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

[akujin]

 

[JorgeStolfi]

It is ~01:30 am in China.  Price may remain stable for a few hours. Or may not...

[latoxine]

it seems that the market doesn't know where to go...But on kraken it's rising slowly since nearly one hour.

No the copy paste of china since few days anymore in fact...

[hdbuck]

you guys should just relax and enjoy the ride. whether up or down.

[latoxine]

you guys should just relax and enjoy the ride. whether up or down.

Yes but up, down,up,down,up....VOMIT !

[NotLambchop]

...fictional account...anti-wealth propaganda...your book of lies...ancient yarn
...no more truth than The Hobbit.
...

Wait, so The Hobbit...  Way to shatter my worldview

[PoolMinor]

In a fortnight things will be different.

[dreamspark]

Just enjoying the ride on this one.

Is there any news or anything?

Anything actually come of yesterday ?

[windjc]

Just enjoying the ride on this one.

Is there any news or anything?

Anything actually come of yesterday ?

This is simply another retracement. Profit taking before fiat leaving the exchanges.

[windjc]

Some (Chessnut?) (Rpetilia) is deleting a lot of their posts in this thread.

The incredible shrinking bear thread.

[dreamspark]

Some (Chessnut?) (Rpetilia) is deleting a lot of their posts in this thread.

The incredible shrinking bear thread.

Lol cant you see deleted posts on the mirror'd version of this site ?

[windjc]

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.

I actually do not know. It is possible that we will make a higher low and confirm ourselves in a consolidating channel - which will correspond with the consolidating longer term wedge. And then we will have the "come to jesus" breakout sometime later this month.

That's a scary thought for bulls, because to breakout to the upside we need FRESH FIAT.

Meanwhile this strong impulse down is screaming follow through, so we may get a chance to test this consolidation theory very soon.

[Bitcoin_is_here_to_stay]

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.

I actually do not know. It is possible that we will make a higher low and confirm ourselves in a consolidating channel - which will correspond with the consolidating longer term wedge. And then we will have the "come to jesus" breakout sometime later this month.

That's a scary thought for bulls, because to breakout to the upside we need FRESH FIAT.

Meanwhile this strong impulse down is screaming follow through, so we may get a chance to test this consolidation theory very soon.

Bitstamp order book look scary - for the bulls

[ChartBuddy]

Explanation

[T.Stuart]

"My religion is right and yours is wrong" is the leading cause of war and hate in the world.

Nonsense.

[BitAddict]

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.

I'm not sure about that.
Check Bitfinex, 75% are bulls and 25% bears, even we are in a bear market. Chinese exchanges could follow the same pattern, that means a lot of longs probably need to be closed in the near future before they halt margin trade.

That could mean more dumps incoming.

[windjc]

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.

I actually do not know. It is possible that we will make a higher low and confirm ourselves in a consolidating channel - which will correspond with the consolidating longer term wedge. And then we will have the "come to jesus" breakout sometime later this month.

That's a scary thought for bulls, because to breakout to the upside we need FRESH FIAT.

Meanwhile this strong impulse down is screaming follow through, so we may get a chance to test this consolidation theory very soon.

Bitstamp order book look scary - for the bulls

Alot of the "bids" on Stamp and Finex are just for show. As soon as the market goes down 20-25% of them usually disappear.

[Blue]

Non?

Si.

Ooh!

Bretter !! Bretter !! Bretter !! Bretter !! Bretter !! Bretter !!

[windjc]

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.

I'm not sure about that.
Check Bitfinex, 75% are bulls and 25% bears, even we are in a bear market. Chinese exchanges could follow the same pattern, that means a lot of longs probably need to be closed in the near future before they halt margin trade.

That could mean more dumps incoming.

Maybe. But explain to me how Finex's stats can be real?

Longs never go below $14 million even on the most bearish days. How can they pay the interests and never close? Likewise, shorts never go below 7K.

Unless there are REALLY long term loans on each side at low low interest rates, then I can't understand how those stats are real.

[dreamspark]

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.

I'm not sure about that.
Check Bitfinex, 75% are bulls and 25% bears, even we are in a bear market. Chinese exchanges could follow the same pattern, that means a lot of longs probably need to be closed in the near future before they halt margin trade.

That could mean more dumps incoming.

Maybe. But explain to me how Finex's stats can be real?

Longs never go below $14 million even on the most bearish days. How can they pay the interests and never close? Likewise, shorts never go below 7K.

Unless there are REALLY long term loans on each side at low low interest rates, then I can't understand how those stats are real.

One thing I've noticed with lending on fenix is often people take loans and close their positions but never actually give back the borrowed BTC or Fiat and it sits in the unused swaps tab. Its happened to me before as well and you can tell by how often a loan is out for the full period when your a lender.