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

[blackwhale90]

Bulls are winning:

Question:   price in 2 weeks
>300   - 101 (45.7%)
280   - 25 (11.3%)
260   - 23 (10.4%)
240   - 18 (8.1%)
220   - 23 (10.4%)
<200   - 31 (14%)

lol seems like we haven't yet passed despair stage if there are so many bulls 

[Knecke]

So I was checking out Bitstamp, and I see this automated buying and selling of 0.03 Btc almost continuously.  What is the point of that?   Won't the trading charges offset any gains?    Or, is it some automated system managed by bitstamp to generate volume?   Any ideas?

You might be right about that, Bitstamp has dropped below the top five exchanges for volume a few times. They might have decided to start buying and selling to themselves to ensure they stay in the top five. Bitstamp wouldn't pay any trading charges so it wouldn't cost them anything.

its not because the volume, bitstamp itself has an arbitrage opportunity because of their fees they charge the seller and the buyer.
because of their fees they pay 0.25 % less when they buy and get 0.25% more for each bitcoin they sell.

[Fatman3001]

give up. sell everything.

I don't think it's good idea. 240-245$ looks like a good buy area with short term target 1600-1650cny (of higher if we'll break 1650cny with good volume- then we can reach 1700-1800cny).

Another scenario is fall from now with big volume to 22X-23X $ area but I hope we'll see 260$+ first.

Interesting updates by DanV ( https://www.tradingview.com/chart/BTCUSD/6S9Si6F7-BTCUSD-STILL-REMAINS-IN-OVERALL-BEARISH-CYCLE-UPDATE/ )

DanV just won't let those low hundreds go. Maybe I should send him a cowboy-hug gif.

[Suntouri]

Bulls are winning:

Question:   price in 2 weeks
>300   - 101 (45.7%)
280   - 25 (11.3%)
260   - 23 (10.4%)
240   - 18 (8.1%)
220   - 23 (10.4%)
<200   - 31 (14%)

lol seems like we haven't yet passed despair stage if there are so many bulls 

Is it your first message??
Welcome to cryptoworld 

[shmadz]

Sideways all summer, see you in September.

What makes you think that?

Boredom.

[ChartBuddy]

Coin
Explanation

[shmadz]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

January was the time to buy, sorry you missed it. $1500 could have got you nearly ten bitcoin! Even in March you would have gotten 6 or 7...

 If you had "invested" and bought and held.at that time, you would still have those 6-7 bitcoins. If instead you've been gambling, and you now have only $1000 which can only buy 4 bitcoin today, well... take it as a lesson learned and try to make better decisions in the future.

[hmmkay]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

January was the time to buy, sorry you missed it. $1500 could have got you nearly ten bitcoin! Even in March you would have gotten 6 or 7...

 If you had "invested" and bought and held.at that time, you would still have those 6-7 bitcoins. If instead you've been gambling, and you now have only $1000 which can only buy 4 bitcoin today, well... take it as a lesson learned and try to make better decisions in the future.

Leave it to Captain Hindsight.

[HeXaN]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

Use a cold wallet and forget your BTC, in a few years you will read that 1btc=20k$ and you could sell it

[shmadz]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

January was the time to buy, sorry you missed it. $1500 could have got you nearly ten bitcoin! Even in March you would have gotten 6 or 7...

 If you had "invested" and bought and held.at that time, you would still have those 6-7 bitcoins. If instead you've been gambling, and you now have only $1000 which can only buy 4 bitcoin today, well... take it as a lesson learned and try to make better decisions in the future.

Leave it to Captain Hindsight.

Hey now, cyclobro was the one looking back in hindsight, bemoaning his misfortune. I just clarified the mistake he made so that he could hopefully recognize and avoid making the same mistake in the future.

By the way, "captain hindsight" over here was giving the same advice back in January, if you recall...

... Today we are seeing an text-book bear flag (sym triangle with slowing volume) indicating  lower levels in an Wave 4 Elliot Cycle. Sure it could rebounce, but that chance would be 40/60, so my bets are on bear until I see a rounded bottom or similar reversal indication.

Based on your triangles closing, I would assume another day (or so) at current levels, followed by large dumps to 170$+ levels. Am I terribly wrong / bear-ish ?

What I see there, is that the volume increases as the price drops.

Could be an indication that a bottom is being discovered.

Also, volume dropping on price rise leads me to think that many are relatively happy with their current holdings and only looking to accumulate on the dips.

Until there is an influx of new participants that do not already have positions in this market, I do not think price will rise dramatically. If this influx of new blood does indeed happen, I would expect that the long term holders that have been suffering this market will not be willing to give up their coins cheaply.

Personally I think we could see sideways/downward movement for many months to come.

It would be the preferable situation for anyone looking to accumulate more coins.

