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

[rudius]

We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.

I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.

?? do you really think trading is that easy?

There's no easier way on the Earth to make money than crypto trading in normal circumstances.

there s could be some truth about it. but if you cant take BTC trading because of the FUD, you shouldn t try forex... There s nothing more difficult than forex trading.

But i guess you have to see it by yourself.

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[strawbs]

We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.

I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.

?? do you really think trading is that easy?

Trading is gambling.  You can make a living doing either.  Or you can lose everything doing either.  Once again, as has been shown today, I feel compelled to re-state that TA does not work with bitcoin.  Anyone who thinks it does has either simply got lucky a few times and so concludes that their TA is accurate, or they simply use it as a psychological support tool.

[rudius]

We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.

I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.

?? do you really think trading is that easy?

Trading is gambling.  You can make a living doing either.  Or you can lose everything doing either.  Once again, as has been shown today, I feel compelled to re-state that TA does not work with bitcoin.  Anyone who thinks it does has either simply got lucky a few times and so concludes that their TA is accurate, or they simply use it as a psychological support tool.

TA IS a psychological support tool. What did you think it was?

TA works because traders use it.

[lemonte]

Was it really China? Or was it this:
http://www.reuters.com/article/2014/04/16/us-bitcoin-mtgox-idUSBREA3F09U20140416
Either way, this is plain stupid. When will they learn not to panic sell into a flash crash?

https://twitter.com/Magiicaltux/status/456329209624154112

[JorgeStolfi]

Had to laugh at the quote above "The Silly Americans are selling on this news" both sides blaming each other

But that is the American writing, yes?

[strawbs]

We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.

I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.

?? do you really think trading is that easy?

Trading is gambling.  You can make a living doing either.  Or you can lose everything doing either.  Once again, as has been shown today, I feel compelled to re-state that TA does not work with bitcoin.  Anyone who thinks it does has either simply got lucky a few times and so concludes that their TA is accurate, or they simply use it as a psychological support tool.

TA IS a psychological support tool. What did you think it was?

TA works because traders use it.

In commodity markets, yes.  In BTC, no.  I repeat, no.

[seleme]

We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.

I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.

?? do you really think trading is that easy?

There's no easier way on the Earth to make money than crypto trading in normal circumstances.

there s could be some truth about it. but if you cant take BTC trading because of the FUD, you shouldn t try forex... There s nothing more difficult than forex trading.

But i guess you have to see it by yourself.

We'll see, I'm not doing bad last few days and I tend to learn a lot. It's pretty volatile too though.

I don't care about FUD here on forums and such, that means a little. CHinese FUD controls the market though and I can't trade anymore without being safe that they won't drop bollocks each minute and completely ruin my position.

[lemonte]

Had to laugh at the quote above "The Silly Americans are selling on this news" both sides blaming each other

But that is the American writing, yes?

Nope, not American.

[xalex]

I entered at 140, never bought back in 2011. wasn't really good with money back then and it wasn't easy to buy coins then.

Those gains were when we were around 650. I doubt I'd collect more than 200 times gains now even if I'd sold all alts I have at highest price and that's impossible with such bad liquidity.

Buying coins in 2011 was indeed hard.

In 2011 there was gox for defining the price, and a wire transfer to Japan would take months (no joke). Building your own GPU mining rig was actually considered the #1 easiest way to get BTC.
I ended up driving to the other side of the country (this was in 2012) to trade face to face with a community member who had the patience of sending euro's to Japan.

The growth in the economic foundations (not talking about $ here) we have seen with cryptocurrencies is just insane. How many new exchanges do we have today? How more professional are they? How many new bitcoin businesses? There is so much time and value invested in the usage of this distributed ledger i have a hard time believing this could be anywhere below the current BTC market cap.

A new economy is being built from the ground up because of new technology, and it's being built extremely quick.

[ShroomsKit]

So how many of you traders just lost money because of this China "news" thing? Come on, i know there must be a bunch of you here. Please tell me so i can laugh in your face.

[strawbs]

We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.

I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.

?? do you really think trading is that easy?

Trading is gambling.  You can make a living doing either.  Or you can lose everything doing either.  Once again, as has been shown today, I feel compelled to re-state that TA does not work with bitcoin.  Anyone who thinks it does has either simply got lucky a few times and so concludes that their TA is accurate, or they simply use it as a psychological support tool.

TA IS a psychological support tool. What did you think it was?

TA works because traders use it.

In commodity markets, yes.  In BTC, no.  I repeat, no.

Lol repeat LOL

 

[TERA]

We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.

I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.

?? do you really think trading is that easy?

There's no easier way on the Earth to make money than crypto trading in normal circumstances.

there s could be some truth about it. but if you cant take BTC trading because of the FUD, you shouldn t try forex... There s nothing more difficult than forex trading.

