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

[Frozenlock]

I've yet to see an exodus. I've seen plenty of speculators however. 

[dexX7]

LOL!!!

Long squeeze! 

https://www.bitfinex.com/pages/public_log

FORCED EXECUTED @ 103.1(-2.42)

The forced part in combination with falling prices made very clear, that it was now dead long position.

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading. 

But could you please explain, how you know, people go long/short and how many open positions there are?

[Frozenlock]

Sure.
Go into the margin section.
There you can see the remaining available long/short position.

Compare it to what it was 1-2 days ago and you can have a pretty good idea of the positions taken.

Of course there's always the possibility of people just leaving the exchange.

[Chainsaw]

Does what your getting at rhyme with Brash but sort of have the opposite outcome?  

My guess is everyone bought thinking the price would go up
and now they are all looking at each other thinking "Oh... It didn't happen... Uh oh..."

Looks like things just turned. I say 4 days of red candles ahead.

This theory would fit the volume and price movement.
It would also accurately reflect my mentality, when I intentionally throw logic out the window and try to observe what I feel/think as a purely emotion-driven investor.

Full disclosure, I've been positioned for downturn for over a week. But today's actions are causing me to move my rebuy targets lower.

[Ultraviolet]

I still think it gets whaled up to like 118-119 tomorrow, stabilizes around 115-116 for a few days and then whaled into 130 and maybe 140 before dumped for the beginning of the month.

[Its About Sharing]

Does what your getting at rhyme with Brash but sort of have the opposite outcome?  

My guess is everyone bought thinking the price would go up
and now they are all looking at each other thinking "Oh... It didn't happen... Uh oh..."

Looks like things just turned. I say 4 days of red candles ahead.

This theory would fit the volume and price movement.
It would also accurately reflect my mentality, when I intentionally throw logic out the window and try to observe what I feel/think as a purely emotion-driven investor.

Full disclosure, I've been positioned for downturn for over a week. But today's actions are causing me to move my rebuy targets lower.

Look at my post above. I am talking about todays candle formation. If we close at around 110 or below, we have a shooting star candle (reversal pattern). We have nice volume and it is right below support/resistance as well. There is emotion there as well though.  

[Miz4r]

Looks like things just turned. I say 4 days of red candles ahead.

price drops a few $, prophets immediately predict long term drops
price rises a few $, prophets immediately predict long term raises

bitcoin never changes

No, not exactly. We had what looked like a shooting star candle (upside down hammer basically) 2 days ago but it didn't form. Then yesterday it was just long wicked one with a decent body. Today is a bit key due to the resistance area(s). Now we are forming that shooting star with good volume (52k), just below resistance.

You just keep trying with your shooting stars won't you? This one won't form either, I can asure you. Just panic buy already, you're not getting your crash.

[samson]

Bitfinex (Bitstamp) now @ $103.50 and people are still leveraged long up to their ears.

Good luck unloading.  

Does what your getting at rhyme with Brash but sort of have the opposite outcome?  

Me? NooOOOOOooo, I would never...  

I've been asking all day to see who's leaving MtGox, as many people are saying is happening...
I've got a single answer (with limited BTCs).

My guess is everyone bought thinking the price would go up
and now they are all looking at each other thinking "Oh... It didn't happen... Uh oh..."


Also, Bitifinex isn't very liquid. With more than 2k BTC leveraged long, that could take a long time to sell.

I didn't buy today to leave Gox but I did 2 days ago. I bought and moved 550 Bitcoin elsewhere then sold them.

One of my wires went missing the day this issue started so I saw something was wrong and I acted on it straight away. I had $60k on Gox at the time which I reduced to zero.

The only reason the price went up 2-3 days ago was people buying to leave in anticipation of there being a problem based on increasing reports of missing wires.

What you're seeing today is the late comers who are reacting to the official announcement.

The only reason I noticed this is I did another wire one day before this and it was processed immediately and credited to my bank account 24 hours later.

It is happening but it just started a few days before the official announcement based on the rumours.

[dexX7]

Sure.
Go into the margin section.
There you can see the remaining available long/short position.

Compare it to what it was 1-2 days ago and you can have a pretty good idea of the positions taken.

Of course there's always the possibility of people just leaving the exchange.

Very interesting, thanks. Is the available amount directly linked to available lendings or are those things seperated? Or: does the number change, if someone decides to stop lending his coins or fiat?

[Its About Sharing]

You just keep trying with your shooting stars won't you? This one won't form either, I can asure you. Just panic buy already, you're not getting your crash.

[Frozenlock]

What you're seeing today is the late comers who are reacting to the official announcement.

And I'm trying to see if they are reacting like this:
"OMG, get my funds out of MtGox ASAP!!!"

Or rather:
"Price is going to go up.. buy buy buy!"

[Miz4r]

To join in on the armchair TA in here: Are we seeing another cup and handle forming? Just need to form a nice handle before we have lift off. *makes a wish while looking at IAS's fading shooting star*

[ChartBuddy]

[fr33d0miz3r]

Just a some picture about recent dump

[Jozzaboy]

That dump recovered valiantly. I am very confident in 120 in <48 hours.

[CoinEntropy]

That dump recovered valiantly. I am very confident in 120 in <48 hours.

I think the price increase is correlated to the prevention of USD withdrawals on Gox, which drives up price from US deposits and buys only.

[hlynur]

complete TA-newbie here...just one question:

can somebody define how deep/long that handle should/can grow (in case one can call that a cup there ) ?
until we go upupup of course

[wolongong]

complete TA-newbie here...just one question:

can somebody define how deep/long that handle should/can grow (in case one can call that a cup there ) ?
until we go upupup of course

...and in addition to above question show me where in time there ever was a typical cup and handle pattern in the bitcoin market.

[hlynur]

complete TA-newbie here...just one question:

can somebody define how deep/long that handle should/can grow (in case one can call that a cup there ) ?
until we go upupup of course

...and in addition to above question show me where in time there ever was a typical cup and handle pattern in the bitcoin market.

well....never...depends on how you set the factor of time

To join in on the armchair TA in here: Are we seeing another cup and handle forming? Just need to form a nice handle before we have lift off. *makes a wish while looking at IAS's fading shooting star*

i related to that one and just wanted to hear some more armchair TA

[ChartBuddy]