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

[edwardspitz]

Welcome back Willy Jr, buying 1.85 btc every 14 seconds on stamp 

Wow, "Little Willy" will buy a lot of BTC in a relative short time.

[dropt]

Welcome back Willy Jr, buying 1.84 btc every 14 seconds on stamp  

Mostly buying, sometimes selling.  He even shot up to 4.56 buy/sells there for a minute.

[serenitys]

Speaking of which

https://www.youtube.com/watch?v=hmbEuRzlhIs




...that has nothing to actually do with it but it was either this or an Orca and this is funnier.

Bonus: how many budding serial killers can you spot in this crowd? 

[freebit13]

I'm wondering if these strong weekend prices signal an increase in mass adoption as most regular people probably only have time for bitcoin after their regular Mon-Fri. I know the volume isn't up, but one would expect newcomers to be making smaller purchases.

[edwardspitz]

Welcome back Willy Jr, buying 1.84 btc every 14 seconds on stamp  

Mostly buying, sometimes selling.  He even shot up to 4.56 buy/sells there for a minute.

It is nice to know that you can always sell your coins to Willy Jr. 

[TERA]

I'm wondering if these strong weekend prices signal an increase in mass adoption as most regular people probably only have time for bitcoin after their regular Mon-Fri. I know the volume isn't up, but one would expect newcomers to be making smaller purchases.

Yes based on the latest intraday trading patterns we can deduce that mass adoption has suddenly occured. It wasn't mass-adopted the other week before the downtrend broke but now it is. The mass-adoption occured overnight.

[ChartBuddy]

Explanation

[freebit13]

I'm wondering if these strong weekend prices signal an increase in mass adoption as most regular people probably only have time for bitcoin after their regular Mon-Fri. I know the volume isn't up, but one would expect newcomers to be making smaller purchases.

Yes based on the latest intraday trading patterns we can deduce that mass adoption has suddenly occured. It wasn't mass-adopted the other week before the downtrend broke but now it is. The mass-adoption occured overnight.

I hope so... I 'introduced' my brother about 6 months ago and since the last week or so he's sending me price updates because he bought a couple of coins 

[TERA]

I educated some friends/family on bitcoin and kept them on call for a breakout. They were originally very interested and bullish about the fundamentals and were going to buy at $800 but I advised against it and to wait for the bull market to start. So I kept them in the loop all the way through the gox crash and through the (second) china crash. They were still interested most of the time. However, as we got to April/May, they started losing interest. I advised multiple times to buy at $450 but now things were looking too grim, "it is volatile - we thought it would be less volatile", "this thing is all over the map", "its been going down too long", "i dont feel the same way about bitcoin anymore", etc.  I alerted them again as the breakout at $460 occured and as it was passing $490 but they completely lost interest by that point.  I guess they will probably buy now at this point at $625. It is ridiculous the mentality of the average person to buy high and sell low.

[RobFordWotWot]

I educated some friends/family on bitcoin and kept them on call for a breakout. They were originally very interested and bullish about the fundamentals and were going to buy at $800 but I advised against it and to wait for the bull market to start. So I kept them in the loop all the way through the gox crash and through the (second) china crash. They were still interested most of the time. However, as we got to April/May, they started losing interest. I advised multiple times to buy at $450 but now things were looking too grim, "it is volatile - we thought it would be less volatile", "this thing is all over the map", "its been going down too long", "i dont feel the same way about bitcoin anymore", etc.  I alerted them again as the breakout at $460 occured and as it was passing $490 but they completely lost interest by that point.  I guess they will probably buy now at this point at $625. It is ridiculous the mentality of the average person to buy high and sell low.

hear hear

[freebit13]

Yeah, I think this is the long-term effect of the FUD that's been around, it's going to take a while for some to realize that it's not all true. I'll admit that I gave other friends some bad advice to buy in, in December (I had paid absolutely no attention to the markets back then, I'm more into the tech side), but I did tell them to only invest a small amount (what they wouldn't mind losing) and forget about it for at least a year... I know it will still pay off for them in the long run and they pay absolutely no attention to the market, so it's no stress either.

Others were not so keen (It's natural for people to be more protective of their money/ means of survival), so I printed them paper wallets with 0.01btc on them and told them to investigate a little in their own time, we'll see if they come around soon, I'm sure this little rise will get their interest.

I also think all this crying wolf is starting to wear off now and people are slowly waking up to the fact that bitcoin can't be banned... I can just imagine some sports fans arriving at their stadium only to find that they accept bitcoin for ticket payments and having a double-take, thinking "I thought they said that bitcoin stuff was illegal, what's going on here"... lol

I also think it's important to remember that we are still all early adopters, even those buying in today and bitcoin still has a long way to go until it's a household word.

