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

[Tzupy]

...
I'm surprised you're actually still trading on Bitfinex. It has more problems that MtGox had.

I have a Kraken account, but am not currently using it. The level of complaints about reliability seems higher for Kraken...

[1714799336]

1714799336

[rpietila]

we'll be at >500 soon, but <400 sooner.

Fibonacci rules as always. Target is 380, but the situation is so bullish I am not trading off chances. Just wait until we get the 6 consecutive weekly green candles and then try to time the top. 20% daily rise is pretty good sign, 30% (on top of the exponential rise) is a sure sign.

[BlindMayorBitcorn]

Follow the weekly Bitstamp chart. If it closes green for 6 times in a row, we are on bubble territory (currently 4 consecutive weekly greens). If we instead end this week in red, there is nothing to worry.

IF we get 6 greens, this means we can go on for a long time still but watch for a blowoff top and trade accordingly.

The methodology worked perfect in the latest 500 spike, and you can easily check a very good match with all previous bubbles as well.

First TERA and now Risto- we're getting the band back together!

[macsga]

we'll be at >500 soon, but <400 sooner.

Fibonacci rules as always. Target is 380, but the situation is so bullish I am not trading off chances. Just wait until we get the 6 consecutive weekly green candles and then try to time the top. 20% daily rise is pretty good sign, 30% (on top of the exponential rise) is a sure sign.

I concur; more than 500 within the week (maybe later tonight).

[sx100]

...
I'm surprised you're actually still trading on Bitfinex. It has more problems that MtGox had.

I have a Kraken account, but am not currently using it. The level of complaints about reliability seems higher for Kraken...

What sort of complaints? Is it only can't log in, and trading engine complaints, or are there also complaints about withdrawals and deposits?

The kraken does leverage so getting locked out when you need to close your position is unacceptable. If your withdrawals also get frozen then that exchange shouldn't have been selected to help reimburse the gox coins.

[JayJuanGee]

Shorts are up 3.5k since the top. Longs at 22mil$.

Outwith Dec 2015, Shorts on BFX have never been so low in over a year.

Longs are also relatively low, but you would have to go all the way back to March 2015 to find a period where long positions on BFX were comfortably lower than they currently are.

But probs we need to be looking at CNY markets to get a better picture of this, as it is China that is driving BTC at the time being.

Don't get correlation and causation mixed up. 

There may be some contribution of Chinese exchanges to BTC's price movements, but really overall Chinese exchanges are lacking a certain level of credibility to be true drivers of BTC prices in any kind of meaningful way.

[criptix]

...
I'm surprised you're actually still trading on Bitfinex. It has more problems that MtGox had.

I have a Kraken account, but am not currently using it. The level of complaints about reliability seems higher for Kraken...

I only noticed slow consumer support in times of heavy volumes but overall it is the best european exchange.

[ErisDiscordia]

Follow the weekly Bitstamp chart. If it closes green for 6 times in a row, we are on bubble territory (currently 4 consecutive weekly greens). If we instead end this week in red, there is nothing to worry.

IF we get 6 greens, this means we can go on for a long time still but watch for a blowoff top and trade accordingly.

The methodology worked perfect in the latest 500 spike, and you can easily check a very good match with all previous bubbles as well.

First TERA and now Risto- we're getting the band back together!

no better indicator of a bull market than old-timers becoming active again

[JayJuanGee]

I think this has hit the bottom and it is time for a nice fat bounce. Some traders will have hard time to cover their shorts on Bitfinex.

not much shorts to cover

I tried to close my short, but something is wrong at Bitfinex, didn't properly execute, so my profit is diminishing. Also doesn't look right at Bitcoinwisdom.

That exchange just seems to be too fucked.  They seem to have too many instances of "incidents," especially as soon as volume and/or volatility picks up, right when you need them to have a solid platform.

[JayJuanGee]

We are here. Long way to go is ahead.

It is very difficult exactly to determine where we are at, while we are in it, and surely perspective regarding where we are "at" will depend on your view of the future of BTC.... to me, it kind of seems that on that particular diagram, we could be in the early "media attention" stage, approximately.

[JayJuanGee]

Wait, so we're below 440 AGAIN?
How is this possible?!

You are a fucking goofball, and each of your posts bring further supporting evidence of such a reasonable conclusion.

