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

[becoin]

Big blocktard trolls are very active if price goes down and disappear if price goes up. Nice, huh?

BCH sh!t going down the drains. Somebody lost a fortune. But hey, they lost we won.

[d_eddie]

Big blocktard trolls are very active if price goes down and disappear if price goes up. Nice, huh?

BCH sh!t going down the drains. Somebody lost a fortune. But hey, they lost we won.

This is what would happen to B2X if there were 2-way mandatory replay protection. If they actually fork (which still remains to be seen IMO), we'd better split and sell quickly.

[LewisPirenne]

https://en.wikipedia.org/wiki/Ichimoku_Kink%C5%8D_Hy%C5%8D#Tenkan-sen

Tenkan-sen is the conversion or turning line while kijun-sen is the basis line.  Tenkan-sen and Kijun-sen (TK) cross is sort of like short term MA crossing medium term MA.  Ichimoku system is something that can be useful if everyone else and his brother is using it, like the JGB market, back when it was actually a market and before BoJ came in and bought them all.  It gives insight to what other players might be thinking. 

[JayJuanGee]

Aww man, I hope we don't drop below $4k again. I'll have a sad then

I believe that there is some support at $4k, but I doubt that such support is really strong.. but what do I know?

I would suspect that support in the $3500 to $3600 arena would be pretty strong  - yet if that $3500 t0 $3600 support does not hold, then we will be testing $3k, again... that should surely be the bottom - and a double bottom at that... but I would still put getting down to $3k at less than 35% chance.. which is reasonable, but not super strong from my current perspective.

I think that we have greater than 50% odds of testing resistance and even breaking above $5k resistance before mid- November; however, if we break below $3k, then I will certainly be reassessing my current tentative thinking on the matter.

I have over 500k worth of tether spread on three exchanges waiting at that level.

Well, I hope that you are not playing only one direction, because as you may have noticed I have described odds for up and odds for down, so to me it seems quite risky if you were only betting one direction.

By the way, what level are you betting?  $3500-$3600 or a more risky bet of $3k?

Also, kind of on the same point, if I were to have $500k available for buying down to $3k, for example, then that would probably mean that I have more than $800k in cash available for possibly buying down to $1k - even though I am pretty doubtful that we would get much below $2200.. ... Furthermore, I would have well over 1,000 in bitcoins too.. (which is currently valued at over $4million)...

So, what I am saying is that you seem to be betting one direction because it does not seem that you have that many bitcoin investment assets in total, other wise you would not be talking about the $500k worth of tether rather than describing the other side of the ledger, and in that regard, you seem to be poorly hedged for both directions... actually, even a 50/50 hedge would mean that you better have at least 200 bitcoins (besides your cash holdings), at these prices....

I am at $3400-$3600. That came from the 132 btc I sold last time at $4700 level first week of Sept, Cash out 100k+. Bought back 160btc at $3100, then sold at $4300 3days ago then cash-out excess of 500k. of course I pull them out when avalanche is incoming.

Apparently you have a balls to the walls system that works. I have no idea how to predict either price direction, so I just play both, and I don't make as much money, but I am surely comfortable with my strategy and my strategy seems to pay off pretty well, too.

I suspect that if the market is not going your direction, then you either have a stop loss or a buy back point, too.... so hopefully your bitcoin building strategy continues to work for you.

Historically, when newbies come into this thread bragging about their balls to the walls strategy, they are not really sharing all of the facts and frequently it is difficult to determine the extent of their truthfulness (and whether they are trying to entice people or to talk their book - same idea, and forms of trolling), besides that they want to brag their good plays..  and hopefully they understand the odds of Martingale principles.

Just got lucky. When buying slows down, that's when I immediately sell. Or when dumping slows down, you buy.

So what you gonna do now?  You just keep playing the "slow down" "speed up" theory, or do you cut your losses at a certain point when the price goes above your earlier sell point?  Sure you could wait it out because this might just be a bull trap, but what if it is not a bull trap and we proceed to $5k, what you gonna do then?

[JayJuanGee]

Nice to wake up and see we have a new bearish trend confirmed:(

there is no bearish trend.

All we have is a correction and then another correction and the question is how far down the correction is going to go and whether this particular leg is going to be longer or shorter than the last.  You are not going to get a bearish trend out of a few corrections, even if the corrections are a month or two or even three long.  That is simply not enough time to conclude that we are in a bear trend - especially after nearly a 5x price rise for the year and nearly a 20x price rise for two years.

[Wexlike]

Breaking News:

Even Cristiano Ronaldo is now mining crypto currencies !!!!

Just visit http://www.cristianoronaldo.com/ and pay attention to your cpu workload.




ROFL.

[conspirosphere.tk]

All we have is a correction and then another correction and the question is how far down the correction is going to go

I might get worried only if the usual suspects stop the printing press, which is the only scenario where fiat cash might become really precious.

