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

[YourMother]

I just bought myself a new Raspberry Pi V2 with bitcoin. Why bitcoin ?

Because it's so much easier to install 10 antiviruses in my computer, backup my wallet 5 times a day because of paranoia, make an account on one of these rigged exchanges, give them passport scans, ID card, KYC forms, Life Diaries and much more, buy my bitcoins at the top of a pump and purchasing my Raspberry the next hour at the bottom of the dump that followed which lowered the price by 30%.

Not to mention, why use a credit card that performs an instant transaction and offers you chargeback when you can use Bitcoin that sometimes requires 1 hour and 42 minutes for a confirmation?

I'm telling you, mass adoption is coming in the next 5 minutes.

[JimboToronto]

Good morning Bitcoinland. More of the same I see.

Moderately high volume, negligible price movement.

The desperate bears frantically try to drive the price down but to no avail. Hilarious.

Mmmm, is that coffee I smell?

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

Remember kids...

the price doesn't matter,

bad news doesn't matter,

China doesn't matter.

Nothing matters in BTCland other than pictures of honey badgers and walls of text proclaiming the NWO.

Lemme save you the time. He says that money only has value because we believe it has value. I suppose that's true in a certain context but useless. Economics professors (he's a prof) only have value because we believe they have value also. What determines MARKET value for anything is supply and demand and what determines the value of something to an individual is marginal utility. Any Econ Prof worth his salt will tell you that the first week of Econ 101.

BillyJoeAllenRedneck firefighter who can't spell his own home state correctly

And of course even those with an education are wrong, wrong, wrong.

So, make sure to keep buying BTC with your credit card...if Cletus here says its good, why worry.

Yanis Varoufakis admits he's a Marxist, which means he's still clinging to the thoroughly discredited Labor Theory of Value when it was replaced by Marginal Utility by all non-Marxist economists about a century ago.

Certain people seem to put an exorbitant amount of effort into discrediting me. Why? I'm a nobody from nowhere. What is it that I am saying that is so dangerous that it requires these ad hominem attacks?

Beware the short squeeze boys and girls. It's coming.

[JimboToronto]

-fart-

...Certain people seem to put an exorbitant amount of effort into discrediting me. Why? I'm a nobody from nowhere. What is it that I am saying that is so dangerous that it requires these ad hominem attacks?...

Don't sweat the petty attacks from the crybaby bears. They get a little testy when things don't go their way.



That said, Jorge Stolfi isn't an economics professor. He got his doctorate in computer science from Stanford. His forte is computers, not economics. Obviously.

[octaft]

What is it that I am saying that is so dangerous that it requires these ad hominem attacks?

Well you are a sexist and a racist, so there is that. To be fair, that is less dangerous and more ignorant, but whateves.

[ElectricMucus]

-fart-

...Certain people seem to put an exorbitant amount of effort into discrediting me. Why? I'm a nobody from nowhere. What is it that I am saying that is so dangerous that it requires these ad hominem attacks?...

Don't sweat the petty attacks from the crybaby bears. They get a little testy when things don't go their way.



That said, Jorge Stolfi isn't an economics professor. He got his doctorate in computer science form Stanford. His forte is computers, not economics. Obviously.

Just like satoshi...

wait, perhaps he is satoshi?!?! 

[fonzie]

Remember kids...

the price doesn't matter,

bad news doesn't matter,

China doesn't matter.

Nothing matters in BTCland other than pictures of honey badgers and walls of text proclaiming the NWO.

Lemme save you the time. He says that money only has value because we believe it has value. I suppose that's true in a certain context but useless. Economics professors (he's a prof) only have value because we believe they have value also. What determines MARKET value for anything is supply and demand and what determines the value of something to an individual is marginal utility. Any Econ Prof worth his salt will tell you that the first week of Econ 101.

BillyJoeAllenRedneck firefighter who can't spell his own home state correctly

And of course even those with an education are wrong, wrong, wrong.

So, make sure to keep buying BTC with your credit card...if Cletus here says its good, why worry.

Yanis Varoufakis admits he's a Marxist, which means he's still clinging to the thoroughly discredited Labor Theory of Value when it was replaced by Marginal Utility by all non-Marxist economists about a century ago.

Certain people seem to put an exorbitant amount of effort into discrediting me. Why? I'm a nobody from nowhere. What is it that I am saying that is so dangerous that it requires these ad hominem attacks?

Beware the short squeeze boys and girls. It's coming.

I´m pretty sure this is the reason why people attack you...

BillieJoeAllen - Destroyer of our oppressive financial system. Some call him savior!

Be careful! Illuminati is watching you!

[JorgeStolfi]

wait, perhaps he is satoshi?!?! 

Damn! I thought that I had removed all the double spaces after periods from all my posts...

[damiano]

Remember kids...

the price doesn't matter,

bad news doesn't matter,

China doesn't matter.

