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

[Spaceman_Spiff]

Does that function like the bat-signal?
"Out of nowhere, our hero trader emerges and slowly but confidently draws his ruler... "


EDIT: or maybe it just shows we are on our way back to earth after visiting the moon...

[MoreFun]

You bought back in?

[seleme]

You bought back in?

Haha, not yet

that's me and my wife:

[adamstgBit]

I guess that 563$ seller from few days ago was someone in the know.

ya maybe he "knew" he was going to make up BS fud about china banning bitcoin and make it look as legit as possible / use sock puppet accounts to help spread / legitimize the "news"

[adamstgBit]

do poeple actually believe the china news or do they believe other people might believe it and so they sell

when will poeple understand??

its not about selling to the greater fool

its about buying from the most foolish

BUY BUY BUY!

[adamstgBit]

holly molly
even the poll is showing bearish results!
how can this not be bottom?

[nrd525]

It is very hard to tell but this ban rumor may not be a rumor. I'm 50/50 on it.  It might end up being a lot of restrictions, not a complete ban.

[edwardspitz]

Before I wrote that coins were a bit overpriced at Kraken. They now appear to be back to normal

[Stevenrm87]

Nobody knows if a BTC is going to go up, down, sideways or in circles. You know what a Fugazi is?

[adamstgBit]

It is very hard to tell but this ban rumor may not be a rumor. I'm 50/50 on it.

we heard the same "news" last week it.
it didn't work the central bank said it was Bogus FUD.
so what, now the bank is like " ok..... NOW its true "
i can't believe it, thats not believeable

BUY BUY BUY

[Dalmar]

holly molly
even the poll is showing bearish results!
how can this not be bottom?

Are there suicidal posts on r/Bitcoin yet? The bottom is in once they show up.  

[Spaceman_Spiff]

holly molly
even the poll is showing bearish results!
how can this not be bottom?

Are there suicidal posts on r/Bitcoin yet? The bottom is in once they show up.  

Yeah, that's not funny at all...

[KeyserSoze]

You know what a Fugazi is?

A fake diamond kept in the folded handkerchief of Al Pacino?

[JorgeStolfi]

To the tune: Let It Snow!
[ ... ]
Let It Fall! Let It Fall! Let It Fall!

Ok, 13.27 of your sins are hereby forgiven.

[lemonte]

It is very hard to tell but this ban rumor may not be a rumor. I'm 50/50 on it.

we heard the same "news" last week it.
it didn't work the central bank said it was Bogus FUD.
so what, now the bank is like " ok..... NOW its true "
i can't believe it, thats not believeable

BUY BUY BUY

I think the original could possibly have been leaked information. Now it's being made official!

[Dalmar]

Yeah, that's not funny at all...

It's harsh, but great indicators during the first China crash and the Gox crash.

[Zapffe]

What I'm saying is that these bitcoinwisdom line drawing attempts aren't trustworthy speculations. It wouldn't be worth of mentioning when the majority of the forum wouldn't consider them as trustworthy. When MtGox crashed, then the majority thought that we are back on an uptrend just because couple of reputable baffoons drawed couple of lines, that "proved" this. If the market were smarter, then everyone would earn more money. This unstable market that is lead by chaotic desperation and illusions, isn't very attractive any more, and I really want it to be attractive! So smarten up ffs and stop drawing lines and start concentrating at the general nature of the market.

You are appearing to be so bitter to merely criticize and attack and denigrate without offering any meaningful alternatives.    You seem to be suggesting to predict BTC prices by just doing whatever feels good or feels right at the time... little objective guidance with those kinds of abstract considerations. 

YES, maybe line drawing is NOT the be all end all.... and few are saying that it is...

Surely there are other pieces of evidence that can be accounted to consider the price direction of BTC besides line drawing, and I think everyone agrees to that.. Also, everyone seems to agree that the past does NOT predict the future and that various variables can alter the line drawing predictions... so in this regard, you seem to be attempting to attribute much more predictive value to the line drawings than the line drawers themselves are attributing to such lines.

Is it really hard to understand these simple concepts:

Shutdown of an important market = Loss of demand caused by closing an important channel of incoming flow = Price lowers
Shutdown of an important market, together with the loss of customer funds = Bigger loss of demand, caused by closing an important channel + loss of trust towards the entire market system = Price lowers even more

THE thing to consider with cryptos are the markets. How many markets there are in different geographical places and how comfortable do people feel in using them. This is the main factor that creates demand, so it's the most important factor to consider, since supply is relatively stable and predictable. And you can't understand this aspect by drawing lines in graphs. You could get better predictions by using volume in that equation, not just draw a line between bottoms and tops. But volumes can be faked in crypto, so it's not solid either. Stable trends only apply to markets that are very stable. Where things like 4 seasons of the year or restrictions of the law affect the price in the repeating pattern. Drawing lines in the crypto market is insanity, because the entire market is based on speculation and the entire environment is quickly changing. You have to think on your feet to trade effectively, not just draw lines. I think that the mindless line drawers are the reason on why there is so much uncertainty and confusion. They are leading the people to look at things that doesn't matter and then again everyone will be surprised that why didn't it go like this. And always after the line drawer predictions didn't come through, then they begin acting like they knew about this all along, and the lemmings forgot how certain they were about their lines just couple of weeks ago.

[adamstgBit]

It is very hard to tell but this ban rumor may not be a rumor. I'm 50/50 on it.

we heard the same "news" last week it.
it didn't work the central bank said it was Bogus FUD.
so what, now the bank is like " ok..... NOW its true "
i can't believe it, thats not believeable

BUY BUY BUY

I think the original could possibly have been leaked information. Now it's being made official!

so last week when the bank said that it was false rumors, that was an early april fools joke?

china wtf get your story straight

[gizmoh]

It is very hard to tell but this ban rumor may not be a rumor. I'm 50/50 on it.

we heard the same "news" last week it.
it didn't work the central bank said it was Bogus FUD.
so what, now the bank is like " ok..... NOW its true "
i can't believe it, thats not believeable

BUY BUY BUY

Breaking News: PBOC is the New Mark Karpeles 

[JoeyD]

This China ban news is starting to get a bit old, is there a way to get things over with and be done with it?

I want more diverse bad news for the downtrend till around April.

Btw I have been wondering for a while, there seem to be a lot of people who are convinced that the Chinese just about own bitcoin, but what actual proof is there? The exchanges operate with zero fees and they have been caught sticking on extra zeros. Add to that that there are around 250k btc-addresses with more than 1 BTC worlwide, I don't see how that equals to millions of Chinese btc-holders.