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

[macsga]

I'm not trying to be funny but how does the current order book justify the current price?

Pretty funny actually

Yep, tons of longs, its time for the last market raping.

Ok. I 'm not a trader, so I won't pretend that I understand this chart (I don't) but what exactly the long/swaps have to do with the price is beyond my imagination. Is there a way for someone who possesses those to turn it (somehow) to BTCs? Is this a leveraged trading indicator (ie: the guys who bet that USD/BTC will be higher? ). If someone has the knowledge, please share for an ignorant chap.

Thanks

[nioc]

Monkey thinks price will be downish until Monday-Wednesday turn starts a steady upward move, but 250 will hold the bottom.

I ask again, has your monkey got this bitcoin thing down yet?  I know he/she was a bit weak several months ago.

Definitely improving.  This year he wanted me to buy at 200 on 1/20, and at 215 on 2/10, then wanted me to sell at 292 on 3/11.
I wasn't paying attention at the time, though.  Right now, intraday, he thinks it goes up for an hour or two, then pulls back.  He
sees near-term resistance at 272 and support in the 242-253 range, pegs daily support at 236-245, and says it will turn up by
Tuesday.  (He's constantly adjusting, until he makes a buy or sell signal, then he stands pat and lets price decide if he was
right or wrong.)

On a weekly basis he says the buy point was 2/1, expects a few more weeks of up-trend, and again sees resistance at 378-380,
but allows that it may not turn, but only take a correction, to end the contiguous trend.

 

Long term projection?

Date Registered:   February 10, 2011, 03:17:51 PM

and you are asking a monkey for a long term projection?  

I have no doubts, do you?

[macsga]

Monkey thinks price will be downish until Monday-Wednesday turn starts a steady upward move, but 250 will hold the bottom.

I ask again, has your monkey got this bitcoin thing down yet?  I know he/she was a bit weak several months ago.

Definitely improving.  This year he wanted me to buy at 200 on 1/20, and at 215 on 2/10, then wanted me to sell at 292 on 3/11.
I wasn't paying attention at the time, though.  Right now, intraday, he thinks it goes up for an hour or two, then pulls back.  He
sees near-term resistance at 272 and support in the 242-253 range, pegs daily support at 236-245, and says it will turn up by
Tuesday.  (He's constantly adjusting, until he makes a buy or sell signal, then he stands pat and lets price decide if he was
right or wrong.)

On a weekly basis he says the buy point was 2/1, expects a few more weeks of up-trend, and again sees resistance at 378-380,
but allows that it may not turn, but only take a correction, to end the contiguous trend.

 

Long term projection?

Date Registered:   February 10, 2011, 03:17:51 PM

and you are asking a monkey for a long term projection?  

I have no doubts, do you?

LOL on the comment. I would like to buy/rent your monkey. I bet he's a better trader than what I am. Every single time I tried it ended up to a disaster

PS: Seriously, is this for sale?

[bassclef]

I'm not trying to be funny but how does the current order book justify the current price?

Pretty funny actually

Yep, tons of longs, its time for the last market raping.

Ok. I 'm not a trader, so I won't pretend that I understand this chart (I don't) but what exactly the long/swaps have to do with the price is beyond my imagination. Is there a way for someone who possesses those to turn it (somehow) to BTCs? Is this a leveraged trading indicator (ie: the guys who bet that USD/BTC will be higher? ). If someone has the knowledge, please share for an ignorant chap.

Thanks

It doesn't mean anything, really, about the future direction of the market. A whale or two could margin call the "poorer" shorts or longs that are over-leveraged and trapped into $20-30 price difference, but the majority of them on that graph will take much more % price change. It's an indicator about what the vast majority of traders think about the market, and the market sometimes moves against that direction, sometimes not. Then again shorts were very high during the bear market and the price didn't rocket up because of that.

Market moves on supply and demand at a given time and little else.

[Trolfi]

Dear "Stolfi",

I have come across the page:

http://www.ic.unicamp.br/~stolfi/bitcoin/2014-02-17-HowToMakeSomeEasyMoney.html

It appears you formed the impression around February 2014 that bitcoin is a pyramid scheme. Since that date, however, you have thoroughly educated yourself on the technology, tacitly admitting that it constitutes an advance in CS and in economics. In any case, you no longer think being a pyramid is one of bitcoin's top six drawbacks.

Would you consider removing HowToMakeSomeEasyMoney.html? This would (i) keep you honest in your role as public tech advisor, (ii) remove some silly stuff from the web, (iii) prove that you are indeed Prof. Stolfi.

Removing the page evidently does not run contrary to your reasonable claim that currency speculation is a highly unorthodox and risky form of investment.

[ChartBuddy]

Coin
Explanation

[JayJuanGee]

Contrary to the weightiness of the poll towards below $270, I'm still thinking in the $290s range by close of business monday (Eastern time), but what da fuck do I know?   

[BlindMayorBitcorn]

Contrary to the weightiness of the poll towards below $270, I'm still thinking in the $290s range by close of business monday (Eastern time), but what da fuck do I know?   

Clearly

[JayJuanGee]

Contrary to the weightiness of the poll towards below $270, I'm still thinking in the $290s range by close of business monday (Eastern time), but what da fuck do I know?   

Clearly

Finally, someone agrees with me.  GREAT!!!!!!     I hope you are NOT a bot, BMB?

[BlindMayorBitcorn]

Contrary to the weightiness of the poll towards below $270, I'm still thinking in the $290s range by close of business monday (Eastern time), but what da fuck do I know?   

Clearly

Finally, someone agrees with me.  GREAT!!!!!!     I hope you are NOT a bot, BMB?

Would a bot do this:

[JayJuanGee]

Contrary to the weightiness of the poll towards below $270, I'm still thinking in the $290s range by close of business monday (Eastern time), but what da fuck do I know?   

Clearly

Finally, someone agrees with me.  GREAT!!!!!!     I hope you are NOT a bot, BMB?

Would a bot do this:

clearly        You must be a bot... 

[ChartBuddy]

Coin
Explanation

[empowering]

What does the man on the moon do when his beard gets too long?

Eclipse it.

[empowering]

badum tish

[BlindMayorBitcorn]

What does the man on the moon do when his beard gets too long?

Eclipse it.

Google search:moon beard

[empowering]

http://www.badum-tish.com/

[BlindMayorBitcorn]

http://www.badum-tish.com/

The pause feature seems hardly necessary

[Meuh6879]

Google search:moon beard

[ChartBuddy]

Coin
Explanation

[shmadz]

https://bitcoinmagazine.com/19652/credit-suisse-publishes-paper-bitcoin-explores-integration-traditional-financial-system/

Swiss is always two steps ahead!

"Who do you trust more, your own central bank or an anonymous online network?”

Hmmm... Should I trust a privately owned central bank where the identities of the owners are not disclosed? Where meetings are held behind closed doors under cover of secrecy?

Or should I trust a distributed, open-source, transparent network where everything is done out in the open and can be vetted and audited by anyone?

... tough choice.