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

[ChrisML]

What kind of fucking bullshit is this

Like honestly.. what on earth does this do? Going down where we were 6 hours ago, right away. What a bunch of shit.

Thank fucking fuck that I got out with my longs 3 days ago, but this is just painfull to watch at the moment. Go through that fucking roof already.

The world does not revolve around you. If u really got out 3 days ago why are you so mad that it came back down?

Like I said above.

I've been trading forex for 5 years. From gold to oil and from oil to goddamn coffee. It's been fun, had good times with it.

The thing now is, BTC is a whole other level. I guess I have just been extremely lucky the passed week and a half, since we were in a rally for some time. I got out before that big drop, which was luck aswell I think.
It just irritates me that I cant understand this whole market. $70 price drops for a long or short position withing a few hours has MAJOR impact. Except for the ones whom have extremely large margin calls.

[Buffer Overflow]

What kind of fucking bullshit is this

Like honestly.. what on earth does this do? Going down where we were 6 hours ago, right away. What a bunch of shit.

Thank fucking fuck that I got out with my longs 3 days ago, but this is just painfull to watch at the moment. Go through that fucking roof already.

as long as you're not getting emotional about it, I'm sure you'll be fine.

just stick to the plan.

This has nothing todo with emotions anymore. I've made some nice bucks over the last 12 days. No problem...

But this market just makes me go fucking nuts. Look at it yourself, honestly. This shit is not normal, Imma stop going forex from now on. Seriously had enough of it. You can get burned so damn fast with this BTC market. Long nor short, you will get burned somehow. Imagine going in for a long position for $1500 and it drops $15, you nearly lose $890 right away. It's insanity

Im done with Plus500 and BTC at this moment. Withdrawn my money and I'll check once in a while what the prices be. Still have my own 12 Bitcoins left. See what it's worth in a month.. or 2.

Sounds like your out of your depth. Perhaps play a different game.

[akujin]

RSI said dump  

[shmadz]

What kind of fucking bullshit is this

Like honestly.. what on earth does this do? Going down where we were 6 hours ago, right away. What a bunch of shit.

Thank fucking fuck that I got out with my longs 3 days ago, but this is just painfull to watch at the moment. Go through that fucking roof already.

as long as you're not getting emotional about it, I'm sure you'll be fine.

just stick to the plan.

This has nothing todo with emotions anymore. I've made some nice bucks over the last 12 days. No problem...

But this market just makes me go fucking nuts. Look at it yourself, honestly. This shit is not normal, Imma stop going forex from now on. Seriously had enough of it. You can get burned so damn fast with this BTC market. Long nor short, you will get burned somehow. Imagine going in for a long position for $1500 and it drops $15, you nearly lose $890 right away. It's insanity

Im done with Plus500 and BTC at this moment. Withdrawn my money and I'll check once in a while what the prices be. Still have my own 12 Bitcoins left. See what it's worth in a month.. or 2.

Maybe it's because my investing background and experience is mostly NFL betting with some world cup soccer thrown in every once in a while, but this is all just betting.

it's much better with bitcoin because you can just cut your losers and ride the winners, but still it's pretty much the same, it's just betting.

I'm glad that bitcoin is the first market I've ever followed, because everything that's happening this past week or so looks perfectly normal to me.


I'd never touch leverage and margin and all that scammy stuff. leave it at wall street where it belongs.

just my opinion.

[Asrael999]

But it still doesn't make sense.


Why do a market order and deal with slippage? When he could just make a wall at 675?

Bitcoin traders are not known as the smartest people around.
Basically most of them have no idea what they are doing. For most it goes like this: omg everyone is selling, i need to sell now! Omg everyone is buying, i need to buy now!

to be fair major financial markets are no different

[sidhujag]

What kind of fucking bullshit is this

Like honestly.. what on earth does this do? Going down where we were 6 hours ago, right away. What a bunch of shit.

Thank fucking fuck that I got out with my longs 3 days ago, but this is just painfull to watch at the moment. Go through that fucking roof already.

The world does not revolve around you. If u really got out 3 days ago why are you so mad that it came back down?

Like I said above.

I've been trading forex for 5 years. From gold to oil and from oil to goddamn coffee. It's been fun, had good times with it.

The thing now is, BTC is a whole other level. I guess I have just been extremely lucky the passed week and a half, since we were in a rally for some time. I got out before that big drop, which was luck aswell I think.
It just irritates me that I cant understand this whole market. $70 price drops for a long or short position withing a few hours has MAJOR impact. Except for the ones whom have extremely large margin calls.

Doesnt seem like your using very many skills you learned in forex.. what does you plan say? whats your risk reward setup and entries? If you ad hoc then your the kid in the middle usually.. If I were you I would take my money and run.. smartest move for you atm

[ChrisML]

What kind of fucking bullshit is this

Like honestly.. what on earth does this do? Going down where we were 6 hours ago, right away. What a bunch of shit.

Thank fucking fuck that I got out with my longs 3 days ago, but this is just painfull to watch at the moment. Go through that fucking roof already.

The world does not revolve around you. If u really got out 3 days ago why are you so mad that it came back down?

Like I said above.

I've been trading forex for 5 years. From gold to oil and from oil to goddamn coffee. It's been fun, had good times with it.

The thing now is, BTC is a whole other level. I guess I have just been extremely lucky the passed week and a half, since we were in a rally for some time. I got out before that big drop, which was luck aswell I think.
It just irritates me that I cant understand this whole market. $70 price drops for a long or short position withing a few hours has MAJOR impact. Except for the ones whom have extremely large margin calls.

Doesnt seem like your using very many skills you learned in forex.. what does you plan say? whats your risk reward setup and entries? If you ad hoc then your the kid in the middle usually.. If I were you I would take my money and run.. smartest move for you atm

Lmao. I got my money(takes 5 days to transfer to my bank account). And I am running from this madness  I just had to throw that out there, it's INSANE!

