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

[Brewins]

FUU, we broke the 540's while I was sleeping
At least I was expecting something like that to happen, now the next strong resistence will the find only at the 400's.

But I see clear signals of manipulation(really big bull walls), so its more how far away the manipulators are willing togo than where is the next resist the graph show we must find


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[Dump3er]

i can now just wait and watch for a strong bull reversal.

That's the sprit we need, dude! We need more buyers for this bull trap. C'mon dude, buy more! Give yourself a push, you surely have some fiat on the sidelines!

read over what i said. i am waiting in fiat and not bottom fishing. i'll let others catch the knives, i don't need to catch the bottom.

Oh dear, sorry for the mistake! But we need more uber-bulls! C'mon bulls buy more cheap coins from the stupid sellers! For sure, after buying you can boast here, humiliating retard sellers! Buy! Buy! 525,00 was the bottom!

[oda.krell]

What's happening is people are taking profits and cutting their losses after a breakdown? Or is that too realistic?

Surely anyone can only take so much of living in their parents' basement while they're holding tens of thousands of bitcoins however much they believe in it. It's not a bad time to take some profits.

I would say it is actually a terrible time to take profits.  Should have done it weeks ago if one wanted to maximize that profit.  That, or hold on until the next run up.  And make no mistake, there will be one.  

Why? There are two obvious candidate scenarios to take profits, i.e. exit a long position: early on after a rally, at a suspected peak (which requires a certain amount of predictive analysis), and comparably late, when it looks like the only way to go from here is down (momentum based analysis). To me it looks like the current move is driven mainly by the second factor.

You're right...if you're exiting now, you're saying that the only way to go is down.  And you'd likely be looking at a reasonably long time horizon, because if it is a profitable long position, you've been in it at least three months.

If you really see nothing but down  you cost yourself quite a bit by not realizing that 24 hours ago.  If you think it might rebound, hell, you've already been in it a while.  

Keep in mind, I'm just trying to give an explanation on why I don't see the swing of the last days as driven by "panic selling". Sure, if your trading horizon is daily, then selling today at $530 was a miss probably. And if your assumptions about Bitcoin are such that, in a year from now, you think it'll be worthless anyway, you should have sold long ago.

But if you, like a number of speculators/semi-holders/traders/whatever in here, are mostly opportunistic, and don't subscribe to the mantra that any price below the ATH (or some uber-optimistic regression trendline) is "cheap", then what's so irrational about selling now, expecting that you'll be able to buy back cheaper in a week (or a month) from now, when and if the market turns around again.

Time will show if it was indeed "panic selling" or not. If price goes further down from here, it wasn't. If we recover and never touch the mid-500s again, it was.

[ChartBuddy]

Explanation

[jillkelly]

I would love to know what the aminorex´s monkey thinks of the lasts swings.

i thought he said something like if 540 fell, then 440 or 460 would be the reversal zone. something like that anyway.

[Torque]

For the first time, short term poll shows bears and neutrals heavily outnumbering bulls by 2:1.

Contrarian indicator!  Time to buy! 

[fonzie]

Nice market buy@ Stamp

Ask side is non-existent. 3200BTC to 600$. At least volatility is back! 

[Nightowlace]

A lot of people here probably don't even trade and just hodl cold storage coins.

Probably the majority.

Some of are using Bitcoin as it was intended - as a way to secede from the USD.

When your income is delivered via btc, and your expenses can increasingly be paid directly in btc, you gain independence from fiat currencies.

Does a dip matter to traders? Maybe.

Does a dip matter to people with a steady income? Not really. Low prices just mean you can accumulate more coins.

Bitcoin's real value is independence - income independent of location, savings independent of imaginary lines on maps, financial autonomy.

Have I made some good trades absolutely. Have I made some bad trades, of course. I think you hit it on the head with this post. Days will go by when I don't even check the price. If it goes low enough buy more. When it goes to low does it concern me in the short term, yes it does. The fact is there is so much behind bitcoin, the technology, the investments, it's far from a Ponzi scheme, this isn't the end, etc etc. 

[BTCfan1]

nice little jump to 545, whales be shoppin' yo!

[jillkelly]

For the first time, short term poll shows bears and neutrals heavily outnumbering bulls by 2:1.

