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

[chessnut]

The test is nigh

[Davyd05]

hoping the 600 at 2780 get sold

[TERA]

[tarmi]

go green!

[ErisDiscordia]

You guys are still calling the China bank situation FUD even after btc38 and another Chinese exchange stopped deposits?

To be honest, calling the PBoC situation "FUD" seems quite appropriate to me. Remember, FUD stands for Fear, Uncertainty and Doubt. Yes, the acronym is being thrown at any piece of bad news lately, even if official and confirmed, but that doesn't change its underlying meaning.

So does the situation check the boxes?

Fear - definitely yes
Uncertainty - debatable. You seem to be claiming that the outcome is quite certain, many others are not so sure.
Doubt - plenty of that going around. People doubt the legitimacy of sources and how/when/if the (vague) statements will be enforced

I'm not saying we should ignore this very real piece of FUD, or that it's actually going to take us to the moon. Just that calling it FUD seems fine from an etymological standpoint.

[Davyd05]

next push in 15 minute my guess

[TERA]

On an intraday scale, China chart is looking bearish now with a false breakout.

Why do you think it's false?

When a price breaks out of a consolidation only to immediately meet resistance and does a lot of volume while only making a small rise relative to the previous rise, it is likely to be fake and reverse. At the time of my post, it had fallen all the way back down to the breakout point so I thought that was the reversal, though my timing was a bit off and I should have waited till it actually fell lower than the breakout point to speak.  Also, this is a likely failure point because price is running into emas on the 4 hour and 1 day chart which shouldn't be breached until the 1D MACD is crossed.

[fonzie]

Bull trap finished -new lows about to be confirmed soonish.

[TERA]

Bull trap finished -new lows about to be confirmed soonish.

Unless huobi closes tomorrow, I am not expecting a new low out of this. The short term trend is just too weak now. I expect one or two small waves down with higher lows and then a breakout into $500s once the 1D MACD is crossed, like this:

[Mythul]

So are the rockets preparing to launch ? 

[ChartBuddy]

Explanation

[podyx]

Did the 451 wall get eaten yesterday? (stamp)

[MinermanNC]

Really, we just don't know yet what to make of things..... perhaps business as usual for another week or so? lol

http://www.coindesk.com/btc-china-dismisses-pboc-fears-open-letter/

I'm sure most have seen this

[billyjoeallen]

Another way to look at it is this: if you buy into my sell orders, you'll be buying coins that I picked up for ~$10 three years ago. Those coins might make you money, but not as much as they made me.  If price rockets to $600, $700, or higher, you'll still be buying my coins. I guarantee you'll run out of fiat before I run out of bitcoin, Suckers.

[fonzie]

Bobby Lee is as nasty as Mark K.

[chessnut]

Another way to look at it is this: if you buy into my sell orders, you'll be buying coins that I picked up for ~$10 three years ago. Those coins might make you money, but not as much as they made me.  If price rockets to $600, $700, or higher, you'll still be buying my coins. I guarantee you'll run out of fiat before I run out of bitcoin, Suckers.

when you bought at 550, I thought that was a good move, if not overly ambitious. but why the change? we stalled at the floor and you are bearish now? all the problems in china are short term.

[billyjoeallen]

Another way to look at it is this: if you buy into my sell orders, you'll be buying coins that I picked up for ~$10 three years ago. Those coins might make you money, but not as much as they made me.  If price rockets to $600, $700, or higher, you'll still be buying my coins. I guarantee you'll run out of fiat before I run out of bitcoin, Suckers.

when you bought at 550, I thought that was a good move, if not overly ambitious. but why the change? we stalled at the floor and you are bearish now? all the problems in china are short term.

If market conditions change, then my market outlook will change. Until then I'm not going to risk losing any more money. I may be a slow learner, but I've learned to cut my losses.

[Adrian-x]

Another way to look at it is this: if you buy into my sell orders, you'll be buying coins that I picked up for ~$10 three years ago. Those coins might make you money, but not as much as they made me.  If price rockets to $600, $700, or higher, you'll still be buying my coins. I guarantee you'll run out of fiat before I run out of bitcoin, Suckers.

when you bought at 550, I thought that was a good move, if not overly ambitious. but why the change? we stalled at the floor and you are bearish now? all the problems in china are short term.

This process is called coin dissemination it's imperative for adoption, it's driven by understand or fear, regardless it's a bull signal even if it's small.

[dreamspark]

As a true believer though, at what point do you buy back. These people maybe buying your coins but your going to want them back if the price keeps rising. If your thoughts are well its pure profit and your not looking to put it back in to BTC then this is a weird time to be doing that.

[chessnut]

If market conditions change, the my market outlook will change. Until then I'm not going to risk losing any more money.

but when your sell orders have been filled up to 700, the market will indeed be changed. the wedge will have broken upwards and the bubble will be looking very similar to the previous ones. dont let it pass you by.