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

[seleme]

The daily charts look horrible - EMA violated, MACD down, parabolic sar flipped, RSI below 70. But it looks like perhaps we're still being supported by "choo choo mofo" trendline we've had since day 1 of ATH break. I wonder if this trendline could slowly drive us to ATH? This would probably be the last breakout since that trend would be moving too slow to keep up with any significant higher levels.

Technical people have done absolutely horribly in the past in this forum. I don't know of anyone who has made more bitcoins compared to buy&hold over any extended period of time (even 12 months, which does not prove anything really).

Yes - I mean it: I don't know any technical trader who has not lost money, meaning that all his effort has been in vain and harmful, compared to one who just holds.

If I did buy and hold I'd still have 7 BTC. I didn't, I traded like there's no tomorrow (alts vs btc mainly) and if everything goes as planned I'd probably own 300-400 BTC some time Q1 2014. 200 almost guaranteed if I'd be live at that time.

It had nothing with TA though. Making money on alt pumps and dumps has heck all with TA, it's much easier than that.

Calculating future returns based on past successes of pump and dump schemes... Never seen such delusion in my life!

Throw this to my face when you make your BTC300-400.

I know why I am calculating it and don't really care what you would think if I'd gain that at that point or not so no, I won't necessarily throw that to your face then.

But let's forget that part for the moment - if I'd buy and hold I'd still have 7 BTC, I didn't, I traded as there's no tomorrow and currently have some 150 BTC.

You see, the point is exactly the same.

Buy and hold bullshit could be said only by deluded idiots who bought at single digits or around and assume those that buy at 1200$ are at same position as them. If I bought at 5$ I'd probably not trade or would at least do some long term investments in some alts or securities. Since I'm not, the only option for me to gain any significant amount of bitcoins was to not buy and hold but to trade until I can move my fingers. I don't give a shit about owning 5 or 10 bitcoins. I'll have hundreds of them or none.

[rpietila]

But let's forget that part for the moment - if I'd buy and hold I'd still have 7 BTC, I didn't, I traded as there's no tomorrow and currently have some 150 BTC.

You see, the point is exactly the same. Buy and hold bullshit could be said only by deluded idiots who bought at single digits or around and assume those that buy at 1200$ are at same position as them.

Of course the nowcomers are 2-3 orders of magnitude behind, but still very well off compared to the ones coming when it's $100/mBTC, and also they have more than the ones who only buy at "2 month's work"/mBTC. Striving to attain the next level in the log chart of bitcoin holdings is very difficult and I am sad that smart people do scams and pump and dumps instead of being satisfied with what they have and living in peace.

Reason I am saying this is that 0.01% of people professionally work as brokers. For all of the rest, it represents a significant diversion of effort from more important things in their life to following the USDBTC rate from a screen, not exactly an improvement in living standards. Furthermore, as a result of this effort, everyone (or perhaps a number tending to 99.9% when duration tends to infinity) loses money.

[beetcoin]

  funny comment.. "i could be a millionaire now if i had only bought at its lowest point and sold at its highest" ... no offense, but no shit. this logic does not apply unless you actually own a time machine.

[rpietila]

I don't give a shit about owning 5 or 10 bitcoins. I'll have hundreds of them or none.

So you don't "give a shit" to be among 10,000-30,000 world's richest. Top 100 or top 300 is the way to go. Yes, you seem to be a megalomaniac and a player. I think I could easily adapt to any of the levels, as could most of us.

* top 30 would have BTC5,000 or more (100 billion USD)
* top 300 would have BTC500 or more (10 billion USD)
* top 3,000 would have BTC50 or more (1 billion USD)
* the top 29,000 people would have 5,000mBTC or more, a huge fortune comparable to 100 million of today's dollars.
* the top 1 million people would have 500mBTC or more, corresponding to 10 million or more dollars
* 29 million people have at least 50mBTC, which puts them among the most affluent 0.6%, previously called 'millionaires'
* the upper middle class of 350 million people worldwide, owns 5mBTC or more
* lower middle class consists of 1 billion people is characterized by ownership of 0.5mBTC or more
* the lower class of (3+ billion) owns less than 0.5mBTC including people who don't have any or have negative worth.

