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

[ChartBuddy]

Explanation

[T.Stuart]

...is that (the flattening out) in relation to the wedge we are currently in?

Yes, we are a little high in the wedge pattern.

[BBmodBB]

up.soon

Nope... Seems like we'll be stuck for a while. Low volume too. I don't like it.

You don't know dick about btc you fool.
The day before the 'big' pump from 480-now was only 6m volume. I even maid a topic about it 'wow very sad volume) THe day after boom.

ot#^rope chain fool!!!!

[JayJuanGee]

I bought a lot of PPC. Everyone who feels hatred towards me, should dump all their PPC to hurt me.

Since you seem to be a troll, how could we rely upon anything that you say?  For example, you may be providing misinformation.

I had my say. Now it's your turn to do whatever you think is best.

Lol, ignore it is. And I already sold my PPC for BTC when PPC peaked.

At various points over the last 7 month, i have made various fairly small purchases of alt coins through BTC-e.  In total, I bought about 2.5 BTC worth of the 7 alt coins that are listed on BTC e.  I have just waited, and hoped that they would go up, and each one of them has performed much worse than BTC.  Currently, if I were to cash all of them out, I would probably get a little less than 1 BTC.

After witnessing this depreciation,  I was thinking that I would wait for the next boom in BTC prices and then see if the various alts will appreciate along with BTC or appreciate at a higher rate than BTC, at a certain point.  Then I would cash out as a whole at the time that the Alts appreciate higher than BTC.

Given the proliferation of a large number of other alts, I am beginning to have my doubts that the ones listed on BTC e are going to go through any kind of considerable appreciation phase.   Accordingly, fairly frequently, in recent days, I have been thinking that maybe, just maybe it would be better to just cut my losses on these various alts.   On the other hand, I could just HODL all of them, in the rare event that one of them may take off and become the silver to BTC's gold,,,,,, HM?  what a dilemma!!!

[inca]

this "stabilisation" period could be good but it could also mean weak hands maybe sell their stacks caused by fear of low volume

Boredom before we move up again is no bad thing. Once the price moves back up towards 800 we are off to the races. The price was ludicrously oversold with the bear fud rubbish permeating everywhere. Not surprising after doubling that bitcoin will wait and draw breath before launching

[Parazyd]

Your "stabilization" is making the price drop
Is anyone planning to buy?

[edwardspitz]

...is that (the flattening out) in relation to the wedge we are currently in?

Yes, we are a little high in the wedge pattern.

Ok thanks, that is interesting. Normally I would say that sideways action is either accumulation or distribution, but it is always hard to tell who is doing what. Considering how weak the latest rise looked, I thought it was most likely that we had stabilized at a level where mr. whale could distribute his coins at a sustainable price level. But I have also seen quite a bit of accumulation going on and the wall movements are most likely used to shake weak hands. Maybe these different moves can also be attributed to a difference of opinion on whether or not we will repeat previous bubble patterns?!

[JorgeStolfi]

Does anyone understand this note by Huobi's site from a week ago (2014-06-02)?  Google Translate is not very helpful...  Did they they discontinue a certain type of ask/bid?  Or just some type of price query?

https://www.huobi.com/news/index.php?a=show_notice&id=399

Description moratorium on price alone function
Time :2014-06-02 01:12:17 Source: Huobi.com

Dear Huobi.com users:
    
Confirmed market orders have a very small probability of matching the program hit single active trading led to abnormal price fluctuations, in order to solve this problem we have decided to suspend the market price of a single transaction capabilities.

In order not to affect you for the automated trading programs, api submitted on the price of a single method call will still be successful, but the success of market orders submitted will be automatically revoked, but the return of funds accordingly.

We will re-start after the completion of the transaction price of a single final confirmation, the impact of this result is very sorry.

Huobi.com Operations
2014.06.02

[JayJuanGee]

I like this chart a lot.

https://www.tradingview.com/i/5G67X1xt

very nice, hope it will just true and Bitcoin price will be skyrocket.

How many days before a pump do you think?
I think in less then 5 work days .

The June 2014 chart shows about 30 days worth of flat.. so the next projected upward momentum is early to mid July, according to the projection in the chart...

Sounds reasonable, yet we could get the rally sooner or later than the projection...I doubt that bitcoin going to be very precise in its price timeline /performance.

[kodtycoon]

I bought a lot of PPC. Everyone who feels hatred towards me, should dump all their PPC to hurt me.

Since you seem to be a troll, how could we rely upon anything that you say?  For example, you may be providing misinformation.

I had my say. Now it's your turn to do whatever you think is best.

Lol, ignore it is. And I already sold my PPC for BTC when PPC peaked.

