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

[d_eddie]

Still sideways. At a slightly higher level, and possibly with slightly wider swings, but still sideways.
As if it's not the weekend already. Sideways weekend? I don't buy it.
I'm kind of hoping for a swing - either up or down. It doesn't matter much since it will be reversed by Tuesday.
A bit more wait and see.

@Hairy - I didn't have the guts to gamble even 10% of my play money by shorting Eth, even if I value your hunches. When I get a fit and try to day trade, I'm always late, so it's a "control the losses" kind of game. Not entertaining at all for me.

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[d_eddie]

I find it appropriate that the comparison is between Ethereum, a scammy shitcoin, and overpriced low-quality Apple garbage.

Fitting. 

Ha!
+1 WOsMerit
(as if you need any).

[ivomm]

I didn't have the guts to gamble even 10% of my play money by shorting Eth, even if I value your hunches. When I get a fit and try to day trade, I'm always late, so it's a "control the losses" kind of game. Not entertaining at all for me.

Hahaha, this is so me!  +1 merit 

[Hueristic]

Still sideways. At a slightly higher level, and possibly with slightly wider swings, but still sideways.
As if it's not the weekend already. Sideways weekend? I don't buy it.
I'm kind of hoping for a swing - either up or down. It doesn't matter much since it will be reversed by Tuesday.
A bit more wait and see.

@Hairy - I didn't have the guts to gamble even 10% of my play money by shorting Eth, even if I value your hunches. When I get a fit and try to day trade, I'm always late, so it's a "control the losses" kind of game. Not entertaining at all for me.

Good thing, it went up the last few days. Lots of whales in that pond, I barley got out with my skin last time I tried that. Lol took 4 months and I had to keep everything locked up during the BCH split so I got no free coins. Lesson learned.

[STT]

I look forward to the next financial crisis  

The whole point of the FED policy is to avoid a crisis.   Instead they are spreading losses over decades, which is seen as a positive compared to the alternative of a crash type adjustment.       So theres two extremes which is fixed pricing via central government which does after all have trillions at its disposal, the alternate is not just a crash but a collapse of that control by the FED over monetary supply.  Its very hard to predict a total revolution


re: the triangle pics, this old concept of the deleveraging process came from the FED itself.   However the people who believed this theory are long gone I guess




https://web.archive.org/web/20121015050632/http://www.dailynews.lk/2007/03/01/fin08.asp

[crypmike]

I'm afraid if he says this... the new bottom to happen soon

Mike Novogratz Says the Cryptocurrency Market Has Found a Bottom


https://twitter.com/novogratz/status/1040288811643809798

[d_eddie]

I didn't have the guts to gamble even 10% of my play money by shorting Eth, even if I value your hunches. When I get a fit and try to day trade, I'm always late, so it's a "control the losses" kind of game. Not entertaining at all for me.

Hahaha, this is so me!  +1 merit 

So I'm not alone! Feels good. And thanks for the merit

Mike Novogratz Says the Cryptocurrency Market Has Found a Bottom


https://twitter.com/novogratz/status/1040288811643809798

I'm afraid if he says this... the new bottom to happen soon

He's a pretty good contrarian indicator indeed. Lows and more lows on the SOMA horizon. And highs and more highs. All within a 1.5k-2k$ spread. (SOMA = I've got no clue, don't heed my dreams).

[d_eddie]

@Hairy - I didn't have the guts to gamble even 10% of my play money by shorting Eth, even if I value your hunches. When I get a fit and try to day trade, I'm always late, so it's a "control the losses" kind of game. Not entertaining at all for me.

Good thing, it went up the last few days. Lots of whales in that pond, I barley got out with my skin last time I tried that. Lol took 4 months and I had to keep everything locked up during the BCH split so I got no free coins. Lesson learned.

I see. So once again I was late indeed. Lesson learned, here too ;-)

Nice of you to tell me about that: I haven't even followed ETH so closely after chickening out of daytarding. Closely watching something I refrained from trading is a sure recipe for either bad blood or some afterthought with losses.

[Searing]

just wow what idiots to see it so small minded .... let them fear and miss the NEXT 1000% or so  

Then again, depends on when you got your BTC, for example, 2013,2014,2015..still not too shabby considering in 2017 BTC was $1,000.00 Jan 2017!

