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

[chopstick]

I don't see why anyone is surprised by the drop. I've watched BTC's price since 2012. I've seen almost all the bubbles. This has only happened a thousand times already.

BTC has fundamental issues that still need to be solved before "moon" can finally be reached. And I don't think "moon" is anything less than 10K+, which we all know bitcoin is capable of if it's finally allowed to reach its full potential.

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[Fakhoury]

I don't see why anyone is surprised by the drop. I've watched BTC's price since 2012. I've seen almost all the bubbles. This has only happened a thousand times already.

BTC has fundamental issues that still need to be solved before "moon" can finally be reached. And I don't think "moon" is anything less than 10K+, which we all know bitcoin is capable of if it's finally allowed to reach its full potential.

Actually I see it as a bullish, it Bitcoin was not that important in China, they wouldn't bother with it

[chopstick]

There is no doubt in my mind that the peoples of this world desperately need cryptocurrency. They NEED bitcoin.

Governments all over the world are trying to eliminate cash, they are confiscating gold, stealing wealth from the people. They want all your money in a bank account so it can be tracked or taken from you at any time.

The Central Bankers, in their endless greed profit from this system in many ways, endlessly concentrating the vast majority of the world's wealth in the hands of only a few dozen people. This is creating untold suffering and a system of economic slavery that is destroying the planet itself.

The fucking world needs this fucking technology to succeed, god damn it.

We better get our fucking shit together and make this shit fucking work. The scaling issue MUST be solved, one way or another. Core needs to get on board or they need to get kicked the FUCK out.

This isn't just about personal profit, although we will all certainly be billionaires if we succeed. A convenient side effect.

But what it's really about is breaking the yoke of oppression that has been forced on this world by those who have betrayed humanity itself for their own personal wealth.

That's all I have to say.

[gembitz]

[molecular]

Either this will hold now or we will go down to ~850USD is my guess.
Touching the lower bband in the hourly and the mid bband in the daily.

From the times today.....

....

....
23 years old??
....

Satoshi mined thousands of BTC secretly for years before releasing anything to public in 2008. HUGE dump coming soon! ..  

"thousands in years"? lol.

he *actually* mined roughly a million without any supposed fuckery.

[molecular]

Under the assumption that we are currently forming the handle of a three year cup and handle, how low would the price need to go and how low could it go?

A very good question!

As a rule of thumb the handle can retrace up to 1/3rd of the runup from the floor to the rim.

If we put the floor to roughly 220 and the rim to 1100, we could go down as much as ( 1100 - 220 ) / 3 = 293. That would put the breaking point of this pattern at USD 807.

Incidentally that point ($800) is interesting for other reasons:

• it's the point where the rally really picked up steam and the trend got a lot steeper
• if you believe in "matroska cup & handle" pattern, 800 was the rim of the previous cup

Now let me pray $800 will hold.

[Paashaas]

So China "bans" BTC once again?  Old Chinese trick LOL

Funny thing is they never said anything about banning. They just say "manage your risk".

Exactly LOL

Deliberated attempt to stop the rocket.

Now we all see how idiotic sheeps are...

[molecular]

Under the assumption that we are currently forming the handle of a three year cup and handle, how low would the price need to go and how low could it go?

A handle tends to be a drop of between 30% and 50% from the top of the cup rim (i.e. between $587 and $820)

source?

I got "1/3 of the runup but not more" from http://www.stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:cup_with_handle_continuation

EDIT: of course this is bitcoin and there's some leeway. I'd still like to see your source.

[ErisDiscordia]

Got greedy, cancelled the order and moved it up somewhat...serves me right! 

[Torque]

Couldn't see this posted already:

Officials from the People's Bank of China (PBOC) met with representatives of major bitcoin exchanges this week to urge their compliance with "relevant laws and regulations", according to statements from the central bank.

In total, two press releases were issued today, one by the PBOC's office in Beijing, the other by its Shanghai regional office, in which they revealed the meetings, as well as some information about what was discussed behind closed doors.

http://www.coindesk.com/chinas-central-bank-issues-warnings-major-bitcoin-exchanges/

It doesn't sound like a ban - just 'caveat emptor' (buyer beware).

So 'China ban' is pure FUD

Yep
https://twitter.com/SatoshiLite/status/817367976961830914

[offliberty]

https://s27.postimg.org/hmfmb959f/ffs01.png
https://s27.postimg.org/ccanjyl0j/ffs02.jpg

Got greedy, cancelled the order and moved it up somewhat...serves me right!  

