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

[Hyperjacked]

If there is no bubble by next week (when fiat starts flowing), then I most likely will be proven correct (as far as price going to 270).

Well it's gonna break out one way or the other within days imHo! Bollinger band basics...

very hard making money after the volatility...just the facts!

Plus I don't like ppl losing all there btc!

[JayJuanGee]

Talking your book won't stop the rocket.

Yes, but there may be some correctness from the bears, that we are going to get another test of $300 that may cause some temporary dipping below $300... ... but, it seems such a testing is going to have to happen before the end of the weekend... otherwise, probably the upward price direction continues... because currently, there seems to be some difficulties bringing the price below $320 for any extended period of time.

[MatTheCat]

310 in 1 hour or never.

Ha ha ha.

I went all-in a leveraged short at 308 several days ago. And watched it go up to 350. But my conviction that it will retract to 270 is rock solid. I simply know it. Call me Nostradamus.

If it goes above 370 I am wiped out. But I won't mind since its a small sum of money I am already determined to loose. I don't take bitcoin speculation seriously.

Be patient, gravity works all the time. Only thing that can bring it much higher is yet another pump. Large or small. And likelihood of another pump to 370+ is not small. But smaller than it going below 300.

Remember - bitcoin price doesn't reflect anything. Not yet. At the moment its just blowing in winds of speculation.

But what happens if Bitcoin hits $370 before it retraces down to the Monster Support level at around $270? And ya know what, take a look at the charts, it is much more likely to do just that, than to not do that.

I can honestly, say, that every single bad trade that I have made (and I have lost thousands on Bitcoin), would have been a winner had I just waited it out, and/or exited at the right time....but it is about what Bitcoin does in the meantime.

Yesterday, I did decide to go 'net short' as the market imo opinion did look more likely to retrace, than to break out.....and then the Stamp Whale splashing around triggering Stop buys, caused me to impulse reverse my position back to long, at yet further net losses. My initital resitance target was $315 (61.8% short term retrace from $300 - $346), and then if that fell, $280 (long term 61.8% retrace from $150 - $500). Right about now, we are dipped into and tested the intermediate terms 61.8% retracement (from $190 - $500), and if that holds, then a move up towards $370 is extremely likely, which will wipe you out, even if a couple of weeks after that we are right back down into what would have been your profit zone, had your position not been margin called....

......Seen this happen to me so many times, both on scales of momentous losses, and also on trades that would have been momentous wins, had I not been foolish enough to place a Stop Loss order, which gets triggered in my sleep, right before the market takes the tumble that I anticipated.

Bitcoin markets are crooked as fuck. You think there aren't whale entities with access to exchange order books? You think that the Venture Capitalists that fund the likes of Bitstamp don't have access to such privileged information when there is no regulation stating that they shouldnt? You think hackers haven't already obtained access to these kind of insider data streams for whale clients?

The big money knows where all the little money is placed, and knows how best to hoover up all the little money.

[Hyperjacked]

...
I've been trading since the early 1990's...not my first day! Plus I'm inside the composite operators head!

I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills. I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces.

Do you know Don Shipley?  

A real seal wouldn't be bragging...or threatening !

I of course fear nothing...

[adamstgBit]

[Tzupy]

310 in 1 hour or never.

I'd be satisfied with 310$ in 2 h...

[adamstgBit]

if we don't see 320 again within 1hour we're going back to 333

this market is so predictable, how do poeple lose money on this?  

[riils]

310 in 1 hour or never.

Ha ha ha.

I went all-in a leveraged short at 308 several days ago. And watched it go up to 350. But my conviction that it will retract to 270 is rock solid. I simply know it. Call me Nostradamus.

If it goes above 370 I am wiped out. But I won't mind since its a small sum of money I am already determined to loose. I don't take bitcoin speculation seriously.

Be patient, gravity works all the time. Only thing that can bring it much higher is yet another pump. Large or small. And likelihood of another pump to 370+ is not small. But smaller than it going below 300.

