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

[Fatman3001]

I just read the Coindesk article about 21. Not convinced. I don't think the 21 guy knows what he's talking about. It might fall flat on its face.

Specifically what is it that makes you think he does not know what he is talking about? (just out of interest)

(also.... what do you see as Bitcoins poor reputation)

hem, Coindesk?

Very possible. I hope so. Sad for Coindesk though.

[coinableS]

So are we going to see any bull runs this week? Or is this the week we re-test $160?

[empowering]

I just read the Coindesk article about 21. Not convinced. I don't think the 21 guy knows what he's talking about. It might fall flat on its face.

Specifically what is it that makes you think he does not know what he is talking about? (just out of interest)

(also.... what do you see as Bitcoins poor reputation)

1. He seems to confuse miners with nodes and compares sha256 asics to conventional servers. He also claims that the 10min block time can easily be changed seemingly without understanding the implications of that. Then he alludes to a closed loop system with vendors without any specifics, and if the previous points are not simply due to intentional over simplification or provocation I fear that they might hit a snag that they can't get past.
 
2. Exchange scandals, illicit activities, scams, theft, worst investment of the year awards.


Edit: 2. And right wing extremist libertarian loons.

Ok cool thanks I have not read the article yet, I will give it a read later... you would really strongly hope that they would get people in management, that really know their beans, what with all of that investment..  (any idea if there is any video available of his talk? sorry being lazy having hectic day/week, got a plane to catch)

As for the bad reputation...  all of those things you list, are not to do with BTC per se, but more to do with some of the people involved in some of the ecosystem, and are of course things that happen with every currency/commodity/anything of value.

Apart from "worst investment of the year" which  does not really mean much tbh.

[ChartBuddy]

Coin
Explanation

[Fatman3001]

I just read the Coindesk article about 21. Not convinced. I don't think the 21 guy knows what he's talking about. It might fall flat on its face.

Specifically what is it that makes you think he does not know what he is talking about? (just out of interest)

(also.... what do you see as Bitcoins poor reputation)

1. He seems to confuse miners with nodes and compares sha256 asics to conventional servers. He also claims that the 10min block time can easily be changed seemingly without understanding the implications of that. Then he alludes to a closed loop system with vendors without any specifics, and if the previous points are not simply due to intentional over simplification or provocation I fear that they might hit a snag that they can't get past.
 
2. Exchange scandals, illicit activities, scams, theft, worst investment of the year awards.


Edit: 2. And right wing extremist libertarian loons.

Ok cool thanks I have not read the article yet, I will give it a read later... you would really strongly hope that they would get people in management, that really know their beans, what with all of that investment..  (any idea if there is any video available of his talk? sorry being lazy having hectic day/week, got a plane to catch)

As for the bad reputation...  all of those things you list, are not to do with BTC per se, but more to do with some of the people involved in some of the ecosystem, and are of course things that happen with every currency/commodity/anything of value.

Apart from "worst investment of the year" which  does not really mean much tbh.

I'm on a phone on the move as well.

Regarding the bad reputation bit. You're preaching to the choir, but that doesn't mean BTC doesn't have an image problem. And if 21 blow the largest investment run in this sector on a mirage, that won't help.

[ChartBuddy]

Coin
Explanation

[micalith]

Do someone know where i can play on x20 leverage?

chessnut said he got x20 at OKcoin

[D05GTO]

If you are really really sure, I believe 796 has 50X leverage.

[damiano]

I pretty much share the same short-term view.

Here's DanV's newest projection.

<snip>

  So effectively the guy that predicted Bitcoin's spiralling down to, what, $50 has now predicted a turnaround and bounce-off of about current levels? Interesting turn of events.

No. If you understand what he has written on TV, and the chart labelling, he is opening up to the possibility that we are still in a corrective move from the $166 low. See his green line to $360, labelled [C] - that would mark the end of the correction (from $166) and resumption of the downtrend to new lows at $xx(x?). IDK if this significantly alters his downside target, but it would certainly drag this bear market out several months longer than his previous count, which had us starting the move to new lows from $300 a month ago. Pick your poison ...

EW counts evolve with price action. To him this current action does not fit well with his previously published chart, so he is publishing a new one, as any sensible analyst would do.
Remember - the best EW analysts have multiple counts running in parallel at any one time. It is only by excluding those that are invalidated and focussing on those with the higher probabilities (according to EW rules) that they stay on track. But they will keep an eye on alt-counts in order to switch if the primary count is invalidated/looks less probable.


Here is the link to the chart with his commentary:

https://www.tradingview.com/chart/BTCUSD/EUytkasj-BTCUSD-FURTHER-SHORT-TERM-WEAKNESS-IN-STORE-WITH-OF-TARGET-210/

I doubt that the breaking down would stop at 210$. Once 4h and 6h MACD divergence would turn negative, IMO large dumps would break the key 210$ support level.
So if the market will go up to 300+, it has to start pumping soon, without any major drops before.

I think it's to late for a pump to stop the divergence. 

[ChartBuddy]

Coin
Explanation

[SkyValeey]

Nice trap today.

[JimboToronto]

Good morning Bitcoinland.

No Wall Street Monday yet I see, and no Dump of Doom.

Just more sideways. Ho hum.

At least the dancing walls supply a little entertainment.

[Torque]

You know what's more excruciating than a high volume dump down to $180?  A slow, 12 month grind down to $180.  From the average Joe, I'm sensing a huge amount of apathy for bitcoin right now, which sucks.

Why no apathy in the years before Jan 2013?  Are we still way above what can be supported?

[ChartBuddy]

Coin
Explanation

[Wolf Rainer]

Good morning Bitcoinland.

No Wall Street Monday yet I see, and no Dump of Doom.

Just more sideways. Ho hum.

At least the dancing walls supply a little entertainment.

What wall street money are you talking about?

[JimboToronto]

Good morning Bitcoinland.

No Wall Street Monday yet I see, and no Dump of Doom.

Just more sideways. Ho hum.

At least the dancing walls supply a little entertainment.

What wall street money are you talking about?

Not "money", Monday.

Wall Street Monday is a mythical bullish event that Norway and a few others were anticipating for today.

It obviously didn't happen.

[Fatman3001]

You know what's more excruciating than a high volume dump down to $180?  A slow, 12 month grind down to $180.  From the average Joe, I'm sensing a huge amount of apathy for bitcoin right now, which sucks.

Why no apathy in the years before Jan 2013?  Are we still way above what can be supported?

I fear that if Bitcoin was what it is supposed to be you wouldn't have to ask the question. We would just see stable high volume on all exchanges. Instead we see the market and volume move according to the sentiments of speculators. If someone really needed BTC they would just buy it and use it without hanging out to see what the price would do. That doesn't mean that it can't sustain a highish price as a speculators plaything, but I would be more comfortable if speculators accounted for 10% of the volume, not 90-98%.

Edit: typo: can should be can't

[kaeste]

http:// lawandbitcoin. com/en/bitcoin-is-vat-exempt-in-spain/

moooooooooooooooooooooooooooooooooon

[ChartBuddy]

Coin
Explanation

[Norway]

Good morning Bitcoinland.

No Wall Street Monday yet I see, and no Dump of Doom.

Just more sideways. Ho hum.

At least the dancing walls supply a little entertainment.

What wall street money are you talking about?

Not "money", Monday.

Wall Street Monday is a mythical bullish event that Norway and a few others were anticipating for today.

It obviously didn't happen.

I admit it, I was wrong and will eat my hat!