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

[Torque]

it also shows desperate phase, they bringing the big guns out now because nothing else working

says volumes

Yep.

Also, the whales have to keep up the pressure to dump and short. Because they know that once the technicals turn upward for good, the thousands of trading bots take over and the start of a new bull run gets solidified. Then other long investors and traders start coming back in. They lose a bit of control over the float and the direction of the market at that point.

[Globb0]

I sold bits and pieces. Not enough that I'm not a mountain of regret. TBH

Don't forget at that convenient time everyone could have been rich. Their funds were also all tied up in KYC.

[Elwar]

You know the signature campaigners must have taken over the rest of bitcointalk if theymos is finally retreating to this thread too.

[Globb0]

You know the signature campaigners must have taken over the rest of bitcointalk if theymos is finally retreating to this thread too.

I tried to go out there a few times, to spread the merit.

Its a sad world.

[shahzadafzal]

You know the signature campaigners must have taken over the rest of bitcointalk if theymos is finally retreating to this thread too.

That is a dark truth, finding a healthy discussion on bitcointalk is as rare as seeing BTC crossing $9k mark

[mymenace]

it also shows desperate phase, they bringing the big guns out now because nothing else working

says volumes

Yep.

Also, the whales have to keep up the pressure to dump and short. Because they know that once the technicals turn upward for good, the thousands of trading bots take over and the start of a new bull run gets solidified. Then other long investors and traders start coming back in. They lose a bit of control over the float and the direction of the market at that point.

the pressure has been building for a while, but them whales got plenty of ammo
fear could intensify, multiple exchanges, legislation, that kind of shit


it lends to the strategy we have to employ of trading up and down, hodl to keep any profit driven momentum now or in the future

otherwise this pressure, if not there, i feel would see some serious new prices



eagerly awaiting the IG report (very soon, tomorrow) to see if there is any market awareness of the federal reserve manipulation under the Obama administration

[shahzadafzal]

So it was Tether!! I never did a single transaction in Tether and never trusted this filthy monster!!

“Tether seems to be used both to stabilize and manipulate Bitcoin prices,” finance professor John Griffin and co-author Amin Shams wrote in a paper released Wednesday.

https://www.bloomberg.com/news/articles/2018-06-13/professor-who-rang-vix-alarm-says-tether-used-to-boost-bitcoin

[mymenace]

So it was Tether!! I never did a single transaction in Tether and never trusted this filthy monster!!

“Tether seems to be used both to stabilize and manipulate Bitcoin prices,” finance professor John Griffin and co-author Amin Shams wrote in a paper released Wednesday.

https://www.bloomberg.com/news/articles/2018-06-13/professor-who-rang-vix-alarm-says-tether-used-to-boost-bitcoin

I mean everyone has known they've been printing tether for years now.

yep

been waiting for the announcement, did not want it now, but there it is


reminder to self: top up trezor

[gentlemand]

yep

been waiting for the announcement, did not want it now, but there it is

It's an opinion.

You need a definitive smoking gun such as the owner of Bitfinex saying on camera 'I am pulling value from thin air. Tee hee HEE' before you can put your knickers on your head and run around the garden screaming.

[Elwar]

So it was Tether!! I never did a single transaction in Tether and never trusted this filthy monster!!

“Tether seems to be used both to stabilize and manipulate Bitcoin prices,” finance professor John Griffin and co-author Amin Shams wrote in a paper released Wednesday.

https://www.bloomberg.com/news/articles/2018-06-13/professor-who-rang-vix-alarm-says-tether-used-to-boost-bitcoin

Never trust a college professor when it comes to Bitcoin.

They are the very very least knowledgeable about Bitcoin in all of the world. They don't just not understand it, their brains believe the opposite of it.

[Torque]

To anyone thinking BTC price will drop once the USDT shenanigans are exposed:

Imagine there's a small planet of fishermen who use shells as currency. There's a limited supply of shells.

One day an astronaut arrives  from an advanced planet; he carries a secret device which allows him to create several fake shells.
For some weeks the astronaut buys a lot of local diamonds (unique and also limited in supply). He pays with his synthetised shells but the fishermen don't know they're fake and thus his market demand drives the diamonds prices up.

