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

[MatTheCat]

Shorts are up 3.5k since the top. Longs at 22mil$.

Outwith Dec 2015, Shorts on BFX have never been so low in over a year.

Longs are also relatively low, but you would have to go all the way back to March 2015 to find a period where long positions on BFX were comfortably lower than they currently are.

But probs we need to be looking at CNY markets to get a better picture of this, as it is China that is driving BTC at the time being.

[Tzupy]

I think this has hit the bottom and it is time for a nice fat bounce. Some traders will have hard time to cover their shorts on Bitfinex.

not much shorts to cover

I tried to close my short, but something is wrong at Bitfinex, didn't properly execute, so my profit is diminishing. Also doesn't look right at Bitcoinwisdom.

[-Greed-]

We are here. Long way to go is ahead.

[gotmilk_]

Hah Bitfinex traders getting fucked up again   You know what is the fastest way to get out you money...

7k bid on OKcoin!

Shorts are up 3.5k since the top. Longs at 22mil$.

Outwith Dec 2015, Shorts on BFX have never been so low in over a year.

Longs are also relatively low, but you would have to go all the way back to March 2015 to find a period where long positions on BFX were comfortably lower than they currently are.

But probs we need to be looking at CNY markets to get a better picture of this, as it is China that is driving BTC at the time being.

But they are at the highest level since 390$!

[MatTheCat]

I think this has hit the bottom and it is time for a nice fat bounce. Some traders will have hard time to cover their shorts on Bitfinex.

not much shorts to cover

I tried to close my short, but something is wrong at Bitfinex, didn't properly execute, so my profit is diminishing. Also doesn't look right at Bitcoinwisdom.

Not the only exchange that is misbehaving today....

was locked out of both Huobi and Kraken as the obvious precipice approached.

[Tzupy]

I think this has hit the bottom and it is time for a nice fat bounce. Some traders will have hard time to cover their shorts on Bitfinex.

not much shorts to cover

I tried to close my short, but something is wrong at Bitfinex, didn't properly execute, so my profit is diminishing. Also doesn't look right at Bitcoinwisdom.

Not the only exchange that is misbehaving today....

was locked out of both Huobi and Kraken as the obvious precipice approached.

Actually it executed at the right price, but didn't show up for several minutes. And now it's kicking again at Bitcoinwisdom.

[peonminer]

I think this has hit the bottom and it is time for a nice fat bounce. Some traders will have hard time to cover their shorts on Bitfinex.

not much shorts to cover

I tried to close my short, but something is wrong at Bitfinex, didn't properly execute, so my profit is diminishing. Also doesn't look right at Bitcoinwisdom.

Finex is fuxed again. Transfers between wallets is hanging, too. Support has yet to get back to me.

EDIT: Seems fixed for now.

Full steam sink ahead captain operator

[ChartBuddy]

Coin



Explanation

[fisheater22]

Wait, so we're below 440 AGAIN?
How is this possible?!

[gotmilk_]

I think this has hit the bottom and it is time for a nice fat bounce. Some traders will have hard time to cover their shorts on Bitfinex.

not much shorts to cover

I tried to close my short, but something is wrong at Bitfinex, didn't properly execute, so my profit is diminishing. Also doesn't look right at Bitcoinwisdom.

Not the only exchange that is misbehaving today....

was locked out of both Huobi and Kraken as the obvious precipice approached.

Actually it executed at the right price, but didn't show up for several minutes. And now it's kicking again at Bitcoinwisdom.

I'm surprised you're actually still trading on Bitfinex. It has more problems that MtGox had.

[rpietila]

Follow the weekly Bitstamp chart. If it closes green for 6 times in a row, we are on bubble territory (currently 4 consecutive weekly greens). If we instead end this week in red, there is nothing to worry.

IF we get 6 greens, this means we can go on for a long time still but watch for a blowoff top and trade accordingly.

The methodology worked perfect in the latest 500 spike, and you can easily check a very good match with all previous bubbles as well.

[peonminer]

My raging clues say crypto is so done right now



Can you say, "dead cat bounce'?

Yeah, longs are going to be crying when those floors get pulled. Pwnz0r'd.

[peonminer]

Lots of old coins moving lately

[billyjoeallen]

Follow the weekly Bitstamp chart. If it closes green for 6 times in a row, we are on bubble territory (currently 4 consecutive weekly greens). If we instead end this week in red, there is nothing to worry.

IF we get 6 greens, this means we can go on for a long time still but watch for a blowoff top and trade accordingly.

The methodology worked perfect in the latest 500 spike, and you can easily check a very good match with all previous bubbles as well.

First TERA and now Risto- we're getting the band back together!

[adamstgBit]

we'll be at >500 soon, but <400 sooner.

[Tzupy]

...
I'm surprised you're actually still trading on Bitfinex. It has more problems that MtGox had.

I have a Kraken account, but am not currently using it. The level of complaints about reliability seems higher for Kraken...

[rpietila]

we'll be at >500 soon, but <400 sooner.

Fibonacci rules as always. Target is 380, but the situation is so bullish I am not trading off chances. Just wait until we get the 6 consecutive weekly green candles and then try to time the top. 20% daily rise is pretty good sign, 30% (on top of the exponential rise) is a sure sign.

[BlindMayorBitcorn]

Follow the weekly Bitstamp chart. If it closes green for 6 times in a row, we are on bubble territory (currently 4 consecutive weekly greens). If we instead end this week in red, there is nothing to worry.

IF we get 6 greens, this means we can go on for a long time still but watch for a blowoff top and trade accordingly.

The methodology worked perfect in the latest 500 spike, and you can easily check a very good match with all previous bubbles as well.

First TERA and now Risto- we're getting the band back together!

[macsga]

we'll be at >500 soon, but <400 sooner.

Fibonacci rules as always. Target is 380, but the situation is so bullish I am not trading off chances. Just wait until we get the 6 consecutive weekly green candles and then try to time the top. 20% daily rise is pretty good sign, 30% (on top of the exponential rise) is a sure sign.

I concur; more than 500 within the week (maybe later tonight).

[sx100]

...
I'm surprised you're actually still trading on Bitfinex. It has more problems that MtGox had.

I have a Kraken account, but am not currently using it. The level of complaints about reliability seems higher for Kraken...

What sort of complaints? Is it only can't log in, and trading engine complaints, or are there also complaints about withdrawals and deposits?

The kraken does leverage so getting locked out when you need to close your position is unacceptable. If your withdrawals also get frozen then that exchange shouldn't have been selected to help reimburse the gox coins.