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

[Chainsaw]

(updated chart below)

Nearing the top of the descending wedge.
I'm expecting more down. If wrong, I'd expect a breakout of the trendline to be both violent and large.

huobi @5700. broke the wedge. let´s hope for good. still too tiny.

edit: not broken on finex. not on stamp. we need $850+ for that.

Within this descending wedge, we've taken one run at resistance, and are about to take a second.
The first time, we hit it with a symmetric triangle (Continuation pattern) from the $816 low to the resistance line. When we hit it, we dropped.
This time, we are coming at it with a symmetric triangle from the $735.25 low to the resistance line.
Those two converge around 4am CST at $816...so I'm guessing sideways/slight drift down for the next 12 hours, then down hard.

[Killerpotleaf]

this is exciting!
support looks strong.
though little battle

[yonton]

Is that called the X's and O's chart?

[Killerpotleaf]

Sell it all man

I've fucking had it.

[yonton]

Comon lil candle green candle you can do it!

[Meuh6879]

[rjclarke2000]

That actually looks pretty sexy.


Edit. NOT the agent Smiths

[Killerpotleaf]

Knock Knock

[K~Ehleyr]

Knock Knock

Who's there? 

[Killerpotleaf]

Knock Knock

Who's there? 

eight

[abstract1]

So is Chinapocalypse 2.0 (or is it 3.0?) finally over now? Is the bull prepped?

Unfortunately I had to sell 1 bitcoin near the bottom of that dip for time sensitive reasons. RIP my little bitcoin, sorry we had to part ways so soon and you could not achieve greater glory by my side. Yes I talk to my bitcoins.

[European Central Bank]

maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

[Killerpotleaf]

not much fallow thru there...

meh no worries the grind will loss resistance and gain support.

[Killerpotleaf]

maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

isn't that legal tho?

i mean its an accepted practice on other markets.

[the artful bodger]

maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

isn't that legal tho?

i mean its an accepted practice on other markets.

I remember the US briefly banned shorting during a fiat/stocks crash years ago. It was legal until they decided to briefly ban it, then they unbanned it again and it went back to legal. China's the same, it's legal until they say it's not, then back to legal when they say it is.

[Killerpotleaf]

maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

isn't that legal tho?

i mean its an accepted practice on other markets.

I remember the US briefly banned shorting during a crash years ago. It was legal until they decided to briefly ban it, then they unbanned it again and it went back to legal. China's the same, it's legal until they say it's not, then back to legal when they say it is.

naked shorts are really just a risk to the exchange itself.
there the ones leading out coins they dont have.
the exchanges probably hedge when / if they do this, they'll lead you 500BTC they dont have, and buy some "puts" or somthing.
really there just betting they'll make money because some will get liquidated... and that will cover their hedging costs and then some.
they lead you 500BTC, buy a put, price moves higher up, they use there put you get liquidated, and they profit big time.
Lol wouldnt suprize me at all this kinda shits happening...
 
unclear if PROC will put a stop to this, they play the same games...

[Chevas Regal]

Just a Week ago i was active here and encountered that the btc was at 1065$ , and today i see tat it is again floating at 800$, Interesting.

[sirazimuth]

wait till it shoots over $1000 again and watch all the coulda woulda shoulda
hodelers sell their stash like theres no tomorrow

[Searing]

wait till it shoots over $1000 again and watch all the coulda woulda shoulda
hodelers sell their stash like theres no tomorrow

Then new FUD will emerge and 800 btc again. (I see an ugly trend here....back/forth up/down......they hate our btc flawless elegance and beauty)

[savetherainforest]

Damn.. that's good.


But I guess its pretty much sideways(10-15$/day) for the next few days at least... I just see a ping-pong of 100-200CNY each day in their exchange with revised policies. But nothing too sharp and drastic.