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

[Vycid]

Alright its time I jump in and ask my obligatory "worried guy" question:

Bought 1BTC @ $717USD.  Do I hold or sell?

I have no strategy, no system, and most definately not a day trader...

FYI, I've "bought in" at a couple of diff price points so my weighted average cost per BTC is about $475...so that combined with my "greedy" nature is telling me to hold even though I'm staring at the blood-red candle sticks on this graph.

Help!  Talk this wanna-be Bull away from the Bear ledge!

Hold. Hold, hold hold. Do you have a bot? Then forget about trying to trade for profit, you're going to get steamrolled by people who know what they are doing.

The market may bleed money over the next days or weeks. Do not worry about it. Look at the 1-year chart and take a deep breath.

Thank me in six months.

[neutrinox]

The money hasn't even arrived yet from all this media attention! We were in top 3 google searches just a few days ago! That's going to be huge, but you need to wait a week patiently!

[adamstgBit]

Alright its time I jump in and ask my obligatory "worried guy" question:

Bought 1BTC @ $717USD.  Do I hold or sell?

I have no strategy, no system, and most definately not a day trader...

FYI, I've "bought in" at a couple of diff price points so my weighted average cost per BTC is about $475...so that combined with my "greedy" nature is telling me to hold even though I'm staring at the blood-red candle sticks on this graph.

Help!  Talk this wanna-be Bull away from the Bear ledge!

if it drops lower sell it    

[worldlybedouin]

Alright its time I jump in and ask my obligatory "worried guy" question:

Bought 1BTC @ $717USD.  Do I hold or sell?

I have no strategy, no system, and most definately not a day trader...

FYI, I've "bought in" at a couple of diff price points so my weighted average cost per BTC is about $475...so that combined with my "greedy" nature is telling me to hold even though I'm staring at the blood-red candle sticks on this graph.

Help!  Talk this wanna-be Bull away from the Bear ledge!

Hold. Hold, hold hold. Do you have a bot? Then forgot about trying to trade for profit, you're going to get steamrolled by people who know what they are doing.

The market may bleed money over the next days or weeks. Do not worry about it. Look at the 1-year chart and take a deep breath.

Thank me in six months.

I've got several bots but sadly I'm not "smart" enough to quite get them configured right. I bought the HaasOnline bot and the Butter Bot.  The various configs I've tried the past couple of times on each have ended up costing me -- so clearly I'm not getting the right variables configured in these to capitalize on the swings.  

I've got 7BTC left...after my bot misfortunes...of which 5BTC is "frozen" in my freezer into an block of ice.  The remaining 2BTC is what I planned to try and work with if it makes sense to try again wth the bots or just to manually trade for myself...

[Vycid]

Alright its time I jump in and ask my obligatory "worried guy" question:

Bought 1BTC @ $717USD.  Do I hold or sell?

I have no strategy, no system, and most definately not a day trader...

FYI, I've "bought in" at a couple of diff price points so my weighted average cost per BTC is about $475...so that combined with my "greedy" nature is telling me to hold even though I'm staring at the blood-red candle sticks on this graph.

Help!  Talk this wanna-be Bull away from the Bear ledge!

Hold. Hold, hold hold. Do you have a bot? Then forgot about trying to trade for profit, you're going to get steamrolled by people who know what they are doing.

The market may bleed money over the next days or weeks. Do not worry about it. Look at the 1-year chart and take a deep breath.

Thank me in six months.

I've got several bots but sadly I'm not "smart" enough to quite get them configured right. I bought the HaasOnline bot and the Butter Bot.  The various configs I've tried the past couple of times on each have ended up costing me -- so clearly I'm not getting the right variables configured in these to capitalize on the swings.  

I've got 7BTC left...after my bot misfortunes...of which 5BTC is "frozen" in my freezer into an block of ice.  The remaining 2BTC is what I planned to try and work with if it makes sense to try again wth the bots or just to manually trade for myself...

I think you should probably cut your losses, man, especially if you're new to trading. I've been doing this successfully in the real world for years and I still don't like technical trading.

But it is fun to watch.

The block of ice is hilarious, BTW. Laminated paper wallet? I might even do that.  

[windjc]

If you compare the charts of the April correction and this one, this one looks a hell of a lot more bullish. In April, the initial crash lost roughly 60% of its price. The second day even lower and the third day it bottomed at about 18% of high 3 days before.

This correction lost about 33% of its value initially and then had a huge snap back recovering almost all its gains on Gox. The 2nd leg down took us to $500 or about 55% of the high.  

Now we are in the 3rd leg down. This will probably establish our low on this correction. If we do not break $500, it will be very bullish. We will probably consolidate and start to move up.

If we break $500 on this next leg down we could go some more legs down.

I think we will know in the next 24-48 hours if this has bottomed out.

[ChartBuddy]

[zero3112]

Stuff going to start to get crazy when do the Chinese wake up?

[worldlybedouin]

Alright its time I jump in and ask my obligatory "worried guy" question:

Bought 1BTC @ $717USD.  Do I hold or sell?

I have no strategy, no system, and most definately not a day trader...

FYI, I've "bought in" at a couple of diff price points so my weighted average cost per BTC is about $475...so that combined with my "greedy" nature is telling me to hold even though I'm staring at the blood-red candle sticks on this graph.

Help!  Talk this wanna-be Bull away from the Bear ledge!

Hold. Hold, hold hold. Do you have a bot? Then forgot about trying to trade for profit, you're going to get steamrolled by people who know what they are doing.

The market may bleed money over the next days or weeks. Do not worry about it. Look at the 1-year chart and take a deep breath.

Thank me in six months.

I've got several bots but sadly I'm not "smart" enough to quite get them configured right. I bought the HaasOnline bot and the Butter Bot.  The various configs I've tried the past couple of times on each have ended up costing me -- so clearly I'm not getting the right variables configured in these to capitalize on the swings.  

