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

[fabiorem]

Thinking the same about selling now and rebuy later. But everytime I tried that, it directly went up. 

Do you mind taking one for the team...?

[Dakustaking76]

We are going to $4k, but I'm already preparing myself psychologically for $2500.

Sad, because I remember the 1st of August and it was memorable when bitcoin was above $3000.

Nobody is going to buy right now, because it keeps dropping.

Maybe Ifinex is doing this, selling their btc in other exchanges and provoking a snowball effect. They need the dollars to prove the tether is backed by them.

So 2.3 billion worth of bitcoins are being dumped.

I was thinking on selling to buy back lower, but who knows, it can stop right now and come back up.

Do any of you have numbers of how many btc were dumped since this bear run started?

Thinking the same about selling now and rebuy later. But everytime I tried that, it directly went up. 

Do it, please...

Haha i had that experience alot i lost a alot, Thats Why keeeeep holding braaaaa

[Totscha]

Did we hit the bottom yet

Yes, it was $7700 about an hour ago and you will never get a better deal ever again.

Trust me, I'm a random guy from the internet

[luckygenough56]

1/3 of ATH is usually a good tom

yet deep inside i want to see 5600 retest

[somac.]

Did we hit the bottom yet

Yes, it was $7700 about an hour ago and you will never get a better deal ever again.

Trust me, I'm a random guy from the internet

Trusting random guys on the internet has done me wonders so far

[TERA2]

Bitcoin is unique in that most of the traders are tied into being in one of two positions - either btc or usd. There arent a bunch of other stocks and asset classes for them to trade. They're not leaving the market. They're staying on the bitcoin exchanges with an eagle eye on the chart and soon as there is a hint of a reversal they have to all pile back in at once because if theyre on the wrong side of the market then theyre losing and wasting their time on high risk exchanges.

[SecondLeoTheSecond]

Did we hit the bottom yet

Yes, it was $7700 about an hour ago and you will never get a better deal ever again.

Trust me, I'm a random guy from the internet

You got me sir. Gonna buy them all now.
On a more serious note, the current bounce doesn't convince me yet.
Thats not really a v-shape we're seeing, though the increased volume seems interesting. When we go up another 500 with an addition of 3 billion in volume (on coinmarketcap) I might consider this the bottom for the mid-term.

[Enjel]

This is 100% manipulation. There is no way that this bounce is non-coordinated with massive amount of capital.

They engineer the price dip, and then test people's resolve by dropping the price, and suddenly, when the price is really low, they buy all in at once, causing a massive bounce.

I can't imagine a bunch of people doing this of their own accord all at once.

Those cascading sells you were seeing?  Those were a lot of leveraged shorts - borrowed coins.  Those borrowed coins need to be returned, meaning there will be buying to equal the selling.  They can be caught and forced to buy just as the leveraged longs can be caught and forced to sell, leading to these crazy swings and bounces.  Of course it is played to the max by anyone with the balls and bank.

As someone in enough debt, I actually am ignorant to margin trading with coins. However, it does make sense.

[Cassius]

Did we hit the bottom yet

Yes, it was $7700 about an hour ago and you will never get a better deal ever again.

Trust me, I'm a random guy from the internet

You got me sir. Gonna buy them all now.
On a more serious note, the current bounce doesn't convince me yet.
Thats not really a v-shape we're seeing, though the increased volume seems interesting. When we go up another 500 with an addition of 3 billion in volume (on coinmarketcap) I might consider this the bottom for the mid-term.

Right. I want to end today on a green that rivals 15 September for volume.

[somac.]

Did we hit the bottom yet

Yes, it was $7700 about an hour ago and you will never get a better deal ever again.

Trust me, I'm a random guy from the internet

You got me sir. Gonna buy them all now.
On a more serious note, the current bounce doesn't convince me yet.
Thats not really a v-shape we're seeing, though the increased volume seems interesting. When we go up another 500 with an addition of 3 billion in volume (on coinmarketcap) I might consider this the bottom for the mid-term.

Right. I want to end today on a green that rivals 15 September for volume.

Honestly, I think that's exactly what we need to end this.

[Elwar]

[Cassius]

Did we hit the bottom yet

Yes, it was $7700 about an hour ago and you will never get a better deal ever again.

Trust me, I'm a random guy from the internet

You got me sir. Gonna buy them all now.
On a more serious note, the current bounce doesn't convince me yet.
Thats not really a v-shape we're seeing, though the increased volume seems interesting. When we go up another 500 with an addition of 3 billion in volume (on coinmarketcap) I might consider this the bottom for the mid-term.

