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

[ChartBuddy]

Explanation

[1715337182]

1715337182

[akujin]

Go go go stamp! 

[ShroomsKit]

Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.

[fonzie]

Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.

 

How is life in a dark cave treatin you ShroomsKit?

And more dumping. What the hell! Still no idea why.

Dear @walsoraj, could you please tell @ShroomsKit to un-ignore me so that I can tell him to un-ignore you so that he can see your link to that article about Chinese IPOs?  Skanth...

[JayJuanGee]

And more dumping. What the hell! Still no idea why.

Dear @walsoraj, could you please tell @ShroomsKit to un-ignore me so that I can tell him to un-ignore you so that he can see your link to that article about Chinese IPOs?  Skanth...

NOT that I want to help out any trolls; yet I would tell the bird dog, but he is ignoring me, too... At least he announced that he was ignoring me, about 3 months ago. hehehe... and I have been saddened, ever since.   

[mmitech]

Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.

it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.

[fonzie]

Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.

it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.

Yeah sure, as if you would not have already already been ignored by shroomsy after your bearish coming out of the closet in the last 2 weeks.

Maybe Adam can try and talk to shroomsy, maybe he is the last remaining open channel? ( No offense Adam  )

[ShroomsKit]

Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.

it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.

How was that not China?? I was watching it in real time how hours ago China started dumping 1000's of coins which obviously resulted in Stamp following.
Don't you see the charts and the activity on the Chinese exchanges.

[JorgeStolfi]

Another possible explanation for this drop is that the late-May rally was due to some Chinese traders getting wind of great news soon to come from OKCoin, and those news finally came out this Saturday (see their note posted earlier), and those people found them disappointing.

One possible argument for this theory is that the rally was in the form of a few isolated buying spurts (each individual learning about impending great news?) and this drop seems to be driven by a few isolated selling spurts (each of them realizing that it was a flop?).

[mmitech]

Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.

it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.

How was that not China?? I was watching it in real time how hours ago China started dumping 1000's of coins which obviously resulted in Stamp following.
Don't you see the charts and the activity on the Chinese exchanges.

I stopped watching china long ago, I still believe that (some Chinese) beside faking their products they do fake their trading volume as well... I believe they can fake anything for some dollars.

[ShroomsKit]

Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.

it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.

How was that not China?? I was watching it in real time how hours ago China started dumping 1000's of coins which obviously resulted in Stamp following.
Don't you see the charts and the activity on the Chinese exchanges.

I stopped watching china long ago, I still believe that (some Chinese) beside faking their products they do fake their trading volume as well... I believe they can fake anything for some dollars.

So It wasn't China because you stopped paying attention to them. Err...ok.

[Raystonn]

https://www.jpmorgan.com/‎      https://Ghash.io - Join us - High reward - Lots of fun
"To have failed in everything, always, out of a love of discouragement." aka Bitcoin 2014  - Emil Cioran

So, what project are you managing at JP Morgan?  New JP Morgan coin?  The conflict of interest here is amusing.

[Miz4r]

Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.

There's nothing that caused it, China pumps a little and China dumps a little. It's just going $20 up and down and has happened a few times already in the past week, just the regular whales and sharks trying to make some money during this consolidation period. Only a couple more days of this crap before we will see some real movement.

[wachtwoord]

The market is just really thinly traded right now. I's een continuously bounding up and down a little close to 600. Perhaps Friday is the catalyst to start moving from that range.

[elebit]

it is not china... if you didn't notice, there is someone who has been dumping for days, he dumps in ~ 500BTC batches , then he waits for support to build up around $590-600 and then repeat... it has been going for a couple of weeks now, just watch when the soonest we come close to $600 it happens again, I think someone is cashing few thousands of BTC and doesn't want to trigger a panic selling and/or doesn't want to effect the price that much.

If that were true, several k dumped on Stamp and several times more on Huobi during the last week, we should have gone much lower. The order books are very shallow everywhere so there is simply no resistance neither up nor down.

I think it's just some regular trading going on, slowly dumping at the upper limits or the (percieved) market and buying at the bottom. If I had a few k at the exchanges I would do that too. It's just slower than usual since the market can't absorb just about anything at all right now.

[ShroomsKit]

Surprising to see that nobody here is bothered by the fact that without explanation China suddenly started dumping like crazy. I'm still very curious what caused this.
It's taken us down 20 dollars now.

There's nothing that caused it, China pumps a little and China dumps a little. It's just going $20 up and down and has happened a few times already in the past week, just the regular whales and sharks trying to make some money during this consolidation period. Only a couple more days of this crap before we will see some real movement.

I understand what you mean but i still don't see this as a normal event. Anyway, i hope you are right about the 2nd part. Considering how important everyone thinks this auction is i expect to see some big movements. Up i hope but then again any news means down it seems lately.

[elebit]

Dear @walsoraj, could you please tell @ShroomsKit to un-ignore me so that I can tell him to un-ignore you so that he can see your link to that article about Chinese IPOs?

What about them?

And why do you think they would cause a downward pressure? Shouldn't it attract speculators as well?

China is so strange right now. Fiat transfers are supposed to be banned several times over now, so how would they even get yuan out of them if not via foreign accounts?

EDIT: (to clarify) ... Which should drive Stamp lower than Huobi, not the other way around which is what we've seen during last week.

[ChartBuddy]

Explanation

[Davyd05]

All I know is buying more back in the 330's looks so good right now

[spooderman]

Gd morning ppl.

Was glad to wake up to this.



was un-glad to wake up to sub 600 again It's gonna be 2012 all over again.