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

[ChartBuddy]

Coin
Explanation

[1714129065]

1714129065

[L0uis]

hi guys, still struggling to stay above 270? 

24 mil of longs are opened as expected, rising wedge forming.

good.

There goes your profits

[macsga]

Out of curiosity, and somewhat out of interest, I have been watching some TA. Especially on whaleclub.co. And all I see are some fools running amok with confirmation bias and constantly adjusting accordingly no matter what happens. Is there a useful aspect to TA that isn't so vulnerable to confirmation bias?

Personally, I don't think there is. But then again, I don't believe there's a legitimate TA either. It's like a self-fulfilling prophecy that (if you get it right) you simply say "I told you so". In Physics, it's a low entropy, chaotic model. Practically no chance to get a 100% CERTAIN result. All these is mumbo-jumbo stuff, but frankly I like to stare...

Edit:
Just in case you want to dive into, I indulge you to read this paper:
http://www.asa.cs.uni-frankfurt.de/software/MI2/papers/Grassberger83.pdf

But wouldn't the immaturity of the bitcoin market, which leads it to be forcefully led by whales in different directions, also regularly lead the price outside the model in the paper, or are such variances possible to calculate as well to give an accurate scope?

IMHO it's not about the immaturity. It also applies to other markets such as stocks, oil, silver etc. Since there's always the chance somebody who owns a significant part of the market (or an enormous amount of cash) to just make a ripple big enough to vanish every TA out there, there's not a definitive accurate prediction possible. Not now, nor ever. Same rules apply for other assets as well.

[tarmi]

hi guys, still struggling to stay above 270?  

24 mil of longs are opened as expected, rising wedge forming.

good.

There goes your profits

 

I closed some position just to lock profit and reload and open new shorts.  

and I will continue to do so till we hit the bottom.

[ChartBuddy]

Coin
Explanation

[griffinriz]

it would be great to reach 300 this week.

[LFC_Bitcoin]

it would be great to reach 300 this week.

Would be great but I'm losing optimism atm.
Getting a bit despondent with BTC lately.

[Fatman3001]

it would be great to reach 300 this week.

Would be great but I'm losing optimism atm.
Getting a bit despondent with BTC lately.

You're probably tired. Find a way to recharge your batteries.

[Mervyn_Pumpkinhead]

Speculators don't want to pump BTC because of the known selling pressure that starts at around 400$, when all the miners of 2014 will finally start to see some ROI.
And that's only the selling pressure that is known. There are still loads of coins out there that have been stolen and that's fate is unknown. For instance, there is still absolutely no information about the 600k mtgox coins that went missing. No one can be sure if these coins are still out there or not, and if they are, then what is planned for these coins. Lack of public interest for this crucial piece of information only show how immature the bitcoin market really is.

Anyway, for smarter speculators with more money to play with, it would make no sense to try to push through all that selling pressure. It makes more sense to just wait it out till bitcoin falls to depths (single digits) that will clear all this selling pressure buffer, and then make your move. Of course, it would make even more sense to start promoting a new and better crypto, that's market is less tainted and that's technical properties are more advanced. But because bitcoin is driven more by religious aspects, not by practicality, then I'm not certain if common sense will prevail.

[ChuckBuck]

it would be great to reach 300 this week.

Would be great but I'm losing optimism atm.
Getting a bit despondent with BTC lately.

You're probably tired. Find a way to recharge your batteries.

It's called fatigue or exhaustion for both long and short positions.

Take a break, maybe a week or 2, wait for any developments, then come back once you're refreshed.

[SkyValeey]

Yes, sometimes you just need to close charts for a few days

[YourMother]

Speculators don't want to pump BTC because of the known selling pressure that starts at around 400$, when all the miners of 2014 will finally start to see some ROI.
And that's only the selling pressure that is known. There are still loads of coins out there that have been stolen and that's fate is unknown. For instance, there is still absolutely no information about the 600k mtgox coins that went missing. No one can be sure if these coins are still out there or not, and if they are, then what is planned for these coins. Lack of public interest for this crucial piece of information only show how immature the bitcoin market really is.