 

[cefen6777]

the price went down a bit again i guess its the time to buy right now

[ChartBuddy]

Coin



Explanation

[PYramid Head]

We are here. Long way to go is ahead.

We are in the first bear trap, buy while you can or regret later

[billyjoeallen]

Follow the weekly Bitstamp chart. If it closes green for 6 times in a row, we are on bubble territory (currently 4 consecutive weekly greens). If we instead end this week in red, there is nothing to worry.

IF we get 6 greens, this means we can go on for a long time still but watch for a blowoff top and trade accordingly.

The methodology worked perfect in the latest 500 spike, and you can easily check a very good match with all previous bubbles as well.

First TERA and now Risto- we're getting the band back together!

no better indicator of a bull market than old-timers becoming active again

Hold on there, Pardner.  Don't confuse cause and effect. All that means is the price is higher.  The bull market isn't really back until the ATH is topped.  That won't happen without a scaling fix because long before we get to four digits, we'll slam into the 1MB blocksize limit. 

When the blocks are totally full, the fees could go up 100X what they are now because there is only enough capacity for ~600,000 transactions per day.  That's it, no matter how high the fees go, there won't be enough capacity for each of us to have even one xation/day each. NO MATTER HOW HIGH THE FEES GO.

You don't wait until the snow starts falling before you start chopping firewood. It's coming.

[JayJuanGee]

we'll be at >500 soon, but <400 sooner.

Adam... hahahahahahahahaha         


I think that I kind of understand what you are saying; however, your sentiment is getting a little bit more difficult to detect, especially since you seem to have been recently employing various and/or strategically placed reverse psychology posts.  maybe insert bald headed hair pulling gif here to represent my current state of being.   

[BlindMayorBitcorn]

Follow the weekly Bitstamp chart. If it closes green for 6 times in a row, we are on bubble territory (currently 4 consecutive weekly greens). If we instead end this week in red, there is nothing to worry.

IF we get 6 greens, this means we can go on for a long time still but watch for a blowoff top and trade accordingly.

The methodology worked perfect in the latest 500 spike, and you can easily check a very good match with all previous bubbles as well.

First TERA and now Risto- we're getting the band back together!

no better indicator of a bull market than old-timers becoming active again

Hold on there, Pardner.  Don't confuse cause and effect. All that means is the price is higher.  The bull market isn't really back until the ATH is topped.  That won't happen without a scaling fix because long before we get to four digits, we'll slam into the 1MB blocksize limit. 

When the blocks are totally full, the fees could go up 100X what they are now because there is only enough capacity for ~600,000 transactions per day.  That's it, no matter how high the fees go, there won't be enough capacity for each of us to have even one xation/day each. NO MATTER HOW HIGH THE FEES GO.

You don't wait until the snow starts falling before you start chopping firewood. It's coming.

I imagine you've fallen into some sort of math hole here.

[peonminer]

We are here. Long way to go is ahead.

We are in the first bear bull trap, buy sell while you can or regret later

ftfy

[funbarrel]

again the price fell though i believe it will come back after a few days

[billyjoeallen]

Follow the weekly Bitstamp chart. If it closes green for 6 times in a row, we are on bubble territory (currently 4 consecutive weekly greens). If we instead end this week in red, there is nothing to worry.

IF we get 6 greens, this means we can go on for a long time still but watch for a blowoff top and trade accordingly.

The methodology worked perfect in the latest 500 spike, and you can easily check a very good match with all previous bubbles as well.

First TERA and now Risto- we're getting the band back together!

no better indicator of a bull market than old-timers becoming active again

Hold on there, Pardner.  Don't confuse cause and effect. All that means is the price is higher.  The bull market isn't really back until the ATH is topped.  That won't happen without a scaling fix because long before we get to four digits, we'll slam into the 1MB blocksize limit. 

When the blocks are totally full, the fees could go up 100X what they are now because there is only enough capacity for ~600,000 transactions per day.  That's it, no matter how high the fees go, there won't be enough capacity for each of us to have even one xation/day each. NO MATTER HOW HIGH THE FEES GO.

You don't wait until the snow starts falling before you start chopping firewood. It's coming.

I imagine you've fallen into some sort of math hole here.

Maybe I have. Check my math: 7TPS. 60 sec/min. 60 min/hr. 24 hr/day.

7*60*60*24= 604,800 transactions/day  Am I missing something?