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Question: How far will this leg take us?
$110K - 7 (8%)
$120K - 15 (17%)
$130K - 12 (13.6%)
$140K - 9 (10.2%)
$150K - 15 (17%)
$160K - 1 (1.1%)
$170K+ - 29 (33%)
Total Voters: 88

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26797872 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 1 users with 9 merit deleted.)
JorgeStolfi
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April 04, 2014, 05:19:59 AM

You'll know when the Bank stop processing withdrawals. The price of Bitcoin will shoot up. So long as you can get fiat out the FUD drivers people sell Bitcoin's, and withdraw fiat, when you have fiat on an exchange but can't withdraw it you buy Bitcoin and withdraw that.

The effect shoots the price up. It's FUD untill we see people panic buy into Bitcoin.

True ... if CNY withdrawals are suspended without advance warning, and the client's yuans get trapped in the exchange account.

But if the clients will have some advance warning, as the Caixin rumor claimed, I supose that most of them would sell (maybe even panic sell) their coins to arbitrage traders or hoarders, and take the cash out before the deadline.

Moreover, if CNY withdrawals are suspended, arbitrage between the Chinese exchanges and the rest of the world may become impossible.  In that case, even if the price shoots up at the Chinese exchanges, it will drop somewhat on Western exchanges,  as they receive the Chinese coins but not the Chinese money.   

I can't see how a decline of bitcoin trading in China could lead to a price increase.  If the blocking of bank accounts turns out to be a false rumor, as Huobi's note suggests, then perhaps the price will recover in time to the 3000--3500 CNY range (500--570 USD), even if the 3rd party channels remain closed.  If the bank accounts are closed too, the price in Western exchanges can only go down.
Jeezy911
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April 04, 2014, 05:23:08 AM

This is why you dont sell lower than buy price. You 270ers by the weekend sellers are screwed now hu?
chessnut
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April 04, 2014, 05:24:49 AM

This is why you dont sell lower than buy price.

not sure what you mean by that?
spooderman
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April 04, 2014, 05:36:18 AM

How many speculators are on this forum dammmmnnnn long thread
Anyways almost the 1 year anniversary of this thread lol

Probably 20% 10% of the posts have been liquidated recently, so it's not as long as it was  Grin

Start at the beginning, let us know when you catch up  Cheesy

i got involved around page 500. read pretty much everything since, and I only have about 6 people on ignore.

And guess what? I've basically HLOD for the whole time!
JayJuanGee
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April 04, 2014, 05:39:57 AM

You don't need to defend yourself to anyone JJG. Chill.  Smiley



 Cool    Cool    Lips sealed
spooderman
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April 04, 2014, 05:40:57 AM

So then you're never planning on selling Bitcoin unless it is lower than it is now? Interesting strategy...

Jeezy911
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April 04, 2014, 05:42:30 AM

This is why you dont sell lower than buy price.

not sure what you mean by that?
People were talking about how they sold yesterday for lower than they bought to get in at a lower price. Its a great idea until the price goes up, then you are fkd.
silverfuture
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April 04, 2014, 05:54:09 AM

420 will be tested within 12hrs. It might be briefly breached but 420 is very strong resistance and will HODL!

Brace yourselves!
windjc
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April 04, 2014, 05:55:10 AM

Weird.

I was expecting that Huobi's note "no problem with banks" would cause a price surge today.

Was it all "spent" on yesterday's surge, that lifted the price from ~2500 CNY to ~2650?


Jorgi,

Its simple. This is what a bear market looks like. Bad news sell, good news nothing.

One day, when it flips again, you will see the opposite.

But for the most part "news" just gives the market an excuse to go where it wants to.
ChartBuddy
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April 04, 2014, 06:00:37 AM


Explanation
chessnut
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April 04, 2014, 06:00:58 AM

420 will be tested within 12hrs. It might be briefly breached but 420 is very strong resistance and will HODL!

Brace yourselves!

Looking at huobi it seems like 420 might not even be tested (bitstamp)
windjc
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April 04, 2014, 06:09:55 AM

420 will be tested within 12hrs. It might be briefly breached but 420 is very strong resistance and will HODL!

Brace yourselves!

Looking at huobi it seems like 420 might not even be tested (bitstamp)

This is just more consolidation. We might go up a few, down a few, etc. etc. The bid sums on the exchanges above 400 are shallow. Its only going to take one more major leg down to finally test 400.  Could come over a nervous weekend, could come on some more bad "news" (ie excuse) next week. That wall on Bitstamp will get its chance within the next 7-10 for sure.
silverfuture
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April 04, 2014, 06:12:49 AM

Weird.

I was expecting that Huobi's note "no problem with banks" would cause a price surge today.

Was it all "spent" on yesterday's surge, that lifted the price from ~2500 CNY to ~2650?


Jorgi,

Its simple. This is what a bear market looks like. Bad news sell, good news nothing.

One day, when it flips again, you will see the opposite.

But for the most part "news" just gives the market an excuse to go where it wants to.


So true. The trick (and the hard part for many) is knowing which market you are in at any given time.
Davyd05
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April 04, 2014, 06:13:21 AM

420 will be tested within 12hrs. It might be briefly breached but 420 is very strong resistance and will HODL!

