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

[El duderino_]

On the bright side of things we need to get a small number of 25-30ish percent corrections under our belt as we march to 100k, so if we get the first one here then that is some serious progress. Really looking forward to the crash from 25k to 17.5k

25-30% from 7400 is around 5000.  

There may be some good support at 6k, but if that fails then 5k is a good level to build from. Time is in some ways more important than price.  Support levels are created through trade and time spent at a particular level.

I am hopeful that 6k will hold, but 5k would not be so bad. Although I don't trade, I would think it prudent for those who took profits at ~7300 to buy at least half back when it gets to 6300.

I also think, rollback to 6400, then the assault of the level of 8200 and 10 000.

^
Then
.....

[rolling]

$3 million Bitfinex wall chewed up and spat out. Any rational reason why Bitfinex led the charge and now is lagging behind?

I think this is an organic rally driven by small buyers.  And they aren’t the sort of people who would wire their funds to Bitfinex to buy.  Bitfinex is a whale playground.

Isn't Bitfinex still closed to U.S. residents? If this is driven by money from the U.S., it would make sense that Bitfinex was lagging.

[JimboToronto]

Good AM Bitcoinland.

It seems $7k is offering much more resistance than the supposedly strong $6k. After breezing through $7k all the way past $7.5k it hit a wall and has corrected all the way back down under $6.9k... currently $6923USD/$9292CAD (Bitcoinaverage).

This correction is not only welcome but overdue. No one wants to see the price gallop away and explode. Let's keep a sustainable level of growth. It seems I was posting the same thing for much of 2017. It was when it ran rampant in December of that year that it led to the bubble and burst. It's so much better to have a sustained series of strong rises intermingled with sharp corrections.

Still, it was nice to see the price briefly hit 5 digits in CAD, especially for those who bought coins when the price was in double digits. Some day in the not too distant future when the price hits 6 digits, people who bought in triple digits will feel the same way.

Go Bitcoin go.

[jojo69]

No one wants to see the price gallop away and explode.

Well...

I think we might be able to scrounge up one or two dissenters.

[El duderino_]

via Imgflip Meme Generator

Sunday, most Classic Belgian sober up Sh*t ...called “frituur” only lot of meat but please French actualy Belgian Fries, Bicky Veggie burger and Some cheese, oriental snacks (f*ck 90% is Made of meat)

Cheers boys and let the price rise again, of-course a only straight up line is just not gonna happen

[jbreher]

Back to the drawing board. Needs moar random circles and lines.

[kenzawak]

It's just that I don't understand the concept of a blockchain week if tickets for every event are gonna cost from $500 to $2000.
You know what, I'm in NYC right now (I didn't want to mention it until I had something interesting to post about it. Not sure that will happen lol). I'm not here for long and I've been looking for something I could attend to but there's no way I'm paying these kinds of prices.
https://www.magicalcryptoconference.com/
https://www.coindesk.com/events/consensus-2019/register

This should be open to regular folks, not just people from the industry.

So I'm in New York today and let me tell you this is not the best day to walk in Manhattan, it hasn't stopped raining since this morning !
Anyway, like I said, I didn't plan on going to any event of the Blockchain week. I don't have much spare time here and I wasn't willing to spend from 300 to $2000 for just one event... I'd rather buy Bitcoin with that money.  

But since it wasn't too far from my hotel I still wanted to check it out.
So I went to the Hilton on 53rd and 6th, the hotel that will host Consensus from Monday to Wednesday.
On my way I made a few stops, the first one being on 47th st, between 6th and 5th avenue, where there are many gold exchanges.
About half of them accept Bitcoin.

[kenzawak]

Any idea how this sculpture is called ? It's at the Rockefeller Center.



This one is Atlas carrying the Globe, again at Rockefeller Center.

[kenzawak]

In front of the Hilton :





Consensus is supposed to start tomorrow. I went inside the hotel but didn't see any of the "big shots" of the industry, at least not live.



I asked at the Bell Desk if there was any event opened to the public...well nope, you either have a badge or you don't.
Too bad...

