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

[STT]

I'd expect a fakeout first, a last call for a sell, people give up.  Then you have the bottom and a rise, market usually tries to trick us many times

Silver bugs never respect the lesson the Hunt brothers learned the hard way. If you want to diversify your portfolio buy gold. Silver bullion is a poor store of value and will remain so while gold is not.

Gold is isolated from direct factors of economic growth but silver is an industrial metal so I agree they are not twins, its a weak relation

The Hunt Brothers had a giant counter to their plans, a strong and capable Federal reserve.   This is like the biggest most relevant point to knowing this history, compare Fed and Fiscal debt and perhaps trade balance to now.    In the 1980's the Fed raised rates to 15%

Thats a giant return for simply holding the debt of the country you live in and pay taxes to.   Its not a hard bet to just side with that, of course the FED got control.    Silver was not in use enough to be a challenger plus the Saudis do sell oil in dollars, thats a big backing plus everyone else.

So the situation now is the FED cannot ever raise rates this high.   The average term of debt owed over 20 trillion by government is just 4 years.   Raising rates this high would mean every cent spent in the white house budget would be interest payments.     Its an insolvent situation, same deal as you read with Greek or similar spikes.

What is going to happen this time is the debt is repaid with newly printed money.  The path of least resistance, I dont have to be anti government, anti anyone this is just the gravity of the situation, water rolls down hill and the economy is going to be shaped by the simple dynamic of too much debt and a weak Fed policy vs inflation.

Knowing history is great indicator to the future but various factors have developed further since then.    So far as I know people expect a strong Fed to control the situation just like previously but its impossible when there is a fiscal deficit and no possible surplus to repay debt.

[jojo69]

BTC related question:


I geus were on a correction? From €66xx back to €63xx

Damn when are we going to explode upwards

Long term rising support line at ~€6,000. Climbing at a little more than €200 per week.
Resistance around €6,800.
So probably 2-3 weeks, maximum, before something significant has to happen.

(I converted $ to € for you but not sure what 2-3 weeks is in European equivalent. Do you guys use metric or Unix time?)

No standard has been adopted.
USA 2-3 weeks =
UK 5-10 weeks
Spain 'Tomorrow'
Greece Never
Germany 2.5 weeks
Benelux Manchester United 2 Barcelona 3
Ireland Sure, soon now
Italy, Portugal, Poland After the holidays
etc

actually if I remember correctly in Germany it is 2.545678952 weeks +- 0.000000002

[Robin,Hood]

i find it hard to believe people that are otherwise reasonably intelligent can still believe that moon landings were faked.

mental block?  lack of knowledge the technical aspects? brain washing? wishful thinking? whatever it is.. well enjoy your beliefs.

Maybe there is a need for a thread on the topic?  

I know that there is a thread on the flat earth bullshit, but that concept of flat earth is totally luny (pun intended).  By the way, a faking of the moon landing is not even close to the same level of flat earth luny beliefs.

no need from my point of view, as one way or another BTC price is not affected.

there is plenty of evidence around if you look for it. believing it is up to the individual. depends on ones technical understanding of the tech and your belief in the sources.

I think that part of my point is that moon landing and other topics such as the official story behind the twin tower and DC attacks of 9/11/2001, who was behind the JFK assassination and other topics have decently credible evidence on both sides.. There is almost NO decently credible evidence that the earth is flat.

There is a strong correlation between conspiracy theorists and low cognitive capability.  Make of that what you will.  

Maybe such another thread would treat the concepts of conspiracy theories rather than any particular conspiracy theory?

Surely, the concept of conspiracy theories can be related to bitcoin and also to the kinds of skills that any of us needs to attempt to sort through how to invest our own thinking (and simultaneously, money, perhaps?).

In which basket will you throw the fact that the FBI claims Nicola Tesla was an alien.
Will you accept it as fact or call the fbi conspiracy theorist creators.
https://vault.fbi.gov/nikola-tesla/Nikola%20Tesla%20Part%2003%20of%2003/view

[jojo69]

totally digging this volatility, closing in on booking 0.1BTC from my ladders in the last 4 days

[Toxic2040]

Good morning all.
Keep pushing for $8k+   
#stronghands

1h


4h


D

[Anon136]

A new Bart has begun.

Do the Bartman ?      This cartoon 'kid' is like 30 years old by now

Seriously what does this formation relate to, the transition from west/europe over to Asia and back again ?   Reminds me of a phase change on a transformer or something.

A trader told me BCH is bullish medium term apparently, set to do well.  I thought that was mostly previous due to the fork and speculation on that, any reason for more demand on it recently?

It's just some big players moving funds around the globe for arbitrage. Think of it like the heart-beat of cross-border financial transactions bitcoin is performing. Buy 1m in HK, Sell in NY, Buy 2mm in Zurich, Sell in Singapore ... etc, etc. Bitcoin is working.

Hmm... If that was happening on the right scale I could definitely imagine it forming exactly that pattern. It makes sense. Do you have any evidence or arguments to support it?

[Karartma1]

@Anon136
That is to me an accurate chart on price manipulation which is definitely worth to be mentioned here on the WO. The Bart Simpson pattern became a thing and, trust me, I would love if it would cease.
So it goes now, there is not much to do but hey, after the third Bart pattern I started to take some profit and bought a bit more on the way down.
If they play, I will do that too.

