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

[Fakhoury]

The market seems to be digging itself out of the hole now though.

Could you kindly elaborate more ?

And tell me your outlook please for the coming weekend, is really the rally QUENCHED or there is still a chance ?

Edit : Is the rally continuing ?

[JayJuanGee]

I am just suggesting that any BTC price analysis and/or attempts at prediction should go much beyond becoming too much focused on the chinese exchange activities or attempting to measure the direction of the BTC wind by the tea leaves of chinese BTC exchanges.

Indeed.

It's just that if you DO happen to be watching charts instead of studying fundamentals and reading the news, it's quite easy to see where the action is and where it isn't since they're all lined up there in front of you with no more than a button click between them  

If you are attempting to suggest that you personally are watching the multiple exchange charts more than some other people (whether it is me or someone else) and coming to more "accurate" conclusion(s) based on such watchings, then I think that you are being a bit selective with what evidence you believe is actually supporting your supposedly more informed conclusions.

I agree with you that sometimes an activity may start in the chinese exchange and western exchanges may follow, but that does not mean that the chinese are "leading."  We need better evidence than that, no?

I think that coming to fair analysis and conclusions is a combination of watching the order of where stuff happens first and also considering a variety of other factors and price influencing dynamics.  I am not saying that I know what all of those factors are, but certainly, it is not merely identifying that some manipulators happened to begin their pump or dump on some high fake volume, no fee chinese exchange.  There's more to price prediction and causation/correlation analysis than that, no?  or are you asserting that  we just need to look at which exchange(s) begin the pump/dump and then conclude that they are the leaders?  Maybe I would laugh if I wasn't so shocked...     hahahahahaha   

[JayJuanGee]

Kindly tell me your very short term outlook, Toknormal as I was extremely happy with the breakout.

I had a theory about those dumps a while back. I referred to them as the "borgan quench" 

Just an idle fantasy about armies of fed officials or PBOC staffers equipped with huge reserves of BTC who's sole purpose was to quench the market and blunt bullish sentiment at strategic moments in order to engender a chronic feeling of hopelessness in genuine traders.

The market seems to be digging itself out of the hole now though.

Actually, whether you call it a "borgan quench" or whatever, there is a certain amount of truth that bear whales want to strategically dump in order to attempt to keep down rallys, and these may not even be short-term profitable dumps.

Who knows about whether we really need to get at explanations of the reasons for such dumps and/or price suppression attempts - unless they are engaging in fractional reserves with bitcoins... I think so long as they are officially using bitcoins, then sooner or later they run out of bitcoins to dump no?  and people keep buying and the dumps are not effective, right?  We all know that there are some exchange tools that are in effect that actually allow for trading of coins that you do not have, but it still seems as if even that kind of practice becomes kind of expensive after a while and no longer effective, or no?

[toknormal]

Who knows about whether we really need to get at explanations of the reasons for such dumps

Just for clarifiaction, it was a joke 

[Wolf Rainer]

I think we will test 700 next month.

[TeeBone]

I think we will test 700 next month this week.

[toknormal]

Buoyancy is recovering. Already back at 4540. (Quoting the more authoritative exchanges  )

[JayJuanGee]

you seem to be talking too much in absolutes...which really can lead to conspiratorial (and simplistic) thinking

Hey, this is bitcointalk. Didn't you know that "conspiratorial and simplistic thinking" were de-rigueur ? 

Looks like you added this response after I had already begun to type my response to the other part of your response.

O.k.  that is a fair enough criticism of my sometimes (maybe even frequently) arguably dogmatic expectations.

We used to have a lot of folks engaging in numerology and all kinds of nonsense, and surely some of that can be colorful and even realistic of how people view how or whether they are going to invest, including throwing in a bit of astrology.   

[JayJuanGee]

The market seems to be digging itself out of the hole now though.

Could you kindly elaborate more ?

And tell me your outlook please for the coming weekend, is really the rally QUENCHED or there is still a chance ?

Edit : Is the rally continuing ?

I understand, Fakhoury, that you are  not asking me, but I CANT RESIST....

You know, having a purpose such as one to "quench rallies" and actually achieving such purpose, can be two separate things. 

And, surely the evidence of decent upwards price pressures is continuing to show its cute lillie noggen...

In other words, we seems to have gots ourselves decent upwards price momentum that is not going to easily by quenched...

Surely, we are still operating on very low trade volume (and who gives a shit what you see in china and some of those other fake, no fee, bot exchanges), the fact of the matter is that BTC trade volume seems to be continuing as relatively low.... and so, when we have low trade volume, we can have a reversal of the direction at any time, even though it is kind of appearing that bears are losing a bit of control over the continuing and ongoing upward trend... .. they may have to wait until into the $700s or so before they are able to adequately and sufficiently reverse the current momentum and the upward price pressures that seems to be under this thing.. and also it is possible that they are not going to be able to do it, even into the $800s, crossing my fingers.. and if we get into the $800s quickly, then surely they are going to have some loss of control issues.

[Fakhoury]

The market seems to be digging itself out of the hole now though.

Could you kindly elaborate more ?

And tell me your outlook please for the coming weekend, is really the rally QUENCHED or there is still a chance ?

Edit : Is the rally continuing ?

I understand, Fakhoury, that you are  not asking me, but I CANT RESIST....

You know, having a purpose such as one to "quench rallies" and actually achieving such purpose, can be two separate things. 