[ChartBuddy]

Explanation

[Erdogan]

I educated some friends/family on bitcoin and kept them on call for a breakout. They were originally very interested and bullish about the fundamentals and were going to buy at $800 but I advised against it and to wait for the bull market to start. So I kept them in the loop all the way through the gox crash and through the (second) china crash. They were still interested most of the time. However, as we got to April/May, they started losing interest. I advised multiple times to buy at $450 but now things were looking too grim, "it is volatile - we thought it would be less volatile", "this thing is all over the map", "its been going down too long", "i dont feel the same way about bitcoin anymore", etc.  I alerted them again as the breakout at $460 occured and as it was passing $490 but they completely lost interest by that point.  I guess they will probably buy now at this point at $625. It is ridiculous the mentality of the average person to buy high and sell low.

Afterwards, you knew in advance.

[ChartBuddy]

Explanation

[Gimmelfarb]

i was thinking we might tap this 630 line again and drop, but we keep hanging here above 620. it's starting to feel kind of bullish. then again, i've been trapped this way in the past...

[TERA]

i was thinking we might tap this 630 line again and drop, but we keep hanging here above 620. it's starting to feel kind of bullish. then again, i've been trapped this way in the past...

This type of action usually means that a drop is coming but it will only be a temporary drop into a bull pennant consolidation before the next breakout. This type of action is not worth trading in a bull market espectially if your coins are in cold storage. Now if every MACD on every timeframe goes back down at that point THEN you may wish to consider selling.

[dreamspark]

Same as last weekend really, definately not worth trading it and be ready for the big green dildos when you least expect it.

[edwardspitz]

I educated some friends/family on bitcoin and kept them on call for a breakout. They were originally very interested and bullish about the fundamentals and were going to buy at $800 but I advised against it and to wait for the bull market to start. So I kept them in the loop all the way through the gox crash and through the (second) china crash. They were still interested most of the time. However, as we got to April/May, they started losing interest. I advised multiple times to buy at $450 but now things were looking too grim, "it is volatile - we thought it would be less volatile", "this thing is all over the map", "its been going down too long", "i dont feel the same way about bitcoin anymore", etc.  I alerted them again as the breakout at $460 occured and as it was passing $490 but they completely lost interest by that point.  I guess they will probably buy now at this point at $625. It is ridiculous the mentality of the average person to buy high and sell low.

Afterwards, you knew in advance.

Let us hope they start buying now I remember the dip to $340 and thinking "this is the end". I took me a long time @ $450 I started feeling just a bit confident that the fractal wouldn't repeat and that it might be a good time to buy.

Currently the sentiment is so bullish. I just witnessed how multiple "small" traders was taking out a buy wall that in principle was way too big for them. They could have waited and tried to use the wall to their advantage, but they just bought it. It took them an hour to get the job done Is now the time to be fearful or to hope that whoever put up the wall will soon need to buy back at a higher price? I think it best to always be fearful when trading Bitcoin

[ihaveaquestion]

I educated some friends/family on bitcoin and kept them on call for a breakout. They were originally very interested and bullish about the fundamentals and were going to buy at $800 but I advised against it and to wait for the bull market to start. So I kept them in the loop all the way through the gox crash and through the (second) china crash. They were still interested most of the time. However, as we got to April/May, they started losing interest. I advised multiple times to buy at $450 but now things were looking too grim, "it is volatile - we thought it would be less volatile", "this thing is all over the map", "its been going down too long", "i dont feel the same way about bitcoin anymore", etc.  I alerted them again as the breakout at $460 occured and as it was passing $490 but they completely lost interest by that point.  I guess they will probably buy now at this point at $625. It is ridiculous the mentality of the average person to buy high and sell low.

Afterwards, you knew in advance.

I think it best to always be fearful when trading Bitcoin

Yeah, it sounds like the best way to minimize your profits. You guys make me feel i do have an edge on most of you even if i don't believe in TA. I just think there is a 90%+ probability that we will be north 10 000$ by the end of 2015 and bought a lot of BTC. I believed a BTC for 600$ is a steal, and i bought, and again at 550$, 500$ to 425$ which is my lowest buying. Unfortunately i missed the fall to 340$ because i am in the wrong GMT. At 425$ it was an obvious buy, but you guys were posting random charts to say we might go a few bucks below so you have not bought for most of the daytraders. And now we are at 622$ and instead of double thinking and wondering if it is amazingly cheap, you are trying to buy at like 610$ risking to see 700$ overnight.

At some point many of you should realize hodlers have an edge on most of you, and especially you edward.

[dreamspark]

Its a fact that most traders lose money and buy and hold is the best stratergy for most. IF you can play the game though there are good profits to be made.