[TERA]

The daily charts look horrible - EMA violated, MACD down, parabolic sar flipped, RSI below 70. But it looks like perhaps we're still being supported by "choo choo mofo" trendline we've had since day 1 of ATH break. I wonder if this trendline could slowly drive us to ATH? This would probably be the last breakout since that trend would be moving too slow to keep up with any significant higher levels.

Technical people have done absolutely horribly in the past in this forum. I don't know of anyone who has made more bitcoins compared to buy&hold over any extended period of time (even 12 months, which does not prove anything really).

Yes - I mean it: I don't know any technical trader who has not lost money, meaning that all his effort has been in vain and harmful, compared to one who just holds.

I now have 50 times as many bitcoins as I did in April. No deposits. Yes I am up 25,000%.

It might not be due to TA though, but more about quick reactions and having a feeling about the flow the order books are moving in and when they're reversing.

[BitThink]

The daily charts look horrible - EMA violated, MACD down, parabolic sar flipped, RSI below 70. But it looks like perhaps we're still being supported by "choo choo mofo" trendline we've had since day 1 of ATH break. I wonder if this trendline could slowly drive us to ATH? This would probably be the last breakout since that trend would be moving too slow to keep up with any significant higher levels.

Technical people have done absolutely horribly in the past in this forum. I don't know of anyone who has made more bitcoins compared to buy&hold over any extended period of time (even 12 months, which does not prove anything really).

Yes - I mean it: I don't know any technical trader who has not lost money, meaning that all his effort has been in vain and harmful, compared to one who just holds.

I now have 50 times as many bitcoins as I did in April. No deposits. Yes I am up 25,000%.

It might not be due to TA though, but more about quick reactions and having a feeling about the flow the order books are moving in and when they're reversing.

Maybe you are the one behind coin.io scandal, or you are the guy turn JustDice to negative?

Otherwise, you doubled your coin every month for a row for 8 months. That can be a record.

[TERA]

Discovering margin trading helped a lot too.  I don't even really have to sell or think about when to sell my core position. I just wait for any kind of a sharp drop and then as soon as high volume support starts kicking in I buy a huge margin position using my btc as collateral. Then as soon as the immediate bounce is over I close the position, take the ~15% profit, and buy more bitcoins to add to my core position. I might not be getting the most profit on the margin position possible but it covers my ass both in event of an uptrend or a downtrend. It's kind of a compromise between buy and hold, since I'm never actually selling any 'real' bitcoins.

[maz]

I don't give a shit about owning 5 or 10 bitcoins. I'll have hundreds of them or none.

So you don't "give a shit" to be among 10,000-30,000 world's richest. Top 100 or top 300 is the way to go. Yes, you seem to be a megalomaniac and a player. I think I could easily adapt to any of the levels, as could most of us.

* top 30 would have BTC5,000 or more (100 billion USD)
* top 300 would have BTC500 or more (10 billion USD)
* top 3,000 would have BTC50 or more (1 billion USD)
* the top 29,000 people would have 5,000mBTC or more, a huge fortune comparable to 100 million of today's dollars.
* the top 1 million people would have 500mBTC or more, corresponding to 10 million or more dollars
* 29 million people have at least 50mBTC, which puts them among the most affluent 0.6%, previously called 'millionaires'
* the upper middle class of 350 million people worldwide, owns 5mBTC or more
* lower middle class consists of 1 billion people is characterized by ownership of 0.5mBTC or more
* the lower class of (3+ billion) owns less than 0.5mBTC including people who don't have any or have negative worth.

I like your way of breaking it down.

I have been advocating to new comers to strive to attain the Bitcoin Millionth Club. Basically you need to own 21 btc, this will make you 1 in a million people on the earth who could possibly own 1 million of all future available bitcoins. Obviously we know the numbers will be massively different due to mining time and bitcoin loss over the years, but its an attainable number and would offer massive wealth in the future. Imagine you owned 1 millionth of several of the worlds largest countries currency? Happy days!