[Ted E. Bare]

Who sold at the bottom?

🚂🚂🚂🚂🚂🚂🚂🚂🚂🚂

[LewisPirenne]

Breaking News:

Even Cristiano Ronaldo is now mining crypto currencies !!!!

Just visit http://www.cristianoronaldo.com/ and pay attention to your cpu workload.

ROFL.

Anyone bother to look up how much Ronaldo mined to that address, which I presume is a XMR address?  Not that he needs the money anyway....

Or is it not possible with XMR's anonymous feature?

[fluidjax]

Your BTC transaction will be replayed on BTC2X.

That's by design, for maximum disruption. A hostile takeover attempt by any reasonable standards.

I think splitting BTC-B2X will require mixing freshly mined coins into one's transactions. The landing chain of the transaction will be the chain where the fresh coins were mined. I still have to figure out how to do that.

There seems to be a different way invoving timelocked transactions - but I won't have a clue about this bit of magic until I research the matter. BTW, for the technically knowledgeable: pointers would be welcome  

There is going to be opt-in replay protection. (Why opt-in and not strong, see https://bitcointechtalk.com/how-segwit2x-replay-protection-works-1a5e41767103)

To split your coins
On BTC chain you have some coins in address (A), you send your coins to another address you own (B), and include a further special recipient address 3Bit1xA4apyzgmFNT2k8Pvnd6zb6TnwcTi  to whom you send a few satoshis. (You have to use send to many option in your wallet, to send them at once).
Any transactions that contain this special address will be ignored by 2X miners.
Once this is successful, you will have your BTC in an address(B) you own.

Now you switch to the 2X chain, and send again from your first address (A), this time to a different addresses (C) you own this time omitting the special recipient address.

After this:
A is empty on both chains
B contains BTC coins
C contains 2X coins

Huh WTF!?!?

WTF, exactly, thats the replay protection they have used, there are plenty of better ways.
Of course one of the best ways to do it  is like BCH, but that will break SPV wallets. So if you are running an SPV wallet you may get automatically 'upgraded' to 2X without any action.

[babanana]

Wow. This is a good problem. I sold at $4300 and plan to buy back at lower price but look. BTC is holding. Congrats to all of us. 

[d_eddie]

https://en.wikipedia.org/wiki/Ichimoku_Kink%C5%8D_Hy%C5%8D#Tenkan-sen

Tenkan-sen is the conversion or turning line while kijun-sen is the basis line.  Tenkan-sen and Kijun-sen (TK) cross is sort of like short term MA crossing medium term MA.  Ichimoku system is something that can be useful if everyone else and his brother is using it, like the JGB market, back when it was actually a market and before BoJ came in and bought them all.  It gives insight to what other players might be thinking. 

Thank you. Reading it up.

[soullyG]

Wow. This is a good problem. I sold at $4300 and plan to buy back at lower price but look. BTC is holding. Congrats to all of us. 

Better buy back in soon!

[JayJuanGee]

Wow. This is a good problem. I sold at $4300 and plan to buy back at lower price but look. BTC is holding. Congrats to all of us. 

What you gonna do?

[Wexlike]

Breaking News:

Even Cristiano Ronaldo is now mining crypto currencies !!!!

Just visit http://www.cristianoronaldo.com/ and pay attention to your cpu workload.

ROFL.

Anyone bother to look up how much Ronaldo mined to that address, which I presume is a XMR address?  Not that he needs the money anyway....

Or is it not possible with XMR's anonymous feature?

Should not be possible with Monero.

[Meuh6879]

Break, break, break !!! (this HUB line !)

[Meuh6879]

And 4 tx per second ... http://btcaudio.tk/live/

[starmman]

Wow. This is a good problem. I sold at $4300 and plan to buy back at lower price but look. BTC is holding. Congrats to all of us. 

Haha, yeah - I thought that today would look a little more bearish - but prices not so bad - most alt prices are generally on their way down though

[JimboToronto]

Good morning Bitcoinland.

I see we bounced right back after yesterday's little dips and we're pretty much where we were 4-5 days ago... currently $4330USD/$5430CAD (Bitcoinaverage).

Meanwhile AltCash continues its downward spiral... currently $363USD/$453CAD (Coinmarketcap).

It was looking so promising last weekend that maybe we'd see an ATH this week. Now that's almost impossible. Maybe by the end of the month. 

[Icygreen]

Looks like a nice bounce out of 4100 range as I had previously posted and hoped for.  There are 3 or 4 previous strong resistance points that have turned into support around 4120.  Anyhow, happy to wake up and see some green rocket fuel.

As usual, hodlers relieved and shorts chasing the train.

BCH still mesmerized by gravity .082  and I might take a small position on it if it starts to get into price parity with ETH (for the psychological bounce) although those big walls at .02 are not so reassuring. Or just let it die. Hmm...