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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21435628 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (129 posts by 23 users deleted.)
michaelGedi
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March 24, 2015, 08:08:27 PM

Sentiment-wise, the fact that the longs haven't really budged much may indicate that they are the strong hands in this case.

Strong hands = profitable traders, experienced chart readers, well-capitalized, logical, non-emotional
Weak hands = newb traders, gamblers, simple indicator-based analysis, panicky, easy to shake out


That's a biggie.

Good traders are good because they know how to manage risk. They won't risk 100% or their account on a margin trade. 50% is max, so if you have 10btc in your trading account you risk 5. That's a 15btc position if you're on 3:1.

My reading of it is all based around an interpretation of the bitcoin "hodl" philosophy. At this stage my understanding is most of the recent bull run accumulation was done 220s - 240s (I don't have a chart, but the one below might help Smiley )

There is a quote here, at the bottom of this thread:

https://www.tradingview.com/v/RyzPvDn8/

Quote
This can't possibly bode well with respect to the 236 support. It's bound to be tested over the next 7 days, and judging from how weak BTC has been in the face of almost all support, I don't have high hopes. But I'm not selling my long position yet because in my experience, it is right after that when the thing turns around and RIPS. So basically I have no idea what to do.


This, as far as I can read, is the sort of mentality most bitcoiners have. It fits neatly with loss aversion: http://en.wikipedia.org/wiki/Loss_aversion


It also fits neatly with the fact that trading experiences, impatience and inability to trust ones decisions can all have a psychological toll (I know this from personal experience, as I'm sure most traders do from some stage in their lives).

I assume that most bitcoiners on the whole are not experienced traders, and they have had their past experiences mostly painted with success. The best strategy has been, by and large, to hold. These past lessons paint present actions. Also, psychologically the risk of securing a loss by selling is more damaging than holding on for the potential of future gains. In general statistically speaking people sell winners too soon, and hold losers too long.

I wonder what will happen around the 220 mark and below to all the longs. I noticed they twitching today at last...


In short I think you are giving the whales, and the masses, too much credit  Wink

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LFC_Bitcoin
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March 24, 2015, 08:12:27 PM

Cheap coins.
Buy people!!!!!
SkyValeey
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March 24, 2015, 08:20:20 PM

CCMF !

i told ya to open longs 2h ago :-P

always listen when bear say "open longs!" lol
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March 24, 2015, 08:27:02 PM

A little pump action don't hurt!   Cool

camolist
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March 24, 2015, 08:27:43 PM

24% yearly swaps on bitcoin

guess it's time to log into trezor and send some more coins over. good luck shorters

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March 24, 2015, 08:29:54 PM
Last edit: March 24, 2015, 08:40:02 PM by tarmi

24% yearly swaps on bitcoin




and 42 % on $.




yeap, another bear flag forming.
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No maps for these territories


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March 24, 2015, 08:33:06 PM

Bulltrap inside a beartrap inside a bulltrap?
Fatman3001
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March 24, 2015, 08:35:20 PM

$250!!!!

Wooo Hoooo !!!!!!

_AquaRegia
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March 24, 2015, 08:42:37 PM


Double bottom at 160 here we come
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March 24, 2015, 08:44:42 PM

$250!!!!

Wooo Hoooo !!!!!!



Double bottom at 160 here we come

Ahhhh, that's better.
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March 24, 2015, 08:52:31 PM

Don't you guys feel that all of this is just going downhill and that any kind of rebound will not come around any time soon?
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March 24, 2015, 08:54:04 PM

Don't you guys feel that all of this is just going downhill and that any kind of rebound will not come around any time soon?

No
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March 24, 2015, 08:57:30 PM

$250!!!!

Wooo Hoooo !!!!!!



LOL, the price drops $20 in the space of 24 hours, then bounces $5 and suddenly we're heading to the moon  Roll Eyes
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March 24, 2015, 08:58:10 PM

$250!!!!

Wooo Hoooo !!!!!!



LOL, the price drops $20 in the space of 24 hours, then bounces $5 and suddenly we're heading to the moon  Roll Eyes
Same can be said the other way around, drops 10 dollars and the end of bitcoin is near.
LFC_Bitcoin
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March 24, 2015, 08:58:33 PM

$250!!!!

Wooo Hoooo !!!!!!



LOL, the price drops $20 in the space of 24 hours, then bounces $5 and suddenly we're heading to the moon  Roll Eyes

BTC isn't going to the moon 'yet'.

But neither is it dead, double/single digits etc etc.
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1PwXK9TpmmaaqaZz2eqcLkPU2C1Fcva39G


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March 24, 2015, 08:58:50 PM

Coin
Explanation
EpStROM
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March 24, 2015, 08:59:19 PM

$250!!!!

Wooo Hoooo !!!!!!



LOL, the price drops $20 in the space of 24 hours, then bounces $5 and suddenly we're heading to the moon  Roll Eyes
Same can be said the other way around, drops 10 dollars and the end of bitcoin is near.



Too late
BrewCrewFan
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March 24, 2015, 09:03:47 PM

$250!!!!

Wooo Hoooo !!!!!!



LOL, the price drops $20 in the space of 24 hours, then bounces $5 and suddenly we're heading to the moon  Roll Eyes
Same can be said the other way around, drops 10 dollars and the end of bitcoin is near.



Too late

O fuck Dogecoin. I thank it for getting awareness out there but that is about it. They were one of the most annoying community out there for the longest.
howzar
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March 24, 2015, 09:05:59 PM

$250!!!!

Wooo Hoooo !!!!!!



LOL, the price drops $20 in the space of 24 hours, then bounces $5 and suddenly we're heading to the moon  Roll Eyes
Same can be said the other way around, drops 10 dollars and the end of bitcoin is near.



Too late

O fuck Dogecoin. I thank it for getting awareness out there but that is about it. They were one of the most annoying community out there for the longest.

Dogecoins are fine with me. And what do you mean by their community? Doges.org?
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March 24, 2015, 09:16:19 PM

$250!!!!

Wooo Hoooo !!!!!!



LOL, the price drops $20 in the space of 24 hours, then bounces $5 and suddenly we're heading to the moon  Roll Eyes

Been a rough day, had to give it a shot.
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