Remember - bitcoin price doesn't reflect anything. Not yet. At the moment its just blowing in winds of speculation.

But what happens if Bitcoin hits $370 before it retraces down to the Monster Support level at around $270?

I am screwed, that simple 

[Hyperjacked]

...
I've been trading since the early 1990's...not my first day! Plus I'm inside the composite operators head!

I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills. I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces.

You do know there is a big difference between saying I'm a navy seal and a trader...?

Was I bragging because I said what I have done in the past...? Just stating facts sir!

You are a poser...go watch some fake seal videos on YouTube! Don Shipley is hilarious!

[ChartBuddy]

Coin



Explanation

[Fatman3001]

                      "I thought he was a "Pro Trader"?"



 "Lambie's been trolling him for weeks now and he hasn't got a clue"

[Hyperjacked]

...
I've been trading since the early 1990's...not my first day! Plus I'm inside the composite operators head!

I’ll have you know I graduated top of my class in the Navy Seals, and I’ve been involved in numerous secret raids on Al-Quaeda, and I have over 300 confirmed kills. I am trained in gorilla warfare and I’m the top sniper in the entire US armed forces.

You do know there is a big difference between saying I'm a navy seal and a trader...?

Was I bragging because I said what I have done in the past...? Just stating facts sir!

You are a poser...go watch some fake seal videos on YouTube! Don Shipley is hilarious!

Was I bragging because I said what I have done in the past...? Just stating facts sir!

You are a poser...go watch some The Wolf of Wall St. videos on YouTube! Leonardo DiCaprio is hilarious!

This is the wall observer thread discussing Bitcoin price and technicals!

Your the one coming out of left field...! Personally I could care less what ppl think of me...

Start saying something about the TA...please!

[Hyperjacked]

^OK. Didn't mean to back you into a corner like that, sorry. You're totally a successful trader with decades of experience.
(now your turn to tell me that you never doubted my being top Navy Seal with 300 kills)

I'll tell what...Call Don Shipley and we will all get together for a beer next time your in Town.

[JayJuanGee]

Gemini trades rolled back.  



https://np.reddit.com/r/btc/comments/3ss6kr/gemini_is_reversing_trades_wtf/

So those traders who sold at $2000 and thought Christmas had come early get screwed. If Gemini had a safety mechanism the error wouldn't have happened, It should compensate the traders who lost out. Bter has a warning box when you place an order with an excessive price. If Bter can do it, Gemini should have done it.

It goes to show, there really is zero reason to ever sit fiat on an exchange.

I was negatively affected by this trade reversal decision, and I think that it is really bullshit and unprofessional for them to authorize a reversal based merely on user error.

If they were to authorize such reversal based on a technical glitch or a hacker, that would probably be a more justifiable reason.  

I'm going to attempt to communicate with them about honoring my trade (even if they personally have to absorb the cost (mine had been filled and subsequently reversed at merely in the mid $370s... those fuckers), and if they do not side with me, then I am likely going to discontinue using their services and pull my bitcoins (and fiat) from their exchange.  

Again, this is really bullshit, and goes to show really bad judgement in their lack of credibility building foresight.

In the past 12 hours, I communicated with Gemini regarding my assessment of their decision to reverse trades, and I requested that at minimum they make me whole for such reversal and that they commit to changing their policy in such a way that in the future they are not going to reverse trades based on "customer error."   

I anticipate that most likely they will not comply with my request, and accordingly, absent some other materially relevant developments, I will need to remove all of my BTC from their exchange and to discontinue using their services. 

I would prefer to keep my account active with them, but if they do not commit to some form of non-reversals in the future (except for maybe in very extreme circumstances), then it seems too unreliable to continue to use their services. 

At this time, I have discontinued any attempted trades with them, except for a couple of real minor orders that had been outstanding still remain outstanding. and currently, I am thinking that I will give them a few days to respond to my earlier request before I take any further actions, such as removing my coins from their exchange.

