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

[Wandererfromthenorth]

Double top?

Short squeeze might be over for today...
or nah?

[dropt]

Its called market wisdom. Markets dont wait to price something in until the very last trader has understood whats going on. They start way ahead of the actual news...

So then, it's plausible that our dumper friend is inside to these ETF's and has learned that they'll (Wink) not be approved?

[molecular]

Hm, I just noticed something...

I think the BFX "mega-whale" may be shared orderbooks between stamp and bfx again. They stopped doing that awhile ago, but after the long squeeze its back on.

This means BFX bid walls are mostly "fake" (in that they are not backed by anything) if correct.

?

can you explain that in a little more detail about this "shared orderbook"?

[ChartBuddy]

Explanation

[Alley]

Could the price increase be because of the jump in difficulty yesterday?

[grappa_barricata]

[molecular]

Could the price increase be because of the jump in difficulty yesterday?

there's so many things contributing to the price of a bitcoin on these markets we look at. The most influencial ones are the internal dynamics of that market itself, at least in the short term.

[bassclef]

Just remember kids: sharp bounces don't necessarily mean a true reversal.

Just look at what happened in April - a sharp bounce from bottom off  339 all the way to 554 on about 4X the volume of this recent bounce.  Everybody cheered "Hooray!  Look at that volume! Downtrend is over, bottom is in, only up from here!"  Then look what happened over the next 2 weeks after the rally... slow fall from 554 down to 420's.  Where it stayed for a month.

So yeah.  I predict that within 10 days (by 9/1) you'll have your answer whether this rally was sustainable or not.

who cares? up! ccmf!

What he's not taking into account is that we're coming to the end of a long continuation pattern that started when $1100 fell in November, so volume is expected to dry up as the price bounces off an ever-decreasing price ceiling. That means if we break above $570 it will be a more important breakout psychologically than the one in April, giving us an almost textbook bullish pennant, breaking out 3/4 of the way through.

[ImI]

Its called market wisdom. Markets dont wait to price something in until the very last trader has understood whats going on. They start way ahead of the actual news...

So then, it's plausible that our dumper friend is inside to these ETF's and has learned that they'll (Wink) not be approved?

Haha! Nice interpretation. 

I expect Winklevoss to come out with some sort of announcement at Nov/Dez. I remember to have read some interview with some Wallstreetguy who said that he expect results about the ETF in 2014.
Markets usually start to price in news way before the event itself. So that would lead to sep/oct/nov as some nice pre-movement.

[ImI]

Could the price increase be because of the jump in difficulty yesterday?

no

[Torque]

Just remember kids: sharp bounces don't necessarily mean a true reversal.

Just look at what happened in April - a sharp bounce from bottom off  339 all the way to 554 on about 4X the volume of this recent bounce.  Everybody cheered "Hooray!  Look at that volume! Downtrend is over, bottom is in, only up from here!"  Then look what happened over the next 2 weeks after the rally... slow fall from 554 down to 420's.  Where it stayed for a month.

So yeah.  I predict that within 10 days (by 9/1) you'll have your answer whether this rally was sustainable or not.

who cares? up! ccmf!

Only people that care are existing long term bulls looking to buy more, and not fall for any traps.  

(But I'll always be ready for CCMF!!!)

[Riddikulo]

Come on, hold!!

[grappa_barricata]

Another big move inbound. Guess in which direction. Hint: it will be the most painful one.

[hyphymikey]

People wanting cheaper coins and we had some profit takers at this "false top"... Ready for the next leg up?

[empowering]

Another big move inbound. Guess in which direction. Hint: it will be the most painful one.

a kick in the nuts ?

[Yololintian]

2600 ask depth to 590 on bitfinex. Shorts better hope there are some nice hidden ask walls...

[amit123]

520$ looks good for the day..! lets see where it will be when I'll wake up tomorrow . expecting just + -15$

[grappa_barricata]

520$ looks good for the day..! lets see where it will be when I'll wake up tomorrow . expecting just + -15$

Only in bitcoin markets that is a conservative estimate!

[hyphymikey]

Where is shroomie? I'm surprised he isn't on here cussing out all the idiot traders that are selling as we move up.

[klee]