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

[JayJuanGee]

Here we go again next stop 9k

Like I said, I'm buying drinks for the thread if we see it touch the $8k's again this year.

Too much resistance support down to $9k.

I don't see it happening.

Beer-filled gut-bacteria tells me things will even out around $9.5k before resuming upward momentum.

FTFY:   Just for definitional sakes (and clarity)... going down there is support and going up there is resistance.

[1714289190]

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[User705]

with every fork on bitcoin the inflation rate is doubled, if they can lockstep the alt-fork coin prices to bitcoins they have pulled off a very effective dilution strategy to thwart bitcoins powerful deflationary attraction forces ... until bitcoin price dumps hard to purge the parasite bastards

With every fork, forks become increasingly meaningless...

Not quite.  While the whole “they” thing is spurious the fork problem is one of the few potential bitcoin issues.  With every fork a dichotomy arises.  Yes you can ignore them but that means value can be created from nothing.  That doesn’t quite make sense but in order to drop the price someone has to sell and someone has to buy and the moment that happens technically the value of the fork is a direct deduction on the value of bitcoin. That’s not to mention the issues of limited space on the original chain but unlimited space on the others.

[conspirosphere.tk]

with every fork on bitcoin the inflation rate is doubled, if they can lockstep the alt-fork coin prices to bitcoins they have pulled off a very effective dilution strategy to thwart bitcoins powerful deflationary attraction forces ... until bitcoin price dumps hard to purge the parasite bastards

With every fork, forks become increasingly meaningless...

Not quite.  While the whole “they” thing is spurious the fork problem is one of the few potential bitcoin issues.  With every fork a dichotomy arises.  Yes you can ignore them but that means value can be created from nothing.  That doesn’t quite make sense but in order to drop the price someone has to sell and someone has to buy and the moment that happens technically the value of the fork is a direct deduction on the value of bitcoin. That’s not to mention the issues of limited space on the original chain but unlimited space on the others.

After bitgold the subsequent forks have practically no value and are not traded on any decent exchange. They can't even be deposited on the few dubious exchanges where they are listed so they are not even worth of being splitted and practically do not exist, just 2-bit shitcoins.
https://btcdiv.com

I may be more impressed by some new alt with new bells and whistles.
And the limited space is a market too. Nothing is free.

[BlindMayorBitcorn]

Ok question for the snowbirds. I know you're here. Is Quadrigacx above board? I have no reason to doubt they are, but I've never trusted them before with large amounts.

[Neo_Coin]

[bones261]

I'm not sure if I should pull some of my top bids and hope for lower.   I want to get a good price, but I don't want to try catching falling knives either. Perhaps I should just pull all my bids. There is a superstition that one should never gamble on their birthday. Although, it is not quite my birthday in my part of the world, yet. However, it is Friday for most of the world now.

[jojo69]

something something pennies steamrollers

[moneyForjam]

I'm not sure if I should pull some of my top bids and hope for lower.   I want to get a good price, but I don't want to try catching falling knives either. Perhaps I should just pull all my bids. There is a superstition that one should never gamble on their birthday. Although, it is not quite my birthday in my part of the world, yet. However, it is Friday for most of the world now.

I just brought 9655

[JayJuanGee]

Here we go again next stop 9k

Like I said, I'm buying drinks for the thread if we see it touch the $8k's again this year.

Too much resistance down to $9k.

I don't see it happening.

Beer-filled gut-bacteria tells me things will even out around $9.5k before resuming upward momentum.

Below 9,000$ is still possible, there are 2 scenarios I see on Bitcoin going down. The first scenario is Bitcoin will for a right shoulder with its lowest price at 9,200$, the 2nd scenario is 9,200$ is broken and it will continue to what people are calling the real 5th wave which is around the 4,500$ level. Right now I am just observing the prices as my money is still in Fiat so I am comfortable to what is happening to Bitcoin. Hopefully this will be the last dip of the year as I know a lot of people have stacked up their position by now.

I understand that if the price breaks below $9,200, then you are going to wait to buy in the $4,500 price arena, maybe you would buy above $5k, just to be safe, right?

On the other hand, if the price does not break below $9,200, then at what point would you get back in, if at all?


By the way, you may have already seen my posts on this topic, and personally I doubt that breaking below $9k is going to give you clear sailing down to $4,500 or points just above that because there seem to be pretty decent odds that there is going to be decent support at $8k and $7k... so you gotta get past that support first, in my humble bumble opinion.

[BTCMILLIONAIRE]

I'm not sure if I should pull some of my top bids and hope for lower.   I want to get a good price, but I don't want to try catching falling knives either. Perhaps I should just pull all my bids. There is a superstition that one should never gamble on their birthday. Although, it is not quite my birthday in my part of the world, yet. However, it is Friday for most of the world now.

