He is using my nick

Can you please post the link where BFX short and long volume can be seen?

What do you mean by "Bitstamp posted"? Where?

Huobi has been certainly acting crazy today

Hmm, I get opposite impression - very similar price pattern, but even lower volume than in March.

BTC-e already in $4xx, looks like other will follow - sooner or later.

Sarcasm? My unprofessional opinion was just based on the lack of buyers' enthusiasm - and sellers' nervousness. Although $500 is an important psychological barrier, so may take a while.

Do you know what happens if they loose coins due to hacking? Do they have limited liability? How do they compare with coinbase?

Lol - looks like it is just you and the chart buddy. Actually, it is pretty telling sentiment indicator

yeah, at the moment it is like lethargic side-away movement. Seems we're done bouncing - at least for a while.

and now the rain weeps over his halls and not a soul to hear

http://www.youtube.com/watch?v=-FF2fBRKxtk

Exactly. The reason I am not buying is the lack of willing buyers. At least there is no convincing evidence there is enough to support higher prices.

I am most puzzled by rally on Huobi. I was thinking even earlier that some may actually buy bitcoin as a "last chance", but speculators joining this rally when their government made sure there will be no new money coming? or at least much less than before? Rather puzzling ...


EDIT: Huobi whipsaws, lol
 

I agree that it does look strange. Can it be rather primitive trading bot? Triggered at certain levels?

Huobi acting completely crazy atm! Looks like whoever was pumping, mostly lost the money ...

Atm, we have huge moves on Huobi in opposite directions - looks like some (rogue?) bots to me

Lol, I could ddefinitely used some explanations of the "overall situation"

Yeah, that would make more sense.

I am also watching with curiosity - do you think we will see another desperate pump @3200?

Last couple days there was more and more fiat on Bitstamp - bid side always exceeded 10M, with ask in 14-15M. Last couple hours, bid side is 9M, with ask side 16M. Ratio is also worse in terms of bitcoins.

What is CCMF?

LOL, thanks, would have never guessed that And even Uncle Google was not helpful.

Was a nice rally while it lasted

What do you mean by "drawing a line" - consolidation?

Does not look rally part II to me - more like dump part II ...

below 3000 on huobi

On one hand it is reassuring SM is buying - on the other hand they have a record of buying at the worst moments. This is passively managed fund, individual retail investors decide when to buy  

$480-$490 support broken on huge volume, no more illusions where we are heading

2884 - previous low - passed on huobi without any resistance

This

bitfinex shows that there is still more leveraged longs than shorts - wonder if they will be squeezed any time soon?

you buying? another saying is to never attempt to catch a falling knife ...

I tried it - painful   And less profitable than patiently waiting for trend confirmation  

Wow, for many days BTC price when I woke up was within $3 range of what it was when I went to bed, or even exactly the same last couple of days. Today is certainly different ..

How the perspective can change in just 2 days:
 

I understand that withdrawing BTC from Huobi and such is still possible? If so, I do not believe we can have Gox-style decoupling - arbitrage, a.k.a. dumping Chinese coins on Bitsamp and such is still possible. It was complete inability to withdraw anything from Gox that coused its prices to decouple.

All the way. Arbitrageurs will make sure

But the price keep falling  I think leveraged longs may be squeezed soon, depending on their entry point.

Exactly. This is also how I understand the Bitfinex data. Btw, being leveraged long now puzzles me 

That may be one reason why Chinese bears are dumping now - perhaps hoping to buy back at much lower price?

EDIT: anyway, for transaction to occur, we need a buyer - and CNY on Huobi . So far the volume there is still nominally high, if true.

I have had this problem most of the time today, but now it is OK.

So where do you guys think are current support and resistance levels?

TA threads seem dead on this forum now

Thanks, but I was thinking more short term. I mean, what is a price level below $500, that if we are above it, we can become optimistic again? $460? $480? On the downside, going back into $300s would obviously be a bad sign. Any support in-between except $425?

