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

[DaRude]

There are actually a lot of bitcoins trading hands. Good volume so there is resistance/buyers at this lever. But where are the damn dumped coins are coming from  and how many are there left

[Phillis]

Bitcoin is over. Time to face the truth.

I will agree as soon as price hits 275$ again.

bitcoin will not go that low. At the most it will drop to $360 and then spike back up.

[janos666]

There are actually a lot of bitcoins trading hands. Good volume so there is resistance/buyers at this lever. But where are the damn dumped coins are coming from   and how many are there left

Well, Mt.Gox managed to make some 500k BTC disappear without a trace and some others also ran on that race, scoring 10k-50k here and there...

bitcoin will not go that low. At the most it will drop to $360 and then spike back up.

You forgot to go all-in with a short during the freefall from 380$, I see.

[dakota neat]

There are actually a lot of bitcoins trading hands. Good volume so there is resistance/buyers at this lever. But where are the damn dumped coins are coming from   and how many are there left

Bfx switched to naked short selling to squeeze out max before running away with costumers money.

[JayJuanGee]

Bitcoin is over. Time to face the truth.

I will agree as soon as price hits 275$ again.

Even if Bitcoin prices hit $275 again, it is NOT over...   but it may cause a lot of loss of confidence... especially if it were to go into the $100s or even double digits....

Those kinds of numbers would really cause me to be suspicious about if there is some fractional reserve banking going on.

[edwardspitz]

I have a few indicators that are making new records today. Woodies CCI below -400 on the hourly chart... I choose to take it as a strong buy signal  

Those hidden buy orders on Bitfinex could be shorts closing their positions + buying back.

Edit: I cut my chose

[ShroomsKit]

Bitcoin is over. Time to face the truth.

Stop talking your book you noisy troll.

Pretty heavy volume. Any actual news or just the boys having fun?

My book? Wtf are you talking about?

[madmat]

I have a few indicators that are making new records today. Woodies CCI below -400 on the hourly chart... I chose to take it as a strong buy signal  

Those hidden buy orders on Bitfinex could be shorts closing their positions + buying back.

How do you see hidden buy orders ?

[Pala_00]

Bitcoin is over. Time to face the truth.

[DaRude]

There are actually a lot of bitcoins trading hands. Good volume so there is resistance/buyers at this lever. But where are the damn dumped coins are coming from   and how many are there left

Well, Mt.Gox managed to make some 500k BTC disappear without a trace and some others also ran on that race, scoring 10k-50k here and there...

bitcoin will not go that low. At the most it will drop to $360 and then spike back up.

You forgot to go all-in with a short during the freefall from 380$, I see.

Right, these dumps are done in a way to liquidate A LOT of coins. Market wants to go up but every time it builds up it gets slammed with huge dumps (usually starting middle of night in US). Smells fishy, the 30k bearwhale fishy. This is not manipulation as with there's no panic and no chance to rebuy lower. This is just dumping tons and tons of coins

[barbs]

Cut yeeerrrrrrr looooooooseee!!!! 111111

[ChartBuddy]

Explanation

[Newbie1022]

Down $1,000... sad about it... cutting loose... will make money back on the continued downswing since we broke a TA marker. Lemons to lemonade, mofos.

[edwardspitz]

I have a few indicators that are making new records today. Woodies CCI below -400 on the hourly chart... I choose to take it as a strong buy signal  

Those hidden buy orders on Bitfinex could be shorts closing their positions + buying back.

How do you see hidden buy orders ?

You can see it by comparing the individual trades (below the order book) and what orders are actually visible on the order book (I am looking at Bitcoinwisdom). Because of these hidden orders bid support might actually be strong even though it appears weak. Right now 3k coins were sold, but price "only" dropped $4-$5... This also indicates that there was pretty strong support between $368 and $364. Everyone can create hidden orders on Bitfinex, but I think they cost more. They give whales unfair advantage in my opinion.

[tarmi]

this will get ugly.

good luck to you bulls. no more choo choo long time. 

when you see some perm bears trolling and turning into bulls you know it's time to get out.

[madmat]

I have a few indicators that are making new records today. Woodies CCI below -400 on the hourly chart... I chose to take it as a strong buy signal 

Those hidden buy orders on Bitfinex could be shorts closing their positions + buying back.

How do you see hidden buy orders ?

You can see it by comparing the individual trades (below the order book) and what orders are actually visible on the order book (I am looking at Bitcoinwisdom). Because of these hidden orders bid support might actually be strong even though it appears weak. Right now 3k coins were sold, but price "only" dropped $4-$5... This also indicates that there was pretty strong support between $368 and $364. Everyone can create hidden orders on Bitfinex, but I think they cost more. They give whales unfair advantage in my opinion.