Never heard of that one. Happy birthday!

[BTCMILLIONAIRE]

Here we go again next stop 9k

Like I said, I'm buying drinks for the thread if we see it touch the $8k's again this year.

Too much resistance down to $9k.

I don't see it happening.

Beer-filled gut-bacteria tells me things will even out around $9.5k before resuming upward momentum.

Below 9,000$ is still possible, there are 2 scenarios I see on Bitcoin going down. The first scenario is Bitcoin will for a right shoulder with its lowest price at 9,200$, the 2nd scenario is 9,200$ is broken and it will continue to what people are calling the real 5th wave which is around the 4,500$ level. Right now I am just observing the prices as my money is still in Fiat so I am comfortable to what is happening to Bitcoin. Hopefully this will be the last dip of the year as I know a lot of people have stacked up their position by now.

I understand that if the price breaks below $9,200, then you are going to wait to buy in the $4,500 price arena, maybe you would buy above $5k, just to be safe, right?

On the other hand, if the price does not break below $9,200, then at what point would you get back in, if at all?


By the way, you may have already seen my posts on this topic, and personally I doubt that breaking below $9k is going to give you clear sailing down to $4,500 or points just above that because there seem to be pretty decent odds that there is going to be decent support at $8k and $7k... so you gotta get past that support first, in my humble bumble opinion.

We stopped in the $6,100 range the last time around too, so you're definitely right about the additional supports below $9,200.

[explorer]

Ok question for the snowbirds. I know you're here. Is Quadrigacx above board? I have no reason to doubt they are, but I've never trusted then before with large amounts.

I've used them for a few years with no major issues.  Banking is always a problem, but they keep managing to find new ways, so I expect that to continue. 

[BlindMayorBitcorn]

Ok question for the snowbirds. I know you're here. Is Quadrigacx above board? I have no reason to doubt they are, but I've never trusted then before with large amounts.

I've used them for a few years with no major issues.  Banking is always a problem, but they keep managing to find new ways, so I expect that to continue. 

Thanks. They had a real handy debit option at one time. I noticed that's gone now.

[pacman7331]

Strange I thought we already broke the downward trend a while ago. But now redrawing the lines more generously looks like there was never a breakout of the downward trend?
Anyone else not see this? However, I suppose if you are not at an ATH you are always able to draw a downward trend...

Honestly was shocked to see how fast we went from 9K to 11K. Too bad those buyers weren't hodlers. My vote for Feb 28th was 10-11k.

[BlindMayorBitcorn]

Strange I thought we already broke the downward trend a while ago. But now redrawing the lines more generously looks like there was never a breakout of the downward trend?
Anyone else not see this? However, I suppose if you are not at an ATH you are always able to draw a downward trend...

It was important to fleece daytime television first. Sheep trap.

[STT]

I'm not sure if I should pull some of my top bids and hope for lower.   I want to get a good price, but I don't want to try catching falling knives either. Perhaps I should just pull all my bids. There is a superstition that one should never gamble on their birthday. Although, it is not quite my birthday in my part of the world, yet. However, it is Friday for most of the world now.

I get a free gamble sent to me every birthday.   Its kinda bad timing maybe thats why they do it and they hedge every bet I take anyway no doubt.      With take a falling knife right now, the sensible plan is wait for it to land in the mud first     So confirmation of some kind above 10,000 or so is the higher probability bet then estimating below that line.   So yea a buy is possible but its not normally done below a ceiling I guess, that is worse odds or gamblers lucky hopes.

So 9308 is an area I watch for reaction, just a quick idea.   Last i heard was a pullback was on the cards so I guess that trader was right there, I was more bullish

[BlindMayorBitcorn]

Never thought I'd be able to knock the books down hundreds of dollars with my measly stash. Sure, they're Canadian dollars, but still. Shit is grim.

[s1]

Fed’s Dudley Warns on Dangerous ‘Speculative Mania’ Around Cryptocurrencies

https://www.wsj.com/articles/feds-dudley-says-puerto-rico-has-difficult-recovery-process-ahead-of-it-1519311605

[vanobe]

I suspect this dump is caused by Venezuelas president Maduro dumping his BTC for $$$

In case you did not know he is desperate for $$ since his state-owned oil company are now in default on about US$1.7 billion.
Todays 738 million pre-ico sale of his petro coin has given him enough money to begin the bail out that will prevent further economic collapse of his government.

Can you actually buy his petro tokens with bitcoins? I haven't found out how you can buy them yet. Where do you buy them from?

[jojo69]

well heyyyyyy

I'm back in the LTC business...so I got that going for me