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

[Raystonn]

We have breached 472.50.  If we continue lower, the next major supports are at 454, 400, and 355.50.

If there was supposed to be support at 472 and it didn't materialize, why in the world would you believe other magic numbers will work?

There was some support there.  It was the 7-day low.  That support didn't last very long.
The 454 support was the low around 10 days ago.  But it also won't have a whole lot of support.  It could hold if selling is running out of steam.
Beyond that we're looking at 355.50 as a very strong support.  It's the 5-month low from November.

[windjc]

Classic butthurt bull.

You bought at 486 and made no profit. I sold at 475 bought at 480. Sold at 492 and am banking.

Where is your EW "science" now?  God, no wonder so many people have you on ignore.

EW cannot predict news events.... it can tell when weasles like you are done bleeding though.

why don't you do me a favour, and ignore me too?

I'm laughing at the fact that you actually think that A) this market is controlled by news and B) EW doesn't realize this fact.

EW professionals around the world are laughing at you right now. News IS the catalyst for EW movements a lot of the time, because news is really nothing but condensed SENTIMENT.

Good grief you are dense.

[windjc]

Shaking of the last weak hands.
China FUD is having less and less impact on the market, only 10% decrease.

So far.

[shmadz]

here's a question,

why doesn't this get more play around here?

http://www.cnet.com/news/mt-gox-liquidation-given-go-ahead-by-tokyo-court/

this effectively means that any and all assets of value will be sold to make a pile of money for the lawyers and accountants and all them,

I would see this as cheap bitcoin flooding the market, but I have sometimes been know to see things which are not there.

[Davyd05]

here's a question,

why doesn't this get more play around here?

http://www.cnet.com/news/mt-gox-liquidation-given-go-ahead-by-tokyo-court/

this effectively means that any and all assets of value will be sold to make a pile of money for the lawyers and accountants and all them,

I would see this as cheap bitcoin flooding the market, but I have sometimes been know to see things which are not there.

discussed yesterday, I wrote it off as un likely for those coins to hit the exchanges.

[solex]

We have breached 472.50.  If we continue lower, the next major supports are at 454, 400, and 355.50.

If there was supposed to be support at 472 and it didn't materialize, why in the world would you believe other magic numbers will work?

Indeed. How well did this magic random number work out?

OK, you folks ready?  Recommend shorts close now at 492.

[JayJuanGee]

Classic butthurt bull.

You bought at 486 and made no profit. I sold at 475 bought at 480. Sold at 492 and am banking.

Where is your EW "science" now?  God, no wonder so many people have you on ignore.

EW cannot predict news events.... it can tell when weasles like you are done bleeding though.

why don't you do me a favour, and ignore me too?

I think that Windjc values your opinion, even though, he is in denial.

[keithers]

Talk about market movement...just about 2,800,000 LTC has been sold of on OKCoin in last 2 hours  That is a pretty large percentage of all the LTC even in circulation right now

[chessnut]

I'm laughing at the fact that you actually think that A) this market is controlled by news and B) EW doesn't realize this fact.

EW professionals around the world are laughing at you right now. News IS the catalyst for EW movements a lot of the time, because news is really nothing but condensed SENTIMENT.

Good grief you are dense.

putting words in my mouth.... I understand completely that news is a catalyst. EW does realise this fact. but you are accusing me like a binary noob of holding a crystal ball..... I can see junctures, but I cant see the future. neither can you.

[windjc]

Classic butthurt bull.

You bought at 486 and made no profit. I sold at 475 bought at 480. Sold at 492 and am banking.

Where is your EW "science" now?  God, no wonder so many people have you on ignore.

EW cannot predict news events.... it can tell when weasles like you are done bleeding though.

why don't you do me a favour, and ignore me too?

I think that Windjc values your opinion, even though, he is in denial.

I value peoples opinions that make robust cases. I asked Chessnut for this yesterday because his posts are so 1 dimensional. He and you just responded with insults.

