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

[Schickeria]

... a lot of people ... have no plan...

Here's a plan that works well in this situation, in case anyone is lacking a necessary plan:  Buy low, sell high.  Now is the buy low part.

Buy low, sell high is not a plan, it's more the motto for the plan ;-)

But talking seriously - no matter where the bottom is, on 560 or a lot lower - people should mentally plan bearish cases, too.

Or they freak out on unexpected movements.

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[vuduchyld]

Everyone's just talking around here, let's put our money where our mouths are and buy some BTC in order to get this baby on course to the moon again! 

How would you know if posters here are buying or NOT?  I'm sure some posters here are buying (and of the belief that you should buy while the prices are going down... or at least attempting to buy most at the lowest price point - without missing the boat).  I bought some at $575, and I did NOT know whether prices would go lower, and then I will likely buy some more at $550 or so,,, and maybe at other points... depending on the passage of time and whether BTC prices go lower.

To be honest, I believe that a lot of people around here already maxxed out their allotment which they allow themselves to invest in BTC. Some may even be well above a reasonable level.

Yeah, that is the problem. Too many young and/or inexperienced participants in this market. I have to chuckle when most people talk about "fundamental analysis" here because it doesn't apply in the traditional sense. BTC is the epitome of a speculative play. It could go way up or way down. It moves independently of news.  There is no balance sheet and no history of earnings to analyze.  Yet people are over-invested and over-leveraged to the hilt.

When I go to bed tonight, I will sleep well. When I wake up, if the price is lower, I will buy more. I don't care if it is $540, $520, $400, or even lower. If people can't say the same, they should lighten their load.  But not now. Bad time to sell.

[adamstgBit]

this could be the reason for the drop in price the past few day?

https://www.youtube.com/watch?v=A6dboY9FtDo

"BitLicense"

I guess i missed this news when it came out.

so apparently Bitcoin is pretty hard to use to buy small things in NY ( you have to give allkinds of info to buy anything with bitcoin in NY? )

[kurious]

Everyone's just talking around here, let's put our money where our mouths are and buy some BTC in order to get this baby on course to the moon again! 

How would you know if posters here are buying or NOT?  I'm sure some posters here are buying (and of the belief that you should buy while the prices are going down... or at least attempting to buy most at the lowest price point - without missing the boat).  I bought some at $575, and I did NOT know whether prices would go lower, and then I will likely buy some more at $550 or so,,, and maybe at other points... depending on the passage of time and whether BTC prices go lower.

To be honest, I believe that a lot of people around here already maxxed out their allotment which they allow themselves to invest in BTC. Some may even be well above a reasonable level.

Yeah, that is the problem. Too many young and/or inexperienced participants in this market. I have to chuckle when most people talk about "fundamental analysis" here because it doesn't apply in the traditional sense. BTC is the epitome of a speculative play. It could go way up or way down. It moves independently of news.  There is no balance sheet and no history of earnings to analyze.  Yet people are over-invested and over-leveraged to the hilt.

When I go to bed tonight, I will sleep well. When I wake up, if the price is lower, I will buy more. I don't care if it is $540, $520, $400, or even lower. If people can't say the same, they should lighten their load.  But not now. Bad time to sell.

+1

[drez]

Everyone stop panicking.  This is following what I said earlier today.  We are past the second horizontal,  but it still could hold which means we will be following a triangle to a point before a crash or a moonshot.  But what I think will happen is 560 will break and then we will rally around 540 in keeping with the slight downward trend from June first.  If there isn't a rally there then  or 540 won't hold,  then the long term trend should keep it above 515.  If that fails.  We are in for a ride and I expect some crazy action.  

http://imageshack.com/a/img536/8384/OyNafd.png

Saying 'don't panic' then predicting a possible 515 or worse, is actually infuriating - apologies - but I am personally hoping the 550s is as bad as it gets!

But 515 is the long term trend bottom.  After that it's a climb back to 630-40.   I expect a spring bounce.  But if 515 fails all hell will break loose and anything is game at that point.  Basically don't panic until you see 520,  and then don't loose your shit until we hit 510.

I really don't know which long term charts you are using, but my first really important long term Trendline is a lot lot lower. So we both can hope that your Trendline is stable.

To not to terrify, if your Trendline got broken you really should search on lower levels. I think a lot of people here are getting shaken because they have no plan B(earish) and to high expectations.

Long term bottom channel trendline (up slope)  is  515.  There are horizontal support pockets below that.  But they are in the 400's and 300's.  I don't see it getting that bad.  But I'm ready if it does.

[Schickeria]

Everyone stop panicking.  This is following what I said earlier today.  We are past the second horizontal,  but it still could hold which means we will be following a triangle to a point before a crash or a moonshot.  But what I think will happen is 560 will break and then we will rally around 540 in keeping with the slight downward trend from June first.  If there isn't a rally there then  or 540 won't hold,  then the long term trend should keep it above 515.  If that fails.  We are in for a ride and I expect some crazy action.  

http://imageshack.com/a/img536/8384/OyNafd.png

Saying 'don't panic' then predicting a possible 515 or worse, is actually infuriating - apologies - but I am personally hoping the 550s is as bad as it gets!

But 515 is the long term trend bottom.  After that it's a climb back to 630-40.   I expect a spring bounce.  But if 515 fails all hell will break loose and anything is game at that point.  Basically don't panic until you see 520,  and then don't loose your shit until we hit 510.

