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

[inca]

It looks like really slow/boring downside movement, where we will test support around 200-220..if we break that support, damn, it will take long time before we will truly reverse the bear trend...my crystal ball told me that this morning

so i am placing buys on 20 BTC @ 180...do you think its too low / or still too high??

I´d say too high, entire movement since january seems now like H/S pattern, which would point to lower lows 90-130. However 180 is safe bet unless you go in leveraged, bitcoin should recover fairly quickly after crashing to bottom.

Many people predicting 80-120 prices...i somehow refuse to believe that after so great fundamentals and difficulty x times higher than 2013 sommer,  i would buy in the same range i was buying most of my coins...i will probably go like 80% of my money to 160-180 and 20% i will hide for the final crash to 100-120 but i really don't believe we will go that low...

Bears always planning for one final crash..because 'line on a chart points down'..

Yawn.

[Fatman3001]

It looks like really slow/boring downside movement, where we will test support around 200-220..if we break that support, damn, it will take long time before we will truly reverse the bear trend...my crystal ball told me that this morning

so i am placing buys on 20 BTC @ 180...do you think its too low / or still too high??

I´d say too high, entire movement since january seems now like H/S pattern, which would point to lower lows 90-130. However 180 is safe bet unless you go in leveraged, bitcoin should recover fairly quickly after crashing to bottom.

Many people predicting 80-120 prices...i somehow refuse to believe that after so great fundamentals and difficulty x times higher than 2013 summer,  i would buy in the same range i was buying most of my coins...i will probably go like 80% of my money to 160-180 and 20% i will hide for the final crash to 100-120 but i really don't believe we will go that low...

If we don't find some buying pressure at $200, a dip to $140-150 seems plausible.

[Feri22]

It looks like really slow/boring downside movement, where we will test support around 200-220..if we break that support, damn, it will take long time before we will truly reverse the bear trend...my crystal ball told me that this morning

so i am placing buys on 20 BTC @ 180...do you think its too low / or still too high??

I´d say too high, entire movement since january seems now like H/S pattern, which would point to lower lows 90-130. However 180 is safe bet unless you go in leveraged, bitcoin should recover fairly quickly after crashing to bottom.

Many people predicting 80-120 prices...i somehow refuse to believe that after so great fundamentals and difficulty x times higher than 2013 sommer,  i would buy in the same range i was buying most of my coins...i will probably go like 80% of my money to 160-180 and 20% i will hide for the final crash to 100-120 but i really don't believe we will go that low...

Bears always planning for one final crash..because 'line on a chart points down'..

Yawn.

true, but we, the bulls, fucked it up on the 300 resistance and the recovery just got much longer than it probably needed to be...

[Feri22]

It looks like really slow/boring downside movement, where we will test support around 200-220..if we break that support, damn, it will take long time before we will truly reverse the bear trend...my crystal ball told me that this morning

so i am placing buys on 20 BTC @ 180...do you think its too low / or still too high??

I´d say too high, entire movement since january seems now like H/S pattern, which would point to lower lows 90-130. However 180 is safe bet unless you go in leveraged, bitcoin should recover fairly quickly after crashing to bottom.

Many people predicting 80-120 prices...i somehow refuse to believe that after so great fundamentals and difficulty x times higher than 2013 summer,  i would buy in the same range i was buying most of my coins...i will probably go like 80% of my money to 160-180 and 20% i will hide for the final crash to 100-120 but i really don't believe we will go that low...

If we don't find some buying pressure at $200, a dip to $140-150 seems plausible.

Agreed

[Fatman3001]

It looks like really slow/boring downside movement, where we will test support around 200-220..if we break that support, damn, it will take long time before we will truly reverse the bear trend...my crystal ball told me that this morning

so i am placing buys on 20 BTC @ 180...do you think its too low / or still too high??

I´d say too high, entire movement since january seems now like H/S pattern, which would point to lower lows 90-130. However 180 is safe bet unless you go in leveraged, bitcoin should recover fairly quickly after crashing to bottom.

Many people predicting 80-120 prices...i somehow refuse to believe that after so great fundamentals and difficulty x times higher than 2013 sommer,  i would buy in the same range i was buying most of my coins...i will probably go like 80% of my money to 160-180 and 20% i will hide for the final crash to 100-120 but i really don't believe we will go that low...

Bears always planning for one final crash..because 'line on a chart points down'..

Yawn.

Bears have had it easy for the last 16 months. Let's hope hubris doesn't smack them over the head (well, we sort of do, don't we?). Saying that the price will drop because it has done so for one and a half year doesn't make you an oracle.

[Sitarow]

Newbies are now aware that like hardware scams permiated the btc community in 2012-2013. 2014 was the year of the altcoin scams.

[NUFCrichard]

It looks like really slow/boring downside movement, where we will test support around 200-220..if we break that support, damn, it will take long time before we will truly reverse the bear trend...my crystal ball told me that this morning

so i am placing buys on 20 BTC @ 180...do you think its too low / or still too high??

