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

[pfrtlpfmpf]

I must say, i changed from Polo (no support, and the withdrawal limit is a joke) to Bitfinex, and i´m not looking back !
Offtopic, i know, but just wanted you guys to know . . . Those little Hongkongers are great !

This the wall observer thread, or not ?

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[jojo69]

ultimately there is always a need of masses of slaves, ideally voluntary slaves, blind to their chains.

No.

It is true that this used to be the case, but now we are right on the cusp of being able to automate most of the services the rich require.  This, of course, renders the mass of excess human population nothing more than a troublesome liability.

The trick going forward is figuring out how to not get culled.

[conspirosphere.tk]

The trick going forward is figuring out how to not get culled.

At the top of the list of To-be-culled are the rebels and the out of control, so try to stay underground as a general rule.

[JayJuanGee]

From what I have seen, it seems as though the skyward shots are directly preceded by two or more weekly red candles.  I think it's time to strap in again. HODLn'!

edit: sorry...cant attach an image since I'm on an old tablet with bad memory (both of ours)

Well you are NOT fucking going to get two or more preceding weekly red candles, because currently, under present facts, we only have one preceding red weekly candle and we are in the middle of a second weekly candle that happens to currently be red (and price needs to go above $4250 for this week's currently red candle to transform into green - and we are only about half way into this week's candle)...


Your point about returning up on a kind of rocket (from here), may or may not happen...  I would not be surprised either way, at this point.  It seems a bit unclear at this point whether the bears are exhausted and whether enough FUD has been effectively disseminated in order to cause regular folks to panic dump, after already going through an approximately 25% correction...  as we stand, currently.

 You speak as if I WANT 2 weekly red candles and I don't really care so much for the red as I prefer the green.  Also, what if my  chart is set up such that a week started on August 28th?  I am seeing red... More specifically, 2 red weekly candles and if those lead to a rocketing skyward if only by coincidence, I will still celebrate.
 

You don't select your own week.. we tend to use standards.. .such as bitstamp and bitcoinwisdom...   If you are using some other standard, then you should point that out in order that others understand what you are saying.  right?

 If I pull up bitcoinwisdom and select weekly, I see two red candles and one is getting bigger.  What do you see?!

O.k.. at least we are on the same page, then.

One red candle is for last week and the other red candle is for the week that we are currently in.

The weekly candle on that platform closes at midnight sunday Universal Time (UT).

By the way, it would not be accurate to talk about past weekly candles when referring to a current week, even if odds might be pretty decent that this week will turn out red.  Actually the odds of this week's candle remaining red are greater now, then they were when you had made the first post in this thread of discussion.

Thanks, I understand now.  I'm not a trader; I'm a hodler.  I know just enough about a technical chart to be dangerous.

 So, we got our (at least) 2 weekly red candles.   Moon in 3...2...1...

Yes. Agreed.  It appears that last week's candle closed at about $3670, so this week's candle will remain green, unless the price drops below $3670, and at this point, it seems pretty decent odds that this week's candle will be green, no?  We still have nearly 6 days, to find out (and we know that a lot can happen in bitcoinlandia in 6 days -    )

By the way, xhomerx10, I understand that you were talking about the color of the weekly candles, and I have had other threads of discussions with posters about trade volume too, and how that trade volume is depicted in weekly candles.

And, part of my point has frequently been that we will frequently come to faulty conclusions if we attempt to look at trade volume in short intervals, even on the daily.  However, the weekly candles (Stamp on bitcoinwisdom), show that trade volume has been  up for about 20 weeks in a row (sure there were a couple of less dramatic volume levels in there but overall UP).  So we see that there was a bit of an extra trade volume spike in the past couple of weeks, and usually trade volume will not necessarily just suddenly drop off - however, if we were to see a sudden drop off and prices were to trickle up this week, then that could be a bullish sign that bears are kind of exhausted of the battle - yet we know that some of the fuck-twad bears might be connected to a large amount of unlimited printable dollars, but still sooner or later, we could run out of folks willing to sell their coins. 

