Poll
Question: Closing BTC Price June 28:
$0 - 5 (2.6%)
<$7,000 - 4 (2.1%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.5%)
$8,500-$8,999 - 3 (1.6%)
$9,000-$9,499 - 4 (2.1%)
$9,500-$9,999 - 27 (14.2%)
$10,000-$10,499 - 26 (13.7%)
$10,500-10,999 - 15 (7.9%)
$11,000-$11,499 - 14 (7.4%)
$11,500-$12,000 - 17 (8.9%)
>$12,000 - 59 (31.1%)
>$20,000 - 15 (7.9%)
Total Voters: 190

Pages: « 1 ... 20533 20534 20535 20536 20537 20538 20539 20540 20541 20542 20543 20544 20545 20546 20547 20548 20549 20550 20551 20552 20553 20554 20555 20556 20557 20558 20559 20560 20561 20562 20563 20564 20565 20566 20567 20568 20569 20570 20571 20572 20573 20574 20575 20576 20577 20578 20579 20580 20581 20582 [20583] 20584 20585 20586 20587 20588 20589 20590 20591 20592 20593 20594 20595 20596 20597 20598 20599 20600 20601 20602 20603 20604 20605 20606 20607 20608 20609 20610 20611 20612 20613 20614 20615 20616 20617 20618 20619 20620 20621 20622 20623 20624 20625 20626 20627 20628 20629 20630 20631 20632 20633 ... 24402 »
  Reply  |  Watch  |  Notify  |  Mark unread  |  Print  
Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21254531 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (68 posts by 16 users deleted.)
RayX12
Hero Member
*****
Offline Offline

Activity: 924
Merit: 552


View Profile Personal Message (Offline)

Ignore
June 12, 2018, 12:44:04 AM

MSM is clueless...there is no way yesterdays correction was caused by one tiny tiny exchange getting brute forced... sorry..I dont buy it.  That would be like claiming it was caused by Tone's and Doug's bet. Nope... still not buying it.

Perhaps longs were getting out of control...and the market had to slam the door on some of them is one opinion. Some are saying its just a general technical correction..that the market was oversold. As in most things its usually a combination of events. Personal I think its was mostly due to panic selling over the CTFC news of a price manipulation probe coinciding with a general correction. Momentum gathers quickly once the tides shift.

For a little Straight Outta My Ass Non-TA:

If you ignore the obviously manipulated Bart action (anything near-vertical on a 4 hr chart) the majority of background action appears surprisingly and overwhelmingly bullish. It's punctuated by relatively brief and steep bearish intervals.

To me, the Bart action stinks to high heaven of whales still trying to cash out gracefully via OTC but being absolutely played by their OTC brokers. At the moment, whales are selling faster than the OTC market can absorb, leading to an overall downtrend, or at least sideways equilibrium. At some point, whalebears will run out of ammunition and the background uptrend will once again dominate.

I suspect it's Wall St and institutions slurping up most of the whale poop. Several regulated brokers (Fidelity, Goldman, JP Morgan, etc) are on the brink of offering their own Bitcoin exchanges, and are probably in bed with the OTC brokers, accumulating, accumulating, accumulating. Of course, they're getting played by their OTC intermediaries, too, resulting in reverse Bart action and uptrends. I wouldn't be surprised if it's these Wall St guys crying foul in the first place and putting pressure on the CFTC to investigate unregulated OTC/futures manipulation and level the playing field before the flood gates open. This is causing further whale and OTC broker panic to hurry up and unload before regulators shine a light and scatter the roaches in their corner, too.

Why OTC in the first place? Besides avoiding thinly traded exchange slippage, OTC brokers don't typically report anything to the IRS or other tax authorities. I suspect KYC/AML is much more lax as well, as long as you got the coin to play. Privacy comes at a price, though, and it's name is manipulation.

Meanwhile, small fry retail guys are quietly accumulating, driving the bullish background action we see on the charts.

Straight Outta My Ass

4 hr candles

Beautiful Out of Your Ass TA
Confirmed



Confirmed!