Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26207. (Read 26711754 times)

Explanation

the correct thing to do is follow my suggestions

everyone is so bearish...

agreed

We can see $450 easily.

everyone on this thread keep waring everyone else to stay away from gox for months, after bitpay stopped using it, it was becoming crystal clear, and it spiraled down from there.

China can ban bitcoin again, not sure what that will do....

time will indeed tell.

Gox was failing before the ATH. A China syndrome might STILL play out and as a matter of fact it might be the cause of the next crash. Gox was giving us warning signs for months if not years. News from China could be seen similarly. I'm not trying to scare anyone. These are simply risks that should be weighted with your estimate of how probable they are. 

$490 may indeed be a crazy good buy, but the price was $443 just three days ago. Time will tell.

Explanation

I buy through Coinbase too, but only if I am full BTC in my trading account. That is a bad, unbalanced position to be in and I took a loss just to get back in the game. I might have just waited longer and saved some money, but I only work in probabilities, not certainty. For day trading, CB is unworkable. You need a large exchange with lots of liquidity like bfx or Stamp. I am talking my book, but I'm honest about it. I want the price to go down so I can get more coins. a crazy crash like the one on BTC-e aa few days ago to $309 is not out of the question. Unfortunately,  I no longer have enough cash to place meaningful orders down to $1 like I once did. This is Bitcoin, the only thing steeper than the spikes and crashes is the learning curve. 

might be waiting a while, even 490 would be a crazy good buy.

price was 600-700 when the us senate meeting happened. and so much has happened since news wise. china ban didn't kill it, mtgox didn't kill it.

hard to understand why price wouldn't come back to these levels soon.

Well hopefully you are gaining back some of your trading stack and NOT just making things up!!!!!   

To me, it seems fairly risky to be trading, unless you happen to be a whale... and really talking your book can be quite irritating, even though quite a few posters do some variation of such.... in order to get people to follow their lead. 

I am thinking that we may see $480 or $490 in the next 12 hours... but sometimes those kinds of prices only last a short period, and I am NOT really set up for automatic buys, since I continue to buy my BTC through Coinbase....

NOW, I recall that you were a little bit amorphous about revealing some details of your trading stash... but I believe that your trading stash represented less than 10% of your total BTC stash?  Or have you changed your parameters? 

Also, I believe you had said that your average cost per BTC was in the less than $40 per BTC arena.. Is that still true, or have those calculations changed?

And another question is whether you trade with leverage or NOT... on the terms of the exchanges... I suppose that is where there remains greater possibilities in shorting, if you can do it correctly.  I get the sense that you do trade with leverage, and possibly you would NOT need to engage in that practice if you have a decent stash of your own coins.  The leverage game is stacked in favor of the house; however, if you are dealing with your own stash of cheap coins, then you could be in a fairly decent position to increase your BTC, also.... 

For me, personally, I would only feel comfortable trading on the very large swings in BTC prices, and currently, I consider anything below $700 or $800 to be well below the BTC price trendline (which has been true for more than 6 months), so I am way too nervous to sell... on the other hand, I may become a little more comfortable to sell some, if the price goes up... and even better if it goes above the trendline and even better if I experience at least one BTC bubble during my BTC investment experiences (been in the game for almost 9 months, and NO baby yet... to take from Risto... fuck!!!!!!.. ) ... anyhow:  probably I would be trading with well less than 10% of my stash, unless I feel pretty certain about a downward correction in price or if some other market conditions were to exist.

Yes, but I have bids all the way down into the $300s. A double bottom would be the most bullish development for the long term. I don't know if it's going up or down. All I know is that I have too much fiat and not enough coins.

slipping below trigger.

lunar launch, delayed, such depressing news.

you got bids in the 490-500 range?

bfx doesn't control the market. Stamp and China do. It looks like a bunch of horny guys on paycheck Friday looking for someone to fuck. Most go home and wank off. Look and the Stamp order book and it'll tell you the Lunar launch may be delayed or cancelled.

It's working out so far. Got ~40% of my trading stack back and I'm still sitting on a pile of cash just waiting for cheaper coinz. 

the incoming crash!

the ask side might as well not even be displayed its nothing compared to the dumps and sells we see min to min

And again, but with smaller sells

BFX looks so bullish if you go by depth.. I just dont trust it