Nothing matters in BTCland other than pictures of honey badgers and walls of text proclaiming the NWO.

Lemme save you the time. He says that money only has value because we believe it has value. I suppose that's true in a certain context but useless. Economics professors (he's a prof) only have value because we believe they have value also. What determines MARKET value for anything is supply and demand and what determines the value of something to an individual is marginal utility. Any Econ Prof worth his salt will tell you that the first week of Econ 101.

BillyJoeAllenRedneck firefighter who can't spell his own home state correctly

And of course even those with an education are wrong, wrong, wrong.

So, make sure to keep buying BTC with your credit card...if Cletus here says its good, why worry.

Yanis Varoufakis admits he's a Marxist, which means he's still clinging to the thoroughly discredited Labor Theory of Value when it was replaced by Marginal Utility by all non-Marxist economists about a century ago.

Certain people seem to put an exorbitant amount of effort into discrediting me. Why? I'm a nobody from nowhere. What is it that I am saying that is so dangerous that it requires these ad hominem attacks?

Beware the short squeeze boys and girls. It's coming.

I think it's likely we can start to see a squeeze very soon

[oda.krell]

[...]

Someone should write a script that parses your comments for 'bull troll' and 'bear troll' mode (they seem to alternate in a roughly bi-monthly rhythm), then use the result as a contrarian indicator. Would be interesting to see the backtest of a strategy based on that ^_^

[JimboToronto]

... His forte is computers, not economics. Obviously.

Just like satoshi...

wait, perhaps he is satoshi?!?! 

Maybe he's Mark Karpeles too and the fat boy is just a front.  DPR?

[samsonn25]

Ema has dropped to 229 and longterm downtrend  still intact.

[ChartBuddy]

Coin
Explanation

[Sitarow]

1:04PM EST

[tomothy]

Does this image have significance of a falling wedge which would be indicative of a possible trend reversal?
It was posted in the trading sim thread. Not mine. I just found it illuminating. I figure we could just continue longer at this stage but it still doesn't change the fact that a reversal seems to be suggested? Albeit possibly short lived due to the proliferation of shorts. Just wondering. Also wondering where those dark profits will go, i.e., back into BTC or LTC.

[bassclef]

Does this image have significance of a falling wedge which would be indicative of a possible trend reversal?
It was posted in the trading sim thread. Not mine. I just found it illuminating. I figure we could just continue longer at this stage but it still doesn't change the fact that a reversal seems to be suggested? Albeit possibly short lived due to the proliferation of shorts. Just wondering. Also wondering where those dark profits will go, i.e., back into BTC or LTC.

It's kind of a stretch. A triangle or whatever continuation pattern you'd choose to use would fit well in the area with the numbered waves, but not encompassing a buying climax on high volume. IMO if you're going to draw triangles and use them in analysis, they cannot be arbitrary. The must connect with multiple high volume areas and the price action should never "jump out of bounds" very much in order to be a valid pattern. Also the connection points should not be super far apart unless you're on a 3d or weekly chart. They are tools for you to understand and identify trading ranges and lower volume consolidation periods, not lines that simply tell you where to trade.

What many traders are missing now is the significance of the selling climax to $160, and the subsequent retest of that area. It is an enormous sign of strength for that many coins to have been transferred from weak hands to strong. I keep hearing "the downtrend is still intact!" Well, technically it is, but you'd better have a close look at that super high volume area that stopped the selling, or you're ignoring a big message the market is trying to tell you.

[SmoothCurves]

Does this image have significance of a falling wedge which would be indicative of a possible trend reversal?
It was posted in the trading sim thread. Not mine. I just found it illuminating. I figure we could just continue longer at this stage but it still doesn't change the fact that a reversal seems to be suggested? Albeit possibly short lived due to the proliferation of shorts. Just wondering. Also wondering where those dark profits will go, i.e., back into BTC or LTC.

It's kind of a stretch. A triangle or whatever continuation pattern you'd choose to use would fit well in the area with the numbered waves, but not encompassing a buying climax on high volume. IMO if you're going to draw triangles and use them in analysis, they cannot be arbitrary. The must connect with multiple high volume areas and the price action should never "jump out of bounds" very much in order to be a valid pattern. Also the connection points should not be super far apart unless you're on a 3d or weekly chart. They are tools for you to understand and identify trading ranges and lower volume consolidation periods, not lines that simply tell you where to trade.

What many traders are missing now is the significance of the selling climax to $160, and the subsequent retest of that area. It is an enormous sign of strength for that many coins to have been transferred from weak hands to strong. I keep hearing "the downtrend is still intact!" Well, technically it is, but you'd better have a close look at that super high volume area that stopped the selling, or you're ignoring a big message the market is trying to tell you.

Beautifully put. Agree 100%

[dsly]

Ema has dropped to 229 and longterm downtrend  still intact.

Whats  Ema ? you mean 219 ?

[ChartBuddy]

Coin
Explanation