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

[mmitech]

any reason why ltc responded to the opening on huobi by tanking? now i wonder what an opening on gox would've been like - worse?

wasn't this expected ?  this is only the short term reaction, lets see what will happen the next couple of months I didn't sell a single LTC, I saw this coming but I am playing the longer term

If you expected a pump and dump, then why didn't you sell near the top and re-buy to increase your holdings?

I did answer this question, I am not taking short term profits on this, I am playing the mid-term, in other words see what will happen after a couple of months.

I would say it is a buy signal for the next fewcouple of days, pigs will always lose, they are the one panicking now

[TERA]

i have a macd/ema strategy with ltc daytrading where i buy on a certain ema on downspikes which should be safe as a support until the corresponding macd goes down. once that macd goes down then the support is no longer valid and i move to the next longer chart to use its ema as support. this works most of the time. however today it just kept going down, and down, and down, without the corresponding macds going down first.

[RicePicker]

i have a macd/ema strategy with ltc daytrading where i buy on a certain ema on downspikes which should be safe as a support until the corresponding macd goes down. once that macd goes down then the support is no longer valid and i move to the next longer chart to use its ema as support. this works most of the time. however today it just kept going down, and down, and down, without the corresponding macds going down first.

That probably would work on a rational market, but when buying and selling is occurring irrational because of much BS you will lose trying to use technicals.   

[mmitech]

i have a macd/ema strategy with ltc daytrading where i buy on a certain ema on downspikes which should be safe as a support until the corresponding macd goes down. once that macd goes down then the support is no longer valid and i move to the next longer chart to use its ema as support. this works most of the time. however today it just kept going down, and down, and down, without the corresponding macds going down first.

well if you missed selling, look at the 3d,1d MACD and you will feel better, many other chances are coming, and don't worry so much about pigs dumping because this wont last forever (they bought because of huobi event anyways) add the fact of mining cost, it is going crazy, this is good for both LTC and BTC, this will slow down miners who convert LTC to BTC and dumps BTC on other exchange for USD. this also means that the ratio LTC/BTC will go up.


there is other few reasons for LTC to go up but I will not share them to not ruin my trading position  

[chessnut]

huobi is heating up - leading the assault down which I am betting on =D

[solex]

Was the retest of <$600 a turning point?
Buyers keep the price ticking back up and the BTC markets all look like they want to break the 2014 downtrend soon.

[ChartBuddy]

Explanation

[chessnut]

Was the retest of <$600 a turning point?
Buyers keep the price ticking back up and the BTC markets all look like they want to break the 2014 downtrend soon.

it looked like a turning point yesterday, but it has stalled and lost meaning. now what? it's a down trend, Im betting on down like I was yesterday.

[TakeTheSkyRoad]

I did answer this question, I am not taking short term profits on this, I am playing the mid-term, in other words see what will happen after a couple of months.

I would say it is a buy signal for the next fewcouple of days, pigs will always lose, they are the one panicking now

Well personally I missed out on the $21 peak while I slept and I'm torn between kicking myself for not placing a speculative sell and thinking the same regarding the longer term view.  Yes I think the possibility of a higher price is there but selling & re-buying to make some extra LTC in the mean time would have been nice.

That said I probably would have placed a sell to BTC at about 0.03411 and the peak was 0.03375 and I think I would have been even more pissed to have missed out by that close a margin !

[mladen00]

I hope BRICS ( Brasil, Russia, India, China and South Africa) countries will say bye bye to USD as second fiat and take BTC

[ChartBuddy]

Explanation

[TERA]

I saw a 986 sell order on btcwisdom and thought I was still looking at ltc, but actually it's bitstamp.

[chessnut]

I saw a 986 sell order on btcwisdom and thought I was still looking at ltc, but actually it's bitstamp.

yep it's still there on stamp..... there is bugger all liquidity tonight, its spooky. a big order like that could push us into the 500s if the bidding gets hot.

[barbs]

I saw a 986 sell order on btcwisdom and thought I was still looking at ltc, but actually it's bitstamp.

yep it's still there on stamp..... there is bugger all liquidity tonight, its spooky. a big order like that could push us into the 500s if the bidding gets hot.

the very definition of talking your book all on one page!!!

No one knows whats going to happen, all we know is that huge amounts of coins are in the hands of few as usual, on bitstamp, and people are getting impatient.

[pheL]

I saw a 986 sell order on btcwisdom and thought I was still looking at ltc, but actually it's bitstamp.

yep it's still there on stamp..... there is bugger all liquidity tonight, its spooky. a big order like that could push us into the 500s if the bidding gets hot.

He's probably not willing to sell it though.. Bored whale trying to manipulate. Won't take us more than ~610 at the most, I think.

[TERA]

I saw a 986 sell order on btcwisdom and thought I was still looking at ltc, but actually it's bitstamp.

yep it's still there on stamp..... there is bugger all liquidity tonight, its spooky. a big order like that could push us into the 500s if the bidding gets hot.

He's probably not willing to sell it though.. Bored whale trying to manipulate. Won't take us more than ~610 at the most, I think.

1000btc actually isn't very many coins. It's 0.008% of the coins. There used to be dozens of these in play at a time on mtgox. It's not enough to theorize about someone trying to manipulate.

[barbs]

1000btc actually isn't very many coins. It's 0.008% of the coins. There used to be dozens of these in play at a time on mtgox.

OR.....

Where there actually 1000 btc??

??

[chessnut]

they are still there.... look.

1000 coins is quite a lot when the liquidity is next to nothing. there will be somebody waiting at 600 maybe, or late 500s who can help him out.

[chessnut]

I finally moved out of btc-e after taking ltc/btc profit last night. I've been nervous about them for some time and it just keeps getting worse as time goes on.

Sure is a relief having everything in cold storage. I'll still use a few coins to buy alts, though, trying to increase my btc holdings before the next big ramp.

Right now hodling is the way to go, imo. Too easy to lose coins if you sell them for fiat. Best to just be patient, jump on any alts that are rallying and take profit in btc. Btc/usd could go down, but it probably won't go down much further. And the potential upside is, well...   

...or it could all tank and I'll be left with a measly few K in my checking account but that's just part of the fun isn't it? 

I just moved to Bitfinex for the margin. It means I can keep more coins in cold storage yet trade the same amount. and in complete financial crisis....I only lose 1/4 of what I might have.

[JorgeStolfi]

I hope BRICS ( Brasil, Russia, India, China and South Africa) countries will say bye bye to USD as second fiat and take BTC

What you mean by "second fiat"?

In countries with very high inflation (and I mean VERY high - much more than 10%/year) the USD may be commonly used in commerce instead of the national currency.  I gather that such is the case of Venezuela now, maybe of Argentina at times.

Brazil had very high inflation in the 1980s but even then the USD was not commonly used. Since the early 1990s the currency is fairly stable, and people do not use USD, or think prices in USD, except when importing items.

Russia and China, and perhaps also India, have banned crypto-currencies from commerce. I do not see them reversing their position anytime soon.