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December 14, 2019, 08:14:09 AM *
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Question: Dec. 14 Closing Price:
<$6,000 - 10 (11%)
$6,000-$6,500 - 5 (5.5%)
$6,500-$7,000 - 10 (11%)
$7,000-$7,500 - 13 (14.3%)
$7,500-$8,000 - 18 (19.8%)
$8,000-$8,500 - 11 (12.1%)
$8,500-$9,000 - 4 (4.4%)
>$9,000 - 20 (22%)
Total Voters: 91

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21458771 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. (137 posts by 31 users deleted.)
magicmexican
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April 17, 2014, 09:58:06 AM

By the way, is this a cup and handle on the 12-6-4h graph?
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April 17, 2014, 09:58:26 AM

Did the dumping start before the anouncement was made public?

Look, at this point these announcements dont matter. Traders are just using them as entry and exit points. I think most people who wanted to pull their funds off exchanges have already done so in China.

However, its the future difficulty of getting money into exchanges which is bearish.

Meanwhile, China traders who remain on exchanges remain as kamakazee as ever.

They matter because, right or wrong, traders do react to them!
dreamspark
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April 17, 2014, 09:58:45 AM

Mid 400's is fine with me.

Didnt they already announce the closure of their accounts by the 18th thus this is expected?
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April 17, 2014, 09:59:18 AM

I'm surprised how slowly the price is falling. Looks like the bad news had been priced in to some degree.

Its because its not that bad or different to anything else...
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April 17, 2014, 10:00:19 AM


Explanation
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April 17, 2014, 10:00:54 AM

Huobi at 496...  stamp at 490. what's the problem? the market was falling before all the announcements..... just a natural correction.
Don't you think its even a little bit suspicious that each of these announcements is preceded by a large dump, right before the news is made public?
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April 17, 2014, 10:02:47 AM

I can only assume that several people on Bitfinex have bots that are buying and selling based on buys and sells on Houbi.

Otherwise, these are just mindless traders.
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April 17, 2014, 10:04:25 AM

Slow drip drip drip to 3000. Either it continues this and rebounds a little around 3010 or selling increases and get a big red candle that plows right through 3000. I kinda think the former.
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April 17, 2014, 10:04:47 AM

Huobi at 496...  stamp at 490. what's the problem? the market was falling before all the announcements..... just a natural correction.
Don't you think its even a little bit suspicious that each of these announcements is preceded by a large dump, right before the news is made public?

And what you / we can do about that?

Remember that if they are not doing it intentionaly, they would be stupid to not take advantage of this insider info.
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April 17, 2014, 10:09:50 AM

Can't do anything about it obviously  Smiley

My point was more that many people are saying this is just a normal correction and the price was going down already regardless of the news, whereas there is also the possibility that some people may get the news before others and lead these corrections
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April 17, 2014, 10:10:06 AM

Huobi at 496...  stamp at 490. what's the problem? the market was falling before all the announcements..... just a natural correction.
Don't you think its even a little bit suspicious that each of these announcements is preceded by a large dump, right before the news is made public?

Actually no not at all. I have been expecting this dump for more than a day. EW analysis often seems to coincide with news, because news affects the market the most at extremes of sentiment.
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April 17, 2014, 10:11:09 AM

Bear market is not back on until (if) 1D crosses down.
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April 17, 2014, 10:13:19 AM

I was wondering, every Chinese exchange gets their bank acocunts closed, but BTC-China does not have that problem at all?  Huh
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April 17, 2014, 10:13:46 AM

putting bid orders on 440 Cool
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April 17, 2014, 10:13:49 AM

 Martingale is viable for pure gambling games, but in trading, where you can specify your odds w/ even more control, it becomes a gloriously sound strategy, actually. Trade reasonably small, 1) It worked? Ok, pocket your gains quickly, but not too quickly, and next time around, Take the same small trade, do NOT take bigger trade (reinvest gains) because then that's REVERSE Martingale - BEST way to lose $$ and precisely why I've been failing in forex, BTC & stocks since 2005. 2) It failed? Ah, then take the loss, & next time, take an even BIGGER trade. This is because, not only you have a bit less chance to fail twice in a row than fail just once, but the odds are even better than 50/50 now that price is further close to oversold/overbought & thus a better place to take your new position from.

