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

[TERA]

My pattern matching skills tell me we're more or less in the same place as we were last July...

I do not recall a weekly ema cross last year.

[1715543903]

1715543903

[1715543903]

1715543903

[1715543903]

1715543903

[1715543903]

1715543903

[freebit13]

My pattern matching skills tell me we're more or less in the same place as we were last July...

I do not recall a weekly ema cross last year.

Sorry,... I'm looking at the 12h log graph on bitcoinwisdom... patterns just seem similar, no serious TA here.

[dreamspark]

I think it was something about a Chinese bank account closing or the 'apr 15 deadline'. I don't really care about the news though. I just know when we are close enough to the downtrend line, we are bound to go down for some reason or another - the market is just looking for any excuse to jolt down.

You have a shorting target then?

[derpinheimer]

Me thinks China gonna break up a bit, maybe 2750 or so?

All hail derp:ta pro!!!

I'm on a roll lately

[TERA]

3 days MACD (bitstamp) is GREEN for the first time since december... new rally is here  

Wrong. It appeared green briefly on Apr 24 also.

[TERA]

I think it was something about a Chinese bank account closing or the 'apr 15 deadline'. I don't really care about the news though. I just know when we are close enough to the downtrend line, we are bound to go down for some reason or another - the market is just looking for any excuse to jolt down.

You have a shorting target then?

I don't have any guess about the bottom that I can be confident about. I am closing out all my trading positions on the next big move, whether it is up (Trend reversal), or down (good price) and quitting trading.

[isov]

Why Stamp shows on Bitcoinwisdom to me that there was 2000+btc volume just recently? But recent trades don't show any trades for volume like that for that time. Anyone else seeing this?
Edit: This volume is only visible in 1h chart and 15min chart.

[p0peji]

I think it was something about a Chinese bank account closing or the 'apr 15 deadline'. I don't really care about the news though. I just know when we are close enough to the downtrend line, we are bound to go down for some reason or another - the market is just looking for any excuse to jolt down.

You have a shorting target then?

I don't have any guess about the bottom that I can be confident about. I am closing out all my trading positions on the next big move, whether it is up (Trend reversal), or down (good price) and quitting trading.

Agreed, bitcoin is a terrible asset to trade atm, fees are too high and volatility is way too low.

[TERA]

IT's like the only thing I DONT want the market to do is to go flat like it has been for the past 2 weeks and that's what it had to do.

[dreamspark]

I think it was something about a Chinese bank account closing or the 'apr 15 deadline'. I don't really care about the news though. I just know when we are close enough to the downtrend line, we are bound to go down for some reason or another - the market is just looking for any excuse to jolt down.

You have a shorting target then?

I don't have any guess about the bottom that I can be confident about. I am closing out all my trading positions on the next big move, whether it is up (Trend reversal), or down (good price) and quitting trading.

Fair enough, I'm just waiting for the real trend reversal and then Im max leverage and getting on with life for a few months.

[mmitech]

not according to any TA, but according to the universe signs that I don't master but some other experts do, maybe it is the last time we will see sub 400's.

we still have a couple of weeks or so, then we will take off.

[TERA]

I think it was something about a Chinese bank account closing or the 'apr 15 deadline'. I don't really care about the news though. I just know when we are close enough to the downtrend line, we are bound to go down for some reason or another - the market is just looking for any excuse to jolt down.

You have a shorting target then?

I don't have any guess about the bottom that I can be confident about. I am closing out all my trading positions on the next big move, whether it is up (Trend reversal), or down (good price) and quitting trading.

Fair enough, I'm just waiting for the real trend reversal and then Im max leverage and getting on with life for a few months.

You have to keep in mind that even after the reversal there are going to be a lot of sideways periods that go on for months. Are you just going to hold a leveraged position for months and months? That's a lot of swap fees (and a lot of exchange risk). I only like to leverage during the ATH rallies.

[bamsbamx]

Some people dont learn anything about this......

BTC has only grow 10$ and people starts saying: "to da moon!!!" Then a big dump starts and people is crying again...

Always the same

Lets think a bit... While all that chinese bullshit news exists BTC can only get lower and lower...

PD: I do also want it to grow, as I (panic) bought at 530

[RUEHL]

Prohibit the use of a number of banks bitcoin bank account transactions

At 20:09 on May 7th, 2014   China Economic Net  microblogging collection this article     

China Economic Net Beijing May 7 hearing today, Shanghai Pudong Development Bank(9.66, -0.04, -0.41%) , Guangdong Development Bank [microblogging] , Agricultural Bank of China(2.38, -0.01, -0.42%) has issued "on the Prohibition of the Use my Bank account statement for Bitcoin transactions, "the statement have said that from now on, any organization or individual shall be opened in the bank account for bitcoins, currency and other transactions Wright recharge and withdrawals of funds, purchase and Sales recharge codes related transactions and other activities not related to the transfer of funds through its trading opened in the bank account. Once found, the bank is entitled to take account transactions related to the suspension, cancellation related accounts and other measures.

