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

[Paashaas]

Corona is temporary... it will go away eventually...

Or stay permanently.

In Hubei province 2 cities (Xiaogan and Tianmen) locked down again after opening for only one day, this happens when you force to reopening facilities while the virus is still going on.

Spreading route is unstoppable, at this point there is always someone out there who keeps infecting other people and most likely without realising it.

Even when China ore Italy trying to get their country back to nomal there is a very high possibility to get reinfected again. Epicentre might be located in another city/region.

I don't want to see people suffering ore boomers to die -this needs to end asap- i'm a realist, as far i see it Covid19 will stay here for a while.

Teams around the globe working 24/7 finding a vaccine, i have full confident they will solve this problem. But when and how the virus behaves along the way is still uncertain.

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[Phil_S]

Every sane person has known for a very long time that the dollar must collapse someday;

Not anytime soon. No universally-recognized replacement on the horizon.

Why do you assume that a replacement must exist before it collapses!?

Because its value is rooted in psychology. Right now people sell all types of assets (even gold) to buy dollars. Completely illogical, but that's a reality. Dollar will collapse when people will lose faith in it, when they'll rush to sell dollars to buy something else. That "something else" will become a new universally-recognized replacement.

Lots of worldwide value is locked in dollars right now. That value will not disappear. It will flow into "something else", into a replacement vessel.

[El duderino_]

via Imgflip Meme Generator

[lightfoot]

I wonder if someone could call the Fed and have them issue more merits on WO. We are in the middle of a serious merit liquidity crisis and need the Fed to come in and inject some much needed lubrication in the WO orifice.

[Biodom]

Am I too vain to say that it was a bit boring without football?
Maybe market low will be just before the mini-tournament (in lieu of CL).
https://www.bbc.com/sport/football/51906630

That tournament should lift the spirits.
Not a Vegeta, but something better of a game.
Lads would probably be super-hyper and would fly on the field.

[Biodom]

Yes, we have another damn day for Bitcoin   I wonder how much time it takes for Bitcoin to become as stable as before   I'm sitting here and watching my account go down every day, outside there is a raging virus   Damn series  day with my wrong decisions  
Now the lowest is 4400, how much next?

What would have been your wrong decisions?

You did not prepare financially and psychologically for BTC prices to go down, which would be having the ability to buy moar in the case that BTC prices were to go down, which they did?

Interestingly, since this am btc correlates the best with gold stocks, but not with gold price.
gold stocks are outperforming gold by a vast %, which is for the first time during this 'downturn'.
EDIT: Dow is down 10%, but btc is holding 5K nicely.

[infofront]

Corona is temporary... it will go away eventually...

Or stay permanently.

In Hubei province 2 cities (Xiaogan and Tianmen) locked down again after opening for only one day, this happens when you force to reopening facilities while the virus is still going on.

Spreading route is unstoppable, at this point there is always someone out there who keeps infecting other people and most likely without realising it.

Even when China ore Italy trying to get their country back to nomal there is a very high possibility to get reinfected again. Epicentre might be located in another city/region.

I don't want to see people suffering ore boomers to die -this needs to end asap- i'm a realist, as far i see it Covid19 will stay here for a while.

Teams around the globe working 24/7 finding a vaccine, i have full confident they will solve this problem. But when and how the virus behaves along the way is still uncertain.

It's a pretty crazy situation. If the virus doesn't recede significantly over the summer, will we stay on global lockdown for 1 year+, while waiting for a vaccine?

[infofront]

Yes, we have another damn day for Bitcoin   I wonder how much time it takes for Bitcoin to become as stable as before   I'm sitting here and watching my account go down every day, outside there is a raging virus   Damn series  day with my wrong decisions  
Now the lowest is 4400, how much next?

What would have been your wrong decisions?

You did not prepare financially and psychologically for BTC prices to go down, which would be having the ability to buy moar in the case that BTC prices were to go down, which they did?

Interestingly, since this am btc correlates the best with gold stocks, but not with gold price.
gold stocks are outperforming gold by a vast %, which is for the first time during this 'downturn'.
EDIT: Dow is down 10%, but btc is holding 5K nicely.

That makes some sense, since gold stocks are extremely liquid, and all the big investors want access to quick cash.

[rdbase]

TPC to save the day!

https://www.somagnews.com/a-new-cryptocurrency-now-backed-with-toilet-paper

Didnt know munich cared enough in saving the rest of the world from their fetishes of pooping.

[lightfoot]

Busy day today, and to be honest this really fits my mood:

[Biodom]

Let me guess: last hour 1000-1500 points rally in the Dow-60% chance; decline to 13% loss and circuit breaker #2-40% chance.
Maybe both? Just seems unlikely to persist at this 9-10% loss.

