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

[savetherainforest]

boo memes...where's all your optimism gone people. this goxxing didn't wreck bitcoin half as bad as the first one.

I'm just waiting for it to go to the moon after this last dip... 

But throwing more gasoline on the fire seems a good thing, just in case you want to see what happens next and eventually rat out the traitors. 

[JayJuanGee]

The price is falling again. Any reason for this?

We had been in a downtrend since the high of $779.
And with the Finex "hack" things got even worse.
The last few days we had tested the support line of the bearish triangle we were in 4 times.
And now the 5th attempt, after a pullback, had been successful with a bearish breakthrough.
The market is bearish and traders are acting and reacting accordingly to make profits or minimize losses.That's it.

I don't really disagree with your depiction of facts, but your characterization of the situation seems overly bearish.

Yeah, sure bitcoin experienced a decent run up to $779, and yes there has been quite a bit of correction from there with a couple of bitfinex shut downs that assisted to create larger corrections...

But really we gotta zoom out a bit more in order to characterize this current price situation.   Bears and banker shills would have preferred prices to have stayed below $500, and since the end of May, they have been attempting to push prices below $500 - and maybe they will be successful, but until they are successful, I would not call this any kind of reversal of the overall upwards price trend and overall upwards price pressures.  If we go into the lower $500 and if we stay below $500 for a while, then sure that could be a kind of flat period, but we need to go below $450 and stay there for a considerable time before I would concede that BTC has reversed either from an overall bull trend or has gone flat.   

So, instead of selling, as you seem to be suggesting, probably a better practice would be to HODL and to buy more on dips.  maybe sell a little bit if you are uncomfortable (and as insurance in case you do not have any fiat for buying, just in case), but it seems that it would not be safe to sell any large quantities of BTC at these prices.

[K~Ehleyr]

Sorry, what's HODL??  I'm guessing Hold On/Out... something 

[European Central Bank]

Sorry, what's HODL??  I'm guessing Hold On/Out... something 

Here you go with the origins. One drunken misspelling can give birth to an eternal legend.

https://bitcointalk.org/index.php?topic=375643.0

[XCASH]

Sorry, what's HODL??  I'm guessing Hold On/Out... something  

It's HOLD, but it was probably misspelled HODL by a drunk trader complaining his trades always lost him money. He resolved to give up trading and HOLD, but misspelled it HODL. That was the explanation I read for it, but I never found a link to trader's original post.

[K~Ehleyr]

Haha!!  LOL that's much better than an acronym    Thanks guys for explaining 

[JayJuanGee]

LOL I'm gonna laugh so hard when the price gradually goes down after halving.

People think it's just gonna shoot up on halving day lmao

lol!

is there some kind of point in quoting yourself?  people think all kinds of things?  so fucking what?

[XCASH]

LOL I'm gonna laugh so hard when the price gradually goes down after halving.

People think it's just gonna shoot up on halving day lmao

lol!

is there some kind of point in quoting yourself?  people think all kinds of things?  so fucking what?

I would be impressed if he committed himself to a price for it to go down to, and correctly guessed it. Saying it will gradually go down after halving is too vague a statement. He can claim he was right at the first minor correction as he didn't commit himself to predicting how long he thinks it will go down for, and how low.

[JayJuanGee]

Now the price is lower than I bought for last week and I can't buy any more until Tuesday.  I'm now watching helpless either way....  maybe I'll be able to snap up some bargains by Tuesday 

bitcoin is on its way down! bears are having their way while no longs on BFX to prop up the price.. downtrend will pick up momentum as everyone realizes that BFX hack is not over and is mtgox x 2! .... get ready for $180 bitcoin!

you short? or fud-ing?

lol.. i think we won't see uptrend until regulated us exchange has margin trading . BFX has totally destroyed confidence in un-regulated exchanges.. how make a profit when your going to get haircut ?? pointless to trade on exchanges like that.. better to keep your coins in cold storage . BFX is a source of much drama and problems for crypto technology . they are going down as an example .

