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

[jaredboice]

If you believe that the Bitcoin market tends to be fractal and you compare the previous bull/bear cycle to this one, it's apparent that prior to the nov 2013 run-up to $1,000+, there were several bear traps on the way up.  If this is a fractal, this particular correction looks visually similar to the correction around $150 or the one at $200 in November 2013.  If that were the case, buying in now (around $620-ish) likely wouldn't be a bad entry point as long as you can wait out the volatility for 2-3 months.  While it could go lower, I wouldn't expect it to stay there for long.  That's my best guess.  But I do believe that we are in a bull market now and that there is therefore more upside potential than downside risk at this point in the cycle.

[hatshepsut93]

$650 in next 24h

okay, the bottom will be $625

bouncing between 615 and 640 on next 24h

[conspirosphere.tk]

there is therefore more upside potential than downside risk at this point in the cycle.

of course. And lots of it.

[jofus87]

  FML I was this close to getting out at $780. But noooo, I had to be at work on Friday only to find out after I get home the price had plummeted below $700. This action is like a sick joke, taunting me. Oh well, I waited a few years, what's another few weeks (assuming the halvening affects the price positively)?

[DaRude]

FML I was this close to getting out at $780. But noooo, I had to be at work on Friday only to find out after I get home the price had plummeted below $700. This action is like a sick joke, taunting me. Oh well, I waited a few years, what's another few weeks (assuming the halvening affects the price positively)?

You're delusional if you believe of a rapid price change on the day of the halvening

[bitebits]

We almost got spoiled by the last three weekends in a row, which almost cause an expectation that something is going to happen either this weekend or next week?  Anyone?  I'm placing breaking into $800 as a bit greater odd than breaking below $680.... You see that I have been somewhat tempered by two years of bear dumps.

I am not trading, but would not be surprised if we get dumped back to the low 600's or even high 500's.
Just to create some healthy Bitcoin panic.

Whatever way we go: fasten your seat belt.

Mmm that escalated quickly, it starts getting predictable.

[JayJuanGee]

FML I was this close to getting out at $780. But noooo, I had to be at work on Friday only to find out after I get home the price had plummeted below $700. This action is like a sick joke, taunting me. Oh well, I waited a few years, what's another few weeks (assuming the halvening affects the price positively)?

It's difficult to know while we are in the moment....

we do not want to sell too many too soon, but then after the fact we realize that we could have increased our stash by 10% or even 25% in this particular crash scenario if we were able to time the tops and bottoms with either luck or good edumacated guessing. 

[btc_owner]

4000CNY ...?

[bitcrypto10101]

I like BTC .

I buy for 1100 sell for 200 and now I buy back for 750.

I like BTC.

I buy for 750 and now in 650.

[JayJuanGee]

We almost got spoiled by the last three weekends in a row, which almost cause an expectation that something is going to happen either this weekend or next week?  Anyone?  I'm placing breaking into $800 as a bit greater odd than breaking below $680.... You see that I have been somewhat tempered by two years of bear dumps.

I am not trading, but would not be surprised if we get dumped back to the low 600's or even high 500's.
Just to create some healthy Bitcoin panic.

Whatever way we go: fasten your seat belt.

Mmm that escalated quickly, it starts getting predictable.

I will concede that your call ended up playing out better than my call.

Also, you are correct that once the momentum changes, there can be a kind of cascading effect that kind of goes further and farther than initially expected to be likely.

So, yeah, after the unfolding of recent events, we gotta look at what happened and how it happened to the best of our assessment, and then make a new plan of action.

Between $770 and $615, my BTC holdings have gone from about 93% to nearly 96.6%...

Yeah, of course, I wished that I would have sold a little more in the mid-to-upper $770s, even between 1% and 5% more, could have made a considerable difference - but there are frequently a lot of "what ifs" and "I could haves" when looking at this kind of stuff.

By the way, I believe that I am quite a bit better off currently then a lot of other folks who were claiming to be 100% in throughout the mid to upper $700s ---- therefore, moderation in an extensively volatile market, such as bitcoin is to continue to attempt to avoid 100% extremes of holdings in either direction (fiat or bitcoin).

[savetherainforest]

Clif High says 14000$ this year based on his webbot  

He said 2000$ as basis and fluctuating on that...

*Edit: ... and after the New Year of 2016 in to 2017 till summer will try to go to 14k dollars!

Full video of what the web bot predictions say about bitcoin here:

https://youtu.be/LyvTTtdjsz0?t=5m37s

--------------------------------------------------------

But anyway ... it is 19:30+ in China ... people are coming back from work!!! They are starting to trade and pump again!

If this doesn't turn out the way he says he will lose almost all the credibility with his webbot because people are watching closely.

