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

[adamstgBit]

Adam was being quite negative the other day, one might say bearish. He seems to have changed tact. I think the price got low enough & he bought back in, balls deep

Now he wants the price to go up, up, up.

Tell me, am I right?

i'm ready for 2016

[bambou]

bitcoin forwards, as a smart contract on the blockchain ... cute.

https://medium.com/@hedgy/decoding-the-dna-of-derivatives-82dcdf052607

Dat gif.

[Dotto]

any geniuses left to dump it to 305 once more?

The real geniuses are those who think that price will go up for no reason.

After the break at 500, it was almost obvious that price will return to mean - 250 or so.

newbie genius detected (and ignored)

[JayJuanGee]

Selloff the last 24 hours seems very exaggerated. Check the volume on finex - huge compared to even to the run up. Shorts ticked up to 16k.

If the price fully retraces then that would be disappointing. If the price holds above 300 and the old peak 300-320 becomes support then that is insanely bullish and this would be a great place to accumulate more (or buy back in).

Still it is clear the market is controlled by a few whales not afraid to dump tens of thousands of coins to move the market so anything is possible.

We are not going to stabilize anytime soon with this ongoing level of insane trade volume. 

Look at the charts, and don't tell me that daily volumes of considerably more than 15k per day on stamp is the new norm... that is just way too high to be sustainable.. in other words, we are going to have movement of one direction or another (and even both) until the trade volumes come down to some kind of more normal level (and I am suggesting 15k per day to be an approximation of a kind of normal daily trade volume).

[ChartBuddy]

Coin

Explanation

[adamstgBit]

is this gentlemen?

[adamstgBit]

you shall not pass!

[Torque]

I don't think the 315 wall will hold

Damn Adam, now I don't know what to think

Sure it will.  It was created by the dumper.  All walls, support or resistance, are created by the same whale.

Edit:

PAGE 14000 BITCHES

[Dilla]

So if this entity wants to cap us at 315, does that mean a big ole dump later like yesterday? And most other days where we get a dump around the same time?

[Fatman3001]

FATMAN WAS HERE!!!

14K!!!!

[adamstgBit]

ok THIS is gentlemen

[InvestorPerson]

So if this entity wants to cap us at 315, does that mean a big ole dump later like yesterday? And most other days where we get a dump around the same time?

it means that average joe will get slapped around like always, get back the next day and pretend everything is good  

[becoin]

We are not going to stabilize anytime soon with this ongoing level of insane trade volume.

Increased level of bitcoin adoption leads to increased level of trading volume. It is absolutely logical.

[Dotto]

We are not going to stabilize anytime soon with this ongoing level of insane trade volume.

Increased level of bitcoin adoption leads to increased level of trading volume. It is absolutely logical.

No, decreased price of BTC=increased volume.

Remember the pizza taht was 10K BTC

[Denker]

Ok I'm done for today. I hope to see tomorrow a price which will still be above the 300s.
Wanna see this as the final bottom now.Otherwise this is getting kind of frustrating and I need to vent my anger on somebody.

[TReano]

Did anyone here get lucky with a short position?

wrong place to ask...

This is the "perma Bull, I am always long, don't miss the boat next leg up is likely going to be $100.000k soon overtake the Gold Market Cap!" *Rocket Picture* Forum.

[Tzupy]

you shall not pass!...TODAY

FTFY

EDIT. I was wrong...

[JayJuanGee]

We are not going to stabilize anytime soon with this ongoing level of insane trade volume.

Increased level of bitcoin adoption leads to increased level of trading volume. It is absolutely logical.

Surely, I agree with you about that point, and surely I agree with you that for a variety of reasons bitstamp could experience an overall new normal trade volume of above 15k coins per day - but the level of trade volume cannot really be explained only by an increased level of adoption....   because the past two weeks we have witnessed trade volume levels on Stamp greatly in the 20k per day range, when in the previous couple of years, the average was much closer to 10k per day.

I do realize as well that Stamp is becoming more and more trusted, so over time, they are likely to attract more volume - nonetheless, I stick to my position that current ongoing daily volumes remain an indicator of short term future volatility - at least until we see the volumes taper off a bit... and sure in the end, we may end up remaining in the current $305 to $330 trading range, but indicators support that we are likely going to see quite a bit more violent outbursts in one direction or the other or both - and to me it seems that upwards has a better chance than downwards  (maybe I would currently bet that in the coming days, 75% chance of upwards and 25% chance of downwards.. more or less).

[riils]

Volume is high because bubble is still deflating, what's so hard to understand here?

[rjclarke2000]

King of trading ^^