LOOOOOOOOKKKK         Gumpy Tec is back and seems to have a new FUCD spreading talking point.... used to be all about big blocks, and now, since Bitfinex seems to be his new (and supposedly better) nonsense talking point that he would like to repeat ad nauseam.. just like he repeated ad nauseum that Bitcoin would never go above $500 - until it did and then he had to change his story to some new nonsense..   

Oh.. it is so wonderful to see your meaningful contributions, here, Gumpster...     

[JayJuanGee]

LOL I'm gonna laugh so hard when the price gradually goes down after halving.

People think it's just gonna shoot up on halving day lmao

lol!

is there some kind of point in quoting yourself?  people think all kinds of things?  so fucking what?

I would be impressed if he committed himself to a price for it to go down to, and correctly guessed it. Saying it will gradually go down after halving is too vague a statement. He can claim he was right at the first minor correction as he didn't commit himself to predicting how long he thinks it will go down for, and how low.

There are very few of these bear banker shill trolls that actually will provide either specifics or some kind of logic regarding how they arrived at such conclusions within any kind of somewhat meaningful context.

Personally, I am not hoping to be "impressed", but it would just be nice if there were at least some attempts to either back up what you way or at least be more specific... I guess being more specific does lead to the next questions concerning how you got there, and then whether the prediction turns out to be subsequently correct.

[kobilica]

Now guys, I will pump some sense into you.

Price will keep falling maybe for day or so.

But remember! Bitcoin price now is CHEAP. And banks open tomorrow.

What this means? People want bitcoins, and cheaper bitcoins are even better. Tomorrow people will go to banks and send money to bitcoin exchanges.


No wonder price felt so much over the weekend, because banks don't work over weekend.
 

[savetherainforest]

Sorry, what's HODL??  I'm guessing Hold On/Out... something  

Here you go with the origins. One drunken misspelling can give birth to an eternal legend.

https://bitcointalk.org/index.php?topic=375643.0

... there was an interesting comment I found there...  

you do realize the dollar is going to ZERO right?

That means my bitcoins are worth infinite!

And an interesting pic as well...  




But too bad its going up soon...

[JayJuanGee]

Now guys, I will pump some sense into you.

Price will keep falling maybe for day or so.

But remember! Bitcoin price now is CHEAP. And banks open tomorrow.

What this means? People want bitcoins, and cheaper bitcoins are even better. Tomorrow people will go to banks and send money to bitcoin exchanges.


No wonder price felt so much over the weekend, because banks don't work over weekend.
 

I appreciate that you are willing to be somewhat specific and unequivocal in your price direction prediction, but really, what do you know about price direction?  The price direction can reverse at any time.  It is not as if we are in some kind of solid momentum in either direction, and the trade volume remains fairly mediocre, which also signifies that it can be pumped in either direction at any time. 

Surely, there can be some truth that if price is bounding a bit within a channel, and if price is on the downside of the channel, then there could be additional incentive at the lower border of the channel to attempt to push price further downwards.. so maybe at best you are describing a downward price direction situation that has a 60% chance of occurring - and it is no way near certain, as you supposed friendly "sense pumping" seems to suggest.

[kobilica]

I can know much as you do, with my eyes looking at graph and thinking logically. (and reading facts on internet)

Right now you see shitload of FUD everywhere, fake news about bitcoin "dying slow death", new fake profiles, and bitfinex trash situation. Don't you just sense fear and uncertainty?


More facts:
- Trading bots love low price, they will buy fuck out of it once the long trends reverses

- First halving price&after

You see, bitcoin never touched that price again.

And right now, bitcoin price is lower than it was pre/post 2nd halving. And this is just because of bitfinex situation.

- Bitcoin is still developing tech.

It's good time to buy if you ask me. If you are not sure, wait 3-4 days.

