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

[Wandererfromthenorth]

Solid lines bro.  

One little breach of the trend line on low volume while all other 6-7 points fit perfectly?
Yeah, totally not accurate.

[1715110396]

1715110396

[jeezy]

Solid lines bro.  

One little breach of the trend line on low volume while all other 6-7 points fit perfectly?
Yeah, totally not accurate.

The time to abandon was 2 days ago. If you knew anything about TA like you claim you would know that there is infact a good chance to get back on board if we stay in the current channel.

[ChartBuddy]

Explanation

[Wandererfromthenorth]

Solid lines bro.  

One little breach of the trend line on low volume while all other 6-7 points fit perfectly?
Yeah, totally not accurate.

The time to abandon was 2 days ago. If you knew anything about TA like you claim you would know that there is infact a good chance to get back on board if we stay in the current channel.

The chart suggests that you should sell/short as soon as we have a breakdown. As I said in my previous posts.
Breaks like these take BTC way lower usually. Very likely the dumps are not over.
Of course little bounces and dead cats are possible.


Price had to decide which way to go when we had to exit the big wedge, market decided down.

[Wandererfromthenorth]

just gonna leave this here 

[bitkilo]

Yesterday's Blockchain.info debacle (weak keys, sometimes same private keys given to different users; coins stolen, unknow losses) happened because someone decided to "improve"  the random number generator:
https://github.com/blockchain/My-Wallet/commit/98d5a7ca59ef04d06ac6aee468634b12975a0f5c

Wow, they done a good job so far keeping this out of the news.
Probably get bad press if picked up by business news or some mag like that.
I imagine it got fixed up pretty quick.

[Mickeyb]

I don't think we'll retest 275 in Dec.

Not even 300 if you are asking me..

[rebuilder]

it dumped because the price flatness asked for it.

Yeah, sure. 

Certainly seems like the most reasonable explanation to me. BTCUSD is a highly speculative market, where most action is from people looking to profit on price movements. The longer the price remains flat in such a market, especially when in a long trend up or down, the more uncomfortable traders get with their positions. Sooner or later, traders start to decide the price isn't moving their way and start to cut their losses, which convinces others with similar positions to do the same. I'd say what happened just now is exactly what you'd expect in a market, absent news-driven price movements.

[ShroomsKit]

What's with all the negativity? Why isn't this place one big party? Pretty much the whole year you people were begging for cheap coins!?

Oh wait, i get it. You wanted a flash crash and pick up a bunch of cheap coins and then expected the price to magically go back to 1000+ again.

And now that the price refuses to go back up it isn't so much fun anymore. Your cheap coins aren't cheap at all. Actually all those cheap coins you bought on the way down are expensive as hell.

So that's why all the cheering for cheap coins stopped.

Just create another deadline out of thin air. That will solve things.

[Wandererfromthenorth]

Guys, it's very simple really.


BTC price fluctuates, it slowly starts to draw a formation (a wedge for example), and eventually we have to exit this formation with either a breakout or a breakdown. The market has to decide then, so the sideways ends.

Forget about auctions, forget about other bullshit, the chart tells you everything you need to know (because all the bullshit is included in what the chart shows).
It's like this every time.

[InvestorPerson]

What's with all the negativity? Why isn't this place one big party? Pretty much the whole year you people were begging for cheap coins!?

Oh wait, i get it. You wanted a flash crash and pick up a bunch of cheap coins and then expected the price to magically go back to 1000+ again.

And now that the price refuses to go back up it isn't so much fun anymore. Your cheap coins aren't cheap at all. Actually all those cheap coins you bought on the way down are expensive as hell.

So that's why all the cheering for cheap coins stopped.

not cheap enough. i'm waiting for sub 300$ to pick up another 0.75btc

let's hope! 

[Dotto]

This is how I would expect the bitcoin price to move if it were to die a slow death...

Totally agree

[Wandererfromthenorth]

Bitcoin VS Ripple:

Fundamentals:  
-Ripple transactions are instant while BTC transactions are slow as balls (not viable as a currency to buy groceries, coffee "person-to person" or whatever)
-Ripple has no mining centralisation or 51% attacks (in fact, over time, Ripple becomes more and more decentralised (only distribution is centralised, transactions are not) until full decentralisation, while BTC becomes more and more centralised with all the mining cartels)
-Ripple will have low fees forever (while BTC fees will need to be raised as block reward approaches zero)
-Ripple inflation is controlled, while more than 14% of BTC inflation a year regardless of market condition is simply ridiculous.

But most importantly, you can put any currency in the Ripple network, but not in the Blockchain.
The Ripple network is what people talk about when they refer to the "Blockchain potential" but already there and without the problems of BTC and the Blockchain.



Technicals:
BTC dumps today, all the other shitcoins follow. Ripple does just fine and rallies in his XRP/BTC pair.

 

[findftp]

Guys, it's very simple really.


BTC price fluctuates, it slowly starts to draw a formation (a wedge for example), and eventually we have to exit this formation with either a breakout or a breakdown. The market has to decide then, so the sideways ends.

Forget about auctions, forget about other bullshit, the chart tells you everything you need to know (because all the bullshit is included in what the chart shows).
It's like this every time.

You are very right.
But before you can read and understand the charts you have to get passed the point of believing news is defining the market first.

Not everyone is willing to put the time into learning this, so they are defining the market as well.

That's why there are rich people and there are poor people.
Loosers buy the all time high.
Winners buy the bottom.

[Newbie1022]

Guys, it's very simple really.


BTC price fluctuates, it slowly starts to draw a formation (a wedge for example), and eventually we have to exit this formation with either a breakout or a breakdown. The market has to decide then, so the sideways ends.

Forget about auctions, forget about other bullshit, the chart tells you everything you need to know (because all the bullshit is included in what the chart shows).
It's like this every time.

It is largely TA driven, true. BUT, I think news/events/changes can dictate the direction it breaks out (either up or down). What Stolfi said is interesting because the break towards the downside might be somewhat invalid (like the break towards the upside towards $470 a few weeks back based on false/incomplete info). The situation a few weeks ago like this flipped dramatically. Will this? Or, since the downtrend has already begun will it snowball? Tough to call, in my opinion.

I'm favoring down, but I closed out my short in the high 340s and am just watching for the next show to drop before moving again.

[podyx]

Bear pennant on okcoin and huobi

[ChartBuddy]

Explanation

[Newbie1022]

Bear pennant on okcoin and huobi

"Da Beers!!"

[Erdogan]

I'm scared guys, what's going on? 

This is obviously good for bitcoinland, because now the bitcoinland inhabitants export more!!!

[Newbie1022]

250

Thoughts?

Remember we have 24M in longs that might get squeezed. I put odds at 2 to 5% by Christmas.