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

[ImI]

What's the reason for the dip? Whale decided do to sell?

Couldnt break 755$ resistance after several tries. -> Dumping.

[calme]

right now some of you leveraged folks are feeling a bit dead inside. trust me, i've been there. 

[600watt]

What's the reason for the dip? Whale decided do to sell?

Couldnt break 755$ resistance after several tries. -> Dumping.

does this mean that all the "big" volume chinese exchanges are nicely waiting for bitstamp to do the move, and if bitstamp says "no", them going to dump?

[calme]

it's hard for me to determine the relevancy of Bitstamp. Stamp was the exchange that screamed "dump time," given the ascending wedge. And yet, the big mainland exchanges in fact dumped.

[MR1]

What's the reason for the dip? Whale decided do to sell?

A classic ping pong scenario before the future bull run.

[ImI]

What's the reason for the dip? Whale decided do to sell?

Couldnt break 755$ resistance after several tries. -> Dumping.

does this mean that all the "big" volume chinese exchanges are nicely waiting for bitstamp to do the move, and if bitstamp says "no", them going to dump?

yes.

[klondike_bar]

What's the reason for the dip? Whale decided do to sell?

stabilize at 720-730, for a few days, and then push up again. either passes $760 and goes for $800, or deflects down back to $700 or $680 again

[600watt]

What's the reason for the dip? Whale decided do to sell?

Couldnt break 755$ resistance after several tries. -> Dumping.

does this mean that all the "big" volume chinese exchanges are nicely waiting for bitstamp to do the move, and if bitstamp says "no", them going to dump?

yes.

ok.
bitstamp dumped about 2,5 k btc

houbi dumped about 70-80 k btc.
btcc dumped about 50 k btc.
okcoin dumped about 30 k btc.

that is about 150 k btc on the three big chinese exchanges. those "big" volumes wait for the measly 2,5 k on stamp?

150 k chinese vol. has less power than 2.5 k slowenian vol.? my guess is that chinese volume is fake by the factor of 60.  

[ImI]

What's the reason for the dip? Whale decided do to sell?

Couldnt break 755$ resistance after several tries. -> Dumping.

does this mean that all the "big" volume chinese exchanges are nicely waiting for bitstamp to do the move, and if bitstamp says "no", them going to dump?

yes.

ok.
bitstamp dumped about 2,5 k btc

houbi dumped about 70-80 k btc.
btcc dumped about 50 k btc.
okcoin dumped about 30 k btc.

that is about 150 k btc on the three big chinese exchanges. those "big" volumes wait for the measly 2,5 k on stamp?

150 k chinese vol. has less power than 2.5 k slowenian vol.? my guess is that chinese volume is fake by the factor of 60.  

yes, i think so. chinese exchanges that drive the price are just a nice PR story for CNBC or Bloomberg but no reality if you follow the markets.

[JimboToronto]

Good morning Bitcoinland.

So we finally got our first real correction/profit-taking after a week of pretty steadily rising prices.

Up $70 and down $30... all the way to $737 (Bitcoinaverage)

Not too bad for a weekend dump but nowhere close to what I'd call a buying opportunity.

Maybe next time.

[Ted E. Bare]

Not bad, not bad.

[leowonderful]

Well, we didn't break 750 for very long and we fell back because of that. Not too terrible, bad place to buy imo but we should be right back up to where we were in a week or less. We're still higher than we were a month and even 2 weeks ago, so that's a start. Dropping below 700 is pretty unlikely imo, but it could happen still.

[600watt]

^^first post = ignore forever. lol.

[JimboToronto]

Gotta love this place. We dip to above where we were 4 days ago and instantly a bunch of noob trolls with random 6-character alphanumeric user names start troll threads. LOL

Bears just love dumps. They remind them of home.

[JimboToronto]

^^first post = ignore forever. lol.

Did I just mention "noob trolls with random 6-character alphanumeric user names"?



Kwuk kwuk baa baa.

 

[the artful bodger]

Well, we didn't break 750 for very long and we fell back because of that. Not too terrible, bad place to buy imo but we should be right back up to where we were in a week or less. We're still higher than we were a month and even 2 weeks ago, so that's a start. Dropping below 700 is pretty unlikely imo, but it could happen still.

About three days ago it went down to 730, then went back up again. Today it's gone down to 720, which is only 10 lower. It will probably continue playing ping pong between 700 and 750 for the next few weeks.

For the Chinese traders the price is still holding above 5000 CNY, and as long as it stays above it's not going below $700.

[becoin]

The seller will have to cover their shorts by Monday morning. So, I'm not going to miss this buy opportunity.

[Ted E. Bare]

#alphanumeric

[600watt]

What's the reason for the dip? Whale decided do to sell?

Couldnt break 755$ resistance after several tries. -> Dumping.

does this mean that all the "big" volume chinese exchanges are nicely waiting for bitstamp to do the move, and if bitstamp says "no", them going to dump?

yes.

ok.
bitstamp dumped about 2,5 k btc

houbi dumped about 70-80 k btc.
btcc dumped about 50 k btc.
okcoin dumped about 30 k btc.

that is about 150 k btc on the three big chinese exchanges. those "big" volumes wait for the measly 2,5 k on stamp?

150 k chinese vol. has less power than 2.5 k slowenian vol.? my guess is that chinese volume is fake by the factor of 60.  

yes, i think so. chinese exchanges that drive the price are just a nice PR story for CNBC or Bloomberg but no reality if you follow the markets.

it does not fit with the other part of the story: https://www.reddit.com/r/Bitcoin/comments/5dy9tg/we_have_tried_to_calculate_the_amount_of_money/?st=ivqye9d3&sh=308a9ae8

We have tried to calculate the amount of money that the Chinese have invested in mining, we estimate it to be in the hundreds of millions of dollars. Even with free electricity we cannot see how they will ever get this money back. - KNC CEO

weird.

[ImI]

What's the reason for the dip? Whale decided do to sell?

Couldnt break 755$ resistance after several tries. -> Dumping.

does this mean that all the "big" volume chinese exchanges are nicely waiting for bitstamp to do the move, and if bitstamp says "no", them going to dump?

yes.

ok.
bitstamp dumped about 2,5 k btc

houbi dumped about 70-80 k btc.
btcc dumped about 50 k btc.
okcoin dumped about 30 k btc.

that is about 150 k btc on the three big chinese exchanges. those "big" volumes wait for the measly 2,5 k on stamp?

150 k chinese vol. has less power than 2.5 k slowenian vol.? my guess is that chinese volume is fake by the factor of 60.  

yes, i think so. chinese exchanges that drive the price are just a nice PR story for CNBC or Bloomberg but no reality if you follow the markets.

it does not fit with the other part of the story: https://www.reddit.com/r/Bitcoin/comments/5dy9tg/we_have_tried_to_calculate_the_amount_of_money/?st=ivqye9d3&sh=308a9ae8

We have tried to calculate the amount of money that the Chinese have invested in mining, we estimate it to be in the hundreds of millions of dollars. Even with free electricity we cannot see how they will ever get this money back. - KNC CEO

weird.

china is strong in the mining business, yes. but exchanges with big daily volume are another story.