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

[tarmi]

Not sure you can say that, the same formation happened before and was followed by more down.
Also, the circumstances were different than what they are now...

12h chart. Look at the sell volume. Not exactly a high-volume selloff. Bears are almost out of ammo.

we had a steady low volume decline since 600 levels.

I am not buying that out of ammo story. nobody is.

[JayJuanGee]

JayJuanGee,

If I post several long paragraphs explaining why possibility does not imply even slight probability, would it have any impact on your analysis about anything?

No, but you'll get x5 paragraphs back, each one longer than yours.

Profit

Or if you direct the message to NOT Notporkchops, you will get some stupid ass cartoon that is only quasi-relevant making fun of you.  Go figure.   

[JayJuanGee]

JayJuanGee,

If I post several long paragraphs explaining why possibility does not imply even slight probability, would it have any impact on your analysis about anything?

No, but you'll get x5 paragraphs back, each one longer than yours.

Profit

And all of them will focus on one nitpicked line from everything you typed.

And, for those readers who are challenged, like Octaft, they will have difficulties holding their thoughts on one idea for more than one sentence at a time.

[JorgeStolfi]

Trolls like to make comments like "How will you look your family in the eyes when you have to tell them you lost all our money when Bitcoin crashed."

Well, it is a good question, isn't it?  How will you? 

You should definitely think about it before putting all your savings into bitcoin.  It is the wise investors, not the trolls, who say "don't invest what you cannot afford to lose."

They don't want that type of comment applied to them. "How will you look your family in the eyes and tell them you knew about Bitcoins when they were worth under $1000, now that they are worth $100k. We could have been set for life, and not left with all this worthless fiat".

I have let pass countless opportunities when I could have multiplied our money by 10x, yet still have no problem looking my family in the eyes.  Perhaps because there were also many "opportunities" when I could have lost it all, and there was no way to tell which was which beforehand. I could have bought WorldCom or OGX shares a year after the IPO and sold them at the top.  Or could have bought them a coupl of years later, and been unable to sell before they crashed to zero.

[JayJuanGee]

...
Yup.  Pure, unchecked animal greed  Idiots hoping to make millions and getting owned by their betters.  In teh unregulated free market they themselves championed.

Yeah.  Dig yourself further into your stupid-ass simplistic view of the world and view of the motives of bitcoiners.  Surely there may be a few people who fit that description of motives; however, it is NOT as wide-spread and common as you are asserting such greed motives to be.

>Because people buy, hold, and speculate in Bitcoin (this thread) to save kittens.

 

People participate in this thread and other threads in order to read and post about various ideas related to bitcoin.... NOT the whole community of bitcoin investors participate in these kinds of threads.  Additionally there is a lot of variation to the extent that people are informed about their investments and/or their investment strategies... .In other words, those investment strategies do NOT necessarily boil down to "greed," and as I have asserted the prevalence of "greed" is a much smaller factor than you are making it out to be... and much smaller of a factor than you are harping upon with your ongoing attempts to spread FUD.

[bassclef]

Not sure you can say that, the same formation happened before and was followed by more down.
Also, the circumstances were different than what they are now...

12h chart. Look at the sell volume. Not exactly a high-volume selloff. Bears are almost out of ammo.

we had a steady low volume decline since 600 levels.

I am not buying that out of ammo story. nobody is.

I am, and I tripled my coin stash thanks to volume analysis during the big drop from 600s. The big dumps, which were higher volume and obviously from a single entity if you watched the tape, was somebody selling a shitload of coins and traders following. They are not here anymore and haven't been since the BTC30,000 wall.

Look I'm not saying it is going to rocket up tomorrow, these markets surprise me again and again. Just saying we are in a longer term reversal pattern where the trend has a higher probability of reversing, and it's pretty risky to be short right now.

[Boxman90]

Sometimes I wonder how you guys come up with this shit.

[NotLambchop]

...
Yup.  Pure, unchecked animal greed  Idiots hoping to make millions and getting owned by their betters.  In teh unregulated free market they themselves championed.

Yeah.  Dig yourself further into your stupid-ass simplistic view of the world and view of the motives of bitcoiners.  Surely there may be a few people who fit that description of motives; however, it is NOT as wide-spread and common as you are asserting such greed motives to be.

>Because people buy, hold, and speculate in Bitcoin (this thread) to save kittens.

 

People participate in this thread and other threads in order to read and post about various ideas related to bitcoin.... NOT the whole community of bitcoin investors participate in these kinds of threads...

