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

[coins101]

Close to log trendline on Huobi. New China FUD must be prepared as we speak

China is expected to ban Bitcoin again next week, possibly 4.30pm on Tuesday.

[niothor]

Suddenly I feel bearish, because because I feel bullish. Every time this happens, a sudden violent repressed downwards spike occurs. Last time it was Caixin which came out right after I finished buying. They do it just to make a fool of me.

You're one messed up teddy bear , TERA .

I'm not a bear; I'm a chartist, and I try to add a rational level-headed perspective to things.

No , you're just trying to find in those charts of yours a reason to be the bear you are.

[TERA]

Close to log trendline on Huobi. New China FUD must be prepared as we speak

China is expected to ban Bitcoin again next week, possibly 4.30pm on Tuesday.

If we're following a master puppeteer theory, maybe this time they're trying to demoralize us with a false trendline break and lots of traders getting burned badly

[ChartBuddy]

Explanation

[Miz4r]

Suddenly I feel bearish, because because I feel bullish. Every time this happens, a sudden violent repressed downwards spike occurs. Last time it was Caixin which came out right after I finished buying. They do it just to make a fool of me.

You're one messed up teddy bear , TERA .

I'm not a bear; I'm a chartist, and I try to add a rational level-headed perspective to things.

You do seem quite emotionally charged while giving a rational level-headed perspective. I like your charts though, but the emotions are very visible in you.

[dreamspark]

Now , since we're talking about China , has anybody some links with shops , websites in China dealing with bitcoins?
I've asked about this in December and in February and didn't get that much feedback:).

Are there chinese actually holding bitcoins and not just speculating and trading?

I have no idea and you would be better off asking Chinese members of the forum. Its hard to get a translation on announcements let alone try and work out what they're mainly doing with their BTC.

[TERA]

Suddenly I feel bearish, because because I feel bullish. Every time this happens, a sudden violent repressed downwards spike occurs. Last time it was Caixin which came out right after I finished buying. They do it just to make a fool of me.

You're one messed up teddy bear , TERA .

I'm not a bear; I'm a chartist, and I try to add a rational level-headed perspective to things.

You do seem quite emotionally charged while giving a rational level-headed perspective. I like your charts though, but the emotions are very visible in you.

I'ts usually me being upset over a person being irrational or making a false statement.

[niothor]

Now , since we're talking about China , has anybody some links with shops , websites in China dealing with bitcoins?
I've asked about this in December and in February and didn't get that much feedback:).

Are there chinese actually holding bitcoins and not just speculating and trading?

I have no idea and you would be better off asking Chinese members of the forum. Its hard to get a translation on announcements let alone try and work out what they're mainly doing with their BTC.

I asked about a real translation in English in December when the first announce came in and I got nothing
That chinese sub forum is full of people speaking only chinese I guess.

[Miz4r]

Well well well, it would seem that the effect of Chinese events and Chinese trade is in fact proportional to China's volume after all. There have actually been many pieces of bad Chinese news in the past weeks which have failed to result in new lows or sometimes even a reaction at all. Meanwhile the volume of chinese exchanges has dwindled to about 1/3 of what it used to be.  I suppose, barring a complete shutdown of the Chinese exchanges, we will need to see some news on an entirely different subject to continue the downtrend.

That makes sense. Fake or not, Huobi's volume was by far the largest of all the exchanges and most traders/investors will look where the most volume is and make their decisions based on that. So now that their volume is down the Chinese influence on the price went down as well. If the PBOC wants to gain back control of the price they had better find a way to increase the volume on the Chinese exchanges again or they will soon be history.

Why do you think they give a f** about BTC price?

Well I think they care in the sense that they don't want the Bitcoin phenomenon to become too big in China. By keeping the price down they will keep interest and the hype down as well. Anyway they want to control it, because they want to control everything concerning the Chinese people. Also the timing of PBOC announcements seems a bit suspicious to me looking at the charts, it seems too perfectly timed to me but perhaps that's just a coincidence.

[TERA]

I'm only perceived as a bear due to the contrast that appears between me and uberturbobulls like rpetelia.

[Asrael999]

It's Thursday, is this just the Bitcoin Investment Trust on its weekly shopping spree?

[mmitech]

it is pumping time, till the end of the month there will be some epic pumps, and yes quote me on this 

[TERA]

it is pumping time, till the end of the month there will be some epic pumps, and yes quote me on this 

[HerrAndreas]

I noticed hitbtc.com swinging in average price from constantly below to constantly above the most otgher exchanges.
Does anyone on here have ideas why this is happening?

Who is buying there?

(Speculations are welcome   )

[TERA]

I remember when the candles used to be like this:



And now they're like this:

[Krabby]

I remember when the candles used to be like this:



And now they're like this:

Ha!

[edwardspitz]

Some more bullish news for you then TERA 

http://www.coindesk.com/indias-first-fully-open-bitcoin-exchange-launched/

New fiat will be trickling.

Next big thing

In December, the bitcoin community turned to India as its next great hope after Chinese government statements caused the price to drop from its record high of $1,200. India is an emerging economy with a population of over a billion people, nearly half of whom are unbanked or under-served by banks.

Another hype based on nothing..
I'm pretty sure the exchange will claim millions in volume while having 100 satoshi in it's wallet.

The emerging countries , BRICS , myths about adoptions in Africa...

The only real way for bit coin to grow is being used where people have enough money to spend and business eager to accept it.
And that's the good old Europe and North America.

I was sure that Exchange was fake, but maybe it is real since coindesk.com is reporting about it. I concluded that is was most likely fake because:

1) It uses a $20 (Wordpress or Drupal) template from Themeforest (nothing wrong with that per se)
2) It has no API (nothing wrong with that, but it confirms that they have not made an effort to make a top notch trading platform - It could very well just be a Drupal- or Wordpress-site put together in 8-20 hours or so)
3) It has an impressive PDF about AML policy here: https://btcxindia.com/law_regulation but it turns out to mostly copy/paste of another document (search Google)
4) The graph and market data looks a bit odd  I took the screenshot  after they launched so obviously they had not tested it before launch. Not very convinced it is a safe place to trade.
5) The content on the social media profiles looked a bit random and it looks like is more copy/paste work across the profiles.

[oda.krell]

Huh. This is starting to look somewhat decent. Not what I expected, but, nice.

If we make it to 460, I might even buy back in (coming from 550, so don't come shouting "at a loss").

[TERA]

^^ I noticed on the chart there was some point where time travel was performed.

[JorgeStolfi]

This inspired me to make an article about it. Another day, another conspiracy in the Crypto world.
http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/fxbtc-exchange-shuts-down-early-holding-10000-of-customers-funds/

Picking a nit: the Chinese currency is called yuan, the Japanese one is yen.  (Although the words have the same origin, it would be like referring to GBP as "the British peso".)