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

[JayJuanGee]

I think that your memes made your point pretty well, even though I disagree with the concept of shorting bitcoin, especially after it already experienced nearly a 30% dip within about 2 weeks. It neither seems to be a good personal strategy nor good for bitcoin... yet I understand that personal strategy might be the only one that matters to a lot of people who just want to make money, but even on that basis, it seems a bit of a gamble to bet on DOWN after a relatively fast correction.

 On the other hand, if someone had been betting on DOWN when the price went up 30% in almost the same amount of time, that would have seemed to like a more practical and realistic bet (even though I personally don't engage in any kind of margin trading of bitcoin).

You was white about price. Now bitcoin growing.

Odds are about in the 50/50 territory that I will be right at any given time, and so I am not really making any bets, except to buy  as the price goes down and to sell as the price goes up.

Furthermore, I rarely change my bets based on my own personal perceptions about price direction and whether I think that it is probable that we are at the bottom or the top.  For example, if I have orders to buy $100 worth of bitcoin for every $200 that the price drops, there might be times that I change my orders by 10% or so in either direction.. so if I think that the price is dropping a lot, I might change them to $90 each, or if I think that we are reaching the bottom, I might change them to $110 each (something relatively small and incremental like that).

[Searing]

if you don't have a lambo .... than just sell the car that you do have and buy the same 6K bitcoins .... and buy it back with the same BTC dust

 

But if you did that in January you would still be hitchhiking today.

This is why the rich get richer, they can hold during bear markets.

What I need to do is get off my lazy butt and work again. For (d
revalued) bitcoins.

I retired in Jan when BTC was at least 2x as now. I should likely do the same..go back to work....the problem is:

1) working with idiots. (that was a relief retiring)

2) the pay seems to not be following, what they expect from you on the job. *massive understatement*

So currently it is a NAW. I 'suppose' if I found something before it hit the want ads and/or such...perhaps it might make sense

for the right job/pay/boss...but you don't hear of those...they get snapped up pretty quick...never make public view.

Naw, will burn all my altcoins and all my BTC if it comes down to it....to stay retired the next 2 years till 65. Then will be available

for Medicare and that last year till 66 and full retirement I can use the 70k work 401k to tide me till 66 years and full boat retirement.

....Assuming my altcoins and bitcoins (ack....

my precious....) last that long. Was planning in Jan for it just to be altcoins..that is getting iffy

Again, my 'guess' that I'm going with is at this moment in the USA 'everything' is a bubble. I hope BTC has blown its bubble and is done

and acts like a store of value in a recession and goes sideways or up...and of course BTC and alts goes no lower

then 2x the amount it was last year in BTC (adding BCH value as well)...with the same ratio for my altcoins...this is the bottom...

If so...I expect a pretty 'good sized' recession in the next, with the regular investments in the next

1-2 years. A normal recession is like a 20% correction..me....planning on a 40% to 50% hit on traditional investments outside of crypto.

Thus, assuming I don't bust my ass and have medical issues and debt (no debt now) even if the crypto angle and above is as bad as

I suspect..ie same 35k lifestyle and no debt thru 66 years and beyond (with soc sec at 66 and Medicare at 65) so big 'yawn'.

But again, get your ducks in row folk. IMHO, attic mine crap in the attic sell on eBay for crypto, lessen debt....because it is gonna

haunt you when it all goes to pieces this next recession (been thru 4-5 recessions) thus you look back at all the signs and say such epic

things as 'why the hell did I get a new car? etc....again, IMHO, we are due...and when the tax cut parties are done....blamo...

hope I'm wrong. (likely wrong with my economic term of blamo) but if I'm wrong I'll simply have MORE income than I expected.....thus

my logic....win/win

denial...and delusion is how I cope in the world (tm searing)

later

brad

er NOW...not so much...can't afford the lifestyle of a female sales clerk at J.C. Penny.....


the universe is 'cruel'

Remember my friend, you don't pay for them to come into your life.

You pay them to leave.

Very important to always remember this.

good point.....

[JayJuanGee]

I'm no chart expert but I've followed this thread long enough to know that a double bottom is a good thing.




