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

[yefi]

Technicals is nonsense. Especially in bitcoin. Technicals is how whales catch small fish that use technicals to trade.

In which case, technicals is not nonsense, as it informs behaviour.

[N12]

Blitz calling another bear market, dang.

This time he was right though  .

Nah, last time I was right. This time, we shall see.

[becoin]

Technicals is nonsense. Especially in bitcoin. Technicals is how whales catch small fish that use technicals to trade.

In which case, technicals is not nonsense, as it informs behaviour.

Corrected it for you.

[blade87]

I kinda took Blitz's advice here, and glad I did. 24 hr volume has fallen to 50% of what it was a few days ago. Failure to break 2750 with any real momentum. Then it flattened sideways at 2700 (always a sign for a sudden move). Technicals signaling a retest of previous levels.

The low volume made the market feel exhausted to me. Bull sitting comfortably, but a lack of new buyers. And if ETH doesn't hold $300, it's going to start a domino effect and it will get very ugly in the altcoin market.

If we do enter a new bear market, it won't be a very long one. This blip we've had off the long-term trend is comparable to the one in 2012. So we'd be looking at a 4-6 month long bear market tops, with the lowest lows well above the previous ATH of $1200, imo.

[becoin]

I kinda took Blitz's advice here, and glad I did. 24 hr volume has fallen to 50% of what it was a few days ago. Failure to break 2750 with any real momentum. Then it flattened sideways at 2700 (always a sign for a sudden move). Technicals signaling a retest of previous levels.

The low volume made the market feel exhausted to me. And if ETH doesn't hold $300, it's going to start a domino effect and it will get very ugly in the altcoin market.

Bitcoin doesn't care about altcoin market.

[r0ach]

The low volume made the market feel exhausted to me. And if ETH doesn't hold $300, it's going to start a domino effect and it will get very ugly in the altcoin market.

Please, so many shills pretending the fate of BTC and ETH are tied together.  Complete nonsense.  Eth is a scam that was launched as a proof of stake coin without them solving ANY of the problems that make proof of stake not viable.  It was always doomed to fail.  Eth was like launching the Titanic with a hole already in it.  I think all cryptocurrency will eventually die since none of it is actually decentralized and that's what it's value is supposed to be based on, but bitcoin will probably be able to fool people longer than Eth.

[N12]

I kinda took Blitz's advice here, and glad I did. 24 hr volume has fallen to 50% of what it was a few days ago. Failure to break 2750 with any real momentum. Then it flattened sideways at 2700 (always a sign for a sudden move). Technicals signaling a retest of previous levels.

The low volume made the market feel exhausted to me. And if ETH doesn't hold $300, it's going to start a domino effect and it will get very ugly in the altcoin market.

I agree, it's wise to watch Ethereum because I believe it to be the biggest bubble of all. And I think everything in the crypto world will move down together, but Bitcoin will fall less than others and regain its dominance during the bear market.

[JayJuanGee]

Blitz calling another bear market, dang.

This time he was right though  .

Of course!!!!

If odds are 60/40, then you look like a genius when the 40 plays out to be 100, that is in retrospect vision is 20/20.

[N12]

Blitz calling another bear market, dang.

This time he was right though  .

Of course!!!!

If odds are 60/40, then you look like a genius when the 40 plays out to be 100, that is in retrospect vision is 20/20.

Yeah, it's not like human behaviour naturally forms speculative patterns that can be read via technical analysis to identify high probability turns.

[Denker]

Blitz calling another bear market, dang.

This time he was right though  .

We are not in a bear market! Maybe you should check the definition of what a bear market ist.
Jesus Christ! Some people...
Check the long term chart and you will see we're doing good!
Extremely good so far. And the support is concrete even if we build lower highs at the moment.

[becoin]

Bear bitcoin market is wishful thinking. There won't be any bear market. Too many people are waiting to buy their first bitcoin. Mainstream adoption has just started couple of months ago. Avalanche can't be stopped at this stage.

[N12]

Bear bitcoin market is wishful thinking. There won't be any bear market. Too many people are waiting to buy their first bitcoin. Mainstream adoption has just started couple of months ago. Avalanche can't be stopped at this stage.

Your account was registered in 2011, same as mine. Did you buy the account from its former owner? Because people said the exact same thing in 2013, back when people actually thought that retail adoption would start. Why would it be less of a possibility now?

[r0ach]

Consumer adoption imminent at 3 TPS !

[becoin]

Bear bitcoin market is wishful thinking. There won't be any bear market. Too many people are waiting to buy their first bitcoin. Mainstream adoption has just started couple of months ago. Avalanche can't be stopped at this stage.

Your account was registered in 2011, same as mine. Did you buy the account from its former owner? Because people said the exact same thing in 2013, back when people actually thought that retail adoption would start. Why would it be less of a possibility now?

Because it is very difficult to hack bitcoin businesses and sell the stolen coins to suppress price now.

[becoin]

Consumer adoption imminent at 3 TPS !

How many TPS do we have in gold coins?

[N12]

Bear bitcoin market is wishful thinking. There won't be any bear market. Too many people are waiting to buy their first bitcoin. Mainstream adoption has just started couple of months ago. Avalanche can't be stopped at this stage.

Your account was registered in 2011, same as mine. Did you buy the account from its former owner? Because people said the exact same thing in 2013, back when people actually thought that retail adoption would start. Why would it be less of a possibility now?

Because it is very difficult to hack bitcoin businesses and sell the stolen coins to suppress price now.

There was no hack that caused the 2013 bubble to pop in December.

[sosasnois]

If we go above 2690 , bull market will continue I'd say

[European Central Bank]

one day the masses will be as interested in an old school bitcoiner's opinion as they are about an atari fan talking about gta v.

things move on and it might be unwise to attribute previous behavior to current behavior. human nature stays fundamentally the same but the number of humans and their options and beliefs changes things with every cycle.

[ft73]

About time to resume down move, imho ...

[Dabs]

I've been spending bitcoin every month. I've actually not had to buy in a few months, I'm always selling. (But then, I'm making moar btc from all these crazy icos.)