My thinking of the most logical conclusion is that this price battle and decent trade volume is going to continue in the near future - yet since I continue to have few clues about the intermediate price direction, I continue to prepare for either direction.... and I would not be surprised by a trickling up and then some kind of additional attempts to keep the price from going up, which may be tough for bears to battle off, even if they might be willing to lose some money to achieve their goals of keeping the price down.

 Thanks for the tips.  I'm not sure I'll ever have the confidence to do anything but hold though I have thought about playing around with the B_itCH coins I converted to Bitcoin to see if I can't turn that free Bitcoin into more

This week's candle just closed, and it was green.  it closed at about $3664, and it was a nail-biter until the closing.

Anyhow, when a weekly candle closes so close to being either one direction or another, i don't know how much meaning we can attribute to that - except perhaps that we have largely been flat for the past week - however, it does not show a trend either up or down (on a weekly basis) - merely that there is some kind of consolidation going on that could cause a subsequent break out that goes in either direction.

Because of my tentative conclusion that we remain in a bull market (contrary to the multiple bear shills that are trying to transform us into a "bear market" based on a mere 2 (or arguably 3) week correction from a $4980 ATH that was about 67% higher than the previous ATH ($2980).... so yeah a bunch of fucking seemingly goofballs engaged in premature judgement regarding an evolving and still seemingly bullish situation - so therefore there remains a slight edge towards a bull break-out scenario.. rather than the wishful thinking bear scenario (that remains possible - even though slightly less probable, based on real context rather than fantasy).

[LewisPirenne]

ultimately there is always a need of masses of slaves, ideally voluntary slaves, blind to their chains.

No.
It is true that this used to be the case, but now we are right on the cusp of being able to automate most of the services the rich require.  This, of course, renders the mass of excess human population nothing more than a troublesome liability.
The trick going forward is figuring out how to not get culled.

As far as I can tell, the ruling elite isn't going to cull the no/low skill population that's going to be soon made redundant by robots and AI, at least not any time soon. 

That's why there is all sort of talks in academic and political circles for "Universal Basic Income" (UBI) or "QE for the people".  This will be an excellent chance to introduce FEDCoin or CADCoin too as it would be easy to distribute that UBI if every citizen has a public key account with your favorite central bank (CB). 

The idea is to keep the bread part of "bread and circus" going a little while longer, since there are TONS of pissed off people around the world.  Not just Arab Spring or Venezuela type, but common citizen in US, Germany, France, and lots of the First Worlders too.  People are discontent and restless and hence when gateway to escape the fiat world opened (like Bitcoin), people pile in.

[ragnar0k]

Hit the nail on the head. I haven't seen a raise in my 'job' in 9 years, not to mention they cut my hours just enough so that I could no longer get health insurance. Fortunately I have other income and in fact I'm on the verge of ditching that job forever in favor a crypto-based venture. But most people are years away from seeing or even understanding what is happening to them. They're still looking to politicians to fix things.

Americans, you should all come to Europe!
Here, set aside a few exceptions, you can enjoy an unemploymnet rate between 9% and 20%
Then your raise is no longer a problem, rather, how long you can keep your job and how long you will stay unemployed before the pension XD

This not to mention the beautiful taxes though, you will work from Jan to August just to pay taxes for the joy of living in EU

[pfrtlpfmpf]

Hit the nail on the head. I haven't seen a raise in my 'job' in 9 years, not to mention they cut my hours just enough so that I could no longer get health insurance. Fortunately I have other income and in fact I'm on the verge of ditching that job forever in favor a crypto-based venture. But most people are years away from seeing or even understanding what is happening to them. They're still looking to politicians to fix things.

Americans, you should all come to Europe!
Here, set aside a few exceptions, you can enjoy an unemploymnet rate between 9% and 20%
Then your raise is no longer a problem, rather, how long you can keep your job and how long you will stay unemployed before the pension XD

This not to mention the beautiful taxes though, you will work from Jan to August just to pay taxes for the joy of living in EU

Don´t forget the Immigrants, it´s a wonderfull life !

[spiderbrain]

I would still like to see a real test of the medium term log support line in this short term bear before I am happy to call it over.  The low spike on the 14th was ~$270 shy of a real test.  Of course, that line is rising all the time, I currently put it around $2870, crossing our current downtrend on or about Oct 11.

