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

[octaft]

Come on, Chessnut, make a REAL case for us.  You have been chattering on cheerleading the market with bullish expectations. But posting these same charts over and over again and saying things like we will go up because triangles normally continue direction is ridiculously weak TA.  Make a real case for us. Tell us where the money came from to take us up. Tell us where that money is now. Tell us why we can capitulate on historically low volume. Tell us why this is really different than March. Make a real case. Answer all our bearish doubts with some real substance. We wanna believe that we can go into another bull market. Tell us why we really really should believe this without posting that one chart over and over. Give us some real meat, Chessnut!

Usually, I had been seeing Chestnut lose his cool b/c guys were pounding on him and beating him up, and in this instance, it  seems that Chestnut is coming out ahead...   GO Chestnut!!!   I am a fan of the underdog. hehehe 

well I thought that was pretty inflammatory what he said up there. 'cheerleading' 'REAL case'. Ofcoarse I have fundamental reasons, I have given them, but windjc forgets those. I hope he was just joking, but it's not funny.

I'm exaggerating a little bit, too..  yet I don't think that you need to explain further... we come to different conclusions and NO one really knows.  Certainly, he can provide his own analysis, and in the end, some bets may NOT pay off.. but that may NOT be the result of bad prediction, just inability to predict based upon the realities of actual manipulation that is taking place.. You can only go so far to predict the extent of the manipulation.

For all we know, Uncle Sam may have the 650K missing GOX coins and using those coins to undermine bitcoin...   Uncle sam has a better chance of undermining bitcoin, if they can widdle away public confidence while bitcoin is still in its infancy stages.  Additionally, some big banks may be willing to engage in some of this purposeful loss of money to manipulate the market downward... we do NOT really know for sure whether some manipulator(s), to the extent they exist may be operating at a loss in order to affect the price.

Sorry to be so conspiratorial.. but I think that there is only so much that you can do with TA lines.

"Uncle Sam" takes forever to get anything done. There is no way they could go from "bitcoin's aiight" to "let's undermine this shit" in like, 5 months, so I wouldn't worry too much about that.

[JayJuanGee]

Come on, Chessnut, make a REAL case for us.  You have been chattering on cheerleading the market with bullish expectations. But posting these same charts over and over again and saying things like we will go up because triangles normally continue direction is ridiculously weak TA.  Make a real case for us. Tell us where the money came from to take us up. Tell us where that money is now. Tell us why we can capitulate on historically low volume. Tell us why this is really different than March. Make a real case. Answer all our bearish doubts with some real substance. We wanna believe that we can go into another bull market. Tell us why we really really should believe this without posting that one chart over and over. Give us some real meat, Chessnut!

Usually, I had been seeing Chestnut lose his cool b/c guys were pounding on him and beating him up, and in this instance, it  seems that Chestnut is coming out ahead...   GO Chestnut!!!   I am a fan of the underdog. hehehe 

well I thought that was pretty inflammatory what he said up there. 'cheerleading' 'REAL case'. Ofcoarse I have fundamental reasons, I have given them, but windjc forgets those. I hope he was just joking, but it's not funny.

I'm exaggerating a little bit, too..  yet I don't think that you need to explain further... we come to different conclusions and NO one really knows.  Certainly, he can provide his own analysis, and in the end, some bets may NOT pay off.. but that may NOT be the result of bad prediction, just inability to predict based upon the realities of actual manipulation that is taking place.. You can only go so far to predict the extent of the manipulation.

For all we know, Uncle Sam may have the 650K missing GOX coins and using those coins to undermine bitcoin...   Uncle sam has a better chance of undermining bitcoin, if they can widdle away public confidence while bitcoin is still in its infancy stages.  Additionally, some big banks may be willing to engage in some of this purposeful loss of money to manipulate the market downward... we do NOT really know for sure whether some manipulator(s), to the extent they exist may be operating at a loss in order to affect the price.

Sorry to be so conspiratorial.. but I think that there is only so much that you can do with TA lines.

"Uncle Sam" takes forever to get anything done. There is no way they could go from "bitcoin's aiight" to "let's undermine this shit" in like, 5 months, so I wouldn't worry too much about that.

Uncle Sam is a complicated mechanism comprised of a variety of conflicting entities and ideologies.  Some of those entities are hidden and quasi-self-autonomous, until they are ratted out.. here and there.. and people are killed and persecuted for revealing some of the shenanigans within some govt agencies in the guise of national security.  I would NOT rest assured merely b/c the IRS says one thing and NY state govt says some variation and California  and Texas government says something else and FINRA says something else, and Dept. of Treasury says something else.

