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

[dreamspark]

I didn't panic sell. I chose a point at which to cut losses. $400 was the major support that everyone said would be a sign of a long-term down trend. So I set an alarm on my phone and told myself I would sell when that alarm went off, regardless of anything else, being tired of having had nothing but incredible losses over the last few months. I took the advice of the experienced traders on this forum. And it was right, for a day, until the PBOC suddenly decided "oops, just kidding that whole notice doesn't exist even though all these exchanges are limiting deposit options."

In other words, fuck off. Considering you're the asshole giving awful advice calling it "panic selling" when people sold at $600+ a month ago, I'm going to go ahead and pass on your advice.

Just to re iterate, your main problem was listening to people on the internet. You took the advice of traders on a forum who will always talk their book. The PBoC notice has never changed they have never said they were banning it and all they did was reiterate the banking rules and double confirm (for anyone still listening to people saying China is banning it) that a ban was not happening.

I respect your stop loss and its wise if this was an investment rather than wanting to have and use BTC but you cant blame people on a forum.

If your here to get rich then it burns to loose money but if your generally interested in BTC, buy back with an amount you can afford to loose and ride the waves and hodl. There are many around that sold out super low and never returned.

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[Cassius]

If I am not mistaken, this run will take Bitcoin all the way to 6500-7000 USD (based on how it rose last bull run from 60 to around 1200).
There might be some flashcrashes on the way but the major correction will come when the price is at the range of 6500-7000 USD.
I have been buying coins and even today I made a fiat transfer to Bitstamp so fresh cash is on the way. I still have significiant cash reserves to push the coin higher if it is necessary. Right now I do not recommend to short. The odds are that the price will go pretty high. Who am I to stop BTC running even towards 10 000 USD?

That is one heck of an assumption and the thinking that lies behind every speculative bubble in history.
I'm not going to put a ceiling price on bitcoin, but I won't make assumptions like that either!

yeah lol.... cant trust fools to buy when it's cheap..... and you cant trust them to stop buying when it's expensive! mania knows no ceilings.

The strangest/funniest thing is the change in sentiment from just 2 days ago. It's like a bipolar switch. Bam... and it's a bull market.

[Rampion]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

Next time just be rational.

• Do not take seriously any trading advice from this thread, or the speculation subforum.
• Use the posts on here as a contrarian indicator: when these boards are flooded by posts that scream "OMG we are screwed", "Bitcoin will never recover", "I'm all out", etc. -> buy. When these boards are flooded by posts that scream "OMG we are going to the moon", "10k by the end of the year", "Choo choo motherfucker", etc. -> sell.
• Generally speaking, you should realize profits when the trend is UP, and buy more when the trend is DOWN.
• Bitcoin is not such of a gamble as it was a few years ago, but it is still a high risk/high potential return investment. It is extremely volatile, thus you should invest only what you can afford to lose. Forget about "cutting losses". Mentalize yourself that this is "all" or "nothing", and you will not make mistakes.
• Outline a rational plan (I will sell x% of my stash if we reach this price, another x% when the price doubles from the first time I sold, etc.) and FOLLOW IT.
• Do not trade on emotions.
• Profit.

Everybody who has followed such a rational approach has profited A LOT from Bitcoin, while still retaining a huge amount of coins. We could exclude the people that bought at the top of the last bull run, but if they did not realize their losses by selling they will be just fine.

[sonofliberty]

Yes, because I don't know much about buying bitcoin, so I'm trying to learn from people more experienced than I am.

So you put your life savings into something you "don't know much about". Man, this is one fucking expensive lesson. I'm sorry.

[magicmexican]

i Took the advice of the experienced traders on this forum.

Like fonzie and mah87?


Anyway, just wait the correction to 450~ and buy back, easy life

[TERA]

If I am not mistaken, this run will take Bitcoin all the way to 6500-7000 USD (based on how it rose last bull run from 60 to around 1200).
There might be some flashcrashes on the way but the major correction will come when the price is at the range of 6500-7000 USD.
I have been buying coins and even today I made a fiat transfer to Bitstamp so fresh cash is on the way. I still have significiant cash reserves to push the coin higher if it is necessary. Right now I do not recommend to short. The odds are that the price will go pretty high. Who am I to stop BTC running even towards 10 000 USD?

That is one heck of an assumption and the thinking that lies behind every speculative bubble in history.
I'm not going to put a ceiling price on bitcoin, but I won't make assumptions like that either!

yeah lol.... cant trust fools to buy when it's cheap..... and you cant trust them to stop buying when it's expensive! mania knows no ceilings.

The strangest/funniest thing is the change in sentiment from just 2 days ago. It's like a bipolar switch. Bam... and it's a bull market.

It means most likely it's a bull trap, and people are all exuberant because they've taken their longs already.

