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

[rudius]

~26 hours ago when we first dipped down from 440 to 400 I was sleeping at the time (I'm in Europe), and I lost money by sleeping in BTC. Sold at 400 when I woke up and watched the fireworks. Last night I was up until 3am watching the price go down to 355, went to sleep for 4 hours in fiat, and woke up at 400.

What the fuck.

Am I just really unlucky or am I doing something wrong? Why do massive changes occur at roughly 3:00 am UTC? Am I missing something?

I m living in europe too. Same storry, different action. I bought a shitload on 400, was looking very excited as the price heading to my next buy level. Very disappointed to wake up for a 400$ BTC... I wasn t expecting that before the 15th.

Any way,in this market, if you really believe in bitcoin, you shouldn t time the bottom. Once you buy, you have to hodl the line. I can do that by always having fiat ready to go in. 400 was my first buy entry also

Nobody know the bottom. You better be ready to hodl for a whole year, maybe more ( i m ready, even if i think that the next surge is for this summer)

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[JorgeStolfi]

What will happen next to the price?

In spite of the reassuring words by that PBoC official (who, if I understood correctly, did not mention the ban), it seems fairly certain that the bank accounts of the Chinese exchanges will be blocked in a week or two at most.  Presumably, most of their clients will sell their coins and take the cash out before that time

With such pressure to sell,  the price is more likely to go down than up.  Arbitragers will buy the cheap coins dumped by the Chinese and imemdiately sell them on the Western exchanges, thus bringing the price down here too. 

I cannot guess what will be the price when China is finally over, nor what will happen after that.

I suppose that one should be holding money rather than crypto when the price is more likely to go down than up.
And vice-versa if versa-vice.

[nanobrain]

@Chessnut
Please remove the falsely attributed quote.

First do me a favour and ignore me, then Ill take it down.

In fact, we could both take down the whole freaking argument and do this thread a favour.

No.  
I am entitled to call your constant and often misleading posts.

The fact that you respond aggressively and in this manner also reveals your true character.

Reported for both deliberately falsifying another user's posts and for coercion.

[chessnut]

@Chessnut
Please remove the falsely attributed quote.

First do me a favour and ignore me, then Ill take it down.

In fact, we could both take down the whole freaking argument and do this thread a favour.

No.  
I am entitled to call your constant and often misleading posts.

You are such a nice boy.

Reported for both deliberately falsifying another user's posts and for coercion.

summary: you can do whatever you want.... my posts are not misleading, you are simply mislead.

[bangersdad]

Well of course I'm not buying everytime I see a train picture or selling every time someone spreads panic and FUD. I try my best to filter the noise and evaluate the overall sentiment, and correlate what is happening to what the people here do, and learn.

I wouldn't expect you to. but I think this is the wrong thread. Go to Rpietilas thread. there you will find unbiased opinion, valid argument, and a friendlier environment.

10 days ago you were expressing a strong opinion that we were going upto $500....you were posting all your fictitious charts trying to justify your claims....when others suggested you should go short instead as it was obvious we were heading for $400 you lambasted them..i told you we were on a clear downtrend and you expressed your opinion it would be a great time to buy as it was a "classic bottom" - and now you are arrogant enough to still try and claim your accuracy...what planet are you living on?

[Guinpen]

I m living in europe too. Same storry, different action. I bought a shitload on 400, was looking very excited as the price heading to my next buy level. Very disappointed to wake up for a 400$ BTC... I wasn t expecting that before the 15th.

Any way,in this market, if you really believe in bitcoin, you shouldn t time the bottom. Once you buy, you have to hodl the line. I can do that by always having fiat ready to go in. 400 was my first buy entry also

Nobody know the bottom. You better be ready to hodl for a whole year, maybe more ( i m ready, even if i think that the next surge is for this summer)

Oh, totally. I am very bullish in the long-term, but I want to increase my BTC holdings by daytrading while the price is low. I have only invested as much as I can afford to lose, so I'm not exactly swimming in fiat 

[ampere9765]

nanobrain killin it up in here

I'm sorry but as one of the few female contributors here all this endless dick measuring by boys whose brains are still growing really irks me.  I come here to learn but the hubris that some display is overwhelming.

I meant it in a good way

Someone had to straighten out chessnut 

[magicmexican]

Looks like beartc-e is trying their own thing, i dont think it will work out tho

[chessnut]

10 days ago you were expressing a strong opinion that we were going upto $500....you were posting all your fictitious charts trying to justify your claims....when others suggested you should go short instead as it was obvious we were heading for $400 you lambasted them..i told you we were on a clear downtrend and you expressed your opinion it would be a great time to buy as it was a "classic bottom" - and now you are arrogant enough to still try and claim your accuracy...what planet are you living on?

nothing was obvious, and nothing was strong, and I never said it was. a 'classic' bottom was the context of that bottom, which it was. the sentiment and news that surrounded it. if you didnt notice, we spent weeks in consolidation after that bottom. when/if I call the bottom, note how I will call it the Bottom. but for crying out loud, you are reading a day traders thread!

