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

[ChartBuddy]

Explanation

[Bitcoin_is_here_to_stay]

What is CCMF?

[Patel]

What is CCMF?

crypto currency moon forecasting

[windjc]

What's up guys, are perma bears getting nervous yet?

Is it time to buy, buy, buy?  

they should be nervous

its impossible to say the trend has reversed until it clearly has, i'm thinking things will become way clearer in about 48hours

I foresee a melt up to 500+ in < 8hours, then volume will start to pick up and we will have our blast off targeting 590-610, baby steps on the long journey to the moon.

I see no reason we won't see this, I haven't been paying attention for a while ( was AFK for a week!  ) , but to me it seems the news has been gr8, appearly china unbanned bitcoin!? is this true? in any case, I'd say < 500$ reflects china pretty much priced out, so ya price has only one way to go now.  

Your comments are interesting Adam. Because if we go back to very beginning of this famous thread, there are many posts where you give advice that a reversal begins by high volume red candles. In fact, you state that low volume read candles are more bearish and less likely to result in a reversal. Yet, here we are, and its been months since we have a really high volume red candle.

[ChartBuddy]

Explanation

[JorgeStolfi]

It is too early to be sure, but it looks like the daily volume at Huobi and OKCoin for the day just starting (Apr/24 CST) will be even less than the previous one (Apr/23 CST) -- which was already among the lowest this year.

[chessnut]

What is CCMF?

crypto currency moon forecasting

well I thought it was Choo choo mother fracker but that is just genius. ^^

[TERA]

[ChartBuddy]

Explanation

[Bitcoin_is_here_to_stay]

What is CCMF?

crypto currency moon forecasting

LOL, thanks, would have never guessed that And even Uncle Google was not helpful.

[windjc]

On Houbi it looks like 43 bots, 22 that are selling and 21 that are buying. As a result the price goes down $1 a day.

[JorgeStolfi]

On Houbi it looks like 43 bots, 22 that are selling and 21 that are buying. As a result the price goes down $1 a day.

Maybe...   

The weird thing is that they appear to be continuously shuffling their orders (e.g. pulling half a dozen small buy entries just below the spread, and then posting one or two slightly larger entries, at a slightly higher price), even when no trade follows.   Why can't they decide once and for all the price they want, and stick to it? 

[ChartBuddy]

Explanation

[JorgeStolfi]

Trying to make sense of the Chinese price and volume:

Since it was the yuan input channels that got strangled, not the output ones, we would expect that the downtrend of the last ~3 months would accelerate, because the balance of yuan in the exchanges shoud decrease at an even higher pace.  Instead, the downtrend has apparently slowed down.

One hypothesis is that they had many clients who would repeatedly put money in, trade trade trade for a short time, then take their money out.   After the deposit channels got strangled, perhaps it was mainly this clientele who reduced their activity -- less often, with less money.  That could explain the reduced volume, and also why the decline in price slowed down instead of accelerating: namely, because those clients were also responsible for part fo the net outflow of yuan from the exchanges.

[windjc]

Trying to make sense of the Chinese price and volume:

Since it was the yuan input channels that got strangled, not the output ones, we would expect that the downtrend of the last ~3 months would accelerate, because the balance of yuan in the exchanges shoud decrease at an even higher pace.  Instead, the downtrend has apparently slowed down.

One hypothesis is that they had many clients who would repeatedly put money in, trade trade trade for a short time, then take their money out.   After the deposit channels got strangled, perhaps it was mainly this clientele who reduced their activity -- less often, with less money.  That could explain the reduced volume, and also why the decline in price slowed down instead of accelerating: namely, because those clients were also responsible for part fo the net outflow of yuan from the exchanges.

I've also been wondering if the declining volume was fiat leaving Houbi. I think its at least part of it.

[JayJuanGee]

What's up guys, are perma bears getting nervous yet?

Is it time to buy, buy, buy?  

they should be nervous

its impossible to say the trend has reversed until it clearly has, i'm thinking things will become way clearer in about 48hours

I foresee a melt up to 500+ in < 8hours, then volume will start to pick up and we will have our blast off targeting 590-610, baby steps on the long journey to the moon.

I see no reason we won't see this, I haven't been paying attention for a while ( was AFK for a week!  ) , but to me it seems the news has been gr8, appearly china unbanned bitcoin!? is this true? in any case, I'd say < 500$ reflects china pretty much priced out, so ya price has only one way to go now.  

Your comments are interesting Adam. Because if we go back to very beginning of this famous thread, there are many posts where you give advice that a reversal begins by high volume red candles. In fact, you state that low volume read candles are more bearish and less likely to result in a reversal. Yet, here we are, and its been months since we have a really high volume red candle.

That is so 2013!!!  NOW it is 2014.  Welcome to the future!

[windjc]

Houbi is like a rusty bucket with a patched hole in the bottom that is a now just a slow leak.

Edit: But on the bright side Bitcoin would make a great stable currency this week. Hooray for that!

[JayJuanGee]

Houbi is like a rusty bucket with a patched hole in the bottom that is a now just a slow leak.

Edit: But on the bright side Bitcoin would make a great stable currency this week. Hooray for that!

I would rather be stable in the $750 to $850 range - even for the next year would be o.k. with me.

[windjc]

Let's play a game:

"Things more exciting than Houbi."

#1. A rusty bucket
#2. Paint drying
#3. Grass growing
#4. Meditation
#5. Nail clipping

Feel free to join in the fun by naming things you think are more exciting than Houbi.

[Dabs]

I like Choo Choo Mother F ... much easier to remember. Crypto Current Moo Wha?