I wrote this a few pages ago ... but I'l repeat : "To be CEO or owner of an entity or corporation with Global implications in China you must be a full member of the communist party."

And another thing I wrote was : "China will never let the investments of their people to fail, if it is in their power to intervene! And a huge part of the BTCitcoins are produced in China, that means they can just materialize money on a computer screen out of nothing, poof, just write the numbers on the screen! And especially if it is not necessary for that money to even leave the China banks or even to be produced. Especially this makes their currency not devalue against the dollar, euro, british pound, IMF "pixie dust", or any other currency in the world. But they can inflate the BTCitcoin and create value in something The West is prising."

[JayJuanGee]

I like BTC .

I buy for 1100 sell for 200 and now I buy back for 750.

I like BTC.

I buy for 750 and now in 650.

More or less, you are supposed to be buying the BTC on the way down in price and sell portions of the BTC on the way up in price.. more or less to engage in this kind of buying / selling within reason, and don't go in and out in a hog crazy kind of emotional action and reaction. 

Accordingly, attempt to plan and to take reasonable measures and don't invest too much, like money that you need to live on.

I would suggest that if you went "all in" at $750, then you just need to wait it out, even if it takes a few years to get back above those levels; however, if you invested more than you can afford, then it is kind of more difficult to give you suggestions, and that is kind of on you to have not been budgeting your funds very carefully. 

Currently, these are good buying opportunities, in the current downward price movements, and not times to be selling .. just saying.

[jofus87]

FML I was this close to getting out at $780. But noooo, I had to be at work on Friday only to find out after I get home the price had plummeted below $700. This action is like a sick joke, taunting me. Oh well, I waited a few years, what's another few weeks (assuming the halvening affects the price positively)?

You're delusional if you believe of a rapid price change on the day of the halvening

Not at all, just having to change back from excited to patience-mode.

[MinermanNC]

I like BTC .

I buy for 1100 sell for 200 and now I buy back for 750.

I like BTC.

I buy for 750 and now in 650.

I'm sure you will get it all back, just sit tight. You bought in a the peak of this last run, but another should be coming soon  

I am a bit surprised to see btc fall as it has in a day,,, but the rise was rather sudden and fast. I'm chalking it off as a correction. Its now where I would have thought it to be this close to halving.... I still say 800-900 at halving time with a little luck perhaps.

[mrkavasaki]

4000 is the bottom

[aztecminer]

I like BTC .

I buy for 1100 sell for 200 and now I buy back for 750.

I like BTC.

I buy for 750 and now in 650.

I'm sure you will get it all back, just sit tight. You bought in a the peak of this last run, but another should be coming soon  

I am a bit surprised to see btc fall as it has in a day,,, but the rise was rather sudden and fast. I'm chalking it off as a correction. Its now where I would have thought it to be this close to halving.... I still say 800-900 at halving time with a little luck perhaps.

or perhaps the catalyst that signaled the trend reversal was BFX going offline . just speculating .

[MinermanNC]

I like BTC .

I buy for 1100 sell for 200 and now I buy back for 750.

I like BTC.

I buy for 750 and now in 650.

I'm sure you will get it all back, just sit tight. You bought in a the peak of this last run, but another should be coming soon  

I am a bit surprised to see btc fall as it has in a day,,, but the rise was rather sudden and fast. I'm chalking it off as a correction. Its now where I would have thought it to be this close to halving.... I still say 800-900 at halving time with a little luck perhaps.

or perhaps the catalyst that signaled the trend reversal was BFX going offline . just speculating .

I'm sure it has something to do with it. Folks are a little jumpy after "the other news" a few days ago with "another coin" 

So long as it was not a hack etc. I think the fear of (bfx) going offline/freeze will pass quickly.... I hope!

[dumbfbrankings]

https://bitcoincore.org/en/meetings/2016/06/16/

Segwit testing already done , but Devs are delaying releasing as RC1 for 1 week to allow some more testing on Compact Blocks that they want to release at the same time.

Yes, we are unexpectedly getting compact blocks soon with the 0.13.0 version!  

Bullish!

Could you perhaps tell your contacts to lighten up on the announcements?

We've all been a bit overwhelmed by all the Bullishness lately.

[jojo69]

I had forgotten just how entertaining this thread could be

[nioc]

FML I was this close to getting out at $780. But noooo, I had to be at work on Friday only to find out after I get home the price had plummeted below $700. This action is like a sick joke, taunting me. Oh well, I waited a few years, what's another few weeks (assuming the halvening affects the price positively)?

You're delusional if you believe of a rapid price change on the day of the halvening

Just like passing the event horizon of a black hole you will feel nothing yet what will happen afterwards is inevitable.