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

[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.

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[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"

[gembitz]

^tl;dr we fixed the scaling problem for another couple years = 2MB nextttt :-D

[JimboToronto]

Wishful thinking... The sucker has sold out his miserable bitcoin stash and now dreams to buy back at lower level. Sorry fish.

They never seem to learn do they? You can tell when they're frustrated. They start using words like "bullcult" and "circlejerk" while directing questions toward other known bears/trolls, desperate for reinforcement of their erroneous conclusions.

Talk about a "bearcult circlejerk". LOL   

We are going to crash through ATH within 48 hours!

That's perhaps a little too optimistic. It might take a week or two. I don't see it going much under $1000 though.

[JayJuanGee]

^tl;dr we fixed the scaling problem for another couple years = 2MB nextttt :-D

Yeah.  You keep repeating this stupid, nonsensical and lame fantasy point.

Who is the "we"?   

and what is the supposed actual fix?

beyond your merely asserting it over and over in order to get attention with misinformation?

[gembitz]

Wishful thinking... The sucker has sold out his miserable bitcoin stash and now dreams to buy back at lower level. Sorry fish.

They never seem to learn do they? You can tell when they're frustrated. They start using words like "bullcult" and "circlejerk" while directing questions toward other known bears/trolls, desperate for reinforcement of their erroneous conclusions.

Talk about a "bearcult circlejerk". LOL   

We are going to crash through ATH within 48 hours!

That's perhaps a little too optimistic. It might take a week or two. I don't see it going much under $1000 though.

^yeah it will take a miracle to save the naked shorts now! :-D poor china

[gembitz]

^tl;dr we fixed the scaling problem for another couple years = 2MB nextttt :-D

Yeah.  You keep repeating this stupid, nonsensical and lame fantasy point.

Who is the "we"?   

and what is the supposed actual fix?

beyond your merely asserting it over and over in order to get attention with misinformation?

^the lightning network/core cartel are going to realize what we have done!? lol

[Torque]

Another test of the high 900s, then I believe we'll leave the triple digits for good this time.

[JayJuanGee]

^tl;dr we fixed the scaling problem for another couple years = 2MB nextttt :-D

Yeah.  You keep repeating this stupid, nonsensical and lame fantasy point.

Who is the "we"?  

and what is the supposed actual fix?

beyond your merely asserting it over and over in order to get attention with misinformation?

^the lightning network/core cartel are going to realize what we have done!? lol

Still aspirational gobbledygook stated as if it were facts.

I understand that there are various second layer solutions, including lightning network, that would likely be able to more easily build, once seg wit goes live - but we all should know by now that the support for segwit has not been growing.. and it seems to be somewhat flat at the moment - unless there is some kind of under ground support that is still working on getting it's shit together regarding signaling for segwit.

Concededly, we are a bit less than 3 months into the signaling for segwit period, so we have another 9 months or so before other considerations may need to be employed - if this one does not get activated in that time under currently proposed conditions.  

It does seem that activating seg wit would be very good and bullish for bitcoin, and probably much beyond a $2k scenario (even though nothing is guaranteed in bitcoinlandia)

[slap]

Wishful thinking... The sucker has sold out his miserable bitcoin stash and now dreams to buy back at lower level. Sorry fish.

They never seem to learn do they? You can tell when they're frustrated. They start using words like "bullcult" and "circlejerk" while directing questions toward other known bears/trolls, desperate for reinforcement of their erroneous conclusions.

Talk about a "bearcult circlejerk". LOL  

We are going to crash through ATH within 48 hours!

That's perhaps a little too optimistic. It might take a week or two. I don't see it going much under $1000 though.

I lolled actually. If you read (again) I said I am still holding. I'm not frustrated with price heading up. A down move would hurt though.
Just saying a revisit of 900 will do no harm to the obvious bulltrend. Healthy actually.

But I must say, when one writes something that doesnt sound like a moon-remark, one is burnt to tbe ground. Now, why is that?
I can agree with the view PoolMinor has somehow, does that make me a bear? So be it.
Good luck to all of you.