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

[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.

[BlindMayorBitcorn]

I have to admit I'm surprised most of you are still here. Nobody thinks this is the top yet? Really?

And so it was. Who knew?

[apuestascoin]

The top? This year 1000$ easy , non stop rally , all the corrections are good to buy

[TERA]

Longer test/consolidation of 660, or failure

[LFC_Bitcoin]

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.

Certain types of bears are endangered and in danger of extinction, that will be reflected here when we depart for the moon.

This 'dump' is nothing for anybody to be concerned about, onwards & hopefully soon significantly upwards.

[logictense]

I had a short, not satisfied with the intensity and loudness of pushers.

Sucker dump. Not a mans dump. Kitchen door revealed a balsamic aged female and she hit the wrong button on a wrong computer she shoudlnt have access to, and triggered the fire under ur fingerprints.

Tend ur wifes back to kitchen, we dont wanna be witnessing a precedent to housewife's fail.

Its supposed to be in a lockset with my prognosis. Wait it is. From my office I can see half of the tradingview gulls is in the queue at the diaper store.

Sell more.

[logictense]

Wont quote this ^ since the image is indeed relevant to the post. Apart from the image, it works quite the other way around. If ure longing tops and shorting bottoms then yeah bears love the dumps and ur view is the way to go.

[Tzupy]

Lovely dumps, but my bids are a bit lower, so please continue...

[podyx]

This is going deeper than I expected (expected it to cool off at 720-725)

[BlindMayorBitcorn]

[Torque]

I feel strongly that this may be the last time btc gets anywhere near sub-700 ever again.

Buy the dip. No, really.

[Meuh6879]

We Have find the Resistance, Sir ...