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

[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

[Gyrsur]

THIS IS BTCITCOIN

[BTCMILLIONAIRE]

Why does the crypto world seem to be infested with more than its fair share of alt-right loons?

Could it be that the leftie-loons consider anybody normal an alt-right loon?

^This!

If “normal” is being an incel and celebrating Hitler’s birthday, then yes.  

- Your resident leftie loon

Weren't incels distributed pretty much identically across the political spectrum? Or are cucks a predominantly lefty thing?


By the way, am I the only one unimpressed with the weak roller-coaster? wen moon wen lambo

[eddie13]

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

Bitcoin went up $10,000 and then down $3,000 so it overall gained $7,000.. Their were only 10 days out of 12 weeks in which you could have been "burnt" if you bought then, as in down just a little bit..

How is this a problem?

Personlly I don't feel bad for people that lose money trading because when I trade I know I'm taking someone elses coins..
If you trade to gain crypto you are taking the coins from somebody..
If you trade to gain $$s then you are leaching money out of the marketcap of whatever crypto you are trading..

[BTCMILLIONAIRE]

Sheeit. Looks like we're going to be testing $10,5 within the hour. What a crappy way to start the week. El dumperino 

Ten fiddy? Stop teasing us like that.

[BTCMILLIONAIRE]

what's this DefaultTrust stuff all about?

my default trust setting in cryptoverse is trust fucking no-one ... seen so many scams and well-intentioned fuck-ups to learn to stay well clear.

Trust me. Capitalism is bad. Also, send me all your money.

[rdbase]

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?

I do remember when this happened to ethereum and was the first flash crash I had witnessed and never thought it would happen to bitcoin.

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

update
oh

But here we are looking at it being sold for less that $100. It being in canadian so it was about 30% less being lower then listed on the kraken exchange converted into usd.
So it was a fire sale at its most extreme case!

[criptix]

https://www.coindesk.com/u-k-regulators-approve-first-cryptocurrency-hedge-fund

[BTCMILLIONAIRE]

Why does the crypto world seem to be infested with more than its fair share of alt-right loons?

Could it be that the leftie-loons consider anybody normal an alt-right loon?

^This!

If “normal” is being an incel and celebrating Hitler’s birthday, then yes.  

- Your resident leftie loon

Is that what you think normal people do?

HairyMaclairy is a dweeb, the truth is that Bitcoin has a lot of people who are small government and want the people to be able to control their funds. That is a conservative and right wing view. Now why would you want crypto to succeed if you're a liberal and want government control in everything? It doesn't make sense.

and of course with a community so big now you'll get some crazies.

Do you agree that Trump should be elected president for life?

I actually don't see an issue with long-term presidencies as long as proper checks and balances are installed beforehand.

In fact, lots of political horseshit boils down to either lifelong leaders being able to do whatever they want (China) or short-term leaders having zero incentive to think long-term (Western democracies).

Rather than one "lifetime" election there should just be an option for re-election beyond a second term though. That might already be enough "checks and balances".

Although, with a population this short-sighted there probably still won't be sufficient incentive in thinking long-term, since people are clearly too incompetent to anticipate anything beyond a fat sow's jump.

[bitebits]

https://www.blockchain.com/btc/tx/1fa65db48d8cd650a82dbeb3976181e328e1e506821d389ae5a4f660970840c5

Someone lost a bet?

[criptix]

https://twitter.com/VentureCoinist/status/1146096422607106048

Jesse Powell, CEO of Kraken, about tether and bitcoin growth.

I hope it is true

[criptix]

Uhm bottom is in with 9650?

4h and daily looks amazing 

[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

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.

Well, you can't have the newbies slap'd down in mass on 40% corrections every time that bitcoin pumps. All it does is kick the ETF farther down the road and sets back adoption, IMHO.

Hardly negative to say that the FOMO is killing adoption as it pops up in such a manner. I realize it is how Bitcoin 'rolls' but still, hard to see how Bitcoin is this erratic is ever going to

get mainstream adoption. Just saying. Also, it is one thing for 'experienced bitcoin's" to know this, we learned this at like $100 BTC, damn hard to learn this lesson like we did when the

price of Bitcoin was low when the avenues are closing on accumulation. So you accumulate by buying, in this FOMO world of BTC, that is easier said than done!

IMHO<most of the HODL'ers like myself got into this and accumulated Bitcoin by Mining. Which is no longer the case, that ship has sailed.

Now it is buying or not buy. This just complicates

the new adoption of Bitcoin and/or any crypto for that manner.

But again, not a chance in hell for the next year IMHO, of any ETF on the horizon. IF we had reached 12k in a more stable less FOMO manner, I'd say we would have had a good shot.

Now not so much. Along with with the above, every time 'newbies' get the traction they are 'creamed' by the volatility, well again, as I stated, perhaps those who did not HODL on the

last downturn, bought BTC on the FOMO ride up and learned enough to HODL now. I am a bit pessimistic that is a large number of returning folk to Bitcoin, however.

Yeah, perhaps you are right, but just saying this is a 'pattern' that has to change in some mannner someday or any larger scale adoption my not come to be, IMHO.

Brad