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

[mymenace]

Trading cryptos is as addictive as gambling.  When I break my rule of not trading on bear markets, then I get burned. During the rule of Karhu, one must be humble and without greed. Karhu will bless those who will stay in fiat and keep out of crypto during these times. Predictability is too low and the odds unfavorable for success.
There are rumors that 'Binance hack' was just a diversion. Something that sounded alarming enough to justify the selling volume, and something that was weak enough for regular Joes to keep up their bids to catch the "panic sellers".
Usually, during bull markets the weekdays are good and the weekends are bad. During bear markets, it's usually the opposite. So, there is a good chance that the price will recover a little in the next couple of days, but it still is a risky gamble, because bear markets have the tendency steer in the direction that will be surprising to the majority.

The main thing that gives bitcoin value is belief. Belief has to pay for about 5 billion dollars per year for electricity and hardware to run a payment network with 5 million users. That is a lot of weight on belief and belief can only do so much. Unnecessarily expensive and outdated systems like BTC PoW mining are dragging this market down.

from about price point $6000USD seems like someone else took over the markets

both fud and btc volume,

5 sides from what i can tell , bcash, mining, media, legislation, hacks

testing control and moving up and down

opportunity if you can get it, $2000 swings


Belief the train has left the station
Belief the technology is on a rocket to the moon
Belief there are no more stations, all aboard

Then why the stoppage?

fib chart perfect each bottom hey








yes the mtgox sell off over 164000btc we hearin and seein it

[1714172583]

1714172583

[1714172583]

1714172583

[explorer]

Another wannabe trader thinks he can analyse patterns, trends and support/resistance on the 5 minute chart.



Sigh.

via Imgflip Meme Generator

[JayJuanGee]

Because 160,000 BTC are preparing to be dumped on the market. Am I the only one here??

That is not true.

It might happen, but you are overly emphasizing the thread or even the impact of 160k coins hitting the BTC market.  BTC can easily absorb 160k coins if there is not some of the other FUD going on including.. just FUDsters taking advantage of downward momentum to see if they can get weak hands like you to sell.

[Rosewater Foundation]

BTC can easily absorb 160k coins

Wat??

[Bitcoinaire]

I should've sold more in January.....

[bones261]

Because 160,000 BTC are preparing to be dumped on the market. Am I the only one here??

That is not true.

It might happen, but you are overly emphasizing the thread or even the impact of 160k coins hitting the BTC market.  BTC can easily absorb 160k coins if there is not some of the other FUD going on including.. just FUDsters taking advantage of downward momentum to see if they can get weak hands like you to sell.

According to this article, http://fortune.com/2018/03/07/nobuaki-kobayash-sells-bitcoin/, he's been selling since September. It seems he is taking some care to not totally crash the market. To give some perspective, it takes about 92 days to mine 165,000 coins. I think the market can handle it. Although it might hobble along for quite a while.

[HairyMaclairy]

How is it that no one has figured out that Kobayashi is actually Keyser Soze?

[mymenace]

Because 160,000 BTC are preparing to be dumped on the market. Am I the only one here??

That is not true.

It might happen, but you are overly emphasizing the thread or even the impact of 160k coins hitting the BTC market.  BTC can easily absorb 160k coins if there is not some of the other FUD going on including.. just FUDsters taking advantage of downward momentum to see if they can get weak hands like you to sell.

According to this article, http://fortune.com/2018/03/07/nobuaki-kobayash-sells-bitcoin/, he's been selling since September. It seems he is taking some care to not totally crash the market. To give some perspective, it takes about 92 days to mine 165,000 coins. I think the market can handle it. Although it might hobble along for quite a while.

listen to the universe and the report

he wants top value for the coin

buy the dip

$2000 swings easy

sideways action

have fun

[HairyMaclairy]

Hindsight being what it is, I knew I should have listened to my gut and sold a chunk at $11.5k the other day

Fuck.

Oh well.

