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

[billyjoeallen]

A guy said the longer we stay stable at this price, the higher the chance that we will be going down. Because we're still in a downtrend.

I tend to think otherwise; if we stay stable at this price, then that is because the downtrend is losing strength which is obviously a bullish thing.

What do you guys think?

I think he's prolly right, but it's not gonna go down by much and it's not gonna go down for long. I mean who could possibly be holding onto BTC for maybe years only to dump it under $200 now? After all we've been through, who could get scared of a ~$20 drop now who hasn't already dumped?

The good thing about this market is it only takes 1/5th as many bulls to support a stable price as it did near the top.  

[billyjoeallen]

Lets try to relate this discussion back to bitcoin somehow. At what point does bad government monetary policy "break the system?"

It's actually central bank policy and not government policy, but when there is apolitical loss of faith in the currency. That, my friends, is real hyperinflation. The other way is for deflation to reach the point where it triggers a run on the banking system.

[razorramon]

bears have to try harder if they want to break below 200...even 210 is too far away

walls moved slightly higher

[ChartBuddy]

Coin
Explanation

[RD965]

bears have to try harder if they want to break below 200...even 210 is too far away

walls moved slightly higher

Breaking up 220, lets see those 300 again 

[razorramon]

bears have to try harder if they want to break below 200...even 210 is too far away

walls moved slightly higher

Breaking up 220, lets see those 300 again 

first 230...but it is looking good...a decent increase would be a relief

[RD965]

bears have to try harder if they want to break below 200...even 210 is too far away

walls moved slightly higher

Breaking up 220, lets see those 300 again 

first 230...but it is looking good...a decent increase would be a relief

I know I was expecting higher highs

[ChartBuddy]

Coin
Explanation

[nor9865]

bears have to try harder if they want to break below 200...even 210 is too far away

walls moved slightly higher

Breaking up 220, lets see those 300 again 

first 230...but it is looking good...a decent increase would be a relief

I know I was expecting higher highs

Be patient and some highs will occur.

[spooderman]

bears have to try harder if they want to break below 200...even 210 is too far away

walls moved slightly higher

Breaking up 220, lets see those 300 again 

first 230...but it is looking good...a decent increase would be a relief

I know I was expecting higher highs

Be patient and some highs will occur.

ok!

*gets high*

[ChartBuddy]

Coin
Explanation

[razorramon]

looks like yesterday...just with more resistance

[mrkavasaki]

[600watt]

You judge Europe as if it's a singular behemothic superstate.

HUH?? I implied nothing of the sort. It's a multi-juristictional bureaucratic nightmare, But which country is in which organization is not really relevant to my point which is that a monetary union cannot succeed without fiscal and/or political union.

I used to think the U.S. Dollar was the worst possible form of currency, marrying fiat with fractional reserve lending, but you Europeans actually surpassed us. You combined the inflationary instability of fiat with the inflexibility of hard currency AND fractional lending. Wow, that's an accomplishment. I mean I know the Euro is nothing like a PM-backed currency, but to member states that need to adjust monetary policy differently, it might as well be.

and the winner is.... german export blitz.

to the german export industry the euro is not a nightmare but a wet dream come true. an economy with such export strength would sooner or later get a stronger currency = higher prices for their goods = less sales. germany is (ab)using the weak PIGS countries as class a weapons in the currency war.  it could not work better for them.

all this just to get a giant trade surplus.

[razorramon]

bear whales will have to risk more if they want to start a panic sell

[ghandi]

DRK is doing really well

[tarmi]

bear whales will have to risk more if they want to start a panic sell

no problemo

[razorramon]

DRK ist doing really well

ahh...the drk pump & dump...

[ghandi]

DRK ist doing really well

ahh...the drk pump & dump...

Probably. But climbing the third day in a row.

[razorramon]

not seeing it yet...looks pretty weak...worse than yesterday (for bears)