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

[frienemy]

no, buying before an unexpected pump is a good strategy. thats why I just bought after the unexpected dump Ive been expecting for days at 488.

Yep, and it seems to bounce quite nicely from the projected 480 USD support. And now a slow choo (not yet a choo choo) to get out of the station and shift to second gear!

[blatchcorn]

Sub 400 coins in 24 hours.

Source?

China

Right. You must be doing awesome trading.

hahaha It is rallying again

[jonoiv]

China Bans Brandy ?

http://www.chinadaily.com.cn/business/2014-01/22/content_17249409.htm


"France's second-biggest distiller Remy Martin can no longer count on the Chinese New Year, usually the best time of the year for a sales boost, for a bonanza this Spring Festival because of the government's crackdown on extravagant spending."

Good one, "The campaign to promote morality in China is expected to continue to adversely affect the consumption of ultra-premium products" - because old brandy is every drunkard's booze of choice

It's talking about the government's purchases.

Well no, that not what is says , but whatever. Remy Martiin say it could mean 20% dip on their total annual sales.

[niothor]

China Bans Brandy ?

http://www.chinadaily.com.cn/business/2014-01/22/content_17249409.htm


"France's second-biggest distiller Remy Martin can no longer count on the Chinese New Year, usually the best time of the year for a sales boost, for a bonanza this Spring Festival because of the government's crackdown on extravagant spending."

Good one, "The campaign to promote morality in China is expected to continue to adversely affect the consumption of ultra-premium products" - because old brandy is every drunkard's booze of choice

It's talking about the government's purchases.

Well no, that not what is says , but whatever. Remy Martiin say it could mean 20% dip on their total annual sales.

Assuming those are government purchase , this clears everything.
With that amount of brandy being consumed by those idiots , it's no wonder they ban bitcoin every day .

[chessnut]

Bouncing pretty smartly off my lower extreme target. Stamp had we worried for a second.



wave V could take us to 580 but I would only feel safe after we get back to the 520-530s.

[ShroomsKit]

So this wave of panic is over. Some made good money but most as always lost money. People are buying back in again. Most likely with a loss. We're slowly going up again.
So now we wait till next round of China news? So we can repeat this shit all over again? Same whales with insider knowledge make money, the same sheep lose their money and the same bears will be screaming how we will go down to 250 this time.
Is that what everyone wants? It certainly looks like it.

It just totally amazes me. These waves of panic buying and selling have so very few winners and so many losers yet people keep doing it over and over again. Like they never learn.

[ShroomsKit]

Bouncing pretty smartly off my lower extreme target. Stamp had we worried for a second.



wave V could take us to 580 but I would only feel safe after we get back to the 520-530s.

Why would you feel safe there? Most likely at that point someone will post a message in Chinese which causes everyone to absolutely completely totally panic and sell their coins.

[wachtwoord]

Why would you feel safe there? Most likely at that point someone will post a message in Chinese which causes everyone to absolutely completely totally panic and sell their coins.

If you hold BTC you can always feel safe.

[chessnut]

Why would you feel safe there? Most likely at that point someone will post a message in Chinese which causes everyone to absolutely completely totally panic and sell their coins.

I'd feel safe because I know that if the price goes back to 530 I'll be with the insiders. they will be selling high next time, prolly 580. the sheep are spent for the day. sheep know how to short as well, wouldnt want those ones to make any money would we  

any ways not out of the woods yet.

[lemonte]

China Bans Brandy ?

http://www.chinadaily.com.cn/business/2014-01/22/content_17249409.htm


"France's second-biggest distiller Remy Martin can no longer count on the Chinese New Year, usually the best time of the year for a sales boost, for a bonanza this Spring Festival because of the government's crackdown on extravagant spending."

The best thing that China has ever banned: http://www.dailymail.co.uk/news/article-1376771/Great-Scott-China-bans-time-travel-cinema-TV.html

[rjp55]

Why anyone would buy until the dust settles on China is beyond me. Almost feels like throwing your money away. And no I'm not a greedy bear, I'm not a trader and never sold, just holding and accumulating. But I'm not optimistic about any breakouts until China is done banning, and might be hard to do without them.

[zby]

So this wave of panic is over. Some made good money but most as always lost money. People are buying back in again. Most likely with a loss. We're slowly going up again.
So now we wait till next round of China news? So we can repeat this shit all over again? Same whales with insider knowledge make money, the same sheep lose their money and the same bears will be screaming how we will go down to 250 this time.
Is that what everyone wants? It certainly looks like it.

It just totally amazes me. These waves of panic buying and selling have so very few winners and so many losers yet people keep doing it over and over again. Like they never learn.

The news are tightly correlated with the moves - but there would be corrections even without these announcements. It raised $200 during a few days - it is normal that we get a correction. What would you expect - a linear growth to $1000?

[niothor]

Why would you feel safe there? Most likely at that point someone will post a message in Chinese which causes everyone to absolutely completely totally panic and sell their coins.

If you hold BTC you can always feel safe.

Because no matter what China news 1BTC=1BTC , right?

[niothor]

Why anyone would buy until the dust settles on China is beyond me. Almost feels like throwing your money away. And no I'm not a greedy bear, I'm not a trader and never sold, just holding and accumulating. But I'm not optimistic about any breakouts until China is done banning, and might be hard to do without them.

The dust will never settle there. It like they've built a chinese factory that only produces blog posts and fake news.
Wait for the dust to settle in china and you could wait till your death.

[gizmoh]

So buying back in now, because of an expected pump would be a good strategy?

when 480 holds then its time for choo choo otherwise 440 is possible.

I think its more back to reality and the April 15th deadline is rather happening the 18th, so I guess it might be a gradual decline with limited bouncing from here to lower 400's.

[slapper]

So buying back in now, because of an expected pump would be a good strategy?

Good strategy. I am beginning to think that the China FUD news on a daily basis is actually manufactured in the west and not China. Done actually to

1) Buy some "cheap coins" on the dips (not being sarcastic here)
2) A more violent upswing is caused, when news is debunked, something that wouldn't possibly happen on a normal status-quo/equilibrium Bitcoin day.

If you are a bull, you want more China FUD honestly. It seems to be the biggest cause of momentum of late, nothing else comes close.

[TERA]

If the dust ever settled in Bitcoin, we'd just be buying and holding and we wouldn't be here trading. The dust is never settled.

[rjp55]

How many loop holes can these Chinese exchanges find to keep operating though? Doesn't it seem inevitable that they will be forced to close down once they run out of lives?

[chessnut]

three times rejected from critical support.

[ChartBuddy]

Explanation