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

[bad trader]

waiting for a price drop... 

why?

I think  because he want to buy more bitcoin.

I think he doesn't want to buy less bitcoin.

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[Globb0]

He doesn't want to not buy bitcoin at a lower price

[shmadz]

I think you have to be a bot to believe in this rally.

The bots might have been onto something. I didn't name myself “bad trader” because I outperform a Chinese TA bot.

The bots run the show.

The question is who runs the bots?

[shmadz]

Just to be clear, I'm not saying it won't drop from here, which in itself is probably a bullish indicator.

A bullrun on fiat? yyAy!

I closed my short on the way up from 350 to 360 in a hoped to reopen it above 370 but I am starting to "panic".

I just trust the market to move against me whatever I choose to do.

Prudent advice. Always consider the worst case scenario.

[spooderman]

teh nxt critical r nineteen pages.

[octaft]

teh nxt critical r nineteen pages.

Calling it: another post dump at 9997.

[spooderman]

We've had two higher lows since 275. Anyone else feel the trend has reversed but it's just doing so gradually?

[Tzupy]

If the market will stay into oversold zone, it's possible to drop below 340$ tomorrow.

Market slowly moving above oversold, but could still drop again. I'm waiting for 12h PSAR flip as indicator of short-term trend reversal.

12h PSAR hasn't flipped yet, but 6h did, so very-short-term going up.

Dumps in China, why?

[JorgeStolfi]

The market will not move much until the 50000 FBI coins have been sold.

then it will go up just like the last time when it was 30000 for sale

No, these coin will be sold out the exchange .. so the price will not be affected "too much".

I still think that the price dropped in June, just after the previous auction announcement, because traders feared that the coins would end up on the exchanges; and recovered, the day after the auction, because the outcome reassured them that the coins would stay off the market, and (so people thought) they had been bought at a premium.

So the price may or may not recover this time, depending on what the outcome will be.  Note that people bid at auctions not to get coins at any cost, but to get coins at a good price.  If someone wants 10'000 coins, and he can get them off exchange for 300$/BTC, it makes no sense to bid for more than 300$/BTC, even if he expects that there may be higher bids.

[ChartBuddy]

Explanation

[janos666]

We've had two higher lows since 275. Anyone else feel the trend has reversed but it's just doing so gradually?

I did. But then again, the opinion of the majority is more important.



I made a perfectly neutral trade today. I closed and reopened my short higher enough so the difference can pay for the exchange fee (-> I tipped Bitfinex with somebody's money).

[JimboToronto]

We've had two higher lows since 275. Anyone else feel the trend has reversed but it's just doing so gradually?

Yes. I posted to that effect sometime last week.

At that time it was 380 after going 275-418-318-450-370.

370 didn't last long. Let's just see if 342 holds.

[FUR11]

At this moment it could again go either way. I'm totally not  convinced that we're about to enter a bull-market, but if we really don't go down any further, we might see a weird but bullish consolidation. Just like after every bubble-low essentially!

[bad trader]

Just to be clear, I'm not saying it won't drop from here, which in itself is probably a bullish indicator.

A bullrun on fiat? yyAy!

I closed my short on the way up from 350 to 360 in a hoped to reopen it above 370 but I am starting to "panic".

I just trust the market to move against me whatever I choose to do.

Prudent advice. Always consider the worst case scenario.

With my trading skills thinking about worst case scenarios tends to lead into buying at the top and selling at the bottom.

Just stay patient and hope for the best seems like better advice. Some random swing will meet your bids/asks eventually. Maybe.

[octaft]

Note that people bid at auctions not to get coins at any cost, but to get coins at a good price.  If someone wants 10'000 coins, and he can get them off exchange for 300$/BTC, it makes no sense to bid for more than 300$/BTC, even if he expects that there may be higher bids.

Well you avoid slippage, and I imagine it would be less of a pain in the ass to buy them at the auction than it would be to trust these random exchanges with all that money and wait for bids to fill. I imagine that would make it so bids close to market would be feasible. Not so sure about bids that are slightly higher than market, and I'd say bids significantly higher than market probably should not be expected.

[bad trader]

Dumps in China, why?

Someone touched a trendline.



Or maybe someone knew the lower lines would catch it and shorted.

[BlindMayorBitcorn]

Nice. Up 3.3%/24 hrs.

It's called a pump. After that comes the dump.

When you're right you're right

[noobtrader]

waiting for a price drop... 

why?

I think  because he want to buy more bitcoin.

I think he doesn't want to buy less bitcoin.

yay i make bitcoin more than mining, just by trading bahahahahaha

[NotLambchop]

Good morning Bitcoin warriors!  How goes the battle?
Has the rotting world of fiat collapsed under the weight of unsustainable debt yet?
Party tiem?

[EFS]

teh nxt critical r nineteen pages.

Calling it: another post dump at 9997.

It's expected by many.