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

[Majormax]

It has merit that is for sure. FA can be a important tool to use in determining probabilities. Really the only "chart" needed it this one imo. Not many coins for sale on the open market and a whole lotta fiat sitting on the sidelines waiting to enter.

Unfortunately, the support and resistance on the order books seems to always turn out to be a reverse indicator. It appears many traders don't like to lay their cards out on the table. Either they have stops in place or have a bot running. Many do not mind being a market taker rather than a market maker. In my view, the order book is a bunch of smoke and mirrors set up to trick the easily fooled.

That nearly always seems to work.

It may as you say, be intended to misdirect, but I personally believe that the effect comes from the way large potential traders react to the order book. All about volume.

A whale (lets say seller in this instance for illustration) would not want to dump into a relatively thinly bid order book as he would take out bids too far down...so he waits patiently for stronger bids, and then sells into those.  The reverse in the case of a buyer.

I do that myself in thinly traded alts. It is the only way to get a half decent price.

[sirazimuth]

watching the price everyday, as usual.
oh yeah... that reminds me, I have a very slow leak in my tire....

[cAPSLOCK]

The level of bullishness in this thread is bizarre and concerning since I normally factor in a reverse sentiment indicator.

I agree and also find it concerning.

That said, my own stance on Bitcoin remains solidly bullish... but that is considering a fairly open ended time horizon. The current environment is undoubtedly bearish and all arrows a pointing towards it continuing to be. But, I still think the fundamentals and the future are very bright and it's just a matter of time, as it has been in the past, before Bitcoin comes roaring back. Question is... what is that matter of time?

Is that the kind of bullishness that concerns you?  Should I be rending my garments?

[HairyMaclairy]

It’s Saturday night, 9pm in New York.  

By rights, *something* should happen soon. Price is $7,007 as I write this.  Or maybe it will be saved for 24 hours from now because it is a long weekend. 

[gentlemand]

Social engineering for fun and profit.
As if our sentiments are an indication of anything. Most of us are dead inside.

Yes. If you're looking for the pulse of cryptoness, this thread is a vast plain of clammy, grey, peeling flesh.

Anyone basing their trades off sentiment here is a tosser. It bears no relation to the reality beyond it. Us lot are too far gone.

[windjc]

The level of bullishness in this thread is bizarre and concerning since I normally factor in a reverse sentiment indicator.

Really? I see a lot of despair.

[Hyperjacked]

Social engineering for fun and profit.
As if our sentiments are an indication of anything. Most of us are dead inside.

Yes. If you're looking for the pulse of cryptoness, this thread is a vast plain of clammy, grey, peeling flesh.

Anyone basing their trades off sentiment here is a tosser. It bears no relation to the reality beyond it. Us lot are too far gone.

Couldn't agree more...

Haven't read this thread in months and of course it's always like Groundhog Day when I return .

[RayX12]

The level of bullishness in this thread is bizarre and concerning since I normally factor in a reverse sentiment indicator.

Really? I see a lot of despair.

Seems like I am the only Bull around here!

GO BITCOIN GO

[RayX12]

The level of bullishness in this thread is bizarre and concerning since I normally factor in a reverse sentiment indicator.

Quite true. Not bizarre at all when you consider it.

 Sentiment has been bullish since the high of 19k, and will likely stay on the plus side (give or take ) until we reach the bear market lows of 2-3k.


It is worth monitoring just in case there is an unexpected change to widespread despair. Try posting positives and negatives in different messages. The responses to bearish posts are the most telling. (Like bullish, Dislike bearish).

The level of bearishness is unreal here starting with you!

[RayX12]

7k isn't going to hold for long
support at 6k maybe ?

Nobody knows what's the bottom.

But I know we are going down and it's unlikely that we are going up again anytime soon.

Another mofo bear!

[RayX12]

Hmm is the blood on the streets yet? Are these Gox coins being liquidated, MtGox coming back to Gox us one (last?) time

No Mt Gox coins moved lately. https://www.cryptoground.com/mtgox-cold-wallet-monitor/ They are still hanging over our head.

And again!  Are you blind mofo!

[Hyperjacked]

The level of bullishness in this thread is bizarre and concerning since I normally factor in a reverse sentiment indicator.

Really? I see a lot of despair.

Seems like I am the only Bull around here!

GO BITCOIN GO

Obviously this thread is entertainment purposes only...

[RayX12]

Pretty fucking obvious a bear as well.  mofo!

[RayX12]

Bitcoin in Q1 2018:

Ayyyy more bears!! 

[Olawale16]

Volume around $50 was insane. The resistance at this price will now be over 9000, or something. it just fustrating

[TERA2]

Volume around $50 was insane. The resistance at this price will now be over 9000, or something. it just fustrating

Yes I remember when I bought at like $51 in 2013 right after about 30K of huge walls suddenly popped up at $50. Unfortunately I sold at $60. What a dumb move.

[yefi]

When bankers run the world behind the scenes controlling the laws and the money printing presses they can own and control anything they wish too.

Bitcoin isn't a problem you can print your way out of. All it will achieve (or all it has achieved) is to make the believers richer and more resolute.

What they want to do is divert money away into paper claims on bitcoins - but they're going to face difficulty on that front.

[explorer]

The level of bullishness in this thread is bizarre and concerning since I normally factor in a reverse sentiment indicator.

Really? I see a lot of despair.

Seems like I am the only Bull around here!

GO BITCOIN GO

Obviously this thread is entertainment purposes only...

LOL what was the final clue?

[coptoandau]

All just started! Unfortunately, when you are like a rabbit, you will run away when you meet old wolves. we need a bigger brain. otherwise it will be forever BTCBTCBTC

[lightfoot]

Eh. Bitcoin is still fucked up, hodling. Everyone's got to complain about something, waah waah.

Then again it's much nicer to be stuck at 7k for a few years than $600.