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

[explorer]

   

   ALLRIGHT, who broke it?

[JayJuanGee]

I guess we were overdue to shake out the weak hands.

You can say that again.

It's been a while since we had any kind of quasi-meaningful correction whether we are referring to the quantity of the correction or how long it might last.

So far it has been pretty quick, since our high of $64,895 was on the 14th, and the amount of the correction so far is "only" about 20% to our current low of $51,541.  

I am not cheering for more correction, because frequently when there is so much volume in such a short period of time (that last leg from $58,600-ish to the $51,541 current bottom happened over about 25 minutes.  So sure there could be more, even if the bounce back (to reach about $56k within the past 5 minutes, as I type) is currently seeming decent.  We will see if the bounce back or an ongoing correction is in our near-term future?  We will see?   The next 36 hours are absolutely and undeniably critical.^tm  

[OgNasty]

$11K drop in a day. Not used to seeing such big moves going that direction. Good news for the market though. I look forward to reading the data about all the liquidated leveraged longs tomorrow. Now that the leverage has been freshly wiped, we should be good to make a move above $65K now.

[JayJuanGee]

$11K drop in a day. Not used to seeing such big moves going that direction. Good news for the market though. I look forward to reading the data about all the liquidated leveraged longs tomorrow. Now that the leverage has been freshly wiped, we should be good to make a move above $65K now.

Actually, that is true.. there should be a quite a few wiping of the leveraged longs from such an extreme and quick price move.. .. and of course, such wiping of longs does not guarantee that we are going to resume UPpity, but surely I had recalled seeing quite a bit of stacking of leveraged longs, which at some point becomes way too much of a honey pot for any deep pocket(s) to resist.

[Hueristic]

OK who was it that forgot about about slippage?

Fess up!

[janggernaut]

The reason of the dip https://www.theblockcrypto.com/linked/102007/bitcoin-plunge-7-billion-liquidation?utm_source=cryptopanic&utm_medium=rss

Did anyone bought the dip?

[shahzadafzal]

$54k awesome!

Finally bought back the one I sold at $58k.

Edit: I was sleeping so missed $52k-$53k window

[mrjoy15]

$54k awesome!

Finally bought back the one I sold at $58k.

Edit: I was sleeping so missed $52k-$53k window

I just woke up this morning, and realized that the hell I just missed out! 

BTW! Anyone know what's thing driving BTC massively down right now? or just a simple correction?

[shahzadafzal]

later sold "some" at $54k and $53k... just to buy back later.. i never cashed it out... but now I have been waiting since then to buy it back

Finally my wait is over!!!

[somac.]

Yeah wow, what a dip. I've missed a lot of it I see.

Quick! Quick! sell BTC and buy fiat, fiat with about 20% a year inflation is the receipe for success.

[shahzadafzal]

I was starting to consider that bitcoin (aka lil fiend, aka used to be buddy) might be ded.  

Supra $1trillion was nice while it lasted.

 

Never thought anyone but you giving up that easily!!!

[Hueristic]

So many explosions my sound card is stuttering!
thats never happened before.

http://dave.freeinforadar.ch/btcwars/

[philipma1957]

The reason of the dip https://www.theblockcrypto.com/linked/102007/bitcoin-plunge-7-billion-liquidation?utm_source=cryptopanic&utm_medium=rss

Did anyone bought the dip?

I got two small pieces
 200usd worth at 51.7k
200usd worth at 52.0k

[strawbs]

What was that, a dump for ants?

[somac.]

Weekend shenanigan. It's the only time they can do it. Everyone buying on Monday will love them.

[eddie13]

Got some dip but only at 54,300
Gf got some at 53 something

[virasog]

[White sugar]

$54k awesome!

Finally bought back the one I sold at $58k.

Edit: I was sleeping so missed $52k-$53k window

I just woke up this morning, and realized that the hell I just missed out! 

BTW! Anyone know what's thing driving BTC massively down right now? or just a simple correction?

https://bitcointalk.org/index.php?topic=5330967.0

stuff in China blowing up maybe?

[Krubster]

Found this, dunno if there's anything to it

https://twitter.com/Fxhedgers/status/1383611847144730626

@Fxhedgers
U.S. TREASURY TO CHARGE SEVERAL FINANCIAL INSTITUTIONS FOR MONEY LAUNDERING USING CRYPTOCURRENCIES  -SOURCES

This smells awfully lot like FUD. Are there any reliable sources to this? Saturday night seems like an odd time to release news like this.

[Lambie Slayer]

LOL to the unfortunate souls who just sold their coins to the Bargain Boyz.

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https://www.youtube.com/watch?v=F7xGbEGdOfw