+1 Same goes for 200,000 Gox BTCs to be liquidated.

And US goverment has now more than  500,000 BTC ?!? 30+k from Silk Road, 130+ personal Ullbricht stash plus 385k from this new drug dealer?

I was not saying anything about future repercussions - just begin to absorb the fact.

US goverment is in the possession of more than 5% world supply of bitcoins   Surprising. Scary. Not was bitcoin was suppossed to be ...

Perhaps that is why fed were so surprisingly friendly toward BTC? At least until they will sell?

another pump and dump on Stamp?

This even rhymes

The price rises nicely and steadily, but Bitfinex sentiment Index suddenly turned bearish (it has been bullish almost all the time)

https://www.bitfinex.com/pages/stats

what do you guys think? Why be more bearish now than yesterday or two days ago? I was actually becoming optimistic about this recent price raise. Are we for some nasty surprise?

Exactly, I just commented about it. Seem surprising to me - why shorting now, not a couple days before?

I am personally not buying yet - but this rise seems more convincing to me that previous attempts at a rally. True, the volume is still low, but bitcoin supply on exchanges also seems low. Of course shorting two days ago would be in hinsight much worse decision that shorting today. I just meant that I am much more bullish today than 2 days ago - but still not bullish enough to actually buy

Indeed. Sudden big dump on BTCe, price down to $428 atm

It is really uncanny how we are re-playing exactly same pattern again. I was beginning to think that perhaps this time it will be different. It really feels strange - market should not be that predictable

  where?

Lol. I think you are actually right.

You think we have not reached the bottom yet?

This. And the fact the we didn't hit $550 by May 4th is actually very bullish and Chinese exchanges closing should fill everybody with optimism and hope

2660 on Huobi broken without any fight. Bitstamp follows down with minimal volume - I wonder what will happen there if the volume will finally rise. Probably a freefall ...

Seems collapsing already - don't know if there was news or not, don't care ...

And there is a wall - 530 sell wall on Stamp

TERA, walls are back -1450 sell wall at Huobi now, 530 sell wall earlier tonight at Stamp

EDIT: another 4-digit sell wall on Stamp

yes. but sell orders are bigger than buy orders, likely meaning smart money is sellng

+1

I was also wondering about that - I think it must be some way left of withdrawing fiat from Chinese exchanges? I though only new fiat deposit are prohibited. If you can no more withdraw fiat than your only option would be to buy btc. Who would sell btc in such situation - exchange owners?

They definitely can send BTC to foreign exchanges. It is impossible to effectively forbid it. I imagine they should no problems trading at least at exchanges who are relaxed about customer verification, like BTC-e. With some other, I do not know. Chinese seem to have limit on how much money you can transfer abroad every year - I do not know if there are any restrictions on bringing money in (i.e. selling BTC on Bitstamp and wiring $$$ back to China)? Theoretically, Chinese authorities should like $$$ flowing into the country - but not all of their actions seem logical  

Yeah, I was also wondering that. I do not remember what is the Chinese authorities stand on mining, mining equipment vendors etc?

To some extend, even if any transferring BTC out of China would be profibited, one can imagine big players buying them from smaller miners at discount and than doing a big smuggling operation.

Gox was even worse at the end - you could not even withdraw BTC. We later learnt why ...

open ripple wallet (at ripple.com) trust bitstamp (their ripple wallet address) and voila, you can trade btc (from your bitcoin wallet) into XRP in your ripple wallet, using Bitstamp, which is one of ripple gateways

You can PM me your address to get your ripple wallet funded. There are also "pay it forward" ripple giveaways on ripple forums, to help solve the wallet funding problem

Bridge sometimes does not work, you can also trade directly

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

I completely agree it does not make sense, but it does seem to be the pattern 

I also think it is highly unlikely - and would actually be illegal - for them to update accounting only once weekly and buy every day. The thing is, they are supposed to to buy BTC for every investor the day they get money and they charge that day average price.

