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

[galdur]

Well, difficulty down substantially it seems.

Estimated Next Difficulty:   47,606,427,273 (-3.72%)
Adjust time:   After 3 Blocks, About 31.5 minutes

[Chef Ramsay]

With the amount of shorts and longs... Are we not at the point where any movement will result in a squeeze? Aka rocket or retarded rocket?

I still think we're gonna creep up on 260ish, not sure how many shorts will get pinched in the process. I just wonder if we have to stoop lower in order to get back there.

[Shatoshi]

Man, bitfinex slapped me around last night and some change fell out of my pocket.  


A bunch of my posts where I mocked scam coins were deleted.

[damiano]

Getting an urge to go leverage long with my 50 btc play stash. Must. Not. Give. In.

I think there's a bit more downside (sorry guys). Technically things aren't looking great unless you can call this low volume chopping around a bottom--I can't. 3d macd solidly in the red. Daily chart bear flag in the works looking a bit foreboding. Whales seem intent on getting a panic shakeout near 200s or lower. Save your longs until then when everyone's freaking out.

All this chopping around from 220-230 is fake.  The people who do get caught in the middle are those who are buying those shorts.

Thursday show @230 I gotto admit was pretty good.

[inca]

Getting an urge to go leverage long with my 50 btc play stash. Must. Not. Give. In.

I think there's a bit more downside (sorry guys). Technically things aren't looking great unless you can call this low volume chopping around a bottom--I can't. 3d macd solidly in the red. Daily chart bear flag in the works looking a bit foreboding. Whales seem intent on getting a panic shakeout near 200s or lower. Save your longs until then when everyone's freaking out.

All this chopping around from 220-230 is fake.  The people who do get caught in the middle are those who are buying those shorts.

Thursday show @230 I gotto admit was pretty good.

Since we have gone from 22000 to 29200 shorts in a few days and the longs havent moved, whilst the price has risen, I would agree it is fake but not in the way you suggest. Borrowed selling and real buying by the looks of things.

[Fatman3001]

Well, difficulty down substantially it seems.

Estimated Next Difficulty:   47,606,427,273 (-3.72%)
Adjust time:   After 3 Blocks, About 31.5 minutes

It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm.  And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off.

[bobdude17]

Coinbase wall down.
Whats going on

[Fatman3001]

Coinbase wall down.
Whats going on

Apply a lube of your choosing

[fred930]

Coinbase wall down.
Whats going on

Sometimes big walls get pulled once people start buying/dumping into them, and sometimes they seem to get pulled for no reason. They are probably often put there just for show.

[galdur]

Well, difficulty down substantially it seems.

Estimated Next Difficulty:   47,606,427,273 (-3.72%)
Adjust time:   After 3 Blocks, About 31.5 minutes

It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm.  And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off.

Yeah. Well, my theory has been that if the market believes that bitcoin has a future it won´t let it drop far enough to make most mining dubious. And with it the blockchain. Thus, the bottom at 220 or so, apart from those five second 210 and 215 blips.

[bobdude17]

Coinbase wall down.
Whats going on

Sometimes big walls get pulled once people start buying/dumping into them, and sometimes they seem to get pulled for no reason. They are probably often put there just for show.

Not just the bid wall I think. Quite a few ask walls came down with it.

[Fatman3001]

Well, difficulty down substantially it seems.

Estimated Next Difficulty:   47,606,427,273 (-3.72%)
Adjust time:   After 3 Blocks, About 31.5 minutes

It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm.  And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off.

Yeah. Well, my thory has been that if the market believes that bitcoin has a future it won´t let it drop far enough to make most mining dubious. And with it the blockchain. Thus, the bottom at 220 or so, apart from those five second 210 and 215 blips.

The volume isn't here though. We have to move soon, my bottom is clenched.

[ElectricMucus]

Well, difficulty down substantially it seems.

Estimated Next Difficulty:   47,606,427,273 (-3.72%)
Adjust time:   After 3 Blocks, About 31.5 minutes

It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm.  And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off.

I doubt they have the equipment or even the prerequisites to install AC units in that scale.

[Bitcoin Buyer Reload]

why is the price getting stuck under 230. it was better when it was moving 245-255. had more option for market revenue.

i have noticed a slight decrease in btc users. most of the people are hitting for an alt that has a good marketing.

