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

[york780]

Bitcoin price rightnow :969,6969 EUR. Nice 

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[JimboToronto]

Good morning Bitcoinland.

Still going pretty much sideways with just the slightest upward creep... currently $1045USD (Bitcoinaverage).

We're working on our 5th consecutive green daily candle (Stamp) but it's ever so short.

At least the panicking has subsided for now but it might keep going sideways for a while longer until the altcoin fad runs its course and the money flows back into Bitcoin.

[kurious]

$1500 In Juni is doable?

$4000

Sir Isaac has spoken.   But not in Latin

[gembitz]

Good morning Bitcoinland.

Still going pretty much sideways with just the slightest upward creep... currently $1045USD (Bitcoinaverage).

We're working on our 5th consecutive green daily candle (Stamp) but it's ever so short.

At least the panicking has subsided for now but it might keep going sideways for a while longer until the altcoin fad runs its course and the money flows back into Bitcoin.

~sideways and consolidation >>> maybe June we will see a hike up towards $2000 again ;-)

[HI-TEC99]

Starting from what price point are moon picks appropriate again?

$1080 means that the bearish momentum is broken. $1225,34 means that we are going to test ATH again. It will take some more time tho.

I hope it takes some time. A technical analysis advice website warned to beware of sharp pumps upwards at this stage of a cup and handle. It said if the price stays relatively flat for a while it's more likely to result in a giant handle pumping the price really high. After all the FUD it will probably take a while before the majority get the confidence to start buying. That flat period should fit into a good handle formation.

[JayJuanGee]

Good morning Bitcoinland.

Still going pretty much sideways with just the slightest upward creep... currently $1045USD (Bitcoinaverage).

We're working on our 5th consecutive green daily candle (Stamp) but it's ever so short.

At least the panicking has subsided for now but it might keep going sideways for a while longer until the altcoin fad runs its course and the money flows back into Bitcoin.

Yeah.. I had been watching the daily candles pretty closely too in order to get a sense of our recovery from the correction to $900, but still pretty early to call today's candle, since there are still 8 more hours before it closes.

At this time, you are correct that the bitstamp candle is hovering around the turning point which is about $1043  and today's candle has to close above $1043 to be green.  In that regard, we had 2 out of the previous 4 candles as nail biters and 2 out of the 4 as clearly and unambigously green.

Even though we seem to be experiencing a decent amount of ongoing buying pressure at these prices, I would not be surprised either way about the direction of the closing of today's candle.

[dacueba]

$1500 In Juni is doable?

$4000

no more than $2000, still problems with block size and China

[Torque]

We still got a lot of year left.

I still predict ~$1600 by year end.  $4K by end of 2020.

[JayJuanGee]

We still got a lot of year left.

I still predict ~$1600 by year end.  $4K by end of 2020.  And there is no s-curve in bitcoin

hahahaha .. see above...

I added a little content to your statement to make it more accurate with your previous disclosed underlying views.   

[Jumanji7]

$1500 In Juni is doable?

I do not think so:

https://bitcoinmagazine.com/articles/bitcoin-unlimited-miners-may-be-preparing-51-attack-bitcoin/

[jofus]

$1500 In Juni is doable?

$4000

no more than $2000, still problems with block size and China

China problems don't matter anymore

[Torque]

We still got a lot of year left.

I still predict ~$1600 by year end.  $4K by end of 2020.  And there is no s-curve in bitcoin

hahahaha .. see above...

I added a little content to your statement to make it more accurate with your previous disclosed underlying views.  

Depends on what you call 's-curve adoption', or what the definition is, of this kind of disruptive technology.

For example, would you say that Bittorrent has gone through an 's-curve adoption'? This depends on who you ask.

Some would say that the growth model shows an 's-curve' and thus it has.

But then just go ask the Average Joe on the street if they have ever used Bittorrent, much less heard of it, and they would say 'no'.

So if getting every able Average Joe in the world to have access and to buy some bitcoin and spend it is 's-curve adoption', then we may perhaps never get there.

[jofus]

Even though we seem to be experiencing a decent amount of ongoing buying pressure at these prices, I would not be surprised either way about the direction of the closing of today's candle.

I wonder where all this buying pressure is coming from?  New people getting into Bitcoin, already Bitcoin enthusiasts that sold at the top and were waiting for sub 1100 prices, or something more nefarious?

[Karpeles]

Good morning Bitcoinland.

Still going pretty much sideways with just the slightest upward creep... currently $1045USD (Bitcoinaverage).

We're working on our 5th consecutive green daily candle (Stamp) but it's ever so short.

At least the panicking has subsided for now but it might keep going sideways for a while longer until the altcoin fad runs its course and the money flows back into Bitcoin.

Yeah.. I had been watching the daily candles pretty closely too in order to get a sense of our recovery from the correction to $900, but still pretty early to call today's candle, since there are still 8 more hours before it closes.

At this time, you are correct that the bitstamp candle is hovering around the turning point which is about $1043  and today's candle has to close above $1043 to be green.  In that regard, we had 2 out of the previous 4 candles as nail biters and 2 out of the 4 as clearly and unambigously green.