Interestingly, the pattern is not absolute - we some time see increases in their holding on other days, but Thursdays are strongly preferred. If they are buying of the exchanges it is less of a problem, but still strange.

Most interestingly, somebody published an analysis here showing that BTC raises most on average .. on Thursdays Sapienti sat?

I am very puzzled that there is a company willing to take over Mt. Gox. Mt Gox's assets are MINUS 650,000 BTC and perhaps MINUS 20-50 millions $. Their only other asset is their "reputation".

Can anybody sane could be willing to pay 650,000 BTC for Karpeles exchange's reputation of being scammers and possibly thiefs? Or their buggy, obsolete software without even production version?

The surprising part for me is that victims's lawyers support it. Do they know something we do not? Or have not learnt their lesson yet?

LOL, in that case some people would pay you a lot for contact info of these buyers - or to do their marketing.

The news - on coin desk and such - make it sound as if there is an international coalition of Mt. Gox. victims who thinks this taking over is best for them.

But perhaps a couple of biggest holders want to divide these 200,000 BTC among them, at the cost of smaller holders like you ... Would be sad but at least would make some sense. I cannot make my mind around Gox victims suddenly wanting to invest in Mt. Gox instead of getting their portion of newly found 200,000 BTC. Settling with Gox's second in command before any real investigation started is a strange move, too

How? Recover 650,000 BTC from trading fees? Whou would trade at Mt. Gox after all this stuff? And pay high trading fees? The only reasonable (and legal) business model would be to sell Mt Gox software without disclosing who wrote it ... The problem is that the software is a mess similar to Mt Gox, so also worth nothing

If you are serious - I know a lil' boy who loves spiders - so please do

Yeah, I understand that the hope is that he will help to prosecute Karpeles - but what if he was his partner? It will be hilarious actually if they will be no evidence of Karpeles wrongdoing, only against this G G-B guy - and buy settling with them they will get away with stealing people money as there will be no evidence against Karpeles and they are just making a deal not to prosecute GGB.

Come on, don't be picky - I like it! Thx!

Nah, I think we are going to repeat for the nth time the same routine - stagnation, then a bigger order starts price fall. Getting boring, actually, and amazingly repetitive so far.

Yeah, I think he meant dump.

Lol, you were right we also had a pump. Mini-pump so far.

Right.  According to some rumors, one of the largest accounts in the leaked MtGOX database was Mark's.  Will he get his share of the 200'000 too? (in a liquidation, the owners have the lowest priority.)  According to those rumors, other large accounts belonged to close friends of Mark.

By the way, no one knows who leaked that database and whether it is true.   It may have been doctored with the intent of stealing a large part of the remaining coins.

Suppose for example that the sum of all BTC account balances was actually 400'000, and the database was altered by adding another 400'000 to the accounts of certain clients, bringing the total to 800'000 BTC.  If the remaining 200 000 BTC were distributed according to the true database, each ordinary client would get 50% of his balance.  With the faked database, he will get only 25% of his balance, while those special clients would get to split 100'000 BTC that were never theirs.

The only hope to get the truth is through a police investigation.   If Sunlot takes over, no one will ever know what really happened inside MtGOX, and no one will know whether the payments (if any) were fair.

(I actually don't care about whether the clients will lose those 200'000 BTC too to "MtGOX 2.0", but like any sane person I get very upset when I learn that scammers and thieves got away, free and rich.)
[/quote]

OK, O probably did not phrase it well - but US court (based in Chicago, iirc) - agreed preliminarily to this proposal and lawyers representing some US customers joined with some lawyers representing "internationals" to try to convince Japanese courts.

