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

[oda.krell]

I base all my trading decision on the output of his 3 layer perceptron.

In fact, I don't even double check 'em, I just have a bot hooked straight to the output.

Profit so far: Over 9000%!

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[madmat]

I base all my trading decision on the output of his 3 layer perceptron.

In fact, I don't even double check 'em, I just have a bot hooked straight to the output.

Profit so far: Over 9000%!

9000% is just nothing, you began just one week ago ?

[CoinHamster]

Eh. I'm not that impressed. Textbook 'recovery on falling volume' so far.





I still think the more likely scenario is another dip into the 500s, followed by 1 or 2 weeks of low volume sideways at 560, maybe 590, then breakout.

a rising wedge is to be broken downward soon IMHO (4h bitstamp / huobi)
panic ahead? 
 

[ChartBuddy]

Explanation

[fonzie]

Rallye delayed. Fairy whale has better things to do right now.

[madmat]

Rallye delayed. Fairy whale has better things to do right now.

A lot of whales are american, they are just sleeping.

[ShroomsKit]

Eh. I'm not that impressed. Textbook 'recovery on falling volume' so far.





I still think the more likely scenario is another dip into the 500s, followed by 1 or 2 weeks of low volume sideways at 560, maybe 590, then breakout.

a rising wedge is to be broken downward soon IMHO (4h bitstamp / huobi)
panic ahead? 
 

I guess so. Someone will dump 100+ coins followed by the sheep who will totally fucking panic. Bringing us below 600 again.

[dnaleor]

we are working on the handle of a cup which dates back to early march.  be patient.  it takes a little time.  i am beginning to think that 700 will be no resistance at all.

I present the Matroska Cup & Handle pattern:

I agree. 700 will be a small hurdle, nothing more (maybe a pause intraday at 4h chart)

we will go towards 800 and see a pullback

this analysis seems to do very well

[TERA]

^ I don't think there would be a retracement at all at ATH and the retracement at 1000 would be very brief. The only really significant resistances on the chart are at 650 and 850. Once we defeat 650 we would battle 850 and if we defeated 850 we would be good to go.

[ChartBuddy]

Explanation

[spooderman]

^ I don't think there would be a retracement at all at ATH and the retracement at 1000 would be very brief. The only really significant resistances on the chart are at 650 and 850. Once we defeat 650 we would battle 850 and if when we defeated 850 we would be good to go.

#permabull

[JayJuanGee]

What is a 'weak hand'? Why is this type of penny stock terminology used in bitcoin? Does this imply that bitcoin is some type of investment scheme to hold rather than a currency to use?

It's a poker term long before "penny stocks." It means you lack confidence in you ability to play.

So it's a profit making game and not the future of money?

Is money not about profit?

Bitcoin is supposed to be about creating a decentralized network to change the way the world does finance and payments - not about getting all the bitcoin participants to be rich off of the successive waves of bitcoin participants because the unit value rose and having a contest about who made the most profits.

I invested to make money and to be able to reach some goals ( the volatility makes it easier than working hard to earn that money )... I literally don't give a fuck about the technology behind it, it is a cool innovation and all but I don't think it is a reason for to risk my life savings and be a "strong hand" when I could collect profits and not be a greedy bastard.... most of the time people here will attack you when you tell them that you are trading to make a profit or when you tell them you cashed out some of your holdings....

That is NOT why you were attacked.  You were attacked b/c you failed to articulate any plan that made sense to anyone beyond yourself.. and even then, NOT clear if it made sense.

[mmitech]

What is a 'weak hand'? Why is this type of penny stock terminology used in bitcoin? Does this imply that bitcoin is some type of investment scheme to hold rather than a currency to use?

It's a poker term long before "penny stocks." It means you lack confidence in you ability to play.

So it's a profit making game and not the future of money?

Is money not about profit?

Bitcoin is supposed to be about creating a decentralized network to change the way the world does finance and payments - not about getting all the bitcoin participants to be rich off of the successive waves of bitcoin participants because the unit value rose and having a contest about who made the most profits.

I invested to make money and to be able to reach some goals ( the volatility makes it easier than working hard to earn that money )... I literally don't give a fuck about the technology behind it, it is a cool innovation and all but I don't think it is a reason for to risk my life savings and be a "strong hand" when I could collect profits and not be a greedy bastard.... most of the time people here will attack you when you tell them that you are trading to make a profit or when you tell them you cashed out some of your holdings....

That is NOT why you were attacked.  You were attacked b/c you failed to articulate any plan that made sense to anyone beyond yourself.. and even then, NOT clear if it made sense.

https://bitcointalk.org/index.php?topic=656657.0

[ChartBuddy]

Explanation

[tarmi]

If we look at bitfinex swaps for a moment... USD-0.2016%-0.1272%-24,844,849.98 USD. Can someone gives an answer when those long will start to close if the price doesn't move up for a week? For sure we can't expect the price to go up much till the end of the auction... so when the rates on those longs will become to expensive?

I asked bitcoinica users the same question.

never really got an answer.

[wachtwoord]

If we look at bitfinex swaps for a moment... USD-0.2016%-0.1272%-24,844,849.98 USD. Can someone gives an answer when those long will start to close if the price doesn't move up for a week? For sure we can't expect the price to go up much till the end of the auction... so when the rates on those longs will become to expensive?

I asked bitcoinica users the same question.

never really got an answer.

I'm sure someone here can give an answer  

First let's see whether the price indeed stays constant until the auction.

Disclaimer: I never advice the use of leverage.

[NewLiberty]

This coming from the guy who analyzes charts and daytrades more than anyone lol.

I know that I'm a trader but I acknowledge that Bitcoin is about much more than trading. Underdog on the other hand, makes posts implying that every other bitcoin participant is a trader so everyone who is selling is doing so out of a weak trading strategy.

QFT

It is a good point you make here.  As one who is at least as much a user than a trader, the changing value of what is left over in the cashier's till is nice.  That this value improves more durably due to the volume of commerce than the volume of traders is a point that some might miss due to its authorship.

[boumalo]

How much do you guys use to trade?

I'd say a professional trader is someone whose main source of income is trading but you're not much of a serious professional trader at less than 70/80BTC of bankroll, what do you guys think?

[TERA]

How much do you guys use to trade?

I'd say a professional trader is someone whose main source of income is trading but you're not much of a serious professional trader at less than 70/80BTC of bankroll, what do you guys think?

During the peak of my trading before I started pulling out due to the volume decline, I was making 500BTC trades.

Nowadays I barely trade at all and don't even want to keep coins/funds on an exchange.

[ChartBuddy]

Explanation