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

[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.

[becoin]

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.

Sometimes, if it looks too bearish, it's actually bullish.

[savetherainforest]

 

woof!

Dogs can't eat chocolate ...  or... is he feeling suicidal??

[gembitz]

Dogs can't eat chocolate ...  or... is he feeling suicidal??

$600 rock solid support!!!    ~jmwag

[Paashaas]

This is a good time to buy now.

[kurious]

This is a good time to buy now.

I hope you know something I don't...

I am keeping fiat waiting, but I don't think we are in a solid up just yet.

[becoin]

This is a good time to buy now.

There is no bad time to buy bitcoin. Time is always good.

Just don't use margin trading. Buy small amounts. Buy regularly. And let the whales eat their own vomit.

[Ted E. Bare]

Always buy during maximum panic. Now for over a year the dumps have only lasted a couple of days max. It's not too hard to get a nice entry.

[Tzupy]

Hmm, this is looking kind of bullish, so I may buy the next local bottom.

[deka_ger]

Hey guys,

I just registred right now, before i was some kind of observer of the observer thread 
After the actual crash i tried to keep cool. I'm not some kind of big investor. I "only" hold a few k in BTC actually.

Anyway, after the coaster ride between 920 and 970 I thought it will go straight up soon. But we dropped under 900.
Because I was wrong and never expected the under 900 drop I have had no fiat ready to buy some coins.

I really regret not having fiat ready to buy some more coins at this time. In my opinion we will be on our steep rising again in only a few days. The green candles are becoming more and more. Meanwhile I keep hodl my coins.

From my view a lot of people are to emotionally, I mean you may have "earned" 10k in BTC in the last weeks. And what is the situation now? You will still have a profit of about 5k. So keep being rational. 

[savetherainforest]

Hey guys,

I just registred right now, before i was some kind of observer of the observer thread  
After the actual crash i tried to keep cool. I'm not some kind of big investor. I "only" hold a few k in BTC actually.

Anyway, after the coaster ride between 920 and 970 I thought it will go straight up soon. But we dropped under 900.
Because I was wrong and never expected the under 900 drop I have had no fiat ready to buy some coins.

I really regret not having fiat ready to buy some more coins at this time. In my opinion we will be on our steep rising again in only a few days. The green candles are becoming more and more. Meanwhile I keep hodl my coins.

From my view a lot of people are to emotionally, I mean you may have "earned" 10k in BTC in the last weeks. And what is the situation now? You will still have a profit of about 5k. So keep being rational.  

Sure... why not?... Welcome to the propaganda channel!!!

[eddie13]

BTC tx was fast that time..

Margin bought 5750 and I'll let it liquidate if it so decides..

If I'm wrong I guess I didn't lose that much since it's dead.. If I'm right, who knows..

first dump knocked of 2888 cny per

2nd dump only another 300 cny

3rd dump only 100 cny


You guys are either fudding to try to buy lower.. Or are wayyy too emotional..

Or I'm crazy..

YOU ARE crazy...      

Crazy like a FOX!!

Just closed that baby at 6300 6290..