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

[ivomm]

Freshly saved 500 euro on its way to the exchange. To be honest, I am kind of surprised that bears tried to break the 7700 support. I don't get it why we should feel desperate with 2% drop below this support. If it is not comfirmed in the coming weeks, then all this was noise. Most TA won't even consider it as broken if it is cancelled soon. Now the support down to 7K has increased to 2700BTC in Bitstamp. This is enough to despair even the best bear manipulator in the world. It is like a street with a dead end, dear bears! You may try to break it, but the result will be broken heads   The volume is low, meaning that besides the usual trades nobody is in a hurry to sell. And this is a sign of the failure of the bears, who thought with the sell of 700BTC on one exchange can bring havoc and despair. You have no good or bad news, dear bears, so your fail will be epic. 8K coming in (edited now: 2 weeks 2 days. 10K and above in the coming months days. ) Cheers to the hodlers!

hahahaha

That's an interesting perspective.

I hope that you are correct.

This is my 2nd reply today, but things developed too quickly. I tried to be conservative in my forecast knowing many are going to laugh at me. But I am not surprised of this quick recovery above 8K. Not at all! Congrats to all firm hodlers once again! (Btw, I bought with that 500 euro minutes before the epic pump  )

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[dragonvslinux]

Death cross? What Death cross! HAHA

This one below, the 50 Week crossing the 200 Week confirming a long-term bear trend. Bit of a late signal from breaking the 200 Day MA, but crossing none the less. It's normal for the price to rally into the death cross, in fact in 2014 and 2017 it happened on both occasions, ripping 20%+ to the upside in the short-term before dumping 50% further in the long-term. It's best not to confuse the short-term bullish results of the bear cross on hourly/daily time frames, with the longer term weekly/monthly outlook of what this implies, but you're also welcome to assume a 4 hour candle changes everything and we're going to the moon regardless 



Don't get me wrong, I'm accumulating under $8k, but also trying to be realistic about the long-term perspectives of the bear cross based on previous price history.

[Raja_MBZ]

[LUCKMCFLY]

Guys, what happens is that they are closing the "Shorts", maybe they didn't get more offer at low price levels, people don't want to sell.



When all the "Shorts" close, the price recovers, and they start looking for an offer at higher levels, $ 8.6k and up.

You have to wait, emotions know how to take advantage of whales.

[serveria.com]

EEEEeeeeeeehaaaaa! Nice pump guys! Hope the beartroll scum is loving it as well... 

[serveria.com]

Death cross is coming they said.... 3K is inevitable they said....   

[El duderino_]

Was of a bit, just coming to say...... I think BoB is gonna like this late morning   #nohomo

[d_eddie]

THIS escalated quickly. Nice dildo, long and reasonably fat given the meager recent volumes.

[JimboToronto]

A pleasant good morning Bitcoinland.

I take a leisurely hot bath and when I get out I see we've gone up a grand... currently $8464USD/$11049CAD (Bitcoinaverage)... very refreshing.

Too bad I couldn't afford to buy any coinz at the bargain basement prices but at least I didn't need to sell any either.

Life is good for those who hodl.

Go Bitcoin go.

[becoin]

But but but... TA guru told me chart is pointing at 6k. I guess chart is now pointing at 60k?

[d_eddie]

if you are scared from BAKKT impact on market, then brace for more:

Bakkt to Launch Options on Its Bitcoin Futures Dec. 9

Bakkt announced Thursday that it would “launch the first regulated options contract for bitcoin futures,” adding a new product to its current slate of physically-settled bitcoin futures contracts. CEO Kelly Loeffler said in a Medium post that the contracts were built in response to customer feedback, and that ICE Futures US self-certified the contract through the U.S. Commodity Futures Trading Commission (CFTC).

I am afraid time has come to write the option equivalen to my Everything you wanted to know about BTC futures but were afraid to ask! post.
Gigantic work, but has to be done.

Options for bitcoin FUTURES, again. How about plain old options? I wonder why they're approaching it this way.

Option on a physically settled future on bitcoin are basically the same thing of an option on the bitcoin itself. I really can’t see any difference.

They're almost the same thing - but only if settlement date of the options coincides with that of the underlying future.

They are doing so to “recycle” a few items legally I think. But nothing real for the user.

I agree on the "recycling" bit, but but... they must have hard btc because of physical settlement... so where does the need to recycle come from?

Edit: I saw the message from Javi on the choice between physical or cash settlement of the options. I don’t know his source, but it looks very odd to me, but everything is possible.
If I know more, I will let you know.

This choice is a bit fishy. Fractional reserves maybe? Tu quoque, Bakkt?

[Icygreen]

[Lucius]

via Imgflip Meme Generator

[goldkingcoiner]

That was a nice pump. Made more coin haha.

[El duderino_]

comeing......

[Icygreen]

Happy to have picked up a few more bit cents while the bear trolls did their best. 

[soxxx]

[fillippone]

https://bitcointalk.org/index.php?topic=5195299.0

Wall Observer searching for some support imo...

Little bump.
Hopefully WO Gang is happy for the green dildo so in good mood to support Fillippone MS application!

[Icygreen]

Well go on, poke it 

[willope]

For those that didn't see it in the news, I've taken a photo of the terrorist attack:

R.I.P.
There's an urban legend that speaks of one survivor bear. It's weak now and hiding in the woods. But one day, when you won't remember the old bad times of fear anymore, the bear will return in search of vengance.