Yeah, friends of Mark's hypothesis make sense - all simply well connected and very wealthy bitcoiners.  ASAIK the list is (mostly) legit, when it was published many people on reddit confirmed their holdings. But you are right that few accounts could have inflated amount of holding. And taking into account lack of any proper accounting at Gox - and them publicly admitting to processing transactions manually because it is faster - it is probably possible to fake such holdings. Although true computer experts - who would look at the date of making records, deleted data on drives etc should be able to figure out the truth. If they seized Gox computers in time, that is - before the crucial hard drives went physically missing...

Yours is definitely better . The other is just generic, although the correspondence is quite funny.

Basically, you will be buying from the Twins. That is why I do not understand why people consider it bullish - they already got the BTC, now they will be selling them

I have not learnt yet how to attach charts, but looks like there is a bearish divergent on 15 mins chart on Huobi (between price and Stochastic RSI)

I have not read the fine print, but I know the Twins have ~100,000 BTC and are in the process of registering a vehicle to sell BTC to the masses ... Now if you connect the dots ... They are also doing a lot to pump bit coin price, like announcing last year that the true value was 3,000 or 30,000 ... either way, nobody still accumulating would do this. So either they want to sell immediately or in the future

Thanks The divergences I spotted are not worthy this work, though. And as somebody pointed out, it is night at China now, so things may remain stagnant anyway.

Another advantage of Second Market is that you do not need to worry about safe storage, private keys, exchanges being hacked or being scammers etc - although of course Second Market charges you a lot of $$$ for that. Perhaps even more importantly, you can be very technology naive, never have bit coin wallet etc

Speaking about Chinese ban - is there any evidence that PBoC required exchanges to withdraw from the Bitcoin Summit? Or does it seem to be their initiative to please PBoC?

Clearly, China has a very different culture from one I 've been brought in (Europe). It does seem very strange to me to allow exchanges to operate, but (effectively) not advertise their services Is this "Chinese way"?

I would personally not use Second Market because they charge so much and of lack of freedom to sell - but they already have many customers and even some people in this forum declared they would use them. Think the wealthy GrandPa type as their target investors . There is still high entry barrier into bitcoin, especially for older folks. Moreover, with all the stories about Gox, hacks, etc some people would pay a lot not to have to deal with exchanges.

Of course, it is possible Second Market will turn out to be a scam - but highly unlikely, iirc for the company who runs it the bit coin fund is a small side business. And even if they are problem, they are a company operating at US, that is supposed to comply with US regulation, much easier to sue etc than private or semi -anonymous exchange owner in distant countries.  

I am curious, too. Going to bed now. My hunch is we will end up going down again, but after a long and torturous fight. Probably including some up move.

The problem is that the court would make this decision for the customers - and apparently few were consulted and truly support Gox 2.0

down we go

$438 may become resistance again on Stamp

Ehem? Certainly does not seem this way to me

Hope you kidding?

Bitstamp order book look scary - for the bulls

I just meant the totals of fiat waiting and btc for sale. Much worse ration than anytime recently

They said it in January this year, without giving any target date. It is somewhere on their webpage, in FAQ I think.

Stamp briefly at $432 due to ~200 btc dump. And 79btc pump was enough to bring it back to $439, lol

Lol - seriously? Another big bitcoin exchange becoming insolvent would be an incredibly bullish news? Not in a universe I am living in

No, rpietila originally said that we will have a flash crash to 300-350 in 7 days. Only when challenged to a bet he suddenly added that probability of that crash is 7%

What wall? I think TERA meant bounce down from 2760 on Huobi - so far we are still down 

I think that breaking over 2800 would be meaningful - providing it is not on very anemic volume.

Has been bigger 25-28k btc even in the last couple weeks. Why what? Same ask volume or 21k btc?

Imho, some of these ask are old, wishful thinking asks for couple thousand $ per btc "just in case".

Yeah, Stamp already back from da moon, Huobi still pumping

Depending on whom you ask . Imho - nope.

Yeah, this time they bought ~341 BTC.

