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

[explorer]

And below 11K again,150 BTC wall inserted at 11K @ GDAX

Seems impossible to break

My prediction is we go sideways until the g20 summit and hopefully get good news from that

wat?

[Ibian]

I'm still looking at 12 and 13K as the resistance to break before saying goodbye to the 10's.  I think we are/have seen the psychological resistance that was expected in December before the gamed pump.  At least it feels a bit more organically rooted for now.

A question running through my mind for the last few months:
For a society so used to a somewhat stable money value, what will be the effects of volatility in the masses?  What I mean is: Having something I believe is sovereign money, although volatile, continues to change my relationship to traditional paper money and bank digits (taking a back seat). When the masses come to accept this, I expect some drastic reality shift I can't quite imagine today.  Maybe it's not yet a question that can really be answered today. Maybe better,  How has your relationship to money changed since bitcoin?  Too serious?
  

Just imagine how they will feel during a hyperinflation. Everything they believed is a lie!

Educate those who will listen, and let the god of poverty sort the rest out. (is there a god of poverty? who is it?)

[Rosewater Foundation]

I'm still looking at 12 and 13K as the resistance to break before saying goodbye to the 10's.  I think we are/have seen the psychological resistance that was expected in December before the gamed pump.  At least it feels a bit more organically rooted for now.

A question running through my mind for the last few months:
For a society so used to a somewhat stable money value, what will be the effects of volatility in the masses?  What I mean is: Having something I believe is sovereign money, although volatile, continues to change my relationship to traditional paper money and bank digits (taking a back seat). When the masses come to accept this, I expect some drastic reality shift I can't quite imagine today.  Maybe it's not yet a question that can really be answered today. Maybe better,  How has your relationship to money changed since bitcoin?  Too serious?
  

Just imagine how they will feel during a hyperinflation. Everything they believed is a lie!

Educate those who will listen, and let the god of poverty sort the rest out. (is there a god of poverty? who is it?)

This is an excellent question. Speaking personally, I probably don't need to tell y'all how close I was to dumping in total despair. Right at the bottom. I don't know how normies would cope psychologically.

Relevant https://www.weforum.org/agenda/2017/11/technology-has-unveiled-a-troubling-economic-truth?utm_content=bufferf58de&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

Reducing economic inequality will require reforms of education and taxation, with the tax burden shifting decisively from labor to capital. Western countries will also need to create new redistributive mechanisms to supplement the declining role of wages in their economies.

[bitcoinPsycho]

[Rosewater Foundation]

Also relevant https://www.technologyreview.com/s/610392/ethereums-smart-contracts-are-full-of-holes/

Sergey and colleagues used a novel tool to analyze a sample of nearly one million Ethereum smart contracts, flagging around 34,000 as vulnerable—including the one that led to the Parity mishap. Sergey compares the team’s work to interacting with a vending machine, as though the researchers randomly pushed buttons and recorded the conditions that made the machine act in unintended ways. “I believe that a large number of vulnerabilities are still to be discovered and formally specified,” Sergey says.

[d_eddie]

A question running through my mind for the last few months:
For a society so used to a somewhat stable money value, what will be the effects of volatility in the masses?  What I mean is: Having something I believe is sovereign money, although volatile, continues to change my relationship to traditional paper money and bank digits (taking a back seat). When the masses come to accept this, I expect some drastic reality shift I can't quite imagine today.  Maybe it's not yet a question that can really be answered today. Maybe better,  How has your relationship to money changed since bitcoin?  Too serious?
  

My relationship with money has changed a lot. Almost every day, it occurs to me that so many worries and tears and toils are about - what - a btc cent? Ah, no, that's 1.5 cents. It doesn't change anything - all is relative, but in these occasions I feel like I'm living on another planet.

Perhaps more interestingly, now I see fiat money as funny color printed slips of paper that people give value to even if in some sense it isn't "real". It has no objectivity, for lack of a better word.

Or... no, wait a minute. We don't even get to see those slips of paper much anymore now, do we? More often that not, fiat money is a bunch of numbers in a giant database, much like bitcoin. Except, there are guys that have the master keys for some parts of this huge database, so they can edit, hack and play within a loose set of rules. No, I've got no such key unfortunately.

Also, bitcoin has taught me that my most precious resource is time. No matter how rich or lucky I am, my lifetime is capped. No soft or hard fork can inflate my healthy living years to 1000. It's important to make each minute count.

[bitcoinminer42]

I’m not a believer until $11,200

You gotta think BIGGER than that.  $11,200 is cake... or easie peasie.

Let me see breaking above $12k before I begin to believe - It may take a day or two to get to $12k-ish, if we are going there, and then breaking above would be a decent sign of UP.

C'mon guys... do u rally believe the bear market is over? Just because we're on the edge of our channel?

Dreamers  (or even believers)

[HairyMaclairy]

A question running through my mind for the last few months:
For a society so used to a somewhat stable money value, what will be the effects of volatility in the masses?  What I mean is: Having something I believe is sovereign money, although volatile, continues to change my relationship to traditional paper money and bank digits (taking a back seat). When the masses come to accept this, I expect some drastic reality shift I can't quite imagine today.  Maybe it's not yet a question that can really be answered today. Maybe better,  How has your relationship to money changed since bitcoin?  Too serious?
  

My relationship with money has changed a lot. Almost every day, it occurs to me that so many worries and tears and toils are about - what - a btc cent? Ah, no, that's 1.5 cents. It doesn't change anything - all is relative, but in these occasions I feel like I'm living on another planet.

