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

[gembitz]

Who's to say China won't release another "warning" about bitcoin when we're approaching $1100 again or $1500, etc.?

This is not all about China.
 
You are giving way too much credit to one factor

You mean China?

^LOL Cshyyyynah 

[rebel69]

should i sell my btc before btc reaches $0.60 a coin again??
im so scared guys!!!!
is there a website where i can anonomously short or long my btc??

[K~Ehleyr]

should i sell my btc before btc reaches $0.60 a coin again??
im so scared guys!!!!
is there a website where i can anonomously short or long my btc??

If you think it's going to drop that low, why did you just buy in in the first place?  Just calm down and HODL.  As long as you can wait for a couple of months all will be well 


PS.  Good morning folks!  So much for my plan to stay away 

[slap]

should i sell my btc before btc reaches $0.60 a coin again??
im so scared guys!!!!
is there a website where i can anonomously short or long my btc??

Yeah, try margin trading, it will help sooth your nerves lol

[orpington]

should i sell my btc before btc reaches $0.60 a coin again??
im so scared guys!!!!
is there a website where i can anonomously short or long my btc??

Sell at $0.65

[rebel69]

should i sell my btc before btc reaches $0.60 a coin again??
im so scared guys!!!!
is there a website where i can anonomously short or long my btc??

Yeah, try margin trading, it will help sooth your nerves lol

thanks

[orpington]

should i sell my btc before btc reaches $0.60 a coin again??
im so scared guys!!!!
is there a website where i can anonomously short or long my btc??

Yeah, try margin trading, it will help sooth your nerves lol

thanks

Yes. Margin trading is more relaxing than yoga and meditation combined.

[r0ach]

http://www.youtube.com/watch?v=VdQY7BusJNU

[K~Ehleyr]

That ask side is looking pretty big and growing. What does that indicate?

[savetherainforest]

That ask side is looking pretty big and growing. What does that indicate?

I'm contemplating on buying more... but the bank transfer takes 1-2 days.

[kurious]

That ask side is looking pretty big and growing. What does that indicate?

I think we were allowed to pop up to 888-ish, but any more will be tough right now.

If Tzupy is right there is one more leg down due in the next couple of days, and he's called it pretty well so far.   I have no crystal ball - but this rise feels a little more like a fluctuation than a trend reversal.

[rjclarke2000]

That ask side is looking pretty big and growing. What does that indicate?

So basically someone or something is keeping us from going up. This right?

[Denker]

Oh man it is crazy how fast mood is changing here!
From "to da moon" to "oh my god we're done".
As a long hodler it is really relaxing to sit on the sideline and watch all those headless chickens running in cirlces.
In times of some solid consolidation like this one I always try to buy a bit BTC when I can and that's it. Accumulate and hodl!!
Forget about the short and mid term ups and downs!

[kurious]

That ask side is looking pretty big and growing. What does that indicate?

So basically someone or something is keeping us from going up. This right?

Not necessarily that - just buyers who grabbed coins at sub 820 offering them for sale over 890.   Can't blame 'em.

[toknormal]

That ask side is looking pretty big and growing. What does that indicate?

It indicates that traders think the price is about to rise and are placing asks at levels where they can earn quick returns on the spikes, buying back in very quickly after the sell. (Market depth often works opposite to expected trends in this way).

Momentum stabilising nicely after that dump. Continuing to get pulled around. 2-hour chart is already green. Off order-book bids hovering and waiting for the right place to "get in".

[gembitz]

Oh man it is crazy how fast mood is changing here!
From "to da moon" to "oh my god we're done".
As a long hodler it is really relaxing to sit on the sideline and watch all those headless chickens running in cirlces.
In times of some solid consolidation like this one I always try to buy a bit BTC when I can and that's it. Accumulate and hodl!!
Forget about the short and mid term ups and downs!

^follow the momentum !!!     " don't pick up the knife till it hits the floor.. "

[rebel69]

where could i find these btc charts?

[notme]

where could i find these btc charts?

cryptowat.ch
bitcoinwisdom.com
bitcoincharts.com
bitcoinaverage.com

But, based on your previous posts, my recommendation would be to pick a dollar (or whatever your local currency is) amount you can afford to lose and buy that much each week.  Don't look at the charts other than on your purchase day for a year.  By that time, you should have a decent position in the green and a better feel for how this market moves.  Until then, just stick to a simple plan.

[gembitz]

 

woof!

[Tzupy]

Support broken. Looks like we are in the middle of the second leg down of A.

Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY.

China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream.

I never margin trade, but this is a moment I would expect some smart types to go long.

You still think we have further to go down?

I am not criticising - given your recent prescience, I am asking.

Quite likely to go further down, but not right now. Go long only for scalping.

At last the Chinese dumped (as usually, started at 3.45 am my time, while I was asleep), probably completed the second leg down of A. This took too long and almost made me believe it was truncated.
If I am right and the third leg down is to come, resistance moved to about 6300 CNY. I am expecting a small bounce into that resistance, and sideways for two days, then the third leg down.

Someone trading on OKCoin must have read my "resistance at 6300 CNY", because it stopped at 6299 CNY. This correction should bounce from support, and then retest support tomorrow morning.