC China
- After a few hours you get confirmation email
- You can fund your account instantly (no limit in funding)
- Selling works well and liquidity is good - today I have already bought 6.2M CNY  

I managed to lose a trading password, needed for initiating transactions. They reseted it on the phone, doing overtime. The clerk spoke very good English. The KYC procedure is also reasonable. No trading fees. Why should I ever trade in the western snailexchange??

Oh yes. How to get back the profits? There is currently a healthy 24% arbitrage between Stamp and BTC China. If you sell now in China, you get $680 equivalent of CNY. When the premium evaporates (during the last 6 months, about half of the time premium has been about 0% and most of the time <10%), you buy back, transfer to Bitstamp, sell and pocket the money.

I don't see how China premium could not revert to <10% in the next 2 days.

Thats good to know! I might have to do that myself!

[San1ty]

All aboard the bull-train again!

[Mirsad]

Craaaaazy rollercoaster.

Don't forget to sell on the way up. Or the newbies cry after the next bubble pop.

[FTWbitcoinFTW]

[RationalSpeculator]

I do not think that "risk management" strategies are sound for BTC. In my book the only way to go is the following:

Invest in BTC an amount you are ready to lose

Don't forget to realize some fiat profits, because unrealized profits = non-existent profits.

Practical example:

Somebody that invested in January this year has already a 50x unrealized profit. Wise thing in my book would be to sell at least 10% of the BTC, cashing in a healthy 5x profit on the initial investment, while keeping 90% of the BTC for the next cycle.

I'm using this strategy myself, with a clear exit plan I tend to follow strictly. I was lucky because I managed to reach x100 in the last run-up (BTC doubled 3 times in 4 weeks), but I would have cashed out even at x50.

Golden advice.

Thanks for helping me see this Rampion.

[NamelessOne]

Too bad that gif pans down at the end, makes it harder to watch.