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

[bones261]

Any news as to why the price jumped today? Was not expecting price to bypass $6740 so strongly.

Anyone know what the shorts vs longs are now? Did many of the shorts decide to cut their losses and bail, or have their stops hit? I'm not certain if this was enough to cause a liquidation on the margin markets that are spot.

[Last of the V8s]

Any news as to why the price jumped today? Was not expecting price to bypass $6740 so strongly.

Anyone know what the shorts vs longs are now? Did many of the shorts decide to cut their losses and bail, or have their stops hit? I'm not certain if this was enough to cause a liquidation on the margin markets that are spot.

28.7K long 34K short
A bit narrower, but as you suspect, we need moar up. $7.2-7.4K would decimate them.

edited for stupid

[realr0ach]

Fake market.  Price moved ENTIRELY by a single entity operating on the fraudulent exchange Bitfinex and their tethers as usual.  It's almost the exact same situation as the Comex.  No/little physical delivery of metals actually occurs there, so they just print up a random number on the screen and claim that's the price even though it has zero connection to the real market.  Comex uses the method to suppress the price, and Bitfinex does this to try and fraudulently raise the price of bitcoin.  

The fact CNBC is now front running these events and telling you to sell right before they attempt to pump and dump probably indicates some TBTF Jew bank like Goldman Sachs might be involved as the entity rigging price on Bitfinex. It's a known fact Goldman Sachs was behind the Ethereum pump because they bought all the premine, so why not bitcoin too?  In-Q-Tel caused the market to crash on purpose and bought up a ton of bitcoins at $1-2 back in the day (in addition to what they already had), so it's like one big circle jerk of the same criminals in traditional finance.

[STT]

Any news as to why the price jumped today? Was not expecting price to bypass $6740 so strongly.

I really dont have that price as anything that big, your 6740 I have as 6500 and already beat it if that makes any sense.  Sure I can see how it can be pencilled in as some significance but what we did in the recent past to run out a downtrend was the more significant move, after that it was reasonable to expect us to continue to the 50 day average at the very least.   Probably or normally BTC rises up, hits it head and maybe sits back down again (if we bearish) , we barely even stood up yet so not that surprised tbh.

Every resistance to me, or what I say from experience is resistance has a kind of magnetised effect to it.  So its resistance but also the price will be drawn to that ceiling and react to it, hence we get the sharp pin candles and people count those as confirmation to support or res I think.   So we are at 50 DMA again, its the 3rd tap and maybe it counts or not.  I dont think it should personally, I think at least 7,200 or so

There is some argument for this area as something of a speed bump, it was lowest price in May and we went sideways here momentarily early August again but I've not noted it as anything.  7200 to 7700 area I think is an area of res or proper ceiling I got on the daily bars so I expect that unless the market is determined we rewind and repeat because this beat so good  

[babanana]

Nice to see bitcoin moving upwards. Its about time. Everything is pretty much at the bottom.

I spread 20% of my BTCs to various shitcoins this past week. Catching dumps and bottoms and super bottoms of shitcoins.
Good luck to us. 

[realr0ach]

Commercial banks are 40:1 short the US dollar right now, indicating they are front running lots of dollar decline.  In the past, most bitcoin pumps in relation to fiats occurred with yuan decline and I don't recall any real bitcoin movements based on dollar decline.  It seems like if yuan declines, lots of China money flows into bitcoin, which is then sent out of China and into the dollar or Vancouver housing or something.  If dollar declines, the flow into bitcoin for capital flight does not occur.

[smartcomet]

[realr0ach]

https://pbs.twimg.com/media/Dlol7ggVsAAF85R.jpg

Nice try shitcoiner, but "digital" does not mean better, it means worse and valueless.  Humans do not live in the digital plane, they live in the physical one.  Everything digital whether is digital US dollars, digital software, or digital shitcoins are nothing more than artificial scarcity scams of temporary value:

If you hoard all the bitcoins in the entire world, there's no way possible for you to extort me by forcing me to buy into your artificial scarcity scam.  I can just ignore you like you don't even exist, or create a new random shitcoin with a distribution that favors me instead of you.  This is called no valid Schelling point.  

However, if I hoard all above ground silver in the world, people actually need it, and I can just set my own price and demand it from you and force you to pay me.  Any type of economic activity you're doing can be completely ignored by everyone else on the planet, so you're like the pig that built his house out of straw by pretending an artificial scarcity scam with no real world use is a store of value.

[HairyMaclairy]

Shut up Hairy!  Don't jinx this with your prognostications.

...

