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

[spooderman]

The next 2 days are critical. If there will be a successful pump, eventually leading to about 1050$ - 1100$, then this will be a EW one, and after months of sideways we'll see 2000$ or more.
If however the pump will fail, then we'll see a major correction, down to about 600$ and the possibility of a new bear market.

quoting because i doubt either of these scenarios.

my hunch is a smaller dump back into high 800s.

boom

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[Moria843]

It's great to be playing with the houses money. Something everyone should strive for. Spend more time on vacation and enjoy life, Don't worry; be happy.

[Wolf Rainer]

"Cryptocurrencies are here to stay given the history of booms and busts in fiat money and debt excesses. Bitcoin as the face of cryptocurrencies benefits from this chaos," Saxo Bank's global macro strategist, Kay Van Petersen, wrote. "Emerging market powers eager to move away from being tied to the monetary policy of the U.S. and the banking system as well as to adopt the block chain as a payment system prove willing adherents as they adjust to zero interest rates and the decrease in systematic risk."

[Moria843]

Well said.

[gembitz]

BTC is under attack! ===> http://bitcointicker.co/networkstats/

 

[Killerpotleaf]

support is strong as fuck.

[JayJuanGee]

It's great to be playing with the houses money. Something everyone should strive for. Spend more time on vacation and enjoy life, Don't worry; be happy.

Maybe? 

But maybe you do not have enough stake in bitcoin?

The answers to those questions depend upon when you bought.  For example, my BTC holdings is currently floating around 125% profits, but I could not imagine taking much of that out, especially the current state of bitcoin.  I do not know about a better investment (or where I would put the money to make me feel sufficiently comfortable).

Out of my BTC investment fund, I currently have about 94.5% in bitcoin and about 5.5% in cash, and I feel that I am still currently about 1% higher invested in bitcoin than my preference, but with so much ongoing upwards price pressures, I do not believe it to be too big of a deal to have merely 1% over allocation.

I'm thinking in my current situation and tentative planning, I will not quite be playing with house money until maybe my BTC holdings are in the 800% territory or something like that, but even then, I would still be considering that I would like to make sure that my money is sufficiently working and/or sufficiently diversified.... so yeah, Maybe if BTC prices were to shoot up to $3,500 or so, then maybe I could make a similar kind of claim regarding playing with house money, though I am still thinking that I would keep that cash in reserve - in case prices were to drop to $2k or lower, and then pick up some "cheap coins", no?

[DaRude]

Did we loose lose feed from Whoboi? Did China finally ban BTC?

Here you go. https://cryptowat.ch/huobi/btccny

thnx

the prices delay on that site thought...

You got a better source?

[PoolMinor]

Did we loose lose feed from Whoboi? Did China finally ban BTC?

Here you go. https://cryptowat.ch/huobi/btccny

thnx

the prices delay on that site thought...

You got a better source?

I am starting to think that Hoooobuoy is dunfer


http://bitcointicker.co/#

[jbreher]

y'all niggas don't even trade?

Mostly not.

what do y'all do when it drops?

I have generally found that selling at the bottom to be a poor trading strategy. But what the hell do I know? I mostly don't trade.

you gotta sell and find a new floor after a reasonable time.

Suit yourself. In a chaotic inscrutable market, the only consistent indicator being an 8-year bull run amounting to something like a 100,000-bagger, the only rational trade is to buy and hodl.

[bitebits]

you gotta sell and find a new floor after a reasonable time.

Suit yourself. In a chaotic inscrutable market, the only consistent indicator being an 8-year bull run amounting to something like a 100,000-bagger, the only rational trade is to buy and hodl.

Did you hold through all the bubbles you have witnessed? How do you cope with that? Is the fear of it going to Neptune without you higher than it going back to earth?

[Mahdi0]

y'all niggas don't even trade?

Mostly not.

what do y'all do when it drops?

I have generally found that selling at the bottom to be a poor trading strategy. But what the hell do I know? I mostly don't trade.

you gotta sell and find a new floor after a reasonable time.

Suit yourself. In a chaotic inscrutable market, the only consistent indicator being an 8-year bull run amounting to something like a 100,000-bagger, the only rational trade is to buy and hodl.

You're mostly right. Except there's money to be made during mad dips with the obligatory bounce back (or at the least increasing BTC count even if dollar value diminishes). But yes, day trading (without borrowing aka margin) and with .25% fees .... it's hard to consistently increase money value and BTC count.

[jbreher]

you gotta sell and find a new floor after a reasonable time.

Suit yourself. In a chaotic inscrutable market, the only consistent indicator being an 8-year bull run amounting to something like a 100,000-bagger, the only rational trade is to buy and hodl.

