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

[fillippone]

Hmm would it be easy to get the next 10 most highly merited?  Those results are a bit skewed !

I could see two very extremely worthy posts... both had 50 merit and both where to the same whore

Still waiting for my big day!

[JayJuanGee]

Do you see it?
Do You?
🤪🤪🤪🤪🤪🤪🤪🤪🤪


https://www.coindesk.com/price/bitcoin

I am interested to know what will you lot do if that was real?

I would rob a bank and buy all those BTC and willingly take a jail for the next 10 years LOL

I don't mean to be a party poop (or maybe I do?).  SNAP OUT of it and let's get real, Pamoldar, rather than living in a fantasy (and waiting for a lottery payoff that will not happen, and by the way, it tends to be dumb-ass to be playing or preparing for lotteries anyhow).    

The most realistic statement is an inability to do much of anything substantial because there is not enough time to do anything... and your money is likely already tied up or not really sitting there and available for such purpose.... So, the fact of the matter, unless you just are lucky, you don't really have a whole hell-of-a-lot of cash just sitting on exchanges waiting for such a situation... the reality should be that if you have a bunch of cash on exchanges, that cash is working in some kind of way, such as already being set up for buy orders.. and things like that.

So, just like in the chart that you show, whenever something like that happens, it tends to happen on just one exchange, and maybe if you have money on that exchange beyond the money that is already dedicated to BTC buy orders that likely had already gotten used up when the BIGASS dip had happened very quickly, you might be able to take advantage of the situation.. but not too likely. ... because the dip happens so fast, and you do not know about it in advance.

Of course, if such a BIGASS dip were to happen across exchanges, then you may have more opportunities, but you still have the same kinds of problems of NOT knowing in advance and likely NOT having any kind of meaningful spare money on exchanges to be able to take advantage of the situation (unless, of course, if you just randomly happened to have such money that you had not yet put to work, which is NOT a recommended practice to keep that much money on the vast majority of exchanges that would experience such a fat finger crazy ass lack of liquidity issue).

[JayJuanGee]

What a week! DCA is your friend. Between FOMO and FUD I'm thinking the guys posting those Homer Simpson HODLsleep memes have the right idea.

FYI.   Those are guys and gals under the pseudonym, "micpeep."     

[Spaceman_Spiff_Original]

I like this big red candle very much. Looks like we are going up?

You realize the amounts of shorts going down is generally bearish right?

[Wekkel]

I remember the MtGox $0.0001 crash. Now that was some nice bottom fishing for the lucky few....

[bones261]

Do you see it?
Do You?
🤪🤪🤪🤪🤪🤪🤪🤪🤪


https://www.coindesk.com/price/bitcoin

I am interested to know what will you lot do if that was real?

I would rob a bank and buy all those BTC and willingly take a jail for the next 10 years LOL

This was not a real flash crash. CloudFlare was causing issues with many sites, earlier today, and this deep dip in Coindesk's charts was caused by having bad data.

[hondapond]

This is why you always leave really low buy offers in on a few exchanges.  Flash crash was very real, anyone remember when ethereum flash crashed to 10 cents from 300 bucks?

[LFC_Bitcoin]

This is why you always leave really low buy offers in on a few exchanges.  Flash crash was very real, anyone remember when ethereum flash crashed to 10 cents from 300 bucks?

Would they have to honour those buys at those prices?

[JayJuanGee]

5. Kenzawak says and i quote "Fuck is my favorite English word." wish i can translate this word in Hindi,punjabi,urdu

TA looks bad and we will see the price of 9000$ or even 8000$ for a single BTC soon. This is the daily chart for me looks obvious bearish.

Fuck the charts.

If you like fuck, then fuck the motherfucker fuck.


By the way, I suspect that your wife likely disapproves of your "favorite"

 

[eddie13]

This is why you always leave really low buy offers in on a few exchanges.  Flash crash was very real, anyone remember when ethereum flash crashed to 10 cents from 300 bucks?

Would they have to honour those buys at those prices?

They should and if they don't they are BS IMO..
Whoever hit market sell and dumped is the one that looses the coins, not the exchange, unless the exchange is rigged..

I have caught a couple DASH crashes and have seen a lot more.. I saw a bot go crazy once and market buy a shitcoin up like %10,000 too so it does happen both ways..
This is one reason why I almost never use market orders besides it seems they screw me anyway..

If you catch a crazy order like that I would suggest withdrawing your funds from that exchange immediately so they don't get the chance to roll the trades back on you..

[Icygreen]

Shorts at a yearly low.  Last time they were this low was April-May 2018
Bummer, that's my contrary indicator. HODL

[BitcoinGirl.Club]

This was not a real flash crash. CloudFlare was causing issues with many sites, earlier today, and this deep dip in Coindesk's charts was caused by having bad data.

Dame it Bone! You ruined the party.

[VB1001]

I do not like the $600 candle, there is little volume.

[LFC_Bitcoin]

I do not like the $600 candle, there is little volume.

