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

[regent4]

https://i.imgur.com/5RPSk2F.png

Breakout?

http://blockchainshowdown.blogspot.com/2018/06/btc-usd-30th-june-2018.html

[d_eddie]

my new bottom call

2250

Is this going to be quick, with one red candle after another so that I can move my entire stash to Bitmex and go 100x margin short? Or is it going to be full of volitility so that I will get rekt before reaching the target?

Sell, sell, sell.. bitcoin is doomed!!!!!  Too many green candles.  This is not natural.. right, peeps?

I guess what you really mean is "Get the fuck out of here with your capitulation nonsense!"

But you're too kind to be so blunt  

[JayJuanGee]

my new bottom call

2250

Is this going to be quick, with one red candle after another so that I can move my entire stash to Bitmex and go 100x margin short? Or is it going to be full of volitility so that I will get rekt before reaching the target?

Sell, sell, sell.. bitcoin is doomed!!!!!  Too many green candles.  This is not natural.. right, peeps?

I guess what you really mean is "Get the fuck out of here with your capitulation nonsense!"

But you're too kind to be so blunt  

hahahahahahaha...

I have sensed that I have been acting "overly nice" recently.

[d_eddie]

Breakout?

http://blockchainshowdown.blogspot.com/2018/06/btc-usd-30th-june-2018.html

Let's see if it holds until Monday.

(Note to self: the expiry date of those futures is really a watershed.)

[Elwar]

*looking at the price...yep, still $6240...*

*look away for a few minutes*

*look at the price again...$6420*

[bones261]

my new bottom call

2250

Is this going to be quick, with one red candle after another so that I can move my entire stash to Bitmex and go 100x margin short? Or is it going to be full of volitility so that I will get rekt before reaching the target?

Sell, sell, sell.. bitcoin is doomed!!!!!  Too many green candles.  This is not natural.. right, peeps?

I guess what you really mean is "Get the fuck out of here with your capitulation nonsense!"

But you're too kind to be so blunt  

Time to start putting the squeeze on all of these bottom shorters. Should have closed their position hours ago when the CME July futures contract settled. Haven't checked @whalecalls on twitter yet. Wonder if any big dumb whale just got their big bottom short liquidated.

[jojo69]

god no

this is grim

[ThePunisher49X]

300 dollars will be erased by tomorrow morning, it's not indicative of anything, we've seen this shit so many times.

This is why bitfinex created tether so they can print money out of thin air to create this fictitious sense of euphoria to those who think they are actually going to get a bounce back up so soon.

The entire 2017 bull run was:
>Tether prints money out of thin air
>Uses it to buy Bitcoin
>Bitcoin goes up due to fomo
>Tether sells Bitcoin for real USD
>Now they have $2 billion
>See how tether is backed 1:1 by USD?

And you wonder why the executive from the US left?

Nothing more then a delay in the knee jerk reaction from volume being to low and needing a pep up in price before a national hoilday to keep the masses happy.

From twitter poster https://twitter.com/altcointhoreau/status/1010512351810945027

[bitserve]

Interesting action tonight.

[bones261]

god no

this is grim

Segwit stealing 51% attack with secret quantum computers beginning in any moment.  

[jojo69]

god no

this is grim

Segwit stealing 51% attack with secret quantum computers beginning in any moment.  

[HairyMaclairy]

Volume is comparatively piss weak

[JimboToronto]

Well cheers.

Just got back from the ballgame and I see both the Jays and Bitcoin won.

Let's see if this holds.

Ballpark beers may be expensive but they sure taste good and work great.

Life is good. Enjoy.

[babanana]

Couldn't be happier with BTC. Play your cards right, love your own and you'll be rewarded.
Thanks BTC. 

[jojo69]

god Jimbo

please don't leave us...

[bitserve]

We are still poor anyway.

[TERA2]

These single large pumps are not good indicators of a turnaround. High volume rise over the course of a day would do it. Not a single jump.


