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

[shmadz]

https://bitcoinwisdom.com/markets/cryptsy/dogebtc

epic

Ho Lee Crap

so glad I got out of doge once they decided to make it never-ending.

[ChartBuddy]

Explanation

[y3804]

Too much optimism. This is a bad sign

No retracement?

[byronbb]

I don't see a fundamental basis for the technical rally. Cumulative good news in the West and a lack of bad news in China do not appear to be an adequate explanation. This was mostly just seller exhaustion which is not the same thing as a sustained increase in demand. What has happened to make BTC appear more valuable?

What needs to happen for me to feel comfortable that a prolonged bull market is underway is for some new application or applications to be deployed that offer some new benefit. With all of the potential, I'm actually surprised we haven't seen more code development translate into usable applications. What I would most like to see are more and better title tracking tools in the block chain.

On the political side, the East/West divide is growing over Ukraine, the pipeline deal between China and Russia, and currency wars. This is starting to look like Cold War II and if the Eastern powers see Bitcoin as a primarily Western phenomenon, then an eventual banning of BTC-e and Chinese exchanges will be likely. Ironically, Bitcoin would be a powerful tool to break the iron grip of Western Banksters over the world economy, but up until now I see no indications that the Eastern Powers recognize it as such.

I still have my trade account close to 100% fiat and I'm painfully aware of the possibility that I'm missing the train. My consolation is that the vast majority of my holdings are in cold storage. I'm still an ultrabull, but obviously not a permabull anymore because there remains substantial risk that we are not out of the woods yet. China needs to become not just less relevant but functionally irrelevant if a technical or political solution to PBoC hostility is not found. Bulls should find comfort that I and those like me still have lots of fiat on the exchanges to provide support if the rally falters.

Using the exchanges as the actual pricing mechanism is probably insufficient. Lage buyers were probably going OTC and shorting like hell at bitfinex. Ie keep the exchange price low, while buying from private sellers.

[derpinheimer]

Too much optimism. This is a bad sign

No retracement?

Oh --- off. You were crying down yesterday; now its up and back down to where it was and you're saying "BAD SIGN " as if you arent totally biased.

This is it. I'm shorting. The peak follows a logarithmic trend with the other peaks

GET REK'T

He shorted May 20 <$500

[seleme]

Fucking finally made some money after weeks of not trading/bad trades.

2500$ on LTC today 

[y3804]

Too much optimism. This is a bad sign

No retracement?

Oh --- off. You were crying down yesterday; now its up and back down to where it was and you're saying "BAD SIGN " as if you arent totally biased.

No. Here:

This is it. I'm shorting. The peak follows a logarithmic trend with the other peaks

Trying to catch a peak seems just as dangerous as trying to catch a falling knife, especially when the price has risen 1% in the last minute

Nevermind

[akujin]

What happened to doge? 592? Is that a glitch?

[y3804]

What happened to doge? 592? Is that a glitch?

Yes, glitch

[Stankia]

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

[y3804]

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

It's a good exit strategy. Not sure how long this rally will last. He's not trying to catch the peak

[SheHadMANHands]

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

It's a good exit strategy. Not sure how long this rally will last. He's not trying to catch the peak

Really?  We could easily pop to $650/$700 and it would be nothing compared to Nov/Dec.  I wouldn't consider this some huge rally (from the bottom).  We were at double this 5 months ago.

[y3804]

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

It's a good exit strategy. Not sure how long this rally will last. He's not trying to catch the peak

Really?  We could easily pop to $650/$700 and it would be nothing compared to Nov/Dec.  I wouldn't consider this some huge rally (from the bottom).  We were at double this 5 months ago.

For some reason Huobi is struggling to keep up with Stamp. What do I know, maybe you're right. Time will tell

[byronbb]

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

It's a good exit strategy. Not sure how long this rally will last. He's not trying to catch the peak

lol......so a good exit strategy is to quell a rally ready to run?

[plasticAiredale]

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

It's a good exit strategy. Not sure how long this rally will last. He's not trying to catch the peak

He doesn't want to sell at $550, he wants to buy all the coins other people put below his wall.

[y3804]

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

It's a good exit strategy. Not sure how long this rally will last. He's not trying to catch the peak

He doesn't want to sell at $550, he wants to buy all the coins other people put below his wall.

I'm not even watching the chart. Did he actually sell his 1400 coins? Or he just put the wall up, let me check

edit; I'm feeling dumb now. yes of course

[nanobrain]

Where is TERA amid this froth?  

[seleme]

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

It's a good exit strategy. Not sure how long this rally will last. He's not trying to catch the peak

lol......so a good exit strategy is to quell a rally ready to run?

Mind boggling, isn't it? 

[derpinheimer]

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

It's a good exit strategy. Not sure how long this rally will last. He's not trying to catch the peak

He doesn't want to sell at $550, he wants to buy all the coins other people put below his wall.

I'm not even watching the chart. Did he actually sell his 1400 coins? Or he just put the wall up, let me check

He sold ~250, the remaining ~1400 was pulled.

I do agree its a good exit strategy, but if his intent was to exit safely I dont see why they would have pulled the wall at $530.

[lay785]

so the guy with the wall is trying to keep the price artificially low so he can buy peoples coins?