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

[Killerpotleaf]

here comes the big one

[sirazimuth]

that went right over my senile head ..but i still got good lol regardless, thanx my friend!

edit.. ok the light just went on...duhhh!

[r0ach]

I remain convinced that Bitcoin is a long-term successful moonshot.

Yea, that's the problem.  The only way Bitcoin can be a guaranteed moonshot is if the plan of governments is to allow it to grow then co-opt it after and turn it into their cashless society slave system.  They'll create a fixed address, alias system wrapper with your name tag on it to go around Bitcoin and force you to use it or you'll be considered a criminal launderer.  We've already seen hints of this action with things like chain anchor.

Chain anchor was the direct approach and it failed (so far).  Next they'll figure out they don't actually have to modify the Bitcoin client and can just make their own that wraps around Bitcoin and legally force you to use it.  They will then wait until the majority of the population is herded into the system and then use the wrap around client to divorce themselves away from a finite, native Bitcoin unit and just turn it into the same fiat system that already exists except with the added bonus of cash being abolished and all transactions are tracked with your money automatically being stolen or redistributed to wherever they want.

They're already floating this propaganda now that with the "rise of robotics" causing unemployment, a Marxist slave system run by technocrats is required for humans to exist.  The only type of functional collectivist systems to ever exist are ones where people share the same genes like in a family unit or as seen in prisons where people form a bloc for common interests.  Tossing the mass of humanity into a big Marxist system always ends in collapse and mass death.

Don't get me wrong, you will probably be able to make some money on the ride towards this obvious endgame, but I give odds of around 10% that cryptocurrency turns out good in some way for humanity, and 90% chance it ends in the above dystopian scenario, co-opted by government and run by a bunch of people with the last name Goldstein.

I own gold, silver, and Bitcoin, and every time I see Bitcoin go up, it makes me equally happy and frightened since I already know what the most likely outcome is.

buy or die

Already up to my eyeballs in coins.  I just think the danger of a digital only currency is higher than possible benefits, so if playing god, I would likely just destroy it and institute physical silver and gold as the currency.  It seems people want to go through the motions and see what happens with this digital currency thing even though it's pretty obvious what's going to happen.  The only way it's not going to happen is if the government magically ceases to exist before they co-opt it, which is possible but not very likely.  The legal system and men with guns always trumps whatever you're doing with this stuff.  

So you then need to examine the applicability of utilizing Bitcoin only in a black market context compared to using metals in the same situation.  It did work on the silk road in the past, but that did not afford it a high market cap and the government would likely clamp down on it at the ISP level or something to prevent it from being anything more.  Meanwhile, it's very difficult for them to stop use of metals no matter what the law is.  So, as I was saying, the easiest way for you to maximize profit in Bitcoin is to hope that it is a government trojan horse, otherwise it will be a rough trip and no "guaranteed moonshot".

[jbreher]

As you may recall, my sells are staggered,

Yes. Likely similar to what I refer to above as 'laddered day trading'. (I'm likely not conversant with trading vernacular - that's just my term).

so I am not really selling at the top... even though maybe that would be a better strategy

Well, of course selling only at the top would be a better strategy ... if only there were some way to make this strategy realizable. But there ain't. C'est la guerre.

[jbreher]

Perhaps everyone here thinks that we are currently replaying October 2013 and haven't even made it to November yet?

Pretty much this^.

Not everyone. I think we could be replaying August 17th 2012.

Yeah, but you're bearish more often than not. I remain convinced that Bitcoin is a long-term successful moonshot. I remain serene in the face of crashes. Is now analogous to Oct 2013? Frankly, I have no idea. But it could be. More importantly, some time in the not-too distant future will be analogous to Oct 2013.

In the meantime, I await -- seated comfortably at my pick-a-nick table -- awaiting mah fine and glorious repast.

If you would think deeper about what I said, you would understand how bullish I am long term. Hint: what price was in August 2012 and what price in October 2013?

You mean presaging the runup to $266? OK, then. Mea culpa.

[Killerpotleaf]

[jbreher]

I remain convinced that Bitcoin is a long-term successful moonshot.

...

In understand your assertions. I certainly acknowledge the desire of TPTB to control it all. I just don't think they will be successful. A decade ago, discussing the true nature of partial reserve banking had one labeled as a loon. Now there is a portion of the population that understands. The tighter the grip, the more the resistance.

[jbreher]

Meanwhile, it's very difficult for them to stop use of metals no matter what the law is.

What attribute do you believe monetary metals possess that is not possessed by cryptocurrencies? From my understanding, crypto is the better bet. After all, we can hide an unlimited amount of it in secure fashion.

