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

[JayJuanGee]

Since neither one of us are whales, we don't really know from personal experience but only from logic, and what other people say and from watching ourselves.

In that regards, it seems that frequently there can be mini-dumps to test support and also to stifle the upwards momentum (even if temporarily).  Sometimes, those tests of support take place several times before it becomse apparent that others are willing to follow dumping or that support is not really there.

Probably, we only know in the longer term if the dumped coins were a waste of time and had NO effect... sure if we shoot up to $1070 or higher, then we might be reasonably able to conclude that a dump in the lower 1030s was not effective.. but before that we cannot really know whether those kinds of short term apparently ineffective dumps are actually accomplishing something for the bear whales or other shorters

Of course there can always be other explanations for seemingly illogical behavior.

I've sometimes wondered about large market dumps or buys just before midnight UTC. Is it someone who has a vested interest in the "closing" price for the calendar day, perhaps miners or their OTC customers whose contract stipulates a price based on a particular exchange at midnight? Lose a little on a few hundred coins to earn back a much larger amount on thousands of coins? Is there tit-for-tat involved when we see such dumps followed by similar large buys to immediately bring the price right back up? Are some huge temporary walls there for that purpose?

As you said, neither of us are whales, so we can only speculate.

What you are saying make sense to me, even if it might not be occurring exactly as you speculate.

I have speculated about the same point in the past regarding how coins can be dumped on exchanges and then bought off exchanges... so that the buying back does not trigger the price as directly as the selling (kind of a way to continue to keep price a bit artificially low - yet would not necessarily require that the overall situation be profitable, only that it was an ongoing attempt to push prices down).  

[dmwardjr]

Take your pick...  hehe    I'm leaning "Red"



Previous was 4h TF; This is a "Pulled Back View" of the Daily TF:

[jbreher]

Take your pick...  hehe    I'm leaning "Red"

https://www.tradingview.com/x/9tpfjmvt/

Why's that? Because it time travels at that big dip around the midpoint in time?

[Karartma1]

IMHO the real question after all the PBOC/China drama how many "real" coins are on those exchanges?
The timing can't be better:
1. First fake volumes (no idea how many coins they handled)
2. Fees got introduced (volume drop by 90%)
3. Withdrawal stops (sorry guys we have been faking our books but we can't fake the blockchain, we don't really have your coins)
4. Use your imagination

[600watt]

IMHO the real question after all the PBOC/China drama how many "real" coins are on those exchanges?
The timing can't be better:
1. First fake volumes (no idea how many coins they handled)
2. Fees got introduced (volume drop by 90%)
3. Withdrawal stops (sorry guys we have been faking our books but we can't fake the blockchain, we don't really have your coins)
4. Use your imagination

i get it know! PBoC wants the exchanges to pump the price! the exchanges went steaming ahead with no real bitcoins. PBoC caught them with their hands in the (empty) cookie jar. now they have 4 weeks time to actually GET THOSE coins, which means they need to buy them on exchanges. that is why we see the buying pressure all around the globe. on top of that they try to buy on their own exchanges, but of course they try to buy with a discount in their own shops...

moon ahead! /tinfoil hat off

[Genesis1337]

IMHO the real question after all the PBOC/China drama how many "real" coins are on those exchanges?
The timing can't be better:
1. First fake volumes (no idea how many coins they handled)
2. Fees got introduced (volume drop by 90%)
3. Withdrawal stops (sorry guys we have been faking our books but we can't fake the blockchain, we don't really have your coins)
4. Use your imagination

4. Bitcoin becomes world reserve currency 

[Ted E. Bare]

PoolMinor still waiting for $800...

Sooner than you think

Are we there yet??

[r0ach]

There is a LOT of buy support over the last few days, much higher than normal.  Instead of 5, 10, or 20 blocks of coins being purchased, there's a steady stream of larger whale buys of 100 coins at a time.  This indicates one of three things:

1)  Someone is front running a Bitcoin ETF approval w/ insider trading

2)  Someone has no idea if the ETF will be approved but is buying just in case

3)  There were some insolvent Chinese exchanges that are now having to purchase at top dollar

[rjclarke2000]

There is a LOT of buy support over the last few days, much higher than normal.  Instead of 5, 10, or 20 blocks of coins being purchased, there's a steady stream of larger whale buys of 100 coins at a time.  This indicates one of three things:

1)  Someone is front running a Bitcoin ETF approval w/ insider trading

2)  Someone has no idea if the ETF will be approved but is buying just in case

3)  There were some insolvent Chinese exchanges that are now having to purchase at top dollar

I'd say number 3 seems like the probable answer. What do you think?