Bitcoin is still under $10k 

I disagree. Traders are taught the opposite, that taller candles are better. The volume is another matter though.

[JayJuanGee]

We are still poor anyway.

I don't believe you.

If BTC prices correct an additional 50% or 75% from here, and then carry out a bottom from there, in a $3k or lower price arena, even then, are we really poor?  We have our money in Bitcoin, right? 

Sure, there is a really horrible crash to zero scenario or something close to zero (like a BTC price of less than $100) (scenario zero) that seems really low probability to happen, and a more probable bad scenario (and the more likely worst case scenario) is a 50% to 70% correction from here (scenario one)... which would end up being a 2014/2015 like correction that drags out for 1-2 more years from here. 

The better correction scenario  (scenario two) still CANNOT be ruled out.. which would be assessing the bottom of this particular correction is largely already "in", which would still be something less than a given, and even result in several more months of flat and/or struggling to get UP from here.

Between scenario two and scenario one, there may be around 50/50 odds, at this time, but in neither of those scenarios would I feel poor... If scenario zero ends up playing out, then there would develop a decent amount of feeling of poorness from me, but what are the odds of a scenario zero happening?  It must be less than 1%, no? 

[bitserve]

We are still poor anyway.

I don't believe you.

If BTC prices correct an additional 50% or 75% from here, and then carry out a bottom from there, in a $3k or lower price arena, even then, are we really poor?  We have our money in Bitcoin, right?  

Sure, there is a really horrible crash to zero scenario or something close to zero (like a BTC price of less than $100) (scenario zero) that seems really low probability to happen, and a more probable bad scenario (and the more likely worst case scenario) is a 50% to 70% correction from here (scenario one)... which would end up being a 2014/2015 like correction that drags out for 1-2 more years from here.  

The better correction scenario  (scenario two) still CANNOT be ruled out.. which would be assessing the bottom of this particular correction is largely already "in", which would still be something less than a given, and even result in several more months of flat and/or struggling to get UP from here.

Between scenario two and scenario one, there may be around 50/50 odds, at this time, but in neither of those scenarios would I feel poor... If scenario zero ends up playing out, then there would develop a decent amount of feeling of poorness from me, but what are the odds of a scenario zero happening?  It must be less than 1%, no?  

I will keep repeating we are still poor until we reach a new ATH... Then I will ask if we are rich again.

Bear with it

[STT]

300 dollars will be erased by tomorrow morning, it's not indicative of anything, we've seen this shit so many times.

This is why bitfinex created tether so they can print money out of thin air to create this fictitious sense of euphoria to those who think they are actually going to get a bounce back up so soon.

The entire 2017 bull run was:
>Tether prints money out of thin air

Leveraged trading is the entire rise would be surprising.   It doesnt take alot more demand to create a price rise when supply is quite fixed.   They'd need to be continually expanding their credit position, this is a natural effect occurring in USD but Im not sure BTC is benefiting from QE unwinding especially.   Most of the benefits goto primary dealers in US treasuries and Goldman is one and also a dealer in crypto so its possible a transfer between the two markets is there I guess.   I dont reckon Bitfinex can cause this by themselves without alot of help from their bank manager and/or fraud.   Do you mean they are painting the tape, thats a feature of some Chinese exchanges if any are left.



Theres plenty of doom just reading stated facts I think, just at present they are not come to full fruition but factors are in play enough for a Greek style scare and retraction in market confidence likely to knock BTC I guess.    With US 10 year yields being high, I guess it can be bought in safe haven thinking.  Meaning retraction in other pricing (everything denominated in USD)




The previous estimate I was given is 6500 as a bullish target with 6800 confirmation of a break in negative trend.  I generally agree with that and I'll add in I think we are in positive phase so long as we stay above 6127 and that also would be the recent price of the last top before falling some.    Highs now are the underside of the early April bottom, so theres some significance there