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

[hyphymikey]

Long have increased since we went down lmao

[conspirosphere.tk]

ah, big players, whales and other mythical beings.

well, market does not give a fukk about them.

...until they paint the ticker. What if some big player in accumulation mode is buying directly from pools/OTC, maybe with the 'excuse' that is an ETF/institutional investors who wants just 'clean'/virgin coins. They would use an exchange price as reference so the accumulator would have a big incentive to sell some on the exchanges while buying more OTC to buy as low as possible.

[fonsie]

Gotta love the smell of panic in the morning.

Capitulation?  No.  Dip..?  Yep.

'The end'?  Oh please, get a grip!

Buying - looking nice and cheap to me.  Accumulation is the game, play it.  The big money is.

Fair enough. This is the best level to accumulate at, though? I could see it as a good long term play. But Huobi is bear flagging as we speak, and we are simply pausing on a major support, not even bouncing after a first wave down. I'd think we're at least going to the next support level.... 520-530. But very possibly 400s.

I have no crystal ball - but this drop to the 555 level led to the same sentiment very recently and we did drift back up to the 590s.

I think price support at under 550 will be huge.  You could argue this is 'what we need' but I think a massive capitulation will not happen because we are too close to the end of summer and too many (off-market) big players don't want it 'too low'.

ah, big players, whales and other mythical beings.

well, market does not give a fukk about them.

The coin volume has been incredibly low for months - and if miners sell direct to hedge funds, which makes sense, then we are watching the tip of the iceberg.  The waves look big, but most of the coins are not in the market and much of the trade is off market.

Go figure - this is the Wall Observer Thread, but whatever happened to 10,000 BTC walls..?

The money is not in the market, thus small moves can have disproportionate effects.

Real moves will bring it back, but it's not happening right now and has not been for some time.

Finally, he gets it too.

How to buy BTC:

1) Dump coins on exchange
2) Shroomskit starts crying and dumps his coins, so do his baby friends
3) Go to miner
4) Buy BTC according to ticker price

BUT:
https://www.youtube.com/watch?v=Xz-UvQYAmbg

[niktitan132]

ah, big players, whales and other mythical beings.

well, market does not give a fukk about them.

...until they paint the ticker. What if some big player in accumulation mode is buying directly from pools/OTC, maybe with the 'excuse' that is an ETF/institutional investors who wants just 'clean'/virgin coins. They would use an exchange price as reference so the accumulator would have a big incentive to sell some on the exchanges while buying more OTC to buy as low as possible.

Good thinking and i thought the same,too.  

[kurious]

Gotta love the smell of panic in the morning.

Capitulation?  No.  Dip..?  Yep.

'The end'?  Oh please, get a grip!

Buying - looking nice and cheap to me.  Accumulation is the game, play it.  The big money is.

Fair enough. This is the best level to accumulate at, though? I could see it as a good long term play. But Huobi is bear flagging as we speak, and we are simply pausing on a major support, not even bouncing after a first wave down. I'd think we're at least going to the next support level.... 520-530. But very possibly 400s.

I have no crystal ball - but this drop to the 555 level led to the same sentiment very recently and we did drift back up to the 590s.

I think price support at under 550 will be huge.  You could argue this is 'what we need' but I think a massive capitulation will not happen because we are too close to the end of summer and too many (off-market) big players don't want it 'too low'.

ah, big players, whales and other mythical beings.

well, market does not give a fukk about them.

The coin volume has been incredibly low for months - and if miners sell direct to hedge funds, which makes sense, then we are watching the tip of the iceberg.  The waves look big, but most of the coins are not in the market and much of the trade is off market.

Go figure - this is the Wall Observer Thread, but whatever happened to 10,000 BTC walls..?

The money is not in the market, thus small moves can have disproportionate effects.

Real moves will bring it back, but it's not happening right now and has not been for some time.

as far as I am concerned, miners sell direct to bitstamp. I dont know where did those "hedge funds" come from, nor do I care.

volume is low because there are a lot of bag holders, and no buying support.

I won't disagree with that if you're looking at the exchange market.

But what happened when the Feds sold the tranches of coins..?  Over subscribed massively.

Large miners are selling off market, and large buyers are buying, don't doubt that.  I am not screaming about 'whales' and 'manipulators' - just being nostalgic for when the exchanges were the entire market, which is no longer the case.