Actually, I am not sure if it is bullish - they keep buying but the price stays the same. Think what would happen if they would stop buying - or start selling.

Why? They sort of have a "ticking bomb" design - you are only allowed to sell after holding for 6 months. So they may have many investor who bought high and want out, but they have to wait some time, until this 6 months will pass.

Yes, I also heard and think at least some of their buys are off-market. But it does not matter. They are buying from people who would otherwise sell at the exchanges, thus relieving selling pressure. Unless you believe Barry is able to convince people to sell him, even though they would never sell at the exchanges for the same price. I think it is more logical and simpler to look at the selling and buying pressure globally. Although of course sometimes it matters briefly in time, before arbitragers will have time to address it, what is supply and demand at particular exchange and at particular time. But typically, these are all connected vessel - unless Gox happens.

Another believer in never-ending exponential growth of bitcoin?

Well, we are about 6 months from the @1200 peak in November 2013, so far the price is certainly not higher  

I agree that institutional investors act very differently than most individual investors or people around here. But Second Market is not for institutional investors, it is for individual folks, just a bit more wealthy than average. The "first 6 month selling ban" is not a guideline, it is simply prohibited. Meaning that Second Market believed their investor would be prone to panic selling, just as the regular folks. So far, their have pretty bad record of buying high, that is why I believe they would be also prone to selling low. Not Barry fault at all, he has on influence on these decision other than this 6 months selling ban.

Btw, you sound a bit if you believe I am trying to sell some agenda. I am just expressing my views, like anybody else on this forum. I am neither long or short in bit coin, and actually decided not to buy it, so I would not gain whatever happens with the price.

Why not? I mean, nobody is asking "why the pump?", why do we need a special reason for the dump? Just basic laws of demand and supply - apparently not enough buyers atm at Huobi to support the current price. Knowing Huobi, 15 mins from now it can change dramatically again 

Yeah, and even whales have to pay the bills sometimes.

I think TERA summed it up best: we have a prolonged stand-off between holders - who believed that bitcoin is worth thousands of $$$ so are not even remotely interested in selling at these levels - and fresh fiat like me, who may be thinking that at current prices risk/reward ratio for bit coin is not that great, market is practically frozen so trading is almost impossible, so they are gradually moving out to other investments.

LOL, it does seem that I am not only "irrational" person here - somehow we do not see many people buying this "best investment ever". I am not selling either, I have never owned a bit coin. I am just sharing how it looks like form my perspective as someone who was interested in investing in bit coin since beginning of this year but decided recently to move on.

EDIT: I am not risk averse at all - I have been trading penny stocks and options at college already Bitcoin has been best investment ever early on, but at this point in time I see better options. We will see in a couple of years who was right.

I am afraid I become another Jorge - observing bit coin attics is very interesting and sometimes amusing, especially when you have no money invested. I am also still interested in crypto currencies and may change my decision about not investing in bit coin if price will go lower.

I know . But it is being autocorrected for me. Is there a way to switch it off?

Well, you are apparently one of the believers that if the price raised 10 times last year, it will most likely raise 10 times this year and next. I do not believe in exponential growth line - just normal markets bull and bear cycles. Now I guess I will be asked again to leave this discussion forum that sometimes resembles more a support group .

As I said, I never owned bitcoin, so I could never sell them, neither and I do not have any for sale. If by some strange coincidence I would have some at this moment (meaning I would still not sell in the 6th month of the bear market) I would most likely hold now, the market seems indecisive and may go up or down or worse stay like that for months.

EDIT: I understand that your "contact me to sell at $430 was mostly rhetoric - but why any rational person do it if they can be sold higher on any exchange?

First of all, my opinion is not on bitcoin, strictly on its price. Second, I agree that crypto will revolutionize the finances. Just decided not to buy bitcoin atm, is all .

