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

[Voodah]

Great 5000 Wall of China eaten

eaten or pulled back?  if it is really eaten... prepare for Monday massacre!!! Get your shorts on, time to get rid of the coins while its still at 800...

yes it was eaten a 4000 BTC is already dumped and it is continuing 

Are you positive??

I'm not sure but I thought I saw it get pulled back on BitcoinWisdom..

Can someone confirm?

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[mb300sd]

Damn, looks like I'm about to miss the party... just slipped myself 2 ambiens.

[windjc]

So China leads, huh?

Lol. Doesnt look like it to me.

Give it time, arb will happen. The 5000 psychological barrier is broken, zoom back you'l see a clear lower lows pattern since chinese news.

Lol. I have the chart memorized. I also know you have some fiat you want to reenter at a lower price.

Hell, I've been preaching lower price for days, but the problem is, it hasnt been going too much lower. Now China just dropped $70 and the other exchanges dropped $15. Someone(s) not too eager to go lower. At least not quickly.

[windjc]

Was this a Silk Road like spring load coil that is going to send us back into the upward trend line?

Once China realizes no one went down with them, are they going to rethink their bearishness?  They are used to watching Gox.

[NUFCrichard]

well I am really surprised how people are not panic selling, I am sure most of people learnt the lesson the hard way

It is already 25% down, and everytime a panic sell off happens, the bulls buy up the cheap Bitcoins!  It seems like we have found our interim level, the question is... where next!?

[gandhibt]

real support doesn't show in order books because order books are bs, stamp has some real support at 805-810

[manfred]

Great 5000 Wall of China eaten

eaten or pulled back?  if it is really eaten... prepare for Monday massacre!!! Get your shorts on, time to get rid of the coins while its still at 800...

yes it was eaten a 4000 BTC is already dumped and it is continuing 

Are you positive??

I'm not sure but I thought I saw it get pulled back on BitcoinWisdom..

Can someone confirm?

Eaten a handful the pulled

[Loaded]

mmmmmmmmmm...whale caviar.

[seleme]

mmmmmmmmmm...whale caviar.

 

[tarmi]

tasty whale caviar.

we want MOAR

 

[Voodah]

I was about to say this was a point for the bears, with how 5k CNY support was broken marking a lower low on the last mini trend....

But Loaded's here... so umm... let's wait and see right ?

[gizmoh]

So China leads, huh?

Lol. Doesnt look like it to me.

Give it time, arb will happen. The 5000 psychological barrier is broken, zoom back you'l see a clear lower lows pattern since chinese news.

Lol. I have the chart memorized. I also know you have some fiat you want to reenter at a lower price.

Hell, I've been preaching lower price for days, but the problem is, it hasnt been going too much lower. Now China just dropped $70 and the other exchanges dropped $15. Someone(s) not too eager to go lower. At least not quickly.

Heck i always have some fiat at hand..I'm just a trader and as most id like a bullish trend,as easier to make dough,but the story of charts is telling otherwise.
I also agree this baby is going down at a slow pace and even though a whale tried to sustain the price at 900(loaded!), the market is not willing for >1k territory, not yet at least.

[crazy_rabbit]

Here comes the eruption.

[Loaded]

I was about to say this was a point for the bears, with how 5k CNY support was broken marking a lower low on the last mini trend....

But Loaded's here... so umm... let's wait and see right ?

No excitement from me tonight. Just catching some dumpers and selling their coins back to them at my profit...

[Voodah]

6:50 AM here in Argentina.

What crowd am I hanging with right now? US or EU?

Where are you guys? What time is it?

[windjc]

Interesting factoid:  50 minutes into the 1 hour candle in China and this is already the 2nd highest volume candle in the entire rally.

Down on higher volume normally means massive support. What does it mean today?

Edit: this will be the 3rd highest volume candle and the highest volume red candle to date in China.

[tarmi]

6:50 AM here in Argentina.

What crowd am I hanging with right? US or EU?

Where are you guys? What time is it?

its rpietila time! (EU)

[crazy_rabbit]

mmmmmmmmmm...whale caviar.

You know loaded, with the level of bitcoin wealth you have- you could probably convince some large investors to join you in creating some sort of market stability mechanism. In particular- we need a way to arbitrage between exchanges. Not on the individual trader level, but on the larger market level. Like a meta exchange. Where every time you make a purchase of bitcoin you were getting it at the lowest possible price worldwide, and every time you sold a bitcoin you were selling it at the highest possible price worldwide.  That would go a long way to ironing out the market stability.

[seleme]

6:50 AM here in Argentina.

What crowd am I hanging with right now? US or EU?

Where are you guys? What time is it?

Europe mostly, I guess.

[Voodah]

mmmmmmmmmm...whale caviar.

You know loaded, with the level of bitcoin wealth you have- you could probably convince some large investors to join you in creating some sort of market stability mechanism. In particular- we need a way to arbitrage between exchanges. Not on the individual trader level, but on the larger market level. Like a meta exchange. Where every time you make a purchase of bitcoin you were getting it at the lowest possible price worldwide, and every time you sold a bitcoin you were selling it at the highest possible price worldwide.  That would go a long way to ironing out the market stability.

BitPay has that system for internal use. They pull all bids & ask from all exchanges and always buy low, sell high. Supposedly when you use their service you are reaping the benefits of that.