[fonzie]

I just wrote a PM to ShroomsKit asking some questions about the current situation, however the reply came from falllling??

[tarmi]

ah, big players, whales and other mythical beings.

well, market does not give a fukk about them.

...until they paint the ticker. What if some big player in accumulation mode is buying directly from pools/OTC, maybe with the 'excuse' that is an ETF/institutional investors who wants just 'clean'/virgin coins. They would use an exchange price as reference so the accumulator would have a big incentive to sell some on the exchanges while buying more OTC to buy as low as possible.

occam's razor says no.

[hyphymikey]

Come on bears! Why leave all those coins stacked up to 600 if we are only going down from here? Go ahead and dump those too you pussies. Weak attempt at panic, weak attempt at long squeeze. Do the right thing and be a weak hand and give us all your cheap coins. I mean you obviously don't need them if we are only going down from here.

Wake me up when we are under 500, this is just some dumb money bear having a temper tantrum!

[mooncake]

ah, big players, whales and other mythical beings.

well, market does not give a fukk about them.

...until they paint the ticker. What if some big player in accumulation mode is buying directly from pools/OTC, maybe with the 'excuse' that is an ETF/institutional investors who wants just 'clean'/virgin coins. They would use an exchange price as reference so the accumulator would have a big incentive to sell some on the exchanges while buying more OTC to buy as low as possible.

+1 This is what I have been saying too.

[hyphymikey]

ah, big players, whales and other mythical beings.

well, market does not give a fukk about them.

...until they paint the ticker. What if some big player in accumulation mode is buying directly from pools/OTC, maybe with the 'excuse' that is an ETF/institutional investors who wants just 'clean'/virgin coins. They would use an exchange price as reference so the accumulator would have a big incentive to sell some on the exchanges while buying more OTC to buy as low as possible.

+1 This is what I have been saying too.

I've thought about this theory for quite a while now. The only thing I can't figure out is how many coins they are buying from miners. The most they can buy from a large mining group that doesn't pay out its individual pool members is under 800 coins a day. So why dump so much to only get 800 coins for such a small discount?

[kurious]

ah, big players, whales and other mythical beings.

well, market does not give a fukk about them.

...until they paint the ticker. What if some big player in accumulation mode is buying directly from pools/OTC, maybe with the 'excuse' that is an ETF/institutional investors who wants just 'clean'/virgin coins. They would use an exchange price as reference so the accumulator would have a big incentive to sell some on the exchanges while buying more OTC to buy as low as possible.

+1 This is what I have been saying too.

Exactly - thus: price manipulation.  It is in their interest and with such low volume and lack of volume buyers 'on-market' it is too easy.

[edwardspitz]

I think 555 support will hold and bears will need to dump it all if they want to take out support on Stamp. I just woke up and bought at 555.55, so I'm pretty chuffed

Lets see how chuffed you are on e we break 540.

I tried e back in the day and it was pretty awesome. I am however currently not on e. There is no need for it... According to Jesse from Kraken trading BTC is about as addictive as crack.

   

It don't think we will break 540, but we will see... There is a bullish divergence in the RSI and this could be an sign that we are recovering. It is a bit too early to say for sure though. I'm hoping we will recover from to current level and then head back up to $585 (at least ).

What time frame for the RSI divergence? If you look at the hourly before the last drop, we were forming bullish divergences then too. All it did was bring the RSI above oversold and then BOOM, selling. Divergences can be very deceiving during strong trends, and on longer time frames, they can take some time to play out.

Yes I was looking at the hourly from the drop and until now. I agree that it is too early to take this divergence seriously. I would however buy at this level regardless of indicators because there has been good support here in the past.

[fonzie]

I just went full bull retard. I bought 10 BTC worth of LTC! Let´s see how that works out, lol.

[JayJuanGee]

2014 is the year of bitcoin!    Remember that?

I've got to hand it to the community, you guys did put on a good PR campaign. I'm glad I sold the last of my position a few days ago. If this is the year of bitcoin, I don't want to be part of it anymore  

Bye, Bye!!!!!!!!!

[JayJuanGee]

And for my last post, even bitcoin itself is telling me to go fuck myself (on the 15 minute chart).

O.k.  Have a good life!!!!!!  BYE now...

