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

[luckygenough56]

let's have a party weekend

[1715259798]

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[1715259798]

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[1715259798]

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[K~Ehleyr]

I have a feeling we'll break through $800 this weekend, no idea why & no technical analysis behind it. Just a gut feeling.

I hope you're right!  I got bitten by FOMO in the middle of the night and went on a shopping spree at Kraken 

[Torque]

800 must be some  magical fkn number, because it is so obvious that the price is being held below that until the new year comes.

What happens at 800? I would think that there really isn't any resistance left from here on up, but hey what do I know.

Every number seems to be magical for dee torque. Go figure!!!

Can't wait for dee torque's reaction when  we are passing quickly thru $1,234.56.   .

And then settling back on $1199.9999.   

[soullyG]

800 must be some  magical fkn number, because it is so obvious that the price is being held below that until the new year comes.

What happens at 800? I would think that there really isn't any resistance left from here on up, but hey what do I know.

Every number seems to be magical for dee torque. Go figure!!!

Can't wait for dee torque's reaction when  we are passing quickly thru $1,234.56.   .

And then settling back on $1199.9999.   

We'll have plenty of opportunity to stall at $888.888 and $999.999 too 

[abstract1]

I'm holding my coins because I don't even know where I would sell them now that IRS is looking at coinbase.

This might be a dumb question, but can the IRS go after people who bought coins from coinbase or can they only target people who sold to coinbase?

In other words I've only bought from coinbase and transferred to my wallet, I haven't sold there, so they can't assume I have something to pay capital gains on yet?

[European Central Bank]

I'm holding my coins because I don't even know where I would sell them now that IRS is looking at coinbase.

pay the tax and be happy? that sounds like a lot less work than spending the rest of your life sitting on paper gains or meeting weirdos and swapping cash in piss stained alleyways.

[JimboToronto]

Good morning BTCland.

Still more "lateral rise"... $786USD at Bitcoinaverage.

Waiting, waiting, waiting.

Yawn.

I'm holding my coins because I don't even know where I would sell them now that IRS is looking at coinbase.

I assume you're in the USA. Don't you have a BTC ATM somewhere nearby with reasonable rates? In Toronto there are dozens of ATMs some with buy/sell rates as low as 1%.

Even if you live in an outlying area, I'd think you'd make fairly regular trips to a larger city with at least one ATM.

[virasog]

I should have bought the dip.... So much missed $$$$. So much regret 
Ahh, the life of a trader is hard. (unless you hit it big and retire)

Just don't trade bitcoin right now. The best thing to do is to go long or take a long positional buy call and see for yourself how bitcoin price is going to break all the key resistance levels in 2017.

Everything is set for a massive bitcoin price surge.

[Ibian]

I'm holding my coins because I don't even know where I would sell them now that IRS is looking at coinbase.

Sell them to et moi. Well depending on volume, but if price and amount is right, we can work something out.

[DingDong87]

I'm holding my coins because I don't even know where I would sell them now that IRS is looking at coinbase.

Sell them to et moi. Well depending on volume, but if price and amount is right, we can work something out.

That would suck dong not to be able to sell your coin and have to rely on one exchange to do so.

[julian071]

The suspense is killing me!!

[Fakhoury]

The suspense is killing me!!

You are not alone my friend 

[JayJuanGee]

I'm holding my coins because I don't even know where I would sell them now that IRS is looking at coinbase.

The IRS looking at Coinbase should not be among the unexpected scenarios.  For years, we already knew that Coinbase was appearing to be a regulatory compliant exchange - and it first started in the USA.. so what is the surprise, whether the IRS is appearing to engage in a broad spread sweeping and fishing expedition or if they had flagged your return for some reason.  So, I don't really get your point and your seeming assertion that you don't have options or something has changed that causes you to hold your coins when you would prefer to sell.

 In the USA, you can sell through Gemini and Local Bitcoins and you can also engage in other direct forms of selling or using your coins through purchases.  You can also send your coins to other exchanges, and if you feel more comfortable holding some of those coins in dollars, then convert a portion (or all to dollars) - if you maybe anticipate converting back to bitcoins than you can do that through various exchanges as well.  There are a lot of options these days - if you seem to be so concerned about selling through Coinbase (and by the way, the IRS is likely mostly wanting to see the cashing out of the exchange to your bank rather than actual trading on the exchange (which can still be done through coinbase, if you prefer to use their services)..

I have a feeling we'll break through $800 this weekend, no idea why & no technical analysis behind it. Just a gut feeling.

Maybe the gut feeling has something to do with the price hovering in the mid $700s for a couple of weeks now and seeming to want to staircase step up and up and up... .. sure we could get a correction at any time if the buyers run out of dollars, but it does kind of feel as if some kind of breakout to the upside is imminent. ^tm

[JayJuanGee]

800 must be some  magical fkn number, because it is so obvious that the price is being held below that until the new year comes.

What happens at 800? I would think that there really isn't any resistance left from here on up, but hey what do I know.

Every number seems to be magical for dee torque. Go figure!!!

