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

[dreamspark]

So hands up. Whos seriously buying at this level? (As a trader, not as a long term purchase).

All the technicals point to more down.

To be honest we're lucky that China held up so well while all the fishyness was going on over at Bitfinex.

Oh also congrats everyone who longed the Euro pre FOMC meeting.

[Master mind]

Bitfinex now all dumps record like green buy  

https://www.cryptocoinsnews.com/bitcoin-price/

[Dump3er]

So...I heard...bottom, again?

You guys mean THE BOTTOM....or as always one of those bottoms till there's coming the next bottom?  

[bassclef]

All the technicals point to more down.

No they don't. Oscillators and RSI are way oversold on large timeframes. Maybe we'll get a retest of lows, but it'll probably be a higher low.

When you get climactic action to the downside like this and the bars close way above the lows, that means the market found high quality buying at that level and is an indication of strength. Market weakness is found on green bars near the tops of rallies, where the volume either trails off or you get high volume on narrow bars (evidence of high volume selling entering). That's when you short--not here after climactic action to the downside which removes all the selling.

[Fatman3001]

So...I heard...bottom, again?

You guys mean THE BOTTOM....or as always one of those bottoms till there's coming the next bottom?  

?

$220 has been the bottom since January. If all the exchanges creep below $210 then.... The Dump3er will become a beautiful butterfly.

[Richy_T]

There is no need for bigger block size. There is no need to increase the size of blocks every time we get near the limit. There is no need for free money transfers for everyone. Everything that is free for the users but not free for the manufacturers will be abused in every possible way. That is a basic rule for every economy!!! Blockchain will be cluttered with spam and bitcoin will become worthless. Everyone should get accustomed to the idea that they have to compete with higher fees to get included in a block. XT altcoin gives no solution to this at all. It just kicks the can down the road in the most irresponsible way!

That is absolutely your opinion and you're entitled to it. Other people feel differently. Fortunately, the Bitcoin protocol provides for a way for such differences to be settled that really doesn't call for lies, personal attacks and much of the other stuff that has been going on.

[Morecoin Freeman]

I completely agree with user bassclef.

This is a good time to buy in my opinion.  I have seen these exact same events many times before.

[dreamspark]

All the technicals point to more down.

No they don't. Oscillators and RSI are way oversold on large timeframes. Maybe we'll get a retest of lows, but it'll probably be a higher low.

When you get climactic action to the downside like this and the bars close way above the lows, that means the market found high quality buying at that level and is an indication of strength. Market weakness is found on green bars near the tops of rallies, where the volume either trails off or you get high volume on narrow bars (evidence of high volume selling entering). That's when you short--not here after climactic action to the downside which removes all the selling.

"Maybe we'll get a retest of lows, but it'll probably be a higher low."

So down then.

Depends what time frames your looking at completely. Weekly MACD is about to turn down.

We shall see, still $25 million in longs on BFX, LOL and that's after being told for the last 3 months that $30 million in longs was okay.

Standard triangle consolidation is occurring at the moment and I would seriously not be surprised to see it break out again to the downside. Where did all the bids go on Bitfinex? This could get so so ugly, where is everyone long on Finex going to close into?!

We shall see, its all speculation but there could still easily be a complete wipe out of those longs before we go anywhere.

I completely agree with user bassclef.

Of course you do, you're long. You also thought $255 was going to hold

[ChartBuddy]

Coin
Explanation

[xyzzy099]

http://xtnodes.com/

Only one of the last thousand blocks has advertised XT compatibility.

First block https://blockchain.info/block/00000000000000000174419fa2ba5003e123dbd97c6982aff1863f016b04789d

I'm not sure that block is really an XT block.  It was mined by Slush pool, which is still creating all version 3 blocks.  That particular block has a bizarre version field for some reason.

It is an XT block. Sadly. Slush confirmed it, saying they allowing miners to choose and using v3 for core blocks and 536870919 for XT blocks.

Version: 536870919(10) = 0x20000007 (hex)

Edit: Sorry, someone on reddit said that, not Slush. https://www.reddit.com/r/bitcoinxt/comments/3hhbm5/first_mined_xt_block_370434/

Ok, I see now.  Slush is allowing individual stratum miners to support XT by mining to a specific port (3301 instead of 3333), and XT does, indeed, use that rather odd number for the version.  I stand corrected.

https://www.facebook.com/MiningBitcoinCz?fref=nf

[Fatman3001]

All the technicals point to more down.

No they don't. Oscillators and RSI are way oversold on large timeframes. Maybe we'll get a retest of lows, but it'll probably be a higher low.

When you get climactic action to the downside like this and the bars close way above the lows, that means the market found high quality buying at that level and is an indication of strength. Market weakness is found on green bars near the tops of rallies, where the volume either trails off or you get high volume on narrow bars (evidence of high volume selling entering). That's when you short--not here after climactic action to the downside which removes all the selling.

"Maybe we'll get a retest of lows, but it'll probably be a higher low."

So down then.

Depends what time frames your looking at completely. Weekly MACD is about to turn down.

We shall see, still $25 million in longs on BFX, LOL and that's after being told for the last 3 months that $30 million in longs was okay.