"As low as possible for as long as possible"

Those who ignore the past are doomed to repeat it.

[ChartBuddy]

Coin
Explanation

[Coinshot]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

Use a cold wallet and forget your BTC, in a few years you will read that 1btc=20k$ and you could sell it

Or your coins might end up in the wrong chain of a Bitcoin's hard fork and worth next to 0 in the future.

Put in cold storage is OK, but forget and take for granted they'll be worth a fortune in the future in my opinion is a mistake

[hmmkay]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

Use a cold wallet and forget your BTC, in a few years you will read that 1btc=20k$ and you could sell it

Or your coins might end up in the wrong chain of a Bitcoin's hard fork and worth next to 0 in the future.

Put in cold storage is OK, but forget and take for granted they'll be worth a fortune in the future in my opinion is a mistake

Correct me if I'm wrong. But in case of a hard fork, you're coins exist on BOTH chains.

[ssmc2]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

Use a cold wallet and forget your BTC, in a few years you will read that 1btc=20k$ and you could sell it

Or your coins might end up in the wrong chain of a Bitcoin's hard fork and worth next to 0 in the future.

Put in cold storage is OK, but forget and take for granted they'll be worth a fortune in the future in my opinion is a mistake

Correct me if I'm wrong. But in case of a hard fork, you're coins exist on BOTH chains.

You're right. He's a troll.

[Lauda]

Why should I believe that bro ? Although I want that for sure.

I might ask you a similar question. Why do you believe that the price won't rise?
I've seen and heard different opinions on my situations especially Grexit. Some are saying that it will have a minor impact on Bitcoin or none, while others are saying the exact opposite. Wouldn't their best bet be Bitcoin and/or gold in case that Grexit actually happens?

[billyjoeallen]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

Use a cold wallet and forget your BTC, in a few years you will read that 1btc=20k$ and you could sell it

Or your coins might end up in the wrong chain of a Bitcoin's hard fork and worth next to 0 in the future.

Put in cold storage is OK, but forget and take for granted they'll be worth a fortune in the future in my opinion is a mistake

Do you not know how a hard fork works? As long as the coins were acquired in a block before the fork, they are safe. Then you just wait to see which fork become the main chain and you're good to go. A forked chain is inherently unstable and one of the forks quickly dies, leaving one chain. It's an inconvenience more than a problem. Worst case scenario: in the extremely unlikely case that neither fork dies and the value starts to plummet, (double)spend the coins in both forks! 

[ChartBuddy]

Coin
Explanation

[coinableS]

Well I invested 1500$ in Bitcoin since last March or so. Now i'm nearing 1000$. I've not made a penny.
I think i'm ready to quit trading. I'll never get that money back. I dunno how one could loose so much so fast, even if one is totally inexperienced, it seems one would make money at least 50% of the time. But i've made money something like 2% of the time. I just don't have the patience for this.

Use a cold wallet and forget your BTC, in a few years you will read that 1btc=20k$ and you could sell it

Or your coins might end up in the wrong chain of a Bitcoin's hard fork and worth next to 0 in the future.

Put in cold storage is OK, but forget and take for granted they'll be worth a fortune in the future in my opinion is a mistake

That's not true. Any coins placed into an address today will be present no matter which fork ends up being the main chain. The fork(s) will use the existing blockchain to know who owns which coins. For someones cold storage coins to "disappear" from a fork the fork would have to delete the existing blockchain and start all over with a new one, which no one would agree to.

[Fakhoury]

Why should I believe that bro ? Although I want that for sure.

I might ask you a similar question. Why do you believe that the price won't rise?
I've seen and heard different opinions on my situations especially Grexit. Some are saying that it will have a minor impact on Bitcoin or none, while others are saying the exact opposite. Wouldn't their best bet be Bitcoin and/or gold in case that Grexit actually happens?

I'm pretty sure the price will rise, and I'm not looking for 6 months, 1 year, or 5 years, my target is a decade from now.

But I always like to add reasons for my arsenal.

Bitcoin can't be considered yet to be a safe heaven, even bitcoin enthusiast can't consider it a safe heaven.

Plus, Greek people are not advanced in the modern IT to know about Bitcoin yet.

[Erdogan]

Why should I believe that bro ? Although I want that for sure.

I might ask you a similar question. Why do you believe that the price won't rise?
I've seen and heard different opinions on my situations especially Grexit. Some are saying that it will have a minor impact on Bitcoin or none, while others are saying the exact opposite. Wouldn't their best bet be Bitcoin and/or gold in case that Grexit actually happens?

The euro itself is not at risk for now. That is an argument against movement i bitcoin. A greek should take his savings out of the bank, but euro notes or deposit in a foreign bank should be relatively ok.