Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27821.

KFR

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Per ardua ad luna

Quote from: bobdude17 on May 07, 2014, 10:07:17 PM

Quote from: TERA on May 07, 2014, 09:22:57 PM

I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.

I would not wait for an increase in volume, I don't think it will ever come.
Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners.

There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders.

Nailed it.

bobdude17

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Quote from: TERA on May 07, 2014, 09:22:57 PM

I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.

I would not wait for an increase in volume, I don't think it will ever come.
Mt Gox ruined that trust, these exchanges are just too amatuer. Nobody feels comfortable putting large amounts of fiat/coins into them anymore. Large buyers and sellers will wait for institutional level exchanges, and in the meantime the buying will happen through Second Market, dark pools, and directly from miners.

There won't be an uptick in volume on Bitstamp, the stream of coins coming in for sale will slowly dwindle as the off chain buying increases. You will wait for large volume, but suddenly there will hardly be any coins for sale. Buying on Stamp-level exchanges will be for small fish and last-resort larger traders.

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

windjc

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Quote from: adamstgBit on May 07, 2014, 09:27:03 PM

Quote from: TERA on May 07, 2014, 09:22:57 PM

Quote from: adamstgBit on May 07, 2014, 09:21:09 PM

Quote from: TERA on May 07, 2014, 09:14:24 PM

Quote from: adamstgBit on May 07, 2014, 08:29:03 PM

bears please click here.

this has been a public service announcement

Hot newses are not going to do anything to the price trend. There needs to be volume and capitulation.

ya i'm sure everyone is going to capitulate soon, because price is low and that makes poeple want to capitulate

china banned bitcoin poeple sold for 6 months non stop, big deal, why the should i capitulate?

I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.

I have 2K waiting.

Well, you're going to have to wait another few days or a week or so, because the Chinese are short covering there asses off thanks to the lack of margin trading in a couple of days.

Basically, the exchanges are talking about becoming like local bitcoins and they can't buy fast enough the last 3 days.

adamstgBit

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Quote from: TERA on May 07, 2014, 09:22:57 PM

Quote from: adamstgBit on May 07, 2014, 09:21:09 PM

Quote from: TERA on May 07, 2014, 09:14:24 PM

Quote from: adamstgBit on May 07, 2014, 08:29:03 PM

bears please click here.

this has been a public service announcement

Hot newses are not going to do anything to the price trend. There needs to be volume and capitulation.

ya i'm sure everyone is going to capitulate soon, because price is low and that makes poeple want to capitulate

china banned bitcoin poeple sold for 6 months non stop, big deal, why the should i capitulate?

I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.

I have 2K waiting.

windjc

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Quote from: TERA on May 07, 2014, 09:22:57 PM

Quote from: adamstgBit on May 07, 2014, 09:21:09 PM

Quote from: TERA on May 07, 2014, 09:14:24 PM

Quote from: adamstgBit on May 07, 2014, 08:29:03 PM

bears please click here.

this has been a public service announcement

Hot newses are not going to do anything to the price trend. There needs to be volume and capitulation.

ya i'm sure everyone is going to capitulate soon, because price is low and that makes poeple want to capitulate

china banned bitcoin poeple sold for 6 months non stop, big deal, why the should i capitulate?

I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.

Adam knows this. Check out his OWN POSTS in the first 5 pages of this thread.

TERA

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Quote from: adamstgBit on May 07, 2014, 09:21:09 PM

Quote from: TERA on May 07, 2014, 09:14:24 PM

Quote from: adamstgBit on May 07, 2014, 08:29:03 PM

bears please click here.

this has been a public service announcement

Hot newses are not going to do anything to the price trend. There needs to be volume and capitulation.

ya i'm sure everyone is going to capitulate soon, because price is low and that makes poeple want to capitulate

china banned bitcoin poeple sold for 6 months non stop, big deal, why the should i capitulate?

I didn't say a word about China. This is strictly technical. The end of a trend needs to be marked with an increase in volume.

adamstgBit

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Quote from: TERA on May 07, 2014, 09:14:24 PM

Quote from: adamstgBit on May 07, 2014, 08:29:03 PM

bears please click here.

this has been a public service announcement

Hot newses are not going to do anything to the price trend. There needs to be volume and capitulation.

ya i'm sure everyone is going to capitulate soon, because price is low and that makes poeple want to capitulate

china banned bitcoin poeple sold for 6 months non stop, big deal, why the should i capitulate?

adamstgBit

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Quote from: Toxic2040 on May 07, 2014, 09:11:55 PM

Quote from: cech4204a on May 07, 2014, 05:27:22 PM

can someone explain me why BTC-e has lower price for proximately 10$ than Bitstamp or Huobi ?