So...

double bottom pics please

Haven't we visited the $6k "bottom" range about 4 times in recent months?  Since February, right?  That is quadruple bottom.

Instead of lambos, we are getting lamb bottoms?  Fuck.

[lightfoot]

Eh. My opinion on the nature of bitcoin, the recent trials, turbulation and tribulation in the markets, and my thoughts on the future of this coin can be summed up in the following image:

[stoat]

Looks like 0xBTC is pumping today

https://coinmarketcap.com/currencies/0xbtc/#markets

[Elwar]

I'm no chart expert but I've followed this thread long enough to know that a double bottom is a good thing.




So...

double bottom pics please

Haven't we visited the $6k "bottom" range about 4 times in recent months?  Since February, right?  That is quadruple bottom.

Instead of lambos, we are getting lamb bottoms?  Fuck.

We hit $5.8k twice. That was the long term double bottom.

The medium term (this past month) double bottom was at $6.2k.

[jojo69]

...inspirational treatise...

You left out the part where central banks will be forced to hold BTC as reserves.  A minor oversight, but I think it bears a mention.

bravo sir

[Elwar]

...inspirational treatise...

You left out the part where central banks will be forced to hold BTC as reserves.  A minor oversight, but I think it bears a mention.

bravo sir

Can you imagine the private key ownership of these government entities?

I used to use a smart card at work. This was for a network used by just about everyone in the military and most of the government.

They had one guy in the world that had a single key that was used to secure all of these cards.

At one point, he quit.

I found this out after my card shit the bed and I was waiting for 3 months to get a new card so I could get access to my computer (trust me, I really didn't care...I was still getting paid for not working). They told me that a lot of people were in the same predicament. They urged people to please turn in their cards when they left their jobs (so they could be re-used).

[JayJuanGee]

I'm no chart expert but I've followed this thread long enough to know that a double bottom is a good thing.




So...

double bottom pics please

Haven't we visited the $6k "bottom" range about 4 times in recent months?  Since February, right?  That is quadruple bottom.

Instead of lambos, we are getting lamb bottoms?  Fuck.

We hit $5.8k twice. That was the long term double bottom.

The medium term (this past month) double bottom was at $6.2k.

Perhaps it is a matter of framing, because I do believe that we should be considering what is happening in the overall correction that started after the mid-December 2017 peak. 

I am not saying anything new, but the bottom of the first price correction was in early February, and broke $6k, but only for a short period - perhaps hours.  Thereafter, we have had at least 3 additional attempts to break below the $6k range - perhaps our current attempt (floating in the $6,300s to $6,600 area) is not over yet.

 Anyhow, I don't really consider it fruitful to attempt to parse out a shorter period of time after February 2018 - because in essence what seems to be happening with the so far 4 attempts to break below $6k is to really verify if the bottom is in and to verify whether any more folks are willing to be shooken from their coins.  The froth in the alt coin space can exacerbate such bitcoin shakening attempts, but in the end, bitcoin does remain it's own creature too, and surely the leader of coins (even though some dumb money does seem to get confused by whether bitcoin has fallen from its ongoing lead in terms of ongoing building network effects).

In sum, you can attempt to get me to recognize a two bottom situation, and I am going to put my fingers in my ears and cover my eyes to such claims, especially when it continues to seem to me that we gotta attempt to consider the broader package that involves the early February bottom, too.

Speak to da hand, speak to da hand.



hahaha   

[Elwar]

In sum, you can attempt to get me to recognize a two bottom situation, and I am going to put my fingers in my ears and cover my eyes to such claims, especially when it continues to seem to me that we gotta attempt to consider the broader package that involves the early February bottom, too.

Umm...recognizing a double bottom is quite fruitful on this thread.

Much better thing to see than burned shorts.

[JayJuanGee]

In sum, you can attempt to get me to recognize a two bottom situation, and I am going to put my fingers in my ears and cover my eyes to such claims, especially when it continues to seem to me that we gotta attempt to consider the broader package that involves the early February bottom, too.

Umm...recognizing a double bottom is quite fruitful on this thread.

Much better thing to see than burned shorts.

Hey... I have no problem seeing burned shorts, but I really don't know what they mean because there could be a whole hell-of-a lot of shorts burning all the way up to $10k.