[goldkingcoiner]

Corona is temporary... it will go away eventually...

Or stay permanently.

In Hubei province 2 cities (Xiaogan and Tianmen) locked down again after opening for only one day, this happens when you force to reopening facilities while the virus is still going on.

Spreading route is unstoppable, at this point there is always someone out there who keeps infecting other people and most likely without realising it.

Even when China ore Italy trying to get their country back to nomal there is a very high possibility to get reinfected again. Epicentre might be located in another city/region.

I don't want to see people suffering ore boomers to die -this needs to end asap- i'm a realist, as far i see it Covid19 will stay here for a while.

Teams around the globe working 24/7 finding a vaccine, i have full confident they will solve this problem. But when and how the virus behaves along the way is still uncertain.

It's a pretty crazy situation. If the virus doesn't recede significantly over the summer, will we stay on global lockdown for 1 year+, while waiting for a vaccine?

As far as I see it, corona will never disappear. We can't even fully get rid of AIDS or other simple viruses which are spread throughout the world. Whats the chance we can make corona disappear? And its not like the chickenpox. You can keep reinfecting yourself. Survive once sure, but the second time, your immune system is going to be running on low.

Suddenly I have an urge to visit foreign countries. I think I got the corona. D:

[OutOfMemory]

Local bottom forming, and support strengthening, resistance remaining constant.
Breakout very likely, imho. But also a very good opportunity to counter-trade and dump coins on us.
  what's next  

Getting rejected by the 200 Week MA and volume point of control on the hourly time-frame isn't promising imo, it was looking like a nice breakout for a moment there.

...

I also feel looking at smaller time-frames when the Weekly candle is about to close in 10 hours is somewhat redundant...

Sorry, i wasn't too wise in choice of words and i second your opinion. Not really optimistic.
But on the smaller timeframes: I chose it for visualizing the narrowing spread. Trading activity seems to be quite low, something might be in the air, imho.

Forgot to reply yesterday (too drunk, housemates birthday ) but please NEVER apologize for posting your charts or ideas in this thread - especially if I disagree with it. There is little to no benefit in everyone believing the same thing will happen, especially when a majority are usually wrong.

For example, while me and exstasie disagreed a lot in the recent past during the mini-bull (dead cat bounce) last year, this was beneficial because we could both benefit from each others alternative perspectives when shared. In the past few months, we have been sharing the same opinions a lot more often, and therefore the only benefit is seeing the same picture from a slightly different angle - therefore there is almost no benefit to either of us for this, or anyone else for that matter, as it only entrenches our own perspectives further.

Hence, often a don't have a response to exstasie's TA, because all I would have to say is "I agree, thanks for sharing", which I find better said with merit than words.

TL:DR: Please continue posting your charts and opinions, especially if they contradict my opinions  

No worries, i will
I just wasn't very precise, using the term "Breakout", which is commonly associated with a sudden UP move. I found the probability for a down move more likely, and i tried to correct that statement in my reply. We were both biased in the same direction, but my initial post was reading like the opposite. That was what i was apologizing for.

More and more traders seem to follow triangular boundaries on shorter timeframes. The lines almost always match, i tried to emphasize my "prediction" with the chart.
But you were right on the weekly candle, i tend to forget basic things like that more than often (points at his nickname).

Today i got hold of a bottle of my favourite vodka (made from milk), so maybe i'm the one that will be too drunk to reply later on today  

[JayJuanGee]

OK, I gave in. Just sent £8,000 to Coinbase & bought.

I obviously have a good sized corn stash but I now literally only have £2,000 worth of fiat in my entire list of banks & savings.

Effectively I am all in.


(Feeling guilty - the 2BTC were £7,700 combined so I had £300 left. I bought Litecoin with the £300 )

Yes... presumptively, you have an ongoing cashflow that could be made available for buying more bitcoin in the event that BTC prices stagnate in this arena for 6 to 12 months.. in a kind of worser case scenario.. .. though I do concede that even your 99% scenario seems quite optimistic on the lower end possibility.. and I hope you are correct in your seemingly too optimistic optimism.

@Lambie

Thanks man, I’m balls deep any way, I’m pretty much all in now. If you’re not buying now & you have spare fiat then I guess it proves you don’t fully believe.

You're welcome.   I wish I could buy more rn, but I fired off my last rounds before the Virus crashed everything.

I’m still going to buy regularly as I always have done & always will but it’ll be £500 here, £500 there & not larger amounts now.