[micalith]

The daily charts look horrible - EMA violated, MACD down, parabolic sar flipped, RSI below 70. But it looks like perhaps we're still being supported by "choo choo mofo" trendline we've had since day 1 of ATH break. I wonder if this trendline could slowly drive us to ATH? This would probably be the last breakout since that trend would be moving too slow to keep up with any significant higher levels.

And meanwhile Stamp chews through $1000 yet again. Bitcoin chews up TA as well.

when TA doesn't look good and fear the tide may turn, those big whales who follow TA will want to realize that profit. That is why bulls are getting beaten on every rally they try to make since yesterday. 1100 is still resisting..

Not so sure it's down to resistance so much as the general meandering of indecisive sideways motion. If/when that tiny wall at 1100 finally drops, I would expect a gradual rally acceleration

edit: worst timed post ever!   

[BitThink]

Discovering margin trading helped a lot too.  I don't even really have to sell or think about when to sell my core position. I just wait for any kind of a sharp drop and then as soon as high volume support starts kicking in I buy a huge margin position using my btc as collateral. Then as soon as the immediate bounce is over I close the position, take the ~15% profit, and buy more bitcoins to add to my core position. I might not be getting the most profit on the margin position possible but it covers my ass both in event of an uptrend or a downtrend. It's kind of a compromise between buy and hold, since I'm never actually selling any 'real' bitcoins.

You need to earn 15% profit in a row for 40 times to get 25000%. That's really amazing. How many flash crashes do we have since April?

[maz]

Discovering margin trading helped a lot too.  I don't even really have to sell or think about when to sell my core position. I just wait for any kind of a sharp drop and then as soon as high volume support starts kicking in I buy a huge margin position using my btc as collateral. Then as soon as the immediate bounce is over I close the position, take the ~15% profit, and buy more bitcoins to add to my core position. I might not be getting the most profit on the margin position possible but it covers my ass both in event of an uptrend or a downtrend. It's kind of a compromise between buy and hold, since I'm never actually selling any 'real' bitcoins.

You need to earn 15% profit in a row for 40 times to get 25000%. That's really amazing. How many flash crashes do we have since April?

Are you saying you smell bullshit? is that what your saying?

[Nemo1024]

Discovering margin trading helped a lot too.  I don't even really have to sell or think about when to sell my core position. I just wait for any kind of a sharp drop and then as soon as high volume support starts kicking in I buy a huge margin position using my btc as collateral. Then as soon as the immediate bounce is over I close the position, take the ~15% profit, and buy more bitcoins to add to my core position. I might not be getting the most profit on the margin position possible but it covers my ass both in event of an uptrend or a downtrend. It's kind of a compromise between buy and hold, since I'm never actually selling any 'real' bitcoins.

You need to earn 15% profit in a row for 40 times to get 25000%. That's really amazing. How many flash crashes do we have since April?

 I think there were only 4 or 5, counting the recent 2.

[BitThink]

I don't give a shit about owning 5 or 10 bitcoins. I'll have hundreds of them or none.

So you don't "give a shit" to be among 10,000-30,000 world's richest. Top 100 or top 300 is the way to go. Yes, you seem to be a megalomaniac and a player. I think I could easily adapt to any of the levels, as could most of us.

* top 30 would have BTC5,000 or more (100 billion USD)
* top 300 would have BTC500 or more (10 billion USD)
* top 3,000 would have BTC50 or more (1 billion USD)
* the top 29,000 people would have 5,000mBTC or more, a huge fortune comparable to 100 million of today's dollars.
* the top 1 million people would have 500mBTC or more, corresponding to 10 million or more dollars
* 29 million people have at least 50mBTC, which puts them among the most affluent 0.6%, previously called 'millionaires'
* the upper middle class of 350 million people worldwide, owns 5mBTC or more
* lower middle class consists of 1 billion people is characterized by ownership of 0.5mBTC or more
* the lower class of (3+ billion) owns less than 0.5mBTC including people who don't have any or have negative worth.

