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

[Dafar]

So wait... can't I just copy/paste my BTC and have double the BTC? 

[JayJuanGee]

[...] Personally, I don't really know. I do have some BFX coin tied up with them that I don't really want to cash out [...]

[...] there are some of these goofy and apparent warning signs coming from Bitfinex, I may be somewhat in agreement that it could be prudent for me to lessen my Bitfinex exposure even more.. [...]

Then you better get those BFX coins of Bitfinex and put them in cold storage.

/s

You should understand that there is no one way of accomplishing goals or spreading out risk.


If you understand the situation, Bitfinex converted about 36% of whatever value folks had on the Bitfinex at the time of the "hack" into BFX coins.  Some folks sold those coins as soon as Bitfinex went live, and got the hell out of there. Other folks held onto some of those coins or sold portions of those coins.  I am in the second category, and I chose to remain in the second category based on my current assessment of the situation. 

Yeah, sure, your assessment of what to do in the present based on anticipation of the future seems to be different than mine, but who the fuck cares?  Each of us chooses based on your own situation about what we are going to do and about how we are going to allocate risk, and I think that it is pretty likely that you have little to no clue about my particular situation and you are just barking out unsolicited "advisements" in a vacuum that is based on your situation or based on a large variety of assumptions that may or may not be fitting to my situation.

[marcus_of_augustus]

didn't think the "chinese officials rumours" trick still had any legs in it ... sooner the idiot traders get fleeced of all their bitcoins the better.

WTF is up with the bitfinex WALL ... guys??

[UnDerDoG81]

Bitcoin has become so predictable for a while now. Price tanks, FUDs coming out, it drops, than a dead cat bounce and it drops further. Then it starts tanking again slowly. So @730 I thought "it´s sell time". After a while FUDs came out (China bans BTC bla bla). But since I hodl for 2 years now I was just speculating. Whatever, after 730 I saw it dropping to 680 and then bouncing back to 700, I thought "clearly dead cat bounce, good time to sell again". Now its back to 680 and I guess it will stop at the 500s. I lived through this scheme for 2 years now. Yet I don´t have the balls to listen to my gut 

[smith1023]

move along
nothing to see here
tomorrow we keep flying towards the moon

[JayJuanGee]

didn't think the "chinese officials rumours" trick still had any legs in it ... sooner the idiot traders get fleeced of all their bitcoins the better.

WTF is up with the bitfinex WALL ... guys??

The fact of the matter seems that we were due for a correction, and likely any excuse helps...

Really going up about 25% from $610 to $750 without any meaningful correction? Especially after several months of relatively flat prices... ?  This current price performance remains within the realm of rational expectations, no?

[rjclarke2000]

This morning the plan was to have private island by Saturday. Fuck you China.

[Vahnt]

I think this ultimately either ends in a very bullish cup and handle pattern which ends up breaking through prior high and up towards new levels, or we just grind down to low 600's for the next month or two and bottom out in January-ish.

[rjclarke2000]

Has anyone else seen masterluc's prediction on the 'Analysis' thread?

Seems like it may happen.

[doc12]

Seems like we have a double bottom...

[Master mind]

Seems like we have a double bottom...

[Ted E. Bare]

Btc corrections after a multi week rally are typically violent and steep. This is nothing.  I called this yesterday.  It's still pretty bullish at this level.  You can start worrying of it goes below 650.

Good call TERA! So you agree that if we stay around $680 the uptrend will eventually continue? It seems as if the most violent dumping is behind us.

[JayJuanGee]

Seems like we have a double bottom...

yeah, additional dip down to lower $670s, so still seems to be too early to call. 

I personally am looking for a big volume dump and reversal - even though that is not a condition precedent that is required for a reversal.. In other words, we could still have a reversal at this point... even without any kind of meaningful battle.

[MovieBTC]

A new day. chart's just resetet. +0.45% Kraken. time for sleep, let's see what the day gives.

[marcus_of_augustus]

major earthquake window opens Nov. 11-17 ... be prepared if you are in/near fault zones.

[TERA]

That was one hell of a 1 minute candle going up 100 yuan.

[yefi]

So, flash crash and rebound or a longer downturn and another round of consolidation?

[Killerpotleaf]

what's going to happen to supply once they put up the great bitcoin firewall, and coins can no longer freely flow out of china?    

[JayJuanGee]

Seems like we have a double bottom...

[http://shrani.si/f/1f/tG/prbjnGN/2/image.jpg[/img]

yeah, additional dip down to lower $670s, so still seems to be too early to call. 

I personally am looking for a big volume dump and reversal - even though that is not a condition precedent that is required for a reversal.. In other words, we could still have a reversal at this point... even without any kind of meaningful battle.

I hate to quote myself, but since I am writing a continuation of the same topic, maybe it is just as good to quote myself?

Our price increase from $610 to $750 was nearly a 25% increase without any meaningful correction, and then this little bout today seems to have allowed for a bit more than a 50% retracement of that price increase, but then currently, we are floating around the 35% area of retracement.

That does seem like a sufficient enough correction and attempt to push prices down, but really we cannot really know whether bears or bulls are running out of ammo, even during what had seemed a pretty decent upwards price movement.

I am kind in the belief that our odds for continuing upwardly remain a bit better than our odds of further correction or changing direction - even though it could take a week or so for this train to continue its upward journey. - and maybe a test of upper $700s before the end of the month?  And I phrase that as a question because I become less sure the further out I attempt to predict and the higher the price that I attempt to predict.

[TERA]

Bitfinex has lost 60% of its bid depth since last night.