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

[JayJuanGee]

How to spot the bottom of the BTC bear market

Nobody ever expects a boom soiree. Hopefully a lot of these tards get left behind when it starts...any minute now.

You are sure coming off as reasonable and bullish, Rosewater.

Are you feeling o.k.?   

[JayJuanGee]

How to spot the bottom of the BTC bear market

Nobody ever expects a boom soiree. Hopefully a lot of these tards get left behind when it starts...any minute now.

If so, probably a bull trap.

The 2013 summer correction scenario with new ATHs to follow quickly remains a possibility though.

If you’re hodling real Bitcoin why would you care to even try to predict? Buy moar if there’s blood in the streets. I don't see blood yet. When you guys lose more Bitcoin, then I will buy more.

Yeah.. you can join forces with Roach.  He seems to still be waiting for sub $500.

[jojo69]

[d_eddie]

I smell a bull trap. Or, as bitserve said, just a few stops being triggered. The volume isn't there, AND it's the weekend. I don't trust this.

[RoomBot]

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 

Still 37k in my head already

*raises hand*   Ooooh did I win your game ?

 

[JayJuanGee]

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 

There seem to be a lot of ways in which a trend can reverse.. one of them does involve getting some kind of BIG up candle, but sometimes we get trickle too...

Many of us should realize that it can be quite difficult to recognize or figure out a reversal... remember late 2015 and early 2016 - even into early 2017.  In October/November 2015 there was a pump from upper $200s to $500, and then a recovery and then nearly a six month question about whether BTC prices were going to go above $500.  Such $500 price point was again challenged after the August 2016 Bitfinex crash, and thereafter $800 was questioned (including considerations of returning to $500) in February/March 2017 which seemed to revolve around whether various alt coins were a threat towards BTC's dominance and questions about whether BTC scaling was going to resolve...

Personally, I even had my own doubts about when that 2013/2014 trend had reverted into a bull market, and I found the May 2016 push above $500 to be a pretty strongly convincing sign.. in spite of the subsequent FUD spreading and questioning of the strength of BTC and the then upwards BTC price momentum. 

In our current BTC market situation, getting above $10k and staying above $10k might be our new $500 threshold point that needs to be be breached before a certain level of largely unambiguous confidence is achieved (regarding reversal and resumption of the bull market).

[JayJuanGee]

Comes off as a bit paranoia, conspiracy theory laden and lacking in evidence.   Thus FUD spreading?

the richest miner making the most mining machines who is also hell bent on driving everyone else out of business who also has litte interest in bitcoin other than extracting the most money and power possible. all of that adds up to more than 51% to me.

that smells of logic not fud but carry on with your patrol if it makes you feel good.

So what?  You describe a kind of motive and a kind of capacity potential.  Do you think that Bitmain is the only entity that holds reserve capacity?  Of course, you have heard about mining pools too, right?  Just because a miner uses bitmain equipment does not mean that bitmain has control over how the equipment directs its mining, whether individually or part of a pool.

Furthermore, there are joint collaboration mining pools too, so if bitmain has some kind of contractual relationship with another pool, do you think that indicates that there is a dictatorial relationship there, or could there be another human that might respond to incentives that are not under the control of bitmain?

You surely seem to be have a decent sized imagination to be attributing so much power to one entity (and likely saying that Jihan 100% controls that entity too?)

[Vlada69]

The one "who's name should not be mentioned" is quite busy this evening...

[jojo69]

my new bottom call

2250

[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?

[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?

[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.