 Of course all this implies you're being contrarian. Which means, to focus on buying low, selling high, (Ranging) being safe about things & getting the hell out of your trades soon as you got moderate gains to pocket, instead of trying to ride longer-term trends (Trending).

 See, many small, intelligently placed/managed, compounding gains over time, is better than just 1 big risky trade that tries to ride the trend long-term. Unless you're unleveraged. My advice here is for leveraged BTC/LTC & FX. This is because :

1] You don't know where the price really will go in any but the shortest relative timeframes, it simply gets too hard to account for every factor in the world, the longer you try making projections ;
2] Added to that is the exponentially (? or linear..?) increased risk every hour/day that yet another round of bad rumors/news will unexpectedly come out of nowhere & skew all your projections ;
3] There is so much more money to be made riding as much ups & downs as possible (safely, not all the way for each candle/whatnot - nobody except the biggest insider cheat could predict that accurately and thus it just means you'll get crushing losses sooner or later) than there is to be made just riding allllll the years-long way until new ATH/ATL or near it.

 It's absolutely true that most traders lose money. That's because it's difficult to trade profitably on a consistent basis. So of course most fail. That suits the people in power/behind the curtain, financial freedom on a mass scale would make populations much harder to herd & control/govern. In addition, it benefits greatly whale investors, manipulating institutions, and market-making brokers, that pocket all those losses & spreads from their poor bad traders.

 It's a fight. I'm boxing against my broker. In BFX, I box against other traders' perceptions of price movements & their projections. Is competition bad..?? Isn't it a valuable, fun thing to fight..?? Are all sports, races, games, etc all stupid & useless because 'most players/racers will lose'..??  The entire point is that even though a small few win, ALL had the possibility of a fair chance to win (as long as they do their homework & stack the odds in their own favor) - and THAT is valuable in itself.

 That's why trading is valid. Doesn't mean hodling is bad. It's pretty sound actually. One can easily do both. Doesn't mean all traders have to be degenerate gamblers or that no one ever can have the skill to profitably trade. It's proven wrong.
y3804
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April 17, 2014, 10:14:23 AM

I was wondering, every Chinese exchange gets their bank acocunts closed, but BTC-China does not have that problem at all?  Huh

Wrong. Their deposit channels have gone from 4 options to 1 option. They simply don't like posting about it.

Again, banks ban is already priced in. Most exchanges are developing and investing in ATMs
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April 17, 2014, 10:15:20 AM

I was wondering, every Chinese exchange gets their bank acocunts closed, but BTC-China does not have that problem at all?  Huh

Wrong. Their deposit channels have gone from 4 options to 1 option. They simply don't like posting about it.

I mention this because Bobby Lee keeps saying that it is just business as usual for BTC-China. So you think that they will get away with just creating ATMs? BTW that BS ATM of BTC-China can only be used to buy BTC and not withdraw, how awesome is that?
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April 17, 2014, 10:18:24 AM

Bear market is not back on until (if) 1D crosses down.

 Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes Roll Eyes
TERA
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April 17, 2014, 10:18:55 AM

I was wondering, every Chinese exchange gets their bank acocunts closed, but BTC-China does not have that problem at all?  Huh

Wrong. Their deposit channels have gone from 4 options to 1 option. They simply don't like posting about it.

I mention this because Bobby Leed keeps saying that it is just business as usual for BTC-China
Everytime Bobby Lee says something, it is something extremely bullish, no matter what. Do you notice a pattern?
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April 17, 2014, 10:21:23 AM

Dat BTC-e volatility.  Grin
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