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

[Torque]

Every Bitcoin rally is a form of 'nominal confusion' to the Average Joe.

Up 20X, then retrace back down 75%.

Up 20X, then retrace back down 75%.

Yet somehow Bitcoin's value in fiat terms continues to climb higher and higher YoY, never to return to previous values.

Funny that.

[dmwardjr]

I checked the charts this morning, not exactly the asian pump I was hoping for, I guess these things take time.

What anyone is about to read here is provided in an example of 12h and 24h charts below the two following paragraphs:

An important rule when using Stochastic RSI is to not only use an LSMA (Liquid Square Moving Average) to try to get an idea if a particular movement (whether up or down) will be prolonged or not; it's also important to check out a higher time frame when the Stochastic RSI has bottomed out to see if it could continue with downward pressure further - OR - when the Stochastic RSI has or is approaching a peak high at 100% level, we should look at a higher time frame to get an idea if it may continue with upside pressure even longer. The LSMA (Liquid Square Moving Average) is an additional tool we use to get an idea if a particular move (up or down) will continue or if it is close to completion.

If I see the Stochastic RSI in a time frame is bottomed out and a higher time frame shows there is more room to come down, this is a good indication that the price action may pause or move up slightly before continuing down.

https://www.tradingview.com/chart/BTCUSD/P07Gk3YT-Wyckoff-Accumulation-Schematic-Chart-pasted-again-in-comments/

[STT]

The volume seems to confirm we are flat to still in momentum.   Sure we have peak on that which in the autumn was bullish but now the volume has generally shown a drop since Feb.    Stagnation more then triggering anything significant from that point, like capitulation should be.

I've been too negative in my outlook a few times in the past.   News happening elsewhere in the globe is just as important then anything Im aware of.  Just looks very still to me.

If I draw in a downtrend just for speculation, its lying outside that and could confirm that as a base to rise from.  

[cAPSLOCK]

Meta idea: since people are always making price predictions, I was thinking that it'd be cool to add a "Speculation score" number under your posts/merit/activity while in the speculation section, with the score based on some continuously-running price prediction game. I probably don't have time to develop a game like that, though. But if someone else creates it off-site with the necessary APIs, your site could provide the scores for the forum. Anyone want to create it?

Doom isn't really a number. This is why I have such a hard time with the poll we already have.

Doom most certainly is a number.  We just do not know what it is.  In fact it may be a series of numbers.

Calling all ye boiled frogs!

[qwizzie]

Doom most certainly is a number.  We just do not know what it is.  In fact it may be a series of numbers.

 I believe Doom can be best expressed as

-∞^{^3}

I used to play the crap out of Doom, those good old days.
Doom can be overwon !! You just need enough ammo...

[bitserve]

Hodling is depressing in times like this. I didn't feel it hurt so badly in 2014 but probably it is because I hadn't that much money paper profits at stake... Also moving onto other things and not checking the price as I did during that bear market probably helped in comparison.

What was that clinic for trading addiction someone mentioned before?

Not sure if I really need it, because my little trading is doing fine... it's my cold wallet that is being brutally hit what concerns me.

[Torque]

Hodling is depressing in times like this.... it's my cold wallet that is being brutally hit what concerns me.

Just think about the WinkleVii's or Tim Draper's cold wallet and you'll feel a whole lot better. 

[Vlada69]

Did anyone occur a thing that little rocket man finally got to import few groceries for his people so they don't dispose of him?

[RayX12]

Hodling is depressing in times like this. I didn't feel it hurt so badly in 2014 but probably it is because I hadn't that much money paper profits at stake... Also moving onto other things and not checking the price as I did during that bear market probably helped in comparison.

......

Agreed but if it goes much lower than this I will be buying a lot more BTC by taking a huge loan.... salivating! 

[bitserve]

Hodling is depressing in times like this.... it's my cold wallet that is being brutally hit what concerns me.

Just think about the WinkleVii's or Tim Draper's cold wallet and you'll feel a whole lot better.  

I tried. But it doesn't help. Still having more money than you could probably spend (as such whales do) is not that terrible even if your net worth gets a cut of several hundred millions. Maybe I am wrong, but I don't think they are as much depressed as I am right now.

I keep repeating it but... If we could act as if that $20K peak never happened (so ridiculously soon) I would be pretty happy right now. That's the only thing that helps for me.

I played this past peak much worse than I did the previous (2013) in which I doubled my Bitcoin count. The blame is on me (or my greed).

P.S.: No, not going to break/sell. I can perfectly (and depressedly) ride this thing until ZERO. I am more worried about the amount of profits already (even if temporarily?) lost than what I still have to lose (which is LESS).