Even though we seem to be experiencing a decent amount of ongoing buying pressure at these prices, I would not be surprised either way about the direction of the closing of today's candle.

price now is 1021.08 on Bitstamp with no sign of a recovery for today. Looks like today will be the first daily candle clearly negative.

Wonder if this is a trend reversal or means more sideways

[JayJuanGee]

We still got a lot of year left.

I still predict ~$1600 by year end.  $4K by end of 2020.  And there is no s-curve in bitcoin

hahahaha .. see above...

I added a little content to your statement to make it more accurate with your previous disclosed underlying views.  

Depends on what you call 's-curve adoption', or what the definition is, of this kind of disruptive technology.

For example, would you say that Bittorrent has gone through an 's-curve adoption'? This depends on who you ask.

Some would say that the growth model shows an 's-curve' and thus it has.

But then just go ask the Average Joe on the street if they have ever used Bittorrent, much less heard of it, and they would say 'no'.

So if getting every able Average Joe in the world to have access and to buy some bitcoin and spend it is 's-curve adoption', then we may perhaps never get there.

I think that thou do protestest too much.


You seem to concede that there are a variety of ways in which we can consider s-curve adoption, yet at the same time assert that in order to have s-curve adoption, then we need to have some kind of pie in the sky "average joe" involvement in the whole matter.

The fact of the matter is fuck "average joe" - we do not need to aim for getting "average joe" in order to achieve significant and meaningful s-curve adoption.

You even concede in a previous post that bitcoin is somewhat confined to geeks, and we can agree on these kinds of underlying facts - and come to a conclusion that if bitcoin on boards even a fraction of "average joe" we are going to achieve considerable s-curve adoption.

So yeah, in the end, we agree that this s-curve adoption framework is matter of degree - yet in a large number of scenarios we still get to experience the s-curve adoption phenomenon - even if the whole world does not buy into it.... and a large number of bitcoin folks (probably even yourself, too) have recognized that just getting 1% of the worlds population into bitcoin would cause stupendous upside potential for bitcoin - and likely that kind of adoption would still rise to the level to be classified as significant and meaningful s-curve adoption.

[york780]

Who sold at the bottom? I saw this mini dip from a mile away. Switched some coins to ethereum. Old story; bitcoin drops , ethereum pumps. Switch back, now i have some more btc and dumped my centralized ethereum token.   I am glad this trick still works.

[Torque]

The fact of the matter is fuck "average joe" - we do not need to aim for getting "average joe" in order to achieve significant and meaningful s-curve adoption.

Well if you truly believe this, then your definition of 's-curve adoption' of Bitcoin is WAY narrower than most.

When I think of s-curve, I think of PC adoption. Or cell phone adoption. Or Facebook adoption. Which most certainly includes "Average Joe", which comprises like 80-90% of those adoption levels.

[principiamathematica]

$1500 In Juni is doable?

$4000

no more than $2000, still problems with block size and China

Nah, we've had problems with China and blocksize for years, still price went up, we are on the cusp of a massive price bubble.

[JayJuanGee]

Even though we seem to be experiencing a decent amount of ongoing buying pressure at these prices, I would not be surprised either way about the direction of the closing of today's candle.

I wonder where all this buying pressure is coming from?  New people getting into Bitcoin, already Bitcoin enthusiasts that sold at the top and were waiting for sub 1100 prices, or something more nefarious?

It is difficult to know exactly, so there are going to be a lot of theories about who are the buyers and who are the sellers.

Personally, I believe, for the most part, a large number of the buyers see through the hardfork FUD bullshit, and they recognize that bitcoin remains a very strong asset with great fundamentals that are not really going to be shaken up by either the hardfork FUD or even the survival of bitcoin if an actual hardfork were to take place by the renegade force.

[JayJuanGee]

Good morning Bitcoinland.

Still going pretty much sideways with just the slightest upward creep... currently $1045USD (Bitcoinaverage).

We're working on our 5th consecutive green daily candle (Stamp) but it's ever so short.

At least the panicking has subsided for now but it might keep going sideways for a while longer until the altcoin fad runs its course and the money flows back into Bitcoin.

Yeah.. I had been watching the daily candles pretty closely too in order to get a sense of our recovery from the correction to $900, but still pretty early to call today's candle, since there are still 8 more hours before it closes.

At this time, you are correct that the bitstamp candle is hovering around the turning point which is about $1043  and today's candle has to close above $1043 to be green.  In that regard, we had 2 out of the previous 4 candles as nail biters and 2 out of the 4 as clearly and unambigously green.

Even though we seem to be experiencing a decent amount of ongoing buying pressure at these prices, I would not be surprised either way about the direction of the closing of today's candle.

price now is 1021.08 on Bitstamp with no sign of a recovery for today. Looks like today will be the first daily candle clearly negative.

Wonder if this is a trend reversal or means more sideways

Careful about calling the candle too soon.

Look we have nearly 5 hours yet, and there is quite a bit of ongoing volume, so I wouldn't write off the bulls too soon in this daily candle battle.

And, being within 2-3% of the turning point of the candle can be achieved in a matter of 30 minutes, and sometimes less time is needed to accomplish such pumps (or dumps).