Can't wait for dee torque's reaction when  we are passing quickly thru $1,234.56.   .

And then settling back on $1199.9999.   

We'll have plenty of opportunity to stall at $888.888 and $999.999 too 

At this point, I can theoretically agree that $888.88 could be a bit of a sticking point (not that number exactly because I don't believe in that numerology nonsense), but really, it seems that $999.999 is going to pass as a non-issue.

[DingDong87]

The suspense is killing me!!

You are not alone my friend 

Don't die before the big day guys.

[harrymmmm]

800 must be some  magical fkn number, because it is so obvious that the price is being held below that until the new year comes.

What happens at 800? I would think that there really isn't any resistance left from here on up, but hey what do I know.

Every number seems to be magical for dee torque. Go figure!!!

Can't wait for dee torque's reaction when  we are passing quickly thru $1,234.56.   .

And then settling back on $1199.9999.   

We'll have plenty of opportunity to stall at $888.888 and $999.999 too 

At this point, I can theoretically agree that $888.88 could be a bit of a sticking point (not that number exactly because I don't believe in that numerology nonsense), but really, it seems that $999.999 is going to pass as a non-issue.

Not numerology.

I think these values are more like Schelling points - some value where traders can 'meet' without a bunch of communicating.

[yefi]

800 must be some magical fkn number, because it is so obvious that the price is being held below that until the new year comes.

What happens at 800? I would think that there really isn't any resistance left from here on up, but hey what do I know.

?

[JayJuanGee]

800 must be some  magical fkn number, because it is so obvious that the price is being held below that until the new year comes.

What happens at 800? I would think that there really isn't any resistance left from here on up, but hey what do I know.

Every number seems to be magical for dee torque. Go figure!!!

Can't wait for dee torque's reaction when  we are passing quickly thru $1,234.56.   .

And then settling back on $1199.9999.   

We'll have plenty of opportunity to stall at $888.888 and $999.999 too 

At this point, I can theoretically agree that $888.88 could be a bit of a sticking point (not that number exactly because I don't believe in that numerology nonsense), but really, it seems that $999.999 is going to pass as a non-issue.

Not numerology.

I think these values are more like Schelling points - some value where traders can 'meet' without a bunch of communicating.

Even though there are probably fewer than 10 exchanges that have sufficient volume to kind of affect bitcoin prices, there still remains too much variation in order for exact numbers to be "schelling points."  In other words, I doubt that the numbers determine the direction as much as the direction ends up honing in on numbers.

Accordingly, I agree that BTC prices can get caught in a kind of range and consolidation can converge upon certain price points, but those BTC price points are not known in advanced and are not predetermined points, but instead they end up being areas of resistance and support that is worked out over time through the influential impact of various players and some players being more powerful than others, but even sometimes some of the powerful players lose control over the situation and have to let the market push to whatever next price range, which is going to vary on the different exchanges, yet the longer that the prices remain without a lot of movement, they will begin to converge - whether that ends ups being at $769.99999 or at 771.222 or $777.7777  or $778.72 or some other coincidental, quasi-random unforeseeable, temporary and partially agreed to (by quasi-forced consensus) price point.

[mymenace]

800 must be some  magical fkn number, because it is so obvious that the price is being held below that until the new year comes.

What happens at 800? I would think that there really isn't any resistance left from here on up, but hey what do I know.

Every number seems to be magical for dee torque. Go figure!!!

Can't wait for dee torque's reaction when  we are passing quickly thru $1,234.56.   .

And then settling back on $1199.9999.  

We'll have plenty of opportunity to stall at $888.888 and $999.999 too  

At this point, I can theoretically agree that $888.88 could be a bit of a sticking point (not that number exactly because I don't believe in that numerology nonsense), but really, it seems that $999.999 is going to pass as a non-issue.

Not numerology.

I think these values are more like Schelling points - some value where traders can 'meet' without a bunch of communicating.

Even though there are probably fewer than 10 exchanges that have sufficient volume to kind of affect bitcoin prices, there still remains too much variation in order for exact numbers to be "schelling points."  In other words, I doubt that the numbers determine the direction as much as the direction ends up honing in on numbers.

Accordingly, I agree that BTC prices can get caught in a kind of range and consolidation can converge upon certain price points, but those BTC price points are not known in advanced and are not predetermined points, but instead they end up being areas of resistance and support that is worked out over time through the influential impact of various players and some players being more powerful than others, but even sometimes some of the powerful players lose control over the situation and have to let the market push to whatever next price range, which is going to vary on the different exchanges, yet the longer that the prices remain without a lot of movement, they will begin to converge - whether that ends ups being at $769.99999 or at 771.222 or $777.7777  or $778.72 or some other coincidental, quasi-random unforeseeable, temporary and partially agreed to (by quasi-forced consensus) price point.

top out about 1000-1050

dropping to 750-800

averaging out about the magical $888 signifying the Chinese triple fortune numerology conspiracy theory

for rocket ships and moons to start appearing

[European Central Bank]

bitfinex hit its just under three year high. is this gonna be another fakeout or something different? i never thought 800 would be such a beast to take out.