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

[jbreher]

That's some serious carnage. Gratifying to see most of the top shitcoins got hit worse than The One True Crypto^tm.

Wait - what? WTF is going on with Tether?

[1714021434]

1714021434

[jbreher]

Whale purge.

OK, I'll bite... what is the bottom graph showing? What's the X axis?

[leowonderful]

That's some serious carnage. Gratifying to see most of the top shitcoins got hit worse than The One True Crypto^tm.

Wait - what? WTF is going on with Tether?

That's what happens when whales dump everything and take profits. I'm not too bothered about the current drop, nice to see it's not just Bitcoin. Half those coins were pump and dump coins in the first place, and this was expected too. Hope they crash to the ground.

[STT]

Healthy correction ?        Current action has it basing off support and a possible uptrend and now it meets the downtrend of the fall, at least in dollars.  On huobi in CNY it looks a bit better rising outside a downward channel and with more even volume between the fall and rise now that looks ok.  The dollar exchanges have more work and volume probably required for a recovery, 2140 to beat but the main thing is to establish volume above 2000 I think

[BlindMayorBitcorn]

One single person/entity on Bitfinex has controlled the entire bitcoin market from $200 till now.  

Your provocative assertion would benefit from a listing of evidence and/or supporting rationale.

Something something Jews?

[ARTISTCOLONY]

https://i.imgflip.com/1ptqyc.jpg

 


weeeeeee

[luckygenough56]

resume drop soon

[ARTISTCOLONY]

resume drop soon

yobit ===> "Ddos, 20-50 mins. "

https://yobit.net/en/trade/BTC/USD

 

pfft

[practicaldreamer]

If you can call the tops - and the bottoms - then you are a better man than 99.9% on here.

For the rest of mankind cost averaging doesn't seem like a bad strategy to me.

You don't need to call tops or bottoms. If you did, you could have restocked at $155. It's more a case of aligning probabilities. I haven't bought for myself since $300 either, but I did have money allocated for a sub-$100 panic (which never materialized).

I guess a cost-averaging strategy isn't a bad idea for the other 99% however.

Yeah - look, I'm not wanting to start an argument here but your post doesn't make much sense. And, FWIW I bought at the same price point as yourself and the other guy.

You say that you are in the 1% that just "knows", on the balance of probabilities. Yet you state in your post that even though you had money set aside for sub $100, the price never went that low so your (potential) order wasn't met. You made the wrong call then, surely ?

How are probabilities arrived at in this market ? "Aligning probabilities" is a posh way of saying you are calling the top and the bottom.

Its my contention that you are unable to do so - and that, therefore, a cost averaging strategy, especially for those who might just be entering the bitcoin invetsment space and weren't fortunate enough to get in at a lower price point, might well be a very good strategy indeed.

That, or just buy and hold.

But don't try to second guess this market.

[conspirosphere.tk]

But don't try to second guess this market.

imho beyond brains it takes a fair amount of balls to be a contrarian and sell high (during an huge pump) and buy low (after an awful crash, or maybe during a long depression).
but it can be done, especially if you start playing with small chips.

[PoolMinor]

So a summary of your post should read "Expect the 'fan pattern' to complete below the previous CNY ATH of 8895."


Therefore we have quite a distance left to travel in price before completing said pattern. (~$1297)

Textbook propellor correction visible on the Bitcoin 1-Day and 3-Day charts.

Overheat fan activated to cool things down for a bit.

Perfection.

See earlier in the thread for full commentary on propellor fan-corrections:

Here and Here.

[CoinCube]

A nice article that I recommend to readers of this thread.

Bitcoin 'Crashes' To 1-Week Lows - The Difference Between Fear And Concern
http://www.zerohedge.com/news/2017-05-27/bitcoin-crashes-1-week-lows-difference-between-fear-and-concern

[CoinCube]

If you can call the tops - and the bottoms - then you are a better man than 99.9% on here.

For the rest of mankind cost averaging doesn't seem like a bad strategy to me.

The best strategy for most with BTC is to buy in with the maximum you feel comfortable investing and then hold until your personal predetermined sell thresholds arrive or something fundamentally changes altering the long term potential of the technology.

For those with insufficient liquid capital like me the second best strategy is to set a goal number of BTC you want to own and purchase them gradually and regularly every month.

I have been making small purchases every month since $256 and every BTC I have purchased is well in the green including the ones I bought yesterday.

If the price drops dramatically like it did yesterday I shrug my shoulders and make my monthly buy a few weeks early. Trying to trade with leverage is foolishly risky when one considers exchange risk. Trying to move in and out in response to market fluctuations is a zero sum game and should be considered only by professional traders.

[pfrtlpfmpf]

If you can call the tops - and the bottoms - then you are a better man than 99.9% on here.

For the rest of mankind cost averaging doesn't seem like a bad strategy to me.

The best strategy for most with BTC is to buy in with the maximum you feel comfortable investing and then hold until your personal predetermined sell thresholds arrive or something fundamentally changes altering the long term potential of the technology.

For those with insufficient liquid capital like me the second best strategy is to set a goal number of BTC you want to own and purchase them gradually and regularly every month.

I have been making small purchases every month since $256 and every BTC I have purchased is well in the green including the ones I bought yesterday.

If the price drops dramatically like it did yesterday I shrug my shoulders and make my monthly buy a few weeks early. Trying to trade with leverage is foolishly risky when one considers exchange risk. Trying to move in and out in response to market fluctuations is a zero sum game and should be considered only by professional traders.

Did the first thing, when i woke up. Now hoping, the asians will save my ass again !

[podyx]

Where did this dump come from?

[TrumpD]

What is  behind this latest crash? I am sure the reasons would  be pointed out soon enuf by the "ecperts. The reality is that a steep decline was always in the pipeline. Amazingly enough, bitcoin more than doubled since hitting a new all-time high a month ago, and although the long-term trend is far from being a question, especially given the roaring fundamental background, but there is undoubtedly more room for correction. Hang in there boys. Someone has to hold the bag sometime. No shame  in that.

[orpington]

Where did this dump come from?

This dump sure was a toilet-clogger

[rpietila]

I wish that we finish the week lower than the previous. Because 7 or more weekly greens is danger zone.

[yefi]

Yeah - look, I'm not wanting to start an argument here but your post doesn't make much sense. And, FWIW I bought at the same price point as yourself and the other guy.

You say that you are in the 1% that just "knows", on the balance of probabilities. Yet you state in your post that even though you had money set aside for sub $100, the price never went that low so your (potential) order wasn't met. You made the wrong call then, surely ?

How are probabilities arrived at in this market ? "Aligning probabilities" is a posh way of saying you are calling the top and the bottom.

Its my contention that you are unable to do so - and that, therefore, a cost averaging strategy, especially for those who might just be entering the bitcoin invetsment space and weren't fortunate enough to get in at a lower price point, might well be a very good strategy indeed.

That, or just buy and hold.

But don't try to second guess this market.

Probability means you don't know, but it doesn't mean that you're clueless either. There are probability clouds for electrons around an atom - cluster your bids around the areas of greater likelihood. Now obviously, if I have a model in my mind of adoption phases, I could be mistaken about the model, so readjustment is necessary based on chart analysis.

Was withholding funds for <$100 wrong? Only if you think that the bottom is some absolute number rather than ranges of possibilities. Have you considered that maybe it could only be 25% wrong, for example?

p.s. you probably haven't bought in at the same point as me.

[FractalUniverse]

perhaps a mini dump for whales to load up a bit lower.
maybe the way up higher is cleared now. lets see