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

[Theb]

Is it just me or Bitcoin is forming a big cup ad handle pattern? At the 4 hour chart the Cup started around March 12 (9,815$) and ended on May 5 (9,850$) and now we are currently forming the handle. Bitcoin is looking very bearish right now and the cup and handle is the only thing I am seeing as a bullish sign in Bitcoin. And speaking how the way it looks where the cup is not well rounded as it should be forming  and with the candles forming like a "W" shape as a based I don't think even if we break out this up trend reversal won't last or will it even break the 11,700$ resistance. A Good Cup and Handle patterns should follow the well-rounded shape where the candles won't stray away from the formation which in this case is not.

[RealMachasm]

IT'S OVER 3000!

https://coinatmradar.com

With a +7-10% buy premium, people will never use them though.

it shows two within a 30 mile radius of me. might have to buy some at one of them just for the lulz as ive never used (or even seen) a btc atm yet.

actually, I think I'm going to drive over and dump a C note in one just to check it out

my thinking exactly.

Just had a look at the site now and there appears to be one located about 4 miles from me. The rates are pretty ridiculous though at £7332 to buy and £5616 to sell. Current spot price on Kraken is £6238. That is one hell of a markup.

[RealMachasm]

I began using computers when I bought my first ZX81 kit and built it.
It had a whopping 1K of RAM and programs could be saved and loaded to audio cassette tapes which was a real hit and miss affair.
Progression from there was the ZX spectrum, BBC micro, Commodore 64, Atari ST 400 (I think), Apple Macintosh....... modern day PCs.
Still, fun days.

[jojo69]

cash level anonymity has its price

do it while you still can

[DaRude]

IT'S OVER 3000!

https://coinatmradar.com

With a +7-10% buy premium, people will never use them though.

This is not true.  People will use them for the novelty of owning bitcoin, or for buying very small amounts.  Or because they don't have a better way to do it.

But I agree with the spirit of your post.  Until these things begin to become competitive they will stay in the general realm of being a novelty.

TBH I'm not sure what these Bitcoin ATM operators are thinking with having those premiums so high. I assume it's an attempt to recoup the cost of the ATM itself maybe? But they would do well to get those buy premiums down to at least 2-3%, otherwise people will just jump online to do it.

Guessing it's tailored for the silkroad crowd. That's still a thing right???

[buyandhold]

IT'S OVER 3000!

https://coinatmradar.com

With a +7-10% buy premium, people will never use them though.

This is not true.  People will use them for the novelty of owning bitcoin, or for buying very small amounts.  Or because they don't have a better way to do it.

But I agree with the spirit of your post.  Until these things begin to become competitive they will stay in the general realm of being a novelty.

TBH I'm not sure what these Bitcoin ATM operators are thinking with having those premiums so high. I assume it's an attempt to recoup the cost of the ATM itself maybe? But they would do well to get those buy premiums down to at least 2-3%, otherwise people will just jump online to do it.

Guessing it's tailored for the silkroad crowd. That's still a thing right???

Still a thing. Now called Tochka. Even has an ICO.
https://mail.google.com/mail/u/0/?ui=2&ik=3cbcd4e1a9&view=lg&msg=16354bf73ceff838
[New post] Darknet Markets and the Shadow Economy

[jojo69]

what?

no way!

drugs are over man. haven't you heard?

[kaicrypzen]

IT'S OVER 3000!

https://coinatmradar.com

With a +7-10% buy premium, people will never use them though.

This is not true.  People will use them for the novelty of owning bitcoin, or for buying very small amounts.  Or because they don't have a better way to do it.

But I agree with the spirit of your post.  Until these things begin to become competitive they will stay in the general realm of being a novelty.

TBH I'm not sure what these Bitcoin ATM operators are thinking with having those premiums so high. I assume it's an attempt to recoup the cost of the ATM itself maybe? But they would do well to get those buy premiums down to at least 2-3%, otherwise people will just jump online to do it.