At various points over the last 7 month, i have made various fairly small purchases of alt coins through BTC-e.  In total, I bought about 2.5 BTC worth of the 7 alt coins that are listed on BTC e.  I have just waited, and hoped that they would go up, and each one of them has performed much worse than BTC.  Currently, if I were to cash all of them out, I would probably get a little less than 1 BTC.

After witnessing this depreciation,  I was thinking that I would wait for the next boom in BTC prices and then see if the various alts will appreciate along with BTC or appreciate at a higher rate than BTC, at a certain point.  Then I would cash out as a whole at the time that the Alts appreciate higher than BTC.

Given the proliferation of a large number of other alts, I am beginning to have my doubts that the ones listed on BTC e are going to go through any kind of considerable appreciation phase.   Accordingly, fairly frequently, in recent days, I have been thinking that maybe, just maybe it would be better to just cut my losses on these various alts.   On the other hand, I could just HODL all of them, in the rare event that one of them may take off and become the silver to BTC's gold,,,,,, HM?  what a dilemma!!!

the alts traded on btc-e are going nowhere! did you do any research into the coins before purchasing? doing research on alts will usually lead you to the ones with potential! buying random ones in the hope they rise, IMO, is a huge mistake!

if you do research into the alts.. you will see that nem and nxt are going to be the big bois of the alt world.. nem is traded on nxt AE so you can kill 2 birds with one stone..

knowing what event or anticipated event causes a rise in value and knowing before the rise is what makes the most money..

do research into the above mentioned.. and you will IMO earn back the money you lost. find out why the coins have continually fallen in value aswell.. would a VC buy into a company he knows nothing about, just because everyone else is buying it? no, the VC will want to know more than everybody else.

[JorgeStolfi]

Some of you may be interested in this Chinese interview of Huobi's CEO, from a month ago:
https://www.huobi.com/news/index.php?a=show_notice&id=364

[ChartBuddy]

Explanation

[JayJuanGee]

this "stabilisation" period could be good but it could also mean weak hands maybe sell their stacks caused by fear of low volume

There are NOT too many weak hands left - most of them already got out, one or two months ago.  In other words, there may be a few weak hands, but likely NOT too many.

[JayJuanGee]

sorry for all the confusion guys.
i will not be deleting any posts here
this is just the new thread because the old was was just too big.

This post is interesting for a couple of reasons:

1) clarification of Adam's philosophy - NOT intending to delete posts;

and

2) raises concerns that maybe Adam will start a new thread - B/c this one is getting "too big."  What is "too big?"

[jl2012]

Some of you may be interested in this Chinese interview of Huobi's CEO, from a month ago:
https://www.huobi.com/news/index.php?a=show_notice&id=364

I hope you are not literally interpreting his words, with awkward google translation

He's just pretending a little puppy, licking the feet of PBoC, begging for the dictator's mercy

[deadley]

sorry for all the confusion guys.
i will not be deleting any posts here
this is just the new thread because the old was was just too big.

This post is interesting for a couple of reasons:

1) clarification of Adam's philosophy - NOT intending to delete posts;

and

2) raises concerns that maybe Adam will start a new thread - B/c this one is getting "too big."  What is "too big?"

But some people just posting useless thing here, that post must be delete.

[hyphymikey]

sorry for all the confusion guys.
i will not be deleting any posts here
this is just the new thread because the old was was just too big.

This post is interesting for a couple of reasons:

1) clarification of Adam's philosophy - NOT intending to delete posts;

and

2) raises concerns that maybe Adam will start a new thread - B/c this one is getting "too big."  What is "too big?"

This thread was started because the other thread's page numbers were formatted terribly. This thread is already 7 times the size of the old one. I do not think he will be starting a new one, as this threads page numbers at the top are compact. The other thread, most of the time, showed every single page number at the top and bottom of the page, and took up most of the page.

[roslinpl]

Gush I really hope tomorrow volume will go ++ ... as for now it is going down and I know that it is the weekend ... but Friday wasn't much better ...


At least price is quite at same point ... with volum which is going down this is not really bad imo - but we need more excitements!

Cheers!!

[JorgeStolfi]

The last Sunday and Monday (June 1--2) were an important holiday in China, the Dragon Boat festival, when traditional "dragon boat" rowing races are held http://en.wikipedia.org/wiki/Duanwu_Festival

That seems to explain the anomalous trading volume pattern on Huobi and other Chinese sites, with strong trading up to 3-4 am in the night from Sunday to Monday.

[hdbuck]

The last Sunday and Monday (June 1--2) were an important holiday in China, the Dragon Boat festival, when traditional "dragon boat" rowing races are held http://en.wikipedia.org/wiki/Duanwu_Festival

That seems to explain the anomalous trading volume pattern on Huobi and other Chinese sites, with strong trading up to 3-4 am in the night from Sunday to Monday.

arf. your ability to link events to bitcoin trading volumes amazes me. seems so natural. you chineezz-portugueezz?! ^^