My posts are about, and aimed at, the people in this thread.
Those not "participating" in this thread don't get to see them, thus are spared the butthurt.
It all works out, JayJuanGee, it all works out

[bassclef]

TA 101

1) spot trend, follow it until it shows signs of reversal
2) learn what reversal patterns are, how they relate to market psychology, where they occurred historically in these markets, and how to recognize them and their variations
3) have enough self-respect and confidence in your position that you don't have to troll threads talking your book
4) profit

[JayJuanGee]

...
Yup.  Pure, unchecked animal greed  Idiots hoping to make millions and getting owned by their betters.  In teh unregulated free market they themselves championed.

Yeah.  Dig yourself further into your stupid-ass simplistic view of the world and view of the motives of bitcoiners.  Surely there may be a few people who fit that description of motives; however, it is NOT as wide-spread and common as you are asserting such greed motives to be.

>Because people buy, hold, and speculate in Bitcoin (this thread) to save kittens.

 

People participate in this thread and other threads in order to read and post about various ideas related to bitcoin.... NOT the whole community of bitcoin investors participate in these kinds of threads...

My posts are about, and aimed at, the people in this thread.
Those not "participating" in this thread don't get to see them, thus are spared the butthurt.
It all works out, JayJuanGee, it all works out

Accordingly, I will take that as a concession of sorts, that you are merely calling participants of this thread greedy, and NOT all bitcoiners.  Therefore, we have made a little bit of progress with your thinking, even though there seems to be a long way to go... and really, I do NOT put it passed you to continue to attempt to engage in further inaccurate claims..

[ChartBuddy]

Explanation

[NotLambchop]

While you were making progress, so has Bitcoin.  Look!  A daily low!

[WeGotCactus]

https://i.imgur.com/EmGhuCP.png

Not sure you can say that, the same formation happened before and was followed by more down.
Also, the circumstances were different than what they are now...


http://i59.tinypic.com/vh6wc2.png

Volume reaction was stronger this time around, FWIW.

[NotLambchop]

...
Volume reaction was stronger this time around, FWIW.

[abercrombie]

[fonzie]

 

Not bad

[NotLambchop]

^What he said

TA 101

1) spot trend, follow it until it shows signs of reversal
2) learn what reversal patterns are, how they relate to market psychology, where they occurred historically in these markets, and how to recognize them and their variations
3) have enough self-respect and confidence in your position that you don't have to troll threads talking your book
4) profit

Could you tell us just how much coin you're holding?  Numbers make the whole thing so much funnier...

[esse83]

TA 101

1) spot trend, follow it until it shows signs of reversal
2) learn what reversal patterns are, how they relate to market psychology, where they occurred historically in these markets, and how to recognize them and their variations
3) have enough self-respect and confidence in your position that you don't have to troll threads talking your book
4) profit

All valid and good points (in general), but in the case of bitcoin all the data is suspect because of a certain frenchy named Mark Karpeles. So the only rational decision is to get out and let price return back to reality based on supply and demand. If I might give an estimate about where the price will be in january I would say 1xx. And I believe it will continue down in 2015 - all the way to a level that is supported by Silk Road. As most (except bulltards) knows, there is no reason for consumers to buy bitcoin to purchase anything besides that. Please refute me.. Have a good wednesday.

[Wandererfromthenorth]

CHINA LEADING THE CHARGE AND CONSISTENTLY MAKING NEW LOWS!

OKCOIN IS LEADER! AND CHINESE SAY DOOOOOOWN!

[tarmi]

Not sure you can say that, the same formation happened before and was followed by more down.
Also, the circumstances were different than what they are now...

12h chart. Look at the sell volume. Not exactly a high-volume selloff. Bears are almost out of ammo.

we had a steady low volume decline since 600 levels.

I am not buying that out of ammo story. nobody is.

I am, and I tripled my coin stash thanks to volume analysis during the big drop from 600s. The big dumps, which were higher volume and obviously from a single entity if you watched the tape, was somebody selling a shitload of coins and traders following. They are not here anymore and haven't been since the BTC30,000 wall.

Look I'm not saying it is going to rocket up tomorrow, these markets surprise me again and again. Just saying we are in a longer term reversal pattern where the trend has a higher probability of reversing, and it's pretty risky to be short right now.

I am doing my best to triple my $ stash.

I will give you a call once we hit the real bottom, because I sincerely doubt that someone is so dumb to just sell 30 k coins and then leave the table.