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

[JayJuanGee]

First time I checked the price today & we've shot up into the 290's. How very nice
Let's not have a massive dump shall we & consolidate here or even break 300.

Huobi is $302 now

The Chinese have led this rally but we eventually catch up to their last step up in price at about the same time they have another step up. As 300 is already broken in China it will get broken here, by which time it will be 310 in China. When their banks open on Monday morning the price could go up at dizzying speeds as money hits their exchanges.

Thank you for clarifying this for me

Yes, the mid-term trend still seems to be upward for a bit into the future, and $320 seems very plausible with this kind of uptrend.

I mean really the price movement of the past 24 hours (on stamp) was achieved with very little resistance - on the other hand that weak resistance could be a sign that Stamp has been serving as a follower rather than a leader in the latest $15 uptick in prices.

[kromtar]

to much beartrolls crying and fudding 

[billyjoeallen]

over 3/4 Million new USD longs. Over 2,000 new BTC shorts on BFX.  That's very little safety net when this rally stalls out. 

~23 Million in margin longs that got to cover on the way up.  Only 14,000 in shorts total to cover to halt a crash.

We're going somewhere, either up or down. But hanging out on a cliff edge is not going to last.

[HI-TEC99]

Can we get a new price poll for a specific date please? The current poll doesn't really say anything, because nobody knew what the target date was.

The current poll is confusing because nobody expected the Chinese exchanges to be $10 higher than all the others for the last month. $300 got broken ages ago on the Chinese exchanges, and the others are still in the $290s. Should the next poll ask us to guess the averaged price across all exchanges, or the highest price on any, or another option?

[Fakhoury]

Can we get a new price poll for a specific date please? The current poll doesn't really say anything, because nobody knew what the target date was.

The current poll is confusing because nobody expected the Chinese exchanges to be $10 higher than all the others for the last month. $300 got broken ages ago on the Chinese exchanges, an the others are still in the $290s. Should the next poll ask us to guess the averaged price across all exchanges, or the highest price on any, or another option?

When this rally could stop ?

[Cconvert2G36]

I'm waiting for +50% of the posts to be someone else than me, lambie, stolfi, LFC and BJA.

Then I will go into full retard bull mode.

I usually consider a higher concentration of bubble drunk moon kids to be an inverse indicator.  

over 3/4 Million new USD longs. Over 2,000 new BTC shorts on BFX.  That's very little safety net when this rally stalls out.  

~23 Million in margin longs that got to cover on the way up.  Only 14,000 in shorts total to cover to halt a crash.

We're going somewhere, either up or down. But hanging out on a cliff edge is not going to last.

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

[billyjoeallen]

Lifting the 21 million limit will happen if the miners see it as being more profitable than the alternative. Oh, just by a little, and there will be plenty of rented experts to explain that the change is actually good for bitcoin...  (But we have been through this discussion before...)

Every government wants to have a strong and stable currency; but some of them end up printing lots of money to cover their expenses, even though that hurts the currency.  When the US government created the dollar, it promised to back each bill in gold or siver; but it eventually reneged on that promise. I don't see why the promises of the bitcoin protocol -- that were made by humans, and depend on humans honoring them -- will have a different fate.

So you don't see how force is different from persuasion?  The monopoly government's can mandate use of their scrip. We have neither their ability to coerce nor their perceived legitimacy. If the 21 M cap is lifted, the market will reject bitcoin and I will be among the first to divest myself entirely.  The markets regulate better than States do.

[JorgeStolfi]

https://en.wikipedia.org/wiki/Wizards_%28film%29
By the guy who also did https://en.wikipedia.org/wiki/Fritz_the_Cat_%28film%29

Thanks!  (I watched his Lord of the Rings, but not that one.)

[Wekkel]

Looks a bit toppy short term.

[billyjoeallen]

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

Yeah, I got caught with my pants down like everybody else. If we had hit double digits I would have gotten a margin call too.  I'm gonna try to leave leverage to people smarter or luckier than me from now on.

[nioc]

I'm waiting for +50% of the posts to be someone else than me, lambie, stolfi, LFC and BJA.

Then I will go into full retard bull mode.

happy to oblige. today I saw a vanity license plate that said TEAMBEAR

[peonminer]

Top out now, or 6AM cst Monday? ?? 310 crash, here we gooooooo

[ChartBuddy]

Coin

Explanation

[Patel]

Looks topped out, but I think we will see red candles going sideways, then back up.

I don't think it will go lower than 270

[Fatman3001]

happy to oblige. today I saw a vanity license plate that said TEAMBEAR

Sounds like tarmi. Was it a Yugo?

[molecular]

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

Yeah, I got caught with my pants down like everybody else. If we had hit double digits I would have gotten a margin call too.  I'm gonna try to leave leverage to people smarter or luckier than me from now on.

Wait... are you saying you've had a long position open for how long?

[JayJuanGee]

Can we get a new price poll for a specific date please? The current poll doesn't really say anything, because nobody knew what the target date was.

The current poll is confusing because nobody expected the Chinese exchanges to be $10 higher than all the others for the last month. $300 got broken ages ago on the Chinese exchanges, and the others are still in the $290s. Should the next poll ask us to guess the averaged price across all exchanges, or the highest price on any, or another option?

Bitstamp is the default price talking point, unless specified otherwise.      

[billyjoeallen]

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

Yeah, I got caught with my pants down like everybody else. If we had hit double digits I would have gotten a margin call too.  I'm gonna try to leave leverage to people smarter or luckier than me from now on.

Wait... are you saying you've had a long position open for how long?

Of course not. The bounce after the last $316 top.  Quintupled down after the bottom and closed with a profit at about $235.  All this $2-300 range trading is just noise until we get this blocksize issue resolved.

[natewelt]

That $22-23 million in longs weren't liquidated even in the $160 flash crash, I agree that I would feel better about this rally with shorts hitting new highs rather than floundering about like they are. (Sometimes I shudder to think what BFX actually did that day though, they might have had to flip the breaker before the whole thing unwound...  )

Yeah, I got caught with my pants down like everybody else. If we had hit double digits I would have gotten a margin call too.  I'm gonna try to leave leverage to people smarter or luckier than me from now on.

Wait... are you saying you've had a long position open for how long?

Of course not. The bounce after the last $316 top.  Quintupled down after the bottom and closed with a profit at about $235.  All this $2-300 range trading is just noise until we get this blocksize issue resolved.

Oh it all makes sense now...

[Dilla]

^yup. Someone is just sour.