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

[JayJuanGee]

Head & shoulder coming? Should we brace? (2h)

Yeah, wishing #1

That's two shorts I miss, I wouldn't be surprised if this one will happen when I'll be asleep.

Yeah.... wishing #2

[ragnar0k]

Not wishing at all... I am looking forward for the leg up actually
Is just that in the 2h chart I see a big motherfu**ing head and shoulder. I hope it gets out of there...Although maybe a good final fall is what we need right now

[Icygreen]

So I mentioned the other day that Morgan Freeman is an excellent person, and I'm not quite ready to take that back yet. But. Well...

https://www.youtube.com/watch?v=ld0VA7Zzfz4

Wow, can't even trust good ol' Morgan Freeman anymore. His eyes says he doesn't believe what he's saying IMHO.

I cancelled my Trezor order when the hack was exposed to relinquish private keys and balances.  Mostly because I travel a lot and I intend to carry a unit with me. If airport TSA or customs can access keys on the device, I no longer see the use in it.   May prove to be true with other devices later but I ordered the Ledger nano s.  Ships in October, ordered in early August = Bullish!

[JayJuanGee]

Not wishing at all... I am looking forward for the leg up actually
Is just that in the 2h chart I see a big motherfu**ing head and shoulder. I hope it gets out of there...Although maybe a good final fall is what we need right now

If you put so much credence on technical analysis - for example head and shoulders, then does that cause you to make some adjustments to your strategy - for example buy less, wait, sell a little more, wait?

I will tell you my own BTC portfolio, and that is currently, I am about 94% bitcoin and 6% fiat, so I am feeling a tiny bit overallocated in bitcoin, but that overallocation came, in part from our two downwards corrections of the past couple of weeks.

Surely, I would feel a little bit stressed if prices dip below $2500, or something like that, and then I will say that I should have sold more at $3750 - but it is not my practice to sell in the middle of these kinds of matters or if it seems that we are going down because I only sell as we are going up and buy as we are going down, but in increments - so I don't want to fuck things up by doing the opposite that I am supposed to do, unless it is really clear to me.. and it is almost never clear.. so I feel better just sticking with my system.. and not trying to put too much weight into assertions that are relying on TA.. but really may or may not happen... maybe there is a 60% or a 70% chance that some kind of down will happen.. but that seems way too fucking risky for me to sell another 1% or .5% of my coin, and screw up my system and it ends up that sticking to the original system is working just fine... so if the price goes down I will buy and if it goes up I will sell... maybe I will add a little bit here or there, but does not really seem that clear in order to make any actual meaningful changes to a system that already works well.

[BitcoinNewsMagazine]

So I mentioned the other day that Morgan Freeman is an excellent person, and I'm not quite ready to take that back yet. But. Well...

https://www.youtube.com/watch?v=ld0VA7Zzfz4

Wow, can't even trust good ol' Morgan Freeman anymore. His eyes says he doesn't believe what he's saying IMHO.

I cancelled my Trezor order when the hack was exposed to relinquish private keys and balances.  Mostly because I travel a lot and I intend to carry a unit with me. If airport TSA or customs can access keys on the device, I no longer see the use in it.   May prove to be true with other devices later but I ordered the Ledger nano s.  Ships in October, ordered in early August = Bullish!

Trezor fixed the physical memory access hack in the 1.5.2 firmware update, even for Trezors with an older bootloader. Stop spreading FUD.

[Ibian]

So I mentioned the other day that Morgan Freeman is an excellent person, and I'm not quite ready to take that back yet. But. Well...

https://www.youtube.com/watch?v=ld0VA7Zzfz4

Wow, can't even trust good ol' Morgan Freeman anymore. His eyes says he doesn't believe what he's saying IMHO.

I cancelled my Trezor order when the hack was exposed to relinquish private keys and balances.  Mostly because I travel a lot and I intend to carry a unit with me. If airport TSA or customs can access keys on the device, I no longer see the use in it.   May prove to be true with other devices later but I ordered the Ledger nano s.  Ships in October, ordered in early August = Bullish!

Trezor fixed the physical memory access hack in the 1.5.2 firmware update, even for Trezors with an older bootloader. Stop spreading FUD.

Paper wallets ftw anyway. Probably should split my big wallets into smaller ones at some point...

[ragnar0k]

so if the price goes down I will buy and if it goes up I will sell... maybe I will add a little bit here or there, but does not really seem that clear in order to make any actual meaningful changes to a system that already works well.

