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

[TERA]

I don't get the people who actually think this is a major trend reversal into the next bubble when huobi is still open and still leading. Like they didn't learn the first 8 times.

key word 'leading'

which way is it leading? UP

it's obvious it's reversal. we've had 100% confirmation and worse, but the chinese just don't care.

you would know it's a textbook reversal when there is bad news, the market spikes and then rallies. sellers are exhausted. you should expect a big rally, at least before the 14th.

I don't care about "news" - I care about what happens when the Chinese banks actually get shut down.

how did you learn that they would?

My point is I believe that the inpact of an actual shuwdown would be much greater than the impact of the mere information that such is a possibility. As long is it is not actually done yet, there are still people with hope, still people believing in "FUD", still Chinese buying bitcoins, and still Chinese not selling their bitcoins. The 'chinese ban' has happened so many times that people think of it like the boy who cried wolf now, but wait until it actually happens.

[obitoo]

Bulls pump, Bulls dump

[chessnut]

My point is I believe that the inpact of an actual shuwdown would be much greater than the impact of the mere information that such is a possibility. As long is it is not actually done yet, there are still people with hope, still people believing in "FUD", still Chinese buying bitcoins, and still Chinese not selling their bitcoins. The 'chinese ban' has happened so many times that people think of it like the boy who cried wolf now, but wait until it actually happens.

The FUD is certainly not chinese buying bitcoins, the FUD is chines banning bitcoins, which is not true in effect or in legislation.

The market has had many months to prepare for this. it's not a convincing theory.

if the chinese dont want to sell their bitcoins, maybe they wont?

[magicmexican]

looks like its 2800 and below again

[Mervyn_Pumpkinhead]

didi anyone catch the volume on those huobi sells? 2-3k btc or something?

Not quite epic though... and I still don't trust the volume on Huobi.

Would be nice to see one of the other exchanges lead for a change.

Huobi is an 0% fee exchange that is hiding the low buy interest with meaningless volume. 0 fee exchanges are making the general market overview less transparent. That is actually one of the important reasons on why the price isn't falling quicker. If Bitstamp would be the market leader with it's realistic and transparent volume, then the price would fall a lot quicker.

[podyx]

bear traps will happen so we can keep the bearish sentiment

[bangersdad]

Weak rise.

Any chance it comes back to to 450 or are we set to hover 490-510?

Look to huobi, that is the market leader.

Huobi is showing a lot of strength. I expect 540 in 12 hours.

maybe you should have gone short at 490.

[chessnut]

maybe you should have gone short at 490.

there is some more 'news' about. check it out. nothing new. this will fail just like the last one.

[TERA]

Looks like stamp still just mindlessly follows Huobi. I can't see how this is possibly bullish.

[dreamspark]

So now $15 price movements are classed as significant?

[surfer43]

So now $15 price movements are classed as significant?

When they are as much as the movement in the last 12 hours, yes.

[GameStarter]

http://www.btc38.com/btc/btc_exp/1232.html

[tarmi]

didi anyone catch the volume on those huobi sells? 2-3k btc or something?

Not quite epic though... and I still don't trust the volume on Huobi.

Would be nice to see one of the other exchanges lead for a change.

Huobi is an 0% fee exchange that is hiding the low buy interest with meaningless volume. 0 fee exchanges are making the general market overview less transparent. That is actually one of the important reasons on why the price isn't falling quicker. If Bitstamp would be the market leader with it's realistic and transparent volume, then the price would fall a lot quicker.

Indeed.

On a sidenote,  it has been always like that in bitcoinland.  The leading markets were the ones that are less transparent. Gox,  and 0 fee chinese exchanges.  Dont know why.   

[chessnut]

This has no follow through..... these chinese shoot first and think after. This news already came out.

[TERA]

I guess this is just more "FUD", right?

[chessnut]

I guess this is just more "FUD", right?

will see soon TERA.

it has no follow through..... the real players are obviously not convinced.

this has happened before, just two days ago. it's just FUD.

[dreamspark]

So now $15 price movements are classed as significant?

When they are as much as the movement in the last 12 hours, yes.

Still wouldn't agree, what is significant about a 3% price change and what does it tell you about the market.

[ChartBuddy]

Explanation

[chessnut]

Bitstamp hasnt even left it's daily range. Im not shakin in my moon boots cos of a $10 drop.

[TERA]

I guess this is just more "FUD", right?

will see soon TERA.

it has no follow through..... the real players are obviously not convinced.

this has happened before, just two days ago. it's just FUD.

Take a lesson from physics. It takes a lot of work to reverse an uptrend, before something can start falling. There was a lot of force behind that bounce and I thought we would end up going all the way to 550. 4 hour MACD was way up. A sudden drop to new lows is not really feasible right now, especially with btc38 which wasn't that significant of an exchange. Now wait till 4 hour macd goes down and then you'll see your follow through.