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

[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.

[Romanknickl]

It's confirmed, just watch the 5 min chart, the next red candle is on the way...
I am shorting btc.
gl guys

[Icygreen]

It's confirmed, just watch the 5 min chart, the next red candle is on the way...
I am shorting btc.
gl guys

Up it is. 

[YamashitaRen]

It's confirmed, just watch the 5 min chart, the next red candle is on the way...
I am shorting btc.
gl guys

Up it is. 

Down it is. 

Getting ready to be trolled

[JimboToronto]

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

I beg to differ. It had already corrected. I think today's dip can be directly attributed to news of China announcing a clampdown on exchanges.

This is a similar situation to last January when the natural correction after breaking $1k was immediately followed by The PBoC announcing an investigation of the exchanges, causing a panic. After a short recovery, the PBoc started visiting the exchanges and then froze btc withdrawals causing another panic.

This time the natural correction after passing $5k was immediately followed by the PBoC outlawing ICOs, causing a panic. After a short recovery, the news of yet another Chinese action against the exchanges caused another panic.

We all know what happened to the price after January's panic subsided. Didn't we learn that China's importance in Bitcoin was over-rated?

This too will pass.

[El duderino_]

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

I beg to differ. It had already corrected. I think today's dip can be directly attributed to news of China announcing a clampdown on exchanges.

This is a similar situation to last January when the natural correction after breaking $1k was immediately followed by The PBoC announcing an investigation of the exchanges, causing a panic. After a short recovery, the PBoc started visiting the exchanges and then froze btc withdrawals causing another panic.

This time the natural correction after passing $5k was immediately followed by the PBoC outlawing ICOs, causing a panic. After a short recovery, the news of yet another Chinese action against the exchanges caused another panic.

We all know what happened to the price after January's panic subsided. Didn't we learn that China's importance in Bitcoin was over-rated?

This too will pass.

so you think no bigger dive for this time ?? just bought few coins like 1 hour before the dip 

[Addressed]

What did i miss? From $4650 to $4300? That was real quick for a nap time. I dont see a news why that happen?
But everyone likes dip right?

[cashodler]

What did i miss? From $4650 to $4300? That was real quick for a nap time. I dont see a news why that happen?
But everyone likes dip right?

Possible China ban on bitcoin... would make sense after ICOs ban. They know there's a lot of money in it and want to regulate it. Expect much less than 4300 during the weekend. The news hasn't spread yet.

[becoin]

What did i miss? From $4650 to $4300? That was real quick for a nap time. I dont see a news why that happen?

Pre-dumping for the weekend pump.

[El duderino_]

What did i miss? From $4650 to $4300? That was real quick for a nap time. I dont see a news why that happen?

Pre-dumping for the weekend pump.

so we will be up in no time 

[itod]

The lead developers of bitcoin cash calls even calls himself "benevolent dictator".

Amaury SECHET
Bitcoin ABC Benevolent Dictator
https://www.linkedin.com/in/deadalnix

Wouldn't believe it, if you haven't posted a link. This is embarrassing.