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Question: How far will this leg take us?
$110K - 8 (8.8%)
$120K - 15 (16.5%)
$130K - 13 (14.3%)
$140K - 9 (9.9%)
$150K - 15 (16.5%)
$160K - 1 (1.1%)
$170K+ - 30 (33%)
Total Voters: 91

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26800230 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 1 users with 9 merit deleted.)
chromosoma
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May 11, 2014, 04:54:19 PM

ANd what happens on monday?=)
latoxine
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May 11, 2014, 05:00:10 PM

Apparently bitcoin price falling down !  Cheesy ( nobody will tell me I'm wrong right now )

Without joke, aren't chinese specific day time affecting the market usually ? 
conspirosphere.tk
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Bitcoin is antisemitic


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May 11, 2014, 05:00:23 PM

I wish I could have a diversified portfolio of religions to make absolutely sure I wasn't going to hell.

religion does not matter: all of us will be respawned again and again in this hell to combat ever crazier monsters created by us forever.
life is an insane FPS videogame.
ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ


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May 11, 2014, 05:00:51 PM


Explanation
windjc
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May 11, 2014, 05:03:24 PM

Anyone want to ask me if I am still holding my 1200 BTC shorts now?

Chessnut? Are you online?
windjc
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May 11, 2014, 05:05:24 PM

Guys - fiat is leaving the Chinese exchanges.

That is why the market is selling off.
latoxine
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May 11, 2014, 05:07:38 PM

Guys - fiat is leaving the Chinese exchanges.

That is why the market is selling off.


wasn't it suppose to have be done before may the 10th ?
PoolMinor
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May 11, 2014, 05:07:47 PM

I thought we were headed to the moon, not the basement. I knew 2 days ago it was more hype before the tanking, good thing I finally learned something real from this thread.   Roll Eyes
oda.krell
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May 11, 2014, 05:11:12 PM

Anyone want to ask me if I am still holding my 1200 BTC shorts now?

Chessnut? Are you online?


hehehe, good call, but don't get too cheeky :)

real question to me is now: will we break 420 (which provided some minor support recently) on this leg down or not. daily lower BB sits at ~413, that's as low as I can see it go in the next days, in all likelihood.
mah87
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-Bitcoin & Ripple-


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May 11, 2014, 05:11:48 PM

I thought we were headed to the moon, not the basement. I knew 2 days ago it was more hype before the tanking, good thing I finally learned something real from this thread.   Roll Eyes

Next target is Ripple Network explosion. This is the ONLY way for bitcoin to go the next level.
chromosoma
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May 11, 2014, 05:17:03 PM

is it me, or there is much more sold BTC then bought in last few days?
windjc
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May 11, 2014, 05:17:23 PM

Guys - fiat is leaving the Chinese exchanges.

That is why the market is selling off.


wasn't it suppose to have be done before may the 10th ?

Think about it for a second. If you held leveraged trades on Houbi and you were told you had 2 days to close them out before there were no more leveraged trades, what would you do? You would close them out. Since its a bear market, there were many more shorts - so shorts closed and it spurred a small rally.

Meanwhile if you were a HFT trader and new that you wanted to retire from the exchange and bitcoin trading now that HFT will be charged fees, would you sell your positions while the market was rallying? Hell no. You want the best price. So you let the market go up and hope it continues so you can get a better price. But once the market started selling off, you BETTER sell now and get out.

That is what we are seeing.
Bitcoin_is_here_to_stay
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May 11, 2014, 05:18:49 PM



The dearth of sellers is palpable.

Ehem? Certainly does not seem this way to me Wink
hdbuck
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May 11, 2014, 05:20:29 PM

is it me, or there is much more sold BTC then bought in last few days?

yea hidden funds are loading up "cheep" shares.. Grin
gizmoh
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May 11, 2014, 05:24:12 PM

Anyone want to ask me if I am still holding my 1200 BTC shorts now?

Chessnut? Are you online?


Chessnut should say: I predicted that retracement and shorted at 455 already  Grin
N12
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May 11, 2014, 05:25:44 PM

kurious
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May 11, 2014, 05:28:43 PM

Hey Windjc, how's your 1200btc short doing? Do you still have it open?