Thanks a lot for these explanations. I don't use bitfinex, but on kraken, hidden orders don't cost more. Simply create an order of the type stop loss or make profit and the order will be triggered when price hits the target price.

https://www.kraken.com/help/trading-guide#take-profit-orders

[edwardspitz]

I have a few indicators that are making new records today. Woodies CCI below -400 on the hourly chart... I chose to take it as a strong buy signal 

Those hidden buy orders on Bitfinex could be shorts closing their positions + buying back.

How do you see hidden buy orders ?

You can see it by comparing the individual trades (below the order book) and what orders are actually visible on the order book (I am looking at Bitcoinwisdom). Because of these hidden orders bid support might actually be strong even though it appears weak. Right now 3k coins were sold, but price "only" dropped $4-$5... This also indicates that there was pretty strong support between $368 and $364. Everyone can create hidden orders on Bitfinex, but I think they cost more. They give whales unfair advantage in my opinion.

Thanks a lot for these explanations. I don't use bitfinex, but on kraken, hidden orders don't cost more. Simply create an order of the type stop loss or make profit and the order will be triggered when price hits the target price.

https://www.kraken.com/help/trading-guide#take-profit-orders

I like Kraken a lot. I guess these order types can be used in the same way as hidden bit orders because you can use them for both sell and buy orders?

[janos666]

Bitcoin is over. Time to face the truth.

I will agree as soon as price hits 275$ again.

Even if Bitcoin prices hit $275 again, it is NOT over...   but it may cause a lot of loss of confidence... especially if it were to go into the $100s or even double digits....

Those kinds of numbers would really cause me to be suspicious about if there is some fractional reserve banking going on.

I assume a lot of people thought it can't fall below 300$.
When it did, some players stormed in to save the day. They even gave us the false hope of a trend reversal to keep it from repeating too soon.
But I guess they keep limited amount of fiat on the exchanges and have their threshold what they are ready to absorb.
And I guess many people are keeping a much closer eye on the charts and they are still significantly more nervous about the downward price movements after that manbearwall incident.

So, practically everything is set up for an exponentially accelerating freefall.

Meanwhile, the long term trend is still negative (just take a look at the daily chart).


To sum it up, it's practically just a matter of time to reach 0.01$ unless something dramatically changes. And it can happen much faster than we would assume it's possible.


Of course, anything can happen anytime, the trend can revers and we can see a new ATH by the end of this month. But it's not granted. Nothing is.

[redsn0w]

Bitcoin is over. Time to face the truth.

I will agree as soon as price hits 275$ again.

Even if Bitcoin prices hit $275 again, it is NOT over...   but it may cause a lot of loss of confidence... especially if it were to go into the $100s or even double digits....

Those kinds of numbers would really cause me to be suspicious about if there is some fractional reserve banking going on.

I assume a lot of people thought it can't fall below 300$.
When it did, some players stormed in to save the day. They even gave us a the false hope of a trend reversal to keep it from repeating too soon.
But I guess they keep limited amount of fiat on the exchanges and have their threshold what they are ready to absorb.
And I guess many people are keeping a much closer eye on the charts and they are still significantly more nervous about the downward price movements after that manbearwall incident.

So, practically everything is set up for an exponentially accelerating freefall.

Meanwhile, the long term trend is still negative (just take a look at the daily chart).


To sum it up, it's practically just a matter of time to reach 0.01$ unless something dramatically changes. And it can happen much faster than we would assume it's possible.


Of course, anything can happy anytime, the trend can revers and we can see a new ATH by the end of this month. But it's not granted. Nothing is.

Yeah you're right , at the end is only a manipulation from some early adopters/miners . Don't worry ....

[madmat]

I have a few indicators that are making new records today. Woodies CCI below -400 on the hourly chart... I chose to take it as a strong buy signal 

Those hidden buy orders on Bitfinex could be shorts closing their positions + buying back.

How do you see hidden buy orders ?

You can see it by comparing the individual trades (below the order book) and what orders are actually visible on the order book (I am looking at Bitcoinwisdom). Because of these hidden orders bid support might actually be strong even though it appears weak. Right now 3k coins were sold, but price "only" dropped $4-$5... This also indicates that there was pretty strong support between $368 and $364. Everyone can create hidden orders on Bitfinex, but I think they cost more. They give whales unfair advantage in my opinion.

Thanks a lot for these explanations. I don't use bitfinex, but on kraken, hidden orders don't cost more. Simply create an order of the type stop loss or make profit and the order will be triggered when price hits the target price.

https://www.kraken.com/help/trading-guide#take-profit-orders

I like Kraken a lot. I guess these order types can be used in the same way as hidden bit orders because you can use them for both sell and buy orders?

Exactly. You could even make an order with a stop loss and make profit targets. Kraken is very good for trading, this is sad they raised fees from 0.20% to 0.35%.