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

[JimboToronto]

Best strategy: Don't sell unless absolutely necessary.

Buy whenever possible and hold.

Resist the temptation to waste your bitcoins by buying fiat currencies just because the price went up. Be strong.

Do not deviate.

More like: Don't sell. Period.

Whats that? Your brother needs an operation? Not as much as I need 100k per Bitcoin. GTFO of my Lambo dreams.

What I meant was: don't sell unnecessarily for mere fiat "money".

Buying medical services or retirement homes (or fine foods or beverages... maybe even hookers, Lambos, and blow, depending on your tastes) is Bitcoin well spent, as is discharging all debt.

Selling bitcoins to bank dollars (or euros or pesos, etc.) is just plain stupid, although many people do it.

Keep your profits in Bitcoin.

[JayJuanGee]

If you thought holding was hard over the past few years, just wait until the #Bitcoin  price is ascending relentlessly, instigating you to sell down your stack.

*Develop a strategy now and do not deviate*

Strong-handedness is more critical in bull markets than bear markets.

https://twitter.com/breedlove22/status/1288682370090950657?s=21

Personally, I do believe that some deviation from a self-created plan (or even a plan that any guy might have taken from someone else) can be employed, but having a pretty strongly thought out plan is way better than not having much if any kind of plan, so at least if you already have a buy/sell/HODL plan, you at least know from what you are deviating, in the event that you consider or employ deviation to your plan.

Many of us likely realize that one of the major issues with mindrust is that he seemed to have not been sufficiently convicted in his BTC plan, and then when he actually deviated from his plan, it deviated in a very extreme way, like throwing out both the bathwater and the baby.. and then coming up with some feel good, and likely quite inferior plan.

Sure, we cannot exactly get in the head of mindrust, even though he did give us a decent amount of contemporary thoughts that he was having at the time of his crisis, and so even he disclosed along the way and during the crisis that he was having that he was really NOT very prepared some some extreme scenarios, and accordingly, he was already planning to fly by the seat of his pants, somewhat, if any extreme scenario were to unfold... part of the reason that I am such a fan of incrementalism in something like bitcoin - even though probably many of us do imagine some extreme scenarios that might even cause each of us to lose our shit.

If you thought holding was hard over the past few years, just wait until the #Bitcoin  price is ascending relentlessly, instigating you to sell down your stack.

*Develop a strategy now and do not deviate*

Strong-handedness is more critical in bull markets than bear markets.

https://twitter.com/breedlove22/status/1288682370090950657?s=21

3 day RSI above 85 -> sell a bit.

Buy back lower.

Repeat.

Easy.

Have you been employing such strategy over the years, Wekkel?  If so, for how long, and if so, did you screw up some times along the way? or did you take some time to figure out such a seemingly objective approach to this matter?

Also, how do you know when and how much to buy back?  Is there a certain measurement that you use, or do you just "wing" the easy-peasy part?

 

If you thought holding was hard over the past few years, just wait until the #Bitcoin  price is ascending relentlessly, instigating you to sell down your stack.

*Develop a strategy now and do not deviate*

Strong-handedness is more critical in bull markets than bear markets.

https://twitter.com/breedlove22/status/1288682370090950657?s=21

3 day RSI above 85 -> sell a bit.

Buy back lower.

Repeat.

Easy.

Easy for some, hard for most

Again.  I am beat to the punchline.     Only by 9 hours, but who is counting besides me?

[bkbirge]

[JayJuanGee]

Sell some short term so I can try to buy MOAR lower?

I’ve been heavily invested in corn for 6 years & never tried to day trade. It’s degenerate gambling imo & even if you’re an expert at TA, market movements etc you probably only have a 50/50 or 60/40 success rate. It’s not for me but maybe I’m just too stupid.

What I will do is when I think (it’ll be a total guess) we’re near some kind of top next year I’ve leave 6 figures on an exchange & at least try to buy some of the huge bulk of my stash I’ve sold back. It’ll be the first time I’ve ever done something like that. I might get to buy some of my stash back cheap but if I don’t, no problem, the rest of the coins I sold will be more than enough so I never have to work again, hookers, Lambos, blow etc.

I think that you have precisely identified the issue, LFC.

When you sell your BTC, you gotta be ready, willing and able to leave the proceeds of those sales on the table forever and ever and ever and NOT be planning, hoping or wishing to buy back lower.

