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

[Okurkabinladin]

Calling the bottom. Wasn't the margin trading expended in China? Then they can only sell once.

For every seller there is a new buyer, you know? And nothing will hold new owners to keep holding their coins, if they dont see swift price recovery in the following couple of days.

Just letting it out there. Its not like this threads "to the moon" pictures have the power to change trends in price movement.

[1714954931]

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[1714954931]

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[Killerpotleaf]

Calling the bottom. Wasn't the margin trading expended in China? Then they can only sell once.

And what exactly might that be? $945 - $899 -$700 ?
People would like to know...
I want to know.
The rollercoaster ride isn't over yet now.

this is bottom.
anything <1000 is cheap.
bear trap will now close.

I realize this is your thread, but I believe you are jumping the gun here.

looking at bitfinex margin data
market was top heavy last night.
the FUD this morning was pretty good.
price suffered.
thats all.

now we are all going to panic sell because china _____?
naaa this is as good as it gets,
welcome to the bottom.

[rjclarke2000]

Ok ok, SOMEONE posted on here the other day saying CHINA you have NO power anymore. Your dumps are NOT very effective and it recovers as fast as it drops.

Who was that? They bloody lied to me.

[Killerpotleaf]

>980 in <30mins
~6hours away from >1000
~24hours away from 1050
~72hours away from ATH.


that right people.

THE PRICE IS WRONG!

[rjclarke2000]

>980 in <30mins
~6hours away from >1000
~24hours away from 1050
~72hours away from ATH.


that right people.

THE PRICE IS WRONG!

I wish I was half the Bull that you are!! Always super optimistic. Love it

[Ted E. Bare]

~1 week away from PoolMinor panic buying.

[bitcoinvest]

it's the best you can do to be optimistic.

the next reality will come in some hours ....

Current local time in China here https://www.timeanddate.com/worldclock/china/beijing

Let's see how they going to read the news and what their actions on the block of their withdrawals....

[swogerino]

Give it a couple days to a week and this will all be just a bump in the road.

I'm sure.

I love this thread. Rule of thumb. When the consensus is yelling "hodl", sell. When they yell "sell", hodl.

While everyone was yelling hodl yesterday I thought julian071 had made a mistake selling 40% of his stash to pay for a new bike. Now everyone's yelling sell I changed my mind and think he might have picked a good time to sell, and now's a good time to buy back.

>_>
Edit: sold 40% of my stash today.

^ouch    no you didn't!!

Yes I dit! Not only have I paid off the loans I made for my initial investements, I have also paid off the loan I had for my favorite mode of transportation.Not exactly a boat, but it puts a smile on my face every time I ride it.

What the?!
He got a bike from selling his stash?! How much of a stash was that?

I wish I had thought of that to get a crotch rocket for myself!

[600watt]

Yeah, this thread is for suckers. Not sure why I bothered to try and enlighten anyone here.

that´s what i call modesty. keep up the good work.

[TeeBone]

I see this as a large bounce off the 750 low, we should hit the 78% retracement at 1055. But, to zoom through the ATH from here, doesnt look proportional...it's happening too quick. If this is indeed the 'handle' part of the huge cup and handle from 2013-now, then another drop is likely.

i missed it by 20 bucks  , but glad i dipped into cold storage to sell at 1050.

Re-loading in the 675-750 zone.

[rokkyroad]

That's a very nice ride! Buy bitcoins folks. You can be the next Ducati owner soon.

[Meuh6879]

No problem here, only the sky ...

[JimboToronto]

Next step would obv be to close a small exchange. Then, after several smaller ones, proceed with the bigger ones.

Then go after the miners. Then go after every retailer that accepts BTC.

It seems to me that the PBOC isn't going after Bitcoin. They're simply trying to prevent the outflow of capital from their country.

Yuan can be controlled. As long as the private keys are in China (such as in Chinese exchanges) they can control some bitcoins.

Once the coins are withdrawn to addresses whose private keys are elsewhere, they have no control whatsoever, hence the withdrawal suspension.

If this continues for more than the announced month, it could be extremely bullish. If all those coins are trapped in China, the supply to the rest of the world will be restricted.
____

Glad I bought today, even if I had to try 5 ATMs to do so.

The 2 cheapest ones I use the most were both temporarily sold out, the 3rd one I tried was ridicujlously overpriced, the 4th only had a fraction of a coin and was overpriced.

Finally I found a machine in a waffle shop which was well-stocked, reasonably priced, and doing booming business. It was busy when I arrived and by the time I was done, there were already 2 more people waiting in line.

Where I live, at these prices, demand exceeds supply.

[marcus_of_augustus]

Someone's short a lot of bitcoins in china methinks ... I see dead exchanges time again.

.... aaaaaaand they're gone, they're gone.

[JimboToronto]

That's a very nice ride! Buy bitcoins folks. You can be the next Ducati owner soon.

How times have changed. Goat used to show off the Lamborghini sports car he bought with profit bitcoins. Now it's a Ducati motorcycle.

At least they're both high-end machines. Bitcoiners have taste, class, and perhaps an adventuresome spirit. They also like things to be fast-moving.

 

[JayJuanGee]

Yeah, blame it on a news story that is not on the PBOC's website. Instead of the TA that has been placed before you repeatedly.

It's not over yet..



and I told you so.

I knew you would claim false credit.

The reality of the matter is that the price of the collapse did not go down any lower than when you started calling for the collapse.. (at least so far), so it is too early for you to claim credit because it has not gone below the amount when you started to call for the collapse.

How ridiculous that you are trying to claim credit... or that you feel a need to claim credit.