[galdur]

Well, difficulty down substantially it seems.

Estimated Next Difficulty:   47,606,427,273 (-3.72%)
Adjust time:   After 3 Blocks, About 31.5 minutes

It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm.  And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off.

Yeah. Well, my thory has been that if the market believes that bitcoin has a future it won´t let it drop far enough to make most mining dubious. And with it the blockchain. Thus, the bottom at 220 or so, apart from those five second 210 and 215 blips.

The volume isn't here though. We have to move soon, my bottom is clenched.

I thought earlier that it had formed a solid support at 240-250 and I think it´ll crawl back to there. Although the volume is always weak, bitcoin has this persistent and annoying buying from tons of small bulls. Annoying that is to those few and relatively big bears that have played it down (and of course sometimes up while they cover) for over a year now.

Bitcoin has twice tried for 300 in the last three months or so. A third isn´t too far fetched in the short to intermediate trem. We´ll see. Good luck, g

[bassclef]

Getting an urge to go leverage long with my 50 btc play stash. Must. Not. Give. In.

I think there's a bit more downside (sorry guys). Technically things aren't looking great unless you can call this low volume chopping around a bottom--I can't. 3d macd solidly in the red. Daily chart bear flag in the works looking a bit foreboding. Whales seem intent on getting a panic shakeout near 200s or lower. Save your longs until then when everyone's freaking out.

All this chopping around from 220-230 is fake.  The people who do get caught in the middle are those who are buying those shorts.

Thursday show @230 I gotto admit was pretty good.

Since we have gone from 22000 to 29200 shorts in a few days and the longs havent moved, whilst the price has risen, I would agree it is fake but not in the way you suggest. Borrowed selling and real buying by the looks of things.

I think the analysis of shorts vs longs is useful to know but overused to predict price. Shorts were at ATHs and the market still went down; conversely for longs. Market moves on supply and demand and not much else and those with the most coins and $$$ have the largest effect on price. They still have risk and need to make money so this will push the market in the direction of least resistance, or where obvious technicals point (often this is the same). Whales respect good, time-tested TA (volume, trends, support & resistance, MAs) just as other traders do. This is important as many of them are quite good.

Shorts vs longs may tell a good story but is more of a metric to see how many traders are entering the market to profit than anything else.

[Fatman3001]

Well, difficulty down substantially it seems.

Estimated Next Difficulty:   47,606,427,273 (-3.72%)
Adjust time:   After 3 Blocks, About 31.5 minutes

It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm.  And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off.

I doubt they have the equipment or even the prerequisites to install AC units in that scale.

A lot can be done with some fans and wet corrugated paper. But it still draws electricity.

[ChartBuddy]

Coin
Explanation

[GreekGeek]

A lot can be done with some fans and wet corrugated paper. But it still draws electricity.

provided the ambient humidity is low to begin with...

[Fatman3001]

Well, difficulty down substantially it seems.

Estimated Next Difficulty:   47,606,427,273 (-3.72%)
Adjust time:   After 3 Blocks, About 31.5 minutes

It took a month to go from 20b to 30b. We crossed 40b at Nov 18, 2014 and we still haven't crossed 50b. That should tell you something about how squeezed miners are atm.  And when summer comes many of them will have to look at costs connected to cooling those machines vs just turning them off.

Yeah. Well, my thory has been that if the market believes that bitcoin has a future it won´t let it drop far enough to make most mining dubious. And with it the blockchain. Thus, the bottom at 220 or so, apart from those five second 210 and 215 blips.

The volume isn't here though. We have to move soon, my bottom is clenched.

I thought earlier that it had formed a solid support at 240-250 and I think it´ll crawl back to there. Although the volume is always weak, bitcoin has this persistent and annoying buying from tons of small bulls. Annoying that is to those few and relatively big bears that have played it down (and of course sometimes up while they cover) for over a year now.

Bitcoin has twice tried for 300 in the last three months or so. A third isn´t too far fetched in the short to intermediate trem. We´ll see. Good luck, g

We need to punch through 300 and land comfortably at 380 soonish and climb to 450-550 over the summer. Then I would feel more confident. But as you say, we'll see. Good luck to you too.