Didn't have this chance and now stuck with a running position which I can't reasonably close. Sometimes you've got to thank your intuition (or bugs, on Kraken)  

[Torque]

If you look at the charts, even a partially blind man can see that the leveraged pumping began in earnest on 12/20, when bitcoin price was around $800.

Not trying to be a bear and saying that the price will walk all the way back down to there.  But if it got down to mid-800s for a while, I can't really say I'd be surprised.  The buying from 12/20 onward was just a massive pump, likely from only a few colluding traders.  

It certainly wasn't a mad rush by Average Joes all over the world, they were much too busy buying XMas presents and getting drunk to care.  

I would say $800 is definitely a floor.

[molecular]

If you look at the charts, even a partially blind man can see that the leveraged pumping began in earnest on 12/20, when bitcoin price was around $800.

Not trying to be a bear and saying that the price will walk all the way back down to there.  But if it got down to mid-800s for a while, I can't really say I'd be surprised.  The buying from 12/20 onward was just a massive pump, likely from only a few colluding traders.  

It certainly wasn't a mad rush by Average Joes all over the world, they were much too busy buying XMas presents and getting drunk to care.  

I would say $800 is definitely a floor.

I share your views on the $800 level to a large extent.

As for reasons, I'm not sure it was "colluding traders", at least not only. This doesn't really matter much to me, though. It's clear (in hindsight) that something happened at $800 (even if it's just a cup & handle playing out or other technical reasons) and that this "something" was a bit over the top and had to correct.

From these views you correctly deduct that $800 should hold.

[Torque]

https://twitter.com/bobbyclee/status/817371073108815872

And yet in early 2015, when grannie and grandpa Chen were lining up at their local Chinese bank, withdrawing their entire retirement savings and dumping it into the Chinese stock market @ 10X leverage, the PBOC said nothing to them about sound investment in "volatile markets", and "risks".  

[harrymmmm]

It's worthy of note that the majority of this dump occurred the day BEFORE this meeting with pboc.
So either the btc exchanges did a bit of insider trading, or the pboc saw the dump and reacted faster than the speed of light

[hulla]

what do you think about  for about 55000 unconfirmed transactions ?

is this a spamming to blockchain again?

https://blockchain.info/unconfirmed-transactions

It was down to 25220 Unconfirmed Transactions now. Out of curiosity. Does this any chance among the thing that beat down the price bitcoin to $909?

[gembitz]

So China "bans" BTC once again?  Old Chinese trick LOL

Funny thing is they never said anything about banning. They just say "manage your risk".

Exactly LOL

Deliberated attempt to stop the rocket.

Now we all see how idiotic sheeps are...

#myteam

 

[HI-TEC99]

There's a small 555 BTC ask wall at $920 on stamp. If it gets eaten the price could go back up quickly in the short term. There's been a bit of buying up close to it in the last hour. Will it get pulled, or eaten?

[tabnloz]

There is no doubt in my mind that the peoples of this world desperately need cryptocurrency. They NEED bitcoin.

Governments all over the world are trying to eliminate cash, they are confiscating gold, stealing wealth from the people. They want all your money in a bank account so it can be tracked or taken from you at any time.

The Central Bankers, in their endless greed profit from this system in many ways, endlessly concentrating the vast majority of the world's wealth in the hands of only a few dozen people. This is creating untold suffering and a system of economic slavery that is destroying the planet itself.

The fucking world needs this fucking technology to succeed, god damn it.

We better get our fucking shit together and make this shit fucking work. The scaling issue MUST be solved, one way or another. Core needs to get on board or they need to get kicked the FUCK out.

This isn't just about personal profit, although we will all certainly be billionaires if we succeed. A convenient side effect.

But what it's really about is breaking the yoke of oppression that has been forced on this world by those who have betrayed humanity itself for their own personal wealth.

That's all I have to say.

this.

Good article on who is behind India's demonetization

"A Well Kept Open Secret"

http://www.globalresearch.ca/a-well-kept-open-secret-washington-is-behind-indias-brutal-demonetization-project/5566167

[ImI]

There will be one more dump to about 700/650 and then it will go up again.

no, there won't. 

We wait to tomorrow and see who is right If The price drops to my prediction dont forget to comment

Where are you my friend?