BTW, I am not trying to write some manifesto on my personal investing philosophy. Somebody asked why the price falling without any bad news. I tried to answer as a representative of people having money put aside for high risk investments and being able to buy btc instantly, but nevertheless not buying them atm.

And from 40,000 to 4,000,000 just as easily? Yeah, it is exactly the part I am not "getting". Perhaps because I am a mathematician and vaguely remember from school that amount of money in the Universe is finite . But you are just trolling, right?

Wanna take a bet that a year from now I could find a better investment than btc?

TERA has always been a long-term bull. Yeah, I know everybody is expecting triangle breakout in days or weeks, but I also have a hunch it can be flat for couple of months.

Wow, this is really extreme. I imagine how frustrated ppl with online wallets are . OTOH, Chinese officials are very inconsistent - mobile websites still OK. Truly, it will be kinder if they would just openly and honestly shut everything down, not suddenly closing access to online wallets or off shore exchanges. Guess these are cultural differences, for some reason they do not want to appear to ban btc, even if they are effectively try to do it 

That is ridiculous - US bank closed Second Market's account because they invest in bitcoin? Are we becoming China 

Bought @ 456, but exiting now, 4h RSI was not that high since Jan. 5th

Anyway, that was an impressive breakout

What now - up or down?

I did buy a bit, even though I planned not - could not pass up such an amazing vertical growth but now we are flat again ..

I bought some btc for 455-463, sold about have @ 491, wondering whether another half is worth keeping ... Based on your prediction sounds safer to sell, before my easy gains will be eaten. On the other hand, I was always trying to let my winners run - only it is about midnight my time

Normally, I preferred to trade once a year or less . But this sudden rally tempted me into a bout of day trading . But I agree that trend reversal looks convincing pocketed some small gain already, I will keep the rest of them for the time being I think the bear market is over now - will see.

figured it out

Huobi established slightly lower low right now.

went quickly under 4000 on huobi - where eco you think the fall would stop?

and Bitfinex sentiment index "very bullish"

Let us keep it at 666 atm - such a nice number

Triple top confirmed now - epic dumps everywhere.

Where do you think it will stop?

I think there was bad news from China behind the recent crash

Yeah, it did get up from the local bottom, but now ~ $650 on Stamp, which was neckline of the triple top formation, would likely be a strong resistance. Strong because it also coincides with sMA 200.

TERA, very interesting. So it means that currently resistance is $678 and support $566? I think we also have a smaller resistance now at ~$650, which coincides with sMA 200 and the neckline from recent triple top.

Based just on market observation, seems we have resistance both at $650 and $676. I wish I knew where the support is.

I glimpsed >1000btc sell wall on stamp, at around 660! Not visible on bitcoinwisdom now

Yeah, I saw it, too - on wisdom

More important question is - why would every bubble look the same?

Me, too. Last couple days trading was anemic.

wow, finally some movement. that was quick. Anything happened?

Yeah, this last drop went below putative head and shoulders neckline

https://www.tradingview.com/v/q3nV14D3/

I agree in the large term scale - but for trading successfully, we need more details.

In terms of very long term view, just go long anytime now, should be fine 3-5 years from now Or a year.

I am saying that even though I agree that "all the bubbles are the same" in the sense of bubble anatomy
http://www.portfolioprobe.com/2011/06/17/bubble-anatomy/
I do not think overlaying with previous bitcoin bubbles would give us useful hints how to trade during next couple weeks

Interestingly, the selling pressure seems to be mostly on Bitstamp. Any thoughts why?

Yeah, that I see . Just wondering why Huobi and Btce do not seem concerned? For a while, almost always Bitstamp price was at least couple dollars above Huobi and they were all well coordinated.

I am wondering about the same - it happened couple of time in the last days. Perhaps Chinese coins being dumped?

This time it does not look like that - I can imagine Huobi being closed by the Chinese government, buy BTC-e? Not likely it is in trouble.

