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

[Davyd05]

Cup and handle. Here comes the bounce. Sell @ $420-430.  

I see no cup and handle. It went $440 -> $410 then has sat around there for a few hours now.

looking at the 12hr I can see an upside down cup lol on stamp

regarding ideas of reversal and the like from my permabull family. ain't going to happen till the world outside of China stops caring about how they will be supplying the market with coins or as repeated by many China puts something concrete out there. This last revision is to have been a oral discussion, not clear if by phone or an in person representative of the PBoC. I personally give two fucks if China wises up, the coins aren't controlled by them, their controlled by all of us. Well except those that panic sell them all, but then those people are highly unlikely to be interested in bringing stability to the technology as much as they're trying to increase net worth.

[JorgeStolfi]

Give me new markets in central- or south-America and I'm buying.

Why here?  You mean that the rest of the world already got wise about the value of bitcoin? 

[oda.krell]

I BEGGED you assholes to dump on the dead cat bounce and buy back when $400 was retested. You could have increased your BTC holdings without spending an extra dime.

YEAH.... right.. .NOW you are calling names and acting self-righteous...  You can really be a turd.. sometimes..  ... while you are shitting your pants a day ago... ..

This current situation was hardly very probable in the minds of many of us, as you know different people gave their probabilities, and you even succumbed to describing this scenario as a long shot.

I'm not being self-righteous. I'm mad and probably too emotional. It was such a senseless loss. I didn't gain a penny from this. I sold, but didn't margin short. The people who did margin short prevented the $400 Wall breach when they closed their short positions. The good decentral bankers of bitcoin. The rest of us paid them to do their job.

My outlook now is the same as last night. 50/50 chance of a $400 breech. Huobi is priced in more, but I still think there is too much hope that they will be able to find a replacement bank. The volume of the $400 support wall test was pretty much exactly what I expected, so there is no new information about whether or not it will hold.

This is Bitcoin. It will make you tough, it will make you smart, or it will make you broke.

I appreciate your new style as a bear.

Markets don't work like that of course, but I wonder: if you could somehow convince people to give up all hope, and we'd see a huge drop all the way down to, say, 200, maybe 100, I'd bet we would see a new rally almost instantly afterwards, maybe to a new ATH.

But that's not how it works, of course. There's uncertainty. Reluctance to part with your precious coins that are going to be worth much much more one day (or so you hope).

So you don't sell. I'm not even calling it irrational, it *is* individually rational of you to hold.

But at the same time, it's because of that stubbornness that we're probably looking at a longer decline. Looks to me like the market will test the holders in a way it didn't since 2011.

[ChartBuddy]

Explanation

[octaft]

Naw, its pretty obvious who they are. If you want to act ignorant of that, it is cool with me.

Yeah, it's very obvious. It's like a solid 90% of posters on here.

Come on, you know there are plenty of bull "trolls" on here, too. You know, the guys who call sellers idiots and scream HODL all day long?

Now, if you mean ignore all the bear trolls, that's fine, but you have to specify that. Yeah, it's a smaller portion (simply due to the fact that this is a heavily pro bitcoin forum), and yes, it's pretty obvious who those people are.

[magicmexican]

It's funny to see, how snot nosed tools like you, try to dismiss someone just because their username registration date. It almost sounds like tools like you consider this forum experience as education needed for understanding markets and trading.

Nah mate i just dismiss you because you are a garbage position talker. At least fonzie pretends to be a retard, that gives people some entertainment, but you are just the lowest of the trash in the food chain, back to the ignore list you go.

It's again very dubious.
400 was supported, but there has barely been any rebound at all. Are we now creeping alongside 400 until we slowly sink through this psychological barrier of 400?

The days of fast rebounds are way past us, the market is in the slow motion

[Mervyn_Pumpkinhead]

Give me new markets in central- or south-America and I'm buying.

Why here?  You mean that the rest of the world already got wise about the value of bitcoin? 

Well, without jokes aside, that's kind of it.
The western markets are saturated. People decide their stance about bitcoin quickly, and they stick to that decision with rather radical belief. They either strongly love it or hate it, there are few people who are able to stay in the middle. Those who wanted in, are already in and those who didn't want in, won't ever enter.

Plus, there are plenty of countries in south- and central-America that have problems with crime and corruption, but have the resources to create a certain class of rich people who aren't well educated in the field of finance. People who have gotten rich with all kinds of shady shenanigans. And the best food for BTC growth would be someone who has money, but whose only knowledge about finance are youtube videos telling about banksters and their alien overlords of reptilian race.

I'm not lying to myself about bitcoin, it's not about liberty, freedom and saving the world. Bitcoin growth has the most potential where there is the most crime, corruption and dumb money. It would be ethical to stay out of this, but I'm saying "f*ck it" here. It's not like I'm robbing these people of their money by force. I think that it's part of natural selection that people who aren't equipped to handle wealth, should lose it to those who are. I have been kind of balancing my karma here by actually explaining most of the scheme to the people here, but they mostly attack me in return. So, I'm quite convinced that I'm doing the right thing here by saying "f*ck it".

[dreamspark]

A bounce just creates another drop at this point, I'd be much happier creeping up again.

So what Chinese exchanges are left to announce their banks closing?

