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

[CryptStorm]

Just wait till the next wave of negative china news.  BT China closes would be best. Then it bottoms out with super high volume on USD exchanges like in April and the real floor is found.

One can dream, I suppose.

[aminorex]

The only news coming out of China is that BTC crossed over 4000 again

[Davyd05]

Just wait till the next wave of negative china news.  BT China closes would be best. Then it bottoms out with super high volume on USD exchanges like in April and the real floor is found.

One can dream, I suppose.

dreams are nice.

[adamstgBit]

The only news coming out of China is that BTC crossed over 4000 again

in what universe?

[fotosonics]

This needs to be filled in:

http://www.urbandictionary.com/define.php?term=hodl

Also, is it just me or is the forum more 502ey than usual right now?

SUBMITTED with OP explanation:

"I type d that tyitle twice because I knew it was wrong the first time.  Still wrong.  w/e.  GF's out at a lesbian bar, BTC crashing WHY AM I HOLDING? I'LL TELL YOU WHY.  It's because I'm a bad trader and I KNOW I'M A BAD TRADER.  Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro.  Likewise the weak hands are like OH NO IT'S GOING DOWN I'M GONNA SELL he he he and then they're like OH GOD MY ASSHOLE when the SMART traders who KNOW WHAT THE FUCK THEY'RE DOING buy back in but you know what?  I'm not part of that group.  When the traders buy back in I'm already part of the market capital so GUESS WHO YOU'RE CHEATING day traders NOT ME~!  Those taunt threads saying "OHH YOU SHOULD HAVE SOLD" YEAH NO SHIT.  NO SHIT I SHOULD HAVE SOLD.  I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU.  You only sell in a bear market if you are a good day trader or an illusioned noob.  The people inbetween hold.  In a zero-sum game such as this, traders can only take your money if you sell.

so i've had some whiskey
actually on the bottle it's spelled whisky
w/e
sue me
(but only if it's payable in BTC)"

OK, so I'm thinking... another shot?

EDIT: Everyone here is learning, and no one has it easy. Certainly, it can be very stressful, but there's clearly a lot of money to be made. Most folks would probably suggest learning to trade with 1/20th or less of your capital at first, especially if you find it too stressful/difficult/a losing proposition. There's too much else I could say, so I'll just suggest that this is a good opportunity to learn, and in the next couple of years, you should be able to find a strategy that works for *you*, and make good money. You'll need to learn and be patient. I'm sure others could be more helpful than these few words-- but, you're not alone. Cheers, buddy.

Well taken -- tho OP's post is 1st on this EPIC thread: https://bitcointalk.org/index.php?topic=375643.0

Now Urban Dicktionary is refusing to publish HODL:
hodl

v. to resist buying or selling bitcoins.

Predominantly used among bitcoin traders, esp. during periods of volatility. Alternate meanings given are "Hold On for Dear Life" and "Hold On to Da Loot).

orig. mentioned in a bitcoin trading forum on Dec 18, 2013

No matter how crazy it gets on the bitcoin rollercoaster, I am hodling.

I don''t always buy bitcoin, but when I do, I am hodling it.

HODL!

[keewee]

The only news coming out of China is that BTC crossed over 4000 again

Almost... 3900

[adamstgBit]

This needs to be filled in:

http://www.urbandictionary.com/define.php?term=hodl

Also, is it just me or is the forum more 502ey than usual right now?

SUBMITTED with OP explanation:

"I type d that tyitle twice because I knew it was wrong the first time.  Still wrong.  w/e.  GF's out at a lesbian bar, BTC crashing WHY AM I HOLDING? I'LL TELL YOU WHY.  It's because I'm a bad trader and I KNOW I'M A BAD TRADER.  Yeah you good traders can spot the highs and the lows pit pat piffy wing wong wang just like that and make a millino bucks sure no problem bro.  Likewise the weak hands are like OH NO IT'S GOING DOWN I'M GONNA SELL he he he and then they're like OH GOD MY ASSHOLE when the SMART traders who KNOW WHAT THE FUCK THEY'RE DOING buy back in but you know what?  I'm not part of that group.  When the traders buy back in I'm already part of the market capital so GUESS WHO YOU'RE CHEATING day traders NOT ME~!  Those taunt threads saying "OHH YOU SHOULD HAVE SOLD" YEAH NO SHIT.  NO SHIT I SHOULD HAVE SOLD.  I SHOULD HAVE SOLD MOMENTS BEFORE EVERY SELL AND BOUGHT MOMENTS BEFORE EVERY BUY BUT YOU KNOW WHAT NOT EVERYBODY IS AS COOL AS YOU.  You only sell in a bear market if you are a good day trader or an illusioned noob.  The people inbetween hold.  In a zero-sum game such as this, traders can only take your money if you sell.

so i've had some whiskey
actually on the bottle it's spelled whisky
w/e
sue me
(but only if it's payable in BTC)"

OK, so I'm thinking... another shot?