I like your way of breaking it down.

I have been advocating to new comers to strive to attain the Bitcoin Millionth Club. Basically you need to own 21 btc, this will make you 1 in a million people on the earth who could possibly own 1 million of all future available bitcoins. Obviously we know the numbers will be massively different due to mining time and bitcoin loss over the years, but its an attainable number and would offer massive wealth in the future. Imagine you owned 1 millionth of several of the worlds largest countries currency? Happy days!

Although being a bull myself. I still don't think this kind of analysis makes sense. It's only meaningful if BTC is the only wealth in the world. Otherwise, it may help you to be rich, but these kind of ranking does not make sense. Bill Gates may have 0 BTC, but billions of fiats or microsoft shares. Kings in the middle east may have no BTC but have plenty of oil.

[ChartBuddy]

[mmitech]

I will add this to the good news http://www.coindesk.com/zipzap-offer-cash-bitcoin-service-28000-uk-locations/

[lucas.sev]

I will add this to the good news http://www.coindesk.com/zipzap-offer-cash-bitcoin-service-28000-uk-locations/

was mentioned before, turned out to be old news from june

[mmitech]

I will add this to the good news http://www.coindesk.com/zipzap-offer-cash-bitcoin-service-28000-uk-locations/

was mentioned before, turned out to be old news from june

I've read this only today !! if this will work out, bitcoin will be available for the average consumer, people who doesn't know how to use an exchange will have the chance to invest as well.

[maz]

I don't give a shit about owning 5 or 10 bitcoins. I'll have hundreds of them or none.

So you don't "give a shit" to be among 10,000-30,000 world's richest. Top 100 or top 300 is the way to go. Yes, you seem to be a megalomaniac and a player. I think I could easily adapt to any of the levels, as could most of us.

* top 30 would have BTC5,000 or more (100 billion USD)
* top 300 would have BTC500 or more (10 billion USD)
* top 3,000 would have BTC50 or more (1 billion USD)
* the top 29,000 people would have 5,000mBTC or more, a huge fortune comparable to 100 million of today's dollars.
* the top 1 million people would have 500mBTC or more, corresponding to 10 million or more dollars
* 29 million people have at least 50mBTC, which puts them among the most affluent 0.6%, previously called 'millionaires'
* the upper middle class of 350 million people worldwide, owns 5mBTC or more
* lower middle class consists of 1 billion people is characterized by ownership of 0.5mBTC or more
* the lower class of (3+ billion) owns less than 0.5mBTC including people who don't have any or have negative worth.

I like your way of breaking it down.

I have been advocating to new comers to strive to attain the Bitcoin Millionth Club. Basically you need to own 21 btc, this will make you 1 in a million people on the earth who could possibly own 1 million of all future available bitcoins. Obviously we know the numbers will be massively different due to mining time and bitcoin loss over the years, but its an attainable number and would offer massive wealth in the future. Imagine you owned 1 millionth of several of the worlds largest countries currency? Happy days!

Although being a bull myself. I still don't think this kind of analysis makes sense. It's only meaningful if BTC is the only wealth in the world. Otherwise, it may help you to be rich, but these kind of ranking does not make sense. Bill Gates may have 0 BTC, but billions of fiats or microsoft shares. Kings in the middle east may have no BTC but have plenty of oil.

After watching a program about rich Saudi kids coming to London for 3 months out of the year to flaunt their wealth, it was sobering to hear one of the kids at the end (on his way home to Saudi) explain that he would give all the wealth of his country to swap Saudi for the beautiful city of London, compared to the rich oil desert landscape of Saudi. Kings in the middle east may be fiat based billionaires, but they wont be bitcoin billionaires. What would you rather be in future?

[Shak]

425 btc sell wall on bitstamp at 985

edit: wall pushes the price further down, now at 982

[solex]

425 btc sell wall on bitstamp at 985

500 came in at 1002, and is moving down. Someone wants to exit.