It's at an interesting point. I think we only have a couple more days to know where this wedge is going, but I'm guessing from the walls maybe up.


If down they we get to try and pull the backup parachute in early october and you get your second test, which by that point will conveniently look like a double bottom =)

[ragnar0k]

Hit the nail on the head. I haven't seen a raise in my 'job' in 9 years, not to mention they cut my hours just enough so that I could no longer get health insurance. Fortunately I have other income and in fact I'm on the verge of ditching that job forever in favor a crypto-based venture. But most people are years away from seeing or even understanding what is happening to them. They're still looking to politicians to fix things.

Americans, you should all come to Europe!
Here, set aside a few exceptions, you can enjoy an unemploymnet rate between 9% and 20%
Then your raise is no longer a problem, rather, how long you can keep your job and how long you will stay unemployed before the pension XD

This not to mention the beautiful taxes though, you will work from Jan to August just to pay taxes for the joy of living in EU

Don´t forget the Immigrants, it´s a wonderfull life !

They can help reducing wages of the poor people that, according to the government, are not reproducing fast enough.
So instead of giving them incentives to get a family, the EU can help us all bringing neverending streams of resources and help poor corporations in need of work (in countries with 20% unemployment)

[centralbanksequalsbombs]

Just have to say, I really enjoy seeing posts from JayJuanGee and also Torque - thank you both for continuing to post. Now, with that out of the way:

(snip)

Thanks for recognizing the posts of torque and me... You know a decent proportion of our posts battle each other... hahahahaha..   

If I wanted a one-sided slant of the world, I can just turn on the TV or look at Apple News or Google News.

(snip)

Don't get me wrong, bitcoin is likely to play a large part in the evolution of these various systems in the direction that you suggest - but surely it is going to take a lot of time and perhaps a few battles that include lots of blood, tears and sweat... and surely no clear and/or direct path from point A to point B.

Yah just pointing out the immense inflationary pressures still existing that will propel Bitcoin higher until  Bitcoin gets mainstream to incorporate such things.

[centralbanksequalsbombs]

Just have to say, I really enjoy seeing posts from JayJuanGee and also Torque - thank you both for continuing to post. Now, with that out of the way:
....

Bitcoin, systemically, is free from these burdens.[/size]

This is what happens when corruption goes awkward and it doesn 't matter what ideology, has nothing to do with it... . So just wait and see for the first of the "Other" systems country 's going all the way... .
http://www.zerohedge.com/news/2017-09-24/insiders-view-bitcoinization-venezuela

I would add that citizens of all countries tend to be completely, 100% reactive to what is happening to them, as opposed to being proactive. They wait until things get really bad before outright defying their government and looking for other options. That is why right now Bitcoin is suddenly being seen as a more serious option to their native fiat in places like Venezuela, Greece, Italy, and Spain. In other countries, it's still being regarded as a strange novelty.

(snip)

I for one see where the puck is heading, which is why I chose to get involved with Bitcoin four years ago to protect my wealth, instead of waiting until it gets really bad in my country. Which could still be a decade or two away.

Such a delightful future for all of us?

[jojo69]

wha wha  WHOA!

jeebus guys, I step away for band practice and BOOM!

[Torque]

Shorts getting rekt?

[pfrtlpfmpf]

Shorts getting rekt?

 i still don´t know, what "rekt" means, call me slow !

[bones261]

Shorts getting rekt?

 i still don´t know, what "rekt" means, call me slow !

rekt=wrecked.

[Bitcoinaire]

Shorts getting rekt?

Lets hope this is just the beginning.

[pfrtlpfmpf]

Shorts getting rekt?

 i still don´t know, what "rekt" means, call me slow !

rekt=wrecked.

Thank you, but: da muss man erstmal drauf kommen  

[Icygreen]

What kind of purchase would it take to drive up the market $150 in such a short go.
Now that China is on the sidelines, would price manipulation become easier?   Or maybe China just found a backdoor.... Nah, I think its  market makers at their finest.

[SERVERIA]

A nice small pump after a weekend dump

[BlindMayorBitcorn]

Yup, they all be shuffled back into Bits. Whales doing whales stuff