It seems to me that we gotta get above $10k anyhow before we get too confident that the bottom(s) (however many there have been so far) are "in."  

Part of my thinking remains that unless we get above $10k and stay there for a while, we still remain in close striking distance of our current local bottom(s)(again however many there are), and we cannot really rest with comfort while BTC prices are in such close bottom(s) proximity.

By the way, maybe I am wrong about $10k and maybe the safe price point is at a different amount?    I am just using that $10k as an approximate tentative place, at the moment, in my current thinking.

[HairyMaclairy]

newish twitter reason to fomo/clutch at straws/smoke the hopium: Bitmain IPO
https://twitter.com/Crypto_Bitlord/status/1027492680320802816

You know something has gone to shit when they IPO it. 

[Majormax]

It seems to me that we gotta get above $10k anyhow before we get too confident that the bottom(s) (however many there have been so far) are "in."  

Part of my thinking remains that unless we get above $10k and stay there for a while, we still remain in close striking distance of our current local bottom(s)(again however many there are), and we cannot really rest with comfort while BTC prices are in such close bottom(s) proximity.

By the way, maybe I am wrong about $10k and maybe the safe price point is at a different amount?    I am just using that $10k as an approximate tentative place, at the moment, in my current thinking.

Good analysis, in my view.

The market will tell us where it is going, ultimately. We can make scenarios and conjectures.  Using the terms if/then/but for alternatives is important.


10k would certainly improve the odds that the bottom was in. Looking at the time scales of the down wave (I would rather call this a bear market) you can see it is unlikely we can form an bullish opinion for some months (10k is going to take a bit of work to get to).

With price sitting near lows, a bearish opinion could be quicker to get to (if 5.8k is broken decisively).

I look at the price action with decades of chart/trend watching  experience , and those are the sort of reasons for me to say on balance, we are still in a bear market. A base, and bull trend will take time and market 'effort' to form. Current price action could be forming a bottom, but its too early to say. All the previous lows of major BTC bear trends have been short lived (spike bottoms), and that doesn't bode well here.

[ToTheMoon_XOM9IK]

[El duderino_]

So what is This weekend gonna bring me.....? For sure a good proportion of fine food and alcohol This evening, a NOCOINER wedding tomorrow So again lots of booze Just to project myself of getting in No NOCOINING talks 
Sunday super relax and sober up times with watching premier league offcourse but al This Will iT go with a BTC weekend pump or a BTCweekend dump mmmmm whatever i Will probably be to fucked up to even Just watch the prices 

[HairyMaclairy]

[Last of the V8s]

https://status.pro.coinbase.com/

Update - The BTC-USD order book did not meet sufficient liquidity needed to enter limit-only mode. We have cleared the book and expect to re-open the book in post-only mode at 9:00am PT.
Aug 10, 00:31 PDT
Update - The BTC-USD order book is now in post-only mode. We will remain in post-only mode for a minimum of 10 minutes.
Aug 10, 00:01 PDT
Update - We have cleared all resting orders on the BTC-USD book. We will enter post-only mode at 12:00am PT.
Aug 9, 23:57 PDT

How are you meant to get out to usd in a dump?

[mymenace]

https://status.pro.coinbase.com/

Update - The BTC-USD order book did not meet sufficient liquidity needed to enter limit-only mode. We have cleared the book and expect to re-open the book in post-only mode at 9:00am PT.
Aug 10, 00:31 PDT
Update - The BTC-USD order book is now in post-only mode. We will remain in post-only mode for a minimum of 10 minutes.
Aug 10, 00:01 PDT
Update - We have cleared all resting orders on the BTC-USD book. We will enter post-only mode at 12:00am PT.
Aug 9, 23:57 PDT

How are you meant to get out to usd in a dump?

The storm is upon us

They are down globally, in parts (correction)

Something going on (Singapore, Australia, USA)

[Last of the V8s]

Looks like 0xBTC is pumping today

https://coinmarketcap.com/currencies/0xbtc/#markets

take your corporate kleptocurrency and shove it where the sun don't shine

[mymenace]

Stolen in whales, bitcoin and altcoin analytics for 2018-2019.
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Shall we play a game