I´d say too high, entire movement since january seems now like H/S pattern, which would point to lower lows 90-130. However 180 is safe bet unless you go in leveraged, bitcoin should recover fairly quickly after crashing to bottom.

Many people predicting 80-120 prices...i somehow refuse to believe that after so great fundamentals and difficulty x times higher than 2013 summer,  i would buy in the same range i was buying most of my coins...i will probably go like 80% of my money to 160-180 and 20% i will hide for the final crash to 100-120 but i really don't believe we will go that low...

If we don't find some buying pressure at $200, a dip to $140-150 seems plausible.

As would a rise to $250 again.  It's a crapshoot at the moment, the amount of money moving into the Bitcoin environment is rising greatly, but apparently the amount of bitcoin being bought up is low, thus the price is falling.  I remain bullish and will buy more at sub$200 if that happens any time soon.

[Fatman3001]

It looks like really slow/boring downside movement, where we will test support around 200-220..if we break that support, damn, it will take long time before we will truly reverse the bear trend...my crystal ball told me that this morning

so i am placing buys on 20 BTC @ 180...do you think its too low / or still too high??

I´d say too high, entire movement since january seems now like H/S pattern, which would point to lower lows 90-130. However 180 is safe bet unless you go in leveraged, bitcoin should recover fairly quickly after crashing to bottom.

Many people predicting 80-120 prices...i somehow refuse to believe that after so great fundamentals and difficulty x times higher than 2013 summer,  i would buy in the same range i was buying most of my coins...i will probably go like 80% of my money to 160-180 and 20% i will hide for the final crash to 100-120 but i really don't believe we will go that low...

If we don't find some buying pressure at $200, a dip to $140-150 seems plausible.

As would a rise to $250 again.  It's a crapshoot at the moment, the amount of money moving into the Bitcoin environment is rising greatly, but apparently the amount of bitcoin being bought up is low, thus the price is falling.  I remain bullish and will buy more at sub$200 if that happens any time soon.

I don't need a rise to $250. I need a rise to $380 and beyond.

[ChartBuddy]

Coin
Explanation

[Shatoshi]

Gotta say I'm tempted to close this long.

[btccashacc]

It seems well see below $ 200.

[empowering]

"IT IS 3 MINUTES TO MIDNIGHT"

[Dilla]

Am I the only one that thinks we will stay sideways for a while?

[Pierre 2]

Am I the only one that thinks we will stay sideways for a while?

Nope , youre not. But Im not sure how much this "while" longs. 1 week or more.

[ChartBuddy]

Coin
Explanation

[damiano]

It looks like it might tip any moment

[JorgeStolfi]

i somehow refuse to believe that after so great fundamentals and difficulty x times higher than 2013 summer

"Fundamentals" of an ordinary stock are the profits and capital assets of the underlying company.  When you own a stock certificate, you literally own a slice of the company, so you own a slice of its capital assets and you are entitled to a slice of their profits.  The fundamentals define the long-term price of a stock, although there can be a significant speculatiive element added to it in shorter time scales.

Bitcoin has no "fundamentals". A bitcoin is like a share of a company with no product or service, no revenue, no capital assets.  If you own a bitcoin you don't own any assets, and you are not entitled to any dividdends.  The only thing you own is the certificate itself, whose only merit is that its current ownership is regstered in a supposedly ultra-safe registry that no government can tamper with.  The only thing that fixes it price is speculation: your only hope of getting a profit out of it is finding someone who is willing to pay for it more than you paid.

There has been perhaps a billion dollars invested into mining equipment, but bitcoin owners do not own a single screw of it.  The mining industry has abut 800 k$/day of revenue, and some miners still make substantial profit; but not a penny of that money will go to the bitcoin owners.  More than half a billion dollars has been invested in exchanges, payment processors, and other bitcoin-related companies; but, again, bitcoin owners do not own any piece of them.  On the contrary, all the revenue of miners and bitcoin-related companies will come from the pockets of those who buy bitcoins.

As for the difficulty: the market price determines the revenue of the miners, that determines the total hashpower, that determines the difficulty -- all indirectly, with substantial delays and distorted by accidents and errors of judgement.  There is no reverse control channel: the difficulty has no influence whatsoever on the price.

[Xiaoxiao]

It is definitely going to stay in the $100 range pretty soon.  Monday morning and price hasn't changed a single bit.  No buying pressure at ALL.

[Fatman3001]

It is definitely going to stay in the $100 range pretty soon.  Monday morning and price hasn't changed a single bit.  No buying pressure at ALL.

What surprises me is that there is no selling pressure either at this price range.

Edit: The fact that this pig hasn't been slaughtered yet leads me to think that the big boys might know something we don't.

[Xiaoxiao]

Usually prices go up a little bit on Mondays and Tuesdays.  Usually people don't sell off mid day.  They wait until afternoon or overnight.