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

[magicmexican]

Looking weak, think its going below 3000 today

[billyjoeallen]

Huobi dump 3 days straight same time, why?

I wish we would stop caring.

I wish we would too, but I can't stop caring until everybody else does or until coins are so damn cheap I can afford to buy and sit on them for years.

[edwardspitz]

Looking weak, think its going below 3000 today

When you say it looks weak do you mean the markets response to the dump?

[billyjoeallen]

Huobi dump 3 days straight same time, why?

The Chinese are very organized and methodical.

and smart. don't forget smart. I think there are Chinese sharks eating Chinese suckers are we are all just along for the ride or collateral damage. Something is rotten in China and I don't know what it is and probably won't know until the damage is already done.

Meet the new Gox, same as the old Gox.

[magicmexican]

Yea okay, looks like its 460 minimum, and most likely testing 440 and below

[Tyson95]

Yea okay, looks like its 460 minimum, and most likely testing 440 and below

Doesn't seem to have the same intensity I'm speculating not.

[billyjoeallen]

Yea okay, looks like its 460 minimum, and most likely testing 440 and below

It does look that way, but looks can sometimes be deceiving. Somebody with a lot of money and a lot of coins is fucking with us. And his name is prolly Lee Ho Fook or something like that.

[Guinpen]

If I cut my losses now it will go up again and I will lose more. Fuck it, I'm hodling.

[windjc]

dont wanna jump the gun, but after a stagnant day, some bidding is kicking off this reading, gutsy buying near 480 is paying off. Hopefully wave V takes us to 580-600 in the coming days.

What happened to wave 4?  We are going down again!

[TERA]

Everyone just shut up and trade. Thank the Chinese for all this magnificient volatility and profit making opportunities. It's not like you don't get ample TA indicators to tell to buy and sell when the trend is changing. The candle didn't just go straight down to 700 to 340 or straight up from 340 to 540 or straight down thereafter and then just die at the new level. No. There are ample bounces, indicators, and opportunities. You have hours to realize the 1H MACD is going down and then days to realize the 4H and 1D are going down before most of the damage is gone. But instead of paying attention you sit there in some state of denial complaining about how chinese shouldn't be able to control the trend. You ignore the chart indicators because of your belief, and then complain later and ask why you are losing. "but... but... it's just china fud. the west should control bitcoin". Well that's too bad. You just have to accept reality and roll with the punches.

[windjc]

Everyone just shut up and trade. Thank the Chinese for all this magnificient volatility and profit making opportunities. It's not like you don't get ample TA indicators to tell to buy and sell when the trend is changing. The candle didn't just go straight down to 700 to 340 or straight up from 340 to 540 or straight down thereafter and then just die at the new level. No. There are ample bounces, indicators, and opportunities. You have hours to realize the 1H MACD is going down and then days to realize the 4H and 1D are going down before most of the damage is gone. But instead of paying attention you sit there in some state of denial complaining about how chinese shouldn't be able to control the trend. You ignore the chart indicators because of your belief, and then complain later and ask why you are losing. "but... but... it's just china fud. the west should control bitcoin". Well that's too bad. You just have to accept reality and roll with the punches.

Spoken like a true bear turned bull 36 hours ago and $55 higher.

[strawbs]

Everyone just shut up and trade. Thank the Chinese for all this magnificient volatility and profit making opportunities. It's not like you don't get ample TA indicators to tell to buy and sell when the trend is changing. The candle didn't just go straight down to 700 to 340 or straight up from 340 to 540 or straight down thereafter and then just die at the new level. No. There are ample bounces, indicators, and opportunities. You have hours to realize the 1H MACD is going down and then days to realize the 4H and 1D are going down before most of the damage is gone. But instead of paying attention you sit there in some state of denial complaining about how chinese shouldn't be able to control the trend. You ignore the chart indicators because of your belief, and then complain later and ask why you are losing. "but... but... it's just china fud. the west should control bitcoin". Well that's too bad. You just have to accept reality and roll with the punches.

It's no secret that I don't think TA applies to bitcoin (yet) but +1 anyway 

[Guinpen]

You ignore the chart indicators because of your belief, and then complain later and ask why you are losing.

I ignore the chart indicators, because I still don't know how to read chart indicators. I'm still learning, so I follow this forum for advice, and then follow the forum's advice not to follow any advice I find on this forum.

I have no idea whether I should be shorting right now and buying back lower. Last time I panic sold, I lost 1/8 of my investment.

[windjc]

You ignore the chart indicators because of your belief, and then complain later and ask why you are losing.

I ignore the chart indicators, because I still don't know how to read chart indicators. I'm still learning, so I follow this forum for advice, and then follow the forum's advice not to follow any advice I find on this forum.

I have no idea whether I should be shorting right now and buying back lower. Last time I panic sold, I lost 1/8 of my investment.

No one can "read" the chart indicators correctly all the time because there are too many of them and they more often than not conflict. TERA, who admittedly does not do well unless there is a raging bull cycle, is telling people to do more of what he does. Not sure why.

At any rate, a good understanding of both technicals and fundamentals, a willingness to study the market behavior, and a good instinct is what you should aim for.