Have we had Homeland security and NSA chime in, yet?  or the FBI and/or CIA... and/or Dept of Justice..   Anyhow, my point is that there are a variety of conflicting regulatory and policing entities, and some of them are NOT going to disclose exactly what is their position concerning bitcoin... However, we can likely rest assured in some regards to have some positive outcomes, and we can also probably rest assured to some extent that the bitcoin market cap is still fairly small, so may NOT be perceived by some actors as a problem , but instead as a benefit to the economy and to their own self-interests to acquire and preserve wealth.

[ChartBuddy]

Explanation

[RooKIED]

Source: http://www.ustream.tv/recorded/46546292 --> 2:14:00
Smart comment and troll face ┗(°0°)┛

[keithers]

Look, man. My post wasn't sarcastic. I was ACTUALLY asking you to make a comprehensive case. The fact that you respond by saying that I am "offended" and "dreaming" and "wrong" and offered no further bull evidence makes you look the like the one who is defensive and scared. Yeah, I made a bad trade at 475 that I admitted to. Does that make the bull case stronger? Of course not. That was on me, not the market. I didn't follow my own rules in that one particular case.

But you are the one that is coming across as desperate. I don't give a flying f*** if we go up or down from here personally. I was simply asking you to make a comprehensive case. But you seem only interested in congratulating yourself on catching this wave up. Whatever.

I think you need to work on your sarcasam skills.

desperate? me? I bought at 484, remember? Im pretty comfy. Im on a roll.

so you dont like your bad trades being poked at? hmm interesting. I haven't made any promises, so I really wouldn't feel the same. if you want to come poke fun at me in a couple of days ill be here, but at this rate, Im not going to forget this either.

Ive made a comprehensive case but you wouldn't remember the details. you seem to have made up your mind.

lol. whatever. I have about 100x times more at stake on exchanges than you do. Of course I care. I can't afford to have some unreasonable market bias.

I dont want to poke fun at you. That's the point. I was just hoping you could offer more comprehensive analysis. I won't ask again.

No need to argue, I think we can all agree that we want btc to continuously rise to significantly higher levels than we are at right now. I for one don't believe that the current market price is representative of the mass adoption that we have seen over the past few months. Yes we have had a fair share of bad news out of China, and a few other countries, but the amount of money being poured into the ecosystem developing new apps and btc businesses is not yet reflected in our prices. Once more of these startups are up and running, it is simple logic that we will see a ton more daily transactions, and therefore see higher prices.

[ChartBuddy]

Explanation

[JorgeStolfi]

I was just hoping you could offer more comprehensive analysis. I won't ask again.

The whole story is right here.

Is there an explanation of that plot somewhere? (How can the number decrease? Because empty addresses are excluded?)
Thanks...

[Pruden]

I was just hoping you could offer more comprehensive analysis. I won't ask again.

The whole story is right here.

Is there an explanation of that plot somewhere? (How can the number decrease? Because empty addresses are excluded?)
Thanks...

That's number of addresses involved in a transaction per day. A little more than two addresses per transaction.

[JorgeStolfi]

That's number of addresses involved in a transaction per day. A little more than two addresses per transaction.

Thanks!

[ChartBuddy]

Explanation

[magicmexican]

12h/1d macD look like the huge dump is just around the corner

[Ashitank]

12h/1d macD look like the huge dump is just around the corner

roger that dump incoming , but I think we are slowly on way up to $800 or who knows new ATH by July/August/September time I guess.

[freebit13]

12h/1d macD look like the huge dump is just around the corner

But at least the 3d MACD has the first little sign of green since last year... finally! 

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[JayJuanGee]

I was just hoping you could offer more comprehensive analysis. I won't ask again.

The whole story is right here.

Is there an explanation of that plot somewhere? (How can the number decrease? Because empty addresses are excluded?)
Thanks...

That's number of addresses involved in a transaction per day. A little more than two addresses per transaction.

So the number reflects transactions on the blockchain, but NOT transactions on various exchanges that are occurring off of the block chain?

 Some day, it would be nice to have some additional transparency to include those other transactions, as well, maybe in separate chart(s)...

[windjc]

Look, man. My post wasn't sarcastic. I was ACTUALLY asking you to make a comprehensive case. The fact that you respond by saying that I am "offended" and "dreaming" and "wrong" and offered no further bull evidence makes you look the like the one who is defensive and scared. Yeah, I made a bad trade at 475 that I admitted to. Does that make the bull case stronger? Of course not. That was on me, not the market. I didn't follow my own rules in that one particular case.

