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

[soullyG]

Bear trap over? 

[Torque]

today is the day i can feeeeel it

Still waiting for $860?

[Karpeles]

I lost a little less than 1%, but at least I could rest without looking to the price every 15 minutes or so fearing a huge drop because of the chinese new year or for whatever reason

I just hope this is not a mini bull trap before the fall

[LFC_Bitcoin]

I lost a little less than 1%, but at least I could rest without looking to the price every 15 minutes or so fearing a huge drop because of the chinese new year or for whatever reason

I just hope this is not a mini bull trap before the fall

I think we witnessed quite the opposite, the drop invited loads of bears to open shorts. They were reeled in like suckers. Now they're under water & will most likely drown in the next week.

[JayJuanGee]

I lost a little less than 1%, but at least I could rest without looking to the price every 15 minutes or so fearing a huge drop because of the chinese new year or for whatever reason

I just hope this is not a mini bull trap before the fall

You only lose if you sold and then you bought back higher price than you sold, no?

I know that quite a few people attempt to trade like that, which is that they sell as the price is going down, and then every once in a while, they will make a killing because the price actually does go down (to make up for the times that they lost), but to me, it does not seem to be a great long term strategy... because it is too much like gambling... or attempting to read tea leaves that are very deceptive.

I lost a little less than 1%, but at least I could rest without looking to the price every 15 minutes or so fearing a huge drop because of the chinese new year or for whatever reason

I just hope this is not a mini bull trap before the fall

I think we witnessed quite the opposite, the drop invited loads of bears to open shorts. They were reeled in like suckers. Now they're under water & will most likely drown in the next week.

I hope that you are correct about this.  A bounce to the mid to upper $900s would be a nice little refresher, but even better would be if we could crack $1k over the chinese new year weekend... Currently, I am thinking that $1k is going to be more difficult to break than it was one month ago when we kind of just sailed through it like hot butter.

[JimboToronto]

Good morning Bitcoinland.

Still bouncing around in the $880-$930 range, I see... currently $918USD (Bitcoinaverage).

Hold and wait.

[yefi]

of course if they use it only as a mean of transfer of value they would just dump it as soon as they receive, so would make no overall difference in the price, only effect would be some increase in volume

Transactions are not instantaneous, therefore coins are removed from supply during that interval, which will affect price. One might liken hodling to a super-slow transaction.

[starmman]

Good morning Bitcoinland.

Still bouncing around in the $880-$930 range, I see... currently $918USD (Bitcoinaverage).

Hold and wait.

Haha indeed - I'm playing around with altcoins to feed my trading addiction whilst waiting for BTC to heat up again =)

[Killerpotleaf]

today is the day i can feeeeel it

Still waiting for $860?

any minute now!
860 . DOOOOOOOOOOOOOOOOOOM
yup yup yup, this recent spike is just market being overconfident...

[Okurkabinladin]

What do you people make of this? Will it make Mexicans look for alternative ways for remittances?

http://money.cnn.com/2017/01/25/news/economy/mexico-remittances-trump/

It is quite possible that mexican currency will enter free fall as the better off try to get their money out of the country, that will be forced to devalue in order to stay competetive with newly erected protective measures of United States market - its number one bussiness partner.

Interesting times ahead of us.

[Killerpotleaf]

25billion dollars a year get sent to mexico

[600watt]

25billion dollars a year get sent to mexico

finally the name of this thread is starting to get a real meaning. 

[rjclarke2000]

25billion dollars a year get sent to mexico

finally the name of this thread is starting to get a real meaning. 

Ha ha ha!! Love this!

[willope]

It is the first time in two years that I really have no idea what to do.
The price should go down the next 1-2 months. Looking the 1w chart, or the order books, the result is the same: down. But it seems that the game is changing a lot with the new chinese exchange "self regulations".
And there is still a lot of buying pressure I don't know why. Maybe the halving effekt, or a lot of new bitcoiners, or that margin trading (=shorting bitcoin) largely has been killed.
So, I'm 90% long, but I want to short. But I don't want to lose my precious bitcoins, cuz I think, that maybe it'll go up! AAAAA 

[yugo23]

It is the first time in two years that I really have no idea what to do.
The price should go down the next 1-2 months. Looking the 1w chart, or the order books, the result is the same: down. But it seems that the game is changing a lot with the new chinese exchange "self regulations".
And there is still a lot of buying pressure I don't know why. Maybe the halving effekt, or a lot of new bitcoiners, or that margin trading (=shorting bitcoin) largely has been killed.
So, I'm 90% long, but I want to short. But I don't want to lose my precious bitcoins, cuz I think, that maybe it'll go up! AAAAA 

Then don't do anything ^^
At the end of the day trading is a lot like gambling.
The only difference is that if you're good odds are in your favor.
But if you got no clue about what's going to happen, best is still to not play.

[rjclarke2000]

It is the first time in two years that I really have no idea what to do.
The price should go down the next 1-2 months. Looking the 1w chart, or the order books, the result is the same: down. But it seems that the game is changing a lot with the new chinese exchange "self regulations".
And there is still a lot of buying pressure I don't know why. Maybe the halving effekt, or a lot of new bitcoiners, or that margin trading (=shorting bitcoin) largely has been killed.
So, I'm 90% long, but I want to short. But I don't want to lose my precious bitcoins, cuz I think, that maybe it'll go up! AAAAA 

Welcome to hodling. We are the less brave bunch.

[fortune143]

It is the first time in two years that I really have no idea what to do.
The price should go down the next 1-2 months. Looking the 1w chart, or the order books, the result is the same: down. But it seems that the game is changing a lot with the new chinese exchange "self regulations".
And there is still a lot of buying pressure I don't know why. Maybe the halving effekt, or a lot of new bitcoiners, or that margin trading (=shorting bitcoin) largely has been killed.
So, I'm 90% long, but I want to short. But I don't want to lose my precious bitcoins, cuz I think, that maybe it'll go up! AAAAA 

This just about sums up exactly where I am now - I've got fiat waiting on the sidelines and btc in equal measure, just don't know what to do except hodl.. 

[Riddikulo]

Love the recent price increase. Definitely interesting times ahead! I think we expected the rise, but not this quickly lol. Let's see where we'll end up once the dust settles.

[Killerpotleaf]

It is the first time in two years that I really have no idea what to do.
The price should go down the next 1-2 months. Looking the 1w chart, or the order books, the result is the same: down. But it seems that the game is changing a lot with the new chinese exchange "self regulations".
And there is still a lot of buying pressure I don't know why. Maybe the halving effekt, or a lot of new bitcoiners, or that margin trading (=shorting bitcoin) largely has been killed.
So, I'm 90% long, but I want to short. But I don't want to lose my precious bitcoins, cuz I think, that maybe it'll go up! AAAAA  

This just about sums up exactly where I am now - I've got fiat waiting on the sidelines and btc in equal measure, just don't know what to do except hodl..  

its always more of a gamble to bet on down then up. ALWAYS.

after all if things work out very well we're looking at: no amount of fiat will buy you any amount of BTC relatively soon (within 1 or 2 decades)

and if things work out badly we can blame core while we cash out at 12K

[Riddikulo]

Bitcoin holders are funny bunch — especially the old school ones. They want to see the glory days of 20x returns in a year (and the accompanying crashes!) — almost like a drug addict looking for one more hit. Those days are gone. We should be aiming for 2–3x gains every year for the next couple of years, and then those returns should be steadily declining over time, but always going up and to the right — the power of compound growth will ensure that we still get 20x returns, but over a longer period of time and in more sustainable fashion.