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

[njcarlos]

Which standard do you think this technology should be disruptive of - the bitcoin symbols, or the bitcoin subunits?  That's pretty much all this press release mentions.

"Obtaining an internationally recognized currency code for Bitcoin will enable more fluid international transactions and currency conversion."

It's that they feel the need to meet standards in general that's funny. BTC is anything but standard, right? Or so they said

[derpinheimer]

Am I the only one that sees we are overbought.

Bitstamp is overbought but being manipulated up; BFX is still oversold.

And why you think so about stamp? Fall from 380$ to 275$ was manipulated... this is just a return back. It is known there is much more fiat on stamp as orderbook shows it. This push back is a correction after quick rise.
I agree about bitfinex. Shorts are at ATH, while number of longs is still low. When the shorts get burned the real panic buying will start. My guess is 390-395$ is the level where squeeze will happen.

I suppose I shouldnt call bitstamp overbought; just "neutral", but it would be my opinion that they are overdue for some selling. That market still seems to be suffering deer-in-headlights after mega-whale. Bid depth is pretty poor and ask walls pop up at every corner. But no one ever really sells. The fact they hold over BFX (which is clearly oversold) says, to me, that they are being manipulated up.

Cant really dispute the short/long info tho.

[prophetx]

Am I the only one that sees we are overbought.

Bitstamp is overbought but being manipulated up; BFX is still oversold.

Ok so I'm being logical thinking that this upward trend can't be sustained.

Well I think regardless of whether or not a true reversal occurred at $300 or not, a retrace is due..

The market clearly wants to move down but there are still plenty of buyers.

a double bottom would be a very strong indication of a true reversal



after the double bottom happens the rocket ship will be ready for the moon

[gwoplock]

Am I the only one that sees we are overbought.

Yes.. you and maybe one or two other delusional bears..  

Ok what am I missing then. I'm new to this so I want to learn.

I don't claim to know much of anything either.. that is why I threw in the smiley faces.


However, I personally believe these terms of being overbought in these conditions have the potential of missing the point that BTC has been in a 10 month downtrend that has likely been manipulated downward.

Accordingly, we remain at a very low price point for the overall trend, there have been a lot of people pushed off into the side-lines looking for a trend reversal and their opportunity to buy back in.. and this may be the point to buy back in.. Yes there may be a bit of a battle for a week or so regarding whether the trend has actually reversed, and in the mean time, people may be getting back in or considering to get back in because the price has been so low for so long...

In other words, in looking at the longer term and the total market dynamics, I think it is a bit too short-sighted to suggest that we are overbought merely b/c there has been a 40% upward advance in the last week.  

We can probably both agree that we are likely to see quite a bit of continued trading action in the coming days..

Ok. That makes sense. Thanks.

[podyx]

dear god that ass, lord have mercy lol

[NotLambchop]

Chow time?

[JayJuanGee]

Am I the only one that sees we are overbought.

Bitstamp is overbought but being manipulated up; BFX is still oversold.

Ok so I'm being logical thinking that this upward trend can't be sustained.

Well I think regardless of whether or not a true reversal occurred at $300 or not, a retrace is due..

The market clearly wants to move down but there are still plenty of buyers.

a double bottom would be a very strong indication of a true reversal



after the double bottom happens the rocket ship will be ready for the moon

Oh MY!!!!!   I forgot what we were talking about...       

[YogoH]

Nice pit-stop to pick up the slow ones at 370,  next its 395 and potentially taking down 400.   All-time high active swaps on bitfinex

[prophetx]

dear god that ass, lord have mercy lol

amen lol

[hyphymikey]

Get trapped bears!

[WeltMaster]

Hahah all these smart "investors" saying bitcoin is a good short right now with such certainty...

Yes, we might test new lows or maybe a double bottom. IMO pretty unlikely but it could happen.

But they really don't have a clue about the honey badger do they

[Moria843]

The days of wine and roses? I hope not. For those of you who are too young, this is an old movie and it didn't end well.

[ChartBuddy]

Explanation

[adamstgBit]

solid volume on the pull back this is looking like a trap.

also, virtex doesn't give a shit 

[JayJuanGee]

Hahah all these smart "investors" saying bitcoin is a good short right now with such certainty...

Yes, we might test new lows or maybe a double bottom. IMO pretty unlikely but it could happen.

But they really don't have a clue about the honey badger do they

Maybe that explains, in part, why people tend to lose a lot of money when they attempt to trade and time the market?  b/c shorting bitcion would have been very good in the last 10 months; however, i have pretty strong doubts that shorting is NOT going to play out as well, as an over all strategy in the next 10 months - and in that regard, probably the exact opposite will be the better gamble, in the next 10 months-ish... and if history is any indicator, the bull period may be even shorter - once it does hit.

[WeltMaster]

China leads the rally again...

What is it with the rest of the world?

[adamstgBit]

solid volume on the pull back this is looking like a trap.

also, virtex doesn't give a shit  

i spoke to soon virtex gives a shit nice little sell off just now

but i'm going to need another leg down to get back in    

[podyx]

solid volume on the pull back this is looking like a trap.

also, virtex doesn't give a shit  

i spoke to soon virtex gives a shit nice little sell off just now

but i'm going to need another leg down to get back in    

I do think we gonna have a big bear trap down to 330-340 after we've hit 440 sometime this weekend

Don't take my word for it though

[adamstgBit]

solid volume on the pull back this is looking like a trap.

also, virtex doesn't give a shit  

i spoke to soon virtex gives a shit nice little sell off just now

but i'm going to need another leg down to get back in    

I do think we gonna have a big bear trap down to 330-340 after we've hit 440 sometime this weekend

Don't take my word for it though

i know, bye bye my little coins, it was nice hodling you 

[staffsan]

I want to be a pro tradah^, should i short now? Anyone? Adam?

Also, could someone explain this whole honey badger thing?I tried to understand, i googled honey badger and found a youtube video about the "crazy nastyass honey badger", and i also read the wiki from which my favourite part is:

"The voice of the honey badger is a hoarse "khrya-ya-ya-"ya" sound. When mating, males emit loud grunting sounds.[5] Cubs vocalise through plaintive whines.[7] When confronting dogs, honey badgers scream like bear cubs.[29]"