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

[SnokkomBTC]

And China doesn't give a shit about US

[1714166747]

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[1714166747]

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[1714166747]

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[savetherainforest]

huobi froze and wouldn't let me trade any of that..
It's a conspiracy..

Maybe circuit breakers or something...





Btw... who made more than 10% on this madness ??    

[Tzupy]

huobi froze and wouldn't let me trade any of that..
It's a conspiracy..

Maybe circuit breakers or something...


Btw... who made more than 10% on this madness ??   

I could have, but closed my short too early, so only made 1 / 3 of the potential...

[BlindMayorBitcorn]

[becoin]

Lol.  Good thing I have no bitcoins in an exchange.  If I had some I'd sell em all.  That was scary, y'know.  
Better start transferring just in case...

You'd better stay away from exchanges! Such moves indicate that at least one major exchange is in trouble and is playing "va banque".

[ft73]

Final leg incoming.
My suggestion: watch out and keep your finger ready on that sell button.

Not really... I'm expecting this to go on for at least another 2-3 days.  
(if not 1-2 weeks)


*Edit: Basically we first need to go to $3k - 8k$ ... then a few months later somewhere between $35k <-> $120k.  

Good luck with that.

As expected  
I'd say watch out for 1020-1030$ (and dead cat bounce)

[Denker]

So the question is if this is the big pullback some expected to happen, down to at least $960.
Or is this just a short pit stop for the whales to recharge batteries and then go full throttle to break ATH in USD?
Will be some interesting hours to watch the charts if you ask me.

[tabnloz]

8,800 Incoming... I said it before, and say it again:

Indicators are meaningless when the Chinese are just printing fiat money infinitely. You have to keep in mind the Chinese have been printing unlimited amounts of fiat at a faster pace than anyone else, but try to prevent it from leaving the country on the official fiat money exchange rates. They will try to maintain a fiat exchange rate fix as long as possible, so they maintain purchasing power, but it is really just like Monopoly money to them. Bitcoin/crypto may be a way of escape.


8,800? I mean why not right?

Yeah. Continuing devaluation and rumors of capital controls.

8,850 Why not??? Just print moar fiat! No problem!

It's not really the "money printing", its the loss of purchasing power (symptom of this though; devaluation and strengthening USD), and fear of being locked in to a devaluing currency. It's part of a bigger trend. Bitcoin is just a protocol and conduit.

Limitless Unrestrained money printing via fractional reserve banking = Loss of purchasing power. Even with the fixed exchanged rate of CNY/USD. The thing is it is a fixed exchange rate = fake exchange rate; if all restrictions were lifted and we had a free market exchange rate what you would see is exactly what your are seing in CNY/BTC.

Don't just blame "money printing" for the devaluing yuan. It is part of the currency wars & geopolitics. The rising USD puts pressure on the Chinese peg vs competitors like Vietnam, Sth Korea etc. (It isn't a fixed exchange rate but a pegged one. It is set daily.)

The Chinese also have a huge amount of debt in their economy. When demand for credit dries up or GDP declines, they just lower their reserve ratio requirements (amounts banks need to keep in reserve) when it wants the banks to lend more / extend credit. Again, probably not a good thing.

As I said, it isn't exactly the money printing but the loss of purchasing power and expectation of continued devaluation that are symptoms of this.

But you bring up an important point. A country can't have a pegged exchange rate, an open capital account and an independent monetary policy operating at the same time. This is called the 'impossible trinity'. It was this combo that 'broke the bank of england' (George Soros famous sterling short). In this situation, something has to give. China is trying to manage this & take the pressure of its economy by devaluing the Yuan, but as it does Chinese are incentivized to move their assets out of the country. This could lead to capital controls. The PBOC might also use FX reserves to defend their currency.

[ft73]

So the question is if this is the big pullback some expected to happen, down to at least $960.
Or is this just a short pit stop for the whales to recharge batteries and then go full throttle to break ATH in USD?
Will be some interesting hours to watch if you ask me.

So you're expecting a single big pullback?
Unlikely imho.

[savetherainforest]

Lol.  Good thing I have no bitcoins in an exchange.  If I had some I'd sell em all.  That was scary, y'know.  
Better start transferring just in case...

You'd better stay away from exchanges! Such moves indicate that at least one major exchange is in trouble and is playing "va banque".

the W pattern is on track... and the rocket is refueled..

[Bitcoinb0b]

huobi froze and wouldn't let me trade any of that..
It's a conspiracy..

Maybe circuit breakers or something...


https://i.imgur.com/lgnvzk6.gif


Btw... who made more than 10% on this madness ??    


https://i.imgur.com/pHXZ5rj.gif

I made 200%+ on a leveraged short.

[Cassius]

So the question is if this is the big pullback some expected to happen, down to at least $960.
Or is this just a short pit stop for the whales to recharge batteries and then go full throttle to break ATH in USD?
Will be some interesting hours to watch if you ask me.

So you're expecting a single big pullback?
Unlikely imho.

What was the crash to $900 then?!

We're back to close on $1100 already. Volume of the drop was significant, but nothing like the preceding green candles, which dwarf anything in the previous week. TL;DR I'd want to see a lot more indication that the rally is running out of steam. We needed a pullback and there was something fishy about that correction, but it still serves a purpose.

[savetherainforest]

huobi froze and wouldn't let me trade any of that..
It's a conspiracy..

Maybe circuit breakers or something...





Btw... who made more than 10% on this madness ??    

I made 200%+ on a leveraged short.

Not possible! ... maybe you bought ... like I did when it was somewhere under 200$ and that would make me 600% ... but... on this singular trade u couldn't make more than 17-18% swinging with u'r full BTCiTcoin account weight!

[Bitcoinb0b]

huobi froze and wouldn't let me trade any of that..
It's a conspiracy..

Maybe circuit breakers or something...


https://i.imgur.com/lgnvzk6.gif


Btw... who made more than 10% on this madness ??    


https://i.imgur.com/pHXZ5rj.gif

I made 200%+ on a leveraged short.

Not possible! ... maybe you bought ... like I did when it was somewhere under 200$ and that would make me 600% ... but... on this singular trade u couldn't make more than 17-18% swinging with u'r full BTCiTcoin account weight!



https://i.imgur.com/6OM6Qb9.jpg

Maybe you should do some research on trading futures.

[savetherainforest]

Maybe you should do some research on trading futures.

Ah... sry.. didn't read the "leveraged" part.

But I think u'r one of those r-Tards that gamble away their future!

I don't like people like you! ... I just play it safe with simple trades.


*edit:   And its because people like you sometimes the world crashes in crumbles and burns!

[eddie13]

Maybe you should do some research on trading futures.

Ah... sry.. didn't read the "leveraged" part.

But I think u'r one of those r-Tards that gamble away their future!

I don't like people like you! ... I just play it safe with simple trades.

Ha, yes, us evil leveraging traders be damned..

[rjclarke2000]

Is bitcoin dead yet?

[Bitcoinb0b]

Maybe you should do some research on trading futures.

Ah... sry.. didn't read the "leveraged" part.

But I think u'r one of those r-Tards that gamble away their future!

I don't like people like you! ... I just play it safe with simple trades.


*edit:   And its because people like you sometimes the world crashes in crumbles and burns!


https://i.imgur.com/PCfb2I0.jpg

Trust me, I know a bit about gambling and bank roll management. I play poker professionally.

[Fakhoury]

And China doesn't give a shit about US

It did give actually, see OKCoin.

[Fakhoury]

Is bitcoin dead yet?

Nope, I don't know why no one mention the HUGE CUP & HANDLE ON THE CHARTS.

Most probably now is that the handle is being created.