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

[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?

[1715018171]

1715018171

[1715018171]

1715018171

[1715018171]

1715018171

[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%.

[YogoH]

What if large players who don't want bitcoin to succeed are buying OTC bitcoin and dumping on exchanges to suppress the price?  They have the budget to keep the dumps happening and it shakes the faith many people have in the technology.

[alexeft]

And difficulty still increased, even if by a little!!! Amazing!

Bitcoin is dead people say??? 

[janos666]

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%.

They do have a nice system but it's incomplete. There is no leverage tragind because there is no volume and ... well, I guess ... there is no volume because there is no leverage trading.

Sometime during this summer I did some neutral trades solely for reaching lower fees. I hit something like 0.1% (the price barely moved then, so the risk of losing on the trades was low and there was no way to reach high profits anyway). Later I found out that it's only temporary and now my account has an even higher fee than early on. LOL

[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.

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.

I pretty much agree with everything you are saying; however, I have the sense that BTC prices can only be pushed down so much, unless there happens to be fake coins.,,,

And, Yes, I was one of those that by the time prices reached the mid-to-upper $600s in June,  I thought that prices were never returning to the $300s, and once prices got into the lower $400s, I thought NO way they were going to go below about $360, and as we know the price went lower than both of those points.  

Accordingly, I am NOT going to say that it would be impossible to go below $275 .. and I would NOT even say that it is impossible to go below $200 - however, I am starting to become very suspicious about some kind of fractional reserves, in the event that prices were to be able to go to those below $200 price points.

In this regard, it is my sense that too many positive developments have occurred in the last year and too many big monied players have invested substantially into BTC and they likely should have the means to prevent the price from going below a certain threshhold point... such as $200...

[Phillis]

if any of you traders who do not use software automation for your trades, Haasbot is running a promo where you can win a 3 month advanced license by following them on twitter and by retweeting their promo tweet.

Tweet: https://twitter.com/Haasonline1/status/525206999777431552
Blog Post about this: https://www.haasonline.com/latest-news/win-3-month-advanced-license-following-us-twitter-retweeting-tweet/

[mmitech]

What if large players who don't want bitcoin to succeed are buying OTC bitcoin and dumping on exchanges to suppress the price?  They have the budget to keep the dumps happening and it shakes the faith many people have in the technology.

What if the price of Bitcoin was simply a bubble which is bursting right now ?

[spooderman]

oh ffs!

[mmitech]

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 ....

Yea, fractional reserve, manipulation, agendas, conspiracy from banks...... keep dreaming and losing your shit when the bubble is bursting, I really wonder what will be your response at the bottom.

[janos666]

And, Yes, I was one of those that by the time prices reached the mid-to-upper $600s in June,  I thought that prices were never returning to the $300s, and once prices got into the lower $400s, I thought NO way they were going to go below about $360, and as we know the price went lower than both of those points.  

I sold my friend's and my sister's coins (all of it) during those 650-ish days, cashed out their fiat and gave them an advise to buy gold instead (which they fully ignored).

I kept my coins because I figured I can mitigate the possible losses by some conservative margin trading (ride the big waves only but do ride those) and I can easily take the remaining risk because the potential is very high. But it's have the potential to get too hectic.

[JayJuanGee]

What if large players who don't want bitcoin to succeed are buying OTC bitcoin and dumping on exchanges to suppress the price?  They have the budget to keep the dumps happening and it shakes the faith many people have in the technology.

I believe that a lot of us conjecture and are pretty convinced that what you say is exactly what is happening.  Yet, I believe that a lot of us have faith that sooner or later these large bear whales are going to run out of coins (unless they are stealing them or engaging in some kind of fractional reserves).   

[NotLambchop]

...
I kept my coins because I figured I can mitigate the possible losses by some conservative margin trading (ride the big waves only but do ride those) and I can easily take the remaining risk because the potential is very high. But it's have the potential to get too hectic.

Fun activities, everyone!

[ChartBuddy]

Explanation

[JayJuanGee]

What if large players who don't want bitcoin to succeed are buying OTC bitcoin and dumping on exchanges to suppress the price?  They have the budget to keep the dumps happening and it shakes the faith many people have in the technology.

What if the price of Bitcoin was simply a bubble which is bursting right now ?

Doesn't sound too likely - but it does sound like your wish and your theory - but out of people who are supposedly informed, you are a pretty extreme minority if you really believe that ( which causes me to believe that you really are NOT adequately informed).

[SkyValeey]

What if large players who don't want bitcoin to succeed are buying OTC bitcoin and dumping on exchanges to suppress the price?  They have the budget to keep the dumps happening and it shakes the faith many people have in the technology.

What if the price of Bitcoin was simply a bubble which is bursting right now ?

Didn't you know that? LOL 

[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.

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 ....

Yea, fractional reserve, manipulation, agendas, conspiracy from banks...... keep dreaming and losing your shit when the bubble is bursting, I really wonder what will be your response at the bottom.

You would be very thrilled to see bitcoin fail and also to see people suffer who invested into bitcoin... that is what makes you such a fuck face b/c you seem to derive so much pleasure off of occurrences that negatively affect regular people.. while you are prepared so with your " I told you so" ammunition.


tl; dr:  mmitech behaves like a fuckface.

[janos666]

...
I kept my coins because I figured I can mitigate the possible losses by some conservative margin trading (ride the big waves only but do ride those) and I can easily take the remaining risk because the potential is very high. But it's have the potential to get too hectic.

Fun activities, everyone!

I tried my best but I give up.