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

[bones261]

Vowing to myself not look at my phone at 3:00 am tonight, like I did last night. Setting up a few bids in case it goes lower while I sleep. Although it would be nice to get back some of my BTC that I let go, earlier; it will be nicer to see a monumental rebound. Maybe a deep dip followed by the mother of all rebounds would be ideal.   That's probably hoping for too much though.

[HI-TEC99]

Vowing to myself not look at my phone at 3:00 am tonight, like I did last night. Setting up a few bids in case it goes lower while I sleep. Although it would be nice to get back some of my BTC that I let go, earlier; it will be nicer to see a monumental rebound. Maybe a deep dip followed by the mother of all rebounds would be ideal.   That's probably hoping for too much though.

Don't let Bitcoin force you into checking it all the time. You will get no sleep or work done.

[JayJuanGee]

Im out.
5550

Example of "weak hand"?

Yeah kind of..
Have a very small stash.

Sold the trading stash. Don't have the balls i guess.
Im expecting a bounce at the current level.Just gave up on it.A small rally once the selling pressure subsides.
Opted to put in buys the way down. Hoping atleast the 7500 fills.
Bounce @8900
Bounce @7500
Bounce @5500

I don't mean to be calling you names, but it just does not seem to be a good strategy to play like that - which I mean is selling at about 55% retracement.. and the practice should not be different whether you are holding a lot or holding a little, and probably the most convincing mistake is that either you had not sold enough earlier or you had invested too much (even if it is a small amount)... but yeah, it is understandable that each of us have to do what ends up being comfortable for us... and hopefully learn how to improve our methods so we don't do the opposite of what would be a better practice (buying on the way down - or worse case scenario, just HODLing)

[JayJuanGee]

Wealth transferred, mission accomplished. Absolute savagery. Why I ever thought this would end in anything other than tears I'll never know.

Step away from the ledge, RF.... Don't do it!!!!!!   Don't do it!!!!

[User705]

Wealth transferred, mission accomplished. Absolute savagery. Why I ever thought this would end in anything other than tears I'll never know.

What “this” are you referring to and what “end” are you talking about?  It’s like gibberish.

[Apekool]

Wealth transferred, mission accomplished. Absolute savagery. Why I ever thought this would end in anything other than tears I'll never know.

What “this” are you referring to and what “end” are you talking about?  It’s like gibberish.

People going crazy because the line of a chart shows an unexpected alteration. Better to stay in bed for them if this worries.

I'm also not sure how people think they can predict the bitcoin future price, there's too much rubble at the moment to see clearly. It's like black friday all day for over two months, and some people bought too much stuff and are now selling that same stuff below price because they need food instead. That impulsive period of buying isn't where you should focus all your analysis if trying to make an estimate

[d_eddie]

Last from ML (Google translate)

1. Volumes fall, the subwave overlaps
2. A counter-trend continuation pattern is formed (flag)
3. Flashcross 50% for a month there are only bear traps. The present bloating is slow and painful
4. Weekly ma20 is not broken (by closing) for the time being
5. Did not climb into the zone of the previous wave ~ 7700

The situation and the truth is strange, but I'm still convinced that this is not a long blowoff.

[Apekool]

For that same reason websites like WalletInvestor are extremely dangerous to believe in. If a future prediction is based on a very short period of extremity, then of course the prediction will follow that line of thought. It leaves however out of account the wider context, for example that this period is also the period where many new investors came and just invested in anything they could get their hands on. If one takes into account only the things that fit a certain point of view, then it's pretty useless to listen to, because that point of view itself is predictable. Great thinking.

[TERA2]

That flat line at 8750 looks like something out of mtgox

[Paashaas]

This is a good entry point to scoop up extra cheap coins.

We'll never see this low again

[PoolMinor]

This is a good entry point to scoop up extra cheap coins.

We'll never see this low again

quoted for posterity

[Biro Bob]

...

Excellent, logical and positive post! Would have +1’d but I ran out of spendable merit!

** If you need 2 merits to get one sMerit, will everyone eventually run out of sMerit?

[Apekool]

This is a good entry point to scoop up extra cheap coins.

We'll never see this low again

To be honest I think that bitcoin will eventually become the coin where people talk about like "haha oh I still have that", while checking their offline wallet after some time. It already passed it's practical use when the transaction fees became absurd (fill in your own number), because as soon as a transaction rate exceeds that of a regular bank, why using bitcoin? People are holding bitcoin for the price fluctuation and for the forks, and currently it's the point of entry into the market for everyone. However as soon as there is a digital currency that is adopted by both government and community, I believe there will be a major capital shift towards that. It however doesn't looks like that is going to happen soon, except for maybe in China with NEO/GAS, assuming the rumors are true.

[gembitz]

This is a good entry point to scoop up extra cheap coins.

We'll never see this low again

flash crash now or later? :-D $1337 weee

[HairyMaclairy]

Don’t know if any of you used to play Everquest and remember Temple of Veeshan.  If so, this seems appropriate today.

https://youtu.be/9AcAxGE-8ag

PS anyone believing in a China coin is getting scammed by the Chinese govt.  Large portions of the Chinese govt are run for profit - and that’s not your profit.  Chinese govt officials quite happy to play along with scams. 

[Enjel]

That flat line at 8750 looks like something out of mtgox

Just curious - what is your prediction? I remembered you were very bearish a few weeks ago, but now you're not calling "big crash" like some are.

[d_eddie]

as soon as a transaction rate exceeds that of a regular bank, why using bitcoin?

Because you can send them to any address you like. Try doing that with banks, Visa etc.

[Apekool]

That flat line at 8750 looks like something out of mtgox

If so it seems to provide the desired effect, people are stacking on that wall and it is steadily growing (also outward/forward). I'm only checking Binance btw.

[bones261]

Excellent, logical and positive post! Would have +1’d but I ran out of spendable merit!

** If you need 2 merits to get one sMerit, will everyone eventually run out of sMerit?

There are some users who are designated as sources. So they keep getting sMerit to hand out. I guess you just need to figure out who those people are and get on their good side.

[True Myth]

People, things are not complicated, this is not some kind of natural disaster, what is happening is that scammers at Scamfinex have to produce 1 US$ for every 1 USDT they produced out of the thin air, or they will go to jail. No matter how low the price is, they have no choice but to sell BTC, there's no other way they can produce US$. Point is they can not sell your coins, they can only sell theirs. It's that simple, why would anyone care if they loose the whole sum they've acquired through scam? They can either sell enough to cover the scam, or fail and go to jail. Sooner or later they will run out of BTC and the line will be drown under, their BTC will be in someone else hands, but your BTC will remain in yours. It's that simple, as someone said 1 BTC will always be 1 BTC, there's no reason to fear of their failure. Only way you can fail is to sell your coins, otherwise you can not lose because this is not your game that is happening right now.

If any of this conjecture were true, Bitfinex would be trailing in price not leading.

*puts on tinfoil hat* Whose to say they aren't selling on another exchange? Selling on thier own could raise flags.

*edit* someone beat me to it.

Why do you presume they are selling on their own exchange? They are in position to move fiat between the exchanges, which their customers can not do as easily as them. If you were in their place, wouldn't you do exactly what they are doing to cover the obvious?

Sorry guys... catching up on this board during a dip is like coming back to work after a 3 week vacation.