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

[rjclarke2000]

This is a very harsh thing to say on a Monday morning here in the U.K. ^^^^


can't you just be bullish. At least wait a few more hours.

[marcus_of_augustus]

  sheesh ... I thought we ditched all the ether huffers?

[marcus_of_augustus]

sheesh ... I thought we ditched all the ether huffers?

Sorry to ruin your overproductive circlejerk

you're childish crayon drawings on charts aren't ruining much beyond any kind of credibility you might have had ... didn't realise you were a ether huffer but your response indicates ... if the cap fits and all that.

Must be that time for the altcoin trolls and banksters ether huffers to flood the bitcoin forums with FUD brigades again, how predictable and boring, so much desperate me tooism.

2017 looks likely to be the year for institutions to open positions in bitcoin, pathetic little bear scalpers like tzupy and his brigade will have to find something else to do besides dreaming up endless FUD.

[JayJuanGee]

This sort of discourse is why I love this thread.

Sorting through the memes, Trains/Rockets/Wile E Coyote gifs, chart posts with "TA" which is neither technical nor analytical, completely valueless comments "Is crypto done", long winded dribble, diatribes, plus tons & tons of bull and bear shit - occasionally there is some insightful and interesting discussion taking place.

Except that nowadays that is considered to be off-topic and deleted by moderators 

Agreed... less deleting is in order (except for newbie accounts that are obvious trolls, of course... or maybe the posts of old accounts that devolve into nonsubstantive personal attacks).

[Cassius]

If it was a bubble, it was a pretty unimpressive one. A run-up, sure, but nothing spectacular by bitcoin standards. No double top. A crash that burned a good few traders but was underwhelming in the grand scheme of bubbliness. Whatever's going on here hasn't finished playing out by any stretch, and neither have the geopolitics driving it.

[kurious]

If it was a bubble, it was a pretty unimpressive one. A run-up, sure, but nothing spectacular by bitcoin standards. No double top. A crash that burned a good few traders but was underwhelming in the grand scheme of bubbliness. Whatever's going on here hasn't finished playing out by any stretch, and neither have the geopolitics driving it.

I agree with this on the whole.

I think simply put, BTC got fashionable in China as the Yuan's continual devaluation made BTC ever more attractive.  The sudden reverse in the rise was more to do with an unexpected sudden spike in the Yuan's value against USD, which wrong footed the market.  That might have been engineered by the PBOC, but it was a real financial markets event.

It was not FUD, not conspiracy, just plain old speculation, supply & demand and the big factor of... market sentiment

It's a volatile world and the next move is anyone's guess, I am not feeling so bullish that I see the ATH 'within days' but I don't see the long term bull trend as over just because we are back to the prices of a few weeks ago, either.

[Miz4r]

Maybe instead of being such a cultist and claiming that there is a anti-btc conspiracy by EtherAltCoinBanksterIlluminatiTrolls you should consider that you are just being delusional about this chinese pump that ended in a logical conclusion.

Maybe you want to zoom out the chart and see this has happened two more times since the bear market ended after September 2015. The first was after the push from $250 to $500, the second after a push from $440 to $790 and now again after a push from $750 to $1160. So far this is nothing but a normal correction you'd expect after such a quick increase, I think you may be having bearish delusions about what is pretty normal market behavior in a strong bull market. The Chinese market being more volatile in its moves than the western market is also nothing new to Bitcoin. I expect some weeks of consolidation between $850-$1000 before the rally continues, don't think this is done yet.

[gembitz]

What does anything of this has to do with ether? Anyone who is bearish on btc price is the altcoin troll/"ether huffer"? Are you for real?

FUD this, FUD that..

Talking about "credibility" - this is a speculation thread - how much BTC did you make on this rally with your delusional views? What exactly is your credibility? I called this rise being china manipulated and made ~10BTC by shorting the top (risking less than 0.8BTC), if you did any better, feel free to share your success.

Maybe instead of being such a cultist and claiming that there is a anti-btc conspiracy by EtherAltCoinBanksterIlluminatiTrolls you should consider that you are just being delusional about this chinese pump that ended in a logical conclusion.




There is indeed a certain cap that fits you, and thats a cap of a moron.

 

^what exchange do you use to go leveraged short?    tia!

[eddie13]

how much BTC did you make on this rally with your delusional views?

100% +

[Ibian]

We can create perfect diamonds now. As in better than natural ones. Eventually we will be able to create gold by manipulating atoms. Bitcoin suffers no inflation of this nature.