Prohibit the use of a number of banks bitcoin bank account transactions
　　Guangdong Development Bank, "a statement on the prohibition of the use of my bank account for Bitcoin transactions."

Prohibit the use of a number of banks bitcoin bank account transactions
　　Agricultural Bank of China, "a statement on the prohibition of the use of my bank account for Bitcoin transactions."

Prohibit the use of a number of banks bitcoin bank account transactions
　　Shanghai Pudong Development Bank, "a statement on the prohibition of the use of my bank account for Bitcoin transactions."

　　So far, the SPD, GF, ABC announced the ban to become another wave of large banks bitcoin. According to China Economic Net reporter, after China Construction Bank(3.94, 0.00, 0.00%) announced on April 30 at its official website, said the immediate effect may not use the CCB account for bitcoins, Wright currency and other trading funds recharge and withdrawals, purchases and sales of related transactions and other activities recharge codes, account shall be transferred by the CCB funds related transactions.

　　Before that, China Merchants Bank(9.86, -0.01, -0.10%) has announced that will not support Bitcoin transaction-related payments and money transfer services, while China Merchants Bank account transactions bitcoin site has also been crashed off. Notably, Paypal [microblogging] also means stop earlier announcement that provide related services for Bitcoin.

　　According to China Economic Net reporter, the central bank [microblogging] March had issued "on further prevent the risk of bitcoin notice" to restrict banks and third-party payment agency services in Bitcoin transactions. It is said that the central bank had interviewed more than 20 commercial banks and third-party payment agencies with Bitcoin transactions, requiring major commercial banks and payment institutions until May 10 to stop Bitcoin transaction services, cleaning up existing accounts and stop withdrawals function Bitcoin.

[ChartBuddy]

Explanation

[dreamspark]

I think it was something about a Chinese bank account closing or the 'apr 15 deadline'. I don't really care about the news though. I just know when we are close enough to the downtrend line, we are bound to go down for some reason or another - the market is just looking for any excuse to jolt down.

You have a shorting target then?

I don't have any guess about the bottom that I can be confident about. I am closing out all my trading positions on the next big move, whether it is up (Trend reversal), or down (good price) and quitting trading.

Fair enough, I'm just waiting for the real trend reversal and then Im max leverage and getting on with life for a few months.

You have to keep in mind that even after the reversal there are going to be a lot of sideways periods that go on for months. Are you just going to hold a leveraged position for months and months? That's a lot of swap fees (and a lot of exchange risk). I only like to leverage during the ATH rallies.

Im not as sure as you that we will see months of sideway action, you could argue that the last month or so has been sideways.

0.07% is hardly a lot of fees if the price is trending upwards. Cheaper than a normal loan but yes there is the exchange risk. When I say when the trend is reversed I mean definitely, for sure, not we've gone up $30 in a day(you could even call it what you may consider an ATH rally situation).

It all depends how you look at it, I think that this trend is not really reversing until China is actually over and done with either way, I think that once that happens its going to be like a spring that has been compressed for months.

[freebit13]

I think it would help everyone to realize that China will probably never be done, they won't leave the bitcoin space... just like Gox...

[magicmexican]

Its happening! Glorious pumps!

[mah87]

Its happening! Glorious pumps!

lol +3%

Ripple took +20% hahaha NOOB

[TERA]

I think it was something about a Chinese bank account closing or the 'apr 15 deadline'. I don't really care about the news though. I just know when we are close enough to the downtrend line, we are bound to go down for some reason or another - the market is just looking for any excuse to jolt down.

You have a shorting target then?

I don't have any guess about the bottom that I can be confident about. I am closing out all my trading positions on the next big move, whether it is up (Trend reversal), or down (good price) and quitting trading.

Fair enough, I'm just waiting for the real trend reversal and then Im max leverage and getting on with life for a few months.

You have to keep in mind that even after the reversal there are going to be a lot of sideways periods that go on for months. Are you just going to hold a leveraged position for months and months? That's a lot of swap fees (and a lot of exchange risk). I only like to leverage during the ATH rallies.

Im not as sure as you that we will see months of sideway action, you could argue that the last month or so has been sideways.

0.07% is hardly a lot of fees if the price is trending upwards. Cheaper than a normal loan but yes there is the exchange risk. When I say when the trend is reversed I mean definitely, for sure, not we've gone up $30 in a day(you could even call it what you may consider an ATH rally situation).

It all depends how you look at it, I think that this trend is not really reversing until China is actually over and done with either way, I think that once that happens its going to be like a spring that has been compressed for months.

Once prices are trending upwards, the swap fee will probably get much higher. I saw it high as 1.5% in November.