So if the bubble CAN be discounted...as just that a bubble...perhaps stuff will just plod along upward in a more reasonable manner, price wise. (a guy can hope anyway HODL)

or as they say, in a previous post, 'we retraced the whole bubble' downward to where we are now, (Fall 2017)

(we will see I guess, differs a lot by your time perspective and when you got in on all this)

brad

[d_eddie]

@Hairy - I didn't have the guts to gamble even 10% of my play money by shorting Eth, even if I value your hunches. When I get a fit and try to day trade, I'm always late, so it's a "control the losses" kind of game. Not entertaining at all for me.

Good thing, it went up the last few days. Lots of whales in that pond, I barley got out with my skin last time I tried that. Lol took 4 months and I had to keep everything locked up during the BCH split so I got no free coins. Lesson learned.

I see. So once again I was late indeed. Lesson learned, here too ;-)

Nice of you to tell me about that: I haven't even followed ETH so closely after chickening out of daytarding. Closely watching something I refrained from trading is a sure recipe for either bad blood or some afterthought with losses.

I have done small amounts of day trading and just lose my ass most of the time. I just don't stick with it or refuse to lose a bit in case I get screwed on a spike or dip and then just end up holding.

More of us here than I thought  

[jbreher]

Maybe should ask our residential Bcash promoter, jbreher?   Wasn't jbreher keeping 50/50, or something like that? 

Ask me what?

I own many more units of BCH than I do of BTC.

I still see BCH as having a bright future.

Really I wouldn't expect that from you. Bcash was so obviously being propped up by Bitmain, Roger and Craig that I expected nothing to come from it once Bitmain stopped their losses.

I don't much give a damnn what Bitmain, Roger, and Craig do.* For my part, BCH has the properties that made bitcoin great to begin with. Scaling in a logical fashion, and free of the Segwit virus. From my perspective, it is simply technically better than BTC. Hopefully, the world will awaken to this.

* Well, I hope they keep mining it. Though, the DAA allows for drops in hashpower to be relative non events.**

** Unlike BTC, which lacks this safeguard.

[El duderino_]

Maybe should ask our residential Bcash promoter, jbreher?   Wasn't jbreher keeping 50/50, or something like that? 

Ask me what?

I own many more units of BCH than I do of BTC.

I still see BCH as having a bright future.

Really I wouldn't expect that from you. Bcash was so obviously being propped up by Bitmain, Roger and Craig that I expected nothing to come from it once Bitmain stopped their losses.

I don't much give a damnn what Bitmain, Roger, and Craig do.* For my part, BCH has the properties that made bitcoin great to begin with. Scaling in a logical fashion, and free of the Segwit virus. From my perspective, it is simply technically better than BTC. Hopefully, the world will awaken to this.

* Well, I hope they keep mining it. Though, the DAA allows for drops in hashpower to be relative non events.**

** Unlike BTC, which lacks this safeguard.

via Imgflip Meme Generator

[jbreher]

Maybe should ask our residential Bcash promoter, jbreher?   Wasn't jbreher keeping 50/50, or something like that? 

Ask me what?

I own many more units of BCH than I do of BTC.

I still see BCH as having a bright future.

very bright sell some BTC and buy the BCH dip

At 14:1 we're nearing the ratio where I made my biggest conversion. If it drops much further, I may have to think about it. I need to make a deeper analysis of the November fifteen probabilities before jumping.

[jbreher]

Maybe should ask our residential Bcash promoter, jbreher?   Wasn't jbreher keeping 50/50, or something like that?  

Ask me what?

I own many more units of BCH than I do of BTC.

I still see BCH as having a bright future.

Really I wouldn't expect that from you. Bcash was so obviously being propped up by Bitmain, Roger and Craig that I expected nothing to come from it once Bitmain stopped their losses.

I don't much give a damnn what Bitmain, Roger, and Craig do.* For my part, BCH has the properties that made bitcoin great to begin with. Scaling in a logical fashion, and free of the Segwit virus. From my perspective, it is simply technically better than BTC. Hopefully, the world will awaken to this.