But i guess you have to see it by yourself.

There are two reasons I want to leave btc trading and go to forex and stock trading:

1. My money is not safe on unregulated overseas crypto exchanges.


2. When I trade bitcoin I do not feel like I can be 'flat' on the market. There are two positions:

a. BTC. I am betting on the rise of BTC, but if I'm wrong, I lose value in USD and am 'losing money'.
b. USD. In this case I am betting on the fall of BTC, but if I'm wrong, I lose value in potential coins to buy and am 'losing coins' or 'missing the train'. Since bitcoin is in a huge historic uptrend, the implications of losing coins are high. Some bitcoiners even measure their wealth in coins and not dollars. In addition, when I hold USD I am also taking risk and betting on the safety of the funds on an exchange (see a).

So there is no position where I am 'flat on the market' and not making some type of bet and am content on leaving. I am tied to the market 24/7 to make sure I'm in the right binary position. It is a highly stressful and obsessive situation which has wreaked havoc on my life.

 In forex, on the other hand, being in USD is always perfectly fine and you don't obsess about missed opportunity costs in one of the dozen currencies (or hundreds of other assets besides forex) you can trade.

[seleme]

I entered at 140, never bought back in 2011. wasn't really good with money back then and it wasn't easy to buy coins then.

Those gains were when we were around 650. I doubt I'd collect more than 200 times gains now even if I'd sold all alts I have at highest price and that's impossible with such bad liquidity.

Buying coins in 2011 was indeed hard.

In 2011 there was gox for defining the price, and a wire transfer to Japan would take months (no joke). Building your own GPU mining rig was actually considered the #1 easiest way to get BTC.
I ended up driving to the other side of the country (this was in 2012) to trade face to face with a community member who had the patience of sending euro's to Japan.

The growth in the economic foundations (not talking about $ here) we have seen with cryptocurrencies is just insane. How many new exchanges do we have today? How more professional are they? How many new bitcoin businesses? There is so much time and value invested in the usage of this distributed ledger i have a hard time believing this could be anywhere below the current BTC market cap.

A new economy is being built from the ground up because of new technology, and it's being built extremely quick.

To be honest I wasn't extremely interested back then. I was Internet marketer and have read about Bitcoin on some forums, came here once or twice, registered to ask some stupid question, checked Gox once or twice and that's it.

I did check it few months later though, I remember going on Gox and seeing 3-4$ price and saying meh, this is over 

But when I bought my first coins in March 2013. and when that bunch started to grow and grow with trading I got addicted.

[nanobrain]

I entered at 140, never bought back in 2011. wasn't really good with money back then and it wasn't easy to buy coins then.

Those gains were when we were around 650. I doubt I'd collect more than 200 times gains now even if I'd sold all alts I have at highest price and that's impossible with such bad liquidity.

Buying coins in 2011 was indeed hard.

In 2011 there was gox for defining the price, and a wire transfer to Japan would take months (no joke). Building your own GPU mining rig was actually considered the #1 easiest way to get BTC.
I ended up driving to the other side of the country (this was in 2012) to trade face to face with a community member who had the patience of sending euro's to Japan.

The growth in the economic foundations (not talking about $ here) we have seen with cryptocurrencies is just insane. How many new exchanges do we have today? How more professional are they? How many new bitcoin businesses? There is so much time and value invested in the usage of this distributed ledger i have a hard time believing this could be anywhere below the current BTC market cap.

A new economy is being built from the ground up because of new technology, and it's being built extremely quick.

That's a great point.  I checked out BTC back then but it was so difficult/convoluted to buy it didn't seem worth the hassle.  You had to be fully committed, so those who made that commitment were rewarded.

Those who couldn't be bothered (like me) will live with that regret on the ledger.

[dreamspark]

What alts are people in at the moment ? Theres been some wicked growth the last couple of days ?

[Meridius]

We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.

I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.

?? do you really think trading is that easy?

There's no easier way on the Earth to make money than crypto trading in normal circumstances.

there s could be some truth about it. but if you cant take BTC trading because of the FUD, you shouldn t try forex... There s nothing more difficult than forex trading.

But i guess you have to see it by yourself.

There are two reasons I want to leave btc trading and go to forex and stock trading:

1. My money is not safe on unregulated overseas crypto exchanges.


2. When I trade bitcoin I do not feel like I can be 'flat' on the market. There are two positions:

a. BTC. I am betting on the rise of BTC, but if I'm wrong, I lose value in USD and am 'losing money'.
b. USD. In this case I am betting on the fall of BTC, but if I'm wrong, I lose value in potential coins to buy and am 'losing coins' or 'missing the train'. Since bitcoin is in a huge historic uptrend, the implications of losing coins are high. Some bitcoiners even measure their wealth in coins and not dollars. In addition, when I hold USD I am also taking risk and betting on the safety of the funds on an exchange (see a).

