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

[JimboToronto]

Ok, i´m panichodling 

I've been panic buying every deep dip and panic hodling in between since early 2013. It's become an obsession.

It's started to interfere with things in my life like mindless consumerism, squandering, poverty, etc. I feel I'm not doing my part to help transnational corporations and name-brand advertisers.

All that money I could have spent on trinkets and status symbols dumped into that bottomless pit called a Bitcoin stash.

What do I have to show for it? A few dozen QR codes and a tiny little USB dongle? Oh the shame. 

[gembitz]

Ok, i´m panichodling 

I've been panic buying every deep dip and panic hodling in between since early 2013. It's become an obsession.

It's started to interfere with things in my life like mindless consumerism, squandering, poverty, etc. I feel I'm not doing my part to help transnational corporations and name-brand advertisers.

All that money I could have spent on trinkets and status symbols dumped into that bottomless pit called a Bitcoin stash.

What do I have to show for it? A few dozen QR codes and a tiny little USB dongle? Oh the shame. 

wake me up when we hit $10,000 zzz    lel

[BlindMayorBitcorn]

sorry to stalk you like a lovesick puppy

Not at all. I've enjoyed our time together.

but you are right, doom's coming.

Not too much doom I hope. I'm about to sign a lease on a swank pad.

[Last of the V8s]

ah doom's an impermanent thing. all in the end is bliss
good luck with the new digs

[starmman]

One thing to note, we could be entering bubble territory if the price begins to deviate sharply from what mining ROI hashrate supports. By my back-of-the-napkin calculations, that level is right around $4k/btc. And note that the hashrate increases have somewhat slowed as of late. I'm hoping that is only temporary.

Now some of this money coming in could really be institutional hedge fund money, who are taking large long positions. Hopefully they have better long term vision than the millions of kiddies with their $200 overnight bets burning a hole in their pocket.  

Haha, I think we will see what happens on the 25th i if thats still the day the fork hits IMO looks like a bit of a bubble - will be happy if 'm wrong though - I'm hedging both ways LOL

[Remember remember the 5th of November]

One thing to note, we could be entering bubble territory if the price begins to deviate sharply from what mining ROI hashrate supports. By my back-of-the-napkin calculations, that level is right around $4k/btc. And note that the hashrate increases have somewhat slowed as of late. I'm hoping that is only temporary.

Now some of this money coming in could really be institutional hedge fund money, who are taking large long positions. Hopefully they have better long term vision than the millions of kiddies with their $200 overnight bets burning a hole in their pocket. 

Haha, I think we will see what happens on the 25th i if thats still the day the fork hits IMO looks like a bit of a bubble - will be happy if 'm wrong though - I'm hedging both ways LOL

How though?

If you short AND go long, sounds like in the end you will end up with 1-2% of loss.

[JayJuanGee]

is this the s-curve take off?

a) 6800$ (bearish)!

b) 7400$ (conservative)!

c) 8100$ (bullish)!

pick one!

I consider only C to be correct.  The other two assertions are not correct.

We have the next likely resistance points in the $6800 to $7800 range, so if we go to $8100 that woudl be bullish and would have likely broken through the likely resistance range.

Conservative would be prices going in the lower end of the range or not quite making the range.

It is difficult to imagine exactly what is bearish - since we are already into amazing price territories - but I would think that bearish would be to experience another correction here that goes beyond 60%. 

Since we have quite a bit of ongoing upwards price pressures and recently having had broken through $6k, it seems to me to be quite against the odds to even have a 10% price correction - without some major FUDding.  Also, even though I believe that BTG is not driving this run, except perhaps on the margins, any 10% or more correction would be more likely to occur after the Oct. 25 forkening, no?

[JayJuanGee]

im not seeing many people calling top on this yet, so i think I will:  $6225

I think weve gotr one more push of ~$100 to hit a new ATH, then we see some corrective action down <$5700 and consolidation in the $5800-6000 range while waiting for either a reason to rally (good news/continued buying) or crash (FUD. china banned us again?)

you are overly bearish, buddy.     and also a bit pie in the sky.   

We don't just break through $6k and then correct down to some stupid ass lala land price that is just barely that previous resistance point.  Makes little sense when accounting for real world factors and/or logic.   

[gembitz]

One thing to note, we could be entering bubble territory if the price begins to deviate sharply from what mining ROI hashrate supports. By my back-of-the-napkin calculations, that level is right around $4k/btc. And note that the hashrate increases have somewhat slowed as of late. I'm hoping that is only temporary.