One day the astronaut returns to his planet with the diamonds and then the fishermen find out all the shells he gave them were fake and have now turned to ash.

Will the price of diamonds go down?

Nope.

The fishermen will still use shells to buy diamonds, and astronaut gone or not, there's still the same amount of shells around and the same amount of diamonds.

Kinda like the way the wealthy elite have gamed the system to print fiat out of thin air, then turn around and use it to buy real assets (businesses, stock shares, real estate, PMs, etc.) with that printed fake money. The assets themselves never really go down in value, but the fiat purchasing power sure does.

One day it'll all hyperinflate and go poof. And then they'll reset and start the game all over again.

[toknormal]

$4500 incoming now that the 3-descending triangle base is broken.

Probably bottom out around $3500 with a possible capitulative wick on the weekly down to $1700.

[ol92]

$4500 incoming now that the 3-descending triangle base is broken.

Probably bottom out around $3500 with a possible capitulative wick down to $1700.

How do you see the 3 descending triangle base broken? : the three lows are around the same levels for me (the second is a little bit higher than the first and third).

[Torque]

Hey it'll probably spike down to sub $600!! /s

When bearish calls get really stupid, the bottom is close.  

[d_eddie]

$4.5k might not happen, but mid $5k could. SOMA prediction. Almost completely wrong, almost all the time!

[toknormal]

$4500 incoming now that the 3-descending triangle base is broken.

Probably bottom out around $3500 with a possible capitulative wick down to $1700.

How do you see the 3 descending triangle base broken? : the three lows are around the same levels for me (the second is a little bit higher than the first and third).

Ok, I'll give you that.

Stay of execution then.

We wait.

We watch

[TrumpD]

Hey it'll probably spike down to sub $600!! /s

When bearish calls get really stupid, the bottom is close.  

As scary as this sounds, I wouldn't be surprised if that happened. I am at the stage where all I do is pray and hope while fearing the worst. Anything under $5k, and its full panic station.

[Tyr808]

To anyone thinking BTC price will drop once the USDT shenanigans are exposed:

Imagine there's a small planet of fishermen who use shells as currency. There's a limited supply of shells.

One day an astronaut arrives  from an advanced planet; he carries a secret device which allows him to create several fake shells.
For some weeks the astronaut buys a lot of local diamonds (unique and also limited in supply). He pays with his synthetised shells but the fishermen don't know they're fake and thus his market demand drives the diamonds prices up.

One day the astronaut returns to his planet with the diamonds and then the fishermen find out all the shells he gave them were fake and have now turned to ash.

Will the price of diamonds go down?

Nope.

The fishermen will still use shells to buy diamonds, and astronaut gone or not, there's still the same amount of shells around and the same amount of diamonds.

Kinda like the way the wealthy elite have gamed the system to print fiat out of thin air, then turn around and use it to buy real assets (businesses, stock shares, real estate, PMs, etc.) with that printed fake money. The assets themselves never really go down in value, but the fiat purchasing power sure does.

One day it'll all hyperinflate and go poof. And then they'll reset and start the game all over again.

Not exactly the same; Federal Reserve (and other central banks) do not create money out of thin air as they need to be solvent for what they emit (which with fractional reserve must be indeed only a fraction of their output); they do however profit from the interest generated by this multiplied supply they emit. This interest is "out of thin air" generated revenue - yes.
But whoever issues USDT goes even further than this, as they do actually create money out of thin air.
Even calling it Monopoly money is a compliment since USDT doesn't even cost paper.

[Torque]

Hey it'll probably spike down to sub $600!! /s

When bearish calls get really stupid, the bottom is close.  

As scary as this sounds, I wouldn't be surprised if that happened. I am at the stage where all I do is pray and hope while fearing the worst. Anything under $5k, and its full panic station.

[Phil_S]

$4500 incoming now that the 3-descending triangle base is broken.

Probably bottom out around $3500 with a possible capitulative wick down to $1700.

How do you see the 3 descending triangle base broken? : the three lows are around the same levels for me (the second is a little bit higher than the first and third).

Ok, I'll give you that.

Stay of execution then.

We wait.

We watch

Soon it might look like a falling wedge.