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

[kehtolo]

I think he meant 1% either side.. anyways...

[1714858199]

1714858199

[1714858199]

1714858199

[1714858199]

1714858199

[akujin]

OK I got it
You can't blame me... I can't understand what he's talking about 

[ChartBuddy]

Explanation

[JorgeStolfi]

Besides, you shoudn't take this board as a model of how the market feels. I doubt that more than 10% of the top 10 traders and holders of BTC use this forum frequently.

Only 338 people bothered to reply to Adam's  poll, so perhaps only 337 traders read this thread regularly. 

[oda.krell]

Windy is hardly a perma bear, he's one of the few here who actually changes his opinion after weighing up what the market is doing.  He was very bullish for the second half of last year, even before the upturn in November.

Everyone seems to be in denial (cue pictures of Egyptians) at the moment but what he is saying is pretty basic -- people have to buy BTC for the price to go up and there is no new currency on the order books, the bid/sum ratio is creeping back to 1:2. 

Everyone seems to think the toothfairy is going to wave her magic wand and buy 50K BTC out of nowhere (but I suspect she is a bit disillusioned with BTC and its associate fraudsters, dodgy exchanges, bans and bad press).

Now, more than ever, its time to realise BTC is about the technology not the currency.

You can predict the future price from the orderbook?

The price has fallen back from the ATH. Last month it hit the low 3xx's. It takes a relatively modest amount of buying to improve the technical picture and break us definitively out of this down trend. Then you will see buying, and when miners see the price rising they will hold out for higher prices and supply will dry up, prices will rise, sentiment on here will magically follow price action and.. you've seen what happens next no doubt.

Do i pretend I know when it will happen? No. But it does not require the intervention of a tooth fairy and I doubt any whale(s) entering the market and triggering a trend change will give advance notice to the trolls on here.

Look, it's not our problem you're unable to read charts, or wrap your head around even the most basic aspects of TA.

Furthermore, if you find yourself in a position where you accuse a (sometimes confrontational, but rarely trolling) user like windjc to be a permabear, who is posting just to manipulate the market, you can be pretty sure you will be one of the many suckers in this game who will learn the hard way that the rules of the market don't stop for Bitcoin.

To be clear: There is disagreeing with someone's opinion or analysis, and then there is sticking your fingers into your ears shouting 'I can't hear you'. For more than a month now, the latter is the dominant response in here by the investors that were lulled into a false sense of security by the various loglinear trendlines that keep being posted in here so often.

They will be in for a rude awakening: if they 'hodl' as advised, they will continue to spend many more uncomfortable hours and days seeing their net value decline. If they finally give in and sell, most of them will note that they haven't equipped themselves with the necessary tools to be effective traders, so they will lose as well.

As a result, the majority will tend to hold, but they will become increasingly vitriolic at any suggestion that the return to the magic exponential growth trendline is not imminent:

"Fuck you, reality! Why can't you already fall in line with my wet dreams of being a billionaire next year?"

[dreamspark]

No but its an okay indication. Where else can you go and judge such a range of emotions all about Bitcoin.

In traditional stocks the investors are far more spread out, secretive and certainly don't congregate on an internet forum to talk about it.

[JorgeStolfi]

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it?

Hm, isn't that copy-paste from a post of mine?

copyrights ? does it matter ?

No, just surprised to have a fan here. 

[N12]

Windy is hardly a perma bear, he's one of the few here who actually changes his opinion after weighing up what the market is doing.  He was very bullish for the second half of last year, even before the upturn in November.

Everyone seems to be in denial (cue pictures of Egyptians) at the moment but what he is saying is pretty basic -- people have to buy BTC for the price to go up and there is no new currency on the order books, the bid/sum ratio is creeping back to 1:2. 

Everyone seems to think the toothfairy is going to wave her magic wand and buy 50K BTC out of nowhere (but I suspect she is a bit disillusioned with BTC and its associate fraudsters, dodgy exchanges, bans and bad press).

Now, more than ever, its time to realise BTC is about the technology not the currency.

You can predict the future price from the orderbook?

The price has fallen back from the ATH. Last month it hit the low 3xx's. It takes a relatively modest amount of buying to improve the technical picture and break us definitively out of this down trend. Then you will see buying, and when miners see the price rising they will hold out for higher prices and supply will dry up, prices will rise, sentiment on here will magically follow price action and.. you've seen what happens next no doubt.

Do i pretend I know when it will happen? No. But it does not require the intervention of a tooth fairy and I doubt any whale(s) entering the market and triggering a trend change will give advance notice to the trolls on here.

Look, it's not our problem you're unable to read charts, or wrap your head around even the most basic aspects of TA.

Furthermore, if you find yourself in a position where you accuse a (sometimes confrontational, but rarely trolling) user like windjc to be a permabear, who is posting just to manipulate the market, you can be pretty sure you will be one of the many suckers in this game who will learn the hard way that the rules of the market don't stop for Bitcoin.

To be clear: There is disagreeing with someone's opinion or analysis, and then there is sticking your fingers into your ears shouting 'I can't hear you'. For more than a month now, the latter is the dominant response in here by the investors that were lulled into a false sense of security by the various loglinear trendlines that keep being posted in here so often.