Now some of this money coming in could really be institutional hedge fund money, who are taking large long positions. Hopefully they have better long term vision than the millions of kiddies with their $200 overnight bets burning a hole in their pocket.  

Haha, I think we will see what happens on the 25th i if thats still the day the fork hits IMO looks like a bit of a bubble - will be happy if 'm wrong though - I'm hedging both ways LOL

$10,000x$25,000 possible this year >.> tin hutzzz

[BlindMayorBitcorn]

ah doom's an impermanent thing. all in the end is bliss
good luck with the new digs

Wait for the photoshop, I'll invite you all to Bitcoin Castle North.

[bones261]

what's going on, who of you cashed out sold at the bottom?

ftfy  

I didn't mind selling a little bit at 61xx USD and buying it back at 59xx USD. Can we have this happen multiple times over the next few days?

[Torque]

ah doom's an impermanent thing. all in the end is bliss
good luck with the new digs

Wait for the photoshop, I'll invite you all to Bitcoin Castle North.

Risto's castle? lol

Speaking of which, how's that guy doing lately? Haven't heard much since he headed off into Moneroland.

[jojo69]

ah doom's an impermanent thing. all in the end is bliss
good luck with the new digs

Wow, a real slate roof.

I bet the rest of the material is laying in a pile in there.

Give me a unit of timber and a month in the summer and I'll have that place looking cute as fuck.

[itod]

I didn't mind selling a little bit at 61xx USD and buying it back at 59xx USD. Can we have this happen multiple times over the next few days?

It's a question: How do you determine when it is wise to sell, in order to by the dip? All indicators for BTC being in overbought territory don't look reliable to me.

[JimboToronto]

ah doom's an impermanent thing. all in the end is bliss
good luck with the new digs

Better than living under a bridge.  

[BlindMayorBitcorn]

ah doom's an impermanent thing. all in the end is bliss
good luck with the new digs

Wait for the photoshop, I'll invite you all to Bitcoin Castle North.

Risto's castle? lol

Speaking of which, how's that guy doing lately? Haven't heard much since he headed off into Moneroland.

Last I heard he went full exit-scam in his fantasy crypto land game. And I guess he's crazy again.

[bones261]

I didn't mind selling a little bit at 61xx USD and buying it back at 59xx USD. Can we have this happen multiple times over the next few days?

It's a question: How do you determine when it is wise to sell, in order to by the dip? All indicators for BTC being in overbought territory don't look reliable to me.

I don't do anything. Just get lucky sometimes playing ping pong.   Notice the operative clause "little bit." If the market never comes back down, I just settle for the fiat.

[julian071]

Anyone else having issues with polo? Sent some btc there to buy some dash, 4 confirmations but the deposit is not showing, not cool.

Edit: and of course this had to be post #666 by me =(

Edit2: never mind, it showed up instantly just now, ready to be spent. Hail satan.

[starmman]

One thing to note, we could be entering bubble territory if the price begins to deviate sharply from what mining ROI hashrate supports. By my back-of-the-napkin calculations, that level is right around $4k/btc. And note that the hashrate increases have somewhat slowed as of late. I'm hoping that is only temporary.

Now some of this money coming in could really be institutional hedge fund money, who are taking large long positions. Hopefully they have better long term vision than the millions of kiddies with their $200 overnight bets burning a hole in their pocket. 

Haha, I think we will see what happens on the 25th i if thats still the day the fork hits IMO looks like a bit of a bubble - will be happy if 'm wrong though - I'm hedging both ways LOL

How though?

If you short AND go long, sounds like in the end you will end up with 1-2% of loss.

Most of my profits are down to the alt price fluctuations and micro-trading - I'm making more than the difference you mention off the fluctuations. Its been an interesting week so far, alt prices are down a lot but USD value is up for me. If the bubble bursts then I suspect alts will be back up if not then the BTC I've been siphoning off will make a good profit. I'm not spread betting.

[starmman]

One thing to note, we could be entering bubble territory if the price begins to deviate sharply from what mining ROI hashrate supports. By my back-of-the-napkin calculations, that level is right around $4k/btc. And note that the hashrate increases have somewhat slowed as of late. I'm hoping that is only temporary.

Now some of this money coming in could really be institutional hedge fund money, who are taking large long positions. Hopefully they have better long term vision than the millions of kiddies with their $200 overnight bets burning a hole in their pocket.  

Haha, I think we will see what happens on the 25th i if thats still the day the fork hits IMO looks like a bit of a bubble - will be happy if 'm wrong though - I'm hedging both ways LOL

$10,000x$25,000 possible this year >.> tin hutzzz

I'm not feeling quite so optimistic - but would be very happy if you are right =)