[eddie13]

What does anything of this has to do with ether? Anyone who is bearish on btc price is the altcoin troll/"ether huffer"? Are you for real?

FUD this, FUD that..

Talking about "credibility" - this is a speculation thread - how much BTC did you make on this rally with your delusional views? What exactly is your credibility? I called this rise being china manipulated and made ~10BTC by shorting the top (risking less than 0.8BTC), if you did any better, feel free to share your success.

Maybe instead of being such a cultist and claiming that there is a anti-btc conspiracy by EtherAltCoinBanksterIlluminatiTrolls you should consider that you are just being delusional about this chinese pump that ended in a logical conclusion.




There is indeed a certain cap that fits you, and thats a cap of a moron.

 

^what exchange do you use to go leveraged short?    tia!

With leverage like that I expect bitmex..

[Cassius]

Maybe instead of being such a cultist and claiming that there is a anti-btc conspiracy by EtherAltCoinBanksterIlluminatiTrolls you should consider that you are just being delusional about this chinese pump that ended in a logical conclusion.

Maybe you want to zoom out the chart and see this has happened two more times since the bear market ended after September 2015. The first was after the push from $250 to $500, the second after a push from $440 to $790 and now again after a push from $750 to $1160. So far this is nothing but a normal correction you'd expect after such a quick increase, I think you may be having bearish delusions about what is pretty normal market behavior in a strong bull market. The Chinese market being more volatile in its moves than the western market is also nothing new to Bitcoin. I expect some weeks of consolidation between $850-$1000 before the rally continues, don't think this is done yet.

There was not the irrational exuberance of a bubble ($100k!!!) and we didn't pass the old ATH. The 'crash' hasn't been that severe. It was high-volume, so I'll want to see plenty of volume on the way up to keep me happy. But right now I'm not bearish. It seemed like more of a correction than a reversal.

[becoin]

I called this rise being china manipulated and made ~10BTC by shorting the top (risking less than 0.8BTC), if you did any better, feel free to share your success.

I made much, much more BTC in profit by longing every local bottom. It is without any risk because can hold this long position indefinitely.

[eddie13]

Their were already 2 examples of this correction/pullback, whatever you want to call it, on the way to $1k in the first place..

I don't understand why people are so freaking about this.. It just broke almost every ATH.
Bitcoin is ALIVE..

Look at all the charts on blockchain.info

Do you guys think that the difficulty, hashrate, transactions, and many other metrics are going to pull back?
Do you think BTC is going to loose users from here? Nodes? Miners?

How about media exposure and general knowledge of BTC among normies? People knowing about it.. Is that going to start decreasing?

I think not..

We just barely dipped below the last ATH marketcap by just a couple million $ and are currently sitting above the old ATH marketcap still like it is our bottom.. We are literally bottoming on the old ATH marketcap right now..

Bitcoin is alive and well, better than ever, the price may go down for a bit but by almost all other measures BTC is up and up..

[600watt]

guys, could you please stop quoting this magicbean. thx.

[bitserve]

I am wondering about all the liquidity that there is now in most exchanges after the selloff... Would the majority just transfer the profits to their bank accounts or instead leave it there waiting to rebuy?
I have never transferred any amount back... it is just "bitcoin money" for me, but I am wondering if there is many people that do otherwise.... any hints?

[Tzupy]

Support broken. Looks like we are in the middle of the second leg down of A.

Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY.

China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream.

I never margin trade, but this is a moment I would expect some smart types to go long.

You still think we have further to go down?

I am not criticising - given your recent prescience, I am asking.

Quite likely to go further down, but not right now. Go long only for scalping.

At last the Chinese dumped (as usually, started at 3.45 am my time, while I was asleep), probably completed the second leg down of A. This took too long and almost made me believe it was truncated.
If I am right and the third leg down is to come, resistance moved to about 6300 CNY. I am expecting a small bounce into that resistance, and sideways for two days, then the third leg down.

Right when the market was at an inflection point, ready to take the plunge and confirm the third leg down, a LTC pump started and BTC followed soon, so I don't know which way...

The market has slowed down, and the Chinese established a critical support at 6100 CNY. If this will be broken, which could happen tomorrow, then the third leg down will be confirmed and A would end soon.

Support was broken just after I went to sleep, but so far it bounced, we'll see what happens during the next hours, will the drop continue or not?
There is another possibility, that we already completed A and now we are actually during the B... The initial dump was so fast that it compressed the waves and made counting difficult.

