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Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 21099. (Read 26710773 times)
August 09, 2015, 01:02:21 AM
August 09, 2015, 12:22:25 AM
erected
August 09, 2015, 12:19:32 AM
Sideways or down... is my guess.
Upside is gonna be in a little while longer... I think a buy now would require some Hodl. Yet I'd not wanna wait for the surge so a bid on the current price is my move... i'm ready for some hodl.
I knew this drop was coming and I think testing the bottom limit is too risky. I'd be very surprised to see 250 give way... we've already had three waves of decline. There isn't any significantly bad news to push it down much farther. This drop is simply do to the unfulfilled promises of the 300+ BTC.
I think people suggesting lower than 250 should have a very good reason.
I see sideways as the foreseeable future. Then back up.
Upside is gonna be in a little while longer... I think a buy now would require some Hodl. Yet I'd not wanna wait for the surge so a bid on the current price is my move... i'm ready for some hodl.
I knew this drop was coming and I think testing the bottom limit is too risky. I'd be very surprised to see 250 give way... we've already had three waves of decline. There isn't any significantly bad news to push it down much farther. This drop is simply do to the unfulfilled promises of the 300+ BTC.
I think people suggesting lower than 250 should have a very good reason.
I see sideways as the foreseeable future. Then back up.
"Sideways all summer"
We've been trading in a wide band between 220 and 300 roughly for several months now. Patel had targeted 250 before another test of resistance at 300, and it's totally plausible.
Personally, I hope we continue within this range of consolidation as long as possible. High probability it lasts at least until the end of the month, medium possibility we could stay in this range till the end of the year, maybe until early next summer. VERY low possibility that we are still in this range by the time the next American puppet, err, president gets selected, err, elected.
August 09, 2015, 12:09:54 AM
totally awesome of bitfinex to refuse to file a $5000 NY bitlicense thus cutting off all people in the finance capital of fucking america and instigating +/-$300,000,000 in btc market devaluation
Gemini is coming. 
August 09, 2015, 12:02:55 AM
Sideways or down... is my guess.
Upside is gonna be in a little while longer... I think a buy now would require some Hodl. Yet I'd not wanna wait for the surge so a bid on the current price is my move... i'm ready for some hodl.
I knew this drop was coming and I think testing the bottom limit is too risky. I'd be very surprised to see 250 give way... we've already had three waves of decline. There isn't any significantly bad news to push it down much farther. This drop is simply do to the unfulfilled promises of the 300+ BTC.
I think people suggesting lower than 250 should have a very good reason.
I see sideways as the foreseeable future. Then back up.
Upside is gonna be in a little while longer... I think a buy now would require some Hodl. Yet I'd not wanna wait for the surge so a bid on the current price is my move... i'm ready for some hodl.
I knew this drop was coming and I think testing the bottom limit is too risky. I'd be very surprised to see 250 give way... we've already had three waves of decline. There isn't any significantly bad news to push it down much farther. This drop is simply do to the unfulfilled promises of the 300+ BTC.
I think people suggesting lower than 250 should have a very good reason.
I see sideways as the foreseeable future. Then back up.
August 09, 2015, 12:02:22 AM
August 08, 2015, 11:12:40 PM
It's bizarre how there's no bounce at all. Hit like a sack of seed.
Because people are expecting 245-255$ as a bottom, but i would rather be concerned about 30.300.000$ of longs which havent decreased at all which means that we might see a cascade margin calls pretty soon if btc falls below 250$. Something really fishy is going on. Btw finex started this quick dump, not goxobi/okgox as they usually do it .
That's why I like to keep my leveraged longs with a liquidation price below $100. I think a long squeeze is a very low risk. For example I as a long term bull keep most of my BTC in cold storage.Too many of us are hoping for a long squeeze so we can break those dusty old coins out and use them for leverage to double down. That and some Big Money that is waiting for low prices.
Yeah, BFX leads the exchange pack now.
August 08, 2015, 11:02:24 PM
August 08, 2015, 10:50:09 PM
totally awesome of bitfinex to refuse to file a $5000 NY bitlicense thus cutting off all people in the finance capital of fucking america and instigating +/-$300,000,000 in btc market devaluation
August 08, 2015, 10:31:28 PM
It's bizarre how there's no bounce at all. Hit like a sack of seed.
Because people are expecting 245-255$ as a bottom, but i would rather be concerned about 30.300.000$ of longs which havent decreased at all which means that we might see a cascade margin calls pretty soon if btc falls below 250$. Something really fishy is going on. Btw finex started this quick dump, not goxobi/okgox as they usually do it .
August 08, 2015, 10:29:07 PM
250s coming? 
I dunno, but the traders who shorted 3K BTC on BFX gotta be starting to sweat a little bit.
August 08, 2015, 10:20:10 PM
250s coming?
August 08, 2015, 10:12:02 PM
It's bizarre how there's no bounce at all. Hit like a sack of seed.
People are hesitant. Volume will only follow due to the FOMO if we go up 5-10 points. Maybe. We will see.
August 08, 2015, 10:02:23 PM
August 08, 2015, 09:46:22 PM
It's bizarre how there's no bounce at all. Hit like a sack of seed.
August 08, 2015, 09:21:58 PM
Is this crash due to all New York customers cashing out due to being dropped by every exchange because of bit license deadline?
bitlicense could very well be a reason here...
Could be. Some people have only bitcoin on exchanges, and don't know what to do when they are ordered to remove the BTC, except sell them. It seems they (finex) are about to sell off the remaining BTC balances for NY residents after the limit of 4:00 pm EDT on August 15, 2015.
https://www.bitfinex.com/pages/announcements
August 08, 2015, 09:16:26 PM
Is this crash due to all New York customers cashing out due to being dropped by every exchange because of bit license deadline?
bitlicense could very well be a reason here...
Could be. Some people have only bitcoin on exchanges, and don't know what to do when they are ordered to remove the BTC, except sell them. It seems they (finex) are about to sell off the remaining BTC balances for NY residents after the limit of 4:00 pm EDT on August 15, 2015.
https://www.bitfinex.com/pages/announcements
August 08, 2015, 09:02:24 PM
August 08, 2015, 08:58:59 PM
Is this crash due to all New York customers cashing out due to being dropped by every exchange because of bit license deadline?
bitlicense could very well be a reason here...
Does bitstamp still service NY? Coinbase certainly does.
Edit: Does BTC-e care?
August 08, 2015, 08:53:50 PM
Is this crash due to all New York customers cashing out due to being dropped by every exchange because of bit license deadline?
bitlicense could very well be a reason here...
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