I've got 7BTC left...after my bot misfortunes...of which 5BTC is "frozen" in my freezer into an block of ice.  The remaining 2BTC is what I planned to try and work with if it makes sense to try again wth the bots or just to manually trade for myself...

I think you should probably cut your losses, man, especially if you're new to trading. I've been doing this successfully in the real world for years and I still don't like technical trading.

But it is fun to watch.

The block of ice is hilarious, BTW. Laminated paper wallet? I might even do that.  

I would have laminated it but I dont' have a lamination machine.  I just got the paper double bagged in two ziplocks.  That is then folded and put into a small tupperware container...which is water tight...and then frozen.  My bank was asking too much for even their smallest safety deposit box.  I'm actually thinking of thawing it out and sending a copy to my family as a backup...  ONe thing I hadn't thought of is if my apartment building burns down or somethign...or if we have another Hurricane Sandy, I might lose the private keys...so I guess i know what i'm doing this weekend.

[theonewhowaskazu]

GoxBux is not worth holding, most back on the books, building buying pressure until it explodes.  

Wow, the bulls and bears are quite literally chasing each other up the orderbook.

The bears are surely back, but the bulls are far from done.

[DougTanner]

GoxBux is not worth holding, most back on the books, building buying pressure until it explodes.  

Wow, the bulls and bears are quite literally chasing each other up the orderbook.

The bears are surely back, but the bulls are far from done.

Finally a little bit of stability?

Edit: Oh who am I kidding, China is waking up soon. Stability for them means PANIC BUY.

[zero3112]

which is more likely $300 a bitcoin or $2500 should I buy hold or sell?

[neutrinox]

@worldlybedouin

I would be pretty scared playing with crappy printer ink and freezers :/

Why not just make a paper wallet with 2-factor encryption. That way you can make many copies of it without worries and even store some in the cloud. Nobody can use your bitcoins from that wallet without knowing the password.

Edit:

Is fiat starting to flow to stamp, there seems to be a lot of buying pressure?

[Vycid]

Alright its time I jump in and ask my obligatory "worried guy" question:

Bought 1BTC @ $717USD.  Do I hold or sell?

I have no strategy, no system, and most definately not a day trader...

FYI, I've "bought in" at a couple of diff price points so my weighted average cost per BTC is about $475...so that combined with my "greedy" nature is telling me to hold even though I'm staring at the blood-red candle sticks on this graph.

Help!  Talk this wanna-be Bull away from the Bear ledge!

Hold. Hold, hold hold. Do you have a bot? Then forgot about trying to trade for profit, you're going to get steamrolled by people who know what they are doing.

The market may bleed money over the next days or weeks. Do not worry about it. Look at the 1-year chart and take a deep breath.

Thank me in six months.

I've got several bots but sadly I'm not "smart" enough to quite get them configured right. I bought the HaasOnline bot and the Butter Bot.  The various configs I've tried the past couple of times on each have ended up costing me -- so clearly I'm not getting the right variables configured in these to capitalize on the swings.  

I've got 7BTC left...after my bot misfortunes...of which 5BTC is "frozen" in my freezer into an block of ice.  The remaining 2BTC is what I planned to try and work with if it makes sense to try again wth the bots or just to manually trade for myself...

I think you should probably cut your losses, man, especially if you're new to trading. I've been doing this successfully in the real world for years and I still don't like technical trading.

But it is fun to watch.

The block of ice is hilarious, BTW. Laminated paper wallet? I might even do that.  

I would have laminated it but I dont' have a lamination machine.  I just got the paper double bagged in two ziplocks.  That is then folded and put into a small tupperware container...which is water tight...and then frozen.  My bank was asking too much for even their smallest safety deposit box.  I'm actually thinking of thawing it out and sending a copy to my family as a backup...  ONe thing I hadn't thought of is if my apartment building burns down or somethign...or if we have another Hurricane Sandy, I might lose the private keys...so I guess i know what i'm doing this weekend.

Remember, if there are two copies it's twice as easy to steal the coins. Make sure your family knows how to keep it safe, and NO CAMERAS EVER.

[zero3112]

Its very obvious at this point that BTC is back in a upwards trend.

[Vycid]

Its very obvious at this point that BTC is back in a upwards trend.

No it is not.

Leave your emotions behind. This bounce back up is no more meaningful than the drop to $600 was.

Most likely we will correct back toward $650 before we hit $700. If that doesn't happen I will be pleasantly surprised. 

[worldlybedouin]

@Vycid
@neutrinox

Yeah I think you both make a good point. My neanderthal approach to securing my private keys is a telling indicator of my lack of "Bitcoin Sophistication".  

I've been meaning to defrost it anyways, so I might as well setup a proper 2-factor auth set of keys...and send encrypted USB drives to various family members for safe keeping.

Funny, how lazy we get sometimes, but when you stop to put things into context (5BTC * ~$600 = $3,000) makes you remember how hard you struggled to get that $ in the first place and to lose it over something as stupid as Ziplock bags and Gladware containers....shame on me.  

I do have to agree, watching the charts on the exchanges up/down does make for more exciting entertainment than any crap show on "Reality" TV these days.

Cheers mates to your kind advise and setting this noob straight a bit!

[Wekkel]

Its very obvious at this point that BTC is back in a upwards trend.

I see a line from 823 to currently 540 (BTC-E) perfectly downwards. Not looking like a good place to buy right now. Hold, not buy.

[jojo69]

whoop whoop whoop

[seleme]

The only thing that is obvious is that nothing is obvious

And yeah, that I get sick whenever I visit speculation forum during mass bitcoin rises, specially in crash/correction times. It's like one man is opening same threads for years