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

[macsga]

It's quite embarrassing that we can't seem to get above (and stay above) 400 dollars.

its ok 350 is still fair price atm

Being here and monitoring the price for about 2+ years now, I can say that the ''patience game'' is not a pleasant one. Causes traders using to reason the price, are not always based on true facts, not to mention the bear-trolls who are using the situation to scare people away, therefore adding more drama to the situation. If you're not patient, or want a quick buck, get out of here asap. If you're here for the long ride, sit back and relax. You will eventually enjoy the ride...

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[Newbie1022]

it really amazes me that even with the microsoft announcement, the price has remained where it is. what the heck is holding it down?

I was surprised, too. BUT, we had not completed a downtrend, the auction didn't seem to have gone wonderfully (dispersed holders so better potential for at least partial dumps), a lot of money has jumped into the XRP bubble, people who had losses on the year and substantial income would be smart to sell before year's end to write off losses, and, finally, a lot of the bulls and bagholders shot their load.

So, it can be traced to logical events. Even so, I thought it would have at least pumped higher even if it didn't sustain it. The underlying market is even worse than we imagined. There's nobody on the other side of the line.

[LFC_Bitcoin]

It's quite embarrassing that we can't seem to get above (and stay above) 400 dollars.

its ok 350 is still fair price atm

Being here and monitoring the price for about 2+ years now, I can say that the ''patience game'' is not a pleasant one. Causes traders using to reason the price, is not always based on true facts, not to mention the bear-trolls who are using the situation to scare people away, therefore adding more drama to the situation. If you're not patient, or want a quick buck, get out of here asap. If you're here for the long ride, sit back and relax. You will eventually enjoy the ride...

I've got quite a decent amount of BTC in cold storage.
I've never sold any & I don't plan to, you have to take a risk in life hey?
Maybe I'll HODL for 10 years & see what happens.

I'm not going to lie though, some days I feel like cashing them all in & going on a 2 month Caribbean Cruise

[arklan]

it really amazes me that even with the microsoft announcement, the price has remained where it is. what the heck is holding it down?

Day traders.

Dumpers.

The fact that probably not even 1 out of 100 people in the general public use BTC.

i'd be surprised if it was even 1 in ten thousand.

[macsga]

It's quite embarrassing that we can't seem to get above (and stay above) 400 dollars.

its ok 350 is still fair price atm

Being here and monitoring the price for about 2+ years now, I can say that the ''patience game'' is not a pleasant one. Causes traders using to reason the price, is not always based on true facts, not to mention the bear-trolls who are using the situation to scare people away, therefore adding more drama to the situation. If you're not patient, or want a quick buck, get out of here asap. If you're here for the long ride, sit back and relax. You will eventually enjoy the ride...

I've got quite a decent amount of BTC in cold storage.
I've never sold any & I don't plan to, you have to take a risk in life hey?
Maybe I'll HODL for 10 years & see what happens.

I'm not going to lie though, some days I feel like cashing them all in & going on a 2 month Caribbean Cruise

That's what guys like LambThief are here for. Don't let em have it

[NotLambchop]

it really amazes me that even with the microsoft announcement, the price has remained where it is. what the heck is holding it down?

A better question:  what the heck was propping it up until now?

Mugs like us?

Can you honestly say you kept buying all the way to $1200?  I'm guessing it was something different from us.
@macsga: Dementia-related agitation and paranoia are treatable.  Seek help.

[noobtrader]

It's quite embarrassing that we can't seem to get above (and stay above) 400 dollars.

its ok 350 is still fair price atm

Being here and monitoring the price for about 2+ years now, I can say that the ''patience game'' is not a pleasant one. Causes traders using to reason the price, is not always based on true facts, not to mention the bear-trolls who are using the situation to scare people away, therefore adding more drama to the situation. If you're not patient, or want a quick buck, get out of here asap. If you're here for the long ride, sit back and relax. You will eventually enjoy the ride...

I've got quite a decent amount of BTC in cold storage.
I've never sold any & I don't plan to, you have to take a risk in life hey?
Maybe I'll HODL for 10 years & see what happens.

I'm not going to lie though, some days I feel like cashing them all in & going on a 2 month Caribbean Cruise

i agree, i hold at lest half of all my bitcorn for eternity and will sell teh rest above fair price to buy again near or below fair price.  

