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

[JayJuanGee]

explained in edit above

Fair enough.. We know that sometimes ideas get mixed up, especially in folklore...

Same is true with HODL...  - retrospectively and erroneously being dubbed as "Hold On For Dear Life"  Dumb... 
 Real Dumb... for sure.

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[El duderino_]

Btw whats the price doing

Praying non of you Guys standing in my shoe’s now

Having a drink contest with somebody thats with me F*** we keep going!!!!!!!!

[JayJuanGee]

Interesting development in the bitstamp order book.

If anyone remembers I mentioned a few weeks ago about how much buying support there was around the 3k level, but, also at the same time how the sell orders were not following the price down (IIRC 2000 btc sold bring the price down 4%, whereas 2000 bought price up around 20%).

I've continued to keep an eye on the order book during this last increase and at the 3700 then 3900 levels buy orders and sell orders were balanced (IIRC about 2500 sold or 2500 bought would move the price 15% either way). Meaning that despite the recent increase in price the buy orders were not following the price up, meaning lack of confidence in the bounce.

Well, right now order book is showing if 2000 coins are sold the price will drop 12%, but, if 2000 coins are bought the price will rise 21%. I can only interpret this as buyers now regaining confidence and beginning to follow the price up rather then waiting for a dip to the lows or new lows. In my mind this is confirmation that the low is now in.

Seems like you are trying to put too much weight into the meaning of the order book because the order book is played around with all of the time to cause these kinds of erroneous presumptions that you seem to be attempting to make... in other words, take the order book with a BIG ASS grain of salt.

[goldkingcoiner]

Sun is shining, BTC growing up @3930, 2-3 hours till my first drinks etc

What more to wish for

Its weekend go out and have Some Fun boys

Hope everyone is doing good in here

Pre-CHEERS already

No drinking necessary today!

Yeah....But...

[Ipwich]

Finally, we got it over $4,000 and trading in Bitfinex now at $4,200.
I don't want to to do some back reading, what exchange are we using as the standard price of BTC ?


$5K incoming, not yet?

[jojo69]

I don't want to to do some back reading, what exchange are we using as the standard price of BTC ?

stamp is the datum of record on WO

[El duderino_]

Whatever JoJo got my back, thats something i just know
Lucky drunkF*** that i am

[somac.]

Interesting development in the bitstamp order book.

If anyone remembers I mentioned a few weeks ago about how much buying support there was around the 3k level, but, also at the same time how the sell orders were not following the price down (IIRC 2000 btc sold bring the price down 4%, whereas 2000 bought price up around 20%).

I've continued to keep an eye on the order book during this last increase and at the 3700 then 3900 levels buy orders and sell orders were balanced (IIRC about 2500 sold or 2500 bought would move the price 15% either way). Meaning that despite the recent increase in price the buy orders were not following the price up, meaning lack of confidence in the bounce.

Well, right now order book is showing if 2000 coins are sold the price will drop 12%, but, if 2000 coins are bought the price will rise 21%. I can only interpret this as buyers now regaining confidence and beginning to follow the price up rather then waiting for a dip to the lows or new lows. In my mind this is confirmation that the low is now in.

Seems like you are trying to put too much weight into the meaning of the order book because the order book is played around with all of the time to cause these kinds of erroneous presumptions that you seem to be attempting to make... in other words, take the order book with a BIG ASS grain of salt.

Bitstamp and their order book is the exchange that is least played around with IMO and many others opinions. Secondly, fuck you for making assumptions about what I use to gauge the market. If you think that is the only indicator that I use, you are far stupider then your many unnecessarily lengthy insane incoherent posts make out.

[Ipwich]

I don't want to to do some back reading, what exchange are we using as the standard price of BTC ?

stamp is the datum of record on WO

So still 4107.44 USD, still good because we're up today.
This calls for a big celebration, might as well go for some drink today with my fellow BTC mooners!

[jojo69]

Whatever JoJo got my back, thats something i just know
Lucky drunkF*** that i am

indeed

just don't get the cops involved

[P_Shep]

Zhou Tonged - Bitcoin's Back (Eminem - Without Me)



Good vibes!

Guess who's back??? BITCOIN!

I like the video... It is fun, and pro-bitcoin (even though I had not seen it before - from 2013.. funny that).