So there is no position where I am 'flat on the market' and not making some type of bet and am content on leaving. I am tied to the market 24/7 to make sure I'm in the right binary position. It is a highly stressful and obsessive situation which has wreaked havoc on my life.

 In forex, on the other hand, being in USD is always perfectly fine and you don't obsess about missed opportunity costs in one of the dozen currencies (or hundreds of other assets besides forex) you can trade.

Which exchange you prefer for cryptos?

[rudius]

We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.

I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.

?? do you really think trading is that easy?

There's no easier way on the Earth to make money than crypto trading in normal circumstances.

there s could be some truth about it. but if you cant take BTC trading because of the FUD, you shouldn t try forex... There s nothing more difficult than forex trading.

But i guess you have to see it by yourself.

There are two reasons I want to leave btc trading and go to forex and stock trading:

1. My money is not safe on unregulated overseas crypto exchanges.


2. When I trade bitcoin I do not feel like I can be 'flat' on the market. There are two positions:

a. BTC. I am betting on the rise of BTC, but if I'm wrong, I lose value in USD and am 'losing money'.
b. USD. In this case I am betting on the fall of BTC, but if I'm wrong, I lose value in potential coins to buy and am 'losing coins' or 'missing the train'. Since bitcoin is in a huge historic uptrend, the implications of losing coins are high. Some bitcoiners even measure their wealth in coins and not dollars. In addition, when I hold USD I am also taking risk and betting on the safety of the funds on an exchange (see a).

So there is no position where I am 'flat on the market' and not making some type of bet and am content on leaving. I am tied to the market 24/7 to make sure I'm in the right binary position.

 In forex, on the other hand, being in USD is always perfectly fine and you don't obsess about missed opportunity costs in one of the dozen currencies (or hundreds of other assets besides forex) you can trade.

All of that makes sense to me. I have bought BTC and i m hodling in paper wallet. I don t want to day trade it. It s a beast. Even more than GBP/JPY...

What you want is day trading. Looking to make a living on it, i assume. That is the most difficult thing to achieve. I whish you luck, but looking at reactions on this forum 90% of people will not last long on forex trading.
Especially for news time ^^  forex news is a bitch, never forget that

[seleme]

We'd probably correct at about these levels anyway at some point. But the fact that any Chinese fart of the news can cause such moves is not doing any favour to Bitcoin and us who'd like to trade it. There's just no safety anymore that you could rely on charts, orderbook, momentum, fundamentals when any moment some shit could come from China and cancel all that.

I mean what's the point of waiting 3d MACD to cross when China could cause a hit to the price any moment.

?? do you really think trading is that easy?

There's no easier way on the Earth to make money than crypto trading in normal circumstances.

there s could be some truth about it. but if you cant take BTC trading because of the FUD, you shouldn t try forex... There s nothing more difficult than forex trading.

But i guess you have to see it by yourself.

There are two reasons I want to leave btc trading and go to forex and stock trading:

1. My money is not safe on unregulated overseas crypto exchanges.


2. When I trade bitcoin I do not feel like I can be 'flat' on the market. There are two positions:

a. BTC. I am betting on the rise of BTC, but if I'm wrong, I lose value in USD and am 'losing money'.
b. USD. In this case I am betting on the fall of BTC, but if I'm wrong, I lose value in potential coins to buy and am 'losing coins' or 'missing the train'. Since bitcoin is in a huge historic uptrend, the implications of losing coins are high. Some bitcoiners even measure their wealth in coins and not dollars. In addition, when I hold USD I am also taking risk and betting on the safety of the funds on an exchange (see a).

So there is no position where I am 'flat on the market' and not making some type of bet and am content on leaving. I am tied to the market 24/7 to make sure I'm in the right binary position. It is a highly stressful and obsessive situation which has wreaked havoc on my life.

 In forex, on the other hand, being in USD is always perfectly fine and you don't obsess about missed opportunity costs in one of the dozen currencies (or hundreds of other assets besides forex) you can trade.

Absolutely that too. It would be amazing if we could see some huge rally soon so I could become rich and then just leave some bitcoin position as investment, and trade some small part of my new riches on Forex/stocks from Monday til Friday because I love trading, it's exciting and I always dreamed about doing it.

[p0peji]

Extremely bullish patterns emerging 

[niothor]

So how many of you traders just lost money because of this China "news" thing? Come on, i know there must be a bunch of you here. Please tell me so i can laugh in your face.

You really enjoy it , right? =)))))