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

[CristiTCM]

wtf is going on?! i was expecting $5000 this weekend, not $4000!

[jojo69]

[x2666]

wtf is going on?! i was expecting $5000 this weekend, not $4000!

Will $3000 be to your liking? Everyone has been thirsting for cheap coins afterall.

[JimboToronto]

Well good morning Bitcoinland.

I've actually been awake for almost 2 hours but didn't post until now. I looked in just in time to see the dip start happening and immediately went to the 1 minute charts at Bitcoinwisdom to see that it clearly started in China.

I still didn't the dip, partially because I wanted to wait and see how deep it would go and partially because the prices at my local ATM barely dipped. While the USD exchange prices fell by over $450USD, my ATM price fell by less than $300CAD and the buy fee is still over 7%.

That wasn't enough of a dip for me to buy.

Now the panic seems to be receding and the price has bounced back up to $4387USD/$5322CAD (Bitcoinaverage).

Most of the altcoins are also down with AltcoinCash down to $592USD/$716CAD.

Of course this panic will be short-lived, just like last winter when the PBoC spooked the market before leading to one of the most productive years in Bitcoin's history.

Maybe it'll dip further but for now, I'll just play wait-and-see.

[YamashitaRen]

Talking about dips, I'm still an idiot.
Buying at 4233, selling at 4229...

[|Admiral|]

WTF!
I got up 2 Hours back and BTC was sailing @4600$ and now it is @ 4200$ , what's going on friends??

[Wekkel]

It is just time for a deeper correction, nothing more.

[TheRealProphet]

The ship is sinking, last chance to dump all your coins.

[podyx]

I have a feeling this will be a silk road dip actually

[Kraken-Septimus]

I sent € funding to Kraken, last weekend, nothing showing in my Balance... . Sigh

Hi Ludwig Von. If you haven't already, I would suggest opening a ticket here and escalating that ticket using this form posted by Dargo. Thanks!

[jojo69]

Talking about dips, I'm still an idiot.
Buying at 4233, selling at 4229...

Welcome to the club.  I am a...terrible...trader.  I should sell my services as a contrarian indicator.

Oddly, I seem to actually do pretty well with my calls ble-bla-ing on this board, but do I act on them in a timely and spirited manner?

[Icygreen]

Can't say I'm surprised by this dip. I suspected it wouldn't be another straight shot climb like the last one.  I'll be buying all the way down if we get below 4200.  5k and beyond soon enough. In fact, I'm more relieved if the price stays lower for awhile allowing better load ups.

[Ludwig Von]

I sent € funding to Kraken, last weekend, nothing showing in my Balance... . Sigh

Hi Ludwig Von. If you haven't already, I would suggest opening a ticket here and escalating that ticket using this form posted by Dargo. Thanks!

Hello Septimus, I opened a ticket yesterday. I received answer just a few minutes ago saying they received my funding but that processing was slowed because the reference was not there. But in the transaction I made to the German Fidor bank, the reference was there... .

Thanks

[Samarkand]

I can't link it here but BoAML have put out a research piece this morning that suggests Bitcoin is overvalued and that while it has potential it faces headwinds that are very significant. Talks a lot about the transaction volumes issue and ultimately ends up with a value to the chain of about $28.5bn or approx $1750 a coin.

Same paper also talks about some altcoins Generally in a positive way

EDIT: Quite clear that bits of the paper are quite old (BTC price reference is $2,350) and there are comments about the 1st August fork that are now factually incorrect.

This is just more proof that the analysts of these traditional banks have absolutely no clue with regards to
cryptocurrencies.

I strongly advise anyone to ignore these research papers at all costs - except, if you are interested in
them as a cheap source of entertainment.

edit: fixed proposition / spelling

[mgld]

Hi,

I am an absolute newby to this forum, this is my first post. On the other hand, I have been trading financial assets for quite some time.  

I expected today's BTC dip, whatever the supposed reason for it would come out to be (i.e. fake news from China) on the basis  of :

1. a simple analysis of trading volumes analyzed on various time frames

2. the application of Fibonacci retracement levels to the previous leg up

3. the application of Eliot's wave count to the previous leg up (impulse wave) and to the current leg down (correction wave)


Technical analysis is not science  and its various tools are not always churning out foolproof answers.  Some tools work better ( = more often and on more type of financial assets) than others, but even those can fail ( = give false signals).   In my experience,  Eliot and Fibonacci have the best predictive power because they are not based on averages of past datas but on eternal or, at least, recurrent human behavioural patterns.

This said,  I put out my 5 cents of wisdom to say that the market will find its way to correct lower  before it resumes its way up.  I have set a number of buying orders at decreasing price levels between 4000 and 3000 USD  so, to put my mouth where my money is, this is what I can recommend to others as well.

Good trades everybody !

[Wekkel]

I think that the chances for a deeper correction have increased considerably. Of course, adepts see this the right way: buy time (but first the drop).

[El duderino_]

so what do we think from here UP UP UP or doooooown   

[Meuh6879]

It's whale season

It's TAX season in Europe ...

[Romanknickl]

so what do we think from here UP UP UP or doooooown   

It will go below 4k USD in my opinion !!!!

You can get quick money with a short from now

best wishes

[Meuh6879]

Whats happening again Why a fucking fall of from €300 ....
This is not nice

It's friday.