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

[ChrisML]

KNOCK KNOCK!

$500???

[marcelus]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

Buy back.

Stop reading news.

Stop caring about price.

*Have your friend call you if and only if Bitcoin experiences a sell signal (0.4 log units above trendline).

Live your life.

Wait for the call.

When it comes, check if selling max 50% of your bitcoins is enough to retire.

If yes, sell them. If no, take 20% out as profits and buy something nice.

Go to *.

Spot on. They're either the future or they're not. If you believe they are, short-term volatility shouldn't bother you. Any price under $3k is a good price to buy IMO.

[Dr. LY]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

Buy back.

Stop reading news.

Stop caring about price.

*Have your friend call you if and only if Bitcoin experiences a sell signal (0.4 log units above trendline).

Live your life.

Wait for the call.

When it comes, check if selling max 50% of your bitcoins is enough to retire.

If yes, sell them. If no, take 20% out as profits and buy something nice.

Go to *.

Will do. Thanks.

Get to learn the hard way that trading is not for me.

[rudius]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

I feel for you man, but just reading around you should know rule 101 is dont listen to others about your investment decisions.

Take it as a lesson learnt, you clearly didnt get into BTC for the right reasons firstly but take the standard investment advice of;

Dont risk more than your willing to loose
Never go all in
Never go all out
Dont listen to people on the internet.

I may just add that if you have no clue about what you are doing, you have to be ready to HODL!!! Never sell the low, this is a thin market. Manipulation is in order.

If you come back with us, be ready to suffer. No pain No gain. This is not a get rich easy thing.

[joburgtaxi]

Anyone want to speculate on the effects to Bitcoin when this happens ?

http://www.theguardian.com/technology/2014/apr/14/facebook-e-money-transfer-service-europe

[chessnut]

Will do. Thanks.

Get to learn the hard way that trading is not for me.

there is only one way to learn how to trade. the hard way.

also, I think for an asset that has grown 8000% in a year, we should never be surprised when it halves! hold on tight!

[TERA]

So whats the official trendline break target? I thought it was around ~$480-$490?

Linear $515.

Logarithmic $580.

[dreamspark]

So whats the official trendline break target? I thought it was around ~$480-$490?

Linear $515.

Logarithmic $580.

Thanks, today could be the day...

[RoadTrain]

It's training men, hallelujah!

[podyx]

btc-e 530 LOL!!!

[dreamspark]

WTF BTC-e to 554!!!

[rudius]

btc-e 530 LOL!!!

haha Bears starting to feel the pain

[podyx]

Why isn't huobi biting?

[Cassius]

Anyone want to speculate on the effects to Bitcoin when this happens ?

http://www.theguardian.com/technology/2014/apr/14/facebook-e-money-transfer-service-europe

We knew this was coming. Others will too (Google...?).
Not sure what I think. Bitcoin has a good headstart in terms of regulation, but Facebook has the bigger network and the clout to catch up fast.
Possibility of an integrated service or users combining them in some way?
Facebook is also centralised, which bitcoin is not.
Not an existential threat, anyway.

[jonoiv]

I don't have any clue wtf to do now.

I bought my first btc at around 680 because there were "cheap coins."

I bought more on the way down to 500 to "cost average"

I put almost my entire savings at 480

Then everyone said if it broke 400 we were screwed and there was NO good news from China at all so I sold at 399.

So wtf do I do now? I've lost thousands and the money hasn't hit my bank account so I can't even buy back in. Wtf do i do?

You already did the wrong thing by going all in or all out.. in my thinking. 

You have to chose what to do based on your own risk profile and goals and diversification with other investments.

Even if you buy all back in now, there is no guarantee that the price is gonna continue to go up and you may lose again.  I started buying at $1200 and my average buy in price is $613-ish including fees.  Sure I am still in the red, and  I have more fiat to buy more.. but at times I have felt very stretched.. so I am glad that the market is finally going back up... but still NO guarantees with any of this.

I would begin a more sensible strategy that works for you and that you do NOT engage in panic buying or panic selling.. your strategy may differ from mine, but you need to find the one that works for you.

To the OP.  I have never agreed with JayJuanGee on any major point.  But he is correct here.

The most important lesson is patience.   Patience lessons are expensive ones, but they're lessons you rarely forget.   I have sold at the bottom in the past,  I make mostly successful trades but have also made some serious errors.  

[Dalmar]

WTF BTC-e to 554!!!

bots have gone insane. 

[jonoiv]

btc-e 530 LOL!!!

yer WTF?

[criptix]

i gonna miss all the china fud and bearish sentiments  

but maybe this is just a big trap, we will see  

[ChartBuddy]

Explanation

[podyx]

bear-e showing the way!