Standard triangle consolidation is occurring at the moment and I would seriously not be surprised to see it break out again to the downside. Where did all the bids go on Bitfinex? This could get so so ugly, where is everyone long on Finex going to close into?!

We shall see, its all speculation but there could still easily be a complete wipe out of those longs before we go anywhere.

I completely agree with user bassclef.

Of course you do, you're long. You also thought $255 was going to hold

But 4 million of those were opened during and after the crash. And the other 21 million obviously didn't fold even at $162.

[bassclef]

"Maybe we'll get a retest of lows, but it'll probably be a higher low."

So down then.

Depends what time frames your looking at completely. Weekly MACD is about to turn down.

We shall see, still $25 million in longs on BFX, LOL and that's after being told for the last 3 months that $30 million in longs was okay.

Standard triangle consolidation is occurring at the moment and I would seriously not be surprised to see it break out again to the downside. Where did all the bids go on Bitfinex? This could get so so ugly, where is everyone long on Finex going to close into?!

We shall see, its all speculation but there could still easily be a complete wipe out of those longs before we go anywhere.

Down slightly, then up. Catching a short here is dangerous.

If the longs are well-financed, it will take a dip to $100 or below to call them. You really think bearwhale will risk taking out another $3 million short? Everyone thought the sky was falling after $166 yet the best trade would have been long from there. I longed at $180 when everyone was crying about the end of Bitcoin. Great counter-sentiment trade.

Sell climaxes are meant to unnerve investors and encourage shorts in inexperienced traders.

[ttbh]

...And the other 21 million obviously didn't fold even at $162.

Not all longs with liquidation price under $200 were liquidated. The liquidations were paused to allow the market to recover. How many are left and whether it's worth the risk of selling the market down to those prices again is any one's guess however.

[esse83]

We are now looking at the next huge wave down last seen summer 2014 (ofc with some bounces), we might find some ground at 230 (longterm trendline since april 2013) - if it fails we collapse into 1xx and then double digits.

Right now the price is $250 - advice, short.

If it comes true double digits will be around december this year (2015). My guess is $77.

Saved for future reference.

Edit: Within a year I also expect bitstamp & bitfinex to collapse (bankruptcy).

Excellent timing I must say, pure luck of course. And we have found ground as expected at 230. My position is still short.

[dreamspark]

"Maybe we'll get a retest of lows, but it'll probably be a higher low."

So down then.

Depends what time frames your looking at completely. Weekly MACD is about to turn down.

We shall see, still $25 million in longs on BFX, LOL and that's after being told for the last 3 months that $30 million in longs was okay.

Standard triangle consolidation is occurring at the moment and I would seriously not be surprised to see it break out again to the downside. Where did all the bids go on Bitfinex? This could get so so ugly, where is everyone long on Finex going to close into?!

We shall see, its all speculation but there could still easily be a complete wipe out of those longs before we go anywhere.

Down slightly, then up. Catching a short here is dangerous.

If the longs are well-financed, it will take a dip to $100 or below to call them. You really think bearwhale will risk taking out another $3 million short? Everyone thought the sky was falling after $166 yet the best trade would have been long from there. I longed at $180 when everyone was crying about the end of Bitcoin.

Sell climaxes are meant to unnerve investors and encourage shorts in inexperienced traders. I bet you went short after the crash to $166 too.

No as I said if you wanna check my posts I was short from $280's on futures. I'm up a few hundred percent atm. Im also not short BTC atm, I'm hedged to protect my $ value and am crushing Forex instead 

Look as always we shall see BUT do you really think that if this shit tanks, like really really tanks that an exchange like BFX can survive and make lenders whole. These are worse case scenarios but its a very scary time to have all your money in coin and on exchanges.

Um yeah, bearwhale just made a shit ton of money shorting high 200's it takes so little money now to start moving downwards again, everyone who opened trades around here and a little lower will want out, there's no bid side left on BFX anymore what are they going to close into.

[Fatman3001]

...And the other 21 million obviously didn't fold even at $162.

Not all longs with liquidation price under $200 were liquidated. The liquidations were paused to allow the market to recover. How many are left and whether it's worth the risk of selling the market down to those prices again is any one's guess however.

Do we know at what point the liquidations were paused?

[dreamspark]

...And the other 21 million obviously didn't fold even at $162.

Not all longs with liquidation price under $200 were liquidated. The liquidations were paused to allow the market to recover. How many are left and whether it's worth the risk of selling the market down to those prices again is any one's guess however.

Do we know at what point the liquidations were paused?

No but they have a system where if an order or liquidation moves the market by a certain % they wait to execute them.

Also after having multiple conversations with Phil from BFX before their liquidation system is very very dodgy. He explains it a little bit in the recorded teamspeak chat that's on soundcloud now.

[coinpr0n]

Hmm.. it's looking like the rollercoaster ride isn't over quite yet. Should I be wearing my seatbelt?

[AizenSou]

We are going down from 280$ to 220$ in less than 10 days because two shills want to prove their might by forking bitcoin?

The answer from community is clear now, Gavin & Mike ?

[Morecoin Freeman]

More sideways...