Edit. It could be all of them! 3 of 3

[soullyG]

Slowly grinding upwards 

[bitcoinvest]

There is a LOT of buy support over the last few days, much higher than normal.  Instead of 5, 10, or 20 blocks of coins being purchased, there's a steady stream of larger whale buys of 100 coins at a time.  This indicates one of three things:

1)  Someone is front running a Bitcoin ETF approval w/ insider trading

2)  Someone has no idea if the ETF will be approved but is buying just in case

3)  There were some insolvent Chinese exchanges that are now having to purchase at top dollar

I'd say number 3 seems like the probable answer. What do you think?


Edit. It could be all of them! 3 of 3

+1.

It's the perfect timing to have all those 3 together happening, plus the idea

4. Bitcoin becomes world reserve currency 

HODL your Bitcoins if you are long term holders we have upwards trend that is good now

[r0ach]

"Science doesn't make it impossible to believe in God, it just makes it possible not to believe in God" - Steven Weinberg

Interesting quote from someone named "Weinberg" considering the first thing the Jews did after Moses left is build a statue out of gold and worship it as their god:

https://en.wikipedia.org/wiki/Golden_calf

[becoin]

There is a LOT of buy support over the last few days, much higher than normal.  Instead of 5, 10, or 20 blocks of coins being purchased, there's a steady stream of larger whale buys of 100 coins at a time.  This indicates one of three things:

1)  Someone is front running a Bitcoin ETF approval w/ insider trading

2)  Someone has no idea if the ETF will be approved but is buying just in case

3)  There were some insolvent Chinese exchanges that are now having to purchase at top dollar

I'd say number 3 seems like the probable answer. What do you think?


Edit. It could be all of them! 3 of 3

And 4)...
It could be neither of the 3 mentioned above. A lot of people just don't care about ETFs or Chinese exchanges. They want to have at least 1 full bitcoin.

[K~Ehleyr]

Something big is about to happen... I can tell because Kraken keeps timing out 

[HI-TEC99]

There is a LOT of buy support over the last few days, much higher than normal.  Instead of 5, 10, or 20 blocks of coins being purchased, there's a steady stream of larger whale buys of 100 coins at a time.  This indicates one of three things:

1)  Someone is front running a Bitcoin ETF approval w/ insider trading

2)  Someone has no idea if the ETF will be approved but is buying just in case

3)  There were some insolvent Chinese exchanges that are now having to purchase at top dollar

I'd say number 3 seems like the probable answer. What do you think?


Edit. It could be all of them! 3 of 3

And 4)...
It could be neither of the 3 mentioned above. People just don't care about ETFs or Chinese exchanges. They want to have at least 1 full bitcoin.

Maybe, but sometimes after a big exchange gets hacked it keeps it quiet and tries to make the lost coins back through the trading fee revenue. If the PBOC is auditing such an exchange it has to buy the lost coins back fast or get caught out. Options three plus people who want to have at least 1 full bitcoin could be jointly responsible for the latest step up to £1050.

[Ted E. Bare]

Buy every bitcoin?

[marcus_of_augustus]

Feels kind of poppy ... weird since we already banked a solid 50 buck run.

[bitcoinvest]

Something big is about to happen... I can tell because Kraken keeps timing out 

i can't see any timing out or anything not normal in my 2 computers.
Also here : https://status.kraken.io/  everything looks: Operational

The only thing i saw in Kraken was about 200 BTC for sale at 990€ that now are ~150... already 50 bought and look like will all be bought

If something big is about to happen maybe is that we will brake the 1.000€ ?

[marcus_of_augustus]

There are extremely few assets that are this uncorrelated with other assets and that makes bitcoin extremely desirable from a portfolio construction perspective.
...  it’s surprising that bitcoin’s correlation is this low, even among other store of value assets.

https://medium.com/@SignalPlot/what-is-bitcoins-correlation-with-other-financial-assets-ea169c2184f#.bq99cn8w8

[molecular]

Buy every bitcoin?

you're doing it wrong...