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

[El duderino_]

back in bussines BULL SEASON returned .  

This just all reminds me of when I spent thousands & thousands buying bitcoin’s when they were about $500-$600 only for the price to sink all the way down to $150 & stay there for ages. I was really down about it tbh & thought I’d totally wasted a shit tonne of money but we all know what happened then.

Moral of the story - FUCKING HODL & we’ll see another epic bull run in the next 2 years.

I still don’t like seeing the price dump but it doesn’t worry me anywhee near as much as it used to.

Pretty confident we’ll all be ridiculously rich 2021 onwards.

are you rich right now? do you work a 9-5?

My man.... he has BTC’s isn’t that enough of an answer???

[d_eddie]

'Cause whales want you to buy Bitcoin during a downtrend. Never during an uptrend (except near the next blow off top).

JJG could be a whale then 

[El duderino_]

Asked to delete ? NP but Why ?

Nah, it's all good, fam.

I thought my post was ruining the Feng shui of the thread, but hey, if I ended up edumacating someone by using a strange word, I guess it was a worthwhile post after all.

 

Keep them Words coming ..... its good for my broken english....

[JayJuanGee]

I bought all of my bitcoin’s in 2014-2015. Haven’t bought any since then but had £40,000 inheritance in an Aunties will recently. Wondering if I should start buying again if this goes significantly under $6,000.

BFD January 2019 crash.  


This is not financial advice.  I have no idea what I am doing.  

Frequently, if I come across a bit more cash than I had anticipated having, to the extent that I allocate that unanticipated extra money to bitcoin, then generally I will divide the funds into three portions (usually something like equal thirds).  

The first portion, I buy right away (like within a week and largely at the current price),

the second portion, I set a timeline, such as 6 months (which has about 26 weeks) in which I will dollar cost average with a weekly allowance (which is the total amount divided by 26), and

the third portion, I set a incremental buy ladder - which is pretty much systematically (and rationally) adding the amount of fiat to the buy ladder increments and amounts that I already have in place (which sometimes also requires a bit of tweaking of the whole then set up).

In other words, I am not going to wait for some hypothetical dip at some specific time in the future, even if 90% of the chart analysis gurus are convinced of such likely (or inevitable) star alignment(s).  

[yefi]

What do you consider to be our current trading range (which I would also consider to be a range in which you do not get excited until it is breached?

Something like $5,900 to $7,900 ?


Actually, might we NOT get too excited (or assume that the bottom is "in" until we give another really good challenge to $10k and perhaps go above it for a while?

Could take several months, as you seem to be suggesting.

I'd set the range at the previous low around $5700 to the previous peak around $8500. I'm less inclined to consider the range analogous to 2015 until we've kept our footing here for longer. With the 1-week MACD breaching positive, one might argue that this safe ground is more treacherous than it appears.

[BTCHadzija]

back in bussines BULL SEASON returned .  

This just all reminds me of when I spent thousands & thousands buying bitcoin’s when they were about $500-$600 only for the price to sink all the way down to $150 & stay there for ages. I was really down about it tbh & thought I’d totally wasted a shit tonne of money but we all know what happened then.

Moral of the story - FUCKING HODL & we’ll see another epic bull run in the next 2 years.

I still don’t like seeing the price dump but it doesn’t worry me anywhee near as much as it used to.

Pretty confident we’ll all be ridiculously rich 2021 onwards.

are you rich right now? do you work a 9-5?

yup, working 7am to 6pm. acquire more FIAT which we can exchange to BTC. get rich and retired in 2022.

you've been in this game way longer than I have so I just want to ask some questions, hope you don't mind.

Does the fact that you bought bitcoin like 5 years ago make any difference on the life you live right now moneywise, do you take profits and buy stuff you otherwise couldn't afford with your job, or do you just reinvest more?

[yefi]

16 Bitcoin Price Predictions from "Industry Experts"

...

It would be valuable to compare their opinions today with their opinions in the depths of the last bear market. Did they foresee the boom or were they parroting sideways action and lower lows? Wherever I observe cheerful "expert" consensus, I become gloomy!

[STT]

I dont want people to buy anything really, use the blockchain for utility that enables your business is really all that I expect to move the market in the end.   If a more efficient product does this job better then thats the economy that will succeed over BTC I guess.    Long term its not going to be dollars which achieves a better economy, not how its looking now and according to some its impossible for it repay that debt already taken out but who knows how things take place exactly.    

Since BTC has no debt but also no ability to demand it be used as payment its very much uneven in its prospects and subject to speculation, not everyone can handle that. I still think improving usability will yield gains further down the road from a higher population


Bottom prices recently hits a longer term trend on the weekly bars -

https://i.imgur.com/AXcFRQl.png
The blue MA line works out as a 50 week average

[JayJuanGee]

Should I start swing-trading?

How many times did we now exceed 7k for 1-2 days just to fall back to 6-6,5k ?

My next hopes are set out for the Halving in 2020 ...

Yes, you should be trading. The more pessimistic the better. Hodling has been a suckers game all year. Look to it.

HODLing tends to be amongst the best of strategies, when it comes to bitcoin.  If you try to parse out a time frame in which it has not worked, then you are just causing yourself to be overly and unnecessarily emotional about a largely good investment (BTC) and a largely good strategy (accumulate and HODL).  