[kenzawak]

I also stopped by the Magical Crypto Conference on 18th st. between 6th and 7th avenue.
Same thing, you either had a badge or not.
Apparently, it was lunch time for most of them as they were waiting in line in front of a food truck vendor.
I'm not familiar with any of them so if you recognize any of these guys, please share.
I know some big names were present :
https://www.magicalcryptoconference.com/






If you wanna follow the event, you can go here :
https://www.magicalcryptoconference.com/livestream


I didn't see any Lambo but those Gemini taxis are still here :





Back to my room now, where two huge Captains are watching over me (the billboard is litterally just in front of my window) :

[MrFreeRoMan]

Back to the drawing board. Needs moar random circles and lines.

Who’s Behind The Mysterious Beef Crop Circle? 

[JayJuanGee]

On the bright side of things we need to get a small number of 25-30ish percent corrections under our belt as we march to 100k, so if we get the first one here then that is some serious progress. Really looking forward to the crash from 25k to 17.5k

25-30% from 7400 is around 5000.  

There may be some good support at 6k, but if that fails then 5k is a good level to build from. Time is in some ways more important than price.  Support levels are created through trade and time spent at a particular level.

I am hopeful that 6k will hold, but 5k would not be so bad. Although I don't trade, I would think it prudent for those who took profits at ~7300 to buy at least half back when it gets to 6300.

Whoaza, Majormax.

Turning into a BIGGER bull than me.   hahahahaha

[Majormax]

I believe manipulation is in full effect currently as these exchanges are trying to cover their butts to liquidate leveraged shorts that have been stacking. As a result this will extend the length of our current bear market, cause a much faster and harder drop and possibly take us to lows lower than previously expected by even the most bearish of bears. Sleep tight!

Looking at a low later this year of sub 2k ?

Low probability IMV .

[Raja_MBZ]

Low probability IMV .

"Probability"? Thanks for reminding:

A wild guess: today is the last day to get bitcoin below $3900.

Yes.  The odds of the truth of that assertion are in the less than 25% arena.

So far so good:

Maybe the odds of going below $3,900 again became slightly better than what they were on March 25, but they have not changed by a lot.. I would not even put them above 45% and that 45% is a bit charitable.  You may end up being correct, regarding your guess, but I am not sure what that would be saying, besides you having had gotten lucky in your guess.  Do you find that valuable in how you live your life?  I certainly try to minimize gambling and guessing in how I live my life, but surely once in a while it is fun.. but that is it.. merely fun rather than something to attach much if any significance.

What are the odds of going below $3900 (again) now, @JJG?

NO matter what we should be preparing for both up and down, if you don't want to end up being disappointed, even if your "never below $3,900 again" dart-throwing sorcery-wannabe pronouncement ends up coming true.   

Well, let's just hope that it does come true!

Hey @JJG! Just wondering, what are the odds of going below $3900 (again) now?

[Majormax]

On the bright side of things we need to get a small number of 25-30ish percent corrections under our belt as we march to 100k, so if we get the first one here then that is some serious progress. Really looking forward to the crash from 25k to 17.5k

25-30% from 7400 is around 5000.  

There may be some good support at 6k, but if that fails then 5k is a good level to build from. Time is in some ways more important than price.  Support levels are created through trade and time spent at a particular level.

I am hopeful that 6k will hold, but 5k would not be so bad. Although I don't trade, I would think it prudent for those who took profits at ~7300 to buy at least half back when it gets to 6300.

Whoaza, Majormax.

Turning into a BIGGER bull than me.   hahahahaha

I am not turning into anything.  Have always been exactly the same in my views. There is still a possibilty of a sub 2k low this year (see above), but I would put it at maybe 10% now.


I  believed the bull was over, and we had entered a bear market when I posted in Jan 2018 , and I now believe that the balance of probabilities is that bear market is ending.

As I said back in Feb 2018, a Bear low of 2k to 3k would seem about right.

edit : but I trust you will put me right if you believe I'm changing !

[Gyrsur]

I also stopped by the Magical Crypto Conference on 18th st. between 6th and 7th avenue.
Same thing, you either had a badge or not.
Apparently, it was lunch time for most of them as they were waiting in line in front of a food truck vendor.
I'm not familiar with any of them so if you recognize any of these guys, please share.
I know some big names were present :
https://www.magicalcryptoconference.com/

now live Luke (SmallBlocker) Dashjr!

https://www.magicalcryptoconference.com/livestream

[JayJuanGee]

Low probability IMV .

"Probability"? Thanks for reminding:

A wild guess: today is the last day to get bitcoin below $3900.

