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

[JimboToronto]

The bears are getting hungry. The bells ringing and they are salivating, just like Pavlov's dogs. They're dreaming of the days of early and mid 2015, so they can accumulate and transform to bulls.

That's correct. They're living in a pipe-dream world of wishful thinking.

But I thought $5,000 was a sure thing? Where are all the $20,000 BTC advocates?

$5,000? $20,000? You're aiming way too low.

Noobs. Sigh.

[1614932024]

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[1614932024]

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[JayJuanGee]

But I thought $5,000 was a sure thing? Where are all the $20,000 BTC advocates?

If you are going to shit your pants any time Bitcoin experiences a 5-10% swing, maybe cryptocurrencies are not for you.

Yep.  shitting your pants should require at least a 40% threshold, and possibly even more.

[bitserve]

But I thought $5,000 was a sure thing? Where are all the $20,000 BTC advocates?

If you are going to shit your pants any time Bitcoin experiences a 5-10% swing, maybe cryptocurrencies are not for you.

Yep.  shitting your pants should require at least a 40% threshold, and possibly even more.

This days anything above 20-30% in less than 24 hours would be a "shitable" event. More so after all this years of stability and profits that probably have converted us into pussies.

[bones261]

But I thought $5,000 was a sure thing? Where are all the $20,000 BTC advocates?

If you are going to shit your pants any time Bitcoin experiences a 5-10% swing, maybe cryptocurrencies are not for you.

Yep.  shitting your pants should require at least a 40% threshold, and possibly even more.

This days anything above 20-30% in less than 24 hours would be a "shitable" event. More so after all this years of stability and profits that probably have converted us into pussies.

Maybe all we need is more fiber in our diets. Bran muffins anyone?

[BrewMaster]

But I thought $5,000 was a sure thing? Where are all the $20,000 BTC advocates?

If you are going to shit your pants any time Bitcoin experiences a 5-10% swing, maybe cryptocurrencies are not for you.

Yep.  shitting your pants should require at least a 40% threshold, and possibly even more.

This days anything above 20-30% in less than 24 hours would be a "shitable" event. More so after all this years of stability and profits that probably have converted us into pussies.

hmm!
maybe you need to check some charts. the 20-30% dips are not new at all.
here are some examples:
-16% dip 2017-6-12
-19% dip 2017-5-25
-13% dip 2017-5-11
-27% dip 2017-3-10
-22% dip 2017-1-5
...
-9% dip yesterday!

and these are just 1 day dips . bitcoin has always been volatile like this, with stable times in between.

[bitserve]

But I thought $5,000 was a sure thing? Where are all the $20,000 BTC advocates?

If you are going to shit your pants any time Bitcoin experiences a 5-10% swing, maybe cryptocurrencies are not for you.

Yep.  shitting your pants should require at least a 40% threshold, and possibly even more.

This days anything above 20-30% in less than 24 hours would be a "shitable" event. More so after all this years of stability and profits that probably have converted us into pussies.

hmm!
maybe you need to check some charts. the 20-30% dips are not new at all.
here are some examples:
-16% dip 2017-6-12
-19% dip 2017-5-25
-13% dip 2017-5-11
-27% dip 2017-3-10
-22% dip 2017-1-5
...
-9% dip yesterday!

and these are just 1 day dips . bitcoin has always been volatile like this, with stable times in between.

That's only two in the 20-30% threshold... And those were somewhat shittable yep. Didn't remember them to be higher than 20% though.

The last one that that really scared me was last year when the Bitfinex hack hapened. Kraken reacted VERY sharply AND I was using margin.

Do you have a list of those dips or do you remember it all that accurately?

[BrewMaster]

This days anything above 20-30% in less than 24 hours would be a "shitable" event.

...

That's only two in the 20-30% threshold... And those were somewhat shittable yep. Didn't remember them to be higher than 20% though.

The last one that that really scared me was last year when the Bitfinex hack hapened. Kraken reacted VERY sharply AND I was using margin.

Do you have a list of those dips or do you remember it all that accurately?

these are the biggest dips in the history of last year in 24 hours and yeah only 2 fall in the higher 20% range.
in more than 1 day the dips were sometimes bigger.

the bitfinex hack happened on 2016-8-2 and it was a 24% drop in one day.

[machasm]

But I thought $5,000 was a sure thing? Where are all the $20,000 BTC advocates?