[Dr. LY]

I didn't panic sell. I chose a point at which to cut losses. $400 was the major support that everyone said would be a sign of a long-term down trend. So I set an alarm on my phone and told myself I would sell when that alarm went off, regardless of anything else, being tired of having had nothing but incredible losses over the last few months. I took the advice of the experienced traders on this forum. And it was right, for a day, until the PBOC suddenly decided "oops, just kidding that whole notice doesn't exist even though all these exchanges are limiting deposit options."

In other words, fuck off. Considering you're the asshole giving awful advice calling it "panic selling" when people sold at $600+ a month ago, I'm going to go ahead and pass on your advice.

Just to re iterate, your main problem was listening to people on the internet. You took the advice of traders on a forum who will always talk their book. The PBoC notice has never changed they have never said they were banning it and all they did was reiterate the banking rules and double confirm (for anyone still listening to people saying China is banning it) that a ban was not happening.

I respect your stop loss and its wise if this was an investment rather than wanting to have and use BTC but you cant blame people on a forum.

If your here to get rich then it burns to loose money but if your generally interested in BTC, buy back with an amount you can afford to loose and ride the waves and hodl. There are many around that sold out super low and never returned.

Believe me, the last thing I am doing is blaming anyone else. I am just trying to get a grasp on what the responsible choice is here. I have used BTC and have a small amount I used on day-to-day purchases.

Did I hope to make a profit when I bought more? Yes. Is that the "wrong reason?" I'm not sure, is it?

Either way, the money just became available in my account. So I'm going to take Rpietila's advice, because he knows better than I do through experience. And yes, I understand that its a risk and I could lose everything, and don't hold anyone else responsible for my decisions. I just was angry after holding through this entire downtrend, I sold right before the rally.

[rpietila]

If Huobi goes back to 2900 today it's going to look really bad.

Why do you think so? Is there something in my "technical signals = manipulation" model that is implausible?

What exactly is so bad that a market recovers +50% from its low in a few days and then takes a breather, even shedding up to 61.8% of the gains if need be (going back to 405)? Or is this the "really bad" that you're calling? If so, I will call that if we go to 405 and stop there, it is REALLY GOOD and a sign the sub-400 will NEVER EVER be visited again. Although I anyway think so...

... it is kind of ironic that all the assholes are the ones who end up shorting bitcoin ... the fastest rising monetary asset EVER ... they deserve it, they are welcome to it, meet your fate.

LOL

[JayJuanGee]

If I am not mistaken, this run will take Bitcoin all the way to 6500-7000 USD (based on how it rose last bull run from 60 to around 1200).
There might be some flashcrashes on the way but the major correction will come when the price is at the range of 6500-7000 USD.
I have been buying coins and even today I made a fiat transfer to Bitstamp so fresh cash is on the way. I still have significiant cash reserves to push the coin higher if it is necessary. Right now I do not recommend to short. The odds are that the price will go pretty high. Who am I to stop BTC running even towards 10 000 USD?

That is one heck of an assumption and the thinking that lies behind every speculative bubble in history.
I'm not going to put a ceiling price on bitcoin, but I won't make assumptions like that either!

It's NOT an assumption, it is a prediction.


The prediction may have some flaws, b/c we cannot know exactly, and trend lines can be broken and variables can change that are the bases for the prediction.

[ShroomsKit]

If I am not mistaken, this run will take Bitcoin all the way to 6500-7000 USD (based on how it rose last bull run from 60 to around 1200).
There might be some flashcrashes on the way but the major correction will come when the price is at the range of 6500-7000 USD.
I have been buying coins and even today I made a fiat transfer to Bitstamp so fresh cash is on the way. I still have significiant cash reserves to push the coin higher if it is necessary. Right now I do not recommend to short. The odds are that the price will go pretty high. Who am I to stop BTC running even towards 10 000 USD?

These predictions are ridiculous. Not saying it's not possible but there is no way whatsoever to predict something specific like 6500-7000.

It takes some time to achieve there.
Now fresh cash is entering to the markets - I see it within my circle. People are buying BTC like there is no end.
My recommendation right now is to close the shorts and go long. It will be rewarded within a few months generously.

I recommend to listen up to Reptilian and start making that money. Please do not troll him - he is probably richer than most of you. Not necessarily the richest but definetely on his way to be that.

I troll whoever i want. And you really think i give a shit if he has more money than me? He trolled this forum real hard. Most likely because he is mentally ill. You are also one weird guy.

[Mervyn_Pumpkinhead]

This is one hell of a bulltrap. Really surprising that it got over 500.
The worst thing about this, is that with rapid rises like these, the fall won't be very rapid. The fall will be slow, boring and painful, so that everyone would stay hopeful and not sell. And the higher it went, means the longer it will take to come down again. But let's have the overly enthiusastic people have their moment here, where they can really believe that this is a trend reversal that just happened out of the blue.

[Rampion]

... it is kind of ironic that all the assholes are the ones who end up shorting bitcoin ... the fastest rising monetary asset EVER ... they deserve it, they are welcome to it, meet your fate.

This +10000

Anyhow, we had retards coming in here screaming they were shorting during all major downtrends since 2011. I remember the guy who was shorting with 5x leverage on plus500.... As soon as the price rallied up the guy just disappeared, probably lost everything.