I hear you, and usually I do the same... Though this right shoulder makes me greedy XD
I also agree TA is a bit like reading horoscope, let's se what happens, just wanted to hear some opinions (after all this thread is for price tracking )

[criptix]

So I mentioned the other day that Morgan Freeman is an excellent person, and I'm not quite ready to take that back yet. But. Well...

https://www.youtube.com/watch?v=ld0VA7Zzfz4

He will read whatever you put in front of him, but that was just awful  

Heading towards $4000 once again?

I don't think so we need to see $3000 ever again... in our lives.

Its time for bitcoin and top-most altcoins to recover, like XMR/ETC/ETH/etc.

I think 3k has a chance to happen still, once it tops 6k then 3k won't happen

[profitgenerator212]

I second that. BitCoin isn't like 'other' markets.

I can tell you from my experience ...

And I can tell you from experience that whatever you think you know about some canonical market is absolutely inapplicable here.

That is nonsense , of course each market is different, but the principle of mean reversion always applies, especially to currencies.

It's a random walk with some biases that persist which can be used to predict the x+1 datapoint if you were a HFT trader, or even go into the orderbook and play with the tick data. There are plenty of quant tools available to play with that.

In my opinion the bull market is over. And it makes sense fundamentally too. This Chinese ban thing is getting hot and it will have big ramifications in the near future.

You are wrong. Quote this for future reference; bitcoin at a price of $3600 is a good buy.

Sure do that. It's fun to argue with sheeps who go with the flock but money is not made that way.

[profitgenerator212]

Look kid, I have 10+ years of tradin experience, made good money over the years.
I know the market, and this is going down.
By the way it already went down and it will probably continue to go down despite your irrational exuberance, and the countless shills on this thread trying to talk it up. It doesn't work.

Cool story, bro.

Bitcorn doesn't give a shit about your 10+ years of tradin' experience.

Neither it does about yours, especially if your analysis is just drawing a few lines on the chart.

I can always tell which way those with "a lot of trading experience" believe the price of bitcoin will go.

They have all of that experience, they are so great with the market that they failed to see the potential value of Bitcoin and how it would jump to thousands of dollars each.

Even now they don't get it and all of their "experience" still tells them it is worthless, so obviously the price will go to zero. So they can get back to their stocks and bonds.

I didn;t know about Bitcoin in 2009, but I would guarantee you that I would have invested minimum 2500 EUR into BTC if I had known about it. I was always amazed by internet stuff, seeing Youtube, Google and FB grow suggested to me that any cryptocurrency would immediately have huge value.

So I have pretty good insights compared to other "experienced" traders.

Besides I wasn't in stocks or bonds, I was in real estate and agro land.

[BlindMayorBitcorn]

So I mentioned the other day that Morgan Freeman is an excellent person, and I'm not quite ready to take that back yet. But. Well...

https://www.youtube.com/watch?v=ld0VA7Zzfz4

Wow, can't even trust good ol' Morgan Freeman anymore. His eyes says he doesn't believe what he's saying IMHO.

I cancelled my Trezor order when the hack was exposed to relinquish private keys and balances.  Mostly because I travel a lot and I intend to carry a unit with me. If airport TSA or customs can access keys on the device, I no longer see the use in it.   May prove to be true with other devices later but I ordered the Ledger nano s.  Ships in October, ordered in early August = Bullish!

Trezor fixed the physical memory access hack in the 1.5.2 firmware update, even for Trezors with an older bootloader. Stop spreading FUD.

If someone has access to your hardware wallet best to assume it can be compromised.

[JayJuanGee]

so if the price goes down I will buy and if it goes up I will sell... maybe I will add a little bit here or there, but does not really seem that clear in order to make any actual meaningful changes to a system that already works well.

I hear you, and usually I do the same... Though this right shoulder makes me greedy XD
I also agree TA is a bit like reading horoscope, let's se what happens, just wanted to hear some opinions (after all this thread is for price tracking )

No problem.  I like to hear varying perspectives too.  I only start to get a bit grumpy when I see some of the varying perspectives framed as absolutes, especially when they happen to be bearish perspectives...

For some reason I am a bit more tolerant of bullish predictions that are framed as absolutes, such as: too the moon... or we are going up, etc etc..   Go figure!

[xhomerx10]

What you are seeing below is a classic morning star on the daily chart indicating the start of a bullish trend.



Combine that with 2 weekly red candles behind us and RSI hovering in the mid 40's and I believe I'm sounding like a seasoned technical analyst even though I don't know shit.  I am however crossing my fingers for the new ATH to happen on Sept 27th 

[JayJuanGee]

I second that. BitCoin isn't like 'other' markets.

I can tell you from my experience ...

