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

[TERA]

I think this market has completely lost its mind.

Also has anyone got a link to the 10th being a day something is supposed to be happening? Only thing I can find is about a Bitcoin conference or something.

10th is supposed to be the deadline for all banks to make a statement, which most already have.  It's also when Dan the EW trader predicted something would happen with EW.

[dreamspark]

Hm so realistically the 10th means nothing kind of like most the dealines before it.
Ah well let the saga of 2014 continue.

[dreamspark]

Chessnut, do you have any data showing the leverage stats in China? If not how can you presume that the end of leveraged trading and force closing all leverage positions would result in a price rise?

[N12]

Chessnut, do you have any data showing the leverage stats in China? If not how can you presume that the end of leveraged trading and force closing all leverage positions would result in a price rise?

I think you know why that is.

[dreamspark]

Chessnut, do you have any data showing the leverage stats in China? If not how can you presume that the end of leveraged trading and force closing all leverage positions would result in a price rise?

I think you know why that is.

Something blind hope something something 

[windjc]

Looks like all shorts on Huobi will have to be closed, sooner or later.

May the back stabbing begin!

Why would only the shorts have to be closed?

In the statement, Leverage trading will cease. shorts will be closed on the 10th if not before.

"Close currency financing financial services implementing rules 1,5 month beginning at 0:00 on the 10th , the fire will stop currency net new financing financing currency after currency to pay off all of the facility or stopping leveraged finance transactions."

Yep. The shorts will close and then they take their money off the market as they can no longer make a profit with it. Less money on the exchanges = lower price eventually. In fact, that big green candle we just saw may have been 90% shorts.

Meanwhile leveraged longs will have to SELL. And then they will take their money off the exchanges too. = lower prices eventually.

[dreamspark]

Either way though the fact that we really haven't dropped on this news is leading me to question why we should presume that China has so many coins and there are 1000's upon 1000's of investors in China hanging on until the last second.

[ChartBuddy]

Explanation

[TERA]

Either way though the fact that we really haven't dropped on this news is leading me to question why we should presume that China has so many coins and there are 1000's upon 1000's of investors in China hanging on until the last second.

The reason we are not dropping right now is because we dropped way too fast on the caixin news already - we got kind of out of trend and have to make up for it.

[magicmexican]

Not going to lie, when i turned my PC on this morning and saw the reddit's title "CN exchanges release join statement" (before looking at the price), i was expecting to see 350 or under :-D

[ChartBuddy]

Explanation

[dreamspark]

Not going to lie, when i turned my PC on this morning and saw the reddit's title "CN exchanges release join statement" (before looking at the price), i was expecting to see 350 or under :-D

Does that fill you with confidence or thanks that you get another chance to sell before the inevitable crash. ? 

[edwardspitz]

I think this market has completely lost its mind.

Also has anyone got a link to the 10th being a day something is supposed to be happening? Only thing I can find is about a Bitcoin conference or something.

10th is supposed to be the deadline for all banks to make a statement, which most already have.  It's also when Dan the EW trader predicted something would happen with EW.

I think maybe he follows the bitcoin news news just a little bit 

[akujin]

boring... feels like someone's keeping the price up... or maybe delaying the inevitable 

[magicmexican]

Not going to lie, when i turned my PC on this morning and saw the reddit's title "CN exchanges release join statement" (before looking at the price), i was expecting to see 350 or under :-D

Does that fill you with confidence or thanks that you get another chance to sell before the inevitable crash. ? 

I have no clue, the whole thing is a mess, and i am too busy with my main work, so just watching from the sidelines now and checking the price once per day or two.

[dreamspark]

Not going to lie, when i turned my PC on this morning and saw the reddit's title "CN exchanges release join statement" (before looking at the price), i was expecting to see 350 or under :-D

Does that fill you with confidence or thanks that you get another chance to sell before the inevitable crash. ? 

I have no clue, the whole thing is a mess, and i am too busy with my main work, so just watching from the sidelines now and checking the price once per day or two.

Stronger than I am then, its impossible when working from an office to not have a tab open. I agree its a mess and its not going to end anytime soon by the looks either.

[Boxman90]

While everyone is bored, what about the transaction fee fraud Bitstamp is doing?

(I assume most of you trade there)

https://bitcointalk.org/index.php?topic=597647.0

[dreamspark]

While everyone is bored, what about the transaction fee fraud Bitstamp is doing?

(I assume most of you trade there)

https://bitcointalk.org/index.php?topic=597647.0

Wow thats pretty bad, have you attempted to contact Bitstamp themselves about this?

[ShroomsKit]

While everyone is bored, what about the transaction fee fraud Bitstamp is doing?

(I assume most of you trade there)

https://bitcointalk.org/index.php?topic=597647.0

Wow, that's really bad if true. That are big amounts they steal.

[latoxine]

hello,

1) just to say it's a plaisure to read you since few days, and see that you talk 99% about the initial topic. ( and not social,  etc...Maybe the ''bet story'' wasn't necessary ;-)  )  

2) Why china rule the BTC world, and not the US ? Is it like this from the begining ?!