Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28694.

Broseph Stalin

member

Activity: 65

Merit: 10

Quote from: ?? on ??

Wow, sentiment really sucks on here ... this wedge feels like it is close to resolving, must be a good time to buy?

Soon.. my bids have been sitting at $446 and down for some time now (check my previous posts).
I won't be using up all my fiat on those bids though, just in case we pass $380 and go deeper.. 'cause if we do, all bets are off. We'd be in a bear market then.

chessnut

legendary

Activity: 924

Merit: 1001

Bitstamp is tanking it harder than Huobi..... i think that means the drive is not fundamental.

Davyd05

hero member

Activity: 574

Merit: 500

did someone say there are cheap coins Cheesy

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

chessnut

legendary

Activity: 924

Merit: 1001

aye, 3200 is a tough nut to crack.

TERA

hero member

Activity: 728

Merit: 500

Quote from: koryu on March 28, 2014, 02:39:53 AM

Quote from: windjc on March 28, 2014, 02:38:24 AM

Quote from: koryu on March 28, 2014, 02:36:33 AM

what confuses me is, that the volume specially on chinese exchange was bit low for a bottom.

anyway some of my bids triggered, on ltc i hit the "bottom" exactly

and also could grab some cheap btcs. and now? i think its too risky to sell and hope for cheaper prices.

Right the volume is low in China too. The volume was higher on the fall to 3060 than the fall to 2800.

Does not feel like a bottom to me.

yes thats what i mean, on bitstamp and btc-e the volume was higher on fall to 466 than on fall to 505 but on chinese exchanges it wasnt

This is the difference between an exchange that is dying and an exchange where the price is simply falling. People who sell their bitcoins on Huobi are withdrawing CNY as fast as possible rather than staying around to rebuy. Over time, the volume at Huobi will become less and less and volume will shift into bitstamp, bfx, and btce until they have enough volume to support the price on their own. Today, the volume on stamp is 56,000BTC which isn't nearly enough for a bounce when the last crash (gox) WITH China had 140,000BTC volume, and it'll probably need to be even greater than that, such as 200,000BTC volume.

koryu

hero member

Activity: 681

Merit: 507

Quote from: windjc on March 28, 2014, 02:38:24 AM

Quote from: koryu on March 28, 2014, 02:36:33 AM

what confuses me is, that the volume specially on chinese exchange was bit low for a bottom.

anyway some of my bids triggered, on ltc i hit the "bottom" exactly

and also could grab some cheap btcs. and now? i think its too risky to sell and hope for cheaper prices.

Right the volume is low in China too. The volume was higher on the fall to 3060 than the fall to 2800.

Does not feel like a bottom to me.

yes thats what i mean, on bitstamp and btc-e the volume was higher on fall to 466 than on fall to 505 but on chinese exchanges it wasnt

windjc

legendary

Activity: 2156

Merit: 1070

Quote from: koryu on March 28, 2014, 02:36:33 AM

what confuses me is, that the volume specially on chinese exchange was bit low for a bottom.

anyway some of my bids triggered, on ltc i hit the "bottom" exactly

and also could grab some cheap btcs. and now? i think its too risky to sell and hope for cheaper prices.

Right the volume is low in China too. The volume was higher on the fall to 3060 than the fall to 2800.

Does not feel like a bottom to me.

koryu

hero member

Activity: 681

Merit: 507

what confuses me is, that the volume specially on chinese exchange was bit low for a bottom.

anyway some of my bids triggered, on ltc i hit the "bottom" exactly

and also could grab some cheap btcs. and now? i think its too risky to sell and hope for cheaper prices.

GameStarter

full member

Activity: 214

Merit: 100

2K coins to go to 466$ on Stamp, pretty scary.

chessnut

legendary

Activity: 924

Merit: 1001

Quote from: windjc on March 28, 2014, 02:13:59 AM

Quote from: TERA on March 28, 2014, 01:59:33 AM

Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.

465-475 was a BIG support level with the 300 EMA. But this bounce is on small volume. Everyone of the bounces lately have been enemic. The bears gave the bulls every chance in the world to breach $620. And the bulls didn't even try.

Meanwhile, the bears got bored and dropped us 20% on "rumors". If and when those rumors get confirmed on the exchanges I don't see the bulls putting up a fight until $400ish. I could be wrong, but the buyers are just not around right now.

question; do bulls buy or do bears buy?

If I was a bull and wanted to buy, I wouldnt pay 620 even if I was offered the chance, because I could buy at market price of 520. bulls and bears are mythical creatures. more often than not, bears buy, and bulls sell. Bears fight for lower prices, Bulls fight for higher prices.