Brace yourselves!

Looking at huobi it seems like 420 might not even be tested (bitstamp)

I feel we're on a psychological see-saw, the bears are all on one side the bulls dipping toes from the middle into bear territory and then there are the hodlers on the opposite side. I rode out the dips to 380 without selling in the lows so this should be a cake walk Cheesy I figure trend reversal will be sparked eventually by a new fund similar to Second Market or Winkle Trust kind of draining the supply of coins. I figure a fair bit of bulls have to get burnt due to the amount of despair in the air Cheesy
Hypnoise
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April 04, 2014, 06:16:41 AM

This is why you dont sell lower than buy price. You 270ers by the weekend sellers are screwed now hu?

in fact I sale lower then buy. during dumps it make sense sometimes.
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April 04, 2014, 06:28:07 AM

Finally! Stamp starting to drag Huobi around now.
silverfuture
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April 04, 2014, 06:28:29 AM

The current bears are not real bears... they are former bulls, perma bears, uber bears and "end of the world-ers" . It's the real bears with all that fiat, ready to buy once they get the signals. The real bears sodl long ago.
JayJuanGee
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April 04, 2014, 06:39:35 AM

I do NOT like to jump into anything too quickly before I kind of have some ideas about it.... and by the time I was getting more informed the price was skyrocketting.  Accordingly, I began my investment at about $1200.

Pro tip: learn quicker. That way you don't stagnate and buy in at the top; losing a bundle dollar costing all the way down....

why don't you describe a few paragraphs of some learning experience(s) that you had that had "enlightened" you about the ways of the world

Um, ok then, I guess.

I have always been really into the Cosmos. I used to be just chillin in the back of my Montessori Pre-K school content for hours reading books about space. I got into the practicalities of capitalism during my teenage years, starting my first successful business at 18 and operated that for nearly five years throughout college. Man what a time that was.  Then I went to Oxbridge for a bit, studying Maths and Philosophy. Ho and hummed through my mid 20s, including > a year at a hedge fund as a trader. Was Valedictorian of my Grad program at a top 2 engineering institution after that.

Always business minded, and liked to build shit. But I've never lost that love of the Cosmos. All that was Preamble to my main point. Here's one Learning Experience that makes me qualified to say what I said after reading dozens of your posts ITT....

I decided to take a grad course in Physics, though I'd never formally even taken any course like that during my years in undergrad. I was, and have always been fascinated with the deepest realities of existence. So I got to wondering about some things, and realized the coolest dude on campus to speak to was this guy who was a Nobel Prize winner. We had a similar background, with the Oxbridge thing. So I thought, I'll just email him and we'll chat.

And that's exactly what happened. For one Summer a few years back I got the chance to talk a couple of times, one-on-one, deep, with a Nobel Laureate. The kind of dude who drops anecdotes and kernels of understanding so deep, I'll spend a lifetime thinking about the questions they raise. Knowing that I'm likely not ever to stumble on the answers, because I'm not quite that bright.

You ever done that? Ok then. I stand by my statement. Learn quicker, it can be done.

Pro tip #2...rely on your intuition, after learning to well hone its snap judgements....
“The intuitive mind is a sacred gift and the rational mind is a faithful servant. We have created a society that honors the servant and has forgotten the gift.”
-Einstein

Again - You are continuing to project a patronizing approach, which may be a character difficulty that you cannot easily shake......

I feel bad for you, but what can I do? 

You don't seem to get hints or subtlety... and seem to want to amp up your supposed contribution to benefit me by dishing out additional unsolicited advice to make some kind of mysterious point.   Some people can take hints, very well, and some cannot.     Roll Eyes

It does seem that you remain determined to get your way and attempt to jam your supposed higher learning upon me (or maybe it is for the benefit of the public?), while missing my earlier point about each of us coming to our situations from different perspectives and experiences.. .in which that was a hint that you may not know all of the circumstances of a persons goals, values and aspirations.

  I do appreciate you sharing some of your background to the extent that some of that information may have been quasi-relevant to make your point about your qualification(s) in making your points.  I also appreciate that you had read several of my earlier posts, which makes me feel somewhat comforted to find out that at least one person is reading some of my posts - nonetheless, you seem to continue to want to attempt to resort to a form of arm-chaired investment "advice" with incomplete information, while presuming and/or proclaiming that you have sufficient information about my situation.

Even though I get the sense we do NOT need to go on with exchanges of communications, for the sake of humor, I look forward to perusing your unsolicited pro tip #3.   Roll Eyes  since you may NOT be able to resist with such.  Who knows?  Your behavior may be like bitcoin prices, mostly difficult to predict the direction in the short-term...



JorgeStolfi
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April 04, 2014, 06:45:38 AM

2533XBT bought yesterday [ by SecondMarket's BIT fund ] . This compensated the sale on 2 Apr and the estimated holding is again at an ATH of 96941XBT
freebit13
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April 04, 2014, 06:46:47 AM

This is why you dont sell lower than buy price.
not sure what you mean by that?
People were talking about how they sold yesterday for lower than they bought to get in at a lower price. Its a great idea until the price goes up, then you are fkd.
LOL, that's the funniest thing I've read today...
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