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

[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?

[TERA]

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!

4/15

[lemonte]

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

[jonoiv]

[windjc]

My question is what good news has come out of China?

That they haven't completely closed down operations? Is that the good news?

I mean, how easy is it for the normal Chinese investor, much less mom or pop, to get money into a bitcoin exchange in China? Not easy.

Right now these markets are like 98% day traders just following each other around in circles. There is no fresh fiat coming in anywhere (and by "no" I mean no substantial bull market fiat).

[windjc]

Yep. Headed straight for 3200 and the trendline. Wonder whats going to happen then?

[TERA]

My question is what good news has come out of China?

That they haven't completely closed down operations? Is that the good news?

I mean, how easy is it for the normal Chinese investor, much less mom or pop, to get money into a bitcoin exchange in China? Not easy.

Right now these markets are like 98% day traders just following each other around in circles. There is no fresh fiat coming in anywhere (and by "no" I mean no substantial bull market fiat).

I wouldn't be suprised if Huobi's bank account was closed and nobody noticed because everything there is fake anyway.

[chessnut]

My question is what good news has come out of China?

That they haven't completely closed down operations? Is that the good news?

I mean, how easy is it for the normal Chinese investor, much less mom or pop, to get money into a bitcoin exchange in China? Not easy.

Right now these markets are like 98% day traders just following each other around in circles. There is no fresh fiat coming in anywhere (and by "no" I mean no substantial bull market fiat).

evidence please. prove there is no fresh fiat. order books are growing every day.

[jonoiv]

Yep. Headed straight for 3200 and the trendline. Wonder whats going to happen then?

The BTC gods will decide i guess.

EDIT:  the TA would suggest back down to 2200. 

[windjc]

Sorry windjc

But you going bear was a pretty strong buy signal
You were one of my favourite posters before but now you need to realize your losses and move the fuck on

My losses? I've made over 40k in the last 10 days. No losing trades. Im fully fiat right now, ready to move back in. If we go to 600 then I might incur some losses.

[octaft]

Sorry windjc

But you going bear was a pretty strong buy signal
You were one of my favourite posters before but now you need to realize your losses and move the fuck on

My losses? I've made over 40k in the last 10 days. No losing trades. Im fully fiat right now, ready to move back in. If we go to 600 then I might incur some losses.

You were one of his favorite posters until you disagreed with him.

[windjc]

This is such a weak recovery.

I set my first short at 478 and it hasn't even hit that one yet. I think I may pull the ones above 510, because it doesn't even seem like remotely possible that this rally gets above that. Unless there is some unexpected volume coming in that I don't know about.

I agree with TERA that there just is not enough money on the order books to keep this market afloat at these levels.

I was really hoping I could short all the way up to 525. I hope we can get at least one more leg up. At least a push to 500.

Come on men. Lets get out those train and moon pics! Now is the time.

... bring it on losers, I want to hear those bears squeal.

If we break any meaningful trendline and have continuation on high volume then I will gladly become a bull and route for 5k in 2014

But who is going to have the balls to go all in long at $525?  Tell us now.

[dreamspark]

Sorry windjc

But you going bear was a pretty strong buy signal
You were one of my favourite posters before but now you need to realize your losses and move the fuck on

My losses? I've made over 40k in the last 10 days. No losing trades. Im fully fiat right now, ready to move back in. If we go to 600 then I might incur some losses.

You were one of his favorite posters until you disagreed with him.

Isn't that how it works, story to fit the motive etc 

[windjc]

My question is what good news has come out of China?

That they haven't completely closed down operations? Is that the good news?

I mean, how easy is it for the normal Chinese investor, much less mom or pop, to get money into a bitcoin exchange in China? Not easy.

Right now these markets are like 98% day traders just following each other around in circles. There is no fresh fiat coming in anywhere (and by "no" I mean no substantial bull market fiat).

I wouldn't be suprised if Huobi's bank account was closed and nobody noticed because everything there is fake anyway.

I've had that thought more than once. They don't have an incentive to be honest about their volume. They only make money on deposits. So do anything to try and attract deposits.

[TERA]

It's very difficult to remain rational when the price is moving significantly. Those who can do this will be the most profitable traders.

[Dr. LY]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

[cee-euros]

nmc made people rich just now.