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

[edwardspitz]

China is dumping again it seems. What a surprise We have been looking a bit overbought so it was inevitable I guess.

[adamstgBit]

GOGOGOGOGOGO

If the price breaks the resistance, does it mean that it will keep on going up?

FOREVER!

[TERA]

You ask for volume and this is what you get...

[derpinheimer]

Damn it. US hasnt responded yet, but Chinas dumping pretty hard.. (well, about 2.5k)

[_javi_]

Huobi red candle made me ROFL...
chinese!! why dont you go play elsewhere?

[Patel]

someone ping me when this depressing volume is gone.

gonna feel like this guy

http://youtu.be/SKbDJ8E8zyM?t=5s

[adamstgBit]

http://saxobank.23video.com/v.ihtml/player.html?source=share&photo_id=9830513

[shmadz]

Vampire Squids

http://youtu.be/XcGh1Dex4Yo?t=1h1m12s

quite good little show (you might want to skip the first 30 minutes or so of remedial stuff if you're already aware what's going on)

[edwardspitz]

Vampire Squids

http://youtu.be/XcGh1Dex4Yo?t=1h1m12s

quite good little show (you might want to skip the first 30 minutes or so of remedial stuff if you're already aware what's going on)

Thanks. I will check it out tomorrow.

[ChartBuddy]

Explanation

[derpinheimer]

I was gonna say this at 2735 but had to go make me a BLT, but.. I think that was it...

Bid sums lookin too good on Huobi for any more dropping.

[TERA]

I was gonna say this at 2735 but had to go make me a BLT, but.. I think that was it...

Bid sums lookin too good on Huobi for any more dropping.

Huobi is notorious of suddenly waking you up from your low volume trance by violently smashing deep through everything you thought was a support and more and weeks of up candles are erased with a single down candle.

[shmadz]

Vampire Squids

http://youtu.be/XcGh1Dex4Yo?t=1h1m12s

quite good little show (you might want to skip the first 30 minutes or so of remedial stuff if you're already aware what's going on)

Thanks. I will check it out tomorrow.

you're welcome, and you should, it's from 2012 and I can't believe I hadn't seen it before now.

[shmadz]

I was gonna say this at 2735 but had to go make me a BLT, but.. I think that was it...

Bid sums lookin too good on Huobi for any more dropping.

Huobi is notorious of suddenly waking you up from your low volume trance by violently smashing deep through everything you thought was a support and more and weeks of up candles are erased with a single down candle.

Huobi is awesome at that, and they can do it both ways, down, and up.

I'll be sad when (if?) they're gone.

(edit, actually I guess it was btcchina that did the up stuff, so perhaps amend the above statement as a generalization of chinese exchanges.)

(second edit, hmm, why the other exchanges not following? are we finally reaching the bottom? I remember it took a long time before other exchanges stopped reacting to gox.)

[derpinheimer]

I was gonna say this at 2735 but had to go make me a BLT, but.. I think that was it...

Bid sums lookin too good on Huobi for any more dropping.

Huobi is notorious of suddenly waking you up from your low volume trance by violently smashing deep through everything you thought was a support and more and weeks of up candles are erased with a single down candle.

Huobi is awesome at that, and they can do it both ways, down, and up.

I'll be sad when (if?) they're gone.

(edit, actually I guess it was btcchina that did the up stuff, so perhaps amend the above statement as a generalization of chinese exchanges.)

(second edit, hmm, why the other exchanges not following? are we finally reaching the bottom? I remember it took a long time before other exchanges stopped reacting to gox.)

Agree with both of you, Huobi can be very violent and walls there tend to be eaten quicker than they would in other markets.

[TERA]

Also you can't see the whole book so some of the walls that appeared while the price was rising are often not there anymore when it is dropping. It is like all the buyers put all their weight into pumping on an upmove and then they all give up at once.

[shmadz]

I would really love to see some cascading, blood-red waterfalls right now.

It's probably my strongest personal indicator that it is not going to happen.

[JorgeStolfi]

FWIW, there is a note on OKCoin's site, posted May/12 17:12 local time, that reports some bug that hit their site on May/11.  I understood (perhaps) that it was related to leveraged trading, and led them to stop leveraged trading. 

https://www.okcoin.com/t-1008713.html

【紧急通知】OKCoin平台防诈骗指南 1#发表于:2014-05-12 17:12:16  - IP:114.249.*.*
 关于OKCoin 5.11融资融币高利率事件及后续经过处理方案
事件经过：根据平台自律声明，OKCoin在5月10日已暂停融资融币。
OKCoin在关闭融资融币时，对未产生借贷关系的用户隐藏了“融资融币”的入口链接，而借款未到期用户，系统会在到期时自动续借来归还上一笔借款，由于没有新的放款来补充放款深度，导致放款利率不断升高，最终有部分用户由于借款逾期未还，系统以高利率自动续借。
我们的错误：[ ... ]

OKCoin emergency notification platform Fraud Guide # 1 Posted :2014-05-12 17:12:16 - IP:. 114.249 * *.
 About OKCoin 5.11 financing currency financial events and subsequent high interest rates after treatment options

Incident: Depending on the platform self- declaration , OKCoin on May 10 has been suspended finance financial currency.

OKCoin melt when you close the financing currency , lending relationship is not generated for the user to hide the " finance financial money" entry link , and the borrower unexpired user, the system will automatically renew to return on a loan when due , as no new loans to supplement lending depth, resulting in lending rates continue to rise, eventually some users because the borrower overdue , the system automatically renew at high interest rates .

Our mistakes : [... ]

[TERA]

One of the market's biggest traits is changing one you've learned its behavior.

[xalex]

I can't be the only one who had this idea  

http://btc.pizzacat.net/threerabbitswithhatssittingonsantaslapdancingrockettothemoon/threadVSstamp.png