I really don't know which long term charts you are using, but my first really important long term Trendline is a lot lot lower. So we both can hope that your Trendline is stable.

To not to terrify, if your Trendline got broken you really should search on lower levels. I think a lot of people here are getting shaken because they have no plan B(earish) and to high expectations.

Long term bottom channel trendline (up slope)  is  515.  There are horizontal support pockets below that.  But they are in the 400's and 300's.  I don't see it getting that bad.  But I'm ready if it does.

Good to hear this. The one I'm looking on is in the 300's (not horizontal - but rising trendline). The others are a bonus if they hold. I suppose that the bullish mania will stop before reaching those low levels, so I agree: I'm not seeing it getting that bad, too.

[justusranvier]

On the bright side, the page count in this thread hit an all time high today.

[vuduchyld]

Everyone stop panicking.  This is following what I said earlier today.  We are past the second horizontal,  but it still could hold which means we will be following a triangle to a point before a crash or a moonshot.  But what I think will happen is 560 will break and then we will rally around 540 in keeping with the slight downward trend from June first.  If there isn't a rally there then  or 540 won't hold,  then the long term trend should keep it above 515.  If that fails.  We are in for a ride and I expect some crazy action.  

http://imageshack.com/a/img536/8384/OyNafd.png

Saying 'don't panic' then predicting a possible 515 or worse, is actually infuriating - apologies - but I am personally hoping the 550s is as bad as it gets!

But 515 is the long term trend bottom.  After that it's a climb back to 630-40.   I expect a spring bounce.  But if 515 fails all hell will break loose and anything is game at that point.  Basically don't panic until you see 520,  and then don't loose your shit until we hit 510.

I really don't know which long term charts you are using, but my first really important long term Trendline is a lot lot lower. So we both can hope that your Trendline is stable.

To not to terrify, if your Trendline got broken you really should search on lower levels. I think a lot of people here are getting shaken because they have no plan B(earish) and to high expectations.

Long term bottom channel trendline (up slope)  is  515.  There are horizontal support pockets below that.  But they are in the 400's and 300's.  I don't see it getting that bad.  But I'm ready if it does.

Strong hand, like bull!

My dollar cost average was $476 before my recent buying spree on this ride down. So I've raised it over the last ten days. Haven't figured it yet, but surely around $500.  That said, I'm ready for anything, as well!

[Davyd05]

Best part is we chased Tera away, and I swear she was calling for this before she left. Shout out to TERA

[wiak2]

Everyone waiting for bottom to buy back in, ask side is shallow.  This thing could rebound surprisingly fast.  Looking quite oversold at the moment.

[JayJuanGee]

That's it,  crypto ponzi is going to POP. Big people earned enough money, now it is time to exit.

Good one  

Just re reading Chromosoma's posts.. Hilarious, calls for $300 at every tiny drop! He/she sounds like a broken record.

Haven't seen him/her for a while, and in that regard s/he likes to make an appearance during special periods, like this.       

[wiak2]

This feels like July of last year actually when we bottomed out around $63 or so.  Everyone calling the end of Bitcoin, then we steadily rose then blew up in the fall.

[JayJuanGee]

i guess i'll join the party and buy some myself...

kinda went all in at 636CAD, but i always keep a couple thousand just incase i feel like "over extending" my position, i guess now is a good time for that

i'd be lying if i said i didnt have any doubts... fuck man, am i positioning myself in a conner  

time will tell

Maybe only put in half of that "couple thousand," and then wait and see with the rest.  I would hate to see you completely without fiat, if the time comes for a better bargain.

[Davyd05]

This feels like July of last year actually when we bottomed out around $63 or so.  Everyone calling the end of Bitcoin, then we steadily rose then blew up in the fall.

there are a lot of pure speculators, in it for the quick money.. these times if played right make them the quickest dollars. not everyone is as greedy or ballsy whichever way you wanna see it.

[Schickeria]

Everyone waiting for bottom to buy back in, ask side is shallow.  This thing could rebound surprisingly fast.  Looking quite oversold at the moment.

Low Volume Rally? :-)

[JayJuanGee]

Everyone stop panicking.  This is following what I said earlier today.  We are past the second horizontal,  but it still could hold which means we will be following a triangle to a point before a crash or a moonshot.  But what I think will happen is 560 will break and then we will rally around 540 in keeping with the slight downward trend from June first.  If there isn't a rally there then  or 540 won't hold,  then the long term trend should keep it above 515.  If that fails.  We are in for a ride and I expect some crazy action.  

http://imageshack.com/a/img536/8384/OyNafd.png

HEhehehehe.... $515 is gotta hold!!!!!!  NO?

[empowering]

Everyone waiting for bottom to buy back in, ask side is shallow.  This thing could rebound surprisingly fast.  Looking quite oversold at the moment.

Low Volume Rally? :-)

Why not... this is a low volume dip

[Junkbarman]

Buy Buy Birdie

[empowering]

560/2 ...Could it be?

[Schickeria]

Everyone waiting for bottom to buy back in, ask side is shallow.  This thing could rebound surprisingly fast.  Looking quite oversold at the moment.

Low Volume Rally? :-)

Why not... this is a low volume dip

That's true.