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

[True Myth]

Google Trends for Bitcoin is the only indicator that is 100% accurate

So... We should pump Google searches for "bitcoin"?  Someone set up a bot please.  

[Enjel]

Also, for your "propeller" graphs, and the price history, it seems that after each correction, the new top is about 2.5x - 3x higher than the previous bottom.

In that case, if 9k really is the bottom, then we should be expecting BTC/USD around 25k in the next few months. Is that what you're predicting?

[Torque]

The problem is, the correction's just far to sharp and deep for it to be the start of a long term bear market. What's happened is it got overheated in December, then the bubble popped. Then shorters took control and it gets oversold. Then the short bubble pops and it generally ends up halfway up the retrace where it stabilises. So that would be around $13,800 if it spikes down to, say $8800.

If it really was the start of a long term bear, what usually happens is you get a bubble popping to, say 30%, 40% retrace, then a slow build up over a couple of months, then lower highs from there on for 6 months to a year. This isn't like that. It's a perfect bitcoin overheat retrace type correction (IMHO that is).

Lets see what happens when the shorts close and re-assess as we're getting into oversold territory at increasingly long ranges now. RSI is confidently oversold at all ranges up to the 6 hour already, 12 hour is just entering and 1, 3 day are not far off.

I agree.

I mean, just look at the 1d chart on Stamp. The short/sell volume has been falling ever since the ATH. Right now in comparison to previous legs down, it's pathetic.

[jojo69]

we keep telling ourselves these stories

these charts do not look good

[babanana]

All praises when its up. All issues when its down. circus!

[Torque]

we keep telling ourselves these stories

these charts do not look good

So if you are so nervous, what is your "I'm out" price?

[jojo69]

we keep telling ourselves these stories

these charts do not look good

So if you are so nervous, what is your "I'm out" price?

and sell at the bottom?  please

rather wishing, however, that my "I'm out" price had been at the daily MA cross..which even with the losses incurred in 2 false signals would have been well in excess of 13K

[Torque]

we keep telling ourselves these stories

these charts do not look good

So if you are so nervous, what is your "I'm out" price?

and sell at the bottom?  please

rather wishing, however, that my "I'm out" price had been at the daily MA cross..which even with the losses incurred in 2 false signals would have been well in excess of 13K

Meh, I wasn't motivated to sell at $19k, $17k, $13k, and not now at $10k. And I'm fully aware that the market could bottom at ~$5-6k. In fact I'd just be looking to add to the stack if we hit that.

Here's the thing: ETFs, ETFs, ETFs. They are coming! Wallstreet knows this. What do you think will happen to the price when Bitcoin ETFs come online? Do you really want to be out of bitcoin when that happens? Do you honestly think that you'll get advanced notice?

[Ibian]

So there is a red pill coin coming out. In less than 24 hours.

Are YOU red pilled enough to get some red pills? Are yah, cuck?

[Arriemoller]

So there is a red pill coin coming out. In less than 24 hours.

Are YOU red pilled enough to get some red pills? Are yah, cuck?

Had "en lille en" have we?

[mymenace]

Dont you find it odd all these hacks, regulations, bans and scam exposure come out at once

a lot on this forum knew about it for months/years

so why the news happening all at onc...




Fear, we want your cheap coins (Remember Davos)

yum yum yum

[UnDerDoG81]

Dang. Now I bet we get some FUDs and Bitcoin will be at 3k ish soon. I cross my fingers that 9k holds 

[Ibian]

Dang. Now I bet we get some FUDs and Bitcoin will be at 3k ish soon. I cross my fingers that 9k holds 

Dude you have no idea how much I want that. I would still be sitting on big profits by any normal standard, and have fiat available from the clonecoins to buy up.

[TERA2]

Pop quiz: Convince an average low/middle class fiat-loving law-abiding person who doesnt believe in a failing or fraudlent banking system that they should use bitcoin, without talking about its price or making profit by trading it. Present what benefits they will reap by using bitcoin as opposed to banks, VISA, google pay, venmo, etc. Anything besides capital gain?

[Paashaas]

Dang. Now I bet we get some FUDs

Bloomberg has updated their article to include that the subpoena was sent December 6th, this old news = FUD made panic sellers 

[Enjel]

Pop quiz: Convince an average low/middle class fiat-loving law-abiding person that they should use bitcoin without talking about its price or making profit by trading it.

The people you've described tend to be very very stupid, or at least simple-minded. Sheep in general. They believe that government and establishment will help them out, if they only vote for the right politicians.

They think that the best way to make money is to put it in a bank and lose 3% purchasing power each year, despite interest, or to invest in some conservative mutual funds which won't make them any real profit until they die - at least they can pass it to their children... after a hefty tax.

Or maybe they just love being slaves.

EDIT with regards to your quote - if these people are fiat-loving, then you'd have to change that first. For them, Bitcoin offers no benefits because they love the government and idolize the leaders of their political philosophy in government.
Of course, these same leaders will dump them in an economic crash and tax them into oblivion.

[Genesis1337]

Pop quiz: Convince an average low/middle class fiat-loving law-abiding person who doesnt believe in a failing or fraudlent banking system that they should use bitcoin, without talking about its price or making profit by trading it. Present what benefits they will reap by using bitcoin as opposed to banks, VISA, google pay, venmo, etc. Anything besides trading profits?

"If you don't believe me or don't get it, I don't have time to try to convince you, sorry." 

[JayJuanGee]

Pop quiz: Convince an average low/middle class fiat-loving law-abiding person who doesnt believe in a failing or fraudlent banking system that they should use bitcoin, without talking about its price or making profit by trading it. Present what benefits they will reap by using bitcoin as opposed to banks, VISA, google pay, venmo, etc. Anything besides capital gain?

You are presenting false parameters in your shilling argument, tera beara... bitcoin is not merely meant to serve as a payment system, even though it may well accomplish such common use in that direction in the future, perhaps, but not necessarily in order to still have value and utility.

Yeah, if you create your own strawman, then you can more easily make some dumb -ass pie in the sky argument, that is not connected with reality.

[Heater]

Pop quiz: Convince an average low/middle class fiat-loving law-abiding person who doesnt believe in a failing or fraudlent banking system that they should use bitcoin, without talking about its price or making profit by trading it. Present what benefits they will reap by using bitcoin as opposed to banks, VISA, google pay, venmo, etc. Anything besides capital gain?

Your answer can be found in the BitConnect marketing manual.

[TERA2]

Pop quiz: Convince an average low/middle class fiat-loving law-abiding person who doesnt believe in a failing or fraudlent banking system that they should use bitcoin, without talking about its price or making profit by trading it. Present what benefits they will reap by using bitcoin as opposed to banks, VISA, google pay, venmo, etc. Anything besides capital gain?

You are presenting false parameters in your shilling argument, tera beara... bitcoin is not merely meant to serve as a payment system, even though it may well accomplish such common use in that direction in the future, perhaps, but not necessarily in order to still have value and utility.

Yeah, if you create your own strawman, then you can more easily make some dumb -ass pie in the sky argument, that is not connected with reality.

If you are saying there are false parameters, you must be admitting bitcoin is only for overthrowing the fed, committing crimes, and/or making a profit... (or overthrowing the fed so you dont have to taxes on the profits)