[kurious]

The bank deposit thing I dont think is a massive problem. I can have a wire from my account and on Stamp in a couple of hours most of the time.

wow that's fast. sepa or wire transfer?

SEPA from the UK. Obviously its not a couple hours 24/7 but if I make the payment on a morning around 9 I normally have it by half 11 ish.

I haven't tried sepa in from uk - do you get the bank to send euros or send GBP via sepa...?

I haven't actually put fiat in for a long while, but I do use stamp so I would welcome 'best practice' advice.

[jonoiv]

I see a bear flag pretty clearly on huobi 15 min chart.   2290 in next 2-3 hours

either that or wait till  12 hours for China's new morning and.   differnt time scale... same result.

[Davyd05]

Naw, its pretty obvious who they are. If you want to act ignorant of that, it is cool with me.

Yeah, it's very obvious. It's like a solid 90% of posters on here.

Come on, you know there are plenty of bull "trolls" on here, too. You know, the guys who call sellers idiots and scream HODL all day long?

Now, if you mean ignore all the bear trolls, that's fine, but you have to specify that. Yeah, it's a smaller portion (simply due to the fact that this is a heavily pro bitcoin forum), and yes, it's pretty obvious who those people are.

funny how I don't quote the perma bulls ccmf pics etc

Wouldn't even go close to 90% of poster as these guys are the only ones I think really make their position uber obvious.

Bear; I've just completely given up on expecting anything mildly intelligent or well formed as an argument from Fonzie, Joinov, this Pumpkin character.
Neutral zone; which is Stolfi but probably a bear and or just enjoys trolling bitcoin.
bull bears; Billy
permabulls; I just don't re quote ccmf and trains page fillers ( however I will post ccmf myself to poke fun, when bears see the bulls bringing it out to early) however I've seen very little in the form of ccmf memes, and trains besides that of bears posting train wrecks compared to during the nov - dec rally.

give me an example of a permabull who shouts that we're going to a 1000 tomorrow everyday, I seem to be missing thier posts but don't deny that it maybe happening. Cause I have to read from bears were going to double digits on the daily..

edit: yeah I mainly ignore the troll bears, but I've give up on the others from time to time.

[dreamspark]

The bank deposit thing I dont think is a massive problem. I can have a wire from my account and on Stamp in a couple of hours most of the time.

wow that's fast. sepa or wire transfer?

SEPA from the UK. Obviously its not a couple hours 24/7 but if I make the payment on a morning around 9 I normally have it by half 11 ish.

I haven't tried sepa in from uk - do you get the bank to send euros or send GBP via sepa...?

I haven't actually put fiat in for a long while, but I do use stamp so I would welcome 'best practice' advice.

I send Euros but Im not sure how much difference that would make to time taken, have done a dozen SEPA's and only one was delayed and that was the time around beggining of november when stamp had their bank Issues and we had to wait a few days.

[fonzie]

Come on Bitcoin mini-bounce already so that we can continue our decline.
I´ll give it 45 min until someone screams trend reversal in here  

[Guinpen]

Newbie question again: what is this CCMF meme I keep hearing about?

[octaft]

give me an example of a permabull who shouts that we're going to a 1000 tomorrow everyday, I seem to be missing thier posts but don't deny that it maybe happening. Cause I have to read from bears were going to double digits on the daily..

There were plenty of them during the run up. I see it as the uptrend was the bulls turn, and now it's the bears turn, so I don't complain about either, really.

[dreamspark]

Newbie question again: what is this CCMF meme I keep hearing about?

Choo Choo Mother Fucker posted over general pictures of trains being badass 

[ShroomsKit]

Wow, this China crap again?

Are we going to get each week Bitcoin banned by China, banks of China, someone from China, the dog from someone from China and whatever comes from China BUT without an official/written confirmation until we reach zero?

This sucks.

Yes, good chance we will.

[magicmexican]

A bounce just creates another drop at this point, I'd be much happier creeping up again.

So what Chinese exchanges are left to announce their banks closing?

There could be plenty more bad news coming out, so far its been like 1 bank @huobi and stuff, the potential of more news is still there. And it even does not have to be much, since market reacts pretty drastically from anything coming from China.

[kurious]

The bank deposit thing I dont think is a massive problem. I can have a wire from my account and on Stamp in a couple of hours most of the time.

wow that's fast. sepa or wire transfer?

SEPA from the UK. Obviously its not a couple hours 24/7 but if I make the payment on a morning around 9 I normally have it by half 11 ish.

I haven't tried sepa in from uk - do you get the bank to send euros or send GBP via sepa...?

I haven't actually put fiat in for a long while, but I do use stamp so I would welcome 'best practice' advice.

I send Euros but Im not sure how much difference that would make to time taken, have done a dozen SEPA's and only one was delayed and that was the time around beggining of november when stamp had their bank Issues and we had to wait a few days.

Thanks - I have been lazy and just used Speedybitcoin (great help if you need to react quickly BTW) instant your cash hits them, the BTC is sent.  But of course they take a cut...

Now I think it is time to get some backup fiat in ready for whatever may transpire... 

Cheers

[mmitech]

I think I am getting greedy, I just sent some of my savings to Bitstamp, if the price will drop more I will risk and add some more coins to my stash, I have mixed feelings about this as I don't know what is the point of growing my stash at this point.