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

[ragnar0k]

right now, hold. Wait for the bull trap rise before considering any sells.

Maybe we passed the bull trap?
I am thinking between 5th Sep and 9th Sep

[ft73]

In the news:

China Internet Finance Association: Bitcoin Exchanges Lack 'Legal Foundation'
https://www.coindesk.com/china-internet-finance-association-bitcoin-exchanges-lack-legal-foundation/

China's internet finance body urges members not to deal in cryptocurrencies
https://www.reuters.com/article/us-china-bitcoin/chinas-internet-finance-body-urges-members-not-to-deal-in-cryptocurrencies-idUSKCN1BO23E

“We urge all our members to exercise self-regulation and strictly abide by laws by not participating in any centralized trading or provide services for this type of trading,” the National Internet Finance Association of China said in a notice on its website www.nifa.org.cn

So bottom line would be "self regulation" ?
No more than a slap in the face, so far.

MOVED HERE:
https://bitcointalk.org/index.php?topic=2174244.0

[fragout]

In the news:

China Internet Finance Association: Bitcoin Exchanges Lack 'Legal Foundation'
https://www.coindesk.com/china-internet-finance-association-bitcoin-exchanges-lack-legal-foundation/

China's internet finance body urges members not to deal in cryptocurrencies
https://www.reuters.com/article/us-china-bitcoin/chinas-internet-finance-body-urges-members-not-to-deal-in-cryptocurrencies-idUSKCN1BO23E

“We urge all our members to exercise self-regulation and strictly abide by laws by not participating in any centralized trading or provide services for this type of trading,” the National Internet Finance Association of China said in a notice on its website www.nifa.org.cn

So bottom line would be "self regulation" ?
No more than a slap in the face, so far.

Hmm "strictly abide by laws by not participating in any centralized trading or provide services for this type of trading"
Seems to me as - close down on your own accord OR else

[vipgelsi]

Everyone keeps saying bitcoin is a bubble but its outside forces that are hurting the price. Fake news at its strongest.

[JayJuanGee]

...I still am not going to give a whole hell-of-a lot of weight to how much emphasis you seem to be giving to lines on a chart.

Remember that "lines on a chart" are formed by traders, the most influential of which read charts. So it's a feedback loop which is why they have such an effect.

People who buy on fundamentals to long term invest are not usually daytrading so they only have a momentary effect on the market. Otherwise, the price is driven by the small amount of coin supply that sits on exchanges and gets traded (according to chart interpretations).

That's why they can be a mathematical "inevitability". If there's a significant crossover then traders sell - because they know that every other seasoned daytrader is reading that same signal and acting upon it. Doesn't matter about fundamentals because they get priced in long term.

Fair enough.

We each said our part, and surely the readings of some predictors, based on charts is better than others - and I have also seen historically that we have seen a lot of these kinds of predictions coming through this thread that have been wrong, too.

I am not changing my buy orders too much because I continue to perceive that we could have a reversal at any time.

[becoin]

Bear trap is slowly closing. Many thanks for the cheap coins!

[JayJuanGee]

I am not really worried but actually annoyed ...

The 5000 USD was within reach and now we are going slowly down and even crashed through the 4000 USD mark I didn't think would happen.

Every time we slowly move up again apparently some whale dumps because we then get one big red candle. This is going on for weeks now.

I think that it is way too fucking early to be panicking like that and making statements of frustration.

We have 5 weeks of green candles followed by one week of a red candle.  We are currently in the midst of a red weekly candle, o.k... so fucking what?  corrections happen, right?

Surely too early to figure out whether this week's candle is going to close as red or green - because it appears that the changing point is around $4250... This week's candle could close either red or green... both are within reach... seems to me.

Am I pie in the sky about a possible green candle for this week?  I doubt it, and even if this week is red, so fucking what, there could thereafter be decent chances for next week's candle to be green, no?  And, even if this week's candle and next week's candle is red, so fucking what (again)?   

I think that you are overstating the case - in your assertion "going on for weeks now?"  not even an accurate account of what has been "going on", seems to me.

[Meuh6879]

shitcoins move up ... now.



Bitcoin will follow.

[becoin]

shitcoins move up ... now.
Bitcoin will follow.

No. It is always Bitcoin that moves first. Then shitcoins follow. Their move is sharper as their market is thinner giving wrong impression that they move first.

[gembitz]

Bear trap is slowly closing. Many thanks for the cheap coins!

even Gavin admits more attention to store of value $1OO,OOO BTCerkshire your majesty

[jojo69]

here's the bull trap

[gembitz]

shitcoins move up ... now.



Bitcoin will follow.

EMC2 strange grassroots movement occuring on radarzzz #occupy:btc&emc2

[becoin]

here's the bull trap

We shall see that trap closing at $10k before healthy correction to $5k.

[savetherainforest]

Personally I am still bored AF  

Bored? Put your life savings into Doge

Nah - I am bored- unimpressed ,but not suicidal

Have some fun with some ICO's.

[JayJuanGee]

Had to sell a bit to cover Q3 taxes and equipment. I hate selling on a dip, drat....

A sign of being overly invested.. in other words, you do not have your expenses projected out on a long enough timeline in order to provide you a large enough float.. whether that float needs to be $1k or $10k or $20k is something for you to determine ( but seems like you don't quite have it down, yet). 

I tend to project my expenses out a minimum of 6 months and frequently into the 18months or more timeline... so a lillie dip like this (and only for about 2 weeks) has not been going on long enough to cause anything close to cash flow pressures - Sure, if it goes on for 6 months or it goes down another 50%, then that could be another story for me, and I would want to start adjusting now for what could happen 6 months from now so I am not selling at the bottom, if that were the case.

[_javi_]

Personally I am still bored AF  

Bored? Put your life savings into Doge

Nah - I am bored- unimpressed ,but not suicidal

Have some fun with some ICO's.

Still mad about Doge, Bren? it´s a recurring subject for you !!

chau!!

[empowering]

Personally I am still bored AF  

Bored? Put your life savings into Doge

Nah - I am bored- unimpressed ,but not suicidal

Have some fun with some ICO's.

i am having fun now

(Had  some serious ICO fun too gotta be said )

[Punisher1314]

Rebound at the following fibo support after the last ATH correction. It's a classic.
Now let's see if the uptrend continues. Breaking the 4k spot again in the few next hours would be good news.

[ShroomsKit_Disgrace]

Rebound at the following fibo support after the last ATH correction. It's a classic.
Now let's see if the uptrend continues. Breaking the 4k spot again in the few next hours would be good news.

Where is the next fibo line up? Bottoming from 3750usd must put us to...around 4100usd with this rebound? or am I being too optimistic?

[Asrael999]

The only thing I hate about when bankers like Dimon start calling the death of Bitcoin is that I have to spend the day listening to all the lovely people I work with tell me what an idiot I am for owning bitcoin. Never mind that I first bought in June 2013