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

[JimboToronto]

I was going to post this in the "We reached $1000CAD again!" thread but it seems to be locked so I'll post it here instead.
_____

Today's little dip not only dropped us back to triple digits, it took us all the way down to $973CAD. That was a drop of more than $50.

Now we're back up to over $991 and rising. Hopefully we'll be back over a grand tonight.

That $1000 represents 80% of the ATH. Onward and hopefully upward.

[becoin]

i'm short again but i made a killing shorting overnight so am prepared to lose some of that even if stamp manages to go n. of 630 before more bear time

hmmm, i still wonder if a domino effect of short liquidations is what will ultimately spur the uber rally?

[the artful bodger]

Well, we didn't break 750 for very long and we fell back because of that. Not too terrible, bad place to buy imo but we should be right back up to where we were in a week or less. We're still higher than we were a month and even 2 weeks ago, so that's a start. Dropping below 700 is pretty unlikely imo, but it could happen still.

About three days ago it went down to 730, then went back up again. Today it's gone down to 720, which is only 10 lower. It will probably continue playing ping pong between 700 and 750 for the next few weeks.

For the Chinese traders the price is still holding above 5000 CNY, and as long as it stays above it's not going below $700.

"probably continue playing ping pong between 700 and 750 for the next few weeks"

I wonder what are the odds for such a scenario playing out?

..... I would probably place the odds at less than 50% (and maybe even less than 1/3)

........, there is some exciting price movement in the air...

When everyone is excited uᴉoɔʇᴉq tends to stagnate, when everyone is bored uᴉoɔʇᴉq tends to unexpectedly pump. Often uᴉoɔʇᴉq trading patterns occur back to front, and upside down from what everyone expects. I would place the odds of uᴉoɔʇᴉq price stagnation at over 50% because everyone else is betting on it going up or down.

[calme]

i'm short again but i made a killing shorting overnight so am prepared to lose some of that even if stamp manages to go n. of 630 before more bear time

hmmm, i still wonder if a domino effect of short liquidations is what will ultimately spur the uber rally?

well it doesn't have to be either or. basically, something like an abc correction spurred by longs getting toasted, then shorts get toasted on way up

[Temp_JayJuanGee]

I feel strongly that this may be the last time btc gets anywhere near sub-700 ever again.

Buy the dip. No, really.

Finally, you are saying something that makes sense... hahahahahhaha   

[PoolMinor]

When everyone it excited uᴉoɔʇᴉq tends to stagnate, when everyone is bored uᴉoɔʇᴉq tends to unexpectedly pump. Often uᴉoɔʇᴉq trading patterns occur back to front, and upside down from what everyone expects. I would place the odds of uᴉoɔʇᴉq price stagnation at over 50% because everyone else is betting on it going up or down.

What are you talking about I clearly stated yesterday that the StochRSI had indicated overbought. This in laymen terms means a great time to short.

[calme]

one man's "buy the dip" is the next man's "short the bounce" 

[Temp_JayJuanGee]

Well, we didn't break 750 for very long and we fell back because of that. Not too terrible, bad place to buy imo but we should be right back up to where we were in a week or less. We're still higher than we were a month and even 2 weeks ago, so that's a start. Dropping below 700 is pretty unlikely imo, but it could happen still.

About three days ago it went down to 730, then went back up again. Today it's gone down to 720, which is only 10 lower. It will probably continue playing ping pong between 700 and 750 for the next few weeks.

For the Chinese traders the price is still holding above 5000 CNY, and as long as it stays above it's not going below $700.

"probably continue playing ping pong between 700 and 750 for the next few weeks"

I wonder what are the odds for such a scenario playing out?

..... I would probably place the odds at less than 50% (and maybe even less than 1/3)

........, there is some exciting price movement in the air...

When everyone it excited uᴉoɔʇᴉq tends to stagnate, when everyone is bored uᴉoɔʇᴉq tends to unexpectedly pump. Often uᴉoɔʇᴉq trading patterns occur back to front, and upside down from what everyone expects. I would place the odds of uᴉoɔʇᴉq price stagnation at over 50% because everyone else is betting on it going up or down.