[Killerpotleaf]

everytime i think it can fly away market pisses on my dreams 

[Killerpotleaf]

this doesn't look good

[keyboard warrior]

this doesn't look good

[JayJuanGee]

As you may recall, my sells are staggered,

Yes. Likely similar to what I refer to above as 'laddered day trading'. (I'm likely not conversant with trading vernacular - that's just my term).

so I am not really selling at the top... even though maybe that would be a better strategy

Well, of course selling only at the top would be a better strategy ... if only there were some way to make this strategy realizable. But there ain't. C'est la guerre.

Probably the terminology does not matter too much is we are understanding what we are talking about.

I think that part of the point that I was attempting to make is that I just stagger or step my trades all along the spectrum and all the way up the ladder and then generally all the way back down, as compared with what you were saying that you pulled out your wallet of bitcoin's and began to enter a few staggerings in the $1,100s, which ended up being a decent strategy and may have even been better if the price had gone high enough in order to execute all of your sell orders - then pretty much you got a pretty decent interim play very near the top of this particular cycle.



Even though we may have some tendencies to feel some regrets about we could have played a bit higher stakes, to me, I don't really want to try that kind of bigger stakes strategy because it really does not seem to work too well for my stress levels.

On the other hand, I do attempt to learn from what I could have maybe done a little bit better in order to increase some of my comfort levels.  For this particular correction (that may not be over yet), I went through my various BTC trading accounts, and I restructured a large number of my orders under a new tweaked framework that pretty much caused the spreads to be considerably larger.... and yeah, I will probably tweak those spreads a bit more in the future, but it seems that this new tweaked strategy should at least last me for several months into the future - absent some other erratic  BTC price movements that don't end up being captured in the parameters of expectations that allowed by my new set-up.

[Killerpotleaf]

As you may recall, my sells are staggered,

Yes. Likely similar to what I refer to above as 'laddered day trading'. (I'm likely not conversant with trading vernacular - that's just my term).

so I am not really selling at the top... even though maybe that would be a better strategy

Well, of course selling only at the top would be a better strategy ... if only there were some way to make this strategy realizable. But there ain't. C'est la guerre.

Probably the terminology does not matter too much is we are understanding what we are talking about.

I think that part of the point that I was attempting to make is that I just stagger or step my trades all along the spectrum and all the way up the ladder and then generally all the way back down, as compared with what you were saying that you pulled out your wallet of bitcoin's and began to enter a few staggerings in the $1,100s, which ended up being a decent strategy and may have even been better if the price had gone high enough in order to execute all of your sell orders - then pretty much you got a pretty decent interim play very near the top of this particular cycle.



Even though we may have some tendencies to feel some regrets about we could have played a bit higher stakes, to me, I don't really want to try that kind of bigger stakes strategy because it really does not seem to work too well for my stress levels.

On the other hand, I do attempt to learn from what I could have maybe done a little bit better in order to increase some of my comfort levels.  For this particular correction (that may not be over yet), I went through my various BTC trading accounts, and I restructured a large number of my orders under a new tweaked framework that pretty much caused the spreads to be considerably larger.... and yeah, I will probably tweak those spreads a bit more in the future, but it seems that this new tweaked strategy should at least last me for several months into the future - absent some other erratic  BTC price movements that don't end up being captured in the parameters of expectations that allowed by my new set-up.

if you aren't done covering in the next few minutes you're fucked.

check this thread periodically while trading to incress your stress levels

[Ted E. Bare]

if you aren't done covering in the next few minutes you're fucked.

I don't see too much going wrong, probably more sideways consolidation? We've already had our major correction / dump a couple of days ago.

[JayJuanGee]

As you may recall, my sells are staggered,

Yes. Likely similar to what I refer to above as 'laddered day trading'. (I'm likely not conversant with trading vernacular - that's just my term).

so I am not really selling at the top... even though maybe that would be a better strategy

Well, of course selling only at the top would be a better strategy ... if only there were some way to make this strategy realizable. But there ain't. C'est la guerre.

Probably the terminology does not matter too much is we are understanding what we are talking about.

I think that part of the point that I was attempting to make is that I just stagger or step my trades all along the spectrum and all the way up the ladder and then generally all the way back down, as compared with what you were saying that you pulled out your wallet of bitcoin's and began to enter a few staggerings in the $1,100s, which ended up being a decent strategy and may have even been better if the price had gone high enough in order to execute all of your sell orders - then pretty much you got a pretty decent interim play very near the top of this particular cycle.



Even though we may have some tendencies to feel some regrets about we could have played a bit higher stakes, to me, I don't really want to try that kind of bigger stakes strategy because it really does not seem to work too well for my stress levels.

On the other hand, I do attempt to learn from what I could have maybe done a little bit better in order to increase some of my comfort levels.  For this particular correction (that may not be over yet), I went through my various BTC trading accounts, and I restructured a large number of my orders under a new tweaked framework that pretty much caused the spreads to be considerably larger.... and yeah, I will probably tweak those spreads a bit more in the future, but it seems that this new tweaked strategy should at least last me for several months into the future - absent some other erratic  BTC price movements that don't end up being captured in the parameters of expectations that allowed by my new set-up.

if you aren't done covering in the next few minutes you're fucked.

check this thread periodically while trading to incress your stress levels

Are you currently referring to covering shorts or longs?