Fees may not be the only deciding factor here, some people are prepared to pay these fees, why would they? one may ask. Maybe they are looking for something tangible as a first experience in buying Bitcoin and they don't necessarily exchange big money so in the end the fee is not that high. Moreover, people may be more familiar with ATMs (as they use them to get fiat) and they deliver immediately, no need to wait for your wire transfer, you walk in with fiat and walk out with Bitcoin and vice-versa. I don't know if ATMs need some kind of verification, yet if they do, it is probably a bit more private than when you use your bank account, scan your passport and make a selfie to be able to exchange ... Also, ATMs may be the only way in some countries to get Bitcoin. It all comes down to how much one values these things and how fast they need to do the exchange I think.
Maybe someone who already used (still uses) Bitcoin ATMs can share their experience?

[btcbeliever]

Definitely encouraging price move, 2 decidedly green consecutive daily candles.

Could this be the beginning of a break upwards penetrating $10,000?

[FractalUniverse]

Definitely encouraging price move, 2 decidedly green consecutive daily candles.

Could this be the beginning of a break upwards penetrating $10,000?

Daily is still showing only inside bar for now, color is not much relevant in this case.. can be just calm before continuing downtrend. I'll believe its breakout upwards when i see one

[JayJuanGee]

They say sell in May and go away. I bought (quite a lot) and I am here to stay: always the sum I am not afraid to lose. We will see how this unfolds: still bullish

I panic-bought TFD at $8340 so I can sleep better this weekend. Not that it matters a year from now.

Are you suggesting that a year from now, BTC prices are going to be at such a level (higher than now) that the difference between buying at $8,340 and buying at $9,340 is not going to make a very BIG difference? 

What kind of BTC price are you thinking?  Somewhere north of $20k?   

I personally am thinking that if we get another exponential BTC price rise before a year from now, then there are decent chances that testing of BTC price support would stay above $20k, but surely nothing in BTClandia has any kind of certainty... and I suppose, even a decently played out bullish price movement scenario that pulls bitcoin into the $100k price territory within a year or so, would have decent potentialities of returning to test price support areas below $20k.

yep...I see it going sideways at best for till the end of the year...my view is that mt. gox has to wrap up the liquidation from the trustee's point of view (for them to get paid

and done with the liquidation) by the end of this year....is my guess ....thus 1.9 Billion BTC to USD in the next 8 months that 'pig' has to be digested by the Bitcoin Python

can it be done, don't know...but if it can be and the price goes sideways..that is my best case...at the way mt. gox trustee always panic sells on exchanges directly and kills his

own price point, by the mass of BTC he moves, and always selling on the low/drop in price (panic sells)...BTC IMHO could go as low as 3k IMHO...

NOW IF ...the mt. gox trustees sold outside of exchanges (most likely the folk would hold) and stated they are going to move so much coin in increments on a time frame

till the end of the year at best manner possible...then perhaps..it would not matter and the price could go up...but with the cluelessness or just plain spite these 'banker connected' lawyers

liquidating mt gox have taken...I sometimes wonder if they are not making  this a 'train wreck' just so when they go back to representing the Japanese banks they can show

they f*cked the BTC ecosystem as much as legally possible on this liquidation...

For a long time bitcoiner, you surely do seem to have a decent ability to buy into a lot of the mainstream media FUD regarding one factor that is supposedly keeping BTC prices down.   Sounds like a lot of nonsense to me, because surely the GOX trustee does not have enough coins to meaningfully effect overall BTC markets - more or less a blip on the radar screen in the overall scheme of things. 

On the other hand, bitcoin does remain in a price correction situation, so yes, there is a certain amount of upwards momentum that is needed to break back into the 5 digits and to get the price momentum moving up, rather than either sideways or down.

[4rt3m]

Surprised that Germany is so deeply interested in Bitcoin, thought that Asia (Korea, China) would be on the top:

https://bitnodes.earn.com

[kaicrypzen]

yep...I see it going sideways at best for till the end of the year...my view is that mt. gox has to wrap up the liquidation from the trustee's point of view (for them to get paid

and done with the liquidation) by the end of this year....is my guess ....thus 1.9 Billion BTC to USD in the next 8 months that 'pig' has to be digested by the Bitcoin Python

can it be done, don't know...but if it can be and the price goes sideways..that is my best case...at the way mt. gox trustee always panic sells on exchanges directly and kills his

own price point, by the mass of BTC he moves, and always selling on the low/drop in price (panic sells)...BTC IMHO could go as low as 3k IMHO...