But you are the one that is coming across as desperate. I don't give a flying f*** if we go up or down from here personally. I was simply asking you to make a comprehensive case. But you seem only interested in congratulating yourself on catching this wave up. Whatever.

I think you need to work on your sarcasam skills.

desperate? me? I bought at 484, remember? Im pretty comfy. Im on a roll.

so you dont like your bad trades being poked at? hmm interesting. I haven't made any promises, so I really wouldn't feel the same. if you want to come poke fun at me in a couple of days ill be here, but at this rate, Im not going to forget this either.

Ive made a comprehensive case but you wouldn't remember the details. you seem to have made up your mind.

lol. whatever. I have about 100x times more at stake on exchanges than you do. Of course I care. I can't afford to have some unreasonable market bias.

I dont want to poke fun at you. That's the point. I was just hoping you could offer more comprehensive analysis. I won't ask again.

No need to argue, I think we can all agree that we want btc to continuously rise to significantly higher levels than we are at right now. I for one don't believe that the current market price is representative of the mass adoption that we have seen over the past few months. Yes we have had a fair share of bad news out of China, and a few other countries, but the amount of money being poured into the ecosystem developing new apps and btc businesses is not yet reflected in our prices. Once more of these startups are up and running, it is simple logic that we will see a ton more daily transactions, and therefore see higher prices.

I tend to agree with you. I am very bullish on bitcoin long term. Short term however, I am still not convinced. When we ran up to 710, the fall from there started slowly and painstakingly. It took days for the enthusiasm to slowly ebb out of the market. We had tiny red candle after tiny red candle for practically an entire month before the downward slop gained momentum.

My fear is that the same will happen this time but even slower. That we make go down for the next 3 weeks and only be in the lower 400s.    

The market treats news the way it wants to hear it. So if the market goes down, there will be bad news to aid it. Have no idea what that bad news will be, but it will be sometime perceived as bad.

Perhaps the market is not going to retest 340. But it certainly doesn't look like its going up.  Here we are, the day all the fresh fiat was suppose to carry us higher and we are drip drip dripping downward.

We may be in a slow grind to nowhere for a while.

[lemonte]

Look, man. My post wasn't sarcastic. I was ACTUALLY asking you to make a comprehensive case. The fact that you respond by saying that I am "offended" and "dreaming" and "wrong" and offered no further bull evidence makes you look the like the one who is defensive and scared. Yeah, I made a bad trade at 475 that I admitted to. Does that make the bull case stronger? Of course not. That was on me, not the market. I didn't follow my own rules in that one particular case.

But you are the one that is coming across as desperate. I don't give a flying f*** if we go up or down from here personally. I was simply asking you to make a comprehensive case. But you seem only interested in congratulating yourself on catching this wave up. Whatever.

I think you need to work on your sarcasam skills.

desperate? me? I bought at 484, remember? Im pretty comfy. Im on a roll.

so you dont like your bad trades being poked at? hmm interesting. I haven't made any promises, so I really wouldn't feel the same. if you want to come poke fun at me in a couple of days ill be here, but at this rate, Im not going to forget this either.

Ive made a comprehensive case but you wouldn't remember the details. you seem to have made up your mind.

lol. whatever. I have about 100x times more at stake on exchanges than you do. Of course I care. I can't afford to have some unreasonable market bias.

I dont want to poke fun at you. That's the point. I was just hoping you could offer more comprehensive analysis. I won't ask again.

No need to argue, I think we can all agree that we want btc to continuously rise to significantly higher levels than we are at right now. I for one don't believe that the current market price is representative of the mass adoption that we have seen over the past few months. Yes we have had a fair share of bad news out of China, and a few other countries, but the amount of money being poured into the ecosystem developing new apps and btc businesses is not yet reflected in our prices. Once more of these startups are up and running, it is simple logic that we will see a ton more daily transactions, and therefore see higher prices.

Perhaps the market is not going to retest 340. But it certainly doesn't look like its going up.  Here we are, the day all the fresh fiat was suppose to carry us higher and we are drip drip dripping downward.

We may be in a slow grind to nowhere for a while.

I agree with your points but don't think new Fiat would have hit yesterday with the bank holidays, I did transfers to Kraken on Saturday and they haven't cleared yet and they are normally really quick.

[ChartBuddy]

Explanation

[dreamspark]

Just take this as an opportunity to turn off the computer, get out the house and do something productive. Set an alarm if you need but theres nothing to see here