I just buy as the price goes down.. unless it looks like it is going down in extreme fashion, then I attempt to cancel as many of my buy orders as I can and then maybe buy some of those at a lower price, if I am able to get to a computer while such a thing is happening, which happened when the price dropped from the $1090s arena down to $890 within about an hour. 

Luckily I was alerted early during the $1090 to $890 drop because the extremity of the drop became apparent in less than 10 minutes into it.  But if you cannot get to a computer, then you just gotta live with whatever you have preset... and maybe attempt to regroup afterwards.

[Killerpotleaf]

if you aren't done covering in the next few minutes you're fucked.

I don't see too much going wrong, probably more sideways consolidation? We've already had our major correction / dump a couple of days ago.

I'm working with the assumption that it wasn't a correction, more like a unavoidable bear trap, i expect a pretty fast recovery back over 1000$ ( within a week ) and continue to rally toward 1337 ( in a couple weeks ) and beyond ( moon ).

[Killerpotleaf]

As you may recall, my sells are staggered,

Yes. Likely similar to what I refer to above as 'laddered day trading'. (I'm likely not conversant with trading vernacular - that's just my term).

so I am not really selling at the top... even though maybe that would be a better strategy

Well, of course selling only at the top would be a better strategy ... if only there were some way to make this strategy realizable. But there ain't. C'est la guerre.

Probably the terminology does not matter too much is we are understanding what we are talking about.

I think that part of the point that I was attempting to make is that I just stagger or step my trades all along the spectrum and all the way up the ladder and then generally all the way back down, as compared with what you were saying that you pulled out your wallet of bitcoin's and began to enter a few staggerings in the $1,100s, which ended up being a decent strategy and may have even been better if the price had gone high enough in order to execute all of your sell orders - then pretty much you got a pretty decent interim play very near the top of this particular cycle.



Even though we may have some tendencies to feel some regrets about we could have played a bit higher stakes, to me, I don't really want to try that kind of bigger stakes strategy because it really does not seem to work too well for my stress levels.

On the other hand, I do attempt to learn from what I could have maybe done a little bit better in order to increase some of my comfort levels.  For this particular correction (that may not be over yet), I went through my various BTC trading accounts, and I restructured a large number of my orders under a new tweaked framework that pretty much caused the spreads to be considerably larger.... and yeah, I will probably tweak those spreads a bit more in the future, but it seems that this new tweaked strategy should at least last me for several months into the future - absent some other erratic  BTC price movements that don't end up being captured in the parameters of expectations that allowed by my new set-up.

if you aren't done covering in the next few minutes you're fucked.

check this thread periodically while trading to incress your stress levels

Are you currently referring to covering shorts or longs?

I just buy as the price goes down.. unless it looks like it is going down in extreme fashion, then I attempt to cancel as many of my buy orders as I can and then maybe buy some of those at a lower price, if I am able to get to a computer while such a thing is happening, which happened when the price dropped from the $1090s arena down to $890 within about an hour. 

Luckily I was alerted early during the $1090 to $890 drop because the extremity of the drop became apparent in less than 10 minutes into it.  But if you cannot get to a computer, then you just gotta live with whatever you have preset... and maybe attempt to regroup afterwards.

cover your sells.

yes i was canceling orders, hitting market, and cashing price like a mad fool too... was fun.


dang there goes 880

[Ted E. Bare]

I'm not sure about the time frame might take a couple of weeks maybe of not much movement. But I'm feeling comfortable about the bottom too. Looking forward to next week.

[keyboard warrior]

I'm not sure about the time frame might take a couple of weeks maybe of not much movement. But I'm feeling comfortable about the bottom too. Looking forward to next week.

It was only a month ago I was advising someone to close his sell order at $780. A month later and its crashed to $880. If this is the bottom it's up $100 from a month ago.

Good morning Bitcoinland.

Away for a day but I see I didn't miss anything. It's still about the same... $764USD/$1016CAD (Bitcoinaverage).

Isn't it about time for another assault on $780?

I've had a sell order at $780 for a long time, set it up literally the second after the market fell in June and it hasn't been hit yet - wonder if we'll break it this time.

I'd cancel it. If it goes above $780 it will probably go above $800. The last high is a resistance point, and traders will have placed secret buy orders above it. If it stays below $780 the traders will consider the last two $779 highs a double top, and if it goes above $780 the traders will consider it as an indication of another bull run.

[sirazimuth]

quite frankly i was just starting to get used to that nice steady sideways thing.
now these damn speed bumps are killin me...