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

[Dalmar]

https://i.imgur.com/7W8AxpI.png

710 to 581 resistance line (stamp, on log) seems to be at work for now.

[rpietila]

to pop some bubbles: 3320ish on huobi is the breakout point and would prove the breakout of bearish trend started last year - and thats quite a way to go

To this and similar thinking I would say: The large traders are not following these technical patterns, they are creating them.

This thread was started as Wall Observer - previously there were large single orders which formed "walls" in the depth chart. But they have always been erected by the market manipulators, because they are the only ones with that many coins (then BTC10-BTC20k, now even BTC2k is considered a wall).

From my experience I can tell that wall building can fake selling pressure, and force the price down by 15% followed by buyback. At least it did in May, 2013.

If I had 35,000 bitcoins, I could manipulate the market all I wanted, and make money doing so. Hint: it is only 0.3% of world's bitcoins and there are several people who have it, and who most probably operate in the markets.

Please do not consider that Bitcoin market is more free market than any market in the "free market" countries. They are all ruthlessly manipulated to achieve various aims, and the way for you to make a small annual gain in the number of your bitcoins (which actually increases your % of world's bitcoins, because of the low inflation) is to hold, sell high, and buy back low, and not fall on the trap that the "technicals" can forecast anything, because they are fabricated. And be content what you get, and not short.

[windjc]

windjc might get a chance to go short before shanghai breaks for supper

I hope so.

We haven't broken any trendlines by the way. That trendline is sitting about where we are now and the one above is sitting just below 520. So hopefully we continue this squeeze up until all my glorious shorts are filled.

Epic call  if it plays out as you planned. I didnt think it would get this high, im doubling down on shorts. Chinese shark is toying with these $500 bagholders.

I have to give the bulls some credit here. After literally WEEKS of the lamest rallies ever, they finally have been able to push this in the relative vacinity of the upper trendline. That is quite an accomplishment for the bulls.

Fill those shorts.

[segeln]

to pop some bubbles: 3320ish on huobi is the breakout point and would prove the breakout of bearish trend started last year - and thats quite a way to go

To this and similar thinking I would say: The large traders are not following these technical patterns, they are creating them.

This thread was started as Wall Observer - previously there were large single orders which formed "walls" in the depth chart. But they have always been erected by the market manipulators, because they are the only ones with that many coins (then BTC10-BTC20k, now even BTC2k is considered a wall).

From my experience I can tell that wall building can fake selling pressure, and force the price down by 15% followed by buyback. At least it did in May, 2013.

If I had 35,000 bitcoins, I could manipulate the market all I wanted, and make money doing so. Hint: it is only 0.3% of world's bitcoins and there are several people who have it, and who most probably operate in the markets.

Please do not consider that Bitcoin market is more free market than any market in the "free market" countries. They are all ruthlessly manipulated to achieve various aims, and the way for you to make a small annual gain in the number of your bitcoins (which actually increases your % of world's bitcoins, because of the low inflation) is to hold, sell high, and buy back low, and not fall on the trap that the "technicals" can forecast anything, because they are fabricated. And be content what you get, and not short.

+1

[TERA]

to pop some bubbles: 3320ish on huobi is the breakout point and would prove the breakout of bearish trend started last year - and thats quite a way to go

To this and similar thinking I would say: The large traders are not following these technical patterns, they are creating them.

This thread was started as Wall Observer - previously there were large single orders which formed "walls" in the depth chart. But they have always been erected by the market manipulators, because they are the only ones with that many coins (then BTC10-BTC20k, now even BTC2k is considered a wall).

From my experience I can tell that wall building can fake selling pressure, and force the price down by 15% followed by buyback. At least it did in May, 2013.

If I had 35,000 bitcoins, I could manipulate the market all I wanted, and make money doing so. Hint: it is only 0.3% of world's bitcoins and there are several people who have it, and who most probably operate in the markets.

Please do not consider that Bitcoin market is more free market than any market in the "free market" countries. They are all ruthlessly manipulated to achieve various aims, and the way for you to make a small annual gain in the number of your bitcoins (which actually increases your % of world's bitcoins, because of the low inflation) is to hold, sell high, and buy back low, and not fall on the trap that the "technicals" can forecast anything, because they are fabricated. And be content what you get, and not short.

+1

This works until the day when bitcoin finally fails or stops achieving new highs.

[JayJuanGee]

Should I wire an additional 4.6 grand?

What do you think??

Sure. Do it. All in. Now.

I'm sure it takes a couple of days, no? 

No one really seems to know, but it looks fairly promising that we may be going up for a little while, rather than down.. but I've been saying that since $610-ish.

[windjc]

Folks, this could be the end of this rally. Right here, just below $500.

Maybe not. But possible.

[ejinte]

Where is Fonzie now? 

[windjc]

Where is Fonzie now? 

He's long. But he'll be shorting again soon.

[ChartBuddy]

Explanation

[podyx]

Folks, this could be the end of this rally. Right here, just below $500.

Maybe not. But possible.

How far do you think we would go down if so?