EDIT: Everyone here is learning, and no one has it easy. Certainly, it can be very stressful, but there's clearly a lot of money to be made. Most folks would probably suggest learning to trade with 1/20th or less of your capital at first, especially if you find it too stressful/difficult/a losing proposition. There's too much else I could say, so I'll just suggest that this is a good opportunity to learn, and in the next couple of years, you should be able to find a strategy that works for *you*, and make good money. You'll need to learn and be patient. I'm sure others could be more helpful than these few words-- but, you're not alone. Cheers, buddy.

Well taken -- tho OP's post is 1st on this EPIC thread: https://bitcointalk.org/index.php?topic=375643.0

Now Urban Dicktionary is refusing to publish HODL:
hodl

v. to resist buying or selling bitcoins.

Predominantly used among bitcoin traders, esp. during periods of volatility. Alternate meanings given are "Hold On for Dear Life" and "Hold On to Da Loot).

orig. mentioned in a bitcoin trading forum on Dec 18, 2013

No matter how crazy it gets on the bitcoin rollercoaster, I am hodling.

I don''t always buy bitcoin, but when I do, I am hodling it.

HODL!

shit peoples know the secret!

ahhh PUMP AND HODL!!!!!!!!!!

[OldGeek]

Yay for the home team.  Push em up.  Push em up.  Waaay up.  Go team.

[adamstgBit]

Lets see if my count down works for the bear maret

Nice Correction in
5

[Walsoraj]

adamstgBit's analysis all day, every day:

[TERA]

BTChina up 95% from the low 30 hours ago. Seems legit.

[jojo69]

BTChina up 95% from the low 30 hours ago. Seems legit.

seems like bitcoin

[tHash]

Just wait till the next wave of negative china news.  BT China closes would be best. Then it bottoms out with super high volume on USD exchanges like in April and the real floor is found.

First off, if BTCChina closes(seems likely), that won't mean much at all.   The possibility of that is already priced in, not that the manipulators won't take advantage, it will just be a buying opportunity.    So trading is suspended there, oh well, that would only serve to throw off the old anchor.  
And this volume that you keep bringing up.   First, add all of the volume from the three major exchanges(leaving off China), there was really only Gox in April.   Can't discount BTC-e because it is not a USD exchange, many people who traded at Gox in April trade there now.   Second, convert to dollar value!   Bitcoins were worth almost 10 times what they were at the April floor.  

So, 109k on Gox, 137k on stamp, 148k on BTC-e.   Total, 394k BTC traded in one day.  

April, 572k on Gox, 35k on Stamp.   607k total.  

Dollar adjusted 3,940k BTC were traded this month at the low vs 635k in April.

I am not saying we won't drop again, I am just saying we had a TON of volume.   Before you say that dollar value is irrelevant, check trade volumes of Berkshire Hathaway.   The more valuable something is, the less volume is traded, not the other way around.

[BitDreams]

chart

[TERA]

No the reason it matters to close BT China is because the other exchanges are still wired to follow it move for move. We need that behavior gone.

[OldGeek]

First off, if BTCChina closes(seems likely), that won't mean much at all.   The possibility of that is already priced in, not that the manipulators won't take advantage, it will just be a buying opportunity.    So trading is suspended there, oh well, that would only serve to throw off the old anchor.  
And this volume that you keep bringing up.   First, add all of the volume from the three major exchanges(leaving off China), there was really only Gox in April.   Can't discount BTC-e because it is not a USD exchange, many people who traded at Gox in April trade there now.   Second, convert to dollar value!   Bitcoins were worth almost 10 times what they were at the April floor.  

So, 109k on Gox, 137k on stamp, 148k on BTC-e.   Total, 394k BTC traded in one day.  

April, 572k on Gox, 35k on Stamp.   607k total.  

Dollar adjusted 3,940k BTC were traded this month at the low vs 635k in April.

I am not saying we won't drop again, I am just saying we had a TON of volume.   Before you say that dollar value is irrelevant, check trade volumes of Berkshire Hathaway.   The more valuable something is, the less volume is traded, not the other way around.

Now that's the sort of analysis that I pay my subscription for.

Well done.

[adamstgBit]

BTChina up 95% from the low 30 hours ago. Seems legit.

it is legit! 10,000 noobs are about to realize this tho....

4

[wrostek]

Lets see if my count down works for the bear maret

Nice Correction in
5

I am astonished by the accuracy of your predictions!  Sign me up for BitMovements..  Can I get back issues too?

[adamstgBit]

Lets see if my count down works for the bear maret

Nice Correction in
5

I am astonished by the accuracy of your predictions!  Sign me up for BitMovements..  Can I get back issues too?

sure but i ask for a small donation of any amount

19Rw7tUqTEMfgzxNRP4s2twAECpF3rVyZM

[OldGeek]

Two things:
1.  I surprised at the 24 hour volume on BTC-e.  Nice.
2.  I'm pleased that gox didn't level off in the 650-675 range.

Go team.