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

[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.

Oh it all makes sense now...

closed my MARGIN long. I was still 100% long until the $260s...

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[BitofaN1]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

[billyjoeallen]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

[ChartBuddy]

Coin

Explanation

[BiteMyShinyMetalAss]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

Hahahaha! True! Its a shame they get BTC money. So shameless! Like selling cocaine...

[chennan]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

That's actually something I never really thought before... it could very well be possible for someone who has a lot of cash laying around just absolutely hates the government in general are just pumping up the prices just to fuck with them in a way.  Lol, I hope this is not the case and is a legitimate growth in bitcoin and not some ruse some troll is doing just for that one specific instance.

[Cconvert2G36]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

That's actually something I never really thought before... it could very well be possible for someone who has a lot of cash laying around just absolutely hates the government in general are just pumping up the prices just to fuck with them in a way.  Lol, I hope this is not the case and is a legitimate growth in bitcoin and not some ruse some troll is doing just for that one specific instance.

Fuck with the government, by helping them maximize their take? Think this through again.

[tarmi]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

the more they pay the coins on auction less likely is that they will dump them. draper paid what, 600 $ a piece? lel

[peonminer]

When are the next big BTC auctions? I can't wait for this crash Gonna be lovely. A beautiful disaster. We could see a floor sub $200 again.

[chennan]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

That's actually something I never really thought before... it could very well be possible for someone who has a lot of cash laying around just absolutely hates the government in general are just pumping up the prices just to fuck with them in a way.  Lol, I hope this is not the case and is a legitimate growth in bitcoin and not some ruse some troll is doing just for that one specific instance.

Fuck with the government, by helping them maximize their take? Think this through again.

No... what I'm saying is that someone is pumping the price up until the point of the auction and then plans on dumping after the auction takes place so they would lose a lot of money... I highly doubt that this scenario is happening, I'm just saying it would be funny if some millionaire out there is trying to do this.

[NSA360]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

That's actually something I never really thought before... it could very well be possible for someone who has a lot of cash laying around just absolutely hates the government in general are just pumping up the prices just to fuck with them in a way.  Lol, I hope this is not the case and is a legitimate growth in bitcoin and not some ruse some troll is doing just for that one specific instance.

Fuck with the government, by helping them maximize their take? Think this through again.

No... what I'm saying is that someone is pumping the price up until the point of the auction and then plans on dumping after the auction takes place so they would lose a lot of money... I highly doubt that this scenario is happening, I'm just saying it would be funny if some millionaire out there is trying to do this.

Tim is ready again

[Elwar]

This is really overbought on all time frames...

Seems that way but it wasn't a quick shot up...it's been gradual over the past week so it has potential.

Even holding over $250 for so long is the death knell for the bear market.

[peonminer]

This is really overbought on all time frames...

Seems that way but it wasn't a quick shot up...it's been gradual over the past week so it has potential.

Even holding over $250 for so long is the death knell for the bear market.

[Cconvert2G36]

When are the next big BTC auctions? I can't wait for this crash Gonna be lovely. A beautiful disaster. We could see a floor sub $200 again.

This is the last one for the US gov. The Australian gov has 20k something coins to sell though.

The big dagger hanging over our heads is really the 200k gox coins that need to be sold or returned to the victims. I'm sure a percentage of those people will be market selling and dusting their hands of the whole thing.

[billyjoeallen]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

the more they pay the coins on auction less likely is that they will dump them. draper paid what, 600 $ a piece? lel

We don't know for sure Draper didn't dump them or lend them out to short sellers, do we? What we can logically deduce is that buyers won't dump them for less than they pay unless the price goes down and stays down for a long time. The key is the RELATIVE differential between spot price and what they pay.

[nioc]

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

Sounds like tarmi. Was it a Yugo?

No it was a nice German car.  It was in New York so maybe they work for Bear Sterns, oh wait.

[BitofaN1]

I still think this rally is about market makers getting sure nobody else gets 44k cheap coins at the martial auction, that could threaten their positions.
I expect this to continue for at least 10 more days, with peak around 3-4th of November.

We don't know if the buyers are going to hold or dump. The only thing we do know is that the damn government gets the cash and I hope that amount is as low as possible. 

Nah, let them get as much worthless fiat as they want.They print that shit like it's toilet paper anyway..
What I was saying is that Market Makers are making sure the buyers won't dump because they will pay way above market price.

[!! pop]

... could very well be possible for someone who has a lot of cash laying around just absolutely hates the government in general are just pumping up the prices just to fuck with them in a way. ...

- Here, diagonally!
http://s28.postimg.org/4n5hpqzl9/Capture.png
(Pretty sneaky, sis!)

[ChartBuddy]

Coin

Explanation

[peonminer]

... could very well be possible for someone who has a lot of cash laying around just absolutely hates the government in general are just pumping up the prices just to fuck with them in a way. ...

- Here, diagonally!

(Pretty sneaky, sis!)