A couple $430 coins would be nice for my all in

[windjc]

This is a rally completely fueled by margin. Bitfinex has added 3 million in margin in the last few hours. A few more shorts have squeezed. I am acquiring bitcoin for a .005% rate as I plan to short with basically free money in the next few hours/days.

I missed this rally because I couldn't trust it. Still don't trust it.

But the point is, this rally will DIE without fresh fiat. Once everyone has bought back, margined themselves, etc. etc. - where does the price go then?  Is everyone just going to stare at each other? Meanwhile new coins will continue to arrive. Will the fresh investors?

[iourzzz]

to pop some bubbles: 3320ish on huobi is the breakout point and would prove the breakout of bearish trend started last year - and thats quite a way to go

To this and similar thinking I would say: The large traders are not following these technical patterns, they are creating them.

This thread was started as Wall Observer - previously there were large single orders which formed "walls" in the depth chart. But they have always been erected by the market manipulators, because they are the only ones with that many coins (then BTC10-BTC20k, now even BTC2k is considered a wall).

From my experience I can tell that wall building can fake selling pressure, and force the price down by 15% followed by buyback. At least it did in May, 2013.

If I had 35,000 bitcoins, I could manipulate the market all I wanted, and make money doing so. Hint: it is only 0.3% of world's bitcoins and there are several people who have it, and who most probably operate in the markets.

Please do not consider that Bitcoin market is more free market than any market in the "free market" countries. They are all ruthlessly manipulated to achieve various aims, and the way for you to make a small annual gain in the number of your bitcoins (which actually increases your % of world's bitcoins, because of the low inflation) is to hold, sell high, and buy back low, and not fall on the trap that the "technicals" can forecast anything, because they are fabricated. And be content what you get, and not short.

I so much like your vision. It's really inspiring.

[David M]

Will bitcoin meet the envelope or will the envelope meet bitcoin?

http://bitcoincharts.com/charts/bitstampUSD#rg360zigWeeklyztgCzbgEza1gWMAzm1g13za2gWMAzm2g52

The other 2 lines are 52 week Weighted Avg (1 year) and 13  weeks (3 months) Weighted Avg

[podyx]

This is a rally completely fueled by margin. Bitfinex has added 3 million in margin in the last few hours. A few more shorts have squeezed. I am acquiring bitcoin for a .005% rate as I plan to short with basically free money in the next few hours/days.

I missed this rally because I couldn't trust it. Still don't trust it.

But the point is, this rally will DIE without fresh fiat. Once everyone has bought back, margined themselves, etc. etc. - where does the price go then?  Is everyone just going to stare at each other? Meanwhile new coins will continue to arrive. Will the fresh investors?

So what do you think will happen??

I know you went bear on the bottom so I probably shouldn't trust it but i'm just asking for perspective

[mooncake]

This is a rally completely fueled by margin. Bitfinex has added 3 million in margin in the last few hours. A few more shorts have squeezed. I am acquiring bitcoin for a .005% rate as I plan to short with basically free money in the next few hours/days.

I missed this rally because I couldn't trust it. Still don't trust it.

But the point is, this rally will DIE without fresh fiat. Once everyone has bought back, margined themselves, etc. etc. - where does the price go then?  Is everyone just going to stare at each other? Meanwhile new coins will continue to arrive. Will the fresh investors?

Walk the talk. When?

[windjc]

This is a rally completely fueled by margin. Bitfinex has added 3 million in margin in the last few hours. A few more shorts have squeezed. I am acquiring bitcoin for a .005% rate as I plan to short with basically free money in the next few hours/days.

I missed this rally because I couldn't trust it. Still don't trust it.

But the point is, this rally will DIE without fresh fiat. Once everyone has bought back, margined themselves, etc. etc. - where does the price go then?  Is everyone just going to stare at each other? Meanwhile new coins will continue to arrive. Will the fresh investors?

So what do you think will happen??

I know you went bear on the bottom so I probably shouldn't trust it but i'm just asking for perspective

Well, I think there isn't enough money to keep the bitcoin prices at their current level. So unless a lot of new money comes in, we can't get but so far. Meanwhile, what do you think is more likely - good news from China or bad news from China? The clamp down there is going to be an on-going process.

Everyone is excited right now, just like they were at 710 with that huge snapback. Just like they were at 990, with that huge 2nd push rise. Now people have convinced themselves that a downtrend that broke through major support at $380 and came back up with low volume is a permanent reversal.

Sorry, I don't buy it. I short it. Pun intended.

I think we will retest 340 eventually. And then we will either hold and recover or we will see lower.

[TERA]

We all know why there is a rally right now.  It doesn't take a train scientist to figure it out.

[ShroomsKit_Disgrace]

We all know why there is a rally right now.  It doesn't take a train scientist to figure it out.

Enlighten us, TERA, our Prophet!

[windjc]

We all know why there is a rally right now.  It doesn't take a train scientist to figure it out.

Really? We all know? Because most of the people posting on this thread seem to think this a healthy rally. Do you even read this thread?