They will be in for a rude awakening: if they 'hodl' as advised, they will continue to spend many more uncomfortable hours and days seeing their net value decline. If they finally give in and sell, most of them will note that they haven't equipped themselves with the necessary tools to be effective traders, so they will lose as well.

As a result, the majority will tend to hold, but they will become increasingly vitriolic at any suggestion that the return to the magic exponential growth trendline is not imminent:

"Fuck you, reality! Why can't you already fall in line with my wet dreams of being a billionaire next year?"

FUD

[dogechode]

Maybe it's time to start accepting that 400-500 is just going to be the new price range for btc for a while until something significant changes.

[edwardspitz]

I had another look at btcxindia this morning before work. https://btcxindia.com looks fake. A Wordpress or Drupal site with a Themeforest template + a bunch of BS social media profiles.

Fake or just cheap?

If it is fake then it is semi expensive. If it is real it is very cheap. My feeling is that it is fake. It definitely feels fake.

The above graph is taken from https://btcxindia.com/live_trade/ - I see a potential here... by combining this graph with TA techniques know from facial analysis (see https://www.youtube.com/watch?v=hakaoQ9L1RM)

[N12]

http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

[niothor]

I had another look at btcxindia this morning before work. https://btcxindia.com looks fake. A Wordpress or Drupal site with a Themeforest template + a bunch of BS social media profiles.

Fake or just cheap?

If it is fake then it is semi expensive. If it is real it is very cheap. My feeling is that it is fake. It definitely feels fake.

The above graph is taken from https://btcxindia.com/live_trade/ - I see a potential here... by combining this graph with TA techniques know from facial analysis (see https://www.youtube.com/watch?v=hakaoQ9L1RM)

Honestly I first thought this was a joke and this was one of those self made graph , but , checking the website... wtf is this?

[niothor]

http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

I know that this is your favorite stuff , about bitcoin "cultist" , but shouldn't a mod know that it has already been posted 10 times in this thread?

[N12]

http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

I know that this is your favorite stuff , about bitcoin "cultist" , but shouldn't a mod know that it has already been posted 10 times in this thread?

Thought it was worth reading once again considering the current climate.

And as time passes and the inevitable fizzle-out of Bitcoin becomes visible, those believers will splinter. More will drop out of the cult. And the ones who remain will only grow more convinced, more zealous, more eager to share the good news.

Remind you of anyone?

[wachtwoord]

I know that this is your favorite stuff , about bitcoin "cultist" , but shouldn't a mod know that it has already been posted 10 times in this thread?

Everything ever has been posted in this thread at least 10 times. This is the greatest database known to man.

[niothor]

http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

I know that this is your favorite stuff , about bitcoin "cultist" , but shouldn't a mod know that it has already been posted 10 times in this thread?

Thought it was worth reading once again considering the current climate.

And as time passes and the inevitable fizzle-out of Bitcoin becomes visible, those believers will splinter. More will drop out of the cult. And the ones who remain will only grow more convinced, more zealous, more eager to share the good news.

Remind you of anyone?

Should I start posting usernames or just the link to https://bitcointalk.org/index.php?action=mlist ? =))))))

Although I believe there is a bit of truth behind that article you can't argue that is comes from a person who is against BTC from the start and it doesn't even care to view the benefits the bitcoin protocol might bring.

[octaft]

Yes, it is possible that I used words that were stronger than necessary to make my point; however, without really being able to put my finger on the situation, exactly, I am getting the sense that you are being quite disingenuous with your pursuit to engage me in various topics, including this one.  So maybe my language was a bit stronger than it needed to be - even though I was attempting to be descriptive of my frustration that you seemed to have been purposefully missing various points attempting to describe matters in ways other than what they were.  In the end, I think my response was appropriate and within a context in which the response seems to fit.

I'm beating around the bush heavily, but with no intent to troll. It's just that people don't really know what they want until you make them think about it. I'm asking you questions to make you think about it. Imagine it an effort to open your eyes to my opinion -- that it's harder than it seems to moderate a forum and judge what is acceptable -- without gracelessly shoving it down your throat.

[Wolf Rainer]

Explanation

I never get that grapichs. What the red means?

[N12]

Explanation

I never get that grapichs. What the red means?

http://www.rtcons.com/wall/explanation.html

Red is asks.

[oda.krell]

http://nymag.com/daily/intelligencer/2014/03/doomsday-cult-of-bitcoin.html

I know that this is your favorite stuff , about bitcoin "cultist" , but shouldn't a mod know that it has already been posted 10 times in this thread?

Thought it was worth reading once again considering the current climate.

And as time passes and the inevitable fizzle-out of Bitcoin becomes visible, those believers will splinter. More will drop out of the cult. And the ones who remain will only grow more convinced, more zealous, more eager to share the good news.

Remind you of anyone?

Should I start posting usernames or just the link to https://bitcointalk.org/index.php?action=mlist ? =))))))

Although I believe there is a bit of truth behind that article you can't argue that is comes from a person who is against BTC from the start and it doesn't even care to view the benefits the bitcoin protocol might bring.

+1

The article is onto something (many in here *are* cultists), but in their total dismissal of BTC the author isn't any better either.