[gembitz]

Meta idea: since people are always making price predictions, I was thinking that it'd be cool to add a "Speculation score" number under your posts/merit/activity while in the speculation section, with the score based on some continuously-running price prediction game. I probably don't have time to develop a game like that, though. But if someone else creates it off-site with the necessary APIs, your site could provide the scores for the forum. Anyone want to create it?

Doom isn't really a number. This is why I have such a hard time with the poll we already have.

Doom most certainly is a number.  We just do not know what it is.  In fact it may be a series of numbers.

Calling all ye boiled frogs!

seriously though I don't know if Bitcoin could go to a really low number, just for speculations, even if Bitcoin somehow died you'd want to buy and hold it at a low price due to possible upcoming forks that you'd be able reap rewards from.

bitcoin can go to zero and bitcoin will still be useful lol ~ n00bs NEVER listen!!

[Robin,Hood]

Just think about the WinkleVii's or Tim Draper's cold wallet and you'll feel a whole lot better.  

I tried. But it doesn't help. Still having more money than you could probably spend (as such whales do) is not that terrible even if your net worth gets a cut of several hundred millions. Maybe I am wrong, but I don't think they are as much depressed as I am right now.

Let's try to examine this from another perspective.

Are you still an "accidental multi-millionaire" because of your BTC holdings ?

If Yes, adjust belt-buckle, make sure testicles are comfortable, and chill out for a while.

If No, try to see the bigger picture. 21 Million is a finite number that cannot be changed. Please try to remain patient. HODL on.

It requires determination, skill and technical knowledge to become bitcoin wealthy and not an accident. 
Accidentally you my end up with a winning lottery ticket you bought in a drunken delirium stage.

[Rosewater Foundation]

Hodling is depressing in times like this.... it's my cold wallet that is being brutally hit what concerns me.

Just think about the WinkleVii's or Tim Draper's cold wallet and you'll feel a whole lot better.  

I tried. But it doesn't help. Still having more money than you could probably spend (as such whales do) is not that terrible even if your net worth gets a cut of several hundred millions. Maybe I am wrong, but I don't think they are as much depressed as I am right now.

I keep repeating it but... If we could act as if that $20K peak never happened (so ridiculously soon) I would be pretty happy right now. That's the only thing that helps for me.

I played this past peak much worse than I did the previous (2013) in which I doubled my Bitcoin count. The blame is on me (or my greed).

P.S.: No, not going to break/sell. I can perfectly (and depressedly) ride this thing until ZERO. I am more worried about the amount of profits already (even if temporarily?) lost than what I still have to lose (which is LESS).

Are you really willing to let your current net worth get cut in half? Again?

[cAPSLOCK]

Sold all of my BTC now.
 

This is the end.

A message like this from a "legendary" confirms this really is the bottom.

EDIT: seems like you're a "hero" but how in the world you've more than a thousand merit and still just a Hero?

Pointing out that capitulation comments has confirmed a bottom means we will drop at least another thousand. 

Nice job!

[Wekkel]

We must be near bottom just look at the despair in here holy shit.

Weekly indicators at the bottom. Longer term this is an excellent moment, looking at history, to increase holdings, but in real life it’s always so scary....

One of the usual 3 buy opportunities each year. I already shot my wad.

[STT]

We must be near bottom just look at the despair in here holy shit.

haha true enough, very bullish.   The problem I struggle with here is I only really speak one language, maybe I can ask a few friends to read similarly elsewhere but really I cant tell the world wide sentiment.   That would be an important factor to report if anyone is connected better globally, I think there is too much of an echo chamber effect.   

People repeat what others says without fully or even in any way verifying if its true or with serious grounds.   If every single buyer and seller verified a rumour I guess we'd move alot slower in price then we do.   
I personally just hope the overall population grows, we dont rely on big leverage players on an exchange.   Growth is a ton more genuine when its just some poor person who genuinely thinks BTC is useful and holds a bit, but that person matters because there is a million of them.
Ideally that poor person is getting richer (in a developing country with 10% growth) and BTC is helping them reduce their banking costs, a reciprocally relationship that grows and justifies Bitcoin would be ideal. 

[Globb0]

We must be near bottom just look at the despair in here holy shit.

Do you really see any despair here? a load of guys coming together to chat about womens bottoms?

[gembitz]

We must be near bottom just look at the despair in here holy shit.

Do you really see any despair here? a load of guys coming together to chat about womens bottoms?

 

bitcoin >>> to da moooooooooooooooooon

[ToTheMoon_XOM9IK]

We’re not just here to take part….we’re here to take over.  

[yefi]

Ok. Here's some despair.

I'm not proud to be asking this question, but...

"Does it look like Doug Polk will lose his bet ?"

I'll bet you 0.1 BTC it does go below $6000.