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

[Killerpotleaf]

1 more leg down, maybe
2 more legs up, definitely

[1715219039]

1715219039

[eddie13]

Average fee per TX in last block is about 350k sat each..

[Killerpotleaf]

Breaks up or down?

What does the squiggly line indicator at the bottom of the chart say it's going to do? Does the Ronald big Mac Donald indicator contradict the squiggly line indicator?

Think it means that anything can happen - I dont know if we are in a bull or a bear right now, so just holding tight =)

you have to put the squiggly line indicator in context to give it meaning.

- assuming we are in a bear trap.
- squiggly line indicator signals the bear trap will soon close!
- there is NO possibility that it will break down, 0 nil none.

there you go.

I use chicken bones, they're pretty good indictator - they tell me anything can happen. Usually.  Very reliable.

lmao

[Killerpotleaf]

>1000$ <45mins 

[eddie13]

Breaks up or down?

What does the squiggly line indicator at the bottom of the chart say it's going to do? Does the Ronald big Mac Donald indicator contradict the squiggly line indicator?

Think it means that anything can happen - I dont know if we are in a bull or a bear right now, so just holding tight =)

you have to put the squiggly line indicator in context to give it meaning.

- assuming we are in a bear trap.
- squiggly line indicator signals the bear trap will soon close!
- there is NO possibility that it will break down, 0 nil none.

there you go.

I use chicken bones, they're pretty good indictator - they tell me anything can happen. Usually.  Very reliable.

lmao

Looking positive but very cautious..

[JayJuanGee]

>1000$ <45mins 

Fuck Adam.. I don't know if I believe you about the greater than $1k thingie magigie in less then 45ms. 

I think that your statement, in order to be credible, has to be confirmed.

[Killerpotleaf]

>1000$ <45mins 

Fuck Adam.. I don't know if I believe you about the greater than $1k thingie magigie in less then 45ms. 

I think that your statement, in order to be credible, has to be confirmed.

only the market can confrim or deny my unbelievably specific / accurate predictions speculations

40 mins now
tic toc
time it

[AlexGR]

Average fee per TX in last block is about 350k sat each..

Average should include those who overshoot it because they are lazy to calculate it - it's not a requirement.

https://bitcoinfees.21.co/

The fastest and cheapest transaction fee is currently 100 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 22,600 satoshis (0.17$).

Pretty much the same as yesterday.

[AlexGR]

Always been confused by this and maybe someone can help.

How will bitcoin get to a high price if it can't do big jumps in price?

Surely slow and steady will take us tens and tens of years.

How can 10k (for example) be even remotely realistic any time soon?

Not trolling, just wondering your thoughts.

This is a good question, one that I have been thinking about.

Vinny Lingham predicts a slow and steady rise to 2k-3k during 2017. His judgement seems as good as anyone's to me. But I agree there's no way in hell we're gonna go slow and steady to 100k, or even 10k. And yes I'm thinking in log axis. Suppose price multiplies by 2.5 x per year. Five years of that would get us to 100k. But can you imagine that actually happening? Once that pattern establishes itself, someone who thinks in terms of years is gonna try to frontrun it and will be willing to buy at a premium, short term traders will see that happening, the price will go parabolic, everyone will know it's day traders responsible for the short term parabolic rise and will try to front-run them cashing out, big crash, and there you have it. So if it's truly going to the moon, I think it's safe to assume that it will be a volatile ride all the way to the top.

Hmm, that gives me an idea on how to model the magnitude of the swings. If you knew how many speculators there are (in terms of how much capital they are working with) and what time frames they are working in (long term investors or "long-termers," minute to minute day traders of "short-termers," and everything in between), and the first people to go long are the long-termers and the last to go long are the short term day traders, with the in between being the in between, then the parabolic rise ends when the progression from long termers to short termers runs out.

I've been thinking about this too. The moment the market becomes predictable ("it will go to 2k-4k-10k"), it's the exact same moment that someone can front run the legitimate non leveraged buyers - making their purchases much harder (while the leveraged trader gets all the money). From that perspective, some uncertainty with periodic dips is a good thing.

[JayJuanGee]

Speaking of walls, anyone notice the wall of bids to purchase 2208 BTC on Bitstamp at $890.  That is $1.965 million.

We cannot be asserting that Bitstamp is running out of fiat, can we?

[JayJuanGee]

>1000$ <45mins 

Fuck Adam.. I don't know if I believe you about the greater than $1k thingie magigie in less then 45ms. 

