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

[STT]

Is the bid volume vs ask volume real on Stamp’s tradeview?

It’s heavily weighted towards bid rather than ask yet we’re tumbling down?

Sorry for the noobish question!

Theres a bullish divergence apparently, where price moves but in an increasingly stretched way relative to previous volume at higher prices.   I dont know thats the case but I recognise the idea that price can go anywhere at all but at times it will become inaccurate.      Forget the current price but look at previous support, did we confirm that as a ceiling before falling because that adds certainty to a down move and its a more balanced downtrend.

  I put my target upside at 6600 area just because good support is a good ceiling and it doesnt seem to have hit its head yet on the weekly but it doesnt have to do anything, it could bumble along for at least 4 weeks.   Someone else said leveraged traders in asia are selling BTC as a source of dollars, so stocks going down and/or dollar index being higher makes BTC weak.   To me that just says we shouldnt be leaning on leveraged traders as holders but theres always going to be some of that effect, hot money circulating the world is a massive deal on every commodity seems like and everyone is trying to dodge that dollar printing press

There was a good comment last year like 12 or 18 months ago about, how would BTC have faired in 2008 in that Dollar value spike reaction.   Everyone who had borrowed dollar (or yen) got their hands burnt at least in the autumn.   The nuclear winter scenario, knocks the price down of everything speculative, growth based.   If BTC can survive the hard times its amazing.   However this isnt 2008 and imo we arent seeing a harsh rise in USD, its risen most of 2018 but its speculative mostly and the FED rate rises was baby steps.
   UUP is an ETF so not entirely accurate but looks like a twin peak of the 2016 December values so maybe if Dollar continues a rise beyond a previous annual high then its a bullish scenario but my guess is we are at the top of the rollercoaster for USD index / DXY and conversely thats the peak of the harsh macro effects for BTC

[gembitz]

Is the bid volume vs ask volume real on Stamp’s tradeview?

It’s heavily weighted towards bid rather than ask yet we’re tumbling down?

Sorry for the noobish question!

Theres a bullish divergence apparently, where price moves but in an increasingly stretched way relative to previous volume at higher prices.   I dont know thats the case but I recognise the idea that price can go anywhere at all but at times it will become inaccurate.      Forget the current price but look at previous support, did we confirm that as a ceiling before falling because that adds certainty to a down move and its a more balanced downtrend.

  I put my target upside at 6600 area just because good support is a good ceiling and it doesnt seem to have hit its head yet on the weekly but it doesnt have to do anything, it could bumble along for at least 4 weeks.   Someone else said leveraged traders in asia are selling BTC as a source of dollars, so stocks going down and/or dollar index being higher makes BTC weak.   To me that just says we shouldnt be leaning on leveraged traders as holders but theres always going to be some of that effect, hot money circulating the world is a massive deal on every commodity seems like and everyone is trying to dodge that dollar printing press

There was a good comment last year like 12 or 18 months ago about, how would BTC have faired in 2008, in that Dollar value spike reaction.   Everyone who had borrowed dollar (or yen) got their hands burnt at least in the autumn.   The nuclear winter scenario, knocks the price down of everything speculative, growth based.   If BTC can survive the hard times its amazing.   However this isnt 2008 and imo we arent seeing a harsh rise in USD, its risen most of 2018 but its speculative mostly and the FED rate rises was baby steps.
   UUP is an ETF so not entirely accurate but looks like a twin peak of the 2016 December values so maybe if Dollar continues a rise beyond a previous annual high then its a bullish scenario but my guess is we are at the top of the rollercoaster for USD index / DXY and conversely thats the peak of the harsh macro effects for BTC

$1500 = good support weeee

[Majormax]

I think true capitulation is in - My reasoning = no micgoosens for multiple pages

Spot on. You will be surprised how true that is, and also how long it will before it happens.

3 months averaging 2 pages a week on WO, is my guess. Maybe 2020.

The way to deal with it, if you have an income, is to put 5% of your spare capital into BTC every month. That way, you will be $ cost averaging through the lows.

If you dont have any spare, then the best thing to do is go away and find a distraction from looking at the price for a year or two (while hodling)

[g-uid]

Buy order set for $2688 based upon complex TA including straight red lines, pointy arrows and other squigglies.

via Imgflip Meme Generator

688 attack sub ftw

[luckygenough56]

Waiting for decent price cut to start averaging cost down...

[gembitz]

Waiting for decent price cut to start averaging cost down...

buy with real money @ ~$1000?  :-D weeeeeee

[HairyMaclairy]

My gf of 10 years (we are early 30’s - got together young) is currently in the phase of telling me that I ruined ‘our lives by not selling when it was $19,000’.