[Walsoraj]

Might be last chance for chinese to cashout if PBOC has its sights on fiat withdrawals this time.

[chessnut]

I value peoples opinions that make robust cases. I asked Chessnut for this yesterday because his posts are so 1 dimensional. He and you just responded with insults.

... you never asked for anythng, you chose to mock me.
I am not one dimensional, I am prepared to change my views. My trades have always got a breakout strategy, thats how I came to be short at 485.

[Davyd05]

nothings crazy is really occurring. its a natural reaction when a chicken cuts its own head off. that's all.

[jl2012]

央行在约谈中强调，提现功能也必须停止。

IMHO, it's really stupid to comment based on google translation.

The correct translation of the last sentence should be: "fiat withdrawal must also be stopped".

Thanks!  But this is bad news anyway, isn't it? What do they mean by "cash withdrawal"?

提现 literally means "withdraw cash", but in this context it means "fiat withdrawal through a bank/payment processor".

[windjc]

nothings crazy is really occurring. its a natural reaction when a chicken cuts its own head off. that's all.

So does anyone know what the "news" actually is? Is it something actually "new?" Is it just rumor?

[keithers]

nothings crazy is really occurring. its a natural reaction when a chicken cuts its own head off. that's all.

So does anyone know what the "news" actually is? Is it something actually "new?" Is it just rumor?

Has to do with Alipay and PBOC I believe...   Bitcoin needs to ban China!

[windjc]

nothings crazy is really occurring. its a natural reaction when a chicken cuts its own head off. that's all.

So does anyone know what the "news" actually is? Is it something actually "new?" Is it just rumor?

Has to do with Alipay and PBOC I believe...   Bitcoin needs to ban China!

Actually, I just read the article. If this is true then all the exchanges in China might have to move offshore. China may have completely cut the head of the snake this time. If so, this could be the real capitulation (the practical elimination of China) we've all been waiting for. I will be looking for confirmation on this news and shorting (double downing) the hell out of the first real bounce.

[JayJuanGee]

Classic butthurt bull.

You bought at 486 and made no profit. I sold at 475 bought at 480. Sold at 492 and am banking.

Where is your EW "science" now?  God, no wonder so many people have you on ignore.

EW cannot predict news events.... it can tell when weasles like you are done bleeding though.

why don't you do me a favour, and ignore me too?

I think that Windjc values your opinion, even though, he is in denial.

I value peoples opinions that make robust cases. I asked Chessnut for this yesterday because his posts are so 1 dimensional. He and you just responded with insults.

Yes.  I believe that I saw your request for more specifics, and it seems to me that You are trying to ask Chessnut to be more specific than is necessary.  You have your theory and methodologies and he has his, and each of you have stated various aspects of your methodologies and thoughts- If there is a difference of opinion about the prediction, then what else needs to be said? 

O.k.  NO problem if you want to say, "I told you so," here or there, but in the end, it really does NOT matter so much.  You can go make your millions of dollars based on your vision, no problem. 

I have learned some concepts about attempting to read the market from both you and from Chessnut, and I take any of this discussion with a grain of salt b/c NO ONE, except for the whales really can consistently make large amounts of money in the short term on trading BTC when there is both whale and news manipulation... Likely that most of the money is going to be made by hedging long, rather than trading 

However, to each his own, and if you consistently make more than the average day trader, congratulations.... .. .and thanks for sharing any tips with the rest of us reading this thread.

 

[JorgeStolfi]

Has to do with Alipay and PBOC I believe...   Bitcoin needs to ban China!

Didin't you hear? China jailed the CEO of Bitcoin, an banned the sale of alcohol to miners.

[Walsoraj]

Has to do with Alipay and PBOC I believe...   Bitcoin needs to ban China!

Didin't you hear? China jailed the CEO of Bitcoin, an banned the sale of alcohol to miners.

Confirmed.