[oldm8]

^OK. Didn't mean to back you into a corner like that, sorry. You're totally a successful trader with decades of experience.
(now your turn to tell me that you never doubted my being top Navy Seal with 300 kills)

I never doubted you were a seal, I too have caught around 300 fish this year and finished off one with my bear hands. On which subject you could get wiped out at 370 but by Christmas you should be able to close at 270 or even 230, Thanksgiving and Christmas are coming up and ordinary Joes will be cashing in a few of their precious coins to pay for the festivities, adding to supply. One thing Ive learnt watching this forum is never to say we will never see 450, 350, 250 again even at 220 we had a little panic and some lucky bastards with lowball bids picked up coins at 160 -180. Theres nothing worse than holding coins watching each gut wrenching step down to the next price band.  Of course I may be eating shit at Christmas while you all toast $600 with DP 2004 with Mr Rpietila.

[JayJuanGee]

Gemini trades rolled back.  



https://np.reddit.com/r/btc/comments/3ss6kr/gemini_is_reversing_trades_wtf/

So those traders who sold at $2000 and thought Christmas had come early get screwed. If Gemini had a safety mechanism the error wouldn't have happened, It should compensate the traders who lost out. Bter has a warning box when you place an order with an excessive price. If Bter can do it, Gemini should have done it.

It goes to show, there really is zero reason to ever sit fiat on an exchange.

I was negatively affected by this trade reversal decision, and I think that it is really bullshit and unprofessional for them to authorize a reversal based merely on user error.

If they were to authorize such reversal based on a technical glitch or a hacker, that would probably be a more justifiable reason.  

I'm going to attempt to communicate with them about honoring my trade (even if they personally have to absorb the cost (mine had been filled and subsequently reversed at merely in the mid $370s... those fuckers), and if they do not side with me, then I am likely going to discontinue using their services and pull my bitcoins (and fiat) from their exchange.  

Again, this is really bullshit, and goes to show really bad judgement in their lack of credibility building foresight.

In the past 12 hours, I communicated with Gemini regarding my assessment of their decision to reverse trades, and I requested that at minimum they make me whole for such reversal and that they commit to changing their policy in such a way that in the future they are not going to reverse trades based on "customer error."   

I anticipate that most likely they will not comply with my request, and accordingly, absent some other materially relevant developments, I will need to remove all of my BTC from their exchange and to discontinue using their services. 

I would prefer to keep my account active with them, but if they do not commit to some form of non-reversals in the future (except for maybe in very extreme circumstances), then it seems too unreliable to continue to use their services. 

At this time, I have discontinued any attempted trades with them, except for a couple of real minor orders that had been outstanding still remain outstanding. and currently, I am thinking that I will give them a few days to respond to my earlier request before I take any further actions, such as removing my coins from their exchange.

By the way, I should also clarify that the notice that I received from Gemini had additional language as follows:

"The customer who placed the order notified us immediately afterwards, and our team moved as quickly as possible to resolve the issue. Unfortunately, due to trading you performed in the hours in the hours between the erroneous trade and the reversal, you now have a negative balance in either the USD or BTC portion of your account. You will need to reach a non-negative balance before you can withdraw funds from your account."

Accordingly, since my subsequent trading activities resulted in a negative account balance, as a result of Gemini's trade reversal, there seems to have been a little more impact on my account as compared with someone who had experienced the trade reversal but had not engaged in any subsequent trading activities.

[ChartBuddy]

Coin



Explanation

[Tzupy]

310 in 1 hour or never.

I'd be satisfied with 310$ in 2 h...

You use to be bigger bear... 

Grrr, not satisfied...

[Hyperjacked]

^OK. Didn't mean to back you into a corner like that, sorry. You're totally a successful trader with decades of experience.
(now your turn to tell me that you never doubted my being top Navy Seal with 300 kills)

I'll tell what...Call Don Shipley and we will all get together for a beer next time your in Town.