And I can tell you from experience that whatever you think you know about some canonical market is absolutely inapplicable here.

That is nonsense , of course each market is different, but the principle of mean reversion always applies, especially to currencies.

Have you ever thought about metacalfe's law?  If you are trying to equate bitcoin with other currencies then you are going to be off base because bitcoin is way fucking early to be pigeon-holed like that.. and to act like  it is same ole same ole.

I didn;t know about Bitcoin in 2009, but I would guarantee you that I would have invested minimum 2500 EUR into BTC if I had known about it. I was always amazed by internet stuff, seeing Youtube, Google and FB grow suggested to me that any cryptocurrency would immediately have huge value.

So I have pretty good insights compared to other "experienced" traders.

Besides I wasn't in stocks or bonds, I was in real estate and agro land.

Yeah because you are amazing and able to predict better than anyone else because you are above average in everything... blah blah blah..  

Why don't just communicate with the rest of us like you are a normal person rather than attempting imbue status upon yourself and to patronize the rest of us.  Come on.. do it.  Tell us what the fuck is going to happen, and give us reasons, rather than your lame-ass status as you frame as supposed material and relevant experience.  Do it.  Do it.    

[Icygreen]

So I mentioned the other day that Morgan Freeman is an excellent person, and I'm not quite ready to take that back yet. But. Well...

https://www.youtube.com/watch?v=ld0VA7Zzfz4

Wow, can't even trust good ol' Morgan Freeman anymore. His eyes says he doesn't believe what he's saying IMHO.

I cancelled my Trezor order when the hack was exposed to relinquish private keys and balances.  Mostly because I travel a lot and I intend to carry a unit with me. If airport TSA or customs can access keys on the device, I no longer see the use in it.   May prove to be true with other devices later but I ordered the Ledger nano s.  Ships in October, ordered in early August = Bullish!

 Stop spreading FUD.

Sorry you had to read through my.... FUD. I'ts my FUD and I do with it what I deem relevant.  Thanks for the update on the Trezor. From what I had read and watched, it looked like a physical hack/backdoor dump. I didn't know the software patch solved the issue. I might still consider it a relevant concern for someone traveling often.

[profitgenerator212]

Have you ever thought about metacalfe's law?  If you are trying to equate bitcoin with other currencies then you are going to be off base because bitcoin is way fucking early to be pigeon-holed like that.. and to act like  it is same ole same ole.

Yeah and no market goes up forever. What goes up comes down. Being in this permabull/shill mentality is very wrong. It the same as those foolish  traders before the 2008 crisis.

Why don't just communicate with the rest of us like you are a normal person rather than attempting imbue status upon yourself and to patronize the rest of us.

I have already explained it, I wrote a few posts about it in my blog. I don't think this thread is the best place to explain it in detail.



But I don't even care if you believe in me or not. I have put out my opinions, everyone does what he wants with them. I don't care if you lose or win money at this point. I know I will make money if the market goes down.

[ragnar0k]

What you are seeing below is a classic morning star on the daily chart indicating the start of a bullish trend.



Combine that with 2 weekly red candles behind us and RSI hovering in the mid 40's and I believe I'm sounding like a seasoned technical analyst even though I don't know shit.  I am however crossing my fingers for the new ATH to happen on Sept 27th 

That is indeed a morning star (I just looked it up on google XD)! Setting my alarms 

@JayJuanGee see? It's all a matter of perspective and I've learnt something new!

[BlindMayorBitcorn]

This is all going in my blog.

[bones261]

But I don't even care if you believe in me or not. I have put out my opinions, everyone does what he wants with them. I don't care if you lose or win money at this point. I know I will make money if the market goes down.

You really think that you can outmaneuver DCG and other whales? I certainly hope that you don't plan on margin shorting this shit. Rest assured, the whales will quietly close their shorts before you and then squeeze you out of your short to buy their expensive coins at the top of the next sucker's rally. Good luck trying to figure out this volatile and illiquid market, that can be manipulated at the whim of whales. These "whales" don't even need to have a billion USD in fiat/BTC. A few 10s of millions of USD worth should do the trick, if that.  

[LewisPirenne]

The main thing that I worried about Trezor or Ledger Nano S is that custom officials around the world are going to wise up and start looking for them.  Because they do have rather distinct look from your regular USBs.  

Pretty much every countries in the world has currency amount restriction and reporting requirement at airport.  If countries start to include Bitcoin into amount that you have to declare, having even 1 BTC in your hardware wallet could easily exceed those limit one day!  Since most limit are around USD or EUR 10K max.  BTC could easily reach USD or EUR 10K if it wants to.