Subsequent answer to my earlier (above) question regarding your anticipated ongoing cashflow that can reasonably be anticipated to be dedicated to ongoing BTC buys...

[JayJuanGee]

Bought some etherium at the cheap to diversify my portfolio.

Corona is temporary... it will go away eventually...

So bitcoin (and etherium) will rise once again  

Fuck ethereum...   you don't even know how to spell it, anyhow...  

I don't think ETH will rise like it did again unless you can find another round of ridiculous amount of idiots to get scammed by ICOs again..

ETH rose while facilitating all those disgusting scams..
ETH just made those scams too easy to pull off, and pumped on gas prices..

Fuck ETH almost the same as you would fuck ethereum or etherium.  Fuck them all!!!!   

[bkbirge]

The "experts" are at it again, the comments are pretty dismissive...
https://finance.yahoo.com/news/bitcoin-is-crashing-more-than-stocks-amid-coronavirus-pandemic-161615204.html

“It is quite fascinating to watch how bad it’s performed,” said David Zervos, chief market strategist at Jefferies. “To see bitcoin off $1,400 in a day, that’s not going to give people a lot of confidence that it’s doing what it’s sort of marketed to do.”

[BHSMC]

Guys,

Excuse my ignorance on this matter but is there a website that I can deposit fiat via wire transfer and can purchase some tether from the U.S?

It seems like I can only do BTC to Tether but any way I can get fiat to USDT?

Thanks a lot.

any help guys?

[Biodom]

Guys,

Excuse my ignorance on this matter but is there a website that I can deposit fiat via wire transfer and can purchase some tether from the U.S?

It seems like I can only do BTC to Tether but any way I can get fiat to USDT?

Thanks a lot.

any help guys?

Kraken.
You can transfer even by ACH to Gemini and trade immediately, but I am not sure that they trade USDT.
Wire transfer would take time too.

[JayJuanGee]

@Lambie

Thanks man, I’m balls deep any way, I’m pretty much all in now. If you’re not buying now & you have spare fiat then I guess it proves you don’t fully believe.

Seems to me that I sufficiently believe in BTC as much as most of the most ardent of BTC supporters, but surely that belief should not result in my employing more gambling and/or risk than I would prefer to employ, if I can avoid it... Therefore, I do not want to put myself into any more stress than i need to.

Yeah, I did not want BTC to go below $5k and I believed that it had pretty damned decent chances of NOT going below $5k.. but it did, anyhow.  Fuck that, but that is this kind of market.. cannot really know anything with any kind of meaningful level of confidence.

So, yeah, I have Buy orders down to $3k currently.. and really I do not want to inject any more fiat into this, but I have some fiat that is already theoretically allocated to BTC... and yeah, I will likely transfer half or so of that fiat to one of my exchanges if the BTC price breaks below $3,850 again... NO, NO, NO... I don't want the god-damned BTC price to be dipping below $3,850 because I do not want to transfer that money.. but fuck, I already have that tentative plan.. which is a hopefully it does not happen, one....  

Anyhow, that transferred in money would be to set up buy orders for below $3k.... Yeah. .I do not want it to happen, but BTC does not give any fucks about what I want.

Point is that "all in" is NOT the only strategy, and ONLY ends up being "the best" strategy, if you happen to end up being correct in a kind of gambling outcome.. which currently seems to be around 50/50 at this time... Nonetheless, I do happen to understand that it is NOT going to make a whole hell of a lot of a financial difference if you (or I) buy at $4,700 or $3,500, but it seems to me (projecting into the reasonable what-ifs) I am going to feel way the fuck better psychologically if I have money to buy in the lower $3ks, if the BTC price goes to that outrageous range rather than running out of money.

I have run out of money on several occasions in the past (at least resorted to more rationing than I would want based on NOT wanting to run out of money to buy BTC), and even in recent times, I have been kicking myself a little bit for having to ration my dollars as much as I have had to ration them in order to have more ability to meaningfully buy BTC than merely symbolic buys in the sub-$5k prices (that I had hoped to fuck would not have come, but those sub $5k prices did come, as we concretely and experientially know).

[BHSMC]

Guys,

Excuse my ignorance on this matter but is there a website that I can deposit fiat via wire transfer and can purchase some tether from the U.S?

It seems like I can only do BTC to Tether but any way I can get fiat to USDT?

Thanks a lot.

any help guys?

Kraken.
You can transfer even by ACH to Gemini and trade immediately, but I am not sure that they trade USDT.
Wire transfer would take time too.

Gemini doesn't support USDT.

If I buy bitcoin, then buy USDT, I will have to pay commission twice right?