/tinfoil hat on

I have wondered about this as well. The only answer I can come up with that makes any sense is arbitrage. There appears to be a group or groups doing extended arbitrage between BTC-e and Bitstamp/Huobi and who knows where else. I have watched this for several weeks now and it is just to consistent to be coincidence imo. In the scenario I envision these groups have a few hundred to a few thousand BTC and do this daily taking $2,000-$20,000 profits out in fiat. Even with just 200 coins it's 60k a month, not bad profit.

/tinfoil hat off Shocked

the arbitrage is there for anyone to take advantage of.

some poeple think price is lower there because they don't do AML ( is this even true? idk...) and so poeple that want to sell with no questions ask go there, providing more selling pressure.

TERA

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Quote from: adamstgBit on May 07, 2014, 08:29:03 PM

bears please click here.

this has been a public service announcement

Hot newses are not going to do anything to the price trend. There needs to be volume and capitulation.

Toxic2040

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Quote from: cech4204a on May 07, 2014, 05:27:22 PM

can someone explain me why BTC-e has lower price for proximately 10$ than Bitstamp or Huobi ?

/tinfoil hat on

I have wondered about this as well. The only answer I can come up with that makes any sense is arbitrage. There appears to be a group or groups doing extended arbitrage between BTC-e and Bitstamp/Huobi and who knows where else. I have watched this for several weeks now and it is just to consistent to be coincidence imo. In the scenario I envision these groups have a few hundred to a few thousand BTC and do this daily taking $2,000-$20,000 profits out in fiat. Even with just 200 coins it's 60k a month, not bad profit.

/tinfoil hat off Shocked

Bitcoin_is_here_to_stay

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Quote from: thezerg on May 07, 2014, 03:12:36 PM

Quote from: windjc on May 07, 2014, 02:42:33 PM

I don't think we are dumping today. This impulse up was too sharp in my opinion. I think we test the highs of last week before selling off again.

Honestly, what's going on with these Chinese exchanges is beyond me at this point. I assume the rise is based on short covering. But no rise can sustain for too long, not with NO money coming into the exchanges.

But for today we are probably going to see more up before we see more down.

Bitfinex shorts are actually pretty high right now at 9.5k BTC... so on average ppl are taking not covering. Longs are moderately high at 16.8M USD.

Where can I find the current info on sum of longs and shorts on Finex?

ChartBuddy

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adamstgBit

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Quote from: ShroomsKit on May 07, 2014, 08:31:49 PM

Quote from: Blue on May 07, 2014, 08:17:58 PM

someone tell the Huobi pumpers they need to go to work again, price is dropping

It's called a pump and dump. This is the dump.
You didn't expect anything else i hope.

I expect the next 24 hours to bring 437.5 low, 468 high, 455 close

with 15K volume on stamps

Krabby

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https://primedao.eth.link/#/

Quote from: adamstgBit on May 07, 2014, 08:29:03 PM

bears please click here.

this has been a public service announcement

Wish you showed that to me when it was first posted.

ShroomsKit

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Quote from: Blue on May 07, 2014, 08:17:58 PM

someone tell the Huobi pumpers they need to go to work again, price is dropping

It's called a pump and dump. This is the dump.
You didn't expect anything else i hope.

adamstgBit

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bears please click here.

this has been a public service announcement

Blue

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someone tell the Huobi pumpers they need to go to work again, price is dropping

adamstgBit

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Quote from: bitcoinsrus on May 07, 2014, 07:55:02 PM

Quote from: TERA on May 07, 2014, 07:53:00 PM

egg rolls anyone?

i dont get it.

shmadz

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@theshmadz

that is the long term bottom line that I see. (CAD/BTC)

I have no idea if it will be final support, if it may be broken? (but I don't think so)

anyways, I think each of you are on an exchange that shows a similar support level. when prices drop to that level, I buy, otherwise, I wait.

if this is the end of low prices, so be it. it's not the end of the world.

if prices smash down through this bottom line, so be it, it's not the end of the world...

everybody just relax and remember that we are all one.

https://www.youtube.com/watch?v=zaGUr6wzyT8

:edit 2 to fix chart for better lines:

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27821. (Read 26710157 times)