Most of it. Yes.

I have learned in the past, that the worst thing you can do it overreact when the market moves against you.

It ebbs and flows.

Certainly I am not happy about the announcement from the exchanges that caused all the shorts to close on Houbi, but I think it smart to see how this all plays out.

Sometime soon, the exchanges have to come clean about what is going on. And, whatever it is that is going on, there is no way that the chinese market is bullish on fresh fiat.  All we are seeing there right now are the same coins being traded back and forth and the only money buying is money of the sidelines.

So, until I see a break of trends on high volume with confirmation, I won't be making any sudden panic trades.


I'm with Windjc here, OK - I am not shorting 1200 BTC, but I am relaxed with a high fiat ratio - I can't see a case for real CCMF that makes me feel I will miss any train just now.

Sure, I want to see rockets and choo choos, but I still have stepped bids at below where we are.   

My overall position (inc cold storage) will be happy with a leap up, but my trading stash is balanced for a move either way and I think that is entirely reasonable right now.

We shall see - I am watching and waiting... and still a little bit bored Wink

Windjc is following my trades as a contrarian. I told him to buy at 430. If you follow him you might have to buy when the price gets a lot higher this week.  Tongue

I guess the irrepressible chessnut will still claim he was right...

KeyserSoze
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May 11, 2014, 05:28:50 PM

I wish I could have a diversified portfolio of religions to make absolutely sure I wasn't going to hell.

Sorry for taking your joke literally but I can't resist posting a reply.

Some of us feel absolutely sure we are not going to hell.  It is a "free gift" if you will.  All religions except one teach a way to earn it by good works, deeds etc. But this is futile and an endless journey of never quite being "good enough."  But one religion says there is no possible way to earn it because we can't in ourselves and therefore need to ask for help, which requires humility.  God says if people "will humble themselves and pray and seek my face and turn from their wicked ways, I will hear from heaven and will forgive their sins."  

Gee, let me guess -- you are a True Scotsman? God apparently said a lot of stuff which superstitious folk are free to follow or not follow as it suits her lifestyle, which of course renders it all the more spurious.

In the same fictional account, God/Jesus also apparently said:
"It is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of God."
...and other plainly anti-wealth propaganda.

However you have been trying to accumulate wealth through Bitcoin, and tempting others to do so even if they have to go into debt. In other words you've been defying your god and leading others to do the same.

If you were interested, you could easily find the opposite sorts of commandments in your book of lies; that accumulating wealth is righteous. Perhaps you are an adherent of prosperity theology, which would be doubly fucked up.
en.wikipedia.org/wiki/Prosperity_theology

You fail to apply rationality to this duality. Your ancient yarn is simply a Rorschach -- you see in it what you need (or what others have programmed you to need) to soothe the anxiety you have concerning our apparently meaningless and possibly trivial existence, then claim your delusional interpretation is of ONE truth when in reality it holds no more truth than The Hobbit.

Beyond the pursuit of resources, "my religion is right and yours is wrong" is the leading cause of war and hate in the world. The world needs religion no longer. It's embarrassing an adult in this day and age falls prey to such irrational dogma. There is no such thing as sin. If there's anyone broken in some way it is those who find solace in propagating this arrogant and sadistic sense of morality.
Bitcoin_is_here_to_stay
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May 11, 2014, 05:29:23 PM

is it me, or there is much more sold BTC then bought in last few days?

Hope you kidding?
windjc
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May 11, 2014, 05:29:46 PM

Anyone want to ask me if I am still holding my 1200 BTC shorts now?

Chessnut? Are you online?


hehehe, good call, but don't get too cheeky Smiley

real question to me is now: will we break 420 (which provided some minor support recently) on this leg down or not. daily lower BB sits at ~413, that's as low as I can see it go in the next days, in all likelihood.

Thank you. I will never get credit from any of the bulltards.

I will get cheeky with some of them - looking at your Chessnut. Once again your EW wave was INVALIDATED. Yet again, you will have to redraw it.


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