I was expecting something like that when it was announced one cannot withdraw fiat anymore from Chinese exchanges. For those who bought at China, selling at Bitstamp is not only an opportunity to withdraw fiat, but they can also convert yuan to $$$ at the same time.

OK

If you live in US you can send them only BTC or other altcoins - I was surprised when they wrote me this and asked them again, but got another canned answer. They customer service is terrible, btw

Precisely, they did not write me it is the rule for people living in US, but that I cannot send them any USD based on my "address". I live in US, I am a citizen, sent them all required documents.

Yeah, I also do not see why it is a big news and why it should cause a rally? It is nice btc is accepted more widely, but buying with it still does not make much sense, rather than to make a statement. On Expedia, even money sundering does not make sense, as tickets are non-anonymous

Gox coins moving to Stamp, though, make much more sense as an explanation on a series of dumps on Stamp.

Well, Jed Caleb repeatedly confirmed that he is *that* dumb, he has actually started selling xrps. He is also creator and co-owner of Gox (12% shares). And co-defendant with Karpeles in the trial.

dumping, part II on Stamp

Perhaps he is right after all?
https://www.tradingview.com/v/qm7cnu9V/

He has been changing his view on the short term development, but he has been firm that $340 was not the final bottom. Until yesterday, I was convinced he was wrong, but I am not so sure today.

BTW, I think it is to his advantage that he is not invested in btc at all - he can analyze the price without all the emotions. He was also one of the very few who was predicting the crash among euphoria of >$1000 prices at the end of last year

What do these double spends mean? 51% attack?

EDIT: There are even triple spends. Can somebody please explain how it is related to GHash.IO exceeding 50% hashrate?

+1. I would be so simple for GHash.IO owners not to allow it. Welcome to centralized bitcoin .

You do not have to live in US to have US bank account.

Yeah, any reason for price falling like a rock again? Huobi, too  

Oh, so he is not "some dude". Makes more sense now. I also think that GHash.IO situation is very bad for btc prospects.

He is trying to correct bigger evil, which is bitcoin effectively becoming GHashcoin.

Stop posting this FUD, you stupid troll

That is a good question. But apparently they like it for some reason at GHash, they are pulling only some of their miners. Anyway, kudos to them and shame on GHash for lack of any reaction.

Another round of dumps. this is getting old Any particular reason this time, all just 51% attack, selling Silk Road coins, and reiteration of China ban?

So you have now more than twice the amount of btc you would have if you hold - why is that unfortunate 

Who says there is supposed to be a bubble in July?

Long term support line - probably last opportunity to buy . Pity bought at 550

Forced liquidation of leveraged longs.

And difference between Stamp and Huobi is also almost back to normal - just a couple of dollars. Feels nice.

Any idea what was with this series of dumps that were occurring on Bitstamp only?

Looks like there will be soon a third failed attempt to go over $610 on Bitstamp. On the other hand, $540-560 on the downside should hold. Another couple weeks of a narrowing sideways trading?

NXT is falling even more, not to talk about blackcoin and doge seems to be dying. Does not look very bullish, more like  run to the safety of  bitcoin more associated with a bear market?

They are selling relative small amount of btc, but you are probably right that psychological effect is disproportionate. Wondering if this rally was a gigantic bull trap? I would be very surprised, but otoh market seems out of steam already and volume remains thin ...

Can be both

You made my day 

How low do you think we would go if the ~$613 resistance will hold?

This is their business model: inventing all kind of fees . They already have entry fee, exit fee, 2% per year safekeeping fee - and now 5% bidding fee

Lol on missed fee. Yeah, I know it is how all money managers operate. So no wonder they are trying to milk this auction for possible fees, too

Yeah, I agree it does not look very tempting. Maybe they want some free publicity? In case none of their bidders would win, it can actually cost them wire fees for deposit - although for these amounts of money fees are probably totally negligible.

Yeah, what do you mean, Tera?