Yes.  The odds of the truth of that assertion are in the less than 25% arena.

So far so good:

Maybe the odds of going below $3,900 again became slightly better than what they were on March 25, but they have not changed by a lot.. I would not even put them above 45% and that 45% is a bit charitable.  You may end up being correct, regarding your guess, but I am not sure what that would be saying, besides you having had gotten lucky in your guess.  Do you find that valuable in how you live your life?  I certainly try to minimize gambling and guessing in how I live my life, but surely once in a while it is fun.. but that is it.. merely fun rather than something to attach much if any significance.

What are the odds of going below $3900 (again) now, @JJG?

NO matter what we should be preparing for both up and down, if you don't want to end up being disappointed, even if your "never below $3,900 again" dart-throwing sorcery-wannabe pronouncement ends up coming true.   

Well, let's just hope that it does come true!

Hey @JJG! Just wondering, what are the odds of going below $3900 (again) now?

Hahahahaha!!!!

You seem to be in a kind of gloating posture....   

Hopefully, you are not trying to convert me into a kind of failed sorcerer because I never claim to know shit - except that I am frequently attacking and criticizing folks (moreso bears than bulls) who attempt to assign way too much certainty to any price events.... and it does not make them any more correct in their initial prediction, merely because they happened to guess correctly.

So, yeah, you are correct to point out that BTC prices have moved a considerable distance from $3,900 and presumptively pointed out that the odds have likely gotten greater, than previously, that we will not go below $3,900 ever, ever again. 

The odds of going below $3,900 is likely similar to whether the bottom is "in" or not.. maybe slightly higher odds for going below $3,900 than if the bottom is in at $3,122...

Another question is whether we are going to test our support at the $4,200 break out levels.  So if testing the bottom of $3,122 might be as high as 46%... then going below $3,900 might be in the 47% arena, and testing $4,200 would be in the 48-49% arena.    So currently breaking below $5k seems to be in the 50/50 area. 

Those are my tentative and conservative assignments of probability, and I deny any soothsayer qualities, while admit to feel it is a kind of duty of mine to bash those who proclaim soothsayer qualities, even though I am inclined to think that currently, the odds for UP seem to be greater than odds for down, and it would be quite a dramatic change of events (and maybe even categorized as a manipulated bull trap) to even get down to below $3,900 - which would be a greater than 51% price correction (from our current local top of $7585).

[JSRAW]

https://www.rockefellercenter.com/blog/2019/04/25/frieze-sculpture-rock/

Kenzawak this can help you out.

[JayJuanGee]

On the bright side of things we need to get a small number of 25-30ish percent corrections under our belt as we march to 100k, so if we get the first one here then that is some serious progress. Really looking forward to the crash from 25k to 17.5k

25-30% from 7400 is around 5000.  

There may be some good support at 6k, but if that fails then 5k is a good level to build from. Time is in some ways more important than price.  Support levels are created through trade and time spent at a particular level.

I am hopeful that 6k will hold, but 5k would not be so bad. Although I don't trade, I would think it prudent for those who took profits at ~7300 to buy at least half back when it gets to 6300.

Whoaza, Majormax.

Turning into a BIGGER bull than me.   hahahahaha

I am not turning into anything.  

When in doubt, deny.

Have always been exactly the same in my views. There is still a possibilty of a sub 2k low this year (see above), but I would put it at maybe 10% now.

Fair enough.  I would put sub $2k as a bit less than 10%, but who knows, we would have a lot of support levels to break before that outline would once again become feasible, including breaking our current $3,122 low for this corrective cycle.

I  believed the bull was over, and we had entered a bear market when I posted in Jan 2018 , and I now believe that the balance of probabilities is that bear market is ending.

I think that we concur that the bear market has likely ended.

As I said back in Feb 2018, a Bear low of 2k to 3k would seem about right.

I stand by my statement, too, and I had asserted that you had predicted too early.... even though you ended up being correct... so nothing wrong with either of that. 

We are at least seeming to agree, currently, that signs of UP are looking much better now than they had been, in any event.

[kenzawak]

https://www.rockefellercenter.com/blog/2019/04/25/frieze-sculpture-rock/

Kenzawak this can help you out.

I knew the name.  

I just thought it was cool that it's called "Behind the Walls".