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

[razorramon]

someone desperate to sell on bitfinex

if it isn't fake you'll soon have your 420$ bitcoins

[Erdogan]

... Always wondered why hodlers hang out in speculation.. makes no sense. What do they care, they will never participate in price discovery.

Hmm. Should I tell the statist guy in the office to the left about bitcoin? No, let him rot. My friend in the office on the right? Maybe, but it takes a lot of work, starting from the question: I heard IS use bitcoin to do their evil thing. The young guy down the isle? No, he really does not need money, he would prefer to be paid in gasoline and beer. Should I give some millibitcoins to Wikileaks? To OpenBazar? Maybe, their project looks promising. Let me just calculate how much, percentage wise, a donation will take me back...shit, my calculator does not have enough digits.

Hard questions, have to think about it for a while. Back to bitcointalk and the walls.

[DaRude]

someone desperate to sell on bitfinex

if it isn't fake you'll soon have your 420$ bitcoins

2k ask wall after 1k bid wall was pulled? from Huobi. I for one welcome volatility, let there be blood

[Sandia]

someone desperate to sell on bitfinex

if it isn't fake you'll soon have your 420$ bitcoins

Oh, look.  A 2k wall again.
Just a totally natural market action, not another big guy driving the price into the ground to grab more coins.

Edit: As I said in prior posts.  No buying pressure to go up past 482 since buyers have learned they will get smashed back down, packed coins around 470, so no room to make money on dumping.  Put up 2k wall, force support to break, go back to playing the dump game.  Anyone see the pattern yet?  Does anyone see any reason this will end?  It has been over 2 months of this already.

[edwardspitz]

Look at all those walls on Bitfinex You get 2000 BTC with almost no slippage. I just took 6 BTC for myself. I migth take more, but quite frankly I'm feeling a bit intimidated by those walls. If you shorted with 2000 BTC on Finex I kindly ask you to close your shorts now

[razorramon]

i just wish i wouldn't have been so bullish the last weeks...i could have shorted all the way down and NOT lose so much money
well you always know more afterwards

it could be possible that the ask walls are fake to gain a bit momentum...but more reasonable the bid walls are fake as they have been the last weeks

[Erdogan]

that is possible when your atoms (or what is left of you in atoms) are about when the heat death of ther universe happens ..they may well
be the last to vibrate! (good to have goals)

Searing

I was put in solitary confinement for insanity, and the voices I heard made me promise to be the last moving thing in the universe so that my death would mark the beginning of the fourth dimensional universe.

Nobody will be left out of heaven. I promise.

And then, slowly and unnoticeably, all your atoms were replaced.

[adaseb]

Huge offers appearing now on Bitfinex

[razorramon]

Huge offers appearing now on Bitfinex

470 resistance is broken...now a couple of minutes where a bounce back is expected, then 1,2 larger dumps and we are < 450

[nanobrain]

This. If nothing else there is truly a problem for the brand when exchanges malfunction, when markets are manipulated by margin hunters, and when the price is more or less set by a Junta of pot heavy insiders. The new money is, almost by definition, not of the hodler/true believer mentality. They can be converted, but it takes a while... again, they are new. So, if they lose a bit here and there while learning that is great. If they get whipsawed to death by market activity that is unexplained by TA or news... you lose them. We are skirting near the territory where you are facing the potential of a long-term setback for adoption and support.

I think we are losing adoption NOW.  User numbers don't seem to be rising at all, and the main complaint is losing money on their investment.  I literally know no one else who owns coins anymore.  This manufactured drop from $600 is killing the tech. (Tes, exchange rates matter, trolls.)

Note that game theory says the price will trend to zero.  As long as there are hundreds of people with enough coins to play the dump game, one of them will continue doing it to make their extra 20 or 30 coins per day.  If you gave me 3k btc today, I could guarantee I would have 6k in 90 days.  The game is too easy.  

Those posters who say that the only people who care about the price (exchange rate) are get rich quick dreamers are deluded.  If I could buy a laptop with 2 bitcoins 3 months ago, but now need to use 3 btc, there is a serious problem.  And as long as 99.9% of goods require USD to purchase, the exchange rate is important.

I left out one point before: look at how much concentrated effort it took to break through support at 500.  Thousands and thousands and thousands of coins dumped to break support and make the dump game possible again.  How many of the big guys had to help to break through?  I sincerely thought it was impossible to reach 490...forgetting that there are single individuals with 50k coins who could wipe out the entire order book.

Now, explain to me how it is possible to have another bubble.  It will be a race to see who can dump fastest and hardest to make the biggest percentage gain on a thin order book.  IIRC, to cut the price 40% in November only took a 1k dump; stops triggered, margins called, panic selling, huge profit with no risk.  They won't be able to control themselves when the opportunity arises next time .

I will say this with all honesty: I no longer believe btc has any chance of being a serious currency due to its users.  I have always been a short term agnostic and long term bull.  I am full bear now.  I doubt that we will ever see 700 again, and 300's will be here soon.  The big guys are warning everyone everyday that they want lower prices.  Believe them.

Congratulations on being the most recent in a long line of thousands who have predicted the end of bitcoin. There have been many before you and there will be many after you. Thanks for being a part of it all.