NOW IF ...the mt. gox trustees sold outside of exchanges (most likely the folk would hold) and stated they are going to move so much coin in increments on a time frame

till the end of the year at best manner possible...then perhaps..it would not matter and the price could go up...but with the cluelessness or just plain spite these 'banker connected' lawyers

liquidating mt gox have taken...I sometimes wonder if they are not making  this a 'train wreck' just so when they go back to representing the Japanese banks they can show

they f*cked the BTC ecosystem as much as legally possible on this liquidation...

For a long time bitcoiner, you surely do seem to have a decent ability to buy into a lot of the mainstream media FUD regarding one factor that is supposedly keeping BTC prices down.   Sounds like a lot of nonsense to me, because surely the GOX trustee does not have enough coins to meaningfully effect overall BTC markets - more or less a blip on the radar screen in the overall scheme of things. 

On the other hand, bitcoin does remain in a price correction situation, so yes, there is a certain amount of upwards momentum that is needed to break back into the 5 digits and to get the price momentum moving up, rather than either sideways or down.

There is no doubt news are used to spread FUD for the benefit of those who want cheap Bitcoin. However the trustee does have a sizable amount of Bitcoins, he surely can wreak havoc on the market (at some extent). Here is a website that tracks what is supposed to be Mtgox addresses: https://www.cryptoground.com/mtgox-cold-wallet-monitor. You can also take a look at the trustee's report detailing his sales: https://www.mtgox.com/img/pdf/20180307_report.pdf. You can even try to find a correlation between what he sold and Bitcoin's price movement since its ATH.
Anyway, I think it's important to be aware of these kinda things without necessarily leaving in fear, uncertainty and doubt.

[Speculatoross]

Just realized why you all want a Lamborghini.
Ferrari is owned by Fiat

[4rt3m]

Just realized why you all want a Lamborghini.
Ferrari is owned by Fiat

Also bull on logo. And Lamborghini give most of their cars names of corrida's bulls: Diablo, Gallardo, Murcielago, Aventador, Huracan etc. Miura is famous Spanish bull breeder. Good analogy to bullish markets.

[BTCMILLIONAIRE]

Just realized why you all want a Lamborghini.
Ferrari is owned by Fiat

Nice meme

[vapourminer]

I began using computers when I bought my first ZX81 kit and built it.
It had a whopping 1K of RAM and programs could be saved and loaded to audio cassette tapes which was a real hit and miss affair.
Progression from there was the ZX spectrum, BBC micro, Commodore 64, Atari ST 400 (I think), Apple Macintosh....... modern day PCs.
Still, fun days.

had a timex-sinclair 1000 (basically a zx-81 that was prebuilt for usa market) with the 16k ram pack and that sparky printer. still have it somewhere. the sparky printer was pretty cool.

the ram pack connection was so wobbly (instant lockup if you even breathed on it) i wound up hot gluing the whole thing to a piece of wood.

ts1000 -> vic20 -> c64 -> columbia 8088 with (eventually) a 30 megabyte rll drive woot! (1st ibm pc clone) -> ibm at -> self built from there  (386sx and onward).

also had a programmable hp calculator back around the late '70s but it didnt have the stripe reader, i had to code moon lander in by hand each time so i would never never turn it off rofl.

[Karartma1]

Just realized why you all want a Lamborghini.
Ferrari is owned by Fiat

Nice meme

I didn't get it. What the heck is wrong with having a Ferrari and being a bitcoiner.
Are you joking with Fiat as in fiat money? Explain I'm curious

[Speculatoross]

Just realized why you all want a Lamborghini.
Ferrari is owned by Fiat

Nice meme

I didn't get it. What the heck is wrong with having a Ferrari and being a bitcoiner.
Are you joking with Fiat as in fiat money? Explain I'm curious

Fiat as Fiat spa, company that own Ferrari:)

Less funny when explained lol

[xhomerx10]

Just realized why you all want a Lamborghini.
Ferrari is owned by Fiat