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

[inca]

Anyone else think it is ironic that americans love to slag off greece for growing an unpayable national debt and going broke? I mean the fed printed how much of your deficit last year? Or the year before? Or the year before that? lol..

Literally the only difference between the US/UK/Japan and greece is a magical money printing machine denominated in greek euros.

The ECB will print. What else can they do?

[empowering]

Greek deal is reached (apparently - though we have had many false starts). Bitcoin is flat... interesting.

It's so funny to watch. Syriza was all like "we're getting out of the Euro, blablabla".
What did they get? An extension which would have been granted to any political party who would have won.
A change of name for the Troika, so that they can brag to the Greek citizens.
Ridiculous.

I guess they capitulated when they saw how close their Banks were to complete collapse (1Billion Euro Deposit flight today). That, or they threatened their families lol.

Though this isn't over until its over. I would not be surprised if the Greeks throw a curve ball - maybe deliver some watered down version on Monday and we are back to "he said she said".

"I don't mind broken Promises. I just think: Why did they believe me?" ~Jack Handy

I'm starting to suspect Jack was a Greek.

Like taking Jack Handy from a baby.

[Richy_T]

Naturally, Mr. Katz brought along an extra $3.5k in cash, because...  because BITCOIN!!!

I mean, that's so unsafe!  Anon could have died of happiness and laughter Angry


The album will be out on iTunes next week, brought to you by MC Bitty Beat

He probably got that/or had it form someone else. He sounds like a runner to me., with the exchange service as bullshit. 

Ah, you suspect he was selling powdered bitcoins in little ziplock baggies?

[billyjoeallen]

Anyone else think it is ironic that americans love to slag off greece for growing an unpayable national debt and going broke? I mean the fed printed how much of your deficit last year? Or the year before? Or the year before that? lol..

Literally the only difference between the US/UK/Japan and greece is a magical money printing machine denominated in greek euros.

The ECB will print. What else can they do?

There's a huge difference between borrowing from your own central bank and borrowing from some other country's banks. And yes, the ECB will print.

"If I ever get rich, I hope I'm not real mean to poor people, like I am now."~Jack Handy

[empowering]

<putsontinfoilhat>  Maybe they are going to use the next four months  (or do I mean days?) to prepare for a soft grexit, rather than dealing with a hard grexit sooner. Or maybe they are just trying to figure out how to phrase the word "default" so it sounds more like "perpetual bond"

<leavestinfoilhatonbecausesinceputtinghatonhavebecomeconvincedthattheNSAarereadi ngmythoughts>

[bassclef]

hi guys!

you are not able to break 250.  

THE “JUMP” ACROSS THE CREEK” ANALOGY

The term “jump” was first used by Robert G. Evans, who piloted the Wyckoff Associates educational enterprise for numerous years after the death of Richard D. Wyckoff. One of his more captivating analogies was the “jump across the creek” (JAC) story he used to explain how a market would break out of a trading range. In the story, the market is symbolised by a Boy Scout, and the trading range by a meandering creek, with its “upper resistance line” defined by the rally peaks within the range. After probing the edge of the creek and discovering that the flow of supply was starting to dry up, the Boy Scout would retreat in order to get a running start to “jump across the creek.” The power of the movement by the Boy Scout would be measured by price spread and volume.

Defining the Jump

A jump is a relatively wider price-spread move made on comparatively higher volume that penetrates outer resistance or support. A backup is a test that immediately follows the jump – a relatively narrow price-spread reaction or rally on comparatively lighter volume that tests and confirms the legitimacy of the preceding jump action.

does this work backwards?  

jump - > dip

Absofruitly.

When it works backwards, the Boy Scout is instead testing support, which in a distribution trading range is indicated as "ice" instead of a "creek." The Scout tests and eventually falls through on heavier selling and is unable to break back above the ice, and the price drowns.

As we are probably not in a distribution trading range (strong buy support, little downward movement on shakeouts, plenty of floating supply removed from market following the Bter news) this does not apply.

[Erdogan]

Weekend pump or weekend dump?

Smart trader: We had a pump last weekend, and since statistics with a sample of one is a good statistic, we will have a pump this weekend BUY

Smarter trader: Smart traders are smart, but I am even smarter, so I do the opposite SELL

Even smarter trader: Some traders think they are smart, some think they are smarter, but I am going to front run them all BUY


Kenesian econometrist: I have this model with a hundred variables, including the velocity of money, which I have trimmed with love and care so I can prove that it is historically correct, so I know (those blind sheep...) but I won't tell anyone until monday.

[empowering]

hi guys!

you are not able to break 250.  