Perhaps more interestingly, now I see fiat money as funny color printed slips of paper that people give value to even if in some sense it isn't "real". It has no objectivity, for lack of a better word.

Or... no, wait a minute. We don't even get to see those slips of paper much anymore now, do we? More often that not, fiat money is a bunch of numbers in a giant database, much like bitcoin. Except, there are guys that have the master keys for some parts of this huge database, so they can edit, hack and play within a loose set of rules. No, I've got no such key unfortunately.

Also, bitcoin has taught me that my most precious resource is time. No matter how rich or lucky I am, my lifetime is capped. No soft or hard fork can inflate my healthy living years to 1000. It's important to make each minute count.

You need to find a good woman and fork her.

[HairyMaclairy]

I’m not a believer until $11,200

You gotta think BIGGER than that.  $11,200 is cake... or easie peasie.

Let me see breaking above $12k before I begin to believe - It may take a day or two to get to $12k-ish, if we are going there, and then breaking above would be a decent sign of UP.

C'mon guys... do u rally believe the bear market is over? Just because we're on the edge of our channel?

Dreamers  (or even believers)

So tell us darling - how do we know the bear market is over?

[pacman7331]

50ma and down trend break both intersect at 10200. Support at 10700, 10800.

[PoolMinor]

I’m not a believer until $11,200

You gotta think BIGGER than that.  $11,200 is cake... or easie peasie.

Let me see breaking above $12k before I begin to believe - It may take a day or two to get to $12k-ish, if we are going there, and then breaking above would be a decent sign of UP.

C'mon guys... do u rally believe the bear market is over? Just because we're on the edge of our channel?

Dreamers  (or even believers)

Remember!

Charts can only tell you the past. You may use indicators and trendlines to gain knowledge that provides a more educated guess, but it still remains a guess.

[bitcoinminer42]

I’m not a believer until $11,200

You gotta think BIGGER than that.  $11,200 is cake... or easie peasie.

Let me see breaking above $12k before I begin to believe - It may take a day or two to get to $12k-ish, if we are going there, and then breaking above would be a decent sign of UP.

C'mon guys... do u rally believe the bear market is over? Just because we're on the edge of our channel?

Dreamers  (or even believers)

So tell us darling - how do we know the bear market is over?

If we hit 20k it definitely is  

[HairyMaclairy]

I’m not a believer until $11,200

You gotta think BIGGER than that.  $11,200 is cake... or easie peasie.

Let me see breaking above $12k before I begin to believe - It may take a day or two to get to $12k-ish, if we are going there, and then breaking above would be a decent sign of UP.

C'mon guys... do u rally believe the bear market is over? Just because we're on the edge of our channel?

Dreamers  (or even believers)

So tell us darling - how do we know the bear market is over?

If we hit 20k it definitely is  

Yeah that’s not particularly helpful for those who want to enter before then...

[bitcoinminer42]

Wrong time to just enter... maybe we'll get some signals next week(end)...

Why those guys not entered at 6k? Or 2015? 

[Biodom]

No matter how rich or lucky I am, my lifetime is capped. No soft or hard fork can inflate my healthy living years to 1000.

It's important to make each minute count.

I agree with the second part, not necessarily with the first.

there was no crypto before Satoshi
there was no www before early nineties
there were no PCs just 43 years ago

Check out Altered Carbon (read the book before watching the show) or even more original Schild's Ladder (both published in 2002). Would you be able in, say, 40-50 years, transfer your mental state to a different substrate? A fascinating topic.

[d_eddie]

(snip)

So tell us darling - how do we know the bear market is over?

If we hit 20k it definitely is  

Yeah that’s not particularly helpful for those who want to enter before then...

Can a series of movements be taken as a more reliable sign? As in "down to 9.8k-9.9k, up again to 12.2k and slowly climbing 100$ a day for a week"? Or some hydraulic quantitative measure (using Toxic's suggestive idea of pools that fill up)?

Maybe it's too simplistic to try and define a complex situation by a simple level to be reached, if the path is not also taken into account.

[JayJuanGee]

I’m not a believer until $11,200

You gotta think BIGGER than that.  $11,200 is cake... or easie peasie.

Let me see breaking above $12k before I begin to believe - It may take a day or two to get to $12k-ish, if we are going there, and then breaking above would be a decent sign of UP.

C'mon guys... do u rally believe the bear market is over? Just because we're on the edge of our channel?

Dreamers  (or even believers)

I don't think that we are saying anything beyond  BTC prices moving beyond short term resistance points, and usually when we get breaks past resistance points, then we get additional UP from there without as much resistance, but I think that a lot of folks (at least the more bullish posters) in this thread have been inclined to believe that we are more likely in an early 2013 scenario rather than an early 2014 situation.  So what are you proposing or predicting, besides trying to make it appear that we are saying more than we are and twisting around the concept of dream/believe?

[bitcoinminer42]

(snip)

So tell us darling - how do we know the bear market is over?

If we hit 20k it definitely is  

Yeah that’s not particularly helpful for those who want to enter before then...

Can a series of movements be taken as a more reliable sign? As in "down to 9.8k-9.9k, up again to 12.2k and slowly climbing 100$ a day for a week"? Or some hydraulic quantitative measure (using Toxic's suggestive idea of pools that fill up)?

Maybe it's too simplistic to try and define a complex situation by a simple level to be reached, if the path is not also taken into account.

If we close above 12.2k on a daily base... thats your sign...

If...

[RoomBot]

HA, HA, get on the train, Bears!

[marcus_of_augustus]