Anyway, for smarter speculators with more money to play with, it would make no sense to try to push through all that selling pressure. It makes more sense to just wait it out till bitcoin falls to depths (single digits) that will clear all this selling pressure buffer, and then make your move. But of course, it would make even more sense to start promoting a new and better crypto, that's market is less tainted and that's technical properties are more advanced. But because bitcoin is driven more by religious aspects, not by practicality, then I'm not certain if common sense will prevail.

[ChartBuddy]

Coin
Explanation

[SilenceOfTheLamb]

it would be great to reach 300 this week.

Just keep buying until the price hits $300--that always works.
If not enough $$ to buy through order books, convince family/trusting friends to buy BTC.
If family/friends no longer trust you, buy some CC on carder forum -> buy BTC.
If all else fails, become a camwhore.  MRKLYE, your fellow BTC financier, would have done just that, but gambled away the money on JustDice instead.  Shit happens.

Bitcoin--the groundbreaking revolutionary game-changer, our very own nuclear hovercraft to the crumbling horse-and-buggy banks of yesteryear, our shiny black swan technology on the very tippity-tipping point of disrupting their outmoded fiat right up the butt.
Bitcoin is Freedom!

Now, how many would you like?

http://s16.postimg.org/kzbhe4jv9/chinese_posters_1.gif

[Fatman3001]

it would be great to reach 300 this week.

Would be great but I'm losing optimism atm.
Getting a bit despondent with BTC lately.

You're probably tired. Find a way to recharge your batteries.

It's called fatigue or exhaustion for both long and short positions.

Take a break, maybe a week or 2, wait for any developments, then come back once you're refreshed.

+1

It's very real. If you ignore it you risk digging yourself deeper and develop a mental aversion, or worse. Go out and check out the latest trends in mini skirts with a good friend.

[SilenceOfTheLamb]

...
Getting a bit despondent with BTC lately.

You're probably tired...

It's called fatigue or exhaustion...
...

No, it's called a taste of sobriety.
Bitcoiners Pseudonymous--you don't need to hit rock-bottom.
http://uk.finaperf.com/images/logos/240x180/bp.jpeg

[SkyValeey]

Just keep buying until the price hits $300--that always works.
If not enough $$ to buy through order books, convince family/trusting friends to buy BTC.
If family/friends no longer trust you, buy some CC on carder forum -> buy BTC.

Sounds like PONZI SHIT.

[SilenceOfTheLamb]

Just keep buying until the price hits $300--that always works.
If not enough $$ to buy through order books, convince family/trusting friends to buy BTC.
If family/friends no longer trust you, buy some CC on carder forum -> buy BTC.

Sounds like PONZI SHIT.

False.  Allow me to quote Bitcoin Wiki:
"In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee."-- https://en.bitcoin.it/wiki/Myths#It.27s_a_giant_ponzi_scheme

Though Satoshi & second-tier investors have made money from lower-tier investors, no explicit promises of profits were made.*
*By Satoshi that is.  Plenty made by second-tier, a.k.a. "Early Adopters."

[tarmi]

Just keep buying until the price hits $300--that always works.
If not enough $$ to buy through order books, convince family/trusting friends to buy BTC.
If family/friends no longer trust you, buy some CC on carder forum -> buy BTC.

Sounds like PONZI SHIT.

False.  Allow me to quote Bitcoin Wiki:
"In a Ponzi Scheme, the founders persuade investors that they’ll profit. Bitcoin does not make such a guarantee."-- https://en.bitcoin.it/wiki/Myths#It.27s_a_giant_ponzi_scheme

lel

who wrote that? that kinda sounds worse than buying a lottery ticket.

cmon bulls! push it up a little bit!

[ChartBuddy]

Coin
Explanation