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

[cAPSLOCK]

HOLLAR OUT TO ELLIOT WAVE ANALYSTS

y'all see a five wave decline terminated and a five wave rally on the smaller fractal (5min chart)? the volume makes perfect sense, all fourth waves are wedges, all fractals in tact. the next rally will either be a 3 or a five. the implications are critical. If panic has truly been resolved, the next rally will swiftly pass 540 and maybe 560.

3200 is critical on Huobi. if we break that level, it is highly bullish.

Well here comes try #1.

[seriouscoin]

Check this out: https://bitcointalk.org/index.php?topic=178336.msg1858465#msg1858465

See anything similar?

[TERA]

Anyone else watch this just for entertainment?

[FullLife]

Anyone else watch this just for entertainment?

That depends, what am I looking at?

[TERA]

Anyone else watch this just for entertainment?

That depends, what am I looking at?

LTC/CNY on okcoin,  where supposedly half of all litecoins are traded daily.

[cAPSLOCK]

HOLLAR OUT TO ELLIOT WAVE ANALYSTS

y'all see a five wave decline terminated and a five wave rally on the smaller fractal (5min chart)? the volume makes perfect sense, all fourth waves are wedges, all fractals in tact. the next rally will either be a 3 or a five. the implications are critical. If panic has truly been resolved, the next rally will swiftly pass 540 and maybe 560.

3200 is critical on Huobi. if we break that level, it is highly bullish.

Well here comes try #1.

*Bink*

[chessnut]

HOLLAR OUT TO ELLIOT WAVE ANALYSTS

y'all see a five wave decline terminated and a five wave rally on the smaller fractal (5min chart)? the volume makes perfect sense, all fourth waves are wedges, all fractals in tact. the next rally will either be a 3 or a five. the implications are critical. If panic has truly been resolved, the next rally will swiftly pass 540 and maybe 560.

3200 is critical on Huobi. if we break that level, it is highly bullish.

Well here comes try #1.

*Bink*

Big order at this level on stamp. (relatively)

[TERA]

Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.

[chessnut]

yup lots of big orders I saw around that level. but it needs time to tell. Though I think this does mean that the wall that was placed there many hours ago is gone. maybe sold to market.

[windjc]

Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.

465-475 was a BIG support level with the 300 EMA. But this bounce is on small volume. Everyone of the bounces lately have been enemic.  The bears gave the bulls every chance in the world to breach $620. And the bulls didn't even try.

Meanwhile, the bears got bored and dropped us 20% on "rumors". If and when those rumors get confirmed on the exchanges I don't see the bulls putting up a fight until $400ish. I could be wrong, but the buyers are just not around right now.

[seriouscoin]

Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.

465-475 was a BIG support level with the 300 EMA. But this bounce is on small volume. Everyone of the bounces lately have been enemic.  The bears gave the bulls every chance in the world to breach $620. And the bulls didn't even try.

Meanwhile, the bears got bored and dropped us 20% on "rumors". If and when those rumors get confirmed on the exchanges I don't see the bulls putting up a fight until $400ish. I could be wrong, but the buyers are just not around right now.

Well less ppl leaving funds in exchanges after the MtGox fiasco, plus traditional bank wiring is too slow.

Meanwhile, moving btc is almost instant.

[TERA]

Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.

465-475 was a BIG support level with the 300 EMA. But this bounce is on small volume. Everyone of the bounces lately have been enemic.  The bears gave the bulls every chance in the world to breach $620. And the bulls didn't even try.

Meanwhile, the bears got bored and dropped us 20% on "rumors". If and when those rumors get confirmed on the exchanges I don't see the bulls putting up a fight until $400ish. I could be wrong, but the buyers are just not around right now.

And look at emptystamp!

[seleme]

Both drop and bounce were on pretty low volume, I didn't see lot of wish to sell below 500 last night too, not more than 5-6k coins were sold below $500 on Bitstamp.

But if China news are confirmed true than we'll surely visit that again, specially if bounce is blocked at these levels. I guess 400$ will hold, we'll see. I'd be happy to buy at 400$ even if it doesn't, it would bounce there fast.

If China news is proved false than we might have seen bottom and are close to trend reversal.

[chessnut]

Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.

465-475 was a BIG support level with the 300 EMA. But this bounce is on small volume. Everyone of the bounces lately have been enemic.  The bears gave the bulls every chance in the world to breach $620. And the bulls didn't even try.

Meanwhile, the bears got bored and dropped us 20% on "rumors". If and when those rumors get confirmed on the exchanges I don't see the bulls putting up a fight until $400ish. I could be wrong, but the buyers are just not around right now.

question; do bulls buy or do bears buy?

If I was a bull and wanted to buy, I wouldnt pay 620 even if I was offered the chance, because I could buy at market price of 520. bulls and bears are mythical creatures. more often than not, bears buy, and bulls sell. Bears fight for lower prices, Bulls fight for higher prices.

The person who drives the price to 620 will do so not out of choice.

[GameStarter]

2K coins to go to 466$ on Stamp, pretty scary.

[koryu]

what confuses me is, that the volume specially on chinese exchange was bit low for a bottom.

anyway some of my bids triggered, on ltc i hit the "bottom" exactly and also could grab some cheap btcs.  and now? i think its too risky to sell and hope for cheaper prices.

[windjc]

what confuses me is, that the volume specially on chinese exchange was bit low for a bottom.

anyway some of my bids triggered, on ltc i hit the "bottom" exactly and also could grab some cheap btcs.  and now? i think its too risky to sell and hope for cheaper prices.

Right the volume is low in China too. The volume was higher on the fall to 3060 than the fall to 2800.

Does not feel like a bottom to me.

[koryu]

what confuses me is, that the volume specially on chinese exchange was bit low for a bottom.

anyway some of my bids triggered, on ltc i hit the "bottom" exactly and also could grab some cheap btcs.  and now? i think its too risky to sell and hope for cheaper prices.

Right the volume is low in China too. The volume was higher on the fall to 3060 than the fall to 2800.

Does not feel like a bottom to me.

yes thats what i mean, on bitstamp and btc-e the volume was higher on fall to 466 than on fall to 505 but on chinese exchanges it wasnt

[TERA]

what confuses me is, that the volume specially on chinese exchange was bit low for a bottom.

anyway some of my bids triggered, on ltc i hit the "bottom" exactly and also could grab some cheap btcs.  and now? i think its too risky to sell and hope for cheaper prices.

Right the volume is low in China too. The volume was higher on the fall to 3060 than the fall to 2800.

Does not feel like a bottom to me.

yes thats what i mean, on bitstamp and btc-e the volume was higher on fall to 466 than on fall to 505 but on chinese exchanges it wasnt

This is the difference between an exchange that is dying and an exchange where the price is simply falling. People who sell their bitcoins on Huobi are withdrawing CNY as fast as possible rather than staying around to rebuy. Over time, the volume at Huobi will become less and less and volume will shift into bitstamp, bfx, and btce until they have enough volume to support the price on their own. Today, the volume on stamp is 56,000BTC which isn't nearly enough for a bounce when the last crash (gox) WITH China had 140,000BTC volume, and it'll probably need to be even greater than that, such as 200,000BTC volume.

[chessnut]

aye, 3200 is a tough nut to crack.