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

[soullyG]

if china go under 3000 again we will see some panic

Seems like this is not to be

3000 CNY just broke, how far will we drop..

https://www.youtube.com/watch?v=mKZT2u3gYQI

[Todorius]

Why is everyone still following Huobi with their goddamn fake volume?

Trader at stamp:
"Oh look, Huobi is going down, I guess I have to click the sell button, fast!!!"

[stereotype]

There is seriously no confirmed news coming out of China yet?  

Bloomberg is calling it within another article.... http://www.bloomberg.com/news/2014-03-28/bitcoin-2-0-shows-technology-evolving-beyond-use-as-money.html

"The price of Bitcoin plunged almost 10 percent yesterday after China’s central bank ordered banks and payment companies to close the trading accounts of more than 10 Bitcoin exchanges. Bitcoin was valued at about $500 yesterday, according to the CoinDesk Bitcoin Price Index."

[chessnut]

Why is everyone still following Huobi with their goddamn fake volume?

Trader at stamp:
"Oh look, Huobi is going down, I guess I have to click the sell button, fast!!!"

Lol if you ask me stamp is very resilient right now. but follow we must, because arbitrage is never far away.

......I doubt that we will pass the lows for a few hours, if ever.

[fr33d0miz3r]

Why is everyone still following Huobi with their goddamn fake volume?

Trader at stamp:
"Oh look, Huobi is going down, I guess I have to click the sell button, fast!!!"

That's what Huobi is created for.

[hdbuck]

Why is everyone still following Huobi with their goddamn fake volume?

Trader at stamp:
"Oh look, Huobi is going down, I guess I have to click the sell button, fast!!!"

well maybe because people at huobi also rather sell them coins to stamp or wherever price is still a little bit higher - until it followed huobi's price because of that same selling pressure.

its a loop!

[chessnut]

smart money is buying coins on Huobi, and selling them on stamp asap. the arbitrage is huge. no doubt it'd been going on all day.

[Todorius]

You guys are right, but it's brutal to watch.

I'm looking forward to the day when Huobi et al. will follow Gox into the graveyard of BTC exchanges in the not too distant future.

It will be a wonderful time!

[chessnut]

http://www.timeanddate.com/worldclock/sunearth.html

good night china, sweet dreams!

[magicmexican]

Nice reverse head&shoulders @15min chart

[chessnut]

Nice reverse head&shoulders @15min chart

... If it could just try 520 again, I might get some really good sleep. Its tough buying at the bottom.

[GameStarter]

i guess Huobi want to show us that 3000 is the new resistance

[chessnut]

nope, no panic under 3000..... just like Bitstamp and BFX have been feeling around 495 for a few hours. 

I got a good feeling about this.

[minerpumpkin]

When people are complaining and saying "its not cheap yet" after missing a bottom its usually a dead on indicator to buy

yeah exactly, and especially so many people looking to buy at 300-400. for that reason alone it cannot reach that price.

You're in since November? I thought/feared the same thing after getting in after the "popped" bubble in May and saw a steady decline for months. Turns out, this "slow death" has happened quite a few times before and is considered "normal' in bitcoin land. We're still at about 25x of where we've been this time last year.

[magicmexican]

nope, no panic under 3000..... just like Bitstamp and BFX have been feeling around 495 for a few hours. 

I got a good feeling about this.

"I feel good today, Silent Bob, we're gonna make some money"

[bangersdad]

When people are complaining and saying "its not cheap yet" after missing a bottom its usually a dead on indicator to buy

yeah exactly, and especially so many people looking to buy at 300-400. for that reason alone it cannot reach that price.

You're in since November? I thought/feared the same thing after getting in after the "popped" bubble in May and saw a steady decline for months. Turns out, this "slow death" has happened quite a few times before and is considered "normal' in bitcoin land. We're still at about 25x of where we've been this time last year.

i bought my fist bitcoin on 9th March last year - and i still have the price i bought written on my whiteboard - £32.99
it just puts it into perspective to where we are now.

[chessnut]

When people are complaining and saying "its not cheap yet" after missing a bottom its usually a dead on indicator to buy

yeah exactly, and especially so many people looking to buy at 300-400. for that reason alone it cannot reach that price.

You're in since November? I thought/feared the same thing after getting in after the "popped" bubble in May and saw a steady decline for months. Turns out, this "slow death" has happened quite a few times before and is considered "normal' in bitcoin land. We're still at about 25x of where we've been this time last year.

whats important is the change in sentiment, not the sentiment its self. I have never had such a hard time convincing people to sell at 750. no, it was moon time then. now, it's time for cheap coins, and I say, nay, wrong once, wrong twice. the herd will lose.

[TERA]

I think bitfinex is doing that thing where it accidentally shows the dark orders. That 1K buy is not on stamp.

[chessnut]

small scale double bottom, stamp is getting warmed up to 500s again. likely to find a happy spot at 520 soon.

[creekbore]

I got a good feeling about this.

Yeah...bugger all that EW nonsense...fall back on wishful thinking