I will concede to you that bitcoin will frequently perform in ways that go beyond expectations, but that does not mean that it does not follow some very basic principles in terms of trends and difficulties that may be incurred when either attempting to break support or resistance and the actual physical realities that there have to be folks (even manipulators) who have sufficient quantity of coins/fiat that are either on exchanges or easily can get to exchanges to overcome the forces of the other folks who also have coins/fiat there.

Also, sure each of us are entitled to ascribing our own probabilities to various possible outcomes and betting our investment accordingly (or whatever it is that we do to attempt to synchronize our view with our actions).

Regarding your stated view of probabilities, I find it a bit illogical and difficult to grasp when you seem to be asserting something like, a very large number of folks seem to believe that bitcoin is going to volatile into the near future, therefore, it seems more likely than not that bitcoin is not going to be as volatile as everyone else seems to be thinking.  Comes off as a bit nonsensical to me, but hey, as I already conceded, everyone is entitled to his/her own viewpoint.

[Ted E. Bare]

Well, I guess this was a fun little dip for the bears to enjoy with their #alphanumeric accounts.

[unknown04]

Well, I guess this was a fun little dip for the bears to enjoy with their #alphanumeric accounts.

lol, to me, this is just some small dip... not some big crash mentioned by those #alphanumeric accounts... I think it will get back to $750... We'll see...

[JimboToronto]

Well, I guess this was a fun little dip for the bears to enjoy with their #alphanumeric accounts.

lol, to me, this is just some small dip... not some big crash mentioned by those #alphanumeric accounts... I think it will get back to $750... We'll see...

Of course it will get back to $750 and beyond. That's a given. How soon is the only question and my guess is fairly soon.

As for the #alphanumeric accounts, let's not forget the 6-character random part. "Unknown04" is alphanumeric but it's 9 characters long and it's hardly random.

#sixcharacterrandomalphanumeric

 

[Paashaas]

Big dumps about to happen in aprox 3-4 hours 680 incoming

We will never see $680 again, $700 is holding and rising back to $750.

[calme]

here it comes

[savetherainforest]

Just got back from buying all I could afford on a Sunday... half a coin.

Looks like I may have caught the bottom.

At times like this I get nostalgic for when I could take $500 bucks and go buy 5 coins but as I said on the last buyable dip, half a coin is better than no coins at all.

Your grandchildren / ancestors will raise bronze and marble statues in the middle of cities and inside their homes!  

[JimboToronto]

Your grandchildren / ancestors will raise bronze and marble statues in the middle of cities and inside their homes!  

LOL If I live as long as my grandmother, I've still got almost 30 years left. I might just have it all spent myself.

 

[Temp_JayJuanGee]

here it comes

Could work.  

You have a stop loss set at $744?  hahahahaha...

Good luck with that short... seems a lot safer to consider less risky and less gambling orientated accumulation methods, but to each his/her own. 

[DaRude]

China currency keeps devaluing. So i guess Trump was better for BTC.


Make Bitcoin Great Again!!!!

[unknown04]

China currency keeps devaluing. So i guess Trump was better for BTC.


Make Bitcoin Great Again!!!!

not until I see bitcoin price up

[Denker]

Well, I guess this was a fun little dip for the bears to enjoy with their #alphanumeric accounts.

Yeah this was definitely on big attempt to shake out the last weak hand I would guess.
I mean a drop from 750 to 710 in 6 hours is no normal market behaviour.
Someone or a few really tried to fear the market.Some of course will always sell, at least a bit.
And see what nice bounce we saw after that!
Let the hardcore traders and speculators kill beat each other I say.
I'm long and my coins are safed!

[DaRude]

China currency keeps devaluing. So i guess Trump was better for BTC.


Make Bitcoin Great Again!!!!

not until I see bitcoin price up

price up = price>$1200

fine i agree