And, surely the evidence of decent upwards price pressures is continuing to show its cute lillie noggen...

In other words, we seems to have gots ourselves decent upwards price momentum that is not going to easily by quenched...

Surely, we are still operating on very low trade volume (and who gives a shit what you see in china and some of those other fake, no fee, bot exchanges), the fact of the matter is that BTC trade volume seems to be continuing as relatively low.... and so, when we have low trade volume, we can have a reversal of the direction at any time, even though it is kind of appearing that bears are losing a bit of control over the continuing and ongoing upward trend... .. they may have to wait until into the $700s or so before they are able to adequately and sufficiently reverse the current momentum and the upward price pressures that seems to be under this thing.. and also it is possible that they are not going to be able to do it, even into the $800s, crossing my fingers.. and if we get into the $800s quickly, then surely they are going to have some loss of control issues.

Take easy JJG, we are brothers man

The thing is I want to break $1K+ this year, I'm fedup man lol

And it seems Toknormal is ignoring me

[JayJuanGee]

Buoyancy is recovering. Already back at 4540. (Quoting the more authoritative exchanges  )

I am really looking forward to 4540, too (to be reached and quoted on the more "make maerica grate gain places")   

[toknormal]

And it seems Toknormal is ignoring me

I'm not. I just can't tell you what the price is going to be in 2 months time and am not a fast enough typist to say so  

[JayJuanGee]

The market seems to be digging itself out of the hole now though.

Could you kindly elaborate more ?

And tell me your outlook please for the coming weekend, is really the rally QUENCHED or there is still a chance ?

Edit : Is the rally continuing ?

I understand, Fakhoury, that you are  not asking me, but I CANT RESIST....

You know, having a purpose such as one to "quench rallies" and actually achieving such purpose, can be two separate things. 

And, surely the evidence of decent upwards price pressures is continuing to show its cute lillie noggen...

In other words, we seems to have gots ourselves decent upwards price momentum that is not going to easily by quenched...

Surely, we are still operating on very low trade volume (and who gives a shit what you see in china and some of those other fake, no fee, bot exchanges), the fact of the matter is that BTC trade volume seems to be continuing as relatively low.... and so, when we have low trade volume, we can have a reversal of the direction at any time, even though it is kind of appearing that bears are losing a bit of control over the continuing and ongoing upward trend... .. they may have to wait until into the $700s or so before they are able to adequately and sufficiently reverse the current momentum and the upward price pressures that seems to be under this thing.. and also it is possible that they are not going to be able to do it, even into the $800s, crossing my fingers.. and if we get into the $800s quickly, then surely they are going to have some loss of control issues.

Take easy JJG, we are brothers man

The thing is I want to break $1K+ this year, I'm fedup man lol

hahahahahaha


And the funny part is when I seem to becoming more bullish than you...

ahahahahaha...

I just get a bit nervous with any kind of time boundaries regarding when something is going to happen in bitcoin...


It is quite apparent that it is very difficult to know when or if $1k is gonna be reached.  Surely, there is enough going on and even enough upward price pressures that we could be pushed into the $3 to $5k territory within a few weeks, but it is still so difficult to really place high probabilities on such a scenario taking place.

I prefer to play a bit conservative, and to be pleasantly "surprised" if the more bullish scenario plays out...

You probably already have a pretty decent grasp of my BTC situation - at least I have rambled on and on about it enough, but the fact of the matter is that my BTC portfolio was largely in the red for a large part of my first 2.5 years in bitcoin.. so I am feeling pretty damned good that my BTC portfolio has been floating largely between 30% and 70% in the green for about the past 5 months, and seemingly even fairly securely in such positive price territories (and currently about 52% in the green)...

 So really, I am continuing to work my BTC holdings and my BTC portfolio that is a combination of BTC and cash, but anywhere in the green is feeling pretty decent, these days...

Of course, bigger numbers are nice too, but in my mind, all of those bigger numbers are icing on the cake and nothing to rely upon or to put all my eggs (or a lot of my eggs) into such a reliance.

And it seems Toknormal is ignoring me

I don't think that he is ignoring you.  My conclusion, after extensive and extended analysis and relying upon relevant and material factors including world wide data, numerology and astrology is that he is just the "shy" and "sensitive" type.   Believe it or NOT.   

[Karartma1]

There's nothing better than enjoying an excellent coffee in a rainy day when one sees green everywhere.

I'm just a bit scared by the trading volume happening on Chinese exchanges.

[Fatman3001]

And it seems Toknormal is ignoring me

I don't think that he is ignoring you.  My conclusion, after extensive and extended analysis and relying upon relevant and material factors including world wide data, numerology and astrology is that he is just the "shy" and "sensitive" type.   Believe it or NOT.   

Damn, lambie! You've perfected this. You can crush the world with this character.

[Elwar]

I wonder if all exchanges will consolidate on $666.

Looks like Bitfinex doesn't want to touch it while Bitstamp is slowly moving toward it.

[willope]

yeah Back to the magical $666.
Ok, 666 666  would be better.

[yefi]

I wonder if all exchanges will consolidate on $666.

Looks like Bitfinex doesn't want to touch it while Bitstamp is slowly moving toward it.

I'm sacrificing lambs on the pentagram as we speak. 

[toknormal]

I'd say $2000 by the end of 2018.

[podyx]

I'd say $2000 by the end of 2018.

I call your $2000 and raise you $6000

That's 8 grand daddies