I also did not know what the fuck or who Zhou Tonged is, but it appears that from the urban dictionary,
"getting zhou tonged" has gained some notoriety, like the way we say "getting roached" in this thread.  

Anyhow "getting zhou tonged" is getting margin called on your trade.

Oh, you would have loved it

[P_Shep]

I like the video... It is fun, and pro-bitcoin.

I also did not know what the fuck or who Zhou Tonged is, but it appears that from the urban dictionary,
"getting zhou tonged" has gained some notoriety, like the way we say "getting roached" in this thread.  

Anyhow getting zhou tonged is getting margin called.

You didn't get Zhou Tonged?

noob, I lost 10 BTC to the guy

and no, it is not getting margin called,

What is getting "Zhou Tonged," then?  By the way, I don't play with margin.

I got the definition from here>

https://www.urbandictionary.com/define.php?term=Zhou%20Tonged


>>>>>>Zhou Tonged

Bitcoin Slang, Your positions are automatically liquidated
due to insufficient trading balance after a margin call.
This occurs when trading using "leverage buying" at high levels 5:1 or 10:1
The large swings in the Bitcoin exchange rates can force automated margin selling, when the Broker sells out the customer without notice.<<<<<<

I guess they call it getting 'REKT' now.

[Toxic2040]

Another strong day for bitcoin as we blast past four kay to $4.1k-$4.2k   #dyor
1h


Buy the dips.
4h

#stronghands'19

[Hueristic]

Sun is shining, BTC growing up @3930, 2-3 hours till my first drinks etc

What more to wish for

Its weekend go out and have Some Fun boys

Hope everyone is doing good in here

Pre-CHEERS already

No drinking necessary today!

Yeah....But...

Necessity does not preclude preferability.
I could use a drink tonight myself. BBL

[mikeywith]

There is nothing wrong with trading BTC, and even employing margin (which is more risky than merely HODLing and accumulating), but if you start to make claims that diss on BTC HODLers and those who don't sell their BTC and merely buy BTC on dips or dollar cost average into BTC, then you have gone a step too far.  

There is nothing wrong with hodling for those who don't know how to trade, in fact if you are hodling long term it makes sense to buy at any price, whatever you pay now, you will surely be able profit from 3 years from now.

but not everyone is a good hodler, many people sold btc at 3200$ thinking it was going to collapse, and they will FOMO and buy now, and when the price moves lower they will sell again, i mean think about it, if only a handful of people are making money trading, then the majority are losing money, i never diss btc hodlers, i diss amateur traders who chase a large green candle thinking we going to the moon.

Wow wow wow what do we have here .... Nostra-freaking-damus everybody saw your prediction but nobody sold because we're not selling on the way down dude. Go look for some weak hands in other threads...  

another moon boy who missed a 50% discount on BTC  

my major concern is the upcoming resistance at 4500$ area, we have got the 20MA on the weekly which has been holding strong for months, also marks the wick we made on Nov 2018 , and the RSI is facing a major resistance too, let alone the death cross that's about to happen on 50 and 100 SMA's as well as the trend resistance from Feb 2018 , all these reasons suggest that this rally won't be testing upper 6k not even 5k, i guess mid 4k is it for this one.

by the way i am interested in seeing how you draw that trend from ATH as it seems a bit irreverent to me now, the only trend line that makes sense is the one that has Feb 2018 high as it's base " green in chart".

nice TA btw, it's good to see some TAs here rather than lambo dreams.

[HairyMaclairy]

by the way i am interested in seeing how you draw that trend from ATH as it seems a bit irreverent to me now, the only trend line that makes sense is the one that has Feb 2018 high

We can call the bear line irrelevant after we cross it, and even then it should provide support

[Lambie Slayer]

Where my Bears at?

[HairyMaclairy]

Where my Bears at?

Coming out in a few hundred bucks as we approach the bear line

[mikeywith]

We can call the bear line irrelevant after we cross it, and even then it should provide support

that's not what i mean, there is no "proper" trend line that you can draw from 19k, unless you going to take it from ATH all the way down to 6500k , ignoring all previous highs, such trend is week/irrelevant.

 the only valid trend line with 4 points is the one from Feb 2018 at 11930 connecting 10120 , 8400 and 6500. refer to the image above.

[El duderino_]

Where my Bears at?

Whateva man, this f***ing nr1 bear silver rocking dude arrived @his homplave for a wel extreem deserved HODLslee

See thread tomorrow xoxo