[thoughtfan]

...having read the last 400 pages of this thread, it is still unclear to me what the long-term trend will be. So it is hard for me to decide whether to wait in BTC or in fiat.

Seriously?  If you're wanting to establish the long-term trend of bitcoin, it doesn't matter how many hundreds of this thread you read you won't find it here!  The hourly and daily, even weekly or monthly price fluctuations are a side show - and the commenting here a side-show on the side-show (fun though it may be.  I hung out here and absorbed, posting less frequently with time for the best part of a year).  I would suggest using a different means of establishing what is worth reading to come to a decision on the odds you want to give the success of Bitcoin as a technology, then bitcoin as a currency.  Once you know how that translates into the total you are prepared to risk, assuming it is not zero, decide if you're not all in and hodling, what proportion of that money you want to play with to see if you can increase your bitcoin holding.

I would warn if you were serious with your 'why should I miss out on the swings?' comment you are showing how you have failed to grasp in 400 pages of this that trading is a zero sum game.  You have apparently gotten the impression from all this reading that most people here, or most people trading are doing well.  You would do well to really question that assumption!  Fear of missing out on what you think looks like an easy way of making money is likely to make you an unsuccessful trader.

As a side note I am one who has bought and hodled and the cost of this, especially when I was a regular on this thread, was that I had to live with not knowing the answer to whether I would have been a good trader or not.  Could I have increased my bitcoin holding substantially by actually playing the trading game all that time I was reading?  I kinda think I could have but at some level I know the odds say I would have ended up with fewer bitcoins than I have.

tl/dr Don't think most who daytrade end up winning and that it is easy for you to do likewise.  If you do decide to play the trading game don't do it till you have decided where you stand on bitcoin's long-term future and if you're in, don't trade with anywhere the whole of your holding!

[chessnut]

There's no wonder why people here lose money....

[magicmexican]

btc-e whales having fun with ltc, putting up 42k ltc wall @9.97

Btw judging by the trollbox, lots of people sold @bottom or near it, tons of desperation and hoping that this is a "obvious bull trap"

[ChartBuddy]

Explanation

[chessnut]

This isn't a day traders thread...its the wall observation thread...big difference.

so this is where long term holders come to watch the ticker?

Or people like you and nanobrain come to say, 'oh gosh, the price moved!'?

this is a speculation thread.....

[TERA]

This is just like the gox downtrend. Once day something concrete and obvious happens to show everyone gox is in trouble.  The next day some piece of news comes out where some guy says everything is ok at gox. And it goes up and down and on and on with everyone in denial until finally gox just closes. I cannot wait till Huobi is simply closed, and there is no more debate about it.

[octaft]

No guarantees here, but if you bought at $350ish, there's a decent chance $400-$410 was the time to sell. GL holders.

[nanobrain]

10 days ago you were expressing a strong opinion that we were going upto $500....you were posting all your fictitious charts trying to justify your claims....when others suggested you should go short instead as it was obvious we were heading for $400 you lambasted them..i told you we were on a clear downtrend and you expressed your opinion it would be a great time to buy as it was a "classic bottom" - and now you are arrogant enough to still try and claim your accuracy...what planet are you living on?

nothing was obvious, and nothing was strong, and I never said it was. a 'classic' bottom was the context of that bottom, which it was. the sentiment and news that surrounded it. if you didnt notice, we spent weeks in consolidation after that bottom. when/if I call the bottom, note how I will call it the Bottom. but for crying out loud, you are reading a day traders thread!

I imagine you have wriggled out of some fights in your time with your endless contradictions.

This isn't a day traders thread...its the wall observation thread...big difference.

We used to discuss medium to long term as well as daily movements...if you want to talk about the next 15 minutes, why don't you and your endless, meaningless, inaccurate charts fuck off and start a new thread where you and the other ADD sufferers can circle jerk each other.

Thanks for the support Bangersdad and Creekbore -- I'm glad I'm not the only person this guy is annoying.

[zakalwe]

btc-e whales having fun with ltc, putting up 42k ltc wall @9.97

Btw judging by the trollbox, lots of people sold @bottom or near it, tons of desperation and hoping that this is a "obvious bull trap"

If ppl would not lose money it would be funny. Weak hands selling.

Day trading is very very very dangerous. 99% of day traders lose all the money within one year.

[magicmexican]

This is just like the gox downtrend. Once day something concrete and obvious happens to show everyone gox is in trouble.  The next day some piece of news comes out where some guy says everything is ok at gox. And it goes up and down and on and on with everyone in denial until finally gox just closes. I cannot wait till Huobi is simply closed, and there is no more debate about it.

Its not even close to being the same, and i dont think you are that retarded so you cant see it yourself. So either you are pretending to be retarded, or just too butthurt that it clouds your judgment

[Erdogan]

I hold a bag of bitcoin value sprouts.