[moneyForjam]

Fake market.  Price moved ENTIRELY by a single entity operating on the fraudulent exchange Bitfinex and their tethers as usual.  It's almost the exact same situation as the Comex.  No/little physical delivery of metals actually occurs there, so they just print up a random number on the screen and claim that's the price even though it has zero connection to the real market.  Comex uses the method to suppress the price, and Bitfinex does this to try and fraudulently raise the price of bitcoin.  

The fact CNBC is now front running these events and telling you to sell right before they attempt to pump and dump probably indicates some TBTF Jew bank like Goldman Sachs might be involved as the entity rigging price on Bitfinex. It's a known fact Goldman Sachs was behind the Ethereum pump because they bought all the premine, so why not bitcoin too?  In-Q-Tel caused the market to crash on purpose and bought up a ton of bitcoins at $1-2 back in the day (in addition to what they already had), so it's like one big circle jerk of the same criminals in traditional finance.

top post . sent u a merit

[Phil_S]

Risitas - Bitcoin Cash Behind the Scenes
https://www.youtube.com/watch?v=01CegebttEU

Funny stuff. 

[JayJuanGee]

https://www.livenewson.com/american/cnbc-america.html
fuckwitted documentary on btc

If the documentary is "fuckwitted," then would there be much if any purpose in sharing it?  Why would any of us want to click on it?

[JayJuanGee]

Shut up Hairy!  Don't jinx this with your prognostications.

It would be nice if bitcoin would go into a bit of a punishing phase.... to punish some of those folks waiting for cheaper coins... or those folks who are waiting for the alt coins to bring them lambos... .  I just don't know if bitcoin is quite ready for punishing phase.. but it would be nice.. a bit of a fantasy of mine to re-live the late 2017 upwards price movements that took a lot of waiting for lower prices folks for a bit of a surprise.

By the way, I seem to recall that a bit more than a week ago, Hairy had said that he had expected a bit of a pump to $7k or even $7,200-ish.. because BTC prices in the lower $6ks seemed to be a bit "oversold."... something like that.

[JayJuanGee]

That's the spirit Rosewater!!!!!   I see you may have temporarily snapped out of your negativisms...    

[DrDoctor1234]

I'm new here. Why does this thread have 21,000 pages? All I see is random charts and pictures of cute animals.

[elrippos friend]

I'm new here. Why does this thread have 21,000 pages? All I see is random charts and pictures of cute animals.

That's for modern amusement, but you will find out 

[Totscha]

I'm new here. Why does this thread have 21,000 pages? All I see is random charts and pictures of cute animals.

It is the heart and soul of Bitcointalk. A random mix of technical analysis, wishful thinking, overwhelming pessimism, conspiracy theories and cute pics. Because, reasons...

[El duderino_]

https://youtu.be/Xs-yBLjamp8

Just for the few dutch speaking in here very funny otherwise don’t open cause not understandble 😂
But Just So funny and @the samen time its about BTC So Thats good and a Nice weekpump Where did that came from

[HairyMaclairy]

I'm new here. Why does this thread have 21,000 pages? All I see is random charts and pictures of cute animals.

It is the heart and soul of Bitcointalk. A random mix of technical analysis, wishful thinking, overwhelming pessimism, conspiracy theories and cute pics. Because, reasons...

It’s the biggest and grumpiest collection of OGs in a single spot. 

[fragout]

Shut up Hairy!  Don't jinx this with your prognostications.

It would be nice if bitcoin would go into a bit of a punishing phase.... to punish some of those folks waiting for cheaper coins... or those folks who are waiting for the alt coins to bring them lambos... .  I just don't know if bitcoin is quite ready for punishing phase.. but it would be nice.. a bit of a fantasy of mine to re-live the late 2017 upwards price movements that took a lot of waiting for lower prices folks for a bit of a surprise.

By the way, I seem to recall that a bit more than a week ago, Hairy had said that he had expected a bit of a pump to $7k or even $7,200-ish.. because BTC prices in the lower $6ks seemed to be a bit "oversold."... something like that.

Ahh 2017. The happy times. We all knew it was nuts though. I dont think we will see its like again though as the the shorters are a force now.
We need to bust ~7500 to break the trend line and 10k to confirm the end of the bear.
This latest rally could just be another dead cat but unlike the April and July bounces, its more sure and steady unlike the 4 pump days of the other 2.
I had to Sodl 50% of my stash (real world bills) so there is a great chance that this is the bottom. I knew i had to sell sometime this year but I was holding out as long as could. It sure felt so wrong though when when i clicked the sell button.