So, it appears that you have never been willing to take that chance, and I doubt that anyone can fault you for that personal inclination, even if some of us might come to differing conclusions regarding at what points to sell some BTC and how much.

I have actually seen you revise your thinking on this matter through the years, and probably both of us can recall that you had gone through tentative plans to sell very large portions of your BTC in around the $50k region (surely a price that we have never reached, yet), but you seemed to have modified your thinking and even revised plans that are still going to allow you to reach your hookers, lambos and blow goals in somewhat revised ways that are presumably even better tailored to your own situation, including your risk tolerance and other personal variables.

Anyhow, I admit that some members might get somewhat bored with my repetition, and I have even had to revise my psychology along the way too, because when I was first selling BTC in late 2015, I was having some difficult times to really psychologically leave those sales behind - and surely, I have way fewer psychological issues in that direction these days, and my thinking is more strongly in the arena that if I make any sale of my BTC whether it is .001, or .0352818 or some other BTC amount, I am largely ready, willing and able to leave those BTC behind if the price does not return to my preset points.  

Sure, I might tweak my sell or my buy back plan here and there along the way, and I do make some tweaks on a fairly regular basis, but my overall psychology has become a lot stronger in terms of leaving my sales behind when I make them, and part of my own justification for that comfortable feeling is that I believe that I had largely over-invested in BTC 2014/2015, so I am more than willing to part with some of those BTC along the way.

By the way, regarding a tweak that I had done in the past couple of days, I had looked at my BTC sell settings between about $11,500 and about $14,500, and I thought that those BTC sell orders were not quite right. There was something "off" about them in terms of really harmonizing with my psychology and my then thoughts of my finances.. and of course, some psychology can change a bit when the BTC price goes shooting up $2k in less than a week with $1,700 of that price appreciation within about 12 hours.. hahahahaha.. Anyhow, I tweaked all of my BTC sell orders between $11,500 and about $14,500 that caused for better harmony and maybe even changes in the overall added up amounts being sold within that price range by somewhere in the 5% arena...

I also had various outstanding BTC sell orders between $15,500-ish and $36k-ish that had a mixture of placement dates between early 2018 and even a few stragglers that were placed in mid-2019.  I reviewed those BTC sell orders and I thought about them in terms of my current personal situation, and the punchline is that I didn't feel any need to adjust any of those $15,500 to $36k BTC sell orders, even though they had already been in place for a few years.. but I did have to make a few minor (maybe technical and not really amount-wise) adjustments to some BTC sell orders between $22k and $36k for an exchange that I had NOT been using very much in early 2017/2018.. so I had not yet created those BTC sell orders between $22k and $36k, which I accomplished in the past couple of days...

Side note: interesting that with this particular BTC price move, I ended up being more motivated to toothpick level analyze all of my BTC sell orders between $22k and $36k, when I had not been motivated to do such tweaking at any earlier date, including our April-June 2019 BTC price rise to $13,880.  That April-June 2019 BTC price rise (and/or any subsequent BTC price movement, until this recent one) did not motivate me to even consider tweaking those $22k to $36k BTC sell orders.

[Last of the V8s]

https://www.epsilontheory.com/the-grifters-chapter-1-kodak/

They’re. Not. Even. Pretending. Anymore.

Who is “they”?

On the corporate-grift side, it’s Kodak Chairman and CEO Jim Continenza (SEC CIK 0001197594), who picked up about 3 million shares and cheap options over the past year. It’s Kodak board member George Karfunkel (SEC CIK 0001085765), of the private equity and banking Zyskind-Karfunkel family, with his 6.4 million shares. It’s Kodak board member Philippe Katz (SEC CIK 0001579836), who owns about 4.3 million shares through at least five shell companies.

Who is “they”?

On the government-grift side, it’s Donald Trump, who gets a press conference and a talking point.

It’s Commerce Secretary Wilbur Ross and Secretary of State Mike Pompeo, who sit on the DFC board of directors and approved this deal, each pocketing a favor.

It’s Larry Kudlow, University of Rochester alum and friend of Kodak, who pockets a BIG favor.

It’s Adam Boehler, 41 year-old CEO of the DFC, who cements a lucrative career once his government “service” is complete.

etc good stuff

[JayJuanGee]

If you thought holding was hard over the past few years, just wait until the #Bitcoin  price is ascending relentlessly, instigating you to sell down your stack.

