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

[Sandia]

Looks like we could be in for a sideways weekend here...

Time for a day of rest 

that would be nice.

I would enjoy that too.  I have had 4 hours in the last 2 nights.  My style of trading only gives 0-2 chance per day and they seem to come at bed time here.


Just wait for a bubble, when none of us sleep for a month.

[fonzie]

LTC shorts have gone up from 74k to 128k on Finex since yesterday. Good luck trying to close this positions with this paper-thin LTC orderbook on Finex.

[grappa_barricata]

Breaking 500$? What does Jesse Livermore have to say about this?

"But it is not wise to get out when the break
 is the result of a raid by an operator, because the moment he
 stops the price must rebound. Inverted tips."

[Ultros]

http://www.forbes.com/sites/juliemeyer/2014/08/22/why-to-back-a-bitcoin-start-up/

[Phillis]

yawn, lets get some fuel to power it up to 550

[Sandia]

Breaking 500$? What does Jesse Livermore have to say about this?

"But it is not wise to get out when the break
 is the result of a raid by an operator, because the moment he
 stops the price must rebound. Inverted tips."

Except we been sitting around 504 because of one guy dumping huge earlier and broke 500 support.  The btc market doesn't listen to logic, sadly.  A small minority think Jesse is right; the majority of traders just look at the TA.

[AceWallen]

Looks like we could be in for a sideways weekend here...

Time for a day of rest 

yeah, looks to be that way. i'd say we just broke a key support level at 500 (both fib and psychological), and we'll slosh around here until the bears are ready to take it down another notch.

[grappa_barricata]

Breaking 500$? What does Jesse Livermore have to say about this?

"But it is not wise to get out when the break
 is the result of a raid by an operator, because the moment he
 stops the price must rebound. Inverted tips."

Except we been sitting around 504 because of one guy dumping huge earlier and broke 500 support.  The btc market doesn't listen to logic, sadly.  A small minority think Jesse is right; the majority of traders just look at the TA.

Yeah, if TA worked i will be rich by now

I stopped using it when i realized that:
- future prices are unrelated to past prices
- indicators are only good a posteriori
- a single trade can break a 'trend'
- black swan events happens

[JorgeStolfi]

Didn't they say something about introducing fees in order to stop HFT in their joint statement? I guess they haven't come around to it yet  

As far as i know BTCCHina were the only chinese exchange that had fees in the last months, which would explain the drastic difference in volume between them and the other exchanges.
However they don´t have any fees right now (https://vip.btcchina.com/page/fee), which would explain their massive increase in volume about 10 days ago. Maybe JorgeStolfi can take over from here, he´s THE man for this topic.

Thans, but I am not vey up-to-date on that either.  The last news I recall is an interview of Jun/25 with Bobby Lee, in Chinese, where he seems to rail against leverage trading and accuses Huobi and OKCoin of having restarted HFT, backtracking on that resolution: 

https://bitcointalk.org/index.php?topic=178336.msg7510644#msg7510644

[Sandia]

Yeah, if TA worked i will be rich by now

I stopped using it when i realized that:
- future prices are unrelated to past prices
- indicators are only good a posteriori
- a single trade can break a 'trend'

+1.  Trends usually work, as long as a whale doesn't choose that moment to do whale things.

[macsga]

Hmm... looks like testing $480 again.

[Phillis]

Is there any free programme that I can see signal like buy/sell. Which programme do you use guys? I am not using this kind of programme and I am bitcoin trader like 1 year, I won lot of money but just I want to know, any programmen do you use? Thank you.

well most just look at the charts via bitcoin wisedom, but a great program is available in my signature (the most advanced commercially available program).

[Teppino]

adam post (or pm) your address i'd like to buy you a beer

[macsga]

Yeah, if TA worked i will be rich by now

I stopped using it when i realized that:
- future prices are unrelated to past prices
- indicators are only good a posteriori
- a single trade can break a 'trend'

+1.  Trends usually work, as long as a whale doesn't choose that moment to do whale things.

May I indulge you to read this?

https://bitcointalk.org/index.php?topic=372346

[AceWallen]

Is there any free programme that I can see signal like buy/sell. Which programme do you use guys? I am not using this kind of programme and I am bitcoin trader like 1 year, I won lot of money but just I want to know, any programmen do you use? Thank you.

i use Bitcoinwisdom for real-time candles (for when volatility strikes), otherwise i use TradingView for my charting. TradingView also has a chat where bitcoiners share their charts, it can be interesting to read.

[grappa_barricata]

Yeah, if TA worked i will be rich by now

I stopped using it when i realized that:
- future prices are unrelated to past prices
- indicators are only good a posteriori
- a single trade can break a 'trend'

+1.  Trends usually work, as long as a whale doesn't choose that moment to do whale things.

May I indulge you to read this?

https://bitcointalk.org/index.php?topic=372346

Much appreciated

[wingsfan23]

Lube it up guys, this might be the final crash that is gonna hurt

[abercrombie]

is crypto done?  

[macsga]

is crypto done?  

No, big players try to accumulate (as always)...
This is the most SNAFU story I've read today. It's in Greek, but you can figure it out anyways with GoogleTranslate.
https://translate.google.gr/translate?sl=auto&tl=en&js=y&prev=_t&hl=el&ie=UTF-8&u=http%3A%2F%2Fwww.sofokleousin.gr%2Farchives%2F185880.html%3Futm_source%3DSendloop.com%26utm_medium%3DEmail%26utm_term%3D%25CE%259D%25CF%2584%25CF%2581%25CE%25AC%25CE%25B3%25CE%25BA%25CE%25B9%253A%2520%25CE%2591%25CF%2580%26utm_content%3DSubscriber%2520%252313_2693%26utm_campaign%3D%25CE%259D%25CF%2584%25CF%2581%25CE%25AC%25CE%25B3%25CE%25BA%25CE%25B9%253A%2520%25CE%2591%25CF%2580&edit-text=&search_plus_one=form

[grappa_barricata]

Lube it up guys, this might be the final crash that is gonna hurt

is crypto done?  

Are we supposed to sell NOW?