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

[Mythul]

Man my wire is taking too long.....hope I don't miss the bottom on this one again 

[Davyd05]

"So far, two biggest exchanges Huobi and Okcoin claimed that they haven't received any notice or document yet. "

http://www.bitell.com/t/2063

What the hell is going on over there? Its like Mark Karpales is running all the major Chinese exchanges too. 3 exchanges say they have gotten notices and 3 say they haven't.

It sounds like a stall tactic to me. They MUST know by now what's up. I guess they are trying to work on contingencies or they are trying to figure out how best to spin this story.

Everyone is watch Houbi though, so that's the one we have to wait wait wait for confirmation from.  And they are the least likely to give us a straight answer, imo.

smells like compliance issues, but I dunno not experiencing any of the news first hand quite sad

What do you mean "compliance issues?"

do transactions this way...with in this channel etc etc or no transactions at all

[windjc]

There is no erratic panic selling. It's all been used up. this market showed us today how vulnerable the bears are, and we will see again before too long.

You should have sold in the 480s. Not that we won't see them again, but you are yelling into a tidal wave right now.

[ChartBuddy]

Explanation

[chessnut]

There is no erratic panic selling. It's all been used up. this market showed us today how vulnerable the bears are, and we will see again before too long.

You should have sold in the 480s. Not that we won't see them again, but you are yelling into a tidal wave right now.

lots of people like to assume what I did/ didnt do.

unless you mean I should have shorted at 480...

because today has been a good day for me, even creekbore would know. I shorted at 468 last night as I promised in that scenario, woke up to good profit this morning. Now I am patiently waiting for the next bottom, if there be one.

I cant name numbers, but frankly the selling pressure is getting embarrassingly weak in the face of disaster.

[niothor]

Looking through the last 10 pages and nobody has used the term "cheap coins" even once.
That's quite bearish:)

[greenlion]

"So far, two biggest exchanges Huobi and Okcoin claimed that they haven't received any notice or document yet. "

http://www.bitell.com/t/2063

Is it possible this means that China is about to start handing out actual licenses for the biggest players, like they do with practically every new industry eventually, and the exchanges that are getting notifications are the ones that haven't made the cut?

[ElectricMucus]

"So far, two biggest exchanges Huobi and Okcoin claimed that they haven't received any notice or document yet. "

http://www.bitell.com/t/2063

Is it possible this means that China is about to start handing out actual licenses for the biggest players, like they do with practically every new industry eventually, and the exchanges that are getting notifications are the ones that haven't made the cut?

lol cognitive dissonance at work.

[ElectricMucus]

In psychology, cognitive dissonance is the excessive mental stress and discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time

[greenlion]

"So far, two biggest exchanges Huobi and Okcoin claimed that they haven't received any notice or document yet. "

http://www.bitell.com/t/2063

Is it possible this means that China is about to start handing out actual licenses for the biggest players, like they do with practically every new industry eventually, and the exchanges that are getting notifications are the ones that haven't made the cut?

lol cognitive dissonance at work.

Plenty of possible theories what's going on no doubt, but it might mean something that the biggest Chinese exchanges haven't purported to have heard anything.

[chessnut]

Looking through the last 10 pages and nobody has used the term "cheap coins" even once.
That's quite bearish:)

well I think thats just taken for granted  

[koryu]

Frankfurt becomes first RMB clearing hub outside asia

Deutsche Boerse AG, which operates the Frankfurt Stock Exchange, also signed an agreement with Bank of China, expanding a partnership that will make it easier for Chinese issuers and Asian investors to access European capital markets, including stock listings.

http://www.businessweek.com/news/2014-03-27/frankfurt-sets-sights-on-yuan-offshore-trade-as-xi-visits-merkel
http://www.china-briefing.com/news/2014/03/31/frankfurt-beats-london-become-first-rmb-clearing-hub-outside-asia.html

what does it mean? can chinese trade cny/cnh to eur then or they can only access stock market? could it help chinese to trade bitcoins in europe in any way?

[JayJuanGee]

Just another day in the Bitcoin market...

Exchange x stopped deposits in y currency?!?! 
This means that the price should go down artificially on that exchange. 
I think everyone else will dump because they think everyone else will dump because of this news.
Panic sell!!!

If I understand it, a ban in China is not like shutting BTC-E down. It would prevent the whole country from being able to invest in Bitcoin. If BTC-E goes down, people can just move exchanges. This should cause a massive devaluation of BTC unless we happen to end up in another hype cycle (or, deposits come back)

I really dont believe the China ban is "factored in". Much like Gox, and countless other things that were 'already' factored in.

The price seems to be only factored in if the confirmation ends up being more or less materially the same as the rumor. 

Otherwise further price adjustment may need occur based on the confirmation of the rumor. 

On the other hand, if the confirmation of the rumor ends up being exactly the same as the rumor.. then it seems very likely that the market would have already mostly accounted for that news based on the rumor rather than the confirmation of the rumor....

I think that is the general rule... but of course there can be exceptions to any rule or a failure to fully appreciate the significance of the rumor until after the rumor is confirmed.

[8up]

This is not ment to be technically correct TA. Anyways I wanted to share this point ov view. Exchange is 1day @Huobi.

[JayJuanGee]

400 is defended well but if it fails, it's gonna be a show time 

What is your confidence level that BTC prices are even going to get there?  And by when?  Within the next 24 hours?

[smoothie]

This is not ment to be technically correct TA. Anyways I wanted to share this point ov view. Exchange is 1day @Huobi.

Up up up from here. Let's build a base.

[windjc]

This is not ment to be technically correct TA. Anyways I wanted to share this point ov view. Exchange is 1day @Huobi.

My apologies, but this chart makes no sense.

[JayJuanGee]

Selling now and waiting for china to crash to 2300-2100 is probably not a bad idea, since the bigger dump always happens about 8h~ after the "news"

So you finally SODL , bulls changing minds, i guess the low isn't that far!

I said it would probably be an okay idea, but i didnt sell , because overall the price is too low

I have a difficult time, too, bringing myself to sell at such a low price.. even though there could be a negative price reaction in 8 hours or so... maybe I will just buy more at that time.. I cannot see a for sure or guarantee that the price will drop by more than possibly $20.. to $420 or so?... Who da fuck knows, for sure?  If I knew for sure, id be rich.. and Id be in the black rather than currently being in the red.

[JayJuanGee]

For negative stuff isn't it sell on rumours buy on news?

It's amazing how people forget this. Remeber pre-Gox, when it was all about China? By the time the deadline came we were stable / inching up and if it hadn't been for Gox we would have continued that way I reckon.

Maybe there is another way, but to me it looks like there is going to be an epic showdown between $380-$420. The bid sums are already lined up, with plenty more waiting in the wings. But China is going to attempt to take us down to $200s

We need real capitulation and I think we are going to have a chance at it when these two forces meet.

ARe these supposed forces, about which you speak, real?

[sonofliberty]

Dude.