[LFC_Bitcoin]

it really amazes me that even with the microsoft announcement, the price has remained where it is. what the heck is holding it down?

A better question:  what the heck was propping it up until now?

Mugs like us?

Can you honestly say you kept buying all the way to $1200?  I'm guessing it was something different from us.

The average cost of my stash is just over 300 GBP per BTC (about 470 dollars).

So I'm obviously not doing very well atm lol.

[Newbie1022]

it really amazes me that even with the microsoft announcement, the price has remained where it is. what the heck is holding it down?

A better question:  what the heck was propping it up until now?

Mugs like us?

Can you honestly say you kept buying all the way to $1200?  I'm guessing it was something different from us.
@macsga: Dementia-related agitation and paranoia are treatable.  Seek help.

JJG bought at 1200... then again at 660. Some people are brilliant at calling bubble tops... they just call it the wrong way.

[NotLambchop]

...
JJG bought at 1200... then again at 660...

I'd say 30% chance he really did, more likely just trolling us.  

[mymenace]

Explanation

buy wall still there, btc trading doing what it is meant to do

looks like sell wall has increased over the last 2 weeks

alot of short term profit by technical traders

[findftp]

it really amazes me that even with the microsoft announcement, the price has remained where it is. what the heck is holding it down?

You should know by now that the market doesn't move by single news items.
News is constantly moving the market. Some buy people buy bitcoin instantly, some others want to think about it for a few days and discuss it with other people.
The traders that are able to move the market in milliseconds are not affected by this news, because it is already priced in.

Heck, the fact that bitcoin will be GRC is already priced in for me personally because I'm a long term holder and only spend my coins when they are 100x worth than what they are now.

[janos666]

The is a bearish divergence in 1h MACD, and 4h MACD is still negative, while its divergence may flip to red soon.
A triangle is going to break soon, but there is a bit of upward momentum, so I'm not sure. But the next 6h are locally critical.

I am still expecting a >=10$ positive spike before any massive dump (short-stop-hunting, bulltrap, whatyacallit/ever).
Both 4h and 1d MACD are undecided in my opinion. The 1d S-RSI is heading up from ~0, 4h S-RSI is halfway down already during low volume/drop.

[ChartBuddy]

Explanation

[sherbyspark]

The is a bearish divergence in 1h MACD, and 4h MACD is still negative, while its divergence may flip to red soon.
A triangle is going to break soon, but there is a bit of upward momentum, so I'm not sure. But the next 6h are locally critical.

I am still expecting a >=10$ positive spike before any massive dump (short-stop-hunting, bulltrap, whatyacallit/ever).
Both 4h and 1d MACD are undecided in my opinion. The 1d S-RSI is heading up from ~0, 4h S-RSI is halfway down already during low volume/drop.

What massive dump? I don't think with the good news these days, there will be a dump soon.

[JorgeStolfi]

[ ... ] probably not even 1 out of 100 people in the general public use BTC.

i'd be surprised if it was even 1 in ten thousand.

I posted earlier that, as of 10/Sep/2014, there were only ~650'000 addresses in the blockchain with 0.1 BTC or more.  I would think that it is an upper bound to the number of people who "use BTC" in any meaningful sense.   That is indeed roughly 1 in 10'000, worldwide.

The Bank of England published a report of bitcoin a couple of months ago.  The fellow who wrote the report estimated the number of users in the UK.  I forgot the number, but it was less than 50'000.  That would be less than 1 in 1000 UK citizens, is that right?

[conspirosphere.tk]

I posted earlier that, as of 10/Sep/2014, there were only ~650'000 addresses in the blockchain with 0.1 BTC or more.  I would think that it is an upper bound to the number of people who "use BTC" in any meaningful sense.   That is indeed roughly 1 in 10'000, worldwide.

Could be because we're the new elite, gentlemen.

[LFC_Bitcoin]

Hypothetically if somebody offered you guys 5000 USD per BTC that you own (and you had to sign an agreement saying you wouldn't buy any more, that's it, your participation in BTC is over) would you take it right now?

[ChartBuddy]

Explanation

[sherbyspark]

Hypothetically if somebody offered you guys 5000 USD per BTC that you own (and you had to sign an agreement saying you wouldn't buy any more, that's it, your participation in BTC is over) would you take it right now?

If I own 1000 BTC, and I am offered that. I would take it
Not sure if my wife would stop buying anymore.