I think that your statement, in order to be credible, has to be confirmed.

only the market can confrim or deny my unbelievably specific / accurate predictions speculations

40 mins now
tic toc
time it

Hahahahaha..

Were goes your irresolute and steadfast confidence? 

I thought that you would just respond to me with a one word answer that starts with a "c".   hahahahhahaa   

[kurious]

Signs of life...?

Chicken bones say anything can happen.  But watch out for a possible W bottom (seen in the bones) before the real rise back up again....

We need to see strength and a volume rise.  Careful out there, eh?

[kurious]

Chicken TA is not as good as Dino TA.

And here is a Bolinger Band Brontosaurus.

Very rare....

[BTCtrader71]

Always been confused by this and maybe someone can help.

How will bitcoin get to a high price if it can't do big jumps in price?

Surely slow and steady will take us tens and tens of years.

How can 10k (for example) be even remotely realistic any time soon?

Not trolling, just wondering your thoughts.

This is a good question, one that I have been thinking about.

Vinny Lingham predicts a slow and steady rise to 2k-3k during 2017. His judgement seems as good as anyone's to me. But I agree there's no way in hell we're gonna go slow and steady to 100k, or even 10k. And yes I'm thinking in log axis. Suppose price multiplies by 2.5 x per year. Five years of that would get us to 100k. But can you imagine that actually happening? Once that pattern establishes itself, someone who thinks in terms of years is gonna try to frontrun it and will be willing to buy at a premium, short term traders will see that happening, the price will go parabolic, everyone will know it's day traders responsible for the short term parabolic rise and will try to front-run them cashing out, big crash, and there you have it. So if it's truly going to the moon, I think it's safe to assume that it will be a volatile ride all the way to the top.

Hmm, that gives me an idea on how to model the magnitude of the swings. If you knew how many speculators there are (in terms of how much capital they are working with) and what time frames they are working in (long term investors or "long-termers," minute to minute day traders of "short-termers," and everything in between), and the first people to go long are the long-termers and the last to go long are the short term day traders, with the in between being the in between, then the parabolic rise ends when the progression from long termers to short termers runs out.

I've been thinking about this too. The moment the market becomes predictable ("it will go to 2k-4k-10k"), it's the exact same moment that someone can front run the legitimate non leveraged buyers - making their purchases much harder (while the leveraged trader gets all the money). From that perspective, some uncertainty with periodic dips is a good thing.

I don't know if I would call it good or bad ... merely inevitable.

Or I suppose what you are saying is that a certain degree of uncertainty is to be expected in a properly functioning market, and is therefore evidence of a properly functioning market. So if we went through a period without the volatility .... that would be a bad thing? hmmm. just thinking out loud.

I wonder if there's a way to calculate what the "expected" amount of volatility should be. I've often wondered whether that might be related to the average spread on the exchanges: smaller spread would enable profitable trading on higher frequency, lower amplitude swings, which in turn would allow (by the reasoning above) parabolic swings to go steeper +/- higher before they burst ...

OK, I got it.
1) Quantify the average spread on the available exchanges.
2) Derive a formula that allows you to calculate the expected volatility based on average spread.
3) Profit.
Lol. Not sure how to profit on that yet ...

[JayJuanGee]

Speaking of walls, anyone notice the wall of bids to purchase 2208 BTC on Bitstamp at $890.  That is $1.965 million.

We cannot be asserting that Bitstamp is running out of fiat, can we?

Also, interesting to see a sell wall of 730BTC at $1,034 (amounting to $755k). 

I have a "feeling" that we are going to move towards the $1,034 sell wall.. and who knows what is going to happen?  Anyone?

[600watt]

fees mooning


56k unconfirmed and counting with 51.51254117 BTC of included fees waiting to be mined..

That is an average of people including over 100k sat fee per transaction..

i like the open websites on your screenshot. looks like mine..  


edit: admit it that the youtube bar is an andreas a. talk. 

[K~Ehleyr]

Looks like the train is pulling out of the station again!  I can hear the whistle 

[DefendKebab]

Speaking about donkeys and stones , more bagholders incoming in the next week.

[kurious]

Looks like the train is pulling out of the station again!  I can hear the whistle 

China over 7000 - spam on network... spike coming, but tread carefully in case of a possible second dump?

[boyshx]

BACK TO THE MOON !!!