If you are going to shit your pants any time Bitcoin experiences a 5-10% swing, maybe cryptocurrencies are not for you.

Yep.  shitting your pants should require at least a 40% threshold, and possibly even more.

This days anything above 20-30% in less than 24 hours would be a "shitable" event. More so after all this years of stability and profits that probably have converted us into pussies.

hmm!
maybe you need to check some charts. the 20-30% dips are not new at all.
here are some examples:
-16% dip 2017-6-12
-19% dip 2017-5-25
-13% dip 2017-5-11
-27% dip 2017-3-10
-22% dip 2017-1-5
...
-9% dip yesterday!

and these are just 1 day dips . bitcoin has always been volatile like this, with stable times in between.

Even with all those dips, apart from the very last one that we are in now, we have never been at a higher price!
Grow some balls people.

[STT]

Has Bitfinex got past that loss?

Some continued weakness I think, below $2500 I think shows lost momentum upwards.  Kraken has regained some of its trend, but only beating a previous downtrend line in its reversal.   Huobi looks like its forming some path down for now at least to a lower level of support.  Putting in a lower higher is more bearish looking but thats not yet completed just looks to be doing that.

I drew in a regular channel down for bitstamp, if it breaks out Im more positive then

[kludzins]

Downtrend confirmed

[e-coinomist]

wonder if anyone actually shat their pants due to bitcoin - lol

so this isn't "the flipping" that would have enabled the scene to survive, and evolve.

it's "the dump" instead, and soon death. Great!

[ft73]

I think that unless 2450-2450$ is strongly broken to the upside within hours we'll face some real correction ...

[BiteMyShinyMetalAss]

I think that unless 2450-2450$ is strongly broken to the upside within hours we'll face some real correction ...

Yeah, next 24h are critical!

[slap]

2450-2450$

Well, thats oddly specific.

[ft73]

2450-2450$

Well, thats oddly specific.

Sorry  
I meant 2450-2470$.
A few key levels cross there.

[JayJuanGee]

wonder if anyone actually shat their pants due to bitcoin - lol

so this isn't "the flipping" that would have enabled the scene to survive, and evolve.

it's "the dump" instead, and soon death. Great!

The "flippening" has turned into the "dumpening," and possibly turning into some kind of "decoupling."

Maybe sub $100 is within reasonable reach for ETH, and would BTC be brought down with it? 

We have had a bit more than a 20% correction in bitcoin and nearly a 50% correction in ETH

But maybe it is too soon to write off ETH and to attempt to assert that it's price performance is not connected with BTC?

We've been surprised by this in the past, where ETH has recovered and gotten pumped further than BTC - however, this time there may be a certain number of ICOs that are cashing out of their ICOs through ETH.  I don't know if we can write it off yet, unless some other shoe will drop in terms of some exploited bug that would take it back down it's preforking price around $20 - which does not seem too likely because just two weeks ago, the flippening was going to happening, then then the bitcoin price parity was going to happen, so maybe some of the 14 year olds have some unforeseen staying power?

These dynamics and "happenings" are going to have BTC pricing effects, no?

[ft73]

Guess what will happen when Hourly RSI will meet the greed dashed line again  



EDIT: painting a bearish pennant so far.

[JayJuanGee]

2450-2450$

Well, thats oddly specific.

Sorry  
I meant 2450-2470$.
A few key levels cross there.

Nah.. there is too much going on in this space, and what you say - breaking upwards at this point is not that important.

We have too much going on in the alt coin space that seems to be placing various additional downward price pressures on BTC... but in the end, we are likely going to have some decoupling and some ability to for bitcoin to resume its expected course of action.

Maybe we could experience a double bottom around $2120 and still be o.k. in terms of continuing upwards?

If we break below $2k, on the other hand, then maybe $1500 would reasonably within play... even though it may be a bit difficult to get there, even with the downwards movements of the alt coins and ICO space.

[Denker]

Downtrend confirmed

What?!
Do you know how a trend is defined?
We're still in an uptrend!
You need to be more specific! What timeframe you're talking about?
Weekly and monthly, even daily zoomed out we're still bullish!

[JimboToronto]

Downtrend confirmed

What?!
Do you know how a trend is defined?
We're still in an uptrend!
You need to be more specific! What timeframe you're talking about?
Weekly and monthly, even daily zoomed out we're still bullish!

I think he was being sarcastic.