[sidhujag]

What kind of fucking bullshit is this

Like honestly.. what on earth does this do? Going down where we were 6 hours ago, right away. What a bunch of shit.

Thank fucking fuck that I got out with my longs 3 days ago, but this is just painfull to watch at the moment. Go through that fucking roof already.

The world does not revolve around you. If u really got out 3 days ago why are you so mad that it came back down?

Like I said above.

I've been trading forex for 5 years. From gold to oil and from oil to goddamn coffee. It's been fun, had good times with it.

The thing now is, BTC is a whole other level. I guess I have just been extremely lucky the passed week and a half, since we were in a rally for some time. I got out before that big drop, which was luck aswell I think.
It just irritates me that I cant understand this whole market. $70 price drops for a long or short position withing a few hours has MAJOR impact. Except for the ones whom have extremely large margin calls.

Doesnt seem like your using very many skills you learned in forex.. what does you plan say? whats your risk reward setup and entries? If you ad hoc then your the kid in the middle usually.. If I were you I would take my money and run.. smartest move for you atm

Lmao. I got my money(takes 5 days to transfer to my bank account). And I am running from this madness  I just had to throw that out there, it's INSANE!

Heh dont throw away your private key you might be holding onto a fortune!

[shmadz]

Lmao. I got my money(takes 5 days to transfer to my bank account). And I am running from this madness   I just had to throw that out there, it's INSANE!

I can't argue with that, this is insane,

no more insane than our current monetary policy, but still insane nonetheless.

https://www.youtube.com/watch?v=S8Ppyskw5Vw

[ChartBuddy]

Explanation

[keithers]

And so it happens, we once again fight the beast!
666

This actually seems to be the resistance level that we keep returning to. The next mark is probably around $680-$685

[shmadz]

First of all leverage with bitcoin is a big no no lol.. even 500:1 gbpnzd during london session is better than that

you kiddin'?

As long as you go long like 1:2.5 or so leveraged you are perfectly fine.
It's actually far less gambling that trying to sell to rebuy lower in a bull market lol

ehhh, maybe it's cuz I'm not sophisticated enuf,

but I'll take my cold storage over your leverage all day, every day.

[gizmoh]

We are at lower prices.

I will wait for cheaper price under 550 seems OK.. Its bound to test 600 soonish..Yes shroomy i've seen the future

Still waiting?

That dude is smokin da crack pipe ..and dropping too much acid for his 600 retest  

The future is still ahead, this is just one big whale pushing with borrowed money paying high rates to me ( $1.5m borrowed yesterday) , $21.5 million in longs currently, the fall gonna be epic.. I hereby revise my prediction: 500 in 2 weeks  
If you can't see a double top formation, then you are a greedy delusional bull  

[shmadz]

The future is still ahead, this is just one big whale pushing with borrowed money paying high rates to me ( $1.5m borrowed yesterday) , $21.5 million in longs currently, the fall gonna be epic.. I hereby revise my prediction: 500 in 2 weeks  
If you can't see a double top formation, then you are a greedy delusional bull  

you think we'll break any of these low lines?



btc-e looks close already, but they're always a little low.

[flynn]

[shmadz]

If you can't see a double top formation, then you are a greedy delusional bull  

If you can't see a tyrannosaurus tail formation, then you are not a true wall observer.

[seleme]

This market is mental at times. 

[gizmoh]

We are at lower prices.

I will wait for cheaper price under 550 seems OK.. Its bound to test 600 soonish..Yes shroomy i've seen the future

Still waiting?

That dude is smokin da crack pipe ..and dropping too much acid for his 600 retest  

The future is still ahead, this is just one big whale pushing with borrowed money paying high rates to me ( $1.5m borrowed yesterday) , $21.5 million in longs currently, the fall gonna be epic.. I hereby revise my prediction: 500 in 2 weeks  
If you can't see a double top formation, then you are a greedy delusional bull  

Funny that nobody on leverage thinks like you apparently.
Shorts (which are dirt cheap right now) are at a record low
http://charts-bfxdata.rhcloud.com/bitfinexLiquidityPriceCombinedBTC.php

no reason for a long squeeze in the first place.

No shorts to cover - Check
Longs pretty much maxed out paying high rates - Check
No huge inflow of USD, Bid Sum remaining unchanged on stamp (around $11m ,maxed out to only $13m) - Check
New: Bulls cheering all over: contrarian indicator   - Check

What will happen when market stalls and shorts finally open, this rally is not sustainable so far.

[HairyMaclairy]

BTC and leverage go together like ammonium nitrate and diesel.

[seleme]

We are at lower prices.

I will wait for cheaper price under 550 seems OK.. Its bound to test 600 soonish..Yes shroomy i've seen the future

Still waiting?

That dude is smokin da crack pipe ..and dropping too much acid for his 600 retest  

The future is still ahead, this is just one big whale pushing with borrowed money paying high rates to me ( $1.5m borrowed yesterday) , $21.5 million in longs currently, the fall gonna be epic.. I hereby revise my prediction: 500 in 2 weeks  
If you can't see a double top formation, then you are a greedy delusional bull  

Funny that nobody on leverage thinks like you apparently.
Shorts (which are dirt cheap right now) are at a record low
http://charts-bfxdata.rhcloud.com/bitfinexLiquidityPriceCombinedBTC.php

no reason for a long squeeze in the first place.

I wouldn't count the level of longs as something utterly bullish. It means people already borrowed money to bring us where we are, and then there is always a chance of them getting squeezed.

I'd love if there's no margin trading on Bitcoin. Them margin traders are reason we haven't pushed through 680 yet, they're covering each 5-10$.