I have no idea why the Dumposaurus Rex is chasing everyone down this evening.

Chill out a few more years and be a billionaire instead. And have women from Town & Country magazine scoping you out, which seems to be some American version of Tatler. Crypto at the gates indeed. 

[dakiller]

Doing some bear planning



uploaded photo

[jojo69]

oversold up to the 4 hourly

imma ladder buy down from here

[JayJuanGee]

[edited out]

same feeling

from about price point $6000USD (and got it back their to rebuy) seems like someone else took over the markets

Yeah a lot of sudden downward movement in a very short period of time.

I believe that we still likely have decent buying support at $8k and $7,500; however I suspect that there would not be a lot of buying support between about $5k and $7,500 - in the event that support does not hold in the lower $8k or the mid $7ks.

In other words, I have decent doubts that $6k would hold another time once we start to get back into the $6k price territory, if such were to happen.

both fud and btc volume,

Of course, we cannot be surprised by large price drops FUD spreading because this is bitcoin.

5 sides from what i can tell , bcash, mining, media, legislation, hacks

Bcash seems to be yesterdays news and losing influence.

But there are at least a few areas besides merely taking advantage of momentum..

testing control and moving up and down

opportunity if you can get it, $2000 swings

I am a bit too chicken shit to wait for $2k increments to buy back in, so I buy back in tighter increments around $350, these days.

Belief the train has left the station
Belief the technology is on a rocket to the moon
Belief there are no more stations, all aboard

Then why the stoppage?

This may be  a shaking of the ICO and altcoin parasites as Marcus Augustus mentioned a few weeks ago.  There may be a more decent market incentive to shake some the altcoin and ICO trash.

[babanana]

My first bag already full. Few more bags waiting below. What caused this drop? Gox? There's not much fud unlike the week when it drops from 20k to 11k.
I thought we're already on smooth sailing from last week's bull.

Bitcoin is really full of surprises!

[JayJuanGee]

BTC can easily absorb 160k coins

Wat??

That's right.  You heard it here first.   

[mymenace]

Belief the train has left the station
Belief the technology is on a rocket to the moon
Belief there are no more stations, all aboard

Then why the stoppage?

This may be  a shaking of the ICO and altcoin parasites as Marcus Augustus mentioned a few weeks ago.  There may be a more decent market incentive to shake some the altcoin and ICO trash.

Sounds good, good for bitcoin

[JayJuanGee]

I should've sold more in January.....

That's what she said.

[HairyMaclairy]

Burn the alts to the ground.  Burn motherfuckers burn.

Bcash lol clinging to the bottom side of $1k.  They let that go and it’s a a slippery dip. 

[JayJuanGee]

Because 160,000 BTC are preparing to be dumped on the market. Am I the only one here??

That is not true.

It might happen, but you are overly emphasizing the thread or even the impact of 160k coins hitting the BTC market.  BTC can easily absorb 160k coins if there is not some of the other FUD going on including.. just FUDsters taking advantage of downward momentum to see if they can get weak hands like you to sell.

According to this article, http://fortune.com/2018/03/07/nobuaki-kobayash-sells-bitcoin/, he's been selling since September. It seems he is taking some care to not totally crash the market. To give some perspective, it takes about 92 days to mine 165,000 coins. I think the market can handle it. Although it might hobble along for quite a while.

If you think about the USD/BTC trade volume on various exchanges between December and February, we had quite a few days, just in USD/BTC trading that was well over 100k btc in just one day... and w had some exchanges that were approaching 100k BTC  daily individually.  Spread that out over a week, a month, or three months, and you have stupendous BTC trade volume that can easily absorb that number of coins with hardly a burb.

[Paashaas]

Burn the alts to the ground.  Burn motherfuckers burn.

Bcash lol clinging to the bottom side of $1k.  They let that go and it’s a a slippery dip. 

[babanana]

If gox coins going auction, I would love to bid. Of course, just crumbs, if they will open.