It looks like the market was moving faster than I calculated and already completed A and we are now in B, possibly already after the top of it.
If the B scenario will become true, I expect to go sideways for the next 4 - 7 days, and then correct 30%, to about 660$ on western exchanges.

[boyshx]

Support broken. Looks like we are in the middle of the second leg down of A.

Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY.

China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream.

I never margin trade, but this is a moment I would expect some smart types to go long.

You still think we have further to go down?

I am not criticising - given your recent prescience, I am asking.

Quite likely to go further down, but not right now. Go long only for scalping.

At last the Chinese dumped (as usually, started at 3.45 am my time, while I was asleep), probably completed the second leg down of A. This took too long and almost made me believe it was truncated.
If I am right and the third leg down is to come, resistance moved to about 6300 CNY. I am expecting a small bounce into that resistance, and sideways for two days, then the third leg down.

Right when the market was at an inflection point, ready to take the plunge and confirm the third leg down, a LTC pump started and BTC followed soon, so I don't know which way...

The market has slowed down, and the Chinese established a critical support at 6100 CNY. If this will be broken, which could happen tomorrow, then the third leg down will be confirmed and A would end soon.

Support was broken just after I went to sleep, but so far it bounced, we'll see what happens during the next hours, will the drop continue or not?
There is another possibility, that we already completed A and now we are actually during the B... The initial dump was so fast that it compressed the waves and made counting difficult.

It looks like the market was moving faster than I calculated and already completed A and we are now in B, possibly already after the top of it.
If the B scenario will become true, I expect to go sideways for the next 4 - 7 days, and then correct 30%, to about 660$ on western exchanges.

I don't get it.

what's A and what's B? You saying this is going sub 800 and then going up? the handle thing?

[rjclarke2000]

Yeah, he said sideways for a week and then down to $660

[JayJuanGee]

Support broken. Looks like we are in the middle of the second leg down of A.

Critical support broken, confirms we were in the middle. Bottom should be around 5000 CNY.

China won't drop right now, so either the last small part of the dump is truncated, or delayed for several hours. 5000 CNY would have been a bear's wet dream.

I never margin trade, but this is a moment I would expect some smart types to go long.

You still think we have further to go down?

I am not criticising - given your recent prescience, I am asking.

Quite likely to go further down, but not right now. Go long only for scalping.

At last the Chinese dumped (as usually, started at 3.45 am my time, while I was asleep), probably completed the second leg down of A. This took too long and almost made me believe it was truncated.
If I am right and the third leg down is to come, resistance moved to about 6300 CNY. I am expecting a small bounce into that resistance, and sideways for two days, then the third leg down.

Right when the market was at an inflection point, ready to take the plunge and confirm the third leg down, a LTC pump started and BTC followed soon, so I don't know which way...

The market has slowed down, and the Chinese established a critical support at 6100 CNY. If this will be broken, which could happen tomorrow, then the third leg down will be confirmed and A would end soon.

Support was broken just after I went to sleep, but so far it bounced, we'll see what happens during the next hours, will the drop continue or not?
There is another possibility, that we already completed A and now we are actually during the B... The initial dump was so fast that it compressed the waves and made counting difficult.

It looks like the market was moving faster than I calculated and already completed A and we are now in B, possibly already after the top of it.
If the B scenario will become true, I expect to go sideways for the next 4 - 7 days, and then correct 30%, to about 660$ on western exchanges.

hahahaha


That is like your third revision...

Which is fair enough... this market is moving a lot, and sometimes it takes a while to get a grasp on it.

I kind of think that we had three legs of a down already, 1st leg down to $920, second down to $880, third down to $812; however, we have not really had a second test of the support at $812, which may or may not take place, but if there is another test of lower $800s and we get past that, then it's pretty much up from there...

On the other hand if support does not hold in the lower $800s, then I agree that $600s could be in the possible cards (again, not inevitable, but becomes more likely).

I am a little torn about this whole thing about whether another test of bottom is likely, and i am thinking that it is a bit more likely than not - maybe 51% ... .. yet we do have quite a bit of ongoing decent buying pressure... and it is a bit of a irritation to hear how much press the Chinese news is getting... and causing some discrediting of the value of bitcoin, when it is just another nonsensical china banning bitcoin story that has little to no actual legs in terms of negative substance (just negative hype, which may be enough in bitcoinlandia).