The best oracles are that way . Although 1w MACD on Bitstamp not confirmed yet, just one green candle, which can still change. Their weeks ends Wed, iirc

Have you actually read it? The regulations seem very restrictive, e.g. Coinbase could not continue to sell btc to Canadian residents until it obtains full Canadian license. Any btc business would have to be fully compliant with Canadian AML/KYC laws if they want to service Canadian citizens. Likes of Bitfinex or BTC-e will not care, but businesses located in US would or those in Europe. They end the article by recalling one of the biggest Swiss banks ruined by a similar law. How is such a restrictive legislation in Canada bullish?

Well, it would also mean that the *past* candles would continuously change - are you sure you would like it?  I think it is much better to have only one last candle uncertain

No trend can last forever.

TERA actually says that this trend line is in slightly different place than most people assume and has been broken already couple weeks ago:

https://www.tradingview.com/v/FrBDVR6H/

More interesting question is where a new support line would form (assuming trend is broken). "The bubble baseline" - somewhere between $100 and $200 seems way too pessimistic, imho.

yeah, I am also betting on previous bottoms: most likely $522-538, if not $450 or at worse $340, though not very likely. A year from now, even "bubble baseline" (exponential) will be around today's price.

I am so glad question 5 is not true

Anyway, the actual one is almost as stupid: "The purpose of trading on Bitstamp?". Anyone would answer: "to make money", do they really think somebody would say "money laundering"?

What about: somebody wants to sell that amount of btc @ $600?  Do we really need to look for a deeper/manipulative motive behind every wall?

Do we have some kind of contest for weirdest conspiration theories about the btc price around auction with entries being posted in the Wall Observer thread?

No, I am sorry, I do not think you were even close - just the latest example of a weird trend.

This is also incorrect, coindesk reporter added their estimation of current bitcoin value and made it sound as Barry's estimation of SM bid.

Afaik, the only source for winning bids are rumors.

Come on - what kind of a bull trap it would be if the price would fall $10-$15 and then continue raising? It would be rather a bear trap, for those who would be tempted to short.

No, 20million worths of SM bid is *not* a factual information.

+1

I think short-term Huobi is going down and 'Stamp would follow.

Very interesting - whose chart it is on TV?

Wondering the same thing .

How to find it? I have been on TradingView for a while, but have no idea ho to find that chat .

Ok, I first went into bitcoin news instead of bitcoin chat, LOL. Thanks!

+1 My thoughts exactly.

And it is also kinda "too expected".

Buy walls everywhere

Dumping across exchanges.

Sarcasm? U shorting?

LOL on shorting mankind. What happened in 1969?

Down for me too

Anybody remembers when the 3d bins are closed on Bitcoinwisdom? Currently, 3d MACD bars are red for the first time on Stamp, Finex and BTC-e and for the third time on Huobi .

3d MACD is becoming red as we type - again no action .

I think we are going lower, 3d MACD just went red across exchanges yesterday and generally the recovery from 591 was not that convincing.

LOL. What is your meaning - HODL?

Good one .

Why is this sudden dump?

Is there better source of info on the current amount of Bitfinex longs than this https://www.bitfinex.com/pages/stats?

It seems that the info there is very delayed.

Btw, Finex longs still hovering around 30M, despite all this falling. Strange.

Bitcoin rallied from $568 to $579 on Stamp - time to post trains yet?

Anybody has a clue why the sell off seems worst on Stamp? All these leveraged longs are on Bitfinex or BTC-e?

Yes, she did.

How come almost 40% people think short term trend is bullish?!? This is today's poll, right?

I wouldn't mind if it would turn up this way, but so far things are looking rather bearish . Where are all the people screaming in this forum what a bargain under $600 coins are, not talking about under $500, which we were not supposed ever see again?

+1. I have always suspected they were mostly people already 100% invested in btc. Looks like this, or they chickened out now .