Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Kudos to myself for being spot on 
Pboc story ain't finished until exchanges are closed or delocalized
I agree, this current pump has no follow through. Soon it'l retrace back to 500, afterwards sub 460 to test some support.
This rally will end soon as it cannot be sustained by enough bids (less than $11 million bids) and has been fueled mainly by china and previous sellers who believes 340 as bottom and getting back in. To summarize, bitcoiners have short memory about the situation with pboc and is currently blinded by 'fear' of missing the fantomatic moon train.
Pboc story ain't finished until exchanges are closed or delocalizedLook at that long Red wick on Huobi.. Chinese says Fuck u white boy!
Usually when the wick is that long, expect bad chinese news later on..
Usually when the wick is that long, expect bad chinese news later on..
We are at the mercy of chinese traders. They get the news firsthand and sets the Trend, some bots that follows CNY movements eats part of the cake.
That is why pricing has been unpredictable for westerners. And I am totally uncomfortable with that. Until Huobi/okcoin gets shut down by PBOC or move out of china, I'm keeping my Fiat out of this gamble.
That is why pricing has been unpredictable for westerners. And I am totally uncomfortable with that. Until Huobi/okcoin gets shut down by PBOC or move out of china, I'm keeping my Fiat out of this gamble.
I believe we've just hit the top.
There was a lot of struggle in that pump
There was a lot of struggle in that pump
I agree, this current pump has no follow through. Soon it'l retrace back to 500, afterwards sub 460 to test some support.
This rally will end soon as it cannot be sustained by enough bids (less than $11 million bids) and has been fueled mainly by china and previous sellers who believes 340 as bottom and getting back in. To summarize, bitcoiners have short memory about the situation with pboc and is currently blinded by 'fear' of missing the fantomatic moon train.
Pretty accurate analysis.