[Meuh6879]

https://bitcointalk.org/index.php?topic=1406951.msg14273356#msg14273356

[JayJuanGee]

I can know much as you do, with my eyes looking at graph and thinking logically. (and reading facts on internet)

Right now you see shitload of FUD everywhere, fake news about bitcoin "dying slow death", new fake profiles, and bitfinex trash situation. Don't you just sense fear and uncertainty?


More facts:
- Trading bots love low price, they will buy fuck out of it once the long trends reverses

- First halving price&after

You see, bitcoin never touched that price again.

And right now, bitcoin price is lower than it was pre/post 2nd halving. And this is just because of bitfinex situation.

- Bitcoin is still developing tech.

It's good time to buy if you ask me. If you are not sure, wait 3-4 days.

Even though, overall, we seem to agree about a lot of things, you still seem to be speaking in riddles.

Sure it is true that there is a lot of FUD spreading all over the interwebs, and maybe the fact that you are asserting that to be a factor, you are giving a certain amount of weight to the current status of that phenomenon.  I will concede that what people read, think and say contributes to whether they buy, HODL or sell, but still the underlying facts also remain important, including the fact that bitcoin prices recently went above $500, contrary to the desires of bearwhales and banker shills - and surely, they want to attempt to get the price back down, to the extent that they are able to accomplish such objectives.

I am not attempting to predict the price in either direction, except perhaps to suggest that there are pressures in both directions and to assert that ongoing mediocre volume can allow for quick and unexpected manipulation in either direction.. so in that sense, I fail to comprehend exactly how you could have strong feelings that price is going to be going down before we go up? 

I mean, you did not even seem to qualify your prediction very much, which probably is what caused me to respond to you in order to suggest that the language of your post seems much stronger than anyone's ability to predict - except perhaps some whale who has insider connections regarding either a pump or dump that is going to take place in the near future.

.

[chesthing]

Price tumbling what a surprise - oh wait, I did call this.   Not sure where I will buy back in, most likely at $499.

[Dafar]

So zooming out to 1d on the chart, from 5/24, bitcoin is just looking like your typical PnD bubble that we've seen so many times before.  A blow off top, followed by long legs down.  

Looks like it could eventually deflate all the way back to ~450.  

So Dafar, still mocking me thus far?

About deflating all the way back to ~$450? Yes

Of course you used the word "could", and in that case I'd agree with you since anything could happen... but I'm still bullish for the rest of this year and next year

[kobilica]

No, I am not a whale. And I do not have some insider info. It just seems right now community is lacking optimism because of bitfinex hack and horrible price crash. And it is true that small volume gives ability to manipulate price. But this manipulation is harder everyday.

What I actually feel is fear. But bear with me. Times when I felt fear just the opposite happened (price jumped up) and times when I felt strong euphoria - price crashed down. But traders ignore feelings, right?

I'd say wait for 3-4 days and we will see where we land. Right now it's fear clusterfuck.

[TReano]

I can know much as you do, with my eyes looking at graph and thinking logically. (and reading facts on internet)

Right now you see shitload of FUD everywhere, fake news about bitcoin "dying slow death", new fake profiles, and bitfinex trash situation. Don't you just sense fear and uncertainty?


More facts:
- Trading bots love low price, they will buy fuck out of it once the long trends reverses

- First halving price&after

You see, bitcoin never touched that price again.

And right now, bitcoin price is lower than it was pre/post 2nd halving. And this is just because of bitfinex situation.

- Bitcoin is still developing tech.

It's good time to buy if you ask me. If you are not sure, wait 3-4 days.

you clearly have no idea about trading at all.

I mean there is not even a slight correlation with the 2012 halving and the price spike MONTHS after. All you do is interprete something into a price chart you simply wish is true.
Fact is there is no real influence to the price from the halving. No this time and not really last time. Yes it created some volatility.


Also: "Past performance is not an indicator of future results"