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

[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

[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.

I'm just going to quote my own post until we hit 800$.

[N12]

I can't even distinguish between fonzie and fonsie anymore.

[Brewins]

Yay, back to 550 again.

For real or just a trap?

[vuduchyld]

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.

I totally agree that most speculators/semi-holders/traders/whatever in here are mostly opportunistic.  I do think it's interesting that so many people let the price influence THEIR perception of value.  It is probably due to the lack of traditional fundamental underpinnings such as earnings or assets that one sees in other trading markets.  

I'd even agree that we didn't get any kind of panic-selling capitulation this morning.  Not nearly enough fear or volume, IMHO.  

Maybe I'm just not so in-tune with the mindset of the BTC opportunists.  Or maybe there is a (probably false) distinction in my brain between 1) profit-taking and 2) selling at a loss to buy back cheaper.  I could see the latter more easily than the former.