To what do you attribute it? I mean more specifically than just "manipulation" generally.

Looking at that so-called "Bart Simpson" chart pattern, I don't really see the mystery. That is exactly what a trading market pattern would look like if you have:

a) major sideways wash trading
b) the float on exchanges being really thin
c) only one or a few whale market participants using large margin
d) volume being led by one or only a few exchanges

Which is the environment we are in right now. The whale is ready to rek anyone who takes up a sizable position in either direction. It could be the exchange owners themselves.

Agree!  Exchange owners are some of the largest and dirties whales around; they are more like Killer Whales acting solely on profit gouging!

Torque definitely put that better than me but at the end of the day I call it price manipulation. If words still mean something

[Hueristic]

In which basket will you throw the fact that the FBI claims Nicola Tesla was an alien.
Will you accept it as fact or call the fbi conspiracy theorist creators.
https://vault.fbi.gov/nikola-tesla/Nikola%20Tesla%20Part%2003%20of%2003/view

What ? OP is certainly a bundle of sticks...

* Reads the PDF *



To be fair, it does appear to be a newsletter from some fringe group that was added to the dossier.

LOL, thx, I'm ascared of pdf's from anywhere.

[Last of the V8s]

This is not going down to 5K, is it, bears.
Buy now or cry later

[LFC_Bitcoin]

This is not going down to 5K, is it, bears.
Buy now or cry later

[shahzadafzal]

This is not going down to 5K, is it, bears.
Buy now or cry later

Soon BTC gonna get tired of this game... and will moon soon...!!!


https://i.imgur.com/58YNcKa.jpg

[Rsiyz]

https://www.reddit.com/r/linux/comments/8oqb2u/linux_417_supporting_speck_a_controversial_crypto/

[mindrust]

Gold is isolated from direct factors of economic growth but silver is an industrial metal

Gold is an industrial metal too. It is inside of almost every electronic device there is.

[European Central Bank]

bitcoin just had a 14.7% difficulty change upwards. that's the biggest since january. there sure is a lot of firepower out there somewhere.

[Raja_MBZ]

Gold is isolated from direct factors of economic growth but silver is an industrial metal

Gold is an industrial metal too. It is inside of almost every electronic device there is.

Correct. I bought a little bit of it a few months back to have more bitcoin.

...and it worked out!

[starmman]

bitcoin just had a 14.7% difficulty change upwards. that's the biggest since january. there sure is a lot of firepower out there somewhere.

Interesting that somebody is ramping up the operation - hopefully that will transpire to something more bullish again in the near future

[jojo69]

that is a lot of motherfucking hash

[BitcoinNewsMagazine]

Guys, let's get the topic back on track. All scam accusations should be in the scam accusation child forum. 

All we had to do is to click the report button, and get a moderator notified. No need to keep on ranting and derailing this thread which ultimately leads to a bottomless end.

Agreed. I do have a problem when the moderators tolerate folks like @realr0ach insulting Legendary members.

I warned bitcoin was in a serious bubble last December and I sincerely hope many of you got out over $18,000. We already had the dead cat bounce (great short entry at $15,000) and we are now under a daily Death Cross which is the final confirmation of a bear market:



Any bounce up this month is a bull trap IMO and should be used to raise cash or short. I don't believe we will see the final capitulation until end of this year. Point of maximum pain has not been reached yet and best time to buy is when "there is blood in the streets". I do believe that long term bitcoin will do just fine but expecting a new ATH before the middle to end of 2019 is very low probability. Like unicorn sighting low probability. Sorry about that.

Take trading advice here and confirm with your own analysis. Learn Ichimoku Cloud, Fibonacci, 50/200 daily moving averages/RSI and learn to make your own trading decisions. You don't become a profitable trader in one month for most it takes at least a year with guidance from a mentor. Most new traders get wiped out and quit if they are on their own.

In the future I will be posting any important bitcoin analysis or trading set ups on my own website. I have not devoted much time to it lately (too busy trading) but that will change.

[Dakustaking76]

BTC related question:


I geus were on a correction? From €66xx back to €63xx

Damn when are we going to explode upwards

What are you talking about?

First of all this is a BTC/USD tracking thread, so why are you citing BTC prices in terms of pounds Euros?  [this sentence edited based on a subsequent post of Robin, Hood]

Second, BTC prices remain in a consolidation zone... In recent days they are neither going down or up.. Haven't you noticed?  Of course not, you are too busy wishing and trolling your wishes.  Yes, there may have been some posters and some proclamations asserting predictions that BTC prices going up or down or even granting greater chances to UP rather than DOWN - yet the mere fact that BTC prices are stalling within a not too dramatic consolidation range does not really tell us much of anything.

Regarding the zone of the actual consolidation, perhaps $7k is the low that would need to be broken before you start shooting your FUD spreading load too quickly, and even then, breaking $7k support would not necessarily indicate that BTC prices are going to break below $6,500, or $5k or even go below $3k as you likely would prefer in your preferred wet dream scenario.

Uhm lal i didnt post to troll grrr

[rolling]

bitcoin just had a 14.7% difficulty change upwards. that's the biggest since january. there sure is a lot of firepower out there somewhere.

The difficulty increased by 634 billion which is the largest increase in the history of bitcoin. The increase in this period alone is nearly equal to the entire network difficulty 1 year ago.