*Develop a strategy now and do not deviate*

Strong-handedness is more critical in bull markets than bear markets.

https://twitter.com/breedlove22/status/1288682370090950657?s=21

3 day RSI above 85 -> sell a bit.

Buy back lower.

Repeat.

Easy.

Easy for some, hard for most

I have been through the bull/bear cycles multiple times by now and it has always been extremely difficult in the moment when the price is going bonkers to keep sane and make the right decision. In the past I have mostly always decided to not sell any significant amount. This time I will try to time a percentage exit to fiat required to initiate the next phase of my life. I have compiled a long list of top indicators published by well informed members in the Bitcoin space over the last couple years. Hoping I have enough information on hand this time to time some sell orders without looking back with regret. Going to be tough. More tough than all the bear markets combined. 

Hopefully, you can let us know how some of this goes for you, whether while you are carrying out your various sales or after the fact.

I understand that sometimes some forum members do not want to share too many of their buy/sell point specific details because it could screw up their plan if others end up front-running their various buy/sell BTC price points in the even their plan gets too much publicity or further adoption.

[JayJuanGee]

Sucks to be me.. so many BTC emotional roller coasters..   

isnt that part of what we signed up for? maybe not initially (for me originally it was the mining tech and a use for my game machines that did also did seti and folding on occasions, then later the actual use case and byob thing but that took a while) but now the roller coaster ride is expected. almost required now even. i admit i was falling asleep during that long sideways thing.

i mean whats more fun that watching your stack jump or dive 40% in value overnight. well ok there ARE more fun things but they will remain unnamed as gentlemen dont discuss such things (so ive been told).

the bitcoin rollercoaster guy is still the best meme on bitcoin ive ever seen. its so accurate as to what goes on. at this point anyway.

Fair enough... you party poop.

I was largely just emoticating for funzies... and for exaggeration purposes.

I mean if you look at the contents of my earlier post.  I was saying that based on recent BTC price rises, I had pre-ordered hookers, lambos and blow, but then after reading OutOfMemory's negative nancy price prediction post, I had to go through the efforts of cancelling my seemingly premature pre-orders.

Could anyone really take those kinds of representations seriously, except maybe metaphorically?   

 

[Spaceman_Spiff_Original]

https://www.epsilontheory.com/the-grifters-chapter-1-kodak/

They’re. Not. Even. Pretending. Anymore.

Who is “they”?

On the corporate-grift side, it’s Kodak Chairman and CEO Jim Continenza (SEC CIK 0001197594), who picked up about 3 million shares and cheap options over the past year. It’s Kodak board member George Karfunkel (SEC CIK 0001085765), of the private equity and banking Zyskind-Karfunkel family, with his 6.4 million shares. It’s Kodak board member Philippe Katz (SEC CIK 0001579836), who owns about 4.3 million shares through at least five shell companies.

Who is “they”?

On the government-grift side, it’s Donald Trump, who gets a press conference and a talking point.

It’s Commerce Secretary Wilbur Ross and Secretary of State Mike Pompeo, who sit on the DFC board of directors and approved this deal, each pocketing a favor.

It’s Larry Kudlow, University of Rochester alum and friend of Kodak, who pockets a BIG favor.

It’s Adam Boehler, 41 year-old CEO of the DFC, who cements a lucrative career once his government “service” is complete.

etc good stuff

interesting

[cAPSLOCK]

I understand that sometimes some forum members do not want to share too many of their buy/sell point specific details because it could screw up their plan if others end up front-running their various buy/sell BTC price points in the even their plan gets too much publicity or further adoption.

You ever buy a Ledger?

[cAPSLOCK]

Still.. we need a little more volume action, I think.

[Dorodha]

#bitcoin halving cycle - Can you find this week's move to $11k?



Twitter post: https://twitter.com/ChartsBtc/status/1288855126623412229



Twitter post with bitcoin halving cycle already crossed $11,144 trending on the make useful bitcoin world. now waiting for $13,200 next point trader are ready for created new bitcoin.

[bitebits]

You ever buy a Ledger?

https://twitter.com/Ledger/status/1288452973811703810

@Ledger

Our data show that 1M email addresses and 9500 detailed personal information leaked.

[...]

https://twitter.com/trezor/status/1288463431750885383

@Trezor

Fact of the day:
After 90 days, we get rid of all sensitive data about your order in our e-shop database (even e-mail addresses).

[...]