I think he did though, take for example the post from February the 3th, and the price at that time... todays low at stamp is around 913, which is definitely lower than that time. I might be wrong on this, but I think it is kind of a good call. Moreover it could be we aint seen the end of this downmove yet.

Yes, you are as ridiculous as him, if you are trying to suggest that he called a downfall, when we know that corrections can happen at any time.

In the past week, we had a gain in BTC price of about 17% (from $920 to $1,075), and then in the past several hours, we had a correction that pretty much spiked so low to take away the whole gain but bounced back that more or less put prices into about the 10% correction territory (from the top point and currently floating in about the $970s as I type).

Sure, the situation is not over yet because there were about 13k BTC dumped on Stamp in about two hours (which a fucking lot of coins to dump), so we don't know for sure which way the price is going to go and whether the lower prices can be sustained or even continued to be pushed back down.

And in the end, so fucking what.. it is all part of market movements that can be anticipated to happen.. He called it about 5% lower than it actually happened, and then tries to claim credit.. .again.. so fucking what.. ?

[JayJuanGee]

And what are the expectations? should we sell? Or maybe this sensationalist news are used just for making panic as always? I believe BTC will stay in range 900 to 1000$. I think trend is broken.

i believe should sell and buy back about $50 lower or maybe more....

by the way Error 502 on Kraken .... there is nothing more annoying when the party is on the move to be outside of the exchange.....

 

Good luck with that strategy.

It is usually a safer strategy to buy after a dip rather than to sell during the dip that may or may not continue.... otherwise if you are in doubt, holding is also usually better than selling after there has already been nearly a 10% dip.  You may be correct, but the odds seem a bit against such a strategy

it's not a strategy. it was reaction to what happened. i agree with you that it's not safe.
sometimes in life it's good that we do things that we not think too much. we just do it.
that was the same here and the timing was good in my case.
But yes in general i agree with you as i said and hope more people have this strategy for their own safety

What you are doing is called gambling, and yes, sometimes I gamble with 1% or 2% of my holdings, and the remainder I engage in safer strategies.  You can also have a different tolerance for your gambling threshold, maybe even 10% or 20% of your holdings could be reasonable for some people.... I personally don't gamble with that much of my holdings... but that is just me.

What i did you can call it what name you like. and i never "play" around with something more than i can afford to loose....
i believe everyone of the early adopters know that already..

More or less we seem to agree, and sure people are going to draw their lines differently in terms of how much they are gambling or engaging in safety. 

I doubt that we are talking about different things, but we are drawing our lines at differing points regarding how much of our BTC holdings we may be willing to bet in either direction and whether we consider those bets to be safe or risky and how much we are willing to risk, even within our own perceptions of the probabilities of the situation.

I told you my thinking on the situation and how much I am willing to bet or to play with.  i also said how much I can perceive as reasonable (even within my framework).  I accept that sometimes folks will go outside of what I consider reasonable, and surely they have every right to do that and to come to those kinds of conclusions for themselves (even though would describe those kinds of behaviors as "overly risky" or "gambling too much.")

[rokkyroad]

That's a very nice ride! Buy bitcoins folks. You can be the next Ducati owner soon.

How times have changed. Goat used to show off the Lamborghini sports car he bought with profit bitcoins. Now it's a Ducati motorcycle.

At least they're both high-end machines. Bitcoiners have taste, class, and perhaps an adventuresome spirit. They also like things to be fast-moving.

 

Right on Jimbo! I like your style. Personally ... I like fast women ... but alas ... they don't like me.  

[JayJuanGee]

Ohhh boo hooo, someone stated weeks ago before the price was up to ~$1050 that it would not go above the January price, and because it was $910 at the time "we" didn't believe that they would know this information without having some sort of PERCENTAGES of probability. And now because it went to $1078 this person was completely wrong because they said ~$1050 and clearly $1078 is NOT ~$1050. And it hasn't dropped by the 25% YET, so they are clearly still wrong!!!

You come off as if you are engaging in a strawman argument.  That is you create the argument of your opponent in terms that are easy to strike down, and then you assert:  "I win"...  

You really come off as a bit of an insecure goofball that you feel like you need to be right instead of just sharing information with folks in this thread and agreeing to have differing opinions.  

i saw this coming miles away, problem is i positioned myself accordingly ~3weeks ago 

Exactly Adam.. I am glad that you can admit it.  We cannot time the situation exactly, so we gotta hedge a little bit about the timing and not bet too much - even if we have a pretty good idea that the explosion in one direction or another is coming.

[600watt]

If all those coins are trapped in China, the supply to the rest of the world will be restricted.

i doubt it that PBOC tries to stop capital outflow by means of restricting the movement of coins. i think they are after money laundering.

unfortunately the coins aren´t really trapped. the owners can still sell them and cash out. that is the problem here: it creates selling pressure. imagine you would have coins there and PBOC starts to intervene all the time. what would you do when they do not allow you to move your coins?

a) sit it out and wait and pray that exchange does not get shut down by PBOC
b) sit it out and wait and pray that exchange does not go bankrupt
c) don´t just wait, cash out and play safe.

that is what some (most?) people that have coins there will do.

and on top of this: imagine you have cash sitting on the exchange. would you want to buy coins that you are not allowed to move?

it is not only creating selling pressure, it is also inhibiting buying.


we can at least be thankful that the PBOC was nice enough to implode the mega-exaggerated volume FIRST (january 5th dump) and THEN stopped bitcoin withdrawals. imagine the blood bath if they would have done todays move while volume was mega exaggerated.