My 2cents here. Its not a great place to short. 520 was a great place to short.  This market is selling off on low volume into a lot of resistance. Sure it could do this for the next 2 weeks like it did in March, but thats not for certain. A news articles could crash it as well, but there is no news on the weekends most of the time.

I think its a good time to be out of coins into fiat until the continuation (my most likely scenario) of the bear market is confirmed.

[chessnut]

What happened to wave 4?  We are going down again!

second floor at 460. Im short from 490...

[ShroomsKit]

Everyone just shut up and trade. Thank the Chinese for all this magnificient volatility and profit making opportunities. It's not like you don't get ample TA indicators to tell to buy and sell when the trend is changing. The candle didn't just go straight down to 700 to 340 or straight up from 340 to 540 or straight down thereafter and then just die at the new level. No. There are ample bounces, indicators, and opportunities. You have hours to realize the 1H MACD is going down and then days to realize the 4H and 1D are going down before most of the damage is gone. But instead of paying attention you sit there in some state of denial complaining about how chinese shouldn't be able to control the trend. You ignore the chart indicators because of your belief, and then complain later and ask why you are losing. "but... but... it's just china fud. the west should control bitcoin". Well that's too bad. You just have to accept reality and roll with the punches.

It's no secret that I don't think TA applies to bitcoin (yet) but +1 anyway 

It is. Nobody here is getting rich from TA and certainly not Tera.
1 Chinese article, 1 whale pumping or dumping is all it takes to go in the opposite direction of what your macd or whatever says.
And she knows this but is in complete denial. Always behind the trend, always crying how Bitcoin is going down because she missed the cheap coins again. It's sad.

[rudius]

Everyone just shut up and trade. Thank the Chinese for all this magnificient volatility and profit making opportunities. It's not like you don't get ample TA indicators to tell to buy and sell when the trend is changing. The candle didn't just go straight down to 700 to 340 or straight up from 340 to 540 or straight down thereafter and then just die at the new level. No. There are ample bounces, indicators, and opportunities. You have hours to realize the 1H MACD is going down and then days to realize the 4H and 1D are going down before most of the damage is gone. But instead of paying attention you sit there in some state of denial complaining about how chinese shouldn't be able to control the trend. You ignore the chart indicators because of your belief, and then complain later and ask why you are losing. "but... but... it's just china fud. the west should control bitcoin". Well that's too bad. You just have to accept reality and roll with the punches.

Haha that s so true. It it wasn t for the chinese, BTC would be about 260$ by now. I m guessing that only bears are whinning.

The ironic thing about this story, is that it is the americans who gave the money they don t have to the chinese. They are now complaining that chinese have money  
One thing is sure though, the chinese would not pay for the US debt, so you have the chance to get back a little bit of that money. You just have to follow their lead.

[ShroomsKit]

You ignore the chart indicators because of your belief, and then complain later and ask why you are losing.

I ignore the chart indicators, because I still don't know how to read chart indicators. I'm still learning, so I follow this forum for advice, and then follow the forum's advice not to follow any advice I find on this forum.

I have no idea whether I should be shorting right now and buying back lower. Last time I panic sold, I lost 1/8 of my investment.

Keep in mind most "experienced" traders here also lose money most of the times. They won't tell you that of course because it would mean their TA doesn't work and they will never admit that.
There is a very, very small group of traders that makes good money and i'm pretty sure most don't post here.

You know nothing more or less than someone like Tera. Your feeling of where the market goes next holds just as much weight as all her lines, charts, macd, tarot cards. You just seem less silly.

[TERA]

Everyone just shut up and trade. Thank the Chinese for all this magnificient volatility and profit making opportunities. It's not like you don't get ample TA indicators to tell to buy and sell when the trend is changing. The candle didn't just go straight down to 700 to 340 or straight up from 340 to 540 or straight down thereafter and then just die at the new level. No. There are ample bounces, indicators, and opportunities. You have hours to realize the 1H MACD is going down and then days to realize the 4H and 1D are going down before most of the damage is gone. But instead of paying attention you sit there in some state of denial complaining about how chinese shouldn't be able to control the trend. You ignore the chart indicators because of your belief, and then complain later and ask why you are losing. "but... but... it's just china fud. the west should control bitcoin". Well that's too bad. You just have to accept reality and roll with the punches.

Spoken like a true bear turned bull 36 hours ago and $55 higher.

Reasons why I felt bullish the other day:

1. A 3D MACD cross seemed inevitable
2. There were giant surges in altcoins.
3. It broke the linear downtrend line on bitstamp and the logarithmic downtrend line on huobi.
4. A major support level had been broken only to fall $40
5. It bounced all the way back into the middle of the previous trading zone's range, indicating weakness in the downtrend.
6. De-patterning from the 2011 crash due to #4 and #5
7. There were 3 large daily up candles in a row, which hadn't occured since January
8. All of the Chinese bank shutdowns might have in fact been a hoax

Now I realize that none of these are confirmations that a bull market has begun. However, it does make me much less bearish than earlier when I thought we were mimicking a 2011-like crash and heading to $180.

[ChartBuddy]

Explanation