Did you hold through all the bubbles you have witnessed?

No. In the period before the late 2013 skyrocket, I engaged in some laddered day trading. It taught me a hard lesson. I made a moderate gain in both BTC and fiat while volatility was moderate. However, when the skyrocket came, I was left holding a bag of stinky fiat, with no hope of buying back in at anywhere near the price at which I sold.

How do you cope with that?

I don't understand the question.

Is the fear of it going to Neptune without you higher than it going back to earth?

'zackly.

[jbreher]

You're mostly right. Except there's money to be made during mad dips with the obligatory bounce back (or at the least increasing BTC count even if dollar value diminishes).

There's also money to be lost when the market moves faster than that for which you have prepared.

But yes, day trading (without borrowing aka margin) and with .25% fees .... it's hard to consistently increase money value and BTC count.

In BTC, I found it pretty easy. Until the moves got unpredictably violent. This is not the sedate stock market. This is Bitcoin. It do dat.

[JayJuanGee]

y'all niggas don't even trade?

Mostly not.

what do y'all do when it drops?

I have generally found that selling at the bottom to be a poor trading strategy. But what the hell do I know? I mostly don't trade.

you gotta sell and find a new floor after a reasonable time.

Suit yourself. In a chaotic inscrutable market, the only consistent indicator being an 8-year bull run amounting to something like a 100,000-bagger, the only rational trade is to buy and hodl.

You're mostly right. Except there's money to be made during mad dips with the obligatory bounce back (or at the least increasing BTC count even if dollar value diminishes). But yes, day trading (without borrowing aka margin) and with .25% fees .... it's hard to consistently increase money value and BTC count.

I agree with you about attempting to protect yourself from some of the price volatility, but I don't agree with the strategy that you seem to be suggesting, which is to sell when you see (or believe) that the price is going to go down - you are going to get screwed too many times if you attempt to time that and to figure that out.

The safer strategy is to sell on the way up and to buy on the way down, and part of the trick is figuring out increments and amounts in order that you neither run out of BTC to sell or money to buy with if the price tanks.

I have been employing such a strategy of buying on the way down and selling on the way up, and it seems to work pretty well.

A couple more things:  1) I don't think that it is a good idea to employ the selling part of the formula until you have figured out your accumulation targets and attempt to sufficiently accumulate before selling any BTC and 2) it is also a good idea to attempt to figure out various BTC/fiat ratios that you want to attempt to maintain and follow at certain price points.  Of course, you can have some flexibility, but you should also try to have a plan or an outline, too so that you can attempt to stay within certain predetermined parameters - which is especially important during very high volatility periods, when you don't wanna get nervous and deviate too much from your predetermined plan.

You're mostly right. Except there's money to be made during mad dips with the obligatory bounce back (or at the least increasing BTC count even if dollar value diminishes).

There's also money to be lost when the market moves faster than that for which you have prepared.

But yes, day trading (without borrowing aka margin) and with .25% fees .... it's hard to consistently increase money value and BTC count.

In BTC, I found it pretty easy. Until the moves got unpredictably violent. This is not the sedate stock market. This is Bitcoin. It do dat.

These are all important points also, and I agree completely with these points, and I have been tweaking my system more and more in order to hope to account for the potential of this outrageous growth situations - including selling only about 1% of my BTC holdings for any 10% rise in prices (something like that), and even though I do seem to be stacking a lot of fiat upon the rises, I have found that i am able to put that fiat to decent use, as well, and I think that such will also work even if the price goes up 5x within a month or so (even though there might be a bit of regret that I could have made more, but I still think that is a trade off that I am willing to accept based on my total investment). 

[molecular]

BTC is under attack! ===> http://bitcointicker.co/networkstats/

 

by a difficulty increase and people making transactions?

[JayJuanGee]

BTC is under attack! ===> http://bitcointicker.co/networkstats/

 

by a difficulty increase and people making transactions?

NO!!!

People like to make those kinds of organic growth assertions, and that makes little logical sense.

You don't get those kinds of spikes from mere transactions (and organic growth).  There is some kind of attack on the network - that is the most plausible explanation for such sudden and dramatic spikes (like 100x and sometimes more).

[600watt]

support is strong as fuck.

i agree. if you connect the local lows, there you have a nice ascending line. looking good. 

[DaRude]

BTC is under attack! ===> http://bitcointicker.co/networkstats/

 

by a difficulty increase and people making transactions?

Wait this looks normal to you? Going from 10k unconfirmed transactions to 65k in under 12hrs? Or you just trolling?
https://blockchain.info/charts/mempool-count?timespan=24h

[yrtrnc]

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