[mooncake]

ah, big players, whales and other mythical beings.

well, market does not give a fukk about them.

...until they paint the ticker. What if some big player in accumulation mode is buying directly from pools/OTC, maybe with the 'excuse' that is an ETF/institutional investors who wants just 'clean'/virgin coins. They would use an exchange price as reference so the accumulator would have a big incentive to sell some on the exchanges while buying more OTC to buy as low as possible.

+1 This is what I have been saying too.

I've thought about this theory for quite a while now. The only thing I can't figure out is how many coins they are buying from miners. The most they can buy from a large mining group that doesn't pay out its individual pool members is under 800 coins a day. So why dump so much to only get 800 coins for such a small discount?

Don't forget the payment processing companies Coinbase and BitPay. Despite Bitcoin being an open and transparent system, we have no idea how many coins transfer hands unfortunately.

[JayJuanGee]

I just sold whatever i had left. It's clear, Bitcoin is dead.
It failed. This year was make or brake. It broke. People lost interest. Everyone is getting out.

You have to be delusional to think the price will go up suddenly again.
Face it, this is the 5th or 6th year already. This is the time where it was supposed to happen and it simply failed.

People aren't gonna be suddenly interested again in 2 months again.
It's over. There is one way this will go and it isn't up.

You can't be serious

Very.

Good bye.... doggie bird!!!!!!

[fonzie]

Bitfinex leverage will not be decreased as much as announced 4 weeks earlier:

Hello,
In our ongoing effort to deliver the very best in crytocurrency trading, Bitfinex is pleased to announce several changes and enhancements to our margin system that will pave the way for better risk management, product-based margin requirements, and future trading products. We have also decided to streamline some of the associated margin features, updating and harmonizing margin terminology

1.We have decided to eliminate the “Choose your leverage” feature, i.e., 1:1, 2:1 & 2.5:1. Instead of this, we are implementing a “per-pair” leverage allowance. This will allow us to tailor the exposure based on the assets volatility. Virtually all users maximize this value, and since it is self-selected anyway, we have chosen to simplify our product by eliminating it.
2.We are also changing the way that we calculate “Tradeable Balance”. Currently, we do not consider the nature of a traders collateral when trading swaps, but that has lead to a loophole that allows a trader to effectively achieve 3.5:1 leverage by using BTC as collateral for a long BTC swap (most common example). While we are not particularly concerned about the effective leverage per se (see #3 below), we do, nonetheless want to harmonize risk management by considering any other collateral besides the one indicated by the pair (USD in the case of BTCUSD) as part of the allowing leverage for that position.
3.While we understand that #2 may impact some traders used to the “extra” leverage, we are counteracting its effects by increasing initial allowable leverage to 3.33:1. We are making this change in the context of making the following changes the margin terminology and parameters.
1.We will be changing any mention of “Leverage” to “Initial Margin” and representing it as a percentage instead of a ratio, which means that leverage of 2.5:1 would be represented as 40%. The new leverage of 3.33:1 will be shown as an Initial Margin of 30%.
2.Maintenance Margin will be increased slightly to 15% and will be fixed to be always be half of the Initial Margin for any giving swaps product.
3.These changes will allow us to easily adjust the margin parameters for a given swap pair to reflect marketplace realities as well as give us the ability to introduce future products that, for example, may be substantially less volatile, requiring less margin to trade. For the time being, 30%/15% margin parameters will be the same for all swap products.
The net effect of trader behavior and existing positions will be negligible and we look forward to delivering on the possibilities and new opportunities created by these changes. These changes will go into effect on Monday, August 18, 2014 at 00:00 UTC.

Thank you for choosing Bitfinex. We take the trust you place in us seriously, and are always striving to provide the fairest, and most cutting-edge platform in order to enable our customers trading needs.

Regards,
The Bitfinex Team
https://www.bitfinex.com/

[Argwai96]

Wow, I was just looking at Bitfinex swap data against price. It's amazing how most people go long at the top and short at the bottom. Simply amazing. Must be a lot of traders in pain right now (and maybe at all times)....

[niktitan132]

Wow, I was just looking at Bitfinex swap data against price. It's amazing how most people go long at the top and short at the bottom. Simply amazing. Must be a lot of traders in pain right now (and maybe at all times)....

Yes,it's amazing.