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

[Tzupy]

snip

I agree that fundamentals are strong.

But the technicals are very bad and even if fundamentals remain strong, prices can go down a lot more

The fundamentals are strong outside China. But unfortunately most BTC trading is still in China, and as long as the
PBoC's stance on BTC doesn't improve, for the Chinese BTC is a sort of digital tulip bulbs.

[findftp]

snip

I agree that fundamentals are strong.

But the technicals are very bad and even if fundamentals remain strong, prices can go down a lot more

The fundamentals are strong outside China. But unfortunately most BTC trading is still in China, and as long as the
PBoC's stance on BTC doesn't improve, for the Chinese BTC is a sort of digital tulip bulbs.

Yes, the functionality of bitcoin is totally dependent on the Chinese.
Thank god there are Chinese people on this earth, without them the world would stop spinning.


/s

[ChartBuddy]

Explanation

[hdbuck]

snip

I agree that fundamentals are strong.

But the technicals are very bad and even if fundamentals remain strong, prices can go down a lot more

The fundamentals are strong outside China. But unfortunately most BTC trading is still in China, and as long as the
PBoC's stance on BTC doesn't improve, for the Chinese BTC is a sort of digital tulip bulbs.

Yes, the functionality of bitcoin is totally dependent on the Chinese.
Thank god there are Chinese people on this earth, without them the world would stop spinning.


/s

1,357 Billion Chinese people & Discuss Fish is now n°1 mining pool
gogo China?! ^^

[findftp]

snip

I agree that fundamentals are strong.

But the technicals are very bad and even if fundamentals remain strong, prices can go down a lot more

The fundamentals are strong outside China. But unfortunately most BTC trading is still in China, and as long as the
PBoC's stance on BTC doesn't improve, for the Chinese BTC is a sort of digital tulip bulbs.

Yes, the functionality of bitcoin is totally dependent on the Chinese.
Thank god there are Chinese people on this earth, without them the world would stop spinning.


/s

1,357 Billion Chinese people & Discuss Fish is now n°1 mining pool
gogo China?! ^^

Yes, I see. China is ruling the world. Again, without them the world would stop spinning.

/s

[ChartBuddy]

Explanation

[NotLambchop]

...
Yes, I see. China is ruling the world. Again, without them the world would stop spinning.

/s

Without them, the world would not stop spinning.  The same is true for mankind as a whole.  Not getting your sarcasm.

[derpinheimer]

Finex:

USD   0.0675%   0.118%   19,981,943.88 USD
BTC   0.0368%   0.0085%   10,122.85 BTC
LTC   0.0482%   0.0623%   132,347.66 LTC

Squeeze is coming! 

What's it mean?!

[jeezy]

Yes, I see. China is ruling the world. Again, without them the world would stop spinning.

/s

That one guy on Guam is like...

[Hunyadi]

Yes, I see. China is ruling the world. Again, without them the world would stop spinning.

/s

That one guy on Guam is like...

That guy has red nails... 

[edwardspitz]

Yes, I see. China is ruling the world. Again, without them the world would stop spinning.

/s

That one guy on Guam is like...

That guy has red nails...  

....that one guy on Guam is getting whipsawed while his wife is enjoying a weekend on the beach  

[derpinheimer]

The fact the price can hover so close to the 'bottom' without resistance tells me there is more room to stop. China seems tempted to push for a new low right now.

[bigdave]

Unless something changes I think we're poised to go back down to the 380s.

[Sandia]

Finex:

USD   0.0675%   0.118%   19,981,943.88 USD
BTC   0.0368%   0.0085%   10,122.85 BTC
LTC   0.0482%   0.0623%   132,347.66 LTC

Squeeze is coming! 

What's it mean?!

Interest rate for longs and shorts is about equal, which is very rare.  Shorts are usually very, very cheap.
The number of shorts is huge.  If the price rises significantly, they will be closed (buying btc) which will accelerate a rise.

[empowering]

...
Yes, I see. China is ruling the world. Again, without them the world would stop spinning.

/s

Without them, the world would not stop spinning.  The same is true for mankind as a whole.  Not getting your sarcasm.

Without them the hard drives of the world would spin less.... or at least cost more to spin...

Thank you China... you make our happy meals possible

(edit- I never eat MacDonalds)

[rebuilder]

I agree that fundamentals are strong.

But the technicals are very bad and even if fundamentals remain strong, prices can go down a lot more

This. The market price appears to be have been dictated much more by speculative demand than fundamentals for a long time now. It's entirely possible we're still far, far above any price supportable by non-speculative use. In that case the fundamentals are catching up to investor expectations, but may be lagging significantly behind.

TL;DR: Bitcoin appears to be doing fine. That doesn't tell us much about what the expected price of BTC should be.

[derpinheimer]

Finex:

USD   0.0675%   0.118%   19,981,943.88 USD
BTC   0.0368%   0.0085%   10,122.85 BTC
LTC   0.0482%   0.0623%   132,347.66 LTC

Squeeze is coming! 

What's it mean?!

Interest rate for longs and shorts is about equal, which is very rare.  Shorts are usually very, very cheap.
The number of shorts is huge.  If the price rises significantly, they will be closed (buying btc) which will accelerate a rise.

This.
It's really positive there is so many shorts and the price is still above 400$. Few buys could force those "bears" to close their shorts! If we don't see more dumping soon the price could go back to 430$ (or more) in next 24h... rates are to high.                                                                                           

Why do you have the idea that the market can't drop without new shorts? And knowing how close a squeeze is without buyers trying to trigger a cascade is bad.

[ChartBuddy]

Explanation

[Tzupy]

New China ban looming?
http://www.cryptocoinsnews.com/great-firewall-of-china-blocks-bitcointalk-org/

[spooderman]

Great. The market should respond to this by falling about $2.71