You just DO NOT SHORT the fastest appreciating asset ever. Sure, volatility is high and thus downtrends go pretty deep, but compared to rallies downtrends are ridiculously tiny. I think the "shorters" are noobs moved by greed, they enter the market during a downtrend and they want to profit hard ASAP. They are just dumb, they do not understand that the potential profit of shorting is very small compared to the amount of risk given the historic exponential appreciation of Bitcoin.

[chessnut]

Yes, because I don't know much about buying bitcoin, so I'm trying to learn from people more experienced than I am.

That's dangerous. a day trader and a long term holder may express different trading ideas, and they may both be right. if you take those both of those opinions in the wrong way, you can lose very efficiently. Listen to Rpietila, he is trusty and experienced, and not a day trader.

[magicmexican]

I dont really get how its possible to sell @399 and only start thinking about buying back today? You had a decent timing window not only to buy back at 0 loss, but even to make some bonus coins.

[TERA]

If Huobi goes back to 2900 today it's going to look really bad.

Why do you think so? Is there something in my "technical signals = manipulation" model that is implausible?

What exactly is so bad that a market recovers +50% from its low in a few days and then takes a breather, even shedding up to 61.8% of the gains if need be (going back to 405)? Or is this the "really bad" that you're calling? If so, I will call that if we go to 405 and stop there, it is REALLY GOOD and a sign the sub-400 will NEVER EVER be visited again. Although I anyway think so...

... it is kind of ironic that all the assholes are the ones who end up shorting bitcoin ... the fastest rising monetary asset EVER ... they deserve it, they are welcome to it, meet your fate.

LOL

You are always refuting something I say 'based on my model' as if we've established some time in the past that I've agreed with your models.

[Rampion]

Either way, the money just became available in my account. So I'm going to take Rpietila's advice, because he knows better than I do through experience.

I will state the obvious again: do not take anybody's advice on when to sell or when to buy. Just invest what you can afford to lose, make a rational plan regarding profit taking at certain points, and stop looking at the charts.

[GameStarter]

+50% from the bottom with the exact same situation. hit the top of the trend.
Now i expect consolidation to 425/435

[ShroomsKit]

Tera: "if 2900 then horrible disaster blah going down blah blah end of Bitcoin".

Yaaawn
You missed the train again. Get over it and learn from your mistakes for once. It's the same shit every single time. Don't you see a pattern here?

[dreamspark]

I didn't panic sell. I chose a point at which to cut losses. $400 was the major support that everyone said would be a sign of a long-term down trend. So I set an alarm on my phone and told myself I would sell when that alarm went off, regardless of anything else, being tired of having had nothing but incredible losses over the last few months. I took the advice of the experienced traders on this forum. And it was right, for a day, until the PBOC suddenly decided "oops, just kidding that whole notice doesn't exist even though all these exchanges are limiting deposit options."

In other words, fuck off. Considering you're the asshole giving awful advice calling it "panic selling" when people sold at $600+ a month ago, I'm going to go ahead and pass on your advice.

Just to re iterate, your main problem was listening to people on the internet. You took the advice of traders on a forum who will always talk their book. The PBoC notice has never changed they have never said they were banning it and all they did was reiterate the banking rules and double confirm (for anyone still listening to people saying China is banning it) that a ban was not happening.

I respect your stop loss and its wise if this was an investment rather than wanting to have and use BTC but you cant blame people on a forum.

If your here to get rich then it burns to loose money but if your generally interested in BTC, buy back with an amount you can afford to loose and ride the waves and hodl. There are many around that sold out super low and never returned.

Believe me, the last thing I am doing is blaming anyone else. I am just trying to get a grasp on what the responsible choice is here. I have used BTC and have a small amount I used on day-to-day purchases.

Did I hope to make a profit when I bought more? Yes. Is that the "wrong reason?" I'm not sure, is it?

Either way, the money just became available in my account. So I'm going to take Rpietila's advice, because he knows better than I do through experience. And yes, I understand that its a risk and I could lose everything, and don't hold anyone else responsible for my decisions. I just was angry after holding through this entire downtrend, I sold right before the rally.

Okay fair enough, im not meaning to sound condescending just you can see the effects of listening to 'experienced traders' on a speculation forum.

Hoping that an asset you hold gains value, nothing wrong with hoping that.
Putting your life savings into one of the most volatile assets in history and hoping to get rich quick, thats the wrong attitude.

You still have a choice to make and that choice is entirely yours. Just perhaps this time be a bit more reasonable with the amount you invest and make sure it is what your prepared to loose. This is still a beta experiment.

[BBmodBB]

Either way, the money just became available in my account. So I'm going to take Rpietila's advice, because he knows better than I do through experience.

I will state the obvious again: do not take anybody's advice on when to sell or when to buy. Just invest what you can afford to lose, make a rational plan regarding profit taking at certain points, and stop looking at the charts.

buy buy buy !!! ;-) haha