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

[SheHadMANHands]

when we bubble again, it will not drop anywhere near $800.

Yea, that's a little low, it shouldn't fall much past double the previous bubble's high.

buy now and put your coins in cold storage, in all previous bubbles, the only people who lost money were those who sold

You're preaching to the choir, bro.

oh wow... chills..

[tHash]

buy now and put your coins in cold storage, in all previous bubbles, the only people who lost money were those who sold

You're preaching to the choir, bro.

That bit was for ibrahim11 . . .

[CMMPro]

You guys are all arguing about the fib numbers...

High   1242   
      
Low   212   
      
      
L1   0.00%   1242.0
      
L2   38.20%   848.5
      
L3   50.00%   727.0
      
L4   61.80%   605.5
      
L5   76.40%   455.1
      
L6   100.00%   212.0

[CryptStorm]

I'm pretty sure the trendline mentioned is the one formed with the lease squares method on the log chart over the longest period of available data, not the current parabolic uptrend. Hope that helps.

My point was, any trendline can only describe the past. Whether it can be extrapolated into the future in any meaningful sense is entirely speculative. (Ha ha.) If you were to draw the trend 10 years from now, using the same method, the portion of it corresponding to the market data we've seen up to now might or might not be close to the trendline as drawn now.

Bitcoin is not a conservative market. I'd be very surprised if it conformed to a trend estimated from a few years of data for very long.

Oh, yeah, I totally get what you are saying. Like my brother is fond of saying 'The chart is good until it isn't'. I guess I have more *faith*, while speculating, when I pair my tea leaves with analysis that also includes S-curve adoption. And, THAT trendline is quite stable... so far. By which I mean, not only do we have scads of data on S-Curves, but XRP XBT is fitting the more horizontal portion nicely... so far.

[CMMPro]

What is XRP? Is that what we are calling it lately?

No XBT anymore?

[SheHadMANHands]

What is XRP? Is that what we are calling it lately?

No XBT anymore?

Ripple I believe.

[CMMPro]

Who gives a shit about Ripple?
Why are we even discussing that in here?

[slakeco]

anyone just buy in the last hour over $800? If so, how are you feeling?

[Davyd05]

I think what really happening is the exchange would prefer to let China ride the top for the next while

[thoughtfan]

I'm pretty sure the trendline mentioned is the one formed with the lease squares method on the log chart over the longest period of available data, not the current parabolic uptrend. Hope that helps.

My point was, any trendline can only describe the past. Whether it can be extrapolated into the future in any meaningful sense is entirely speculative. (Ha ha.) If you were to draw the trend 10 years from now, using the same method, the portion of it corresponding to the market data we've seen up to now might or might not be close to the trendline as drawn now.

Bitcoin is not a conservative market. I'd be very surprised if it conformed to a trend estimated from a few years of data for very long.

Oh, yeah, I totally get what you are saying. Like my brother is fond of saying 'The chart is good until it isn't'. I guess I have more *faith*, while speculating, when I pair my tea leaves with analysis that also includes S-curve adoption. And, THAT trendline is quite stable... so far. By which I mean, not only do we have scads of data on S-Curves, but XRP is fitting the more horizontal portion nicely... so far.

And the steeper and higher the steep bit of the S-Curve goes, the bigger will be the necessity to zoom in on the chart as it shows today to see how far off we were in retrospect.  As much respect as I have for rpietila I think his belief that the curve showing in these early days is a reasonable indicator of the future is misguided.  If it becomes true it will either be luck or because enough people believe that will be the pattern that we collectively draw it as such with our trades!

[Davyd05]

anyone just buy in the last hour over $800? If so, how are you feeling?

I bought one or two coins for 900+ last week, still feel good. whats there to worry about? I bought bitcoin in general cause I think its robust and undervalued.

I wonder how people who sold at 650-700 are feeling right now to be honest.

[jonoiv]

Could someone explain in simpleton terms this type of chart please.  I have seen it 100's of times but never understood it.

[Davyd05]

Could someone explain in simpleton terms this type of chart please.  I have seen it 100's of times but never understood it.

bid and ask depth of an exchange

[gandhibt]

anyone just buy in the last hour over $800? If so, how are you feeling?

I bought one or two coins for 900+ last week, still feel good. whats there to worry about? I bought bitcoin in general cause I think its robust and undervalued.

I wonder how people who sold at 650-700 are feeling right now to be honest.

if those people buy now they have "lost" money just like you "lost" when you bought 900+ and not now, i'm not trying to be a smart ass, just telling numbers

[jonoiv]

Could someone explain in simpleton terms this type of chart please.  I have seen it 100's of times but never understood it.

bid and ask depth of an exchange

Thank You!

So from the chart it means there are more people waiting to sell above the current price than there are people wanting to buy below the current price?

Is the chart Gox or another exchange ?

[Spaceman_Spiff]

bid and ask depth of an exchange

Thank You!

So from the chart it means there are more people waiting to sell above the current price than there are people wanting to buy below the current price?

Is the chart Gox or another exchange ?

gox

[Davyd05]

anyone just buy in the last hour over $800? If so, how are you feeling?

I bought one or two coins for 900+ last week, still feel good. whats there to worry about? I bought bitcoin in general cause I think its robust and undervalued.

I wonder how people who sold at 650-700 are feeling right now to be honest.

if those people buy now they have "lost" money just like you "lost" when you bought 900+ and not now, i'm not trying to be a smart ass, just telling numbers

I lost about as much as I was up a week ago.. a week from now it can all change.. I don't lose till I sell derP?

Not debating that I lost if I sold now and they would lose if they bought back in now. It's the mentality that these bears are pushing SELL NOW CAUSE WERE GOING DOWN, DOWN, DOWN which if it catches on happens.. all the while strong hands and China are buying these coins as well as any bear who sold from 1200-850 even.. why line their pockets with fiat and btc.

I am not against anyone who took profits at the higher prices, I think they made the right call. Just its not helping to spread the late panic logic after the real money has been made by those on the ball

[NewLiberty]

We're all gonna die!  On another note, I chopped down a tree this morning, well chainsawed it anyway.  Was indeed fun.  I don't think a lot of those that expect a crash greater than 61.8% understand the sheer amount of money that was and is still coming in.  Over 225 Million dollars has changed hands in the last three days alone, just on Mt. Gox along with 2.25 Billion Yuan (~367,000,000 USD) on BTC China.

Every time in the last 5 months this happened, it marked a local bottom

[ChartBuddy]

[slakeco]

looks like a couple of whales trying to keep prices down on gox.