There will always be "end of worlders" and there will always be "end of bitcoiners."

And yet you (Windjc) are always promoting "logic" and "dispassionate" trading but the numbers don't lie: we have been going down all year, are still going down and there appears to be little new blood in the market.

So, BTC's ultimate success becomes an article of faith -- the antithesis of what you claim drives your involvement in Bitcoin.

[adaseb]

The way you trade this is as follows.


If the offers get pulled, it was a bear trap. Most likely somebody was covering their short or buying low at these levels. The 2000 BTC walls were to scare you into selling.


If the offers get filled, then its bearish momentum. Such as what happened 3 days ago...

[razorramon]

The way you trade this is as follows.


If the offers get pulled, it was a bear trap. Most likely somebody was covering their short or buying low at these levels. The 2000 BTC walls were to scare you into selling.


If the offers get filled, then its bearish momentum. Such as what happened 3 days ago...

well 500btc were dumped...still 2k left and moving downwards slightly
there isn't even a testing of the walls because no one wants to buy

[ChartBuddy]

Explanation

[grappa_barricata]

Someone is desperate... not me, I'm enjoying my coffee.

[Newbie1022]

Get the popcorn!!

[Newbie1022]

The way you trade this is as follows.


If the offers get pulled, it was a bear trap. Most likely somebody was covering their short or buying low at these levels. The 2000 BTC walls were to scare you into selling.


If the offers get filled, then its bearish momentum. Such as what happened 3 days ago...

well 500btc were dumped...still 2k left and moving downwards slightly
there isn't even a testing of the walls because no one wants to buy

This is really what I see as the issue. I don't know if a bunch of new blood got pissed and left altogether or whether it is just a burn out phase from a few active weeks. But, if it keeps up then this will be a very deep rout.

[Room101]

This. If nothing else there is truly a problem for the brand when exchanges malfunction, when markets are manipulated by margin hunters, and when the price is more or less set by a Junta of pot heavy insiders. The new money is, almost by definition, not of the hodler/true believer mentality. They can be converted, but it takes a while... again, they are new. So, if they lose a bit here and there while learning that is great. If they get whipsawed to death by market activity that is unexplained by TA or news... you lose them. We are skirting near the territory where you are facing the potential of a long-term setback for adoption and support.

I think we are losing adoption NOW.  User numbers don't seem to be rising at all, and the main complaint is losing money on their investment.  I literally know no one else who owns coins anymore.  This manufactured drop from $600 is killing the tech. (Tes, exchange rates matter, trolls.)

Note that game theory says the price will trend to zero.  As long as there are hundreds of people with enough coins to play the dump game, one of them will continue doing it to make their extra 20 or 30 coins per day.  If you gave me 3k btc today, I could guarantee I would have 6k in 90 days.  The game is too easy.  

Those posters who say that the only people who care about the price (exchange rate) are get rich quick dreamers are deluded.  If I could buy a laptop with 2 bitcoins 3 months ago, but now need to use 3 btc, there is a serious problem.  And as long as 99.9% of goods require USD to purchase, the exchange rate is important.

I left out one point before: look at how much concentrated effort it took to break through support at 500.  Thousands and thousands and thousands of coins dumped to break support and make the dump game possible again.  How many of the big guys had to help to break through?  I sincerely thought it was impossible to reach 490...forgetting that there are single individuals with 50k coins who could wipe out the entire order book.

Now, explain to me how it is possible to have another bubble.  It will be a race to see who can dump fastest and hardest to make the biggest percentage gain on a thin order book.  IIRC, to cut the price 40% in November only took a 1k dump; stops triggered, margins called, panic selling, huge profit with no risk.  They won't be able to control themselves when the opportunity arises next time .

I will say this with all honesty: I no longer believe btc has any chance of being a serious currency due to its users.  I have always been a short term agnostic and long term bull.  I am full bear now.  I doubt that we will ever see 700 again, and 300's will be here soon.  The big guys are warning everyone everyday that they want lower prices.  Believe them.

Congratulations on being the most recent in a long line of thousands who have predicted the end of bitcoin. There have been many before you and there will be many after you. Thanks for being a part of it all.

There will always be "end of worlders" and there will always be "end of bitcoiners."

And yet you (Windjc) are always promoting "logic" and "dispassionate" trading but the numbers don't lie: we have been going down all year, are still going down and there appears to be little new blood in the market.

So, BTC's ultimate success becomes an article of faith -- the antithesis of what you claim drives your involvement in Bitcoin.

All this has happened before and will happen again....

[Wexlike]

"2014 - the year of bitcoin"

[Room101]

BTC still serves several purposes nothing else can. What price it should be i am not sure, but the darknet alone is growing by a 1000% a year. Retails offering BTC payments to overseas buyers will be huge, i am frequently frustrated i have to eat paypals 3-4% currency conversion fee, plus the world being what it is at the moment, i imagine BTC will find a place quite low on Exters Pyramid.

[JerryCurlzzz]

Some nice manipulation walls on Bitfinex. They'll disappear in an instant if the rest of the market moves up. But for now, the trend continues down. This is a bit painful to watch tbh.