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

[Torque]

Blasted through $3800.  

Blasted

Orly??

[TheRealProphet]

Have you guys sold all your BTC? I've warned you all at $4500 to leave the sinking ship. Guess who's "loser" now.

[El duderino_]

About a $7 million sell wall on finex.

But it's one of those fake walls trying to push the price down.

we will see you back @1000usd

[ParabellumLite]

Blasted through $3800. 

yep. There was a decent wall there too on stamp.
Someone draw a triangle or cup and handle or something which points arrows to the moon

Walls say nothing. If you want to deduce any information out of them, than go for the opposite they imply.
I've nearly always seen crashes versus much larger buying walls. If you want to sell a lot of Bitcoin at market, you will not put out a 10000 BTC+ bid, but instead slow sell them all in increments. Put up some fake buy walls on the other side (of course, by use of your trading bot) and the suckers will believe it again.

This pattern has been observed by me in the crypto market over and over again. Never trust whatever the orderbook says to deduce where the price is going.

[El duderino_]

Have you guys sold all your BTC? I've warned you all at $4500 to leave the sinking ship. Guess who's "loser" now.

i'm a loser sitting on still all my coins and going to buy few more ...... youre the king selling @4500 usd enjoy youre profit taking and see you .... enjoy some resto dinners, maybe a car and don't forget to visit my country in a couple of years my friend    

[luckygenough56]

i miss real corrections

now that was fun to trade

[jojo69]

So smug and so wrong. What a combo

Is THIS what you did with our pants?...you bastard!

[ft73]

i miss real corrections

now that was fun to trade

Yes, this is not even volatility.

[edmond_dantes]

i miss real corrections

now that was fun to trade

Yes, this is not even volatility.

It will be soon it's about to hit the fan any min now

[mastrox92]

Down and break 3800
for a stupid reason

[gembitz]

jp morgan still mad at tesla for inventing the bitcoin system ?

>.> shots fired!!            haaaa

[d_eddie]

So smug and so wrong. What a combo

Is THIS what you did with our pants?...you bastard!

I think he was just helping us not to shit them.
As if there was any need...
Maybe we should ask Jimbo what he thinks about this correction.

[lightfoot]

Chase Paymentech, or more formally JP Morgan Chase Paymentech has a vested interest in the status quo. You know, the easily hackable Equicracks status quo.

[gembitz]

Chase Paymentech, or more formally JP Morgan Chase Paymentech has a vested interest in the status quo. You know, the easily hackable Equicracks status quo.

^the evil reptilian bankers cartel are all haired BTCBTC is unstoppable !!!
===> naked shorting by the Wall Street elites? wuuuut?    #news@11

[vit05]

...I still am not going to give a whole hell-of-a lot of weight to how much emphasis you seem to be giving to lines on a chart.

Remember that "lines on a chart" are formed by traders, the most influential of which read charts. So it's a feedback loop which is why they have such an effect.

People who buy on fundamentals to long term invest are not usually daytrading so they only have a momentary effect on the market. Otherwise, the price is driven by the small amount of coin supply that sits on exchanges and gets traded (according to chart interpretations).

That's why they can be a mathematical "inevitability". If there's a significant crossover then traders sell - because they know that every other seasoned daytrader is reading that same signal and acting upon it. Doesn't matter about fundamentals because they get priced in long term.

I like the way you think, it's very rare for someone to talk like this here. Using logic in arguments.

[Denker]

Down and break 3800
for a stupid reason

We may go down to 3000 the next 2-3 weeks, who knows.
Looking at the weekly chart this would be the perfect bounce from the MA 20.
We've done so several times since the rise in late 2015.

[Lauda]

Isn't it *nice* having this much vocal influence? You just open short positions, and say some nonsense FUD about Bitcoin and enjoy the profits. Unfortunately, Bitcoin as an entity itself can't fight back about those defamatory statements.

[d_eddie]

Isn't it *nice* having this much vocal influence? You just open short positions, and say some nonsense FUD about Bitcoin and enjoy the profits. Unfortunately, Bitcoin as an entity itself can't fight back about those defamatory statements.

Just wait until the dreadful honey badger wakes up...

[CristiTCM]

SODL or HODL?

[Denker]

Isn't it *nice* having this much vocal influence? You just open short positions, and say some nonsense FUD about Bitcoin and enjoy the profits. Unfortunately, Bitcoin as an entity itself can't fight back about those defamatory statements.

I'm not short I can say. I just checked the weekly chart and tried to figure out what could happen in a "worst case". And imo that's again a test of the MA20 which would be around the 3000USD area. Better be prepared than looking this thing dropping and dropping and freaking out.
And when others are short this is their good right. In a bull run others are long with high leverage. That's how the markets work.
As holder and long term believer in Bitcoin I don't really care about those short term drops and dips. With some cash on the sideline I also try to pick up more corn in those situations.