Tell her you intend to ruin your lives by not selling at $250k either. 

[gembitz]

My gf of 10 years (we are early 30’s - got together young) is currently in the phase of telling me that I ruined ‘our lives by not selling when it was $19,000’.

Tell her you intend to ruin your lives by not selling at $250k either. 

magic beans :-D weeeeee

[HairyMaclairy]

We have now penetrated the 200 MA Weekly and have gone back to sitting on it.  Which is not a particularly good sign.  

This area should be heavily defended with extraordinary volume, but instead we are puddling around.  

[gembitz]

We have now penetrated the 200 MA Weekly and have gone back to sitting on it.  Which is not a particularly good sign.  

this is great bitcoin chart needs to "reset" below $1000 :-D #oldschool coiners agree

[RayX12]

My gf of 10 years (we are early 30’s - got together young) is currently in the phase of telling me that I ruined ‘our lives by not selling when it was $19,000’.

Tell her you intend to ruin your lives by not selling at $250k either. 

magic beans :-D weeeeee

I hope this market kicks you in the balls!

weeeeeeee

[dogebearman]

I capitulated and started shorting again.  

what's your target?

Q1 2019

But why still shorting? I also think we will go a bit lower, but do you really think the September 2017 support of ~$2975 will break?

[dogebearman]

We have now penetrated the 200 MA Weekly and have gone back to sitting on it.  Which is not a particularly good sign.  

this is great bitcoin chart needs to "reset" below $1000 :-D #oldschool coiners agree

What do the oldschoolers think about the hyperwave theory? https://www.youtube.com/watch?v=50ruB0sbwIg

[BinaryReign]

My gf of 10 years (we are early 30’s - got together young) is currently in the phase of telling me that I ruined ‘our lives by not selling when it was $19,000’.

Tell her you intend to ruin your lives by not selling at $250k either.  

Hairy, are you a merit source, because I wanted to merit this if you’re not lmao

 

[gembitz]

My gf of 10 years (we are early 30’s - got together young) is currently in the phase of telling me that I ruined ‘our lives by not selling when it was $19,000’.

Tell her you intend to ruin your lives by not selling at $250k either.  

magic beans :-D weeeeee

I hope this market kicks you in the balls!

weeeeeeee

 

i am the market

[luckygenough56]

We have now penetrated the 200 MA Weekly and have gone back to sitting on it.  Which is not a particularly good sign.  

This area should be heavily defended with extraordinary volume, but instead we are puddling around.  

extraordinary volume may come if we break 3000, people will start panic dumping heavy, and they will be instantly punished for selling under 3000 by a big green dildo

If it doesn't bounce from the 3000 cracking, i'll get my diving suit and prepare to go deep

[yefi]

$415 a pop right now. $7B market cap. AND up 12.5% on the day. In what way is that worse than ETC?

By way of the most relevant metric: ETC/ETH : BCH/BTC.

ETC $1B / ETH $28B
BCH $7B / BTC $96B

Nope. Still not seeing it.

You are comparing ends with starts. Here is an overlay I did between the two ratios. Daily ETCETH is from Polo and is yellow/blue, while daily BCHBTC is from Bitfinex and is red/green. Time scales are shifted so both align at the point they hard forked:

After a year, I thought it informative to produce an up-to-date version of this chart comparing BCH/BTC to ETC/ETH. Each has been adjusted so their start points are equal and for BCH data after the fork I have combined BCHSV/BTC+BCHABC/BTC ratios.

Despite getting pumped a little more over its lifespan, BCH is now exactly where ETC was on its journey.

[gembitz]

We have now penetrated the 200 MA Weekly and have gone back to sitting on it.  Which is not a particularly good sign.  

This area should be heavily defended with extraordinary volume, but instead we are puddling around.  

extraordinary volume may come if we break 3000, people will start panic dumping heavy, and they will be instantly punished for selling under 3000 by a big green dildo

If it doesn't bounce from the 3000 cracking, i'll get my diving suit and prepare to go deep

$2500 baked in if that holds then pole vault to millions possible? :-D weeeee

[yefi]

3 months averaging 2 pages a week on WO, is my guess. Maybe 2020.

I'd be interested to see an analysis of the growth rate over time of the WO thread. Should be easy enough to chart by pulling off the timestamps.

[gembitz]

3 months averaging 2 pages a week on WO, is my guess. Maybe 2020.

I'd be interested to see an analysis of the growth rate over time of the WO thread. Should be easy enough to chart by pulling off the timestamps.

growth rate of hats,, lol