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

[Wandererfromthenorth]

14th August shorts were 2,766 now they are 7,050 thats an increase of 154.88%

Yup. I think we know this isn't the real deal this time. BUT, those shorting might get squeezed anyways on the volatility... and, if they get squeezed hard enough, what shouldn't have been the rally becomes the rally. So... the plot thickens. Dangerous market right now.

TL;DR - Either the shorts know something that we don't know, or they are absolutely stupid as fuck.

Not stupid, the market clearly wants to go down for now. We'll drop in the next few days. Bottom around 400 or a little bit less. then recovery.

[Newbie1022]

14th August shorts were 2,766 now they are 7,050 thats an increase of 154.88%

Yup. I think we know this isn't the real deal this time. BUT, those shorting might get squeezed anyways on the volatility... and, if they get squeezed hard enough, what shouldn't have been the rally becomes the rally. So... the plot thickens. Dangerous market right now.

TL;DR - Either the shorts know something that we don't know, or they are absolutely stupid as fuck.

Not stupid, the market clearly wants to go down for now. We'll drop in the next few days. Bottom around 400 or a little bit less. then recovery.

This is what I think. I deleveraged a little bit during the last mini-dip, though. I was flying a little too close to the sun. Thank God I am not playing with any sizeable amounts of money... I'd be living in a cardboard box by now. Bahahaha. Learning a lot, though. This has been an interesting if arduous experience.

[shmadz]

What's the record for longest chain of IOUs traded?

Oooh, good question!

I'm gonna vote USD

This should be a poll question  

[Wandererfromthenorth]

14th August shorts were 2,766 now they are 7,050 thats an increase of 154.88%

Yup. I think we know this isn't the real deal this time. BUT, those shorting might get squeezed anyways on the volatility... and, if they get squeezed hard enough, what shouldn't have been the rally becomes the rally. So... the plot thickens. Dangerous market right now.

TL;DR - Either the shorts know something that we don't know, or they are absolutely stupid as fuck.

Not stupid, the market clearly wants to go down for now. We'll drop in the next few days. Bottom around 400 or a little bit less. then recovery.

This is what I think. I delivered a little bit during the last mini-dip, though. I was flying a little too close to the sun. Thank God I am not playing with any sizeable amounts of money... I'd be living in a cardboard box by now. Bahahaha. Learning a lot, though. This has been an interesting if arduous experience.

That's the most important thing: learning
If you make money just because you're lucky (gonna lose sooner or later if that's the reason you are winning) but don't learn anything what's the point?

You have all the time in the world to become good at trading now for when BTC will go nuts eventually eheh

Be careful with leverage though, always put tight stop losses so you're safe!

[edwardspitz]

I agree it is going to get wild at some point in the near future. Looking at the graph it doesn't look pretty but the support of the triangle we are in has been very well defended in spite of many dumps. Also at least some whales have already accumulated all the coins they could wish for at a very low price (especially BTC-e/Finex  ). I have been keeping an eye on the CCI indicator that Amiorex recommended. It is telling me that the move up we have seen since the 18th will continue. I don't have that long experience with this indicator, but the signal is quite clear even on shorter time frames (45 min.).

All these things are bullish... but then we have the rotten sentiment, the ugly graph, the huge ask walls, and the fact that the dominant trend is bearish.

I don't know which way it will go, but I have closed a short that I started at 490, and bought a little BTC near support. I don't know which way it will go, but I wouldn't feel comfortable with a open a short before going to bed tonight. Also at this price point I am more concerned with buying compared to selling/shorting. Must remember to add more fiat. Maybe it is not too late  

[Walsoraj]

Methinks megawhale is going to squeeze the shorts to death with invisible bid wall on Bitfinex.

[adamstgBit]

[grappa_barricata]

Good morning, China. You seems hungry today.

[Richy_T]

Methinks megawhale is going to squeeze the shorts to death with invisible bid wall on Bitfinex.

I reckon so.

[adamstgBit]

we're going to test the wall

[ChartBuddy]

Explanation

[ibrahim11]

Is the price going UP?

[hmmmstrange]

we're going to test the wall

half just pulled

[Walsoraj]

Is the price going UP?

Depends on what you mean by "up."  It is approaching the Moon's gravity well.

[thefunkybits]

Is the price going UP?

BTCChina, OKcoin and Huobi are all reaching daily highs while the western exchanges have lagged behind.

$500 on Stamp and BFX incoming!!  

[fallinglantern]

https://www.youtube.com/watch?v=j-fWDrZSiZs&t=45s *waves a lighter* 

[adamstgBit]

typical battle speech before we fearlessly march to certain doom.

[vuduchyld]

Methinks megawhale is going to squeeze the shorts to death with invisible bid wall on Bitfinex.

Possible, but...cui bono?

Who benefits?

I'm not trying to push some hidden agenda and to avoid earlier confusion I caused, I think there is a difference between INFLUENCING price and MANIPULATING price.  

I'm not even saying that it is happening.  But IF it is, I can't imagine that anybody benefits from big rise before 9/1.  I'd personally expect another 9-10 days of massive volatility.  I don't have ANY facts to base this on.  It's pure speculation, which means I'm in the right subforum.

Personally, I made several buys under 470 that I didn't think I'd get to make.  Got to accumulate a little more than I'd expected, and I have powder dry because I'm going to back up the truck again if we get to 435-440.  If we don't, that's cool, too.

Ultimately, I'm a HUGE believer in the longer term.  Ran through some more calculations today and I'm as convinced as ever about VALUE.  Price is short term and it can vary massively from true value.  Right now we have a divergence between price and value, and I'm a BUYER.  I think I'll get more chances, too.

[shmadz]

Leverage is evil in general and shorting on leverage with margin is terrible idea in crypto, for all but the very best of traders....with deep pockets, not only for the individual but for crypto in general leverage sucks balls... as the flash twatage on BTCe  shows... useless leftover from the dying system... what is wrong with shorting thr traditional way? no for some reason, do it on borrowed funds, where you can get hunt stopped  seems like a reasonable idea for some...  wonder why? oh greed...  really wish leverage and margin trading never made it across to BTC personally... and I generally do not touch it... once upon a time with some low priced silver and low leverage sure.. but that really DID make sense.. and it was long not short.  

Meat and bone.....churn...churn...churn.... profit for exchanges churn churn hunt stop hunt stop swing churn, burn and fuck the consequences to the market, well there we go


Leverage is in general evil....think of it the same way as a casino... the odds are not on your side...of course, and if they were do you really think that an exchange/or broker would offer you "free money" to gamble with ?


Man each to their own... and those with the skills and the bankroll of course it can be childs play... in the long run most everyone else as in 90% of people get put through the grinder until they become so despondant they quit at a major loss, seen it over and over and over again.. sure there are some winners.. but much like a poker table... if you are looking around trying to figure out who the sucker is.... then it is most likely you.


Be careful out there.

 

I had to try leverage for myself just to see if it could offer me anything, but the combination of the spread and the interest on the outstanding bets made me realize that after spending the last 20 years getting out of debt, why bother borrowing and gifting someone else a cut of my earnings.

[wingsfan23]

https://www.youtube.com/watch?v=j-fWDrZSiZs&t=45s *waves a lighter* 

haha thats what it feels like when all my family is saying "you lost 25% in one week?"