Hot bed for manipulation at the moment. So many clueless day traders getting burnt I reckon.
Can you imagine being a Localbitcoins day trader in the current market -

‘Buy in the morning from an exchange’
‘Quick....list for sale on LBC for 5% above market value’
‘OH FUCKKKKK, the price has dumped $1,000’

[wwzsocki]

I like this big red candle very much. Looks like we are going up?

You realize the amounts of shorts going down is generally bearish right?

Are you sure? Look at the BTC chart  

Wanted to edit my post and I deleted him by mistake. Should be additional popup window after one click on delete to avoid such mistakes.

Shorts at a yearly low...HODL

In few hours situation changed and now start to look bullish again or this is one big bull trap. Just look at the 4 hours chart.



Anyways, I AM BUYING AGAIN 

[Searing]

I do not like the $600 candle, there is little volume.

Hot bed for manipulation at the moment. So many clueless day traders getting burnt I reckon.
Can you imagine being a Localbitcoins day trader in the current market -

‘Buy in the morning from an exchange’
‘Quick....list for sale on LBC for 5% above market value’
‘OH FUCKKKKK, the price has dumped $1,000’

Yep, the price went up too fast, killing any newbie HODL action, then on top of that, speculators now burnt also. Hard to get traction with newbies and adoption with this kinda stuff.

Maybe enough got burnt on this BTC runup that we got some HODL'ers out of this, but I doubt it. So unless other from 2017 newbies have bought in and have the sense to HODL now,

I think it just made the whole crypto scene look stupid and manipulated (which it probably is anyway) and just turned off a lot of folks who would have ridden the price up to 12k slowly.

I guess we need a sideways price to get some folk back. Again, Bitcoin price is still 2x the amount it was on 4/5/19 at $5050 USD. So there is hope. Bitcoin is an 'evil mistress'

Brad

[Spaceman_Spiff_Original]

I like this big red candle very much. Looks like we are going up?

You realize the amounts of shorts going down is generally bearish right?

Are you sure? Look at the BTC chart  

Yes, I am.  I am not saying the price will go down, there are multiple elements that influence the price.

But if the amount of shorts are low, that is a negative factor.  Shorts in existence need to eventually be resolved by buying up the bitcoin again.  Buying of bitcoin is bullish for the bitcoin price.  Therefore, all else being equal, lots of shorts in existence is typically bullish (unless they are a sign of smart money correctly anticipating a down move).

[rdbase]

This happened for real on Kraken and on bitstamp in the past and peoples shorts were filled immediately for those seconds they hit well below the market value of those BTC!!!
From my previous post on the WO thread.

A history of flash crashes on exchanges where some people got bitcoin at $1000 when it was over $6000 per coin. And when kraken was selling a bitcoin for $100 in canadian money which is around $74 usd.
https://blog.sfox.com/bitcoin-flash-crash-short-history-cbcb0d6bc6a5

Damn! I am thinking to risk few hundred dollar at a random unbelievable price in those exchanges just for fun LOL

How does this work anyway?

Just put in an order of shorts and wait until it happens.
There are many who have buy orders put into multiple of exchanges set to $100 per coin if not lower.
Just incase it happens which is just like trying to catch a unicorn.
But on those two exchanges it happened so it is worth a shot to put in a few hundreds on every exchange you are on so to catch the rainbow when it does happen.

[JayJuanGee]

I do not like the $600 candle, there is little volume.

Hot bed for manipulation at the moment. So many clueless day traders getting burnt I reckon.
Can you imagine being a Localbitcoins day trader in the current market -

‘Buy in the morning from an exchange’
‘Quick....list for sale on LBC for 5% above market value’
‘OH FUCKKKKK, the price has dumped $1,000’

Yep, the price went up too fast, killing any newbie HODL action, then on top of that, speculators now burnt also. Hard to get traction with newbies and adoption with this kinda stuff.

Maybe enough got burnt on this BTC runup that we got some HODL'ers out of this, but I doubt it. So unless other from 2017 newbies have bought in and have the sense to HODL now,

I think it just made the whole crypto scene look stupid and manipulated (which it probably is anyway) and just turned off a lot of folks who would have ridden the price up to 12k slowly.

I guess we need a sideways price to get some folk back. Again, Bitcoin price is still 2x the amount it was on 4/5/19 at $5050 USD. So there is hope. Bitcoin is an 'evil mistress'

Brad

Frequently, you are such a negative nancy, searing.

Experienced bitcoiners realize that volatility is a part of bitcoin, and chances for actual meaningful or long lasting "stability" is mostly a fantasy, and not part of bitcoin's underlying situation - which happens to be at some early stage of an exponential s-curve adoption.

Newbies can dollar cost average or buy and hold for the long term.  They should also be capable to look at charts in order to recognize bitcoin for what it is - a volatile beast - without getting their hopes up higher than they need to be by investing an amount that does not cause them too much anxiety - and DCA should be able to help with that, too.

[El duderino_]

Request for merit stats:

Most merited individual posts in WO thread!

Top 10!

Here you GO:

[...]!                           
                     
Self promotion for a labour intensive post under a not labour intensive post:
Bitcoin Bearish or Bullish? Here my thoughts: JUNE UPDATE

I just had to jumpstart MicG...

I honestly was shocked with that boost at the time