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

[Chuckee]

WHY IS IT STILL GOING UP???!?!?

do not buy into any false recoveries. this must be the bull trap before final capitulation!

[Torque]

you guys think  this the start to a new bubble?

Would have to dig out of trench around $480 first, then eventually move up on rising volume to get past $510 resistance.  At that point I would confidently say we've started a new uptrend.

Until then, no.

[Richy_T]

A few minutes before the rally started nearly all the bids on Bitstamp down to 360 were removed within in a second. Also quite a lot of asks were removed, but far less than bids. I switched over to the trading PC and by then everything was back to normal. Did anyone else catch that? I wonder what that was all about, there were literally only a few dozen coins worth of bids down to 360, basically just a long flat green line (on bitcoinity.org). A bug maybe? But would be a weird coincidence because it happened right before that rally.

About the rally itself: I kinda feel that this was orchestrated by a single entity, probably in order to induce a short squeeze. I doubt very much that this was "organic" buying by people who suddenly all decided to buy in unison. Or maybe I'm wrong and it was caused by a bunch of people buying because of the paypal news, but I doubt it...

I followed the rally early on and decided @ about $415 that someone was trying to squeeze those 11000 shorts out. So I went "picking up pennies in front of the steamroller" - I bought into the askwalls, then set up my own askwalls at a slighty higher price. Worked out well, but I would have been in trouble if the price had reversed suddenly. Bids were very thin, so I wouldn't have been able to sell the coins back at the price I bought them at. Was probably not a good idea, even though I made some profit.

Edit: I'm still all in fiat, and comfortably so. Still bearish in the midterm, and think that the paypal news is overvalued (although it's certainly good news, for the long term).

Chartbuddy didn't catch it so it would have to have been less than a minute.

[blade87]

China wakes up in 4-5 hours.  

love this lol

 

Next up. China bans Paypal?

[btcisreal]

Hahahahahaha I keep laughing at the loser trying to dump down the price the whole time. Try harder bitch

[bassclef]

Maybe insider knowledge of Sonny's capital flight.

[Post-Cosmic]

About the rally itself: I kinda feel that this was orchestrated by a single entity, probably in order to induce a short squeeze. I doubt very much that this was "organic" buying by people who suddenly all decided to buy in unison. Or maybe I'm wrong and it was caused by a bunch of people buying because of the paypal news, but I doubt it...

 Indeed, that was definitely 1 entity, aka inorganic. Doesn't definitely preclude any final short-term outcome towards bullish or bearish however - there's more variables that need to play out yet.

you guys think  this the start to a new bubble?

Would have to dig out of trench around $480 first, then eventually move up on growing volume to get past $510 resistance.  At that point I would confidently say we've started a new uptrend.

Until then, no.

 +2

[ Obvious Booktalk ]

 

[klee]

Maybe insider knowledge of Sonny's capital flight.

How much does he have?

[EuroTrash]

Hmmm i bought a 1 BTC in bitstamp it says they taake 0,50% it should be 0,995BTC but i got 0,99092838 BTC... WTF : /

Your buy has probably been split in a certain amount of smaller buy orders to match the available asks. The fee for each one of them has been rounded up to dollar cents.

[Meuh6879]

WHY IS IT STILL GOING UP???!?!?

because wallet in exchange are empty ... 

[JayJuanGee]

I'm seeing strong buy signals still, bit I'm not ready to pop the champagne yet.

Too many dumpers.
Biggest news this year -> dump the shit out of the market and put up massive ask walls so the price won't go up.

NO matter what, SHROOMIE will find a reason to complain.   

[degold]

Is this spike because of Paypal announcement with bitpay and other exchanges.

[bassclef]

Maybe insider knowledge of Sonny's capital flight.

How much does he have?

BFL has been selling/scamming customers for over a year. I would guess millions but who knows how spread out his assets are. He's been hiding money from the feds for like 20 years so he obviously knows a few tricks.

[fonzie]

It looks like there was more money on Stamp than shown in the orderbook  

Edit: Shorters you can easily cover your red positions if you add MOAR shorts, as this is def. a bulltrap and we´re heading to 200$ in the next days. Easy money!

[degold]

I think we'll see 500 soon.

Yes, we will surely going to see 500 soon.

[klee]

Maybe insider knowledge of Sonny's capital flight.

How much does he have?

BFL has been selling/scamming customers for over a year. I would guess millions but who knows how spread out his assets are. He's been hiding money from the feds for like 20 years so he obviously knows a few tricks.

Let's hope he is not as rookie as Ross and he hides them good - I can't stand another auction drama...

On the other hand thousands of BTC 'lost' is very bullish news

[criptix]

this is a interesting article about gabi:

http://www.futuresmag.com/2014/09/22/bitcoin-fund-launches

Jean-Marie Mognetti, Director and partner at GAJL added: “In addition to digitalBTC, GAJL also established relationships, based on trust and transparency with a limited number of exchanges.  These exchanges - Bitfinex (Hong Kong) - Coinsetter (New York, USA) - have been approved by GABI's compliance department following an extensive due diligence process to make sure they fall within the operational limits imposed by our local regulator.”

what do you guys think? is it correct to assume they can/will buy directly on bitfinex?

is there a corrolation to the bid walls on bitfinex?

[freedomno1]

Nice price recovery I feel revival in the air
Also only sold a smidge in the peak fear so good for me 

[fonzie]

I can see a nice spike on Finex to 520 in the next 6-12h 

[keithers]

It is looking like $450 is the resistance level that we need to crack to keep our momentum rolling... let's go!!!