Contrarian indicator!  Time to buy! 

i don't think that necessarily means reversal RIGHT away.... more like when all the bulls have turned bear.

[Brewins]

nice little jump to 545, whales be shoppin' yo!

The green walls on Bitstamp are weak, you don't need much for such a move.

Still nothing impressive and that reveals any reversal tendencies yet.

[BTCfan1]

nice little jump to 545, whales be shoppin' yo!

The green walls on Bitstamp are weak, you don't need much for such a move.

Still nothing impressive and that reveals any reversal tendencies yet.

gotta try to focus on something to stay positive in these tough times

[fonzie]

2000BTC wall got added @ 600$ on Stamp.

[JayJuanGee]

Shorts closed for now, will set up new ones around 550-560$ No longs in between, i´m too scared that this could crumble any minute, lol.

YOU must be losing lots of money in recent times, the way you are trading...?

[fonsie]

last warning, buy now, you have been warned, don't be a fiat bagholder, we will go up in the next 24 hours, if not I'll make a new post indicating it's 48 hours, after 2 weeks I'll perhaps come say 800$ any moment now or 12 hours. I'll see, anyhow I told you so.

[Sandia]

550 then I will be long again.

Already shorted down, long to 546 (the first time) and short back down $10.  I am tired...but more money for coins.

[fonzie]

Shorts closed for now, will set up new ones around 550-560$ No longs in between, i´m too scared that this could crumble any minute, lol.

YOU must be losing lots of money in recent times, the way you are trading...?

I opened shorts@ 555$ closed them @ around 525-535$. Made up for my loss for not selling @ 580$. I´m okay with that for now. Bought back my Bitcoin @535, but have not went leveraged long. I´m going to sell and probably short(dependent to the circumstances if we should go up there) around 560-580$ again. That´s my plan for the next days. And you?

[mmitech]

Shorts closed for now, will set up new ones around 550-560$ No longs in between, i´m too scared that this could crumble any minute, lol.

YOU must be losing lots of money in recent times, the way you are trading...?

I opened shorts@ 555$ closed them @ around 525-535$. Made up for my loss for not selling @ 580$. I´m okay with that for now. Bought back my Bitcoin @535, but have not went leveraged long. I´m going to sell and probably short(dependent to the circumstances if we should go up there) around 560-580$ again. That´s my plan for the next days. And you?

he Hodl, I don't know why hodlers bother reading this subforum when it is mostly for traders, they get pissed and they start crying and attacking others and make a whole scene of drama, I change my sentiment about my trades many times a week, hell sometimes I change them even few times a day, therefore, I would suggest hodlers to go to reddit.com/r/bitcoin it is a better place for their mental health.

[Nightowlace]

Shorts closed for now, will set up new ones around 550-560$ No longs in between, i´m too scared that this could crumble any minute, lol.

YOU must be losing lots of money in recent times, the way you are trading...?

I opened shorts@ 555$ closed them @ around 525-535$. Made up for my loss for not selling @ 580$. I´m okay with that for now. Bought back my Bitcoin @535, but have not went leveraged long. I´m going to sell and probably short(dependent to the circumstances if we should go up there) around 560-580$ again. That´s my plan for the next days. And you?

I'm going to get some popcorn, sit back and watch the show. Should it go anywhere near $300s range I'm buying like crazy. But for now I'm a spectator.

[Nightowlace]

Shorts closed for now, will set up new ones around 550-560$ No longs in between, i´m too scared that this could crumble any minute, lol.

YOU must be losing lots of money in recent times, the way you are trading...?

I opened shorts@ 555$ closed them @ around 525-535$. Made up for my loss for not selling @ 580$. I´m okay with that for now. Bought back my Bitcoin @535, but have not went leveraged long. I´m going to sell and probably short(dependent to the circumstances if we should go up there) around 560-580$ again. That´s my plan for the next days. And you?

he Hodl, I don't know why hodlers bother reading this subforum when it is mostly for traders, they get pissed and they start crying and attacking others and make a whole scene of drama, I change my sentiment about my trades many times a week, hell sometimes I change them even few times a day, therefore, I would suggest hodlers to go to reddit.com/r/bitcoin it is a better place for their mental health.

Even though I'm a HODLer I like watching the drama and seeing the people argue back and forth