* Well, I hope they keep mining it. Though, the DAA allows for drops in hashpower to be relative non events.**

** Unlike BTC, which lacks this safeguard.

I for one much prefer the virus of segwit rather than the cancer or Jihan and Roger. I wouldn't make debatable transaction methods a hill to die on especially with leaders like that.

They are not leaders, so much as fellow travelers.

They each likely own several times the BTC that you own as well. Does this mean you are going to abandon BTC?

Didn't think so.

Some consistency, please.

[d_eddie]

Really I wouldn't expect that from you. Bcash was so obviously being propped up by Bitmain, Roger and Craig that I expected nothing to come from it once Bitmain stopped their losses.

I don't much give a damnn what Bitmain, Roger, and Craig do.* For my part, BCH has the properties that made bitcoin great to begin with. Scaling in a logical fashion, and free of the Segwit virus. From my perspective, it is simply technically better than BTC. Hopefully, the world will awaken to this.

* Well, I hope they keep mining it. Though, the DAA allows for drops in hashpower to be relative non events.**

** Unlike BTC, which lacks this safeguard.

I for one much prefer the virus of segwit rather than the cancer or Jihan and Roger. I wouldn't make debatable transaction methods a hill to die on especially with leaders like that.

They are not leaders, so much as fellow travelers.

They each likely own several times the BTC that you own as well. Does this mean you are going to abandon BTC?

Didn't think so.

Some consistency, please.

Here's one of your deft rhetorical tricks.
You see, it's not about how much BTC or BCH some guys have. It's more about the BTC/BCH ratio. Or the history behind.

edit: Kingcolex wasn't tricked, either. He beat me to it.

[crypmike]

Don't even understand why to discuss BCH in serious context here..

[gappie]

Who still cares about BCH. That is so 2017

[JimboToronto]

Who still cares about BCH. That is so 2017

LOL Maybe we should all talk about Bitcoin Gold. 

[crypmike]

A Brief History of Bitcoin Bear Markets
https://medium.com/mosaic-network-blog/a-brief-history-of-bitcoin-bear-markets-1eeac2d646e5

[eddie13]

This is what I'm seeing...


The highs have come down in a reverse parabolic manner, much like the way it went up but the other way around..
The lows seem to be bottoming in a more linear fashion, with a slight downtrend which I don't like to see too much but it is what it is..

No mater, the trading channel continues to narrow and that I do like to see.. The channel will keep getting narrower and narrower and eventually BTC is going to have to break out of this channel if it maintains any volatility at all, unless we expect BTC to completely stop swinging, which I don't..

I think it will remain in this channel for a while, with the swings getting smaller, tightening up, to stay in the channel, until it just cannot take it anymore and breaks out..

which way will it break? I think it will break UP out of the channel but could break down.. I will be watching for the price to break out of this pattern in either direction and then I will be confident that exciting things are about to happen, for dump or for glory, something is gonna happen..

I don't think it is going to happen soon.. It seems to be forming itself to the pattern quite nicely, tightening up its swings, and hasn't felt too claustrophobic yet..


Another thing it really looks like to me is how we would mark Instantaneous Shut In Pressure, ISIP, in the oilfield..

I had to draw one..


Pretty much when your pumping 10,000 psi on a well which has a natural surface pressure of about 3,000 psi or so, when you stop pressure pumping all of a sudden the pressure drops and then bounces like this when the pressure finds it equilibrium..
The bounce tapers out like that in a slight downtrend and eventually flattens out to a steady pressure once it settles..


So like BTC was getting pumped at 20k psi, pumps stopped, it charts a textbook ISIP trace and finds its equalibrium, which thankfully for us seems to be around 6k, as apposed to 1k or whatever it could have been..

I for one am not too sad to see BTC in the 6k area, lol.. Pretty nice, it could be much worse.. = their is a lot of natural pressure in the well of users considering it was only in the hundreds before the pumping started, the fracks must have worked exposing the well of BTC to much more natural pressure (people) than their was previously..

Fracking pretty much exposes the well to more surface area in the target formation, where their is pressure..
In this case the target formation is the eyes and wallets of the general public, so the big pump on BTC has broken it's awareness out to a bunch more surface area of the general public and investors, where their is buy pressure, and now that it is better exposed their is more natural pressure from the exposure, and we are having bottoms in the 5k-6k range rather than the 300-400 range we started at..