Right. I want to end today on a green that rivals 15 September for volume.

Honestly, I think that's exactly what we need to end this.

Yes, I wasn't joking
I'm not sure if we'll flip green by the end of the day, that would require ~$9100. But at this rate, volume will be close. 30k on Stamp in 14 hours, vs 60k daily vol on 15/9, which I think was highest ever for Stamp. That day put the bottom in pretty convincingly for me at $3k. I think that effectively paved the way for the run-up to ~$19k.
Further down, of course, would be Not Good™.

[luckygenough56]

those 2 major drops since ATH are textbook 2013

after that, it slowly rose back up to something like 70% of ATH value

[SecondLeoTheSecond]

Bitcoin is unique in that most of the traders are tied into being in one of two positions - either btc or usd. There arent a bunch of other stocks and asset classes for them to trade. They're not leaving the market. They're staying on the bitcoin exchanges with an eagle eye on the chart and soon as there is a hint of a reversal they have to all pile back in at once because if theyre on the wrong side of the market then theyre losing and wasting their time on high risk exchanges.

Something which, with some goodwill, could be interpreted as bullish from Tera?
REVERSAL CONFIRMED!

[somac.]

Add this to your analysis

https://ru.tradingview.com/chart/BTCUSD/hg0S8xjw-historical-3-looks-to-be-completed/

[d_eddie]

Bitcoin is unique in that most of the traders are tied into being in one of two positions - either btc or usd. There arent a bunch of other stocks and asset classes for them to trade. They're not leaving the market. They're staying on the bitcoin exchanges with an eagle eye on the chart and soon as there is a hint of a reversal they have to all pile back in at once because if theyre on the wrong side of the market then theyre losing and wasting their time on high risk exchanges.

Something which, with some goodwill, could be interpreted as bullish from Tera?
REVERSAL CONFIRMED!

Tera isn't actually a one-way permabear IMHO. More like a cynical contrarian skeptic.

[wayna]

So everybody knew a bit about BTC and cryptos.

They put some money into the market in a skyrocketing period of gains, then a steady and eventually a huge dump.

They shook their hands and now someone believes it's not worth it, it's about a scam and so on (in the meantime FUD and regulations applied).

If you look at charts the price is still higher than August. Investments are increasing in this market.

Again, I see a strategy both to put away weak people from the market and reset it in order to follow the next pump.

The real issue:
is BTC still the king?

Any crypto is traded with BTC, so BTC is a critical leverage to exchange whatever crypto you want, however in the real market we should also look how ETH is performing, the latter seems particularly in shape even in this massive dump!

ETH is also weak as a protocol.  Solidity is built on sand.  Programming secure smart contracts is a nightmare - just ask Parity. ETH has a great idea but shitty implementation.  It doesn’t deserve its market cap at this time.

Thank you for replying.

Yes, I actually know both BTC and ETH are relatively weak in their implementation, but still influencing the market.

Anyway, too many people here crying for the end of the game.

Seriously guys, I don't think big investors and all the infrastructure built around BTC and cryptos are crashing in about 1 year of pump.

It's barely comparable with the massive USA financial pump which is lasting since 2007.

I'm not saying we have bought some shitty coins when they were at a higher price (we did), but thinking that it's over is just ridiculous considering how the blockchain will disrupt the economy.

It's seems patience is the king in this game.

[somac.]

those 2 major drops since ATH are textbook 2013

after that, it slowly rose back up to something like 70% of ATH value

the 2013 crash you need to be looking at here is the one in the middle of the year. Not the one at the end.

[SecondLeoTheSecond]

Bitcoin is unique in that most of the traders are tied into being in one of two positions - either btc or usd. There arent a bunch of other stocks and asset classes for them to trade. They're not leaving the market. They're staying on the bitcoin exchanges with an eagle eye on the chart and soon as there is a hint of a reversal they have to all pile back in at once because if theyre on the wrong side of the market then theyre losing and wasting their time on high risk exchanges.

Something which, with some goodwill, could be interpreted as bullish from Tera?
REVERSAL CONFIRMED!

Tera isn't actually a one-way permabear IMHO. More like a cynical contrarian skeptic.

I heard her warning on the way up. Felt like getting more severe the higher we got.
Now I sniff the wiff a reversal in her opinion while I see more doom around.

I guess the cynical contrarian stance makes her a better trader than most around here.

[luckygenough56]

problem with all those analysis is they all assume we're still in a bull trend, very risky thinking. Those child paintings are right until the trend changes...

it'll probably bounce up tho