THE “JUMP” ACROSS THE CREEK” ANALOGY

The term “jump” was first used by Robert G. Evans, who piloted the Wyckoff Associates educational enterprise for numerous years after the death of Richard D. Wyckoff. One of his more captivating analogies was the “jump across the creek” (JAC) story he used to explain how a market would break out of a trading range. In the story, the market is symbolised by a Boy Scout, and the trading range by a meandering creek, with its “upper resistance line” defined by the rally peaks within the range. After probing the edge of the creek and discovering that the flow of supply was starting to dry up, the Boy Scout would retreat in order to get a running start to “jump across the creek.” The power of the movement by the Boy Scout would be measured by price spread and volume.

Defining the Jump

A jump is a relatively wider price-spread move made on comparatively higher volume that penetrates outer resistance or support. A backup is a test that immediately follows the jump – a relatively narrow price-spread reaction or rally on comparatively lighter volume that tests and confirms the legitimacy of the preceding jump action.

does this work backwards?  

jump - > dip

Absofruitly.

When it works backwards, the Boy Scout is instead testing support, which in a distribution trading range is indicated as "ice" instead of a "creek." The Scout tests and eventually falls through on heavier selling and is unable to break back above the ice, and the price drowns.

As we are probably not in a distribution trading range (strong buy support, little downward movement on shakeouts, plenty of floating supply removed from market following the Bter news) this does not apply.

....and then what happens to the dead scout?

[ChartBuddy]

Coin
Explanation

[bassclef]

....and then what happens to the dead scout?

I think you missed the point.

[billyjoeallen]

Weekend pump or weekend dump?

Smart trader: We had a pump last weekend, and since statistics with a sample of one is a good statistic, we will have a pump this weekend BUY

Smarter trader: Smart traders are smart, but I am even smarter, so I do the opposite SELL

Even smarter trader: Some traders think they are smart, some think they are smarter, but I am going to front run them all BUY


Kenesian econometrist: I have this model with a hundred variables, including the velocity of money, which I have trimmed with love and care so I can prove that it is historically correct, so I know (those blind sheep...) but I won't tell anyone until monday.

You question gives away the answer: If what happens is what the most people least suspect, then we'll go sideways, because that wasn't even an option in your question.

[empowering]

....and then what happens to the dead scout?

I think you missed the point.

The point is there is a dead scout... someone has to inform next of kin, retrieve the lad, there are logistics involved here.. we could just leave him there but scouts honor says never leave a scout behind at the bottom of an icy lake.

[LewiesMan]

seems to be holding, weirdly enough.

[bassclef]

seems to be holding, weirdly enough.

The only thing preventing higher prices is the amount of selling...

The only thing preventing lower prices is the amount of buying...

[billyjoeallen]

seems to be holding, weirdly enough.

Yeah what's weird about it is that the 1 HR moving average was in immanent danger of crossing, which almost always means a dump.

[petahashminer]

seems to be holding, weirdly enough.

Yeah what's weird about it is that the 1 HR moving average was in immanent danger of crossing, which almost always means a dump.

Yeah what's weird about it is that the 1 DAY moving average was in immanent upward crossing, which almost always means a PUMP.

[Erdogan]

Weekend pump or weekend dump?

Smart trader: We had a pump last weekend, and since statistics with a sample of one is a good statistic, we will have a pump this weekend BUY

Smarter trader: Smart traders are smart, but I am even smarter, so I do the opposite SELL

Even smarter trader: Some traders think they are smart, some think they are smarter, but I am going to front run them all BUY


Kenesian econometrist: I have this model with a hundred variables, including the velocity of money, which I have trimmed with love and care so I can prove that it is historically correct, so I know (those blind sheep...) but I won't tell anyone until monday.

You question gives away the answer: If what happens is what the most people least suspect, then we'll go sideways, because that wasn't even an option in your question.

Honestly, I don't have the faintest idea where we are going...

EDIT: except a small overweight on up, since I believe in the long term success, and if so, we will have to go upwards more than downwards, in general.

[LFC_Bitcoin]

I think we may be about to make a break upwards

[billyjoeallen]

It's easy to sit there and say you'd like to have more money. And I guess that's what I like about it. It's easy. Just sitting there, rocking back and forth, wanting that money.  
~Jack Handy

[Erdogan]

Greek deal is reached (apparently - though we have had many false starts). Bitcoin is flat... interesting.

It's so funny to watch. Syriza was all like "we're getting out of the Euro, blablabla".
What did they get? An extension which would have been granted to any political party who would have won.
A change of name for the Troika, so that they can brag to the Greek citizens.
Ridiculous.

They need a better meme before this is over

Troika repayment redefined
Flexible repayment
Soft repayment
Dignity deal
Prosperity swap
No greek left behind
Euro Unity Reassurance deal
Responsible Prosperity
respionsible anti austerity
Hellenic eternal enlightenment revival and inclusion treaty of the 21.century

Something.

Happy to quote myself here, because it was borderline brilliant. Anyone want to chirp in? A good meme for the politically grand success of todays Eurogroup meeting.