[xhomerx10]

https://www.epsilontheory.com/the-grifters-chapter-1-kodak/

They’re. Not. Even. Pretending. Anymore.

Who is “they”?

On the corporate-grift side, it’s Kodak Chairman and CEO Jim Continenza (SEC CIK 0001197594), who picked up about 3 million shares and cheap options over the past year. It’s Kodak board member George Karfunkel (SEC CIK 0001085765), of the private equity and banking Zyskind-Karfunkel family, with his 6.4 million shares. It’s Kodak board member Philippe Katz (SEC CIK 0001579836), who owns about 4.3 million shares through at least five shell companies.

Who is “they”?

On the government-grift side, it’s Donald Trump, who gets a press conference and a talking point.

It’s Commerce Secretary Wilbur Ross and Secretary of State Mike Pompeo, who sit on the DFC board of directors and approved this deal, each pocketing a favor.

It’s Larry Kudlow, University of Rochester alum and friend of Kodak, who pockets a BIG favor.

It’s Adam Boehler, 41 year-old CEO of the DFC, who cements a lucrative career once his government “service” is complete.

etc good stuff

 I'm surprised that 600watt isn't named there.  His opsec must be spot on.

[OutOfMemory]

You ever buy a Ledger?

https://twitter.com/Ledger/status/1288452973811703810

@Ledger

Our data show that 1M email addresses and 9500 detailed personal information leaked.

[...]

https://twitter.com/trezor/status/1288463431750885383

@Trezor

Fact of the day:
After 90 days, we get rid of all sensitive data about your order in our e-shop database (even e-mail addresses).

[...]

https://gdpr-info.eu/art-17-gdpr/

The "right to erasure". I'd take advantage of that, but many non-EU citizens might not be aware about it and a good amount of EU citizens, too.

[El duderino_]

When 12 o’clock ??

[Indymoney]

When 12 o’clock ??

Surely in August 

[Last of the V8s]

eth dragging us up. need eth to 'invest' in defi
defi is not the scam we want but it's the scam that will drive this bull, just like ico's last time
shrug

[infofront]

Good morning Bitcoinland.

Still consolidating around $11k after this week's jump up to 5 digits... currently $10986USD/$14747CAD (Bitcoinaverage).

Almost time to start moving up again.

Go Bitcoin go.

*Develop a strategy now and do not deviate*

Best strategy: Don't sell unless absolutely necessary.

Buy whenever possible and hold.

Resist the temptation to waste your bitcoins by buying fiat currencies just because the price went up. Be strong.

Do not deviate.

My original plan was to sell about 50% for fiat, and put it into a traditional retirement portfolio (stocks, etc.) for income. I've been doubting the long term viability of that, especially over the last several months.

Aside from trying to avoid the inevitable post-bubble crash, I'm more seriously considering keeping a higher percentage of BTC in BTC.

I realized that its possible to live mostly on BTC, at least in America.
https://99bitcoins.com/bitcoin/who-accepts/
https://www.hotcars.com/car-companies-accept-bitcoin/

There are some companies on here that I didn't realize take BTC. I'm pretty sure between using some of these companies, services like gyft.com, and a BTC-funded debit card for other incidental expenses, one could  easily come close to living entirely on bitcoin. Fiat would really only be absolutely necessary for most real estate purchases, and taxes.

eth dragging us up. need eth to 'invest' in defi
defi is not the scam we want but it's the scam that will drive this bull, just like ico's last time
shrug

That's what it's looking like.

[BobLawblaw]

https://twitter.com/whale_alert/status/1288939733868056577

[JayJuanGee]

https://twitter.com/excellion/status/1288648927399485440?s=21


hookerslamboblow.gif
moon.gif

whatever the forces are that make bitcoins price explode in the slow motion pattern we are experiencing, I find it hard to answer the question where will it ever stop? I have the gut feeling that there is no limit. where is the point of saturation? where will be an equilibrium reached between the new truly digital money and the rotting fiat system?
on the other hand, looking at the log chart price history it does appear to flatten out in the future. why is it flattening?

100k is indeed ridiculous. and so was 100 before.

Personally, I believe that the larger the market cap, the more likely bitcoin curve (and price) is going to be flattening out...

Pretty likely that it will start to flatten out somewhat in the $10million to $100 million range.

Why don't you an d some of your rich buddies test it out to try to prove me wrong?  

I dare you.  I double dare you.  I will bet you a whole bitcoin.