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

[p0peji]

CCMF anyone?  

[darklight]

Kudos to myself for being spot on    Pboc story ain't finished until exchanges are closed or delocalized

Look at that long Red wick on Huobi.. Chinese says Fuck u white boy!

Usually when the wick is that long, expect bad chinese news later on..

We are at the mercy of chinese traders. They get the news firsthand and sets the Trend, some bots that follows CNY movements eats part of the cake.
That is why pricing has been unpredictable for westerners. And I am totally uncomfortable with that. Until Huobi/okcoin gets shut down by PBOC or move out of china, I'm keeping my Fiat out of this gamble.

I believe we've just hit the top.

There was a lot of struggle in that pump

I agree, this current pump has no follow through. Soon it'l retrace back to 500, afterwards  sub 460 to test some support.
This rally will end soon as it cannot be sustained by enough bids (less than $11 million bids) and has been fueled mainly by china and previous sellers who believes 340 as bottom and getting back in. To summarize, bitcoiners have short memory about the situation with pboc and is currently blinded by 'fear' of missing the fantomatic moon train.

Pretty accurate analysis.

How? Yes it was proven right, but the catalyst was more news from China rather than not enough bids. Right but for the wrong reasons

[Tyson95]

Wow this is pretty stupid

[seanneko]

Wake me up when China is out of Bitcoin blood system. Till then I'll keep any dollar I could put my hands on.

I wish China would just say "Bitcoin is illegal and anyone who owns any will be shot in the face". At least then we can forget about their bullshit and get on with business.

[TERA]

Just as I suspected, major news events would occur as soon as I "went bull"...

[ShroomsKit]

The correction has only started. give it a few hours, Ask will start to pile in as they realize that this rally is done.

Is this a fact?

[ShroomsKit_Disgrace]

Wow this is pretty stupid

Bitcoin, the most technologically advanced currency, controlled by the most stupid individuals^tm

[TeeBone]

One peep out of China pimpslaps btc up or down a few hundred. I thought the gold market was manipulated, but this is insanity. Expect heavy dumps when China wakes up in a few hrs.

[darklight]

Just as I suspected, major news events would occur as soon as I "went bull"...

Yeah that was very unlucky timing. Wonder what the US will do when they wake up

[dreamspark]

Wheres the news though ? That article just said the same thing thats been said 100 times?

[darklight]

One peep out of China pimpslaps btc up or down a few hundred. I thought the gold market was manipulated, but this is insanity. Expect heavy dumps when China wakes up in a few hrs.

They are already awake, its 5:30 pm there

[seleme]

Just as I suspected, major news events would occur as soon as I "went bull"...

If it's going to make you feel even worse you were the last reason I needed to cut my shorts at 537 and buy 30 coins at 527

Anyway, Bitcoin can fuck itself as long as it is controlled by China as far as I am concerned.

[gizmoh]

The correction has only started. give it a few hours, Ask will start to pile in as they realize that this rally is done.

Is this a fact?

We are sub 500 , its a fact .

[ShroomsKit]

Unbelievable. Total panic again because of some Chinese letters. Really unbelievable.
I seriously hope each and everyone of those idiots panic selling lose their money.

[TeeBone]

Wake me up when China is out of Bitcoin blood system. Till then I'll keep any dollar I could put my hands on.

I wish China would just say "Bitcoin is illegal and anyone who owns any will be shot in the face". At least then we can forget about their bullshit and get on with business.

Then be prepared for sub 200 coins, price is propped up almost exclusively because of China.

[lemonte]

Just reading the article now and isn't the information about Huobi stopping dealing with the Agricultural Bank of China old news, or am I reading this wrong?

[dnaleor]

fucking chinese news reports ... 

[seleme]

Wake me up when China is out of Bitcoin blood system. Till then I'll keep any dollar I could put my hands on.

I wish China would just say "Bitcoin is illegal and anyone who owns any will be shot in the face". At least then we can forget about their bullshit and get on with business.

Then be prepared for sub 200 coins, price is propped up almost exclusively because of China.

Sub 50 - fine, just to get rid of that cancer.

[billyjoeallen]

In a worst case scenario, we have bears who just got wiped out and can not act to catch the falling knife when they cover their shorts, bulls with no fiat ammo left and the few guys left with any fiat like myself extremely gun shy. It could get ugly. 

I have a small order near the bottom $340 support level and that's it. There's no trading this. We're bugs on a windshield.

[niothor]

It's you guys who only talk about huobi charts who are to be blamed for this.

Lots of websites are ignoring the price from huobi , like bitcoinaverage because they think their volume is fake as f***.

Keep following those two shitty exchanges that have been accused so many times of fake volume and data and this is what you get.

If china is so mad about trading cryptos...
Why do they have 80% of the BTC trading volume and less than 25% of the alts trading volume with a lot of help of westerners trading on bter ?

But keep following china...usually chinese stuff breaks within 6 month