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

[damiano]

did put some buy orders at 76 dollars

Buying at 76 would be pretty sweet

[phoenix1]

Where there are losers there are winners too.

Tru, but the market requires 'sustainable shearing' and/or lots of new lambs in order to function at its best  

Interesting. So then these 14,000 contracts represent real coins?

They represent approx 4.5k of BTC price exposure, but can be purchased on margin.
It is still by no means a small position. It's bigger than any of their top 10 holders (biggest is 13k contracts, the rest are all 3-5k)
I guess that 13k might be the other side of this trade !

[RCan06]

Man it gets quiet in here when the price is teetering on the edge either up/down.

Everyone too busy chewing their finger nails off?

[TankHankerous]

I'm trying to decide when to buy in again

[derpinheimer]

Edit: I just realized that the USD swaps may include LTC longs as well.

I think your correct

Good point. Probably no more than $200,000 of it though, so very insignificant.

Look at the ltc short interest and compare it to btc

Yes, and the number you'd get is like $100k USD LTC longs if the ratio is kept the same.

[YourMother]

The price should've been $210 by now, but Tim Draper keeps buying them tulips out of frustration.

[derpinheimer]

BTC3,500 dump on BFX just now

[ghandi]

Seems to get serious now

[KryptoFoo]

running all the stops

[Shak]

lots of people trying to catch the knive

[derpinheimer]

Look at pathetic BTCChina, supposedly the volume leader.. cant even break down a BTC1,400 wall. They're falling behind because the wall is too large to break.

Pathetic. That exchanges real volume is probably <20K a day, not >200k

[bassclef]

Whee, glad I kept my short open from $300.

[aztecminer]

'chinese panic' flash dumps have taken out 260.

[YourMother]

Ok it is Wednesday now. Always big volume day historically.

I'm thinking we will see a major pump today. Prepare your fiat/coins!

I bought in just now at 258.

Keep holding and never lose hope

  

[derpinheimer]

Whee, glad I kept my short open from $300.

According to BFXData, this massive dump is not the product of new shorts. Actually, about 300BTC of shorts closed during the dive. And $100k of new longs.

So those knife catchers are actually just people closing shorts and going long.

[NotLambchop]

Coinbase sends Bitcoiners their regards

[mmitech]

Look at pathetic BTCChina, supposedly the volume leader.. cant even break down a BTC1,400 wall. They're falling behind because the wall is too large to break.

Pathetic. That exchanges real volume is probably <20K a day, not >200k

I remember Bobby Lee the CEO of BTCChina talking about how phantom orders and how Chinese exchanges such as OKcoin and Huobi have no shame fake their order book(phantom orders) and volume... now it seems that they started doing the same in order to not fall behind.

[Fatman3001]

did put some buy orders at 76 dollars

Buying at 76 would be pretty sweet

Not if it keeps dropping.

I am starting to think people in Bitcoin are complete idiots. Bitcoins are only cheap if they are significantly cheaper than their value. If it plummets to $76 from $1200 then there is no reason why it won't drop below $10 and stay there. The value of BTC is somewhat dependent on it not being slaughtered to the point where it is or is conceived to be completely unreliable as a store of value. I am not suggesting that it needs to be more stable than 1st world fiat, but stable enough so that you can buy some and spend it within a month or two without risking losing more than you would pay in credit card fees or Western Union fees.

So what you want to do now is put on your Brave Pants and buy some coins to help push that mofo to Winkeltosser Heaven!! $40000 Biatsch!!!!

[mmitech]

Amazing, Price going down, less shorts and same amount of longs...Explain that to me


Shorts




Longs




Compare it to my post before.

[YourMother]

Coinbase sends Bitcoiners their regards