I am not speaking theory. because I do a bit of a variation of HODL, which allows for a bit of small selling on the way up but the vast majority of my funds fits into the category of HODL, and those funds are doing quite well... and likely to do quite well into the future (3-5 years is fair and reasonable, but perhaps even a shorter time frame will show significant HODL price/value appreciation), as long as I don't become too short term emotional about them.

[HairyMaclairy]

If BTC hits 6 figures this year, I'll blow everyone in this thread.

Saving this just in case. 

[JayJuanGee]

I guess market looks like this right now after 900$ candle

What a bunch of bullshit.

It may be true that crypto overall (not talking about bitcoin) has a certain amount of exodus, but you are posting in the bitcoin thread, so don't be dragging bitcoin into the shitcoin market dynamics that may well be contributing to our current weak hands shaking dynamics, which likely includes bitcoin... any price manipulator is going to attempt to shake any project that s/he can reasonably shake, if s/he thinks that he can make some money from such shaking... which includes bitcoin.

[JayJuanGee]

I still don’t like seeing the price dump but it doesn’t worry me anywhee near as much as it used to.

Exactly, we, the long-time HODLers have become immune to these dumps. We're bullet-proof guys!

I doubt that we are immune because we are "bullet-proof,"  yet I do believe that a vast majority of the longer term HODLers are much more in profits than they were during 2015.. makes it much more bearable to HODL through extensive ongoing price corrections (dips) when your portfolio is between (4x and 30x) in profits (amount of profits depending on how low your current average cost per BTC).

[kurious]

If BTC hits 6 figures this year, I'll blow everyone in this thread.

Saving this just in case. 

So you can be first in the queue...? 

[DireWolfM14]

If BTC hits 6 figures this year, I'll blow everyone in this thread.

Slow yer roll there, big guy.  [praying for $99999.99 BTC, and not a penny more.]

[d_eddie]

If BTC hits 6 figures this year, I'll blow everyone in this thread.

Slow yer roll there, big guy.  [praying for $99999.99 BTC, and not a penny more.]

No public BJ promises made in the WO thread have ever been honored as far as I know. Bitcorn can go as high as we like, and no mouth muscle will be involved.

[JayJuanGee]

'Cause whales want you to buy Bitcoin during a downtrend. Never during an uptrend (except near the next blow off top).

JJG could be a whale then 

It seems to me that the practice of buying on the way down and selling on the way up is a "well-established" practice.  It is certainly no original idea from me, I just happen to spout it off on a regular basis because I remain pretty strict in continuing to follow such a practice and I believe that it works quite well, especially for any asset that you expect to have strong long term fundamentals (i.e. bitcoin).

Gosh.. actual "whale" status would seem to require several thousand coins, no - unless the "whale" figures out a way to manipulate with smaller coin quantities, perhaps using smaller exchanges, and of course, being able to influence others through information could cause a lot lower coin requirement to reach "whale" status?

[HairyMaclairy]

No public BJ promises made in the WO thread have ever been honored as far as I know. Bitcorn can go as high as we like, and no mouth muscle will be involved.

We need a trustless global BJ system

[d_eddie]

'Cause whales want you to buy Bitcoin during a downtrend. Never during an uptrend (except near the next blow off top).

JJG could be a whale then 

It seems to me that the practice of buying on the way down and selling on the way up is a "well-established" practice.  It is certainly no original idea from me, I just happen to spout it off on a regular basis because I remain pretty strict in continuing to follow such a practice and I believe that it works quite well, especially for any asset that you expect to have strong long term fundamentals (i.e. bitcoin).

Gosh.. actual "whale" status would seem to require several thousand coins, no - unless the "whale" figures out a way to manipulate with smaller coin quantities, perhaps using smaller exchanges, and of course, being able to influence others through information could cause a lot lower coin requirement to reach "whale" status?

Actually I was just teasing  

Buying on the way down and selling on the way up is the sensible thing to do for long term bulls - which, I guess, most of us are.

[JayJuanGee]

[ edited out]

you've been in this game way longer than I have so I just want to ask some questions, hope you don't mind.

Does the fact that you bought bitcoin like 5 years ago make any difference on the life you live right now moneywise, do you take profits and buy stuff you otherwise couldn't afford with your job, or do you just reinvest more?

I recognize that your question is not directed to me, but it remains quite possible to do both of the things that you are asserting and you do not have to have more than 5 years in bitcoin in order to have both built equity and established a system in which you are able to cash out some of it for enjoyment purposes while continuing to invest into bitcoin.

Furthermore, contrary to what you seem to be implying (regarding value in "enjoying life") there may be a considerable disadvantage to cash out too much of your bitcoin for either consumer goods (greatly depreciating assets or consumable) or placing your value into assets that either do not hold their value or do not long term appreciate as much as bitcoin (even while short term some other assets might either depreciate less than bitcoin or appreciate more than bitcoin).

[d_eddie]

No public BJ promises made in the WO thread have ever been honored as far as I know. Bitcorn can go as high as we like, and no mouth muscle will be involved.

We need a trustless global BJ system

Indeed. And don't forget about distributed. Which would entail a number of, uh, operators alternating on the job, I suppose? Of course only a single lucky one will get to, hm, validate eventually - but the reward could be shared among all those in the pool.