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

[JayJuanGee]

anyone else a bit baffled by this rally? seems to have just come out of nowhere

It's not that baffling if you think about it in context.

I am not asserting that I know what the fuck is going on or what is going to happen, but the context remains somewhat understandable.

From late 2013 to mid 2015, we had a bear market (however, we likely did not realize that we had a bear market until about late 2014) - just like we did not realize that we were out of the bear market until about early 2016..and that we were in a bull market... so yeah, the bull market started in late 2015, and it brought us to $1139... with a correction down to $750... (almost 35% correction), and then we are in the midst of returning to potentially challenge the resistance at the ATH.. maybe we will get back there in a week or two, or it could take us a few months...

but the essence of this price movement is not really baffling... if you think about the context of it... Am I missing something?

[JayJuanGee]

You are just making up shit.. for what purpose?  
...
still, that is a kind of artificial creation that you seem to be making in order to spread a kind of FUD... ...  

Finally, I do understand ... but it still remains a bit of a silly point to me...

I understand your point, but What a silly one, no?   

I guess that I am saying your strategy and even your question is dumb ... because it is a dumb strategy...

you do not quite understand ... you are just asking to be a pain in the ass ... and also a bit stubborn

no one else constantly reacts like that to my posts. he definitely is a winner.

As I recall, you did not attempt to correct my assessment, to clarify in such a way to suggest that my tone was too harsh, or that I may not have backed up what i said, or something like that...

In other words, you seem to be getting emotional about silly and unimportant non substantive things, rather than attempting to address the actual substance of what I had been pointing out....

[talkbitcoin]

I love 4 digits.
Gentleman   

i loved 3 digits a lot more because in my five year plan i could have bought a lot more as long as it stayed 3 digits but we all make sacrifices.

[gembitz]

I love 4 digits.
Gentleman   

i loved 3 digits a lot more because in my five year plan i could have bought a lot more as long as it stayed 3 digits but we all make sacrifices.

$1OOO support looks good ~ hopefully we see $1200 x $1500 as to reflect the street price in India ! :-D

[silverfuture]

Goodbye 1100, hello 700.   

[Wolf Rainer]

Goodbye 1100, hello 700.   

You are Hero Member and you know the cycles of bitcoin market movement, in the weekends the banks are closed thats why the volume goes down and a little price correction was expected. Anyway this dont cancel the upward trend.

[slap]

40$ down in one day... Moon will come, but now aint the time yet.

[600watt]

crypto is dead.   

[swogerino]

How did you come to that conclusion?
It did not go below $1000 once yesterday and into today. Lowest I have seen it was $1009 and then it went back up to $1036 just as it was went I left it 17 hours ago.
So where was this $40 drop in one day that you are insinuating that happened?
Inquiring minds would like to know.

[slap]

Bitstamp 30m, high 1044.2 low 1004.7
Agreed, its only 39.5 usd
Yes, we're up again, still a flesh wound.

[HI-TEC99]

40$ down in one day... Moon will come, but now aint the time yet.

Bullshit, there was no $40 drop.

Bitstamp $1040 high, $1008 low. It's now $1017.

[Ted E. Bare]

1000 Is the new bottom, love it.

[d5000]

but the essence of this price movement is not really baffling... if you think about the context of it... Am I missing something?

The problem is that fundamentals are weak at this moment. There is no mass adoption story in sight because the scalability problem seems far away from a real solution.

For the short term, I think bulls will do another try to break the ATH, because in the last bearish dump attempt $1000 essentially hold. But I see no real chance at the moment to break the ATH. The most likely outcome is that the rally breaks somewhere in the low 1100s and we crash again in the 9xx area - a classic double top in the making, although to confirm it we would have to go as low as $135 .. scary, but not impossible if there is no miner/developer agreement in the scalability discussion.

[Gyrsur]

let's finish the week with a Double Top. 

http://www.investopedia.com/university/charts/charts4.asp

[becoin]

So where was this $40 drop in one day that you are insinuating that happened?

Wishful thinking... The sucker has sold out his miserable bitcoin stash and now dreams to buy back at lower level. Sorry fish... We are going to crash through ATH within 48 hours!

[European Central Bank]

although to confirm it we would have to go as low as $135/

it needs to crash to nearly 1/10th of its value to confirm a double top? man, you like your movements spelled out in bold strokes.

[slap]

Carefull with stating a double top, before you know it you are abandoned from the bullcult and smashed with a bullshit gif. Better circlejerk and scream moohoon all the time. Much safer in here.

PoolMinor, temp top @1050 or 1100, whats ur call?

[slap]

So where was this $40 drop in one day that you are insinuating that happened?

Wishful thinking... The sucker has sold out his miserable bitcoin stash and now dreams to buy back at lower level. Sorry fish... We are going to crash through ATH within 48 hours!

Yeah, I know, it dropped slowly this day with 32$, instead of 40. I guess I suck eh... pff
Quoting you to smack you in the face with it in 48hrs.
Still holding, but thinking of trying to sell for short term. Is that a crime. It will not go to the moon with one shot.
My guess it will refuel around 900.

[JimboToronto]

Lawl. Good morning Bitcoinland.

I see we have another one of those days... a tiny retrace back to where we started yesterday... currently $1024USD (Bitcoinaverage)... and some people are braying about going to $900 or even $700.

Just wishful thinking by fools who sold, I guess. 



Still in quadruple digits, from what I see. Seems like support is at that level. Sorry bears, looks like you missed out again.
_______

When I first checked the price this AM it was at exactly $1337CAD. Ain't Bitcoin wonderful?

[JayJuanGee]

but the essence of this price movement is not really baffling... if you think about the context of it... Am I missing something?

The problem is that fundamentals are weak at this moment. There is no mass adoption story in sight because the scalability problem seems far away from a real solution.

For the short term, I think bulls will do another try to break the ATH, because in the last bearish dump attempt $1000 essentially hold. But I see no real chance at the moment to break the ATH. The most likely outcome is that the rally breaks somewhere in the low 1100s and we crash again in the 9xx area - a classic double top in the making, although to confirm it we would have to go as low as $135 .. scary, but not impossible if there is no miner/developer agreement in the scalability discussion.

Wow.. you are putting a lot of emphasis as scaling as a fundamental's problem.

If you think about the matter, your supposed "scaling problem" has been quite extensively vocalized ongoingly since late 2015, and if you recall bitcoin's price was approximately in the mid-$200s at that time.  I would not call the supposed "scaling problem" to be any worse since then, but like you acknowledge the price has already been close to the ATH within the past month-ish and has a decent chance of getting close to testing it again in coming days or weeks.

So your pessimistic prognosis does not even seem to be very well supported by actual facts, context and history.  Furthermore describing another test (possibly failed test) of resistance in the mid $1100s as a double top comes off more as wishful thinking rather than any kind of true technical chart analysis.

I will point out that I would not be surprised with another meaningful (more than 15%) correction that would happen anywhere between $1050 and $1180 .. and even correcting from there into the $900s or below, yet you even seem to concede (by your seemingly stupid ass suggestion of $135) that those kinds of corrections would not be enough to get us out of our current and ongoing bull trend.  

By the way, I am not suggesting that $135 is not a possible price, but such low prices would need some kind of real and material major event, probably even greater than an exchange hacking or maybe a forced hardfork could cause something in that territory?.. more realistic bear scenarios would probably have considerable difficulties bringing prices below $600 - and even then we would likely need some considerable combination of FUD and/or changes in the fundamentals beyond your stupid ass vapor fantasy suggestion of a supposed "scaling problem"