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

[DaRude]

Not looking good...

The ways of Bitcoin ...esp price ...are 'mysterious to me'  FML

Yeah longs have gone full retard on finex @ $23,5MM and they brought up the price to like 0.15%/day so longs are paying $35.250 daily just to leverage. And they didn't close or get squeezed as we were going down to $250 but instead were adding to their position. Then shorts jumped up.   i'm at a loss as to wtf is going on but feel like the pressure cooker is only getting hotter and something got to give sooner or later judging strictly by longs most likely down. But in the mean time seems like Finex is the only one making serious money now, leveraged longs buying from leveraged shorts  

[macsga]

If the current movement continues 2h MACD will cross within the hour (Finex). I say up (after the Eclipse).

[inca]

Not looking good...

The ways of Bitcoin ...esp price ...are 'mysterious to me'  FML

Yeah longs have gone full retard on finex @ $23,5MM and they brought up the price to like 0.15%/day so longs are paying $35.250 daily just to leverage. And they didn't close or get squeezed as we were going down to $250 but instead were adding to their position. Then shorts jumped up.   i'm at a loss as to wtf is going on but feel like the pressure cooker is only getting hotter and something got to give sooner or later judging strictly by longs most likely down. But in the mean time seems like Finex is the only one making serious money now, leveraged longs buying from leveraged shorts  

Yes I am unsure as to what is happening also. Shorts are rising (finally). It is curious that the long's wont capitulate. Either there is a lot more ammo up their sleeves, or some news is about to come out which will drive the price upwards a lot, or they are trapped and will be squeezed.

Something that isn't commented upon often is that you can use BTC as collateral for margin long positions on finex. So you actually don't need USD on the exchange to go long. This means that miners and large holders (say Winklevos) could use their holdings to drive up the price. I wonder if this is why the long interest never drops below 14 million (even after a 90% crash) and may explain the constant imbalance in the long:short interest ratio.

This weekend I am off with some friends away from the interwebs. It is shaping up to be an epic weekend!

[Tzupy]

If the current movement continues 2h MACD will cross within the hour (Finex). I say up (after the Eclipse).

That's not possible, even with sustained buying 2h MACD would need 8h or more to get positive (only divergence is positive now).
The 1h MACD is in the balance, could point direction soon.

[inca]

If the current movement continues 2h MACD will cross within the hour (Finex). I say up (after the Eclipse).

That's not possible, even with sustained buying 2h MACD would need 8h or more to get positive (only divergence is positive now).
The 1h MACD is in the balance, could point direction soon.

Just watching. Bitcoin needs more celestial inspiration!

[YourMother]

Looks like this shitcoin is doing an unusually poor job of entertaining me today.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[L0uis]

Who cares how high bid sums are on exchanges, as most new ppl buy Bitcoin via Coinbase, LB of Circle

[inca]

Who cares how high bid sums are on exchanges, as most new ppl buy Bitcoin via Coinbase, LB of Circle

Good point.

Sadly the exchanges set the price.

[L0uis]

Who cares how high bid sums are on exchanges, as most new ppl buy Bitcoin via Coinbase, LB of Circle

Good point.

Sadly the exchanges set the price.

True, but demand will catch up at some point. Back in the Gox days, there were very few options to buy Bitcoin, so the only way was to wire money to exchanges. That could explain the high liquidity back then. Now there are so many options, and that makes it so much harder to try and guess true value. But there must be a turning point eventually, i think thats the reason TA makes less sense these days. Nobody really knows, exchanges are pure speculative

[inca]

Who cares how high bid sums are on exchanges, as most new ppl buy Bitcoin via Coinbase, LB of Circle

Good point.

Sadly the exchanges set the price.

True, but demand will catch up at some point. Back in the Gox days, there were very few options to buy Bitcoin, so the only way was to wire money to exchanges. That could explain the high liquidity back then. Now there are so many options, and that makes it so much harder to try and guess true value. But there must be a turning point eventually, i think thats the reason TA makes less sense these days. Nobody really knows, exchanges are pure speculative

Yep indirect demand will rise if coins are scarce due to buying on localbitcoins and other sites like coinbase and circle.

It is pretty clear that the bitcoin price is set with a fairly small float of coins held by a relatively small number of whale traders. The sooner a regulated US exchange appears with a orderbook depth befitting the market cap of bitcoin the better.

[ChartBuddy]

Coin
Explanation

[tarmi]

so, bitcoinlandia...you will let this sneaky bull whale close his underwater longs and usd swaps on low volume? really?  

he is getting away with those cheap and fake walls.

bears...this is your chance for cheap coins dont disappoint me like bulls did when they didnt break 300.
 

[inca]

so, bitcoinlandia...you will let this sneaky bull whale close his underwater longs and usd swaps on low volume? really?  

he is getting away with those cheap and fake walls.

bears...this is your chance for cheap coins dont disappoint me like bulls did when they didnt break 300.
 

What is your prediction for the weekend tarmi?

[tarmi]

so, bitcoinlandia...you will let this sneaky bull whale close his underwater longs and usd swaps on low volume? really?  

he is getting away with those cheap and fake walls.

bears...this is your chance for cheap coins dont disappoint me like bulls did when they didnt break 300.
 

What is your prediction for the weekend tarmi?

sideways while this guy tries to unload his most expensive swaps. but I doubt he will get far away.

I just hope that there is a reasonable and smart bear out there waiting to attack. I did my part in 290 range so I am watching from the sidelines for now.

[Sitarow]

This past hour has had low volume.

2015-03-20 8:44AM EST

On all exchanges and no price rise.... Usually ends with a dip. Unless it holds sideways before the volume starts picking up.

[coinableS]

Good morning fellow coin traders... looks quiet.
Will the weekend stay flat?
Will the EW-ers be right and we'll fall hard?
Will the winkies launch Gemini next week?
Only time will tell...

[Natalia_AnatolioPAMM]

not looking good indeed... seems too risky

[ChartBuddy]

Coin
Explanation