The person who drives the price to 620 will do so not out of choice.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Both drop and bounce were on pretty low volume, I didn't see lot of wish to sell below 500 last night too, not more than 5-6k coins were sold below $500 on Bitstamp.

But if China news are confirmed true than we'll surely visit that again, specially if bounce is blocked at these levels. I guess 400$ will hold, we'll see. I'd be happy to buy at 400$ even if it doesn't, it would bounce there fast.

If China news is proved false than we might have seen bottom and are close to trend reversal.

TERA

hero member

Activity: 728

Merit: 500

Quote from: windjc on March 28, 2014, 02:13:59 AM

Quote from: TERA on March 28, 2014, 01:59:33 AM

Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.

465-475 was a BIG support level with the 300 EMA. But this bounce is on small volume. Everyone of the bounces lately have been enemic. The bears gave the bulls every chance in the world to breach $620. And the bulls didn't even try.

Meanwhile, the bears got bored and dropped us 20% on "rumors". If and when those rumors get confirmed on the exchanges I don't see the bulls putting up a fight until $400ish. I could be wrong, but the buyers are just not around right now.

And look at emptystamp!

seriouscoin

hero member

Activity: 658

Merit: 500

Quote from: windjc on March 28, 2014, 02:13:59 AM

Quote from: TERA on March 28, 2014, 01:59:33 AM

Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.

465-475 was a BIG support level with the 300 EMA. But this bounce is on small volume. Everyone of the bounces lately have been enemic. The bears gave the bulls every chance in the world to breach $620. And the bulls didn't even try.

Meanwhile, the bears got bored and dropped us 20% on "rumors". If and when those rumors get confirmed on the exchanges I don't see the bulls putting up a fight until $400ish. I could be wrong, but the buyers are just not around right now.

Well less ppl leaving funds in exchanges after the MtGox fiasco, plus traditional bank wiring is too slow.

Meanwhile, moving btc is almost instant.

windjc

legendary

Activity: 2156

Merit: 1070

Quote from: TERA on March 28, 2014, 01:59:33 AM

Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.

465-475 was a BIG support level with the 300 EMA. But this bounce is on small volume. Everyone of the bounces lately have been enemic. The bears gave the bulls every chance in the world to breach $620. And the bulls didn't even try.

Meanwhile, the bears got bored and dropped us 20% on "rumors". If and when those rumors get confirmed on the exchanges I don't see the bulls putting up a fight until $400ish. I could be wrong, but the buyers are just not around right now.

chessnut

legendary

Activity: 924

Merit: 1001

yup lots of big orders I saw around that level. but it needs time to tell. Though I think this does mean that the wall that was placed there many hours ago is gone. maybe sold to market.

TERA

hero member

Activity: 728

Merit: 500

Looks like 3200 was a trap. You could see there was too much resistance and it expended most of the volume from the previous spike before it even got there.

chessnut

legendary

Activity: 924

Merit: 1001

Quote from: cAPSLOCK on March 28, 2014, 01:55:57 AM

Quote from: cAPSLOCK on March 28, 2014, 01:21:30 AM

Quote from: chessnut on March 28, 2014, 12:44:04 AM

HOLLAR OUT TO ELLIOT WAVE ANALYSTS

y'all see a five wave decline terminated and a five wave rally on the smaller fractal (5min chart)? the volume makes perfect sense, all fourth waves are wedges, all fractals in tact. the next rally will either be a 3 or a five. the implications are critical. If panic has truly been resolved, the next rally will swiftly pass 540 and maybe 560.

3200 is critical on Huobi. if we break that level, it is highly bullish.

Well here comes try #1.

*Bink*

Big order at this level on stamp. (relatively)

cAPSLOCK

legendary

Activity: 3766

Merit: 5146

Note the unconventional cAPITALIZATION!

Quote from: cAPSLOCK on March 28, 2014, 01:21:30 AM

Quote from: chessnut on March 28, 2014, 12:44:04 AM

HOLLAR OUT TO ELLIOT WAVE ANALYSTS

y'all see a five wave decline terminated and a five wave rally on the smaller fractal (5min chart)? the volume makes perfect sense, all fourth waves are wedges, all fractals in tact. the next rally will either be a 3 or a five. the implications are critical. If panic has truly been resolved, the next rally will swiftly pass 540 and maybe 560.

3200 is critical on Huobi. if we break that level, it is highly bullish.

Well here comes try #1.

*Bink*

TERA

hero member

Activity: 728

Merit: 500

Quote from: FullLife on March 28, 2014, 01:47:44 AM

Quote from: TERA on March 28, 2014, 01:37:14 AM

Anyone else watch this just for entertainment?

That depends, what am I looking at?

LTC/CNY on okcoin, where supposedly half of all litecoins are traded daily.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28694. (Read 26709375 times)