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

[Torque]

Bull trap or bear trap?

[podyx]

Looks like a head and shoulders on the 30m chart.

I still think we're bullish tho.

[JayJuanGee]

I keep thinking about transferring a chunk of my retirement funds into Bitcoin. Would be a good investment, especially with the recent currency manipulation being done by govts.

Your retirement funds are in fiat?

The very first coins I bought for $68 back in early 2013 were bought specifically as a retirement fund, or rather as a nest egg for my old age as I was already mostly retired. I was 64 years old at the time and had no real retirement funds per se.

This is why I accumulate and spend only when absolutely necessary.

Keeping your retirement funds in ever-devaluing fiat is silly. Overall, Bitcoin has increased in spending power while the value of fiat has dwindled.

That should reasonably put you at least in the 100 coins arena.. regarding your holdings quantity....

It doesn't really matter too much regarding what is your specific quantity of BTC holdings; however, it is very nice to see that you were able to achieve at least a 12x return (on paper at today's prices)  on those specific initial coins that you bought.


Since I got into BTC much later, I have been quite elated that in recent days that my accumulated coins have been floating between 105% and 115% in the green (in profits)...

It's quite a magnitude of difference if a person's coins are floating anywhere in the 1,000% plus profits territory, yet I am still of the opinion that there are decent ways to make continued attempts at managing the overall value of your holdings and even the extent to which that capital is working and/or reasonably protected from volatility by making various ongoing trading efforts..

[JayJuanGee]

Xmas correction to 860$ and then rocket goes to moon?

Is not even $860. It was $800 and now the price it going $900 cos the current price is $899. Rocket does go to the moon

I hope it comes back to $800 for some time, I'm prepared to purchase more of bitcoins for $800, but not for more than that.
......[edited out]

That's ridiculous. 

It does not matter for how much you buy your coins, as long as you sell for higher than you buy.

Also, putting a ceiling on the price at which you would buy something like bitcoin is ridiculous too, especially if you do not have bitcoins.

In any event, any reasonable and prudent buying strategy needs to be a bit more nuanced and sophisticated rather than placing absolute values, when you may well have no fucking clue regarding the short term or medium term price direction(s).

[BlindMayorBitcorn]

Ok who dumped? There's no dumping on Christmas! You heathens. 

[Searing]

Can we hit $1000 soon?

I'm getting bored...

low volume everyone has been dragged out into "the real world" by wives and girlfriends for xmas new years etc

I'm happy it is hanging in there this well.

Also expect same for Chinese New Years for above reasons also

be patient young Jedi ..the force is strong in BTC



Soon! (tm BFL)

In Two Weeks! (tm BFL)

[Ibian]

Just remember that anything above 850 is awesome.

[JayJuanGee]

Just remember that anything above 850 is awesome.

You seem to be setting yourself up for failure if you are expecting $850 to hold in order for bitcoin to be in a state of "awesome"

We gotta also remember that we have not really experienced any kind of meaningful downward price correction since the lower $600s, so we could experience a correction that goes down 15% to 25% or even more (even as far down to lower $600s), and we will still be a decent state with bitcoin and I believe that we would still be in a bull price uptrend as long as prices generally stay above $600.. even if there were a spike below $600.

I think that bitcoin is in a state of awesome because it already spiked up to $920, and so far we have had about a 7% correction from the $920 price of the past couple of days...

I don't bank on any such spike below $600 (which would be a quite large 50% correction), but certainly, I am currently in a phase of buying bitcoins, and I am buying in small increments all the way down - even if prices were to spike below $600..

In this correction, I have been buying in small increments since $890...   because I have no clue regarding how long this correction will last or when it will stop..... which seems quite plausibly below $850.. and I think that we are still in a state of "awesome" because it was quite amazing to go from $790 to $920 in a matter of just a couple of days...

[TooDumbForBitcoin]

where is adamstgBit? Hope he's fine

https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-856

[spooderman]

dumping on christmas.

filthy.

[MirkoIta]

BTC hates you greedy bastards and dump on Christmas. Next stop 800$

[JayJuanGee]

BTC hates you greedy bastards and dump on Christmas. Next stop 800$

Bitcoin has no feelings - It is based on math.

[600watt]

bear trap

[the artful bodger]

BTC hates you greedy bastards and dump on Christmas. Next stop 800$

Happy Christmas.

It's testing the resistance from three days ago. Seven days ago it was under $800. It can't keep going up over a hundred dollars a week without retraces. If you zoom in on the run up to the last ATH there were big retraces before it made it.

This one was likely because all the banks in the west are closed for a few days, which stops money getting through to exchange. When the banks have reopened the price might go back up over $900 again.

[molecular]

BTC hates you greedy bastards and dump on Christmas. Next stop 800$

Happy Christmas.

It's testing the resistance from three days ago. Seven days ago it was under $800. It can't keep going up over a hundred dollars a week without retraces. If you zoom in on the run up to the last ATH there were big retraces before it made it.

This one was likely because all the banks in the west are closed for a few days, which stops money getting through to exchange. When the banks have reopened the price might go back up over $900 again.

I can't wait for the "over 9000" memes.

Might take a year or 4, though. But who knows... this is bitcoin.

[hulla]

Xmas correction to 860$ and then rocket goes to moon?

Is not even $860. It was $800 and now the price it going $900 cos the current price is $899. Rocket does go to the moon

I hope it comes back to $800 for some time, I'm prepared to purchase more of bitcoins for $800, but not for more than that.

Bitcoin is sustaining the price of $899-$900 today by the way.

The prediction says the price will rise above $1000 next year. So, I think you're a lil late for that. Though the current price is $888 and that because of the Christmas holiday.

[gembitz]

https://blog.torproject.org/blog/tor-heart-cryptocurrencies

 

 " Tor provides privacy to cryptocurrency transactions! "
===>*Posted December 20th, 2016

[Fakhoury]

BTC hates you greedy bastards and dump on Christmas. Next stop 800$

Happy Christmas.

It's testing the resistance from three days ago. Seven days ago it was under $800. It can't keep going up over a hundred dollars a week without retraces. If you zoom in on the run up to the last ATH there were big retraces before it made it.

This one was likely because all the banks in the west are closed for a few days, which stops money getting through to exchange. When the banks have reopened the price might go back up over $900 again.

I can't wait for the "over 9000" memes.

Might take a year or 4, though. But who knows... this is bitcoin.

Why so bearish, we could be there in the coming month

[Fakhoury]

bear trap

100% correct

[Chainsaw]

I can't wait for the "over 9000" memes.

Might take a year or 4, though. But who knows... this is bitcoin.

Ditto - probably closer to 4, depending on how you count 

Can't wait to start seeing in the Wall Observer thread.

All it would take is two or more mega-whales get in a bit-grabbing race. (The likelihood of this increases as price keeps rising.) I see a spike to the 10K within a few months as being incredible, unlikely...but certainly possible.