Good deal, Leonardo. Or do your other professional Wall St. friends call you The Wolf?

Ignored! fake seal dude...hero in his own mind...don't care!

bye 

[AlexGR]

Gemini trades rolled back.  



https://np.reddit.com/r/btc/comments/3ss6kr/gemini_is_reversing_trades_wtf/

So those traders who sold at $2000 and thought Christmas had come early get screwed. If Gemini had a safety mechanism the error wouldn't have happened, It should compensate the traders who lost out. Bter has a warning box when you place an order with an excessive price. If Bter can do it, Gemini should have done it.

It goes to show, there really is zero reason to ever sit fiat on an exchange.

I was negatively affected by this trade reversal decision, and I think that it is really bullshit and unprofessional for them to authorize a reversal based merely on user error.

If they were to authorize such reversal based on a technical glitch or a hacker, that would probably be a more justifiable reason.  

I'm going to attempt to communicate with them about honoring my trade (even if they personally have to absorb the cost (mine had been filled and subsequently reversed at merely in the mid $370s... those fuckers), and if they do not side with me, then I am likely going to discontinue using their services and pull my bitcoins (and fiat) from their exchange.  

Again, this is really bullshit, and goes to show really bad judgement in their lack of credibility building foresight.

In the past 12 hours, I communicated with Gemini regarding my assessment of their decision to reverse trades, and I requested that at minimum they make me whole for such reversal and that they commit to changing their policy in such a way that in the future they are not going to reverse trades based on "customer error."   

I anticipate that most likely they will not comply with my request, and accordingly, absent some other materially relevant developments, I will need to remove all of my BTC from their exchange and to discontinue using their services. 

I would prefer to keep my account active with them, but if they do not commit to some form of non-reversals in the future (except for maybe in very extreme circumstances), then it seems too unreliable to continue to use their services. 

At this time, I have discontinued any attempted trades with them, except for a couple of real minor orders that had been outstanding still remain outstanding. and currently, I am thinking that I will give them a few days to respond to my earlier request before I take any further actions, such as removing my coins from their exchange.

By the way, I should also clarify that the notice that I received from Gemini had additional language as follows:

"The customer who placed the order notified us immediately afterwards, and our team moved as quickly as possible to resolve the issue. Unfortunately, due to trading you performed in the hours in the hours between the erroneous trade and the reversal, you now have a negative balance in either the USD or BTC portion of your account. You will need to reach a non-negative balance before you can withdraw funds from your account."

Accordingly, since my subsequent trading activities resulted in a negative account balance, as a result of Gemini's trade reversal, there seems to have been a little more impact on my account as compared with someone who had experienced the trade reversal but had not engaged in any subsequent trading activities.

Reading this: https://exchange.gemini.com/user-agreement

I don't get how they can get away with reversing transactions 

"The Exchange Ledger enables immediate settlement of sale or purchase transactions when the transacting accounts contain sufficient funds. "

"All buy transactions are purchases of Digital Assets with fiat currency that settle immediately from a pre-funded Fiat Account, are recorded on our Exchange Ledger. All sell transactions are sales of Digital Assets for fiat currency that settle immediately from a pre-funded Digital Asset Account and are recorded on our Exchange Ledger."


The "GEMINI INFORMATION ACCURACY, LIABILITY AND RISKS" part, is also saying that if you settle a transaction, or incur big losses, etc, etc, tough luck.

"v. for any transaction that is completed;
...
vi. for the price at which you buy or sell Digital Assets on Gemini;"

...
"Please also note the following risks in accessing or using Gemini:

i. The risk of loss in trading Digital Assets may be substantial and losses may occur over a short period of time."
...
v. transactions in Digital Assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable;


About reversals there is the "SYSTEM DISRUPTIONS OR MALFUNCTIONS" part, which is not really about user errors as I read it.