So, did we have a double top?
bulls will call it cup and handle, bears will call it double top
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 31163. (Read 26484220 times)
December 05, 2013, 04:41:31 AM
bulls will call it cup and handle, bears will call it double top
December 05, 2013, 04:41:26 AM
So the 96k dude is dumping on Stamp?
Here is the proof 6k chunk is missing...
https://blockchain.info/address/1CbR8da9YPZqXJJKm9ze1GYf67eKAUfXwP
December 05, 2013, 04:41:21 AM
China is saying it is is a commodity and not a currency they are are okay with that. Trade it, but don't use it to buy things.
December 05, 2013, 04:39:56 AM
Hold on a second:
Bloomberg Twitter - "BREAKING: China bans financial institutions from Bitcoin transactions"
Reuters - "China's central bank warned on Thursday that financial institutions should not trade the digital currency bitcoin, saying that while it does not yet pose a threat to China's financial system, it carries risks."
Uh, so... financial institutions banned, or warned?
Bloomberg Twitter - "BREAKING: China bans financial institutions from Bitcoin transactions"
Reuters - "China's central bank warned on Thursday that financial institutions should not trade the digital currency bitcoin, saying that while it does not yet pose a threat to China's financial system, it carries risks."
Uh, so... financial institutions banned, or warned?
December 05, 2013, 04:38:47 AM
So, did we have a double top?
December 05, 2013, 04:37:38 AM
Only CNY down. USD still holding strong.
December 05, 2013, 04:36:01 AM
So the 96k dude is dumping on Stamp?
December 05, 2013, 04:35:51 AM
this is what happens when the algos are reading the headlines....
If this was algo interpreted we'd have had a much more sudden reaction.
December 05, 2013, 04:35:27 AM
probably someone at reuters has a bunch of bids at 800 
It was Bloomberg that had the most sensational Twitter post. December 05, 2013, 04:34:56 AM
this is what happens when the algos are reading the headlines....
December 05, 2013, 04:34:41 AM
Was that it? Feels a little like a bottom.
SR dump was way scarier.
SR dump was way scarier.
December 05, 2013, 04:33:40 AM
The actual story: http://in.reuters.com/article/2013/12/05/china-bitcoin-idINDEE9B405S20131205?type=economicNews
The Chinese Gov "said however that ordinary individuals were free to use bitcoin, so long as they took on the risk themselves."
I guess that's not that grimm after all.
December 05, 2013, 04:33:24 AM
The actual story: http://in.reuters.com/article/2013/12/05/china-bitcoin-idINDEE9B405S20131205?type=economicNews
That's not a ban. This is a knee jerk reaction. probably someone at reuters has a bunch of bids at 800
December 05, 2013, 04:33:18 AM
Eh, this really doesn't seem like a big deal.
It will be portrayed as a huge deal though, to attempt to incite a panic. 
December 05, 2013, 04:32:41 AM
The actual story: http://in.reuters.com/article/2013/12/05/china-bitcoin-idINDEE9B405S20131205?type=economicNews
tldr version;
Not banning Bitcoin at all; Central bank recommending banks don't use it until risks are better understood. It's still fine for individuals etc.
December 05, 2013, 04:32:03 AM
Eh, this really doesn't seem like a big deal. China is cautioning financial institutions not to mess around with Bitcoin.
If China didn't like Bitcoin they'd have taken much stronger action.
Guess we get to find out where the support is though
If China didn't like Bitcoin they'd have taken much stronger action.
Guess we get to find out where the support is though
December 05, 2013, 04:29:30 AM
huge dumping @China
6000 BTC's sold at once
6000 BTC's sold at once
December 05, 2013, 04:28:27 AM
December 05, 2013, 04:27:37 AM
A bit bearish at the moment.
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