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

[janos666]

Cool little bear trap  

Should be back at 2420 in 2 hours.

What if this is the end of a bulltrap?

[ChartBuddy]

Explanation

[NotLambchop]

^TY ChartBuddy

[Richy_T]

Where's Shroomsy? It's just not the same without some despondency...

[JayJuanGee]

Uhm. So, some people bought the whole 2400 CNY wall and minutes later the price is 2397 CNY. Hmm...
I thought price will shoot sharply either up or down after that wall disappears. But nothing happened yet. Strange.

Yup... somebody bought from themselves in an effort to trick the market. It happens from time to time. Points like that are particularly dangerous because people change directions a time or two on a trade. I, personally, need to learn to sit out at points like that. At least I'm starting to recognize what that pattern looks like. Progress!

Progress.. yeah right!!!   Who really knows what price is going to do when there are big whale manipulators that can change the direction of the price at any minute.

However, it does seem logical that BTC prices are NOT going to experience any major exponential growth until after the auction on December 4... however, even that big event is NOT any guarantee in how exactly it will affect BTC prices.

Surely, I do NOT claim to know anything about day trading.. but it does seem that we are soon going to be transitioning from a bear market to a bull market.

I never said anything to the contrary. In fact, I think I may actually be in full agreement with 100% of what you wrote except for the snark. Another part of progress -- setting narrow stop losses at pivot points... so that if I get the wrong direction at least it doesn't hurt much... if I get the right direction then I ride it.

O.k.  Maybe I was a bit snarky with my comment about progress?  Yet part of my point was meant to be that I would find it difficult to really play day trading in these kinds of markets when they seem to be manipulated so much... however, there may be strategies and tactics that smaller players can employ, such as what you are suggesting in order to perform better than merely my tactic of buying and holding and attempts at quasi-strategic dollar cost averaging.

[jonoiv]

Cool little bear trap  

Should be back at 2420 in 2 hours.

What if this is the end of a bulltrap?

Well I'm pretty confident it's not

IMHO It's a tiny insignificant bear trap.

[JimboToronto]

LOL

Go out to do some shopping, come back to see the price down by $10 after 3 days of steadily rising prices and the silly little bears are having a picnic again.



Better start posting those trainwreck and sinking ship pix. LOL

 

[Newbie1022]

https://cryptowat.ch/bitstamp/btcusd/1min/

This will help you track Bitstamp

[ShroomsKit]

I dont understand, why would he sell his coins like this? Market dump 1.2k then put up wall to keep it down? Doesn't make any sense

It's the same group of people who just keep dumping. Over and over and over again. Month after month.
Their daily task is making sure Bitcoin goes down. It's their job. If we go up they dump in full force and put up a few walls to scare away the new buyers.
And as you can see from the last 5 uptrends that got killed them their tactic works.

[p4n]

This will help to track them all at the same time

https://hypron.net/bitcoinwisdom/

[ShroomsKit]

Where's Shroomsy? It's just not the same without some despondency...

I'm here honey.

[Feri22]

Where's Shroomsy? It's just not the same without some despondency...

Fu*king traders, they are so big idiots. If it goes down 2 more dollars i will sell everything and never come back here. Grrrtttt  
Something like that you mean?  

Man i am soo not missing this guy's posts  

[JayJuanGee]

Uhm. So, some people bought the whole 2400 CNY wall and minutes later the price is 2397 CNY. Hmm...
I thought price will shoot sharply either up or down after that wall disappears. But nothing happened yet. Strange.

Yup... somebody bought from themselves in an effort to trick the market. It happens from time to time. Points like that are particularly dangerous because people change directions a time or two on a trade. I, personally, need to learn to sit out at points like that. At least I'm starting to recognize what that pattern looks like. Progress!

Progress.. yeah right!!!   Who really knows what price is going to do when there are big whale manipulators that can change the direction of the price at any minute.

However, it does seem logical that BTC prices are NOT going to experience any major exponential growth until after the auction on December 4... however, even that big event is NOT any guarantee in how exactly it will affect BTC prices.

Surely, I do NOT claim to know anything about day trading.. but it does seem that we are soon going to be transitioning from a bear market to a bull market.

That sir, is a very contradictory sentence. Lol.

Sir:  I do NOT understand what is contradictory about the bolded statement, unless you are assuming facts into the statement that are NOT currently present.

A person can bet on trends without engaging in day trading.  I consider day trading to be attempting to predict the short term direction of the market and to invest according to the prediction.  I generally just buy and hold and attempt to buy at low points and continue to hold; however, if my portfolio were in the black (rather than the red), then maybe my mindset would be somewhat different.  Nonetheless, I have a lot of difficulty imaging bitcoin going below $275 again.. and it seems to me that it is more likely to go up (especially after the December 4 auction); however, I really have no clue about how many coins that BTC bearwhale manipulators have left or how much they may be willing to dump, even at a loss in order to attempt to continue to manipulate prices downward... but I certainly have NOT plans to sell at this point and likely no plans to sell anywhere below $600... unless for sure I know that there is gonna be a temporary downturn and I can buy back in at a lower price.

[dreamspark]

I dont understand, why would he sell his coins like this? Market dump 1.2k then put up wall to keep it down? Doesn't make any sense

It's the same group of people who just keep dumping. Over and over and over again. Month after month.
Their daily task is making sure Bitcoin goes down. It's their job. If we go up they dump in full force and put up a few walls to scare away the new buyers.
And as you can see from the last 5 uptrends that got killed them their tactic works.

Where do these people you speak of get their coins from then? Gotta buy em at some point...

[Le Happy Merchant]

Posting on page 19

[coinmaster222]

To be honest hope it falls to $50 then I can buy 20 for a Grand,just mine them save them and in a year check the price.

[Newbie1022]

Uhm. So, some people bought the whole 2400 CNY wall and minutes later the price is 2397 CNY. Hmm...
I thought price will shoot sharply either up or down after that wall disappears. But nothing happened yet. Strange.

Yup... somebody bought from themselves in an effort to trick the market. It happens from time to time. Points like that are particularly dangerous because people change directions a time or two on a trade. I, personally, need to learn to sit out at points like that. At least I'm starting to recognize what that pattern looks like. Progress!

Progress.. yeah right!!!   Who really knows what price is going to do when there are big whale manipulators that can change the direction of the price at any minute.

However, it does seem logical that BTC prices are NOT going to experience any major exponential growth until after the auction on December 4... however, even that big event is NOT any guarantee in how exactly it will affect BTC prices.

Surely, I do NOT claim to know anything about day trading.. but it does seem that we are soon going to be transitioning from a bear market to a bull market.

I never said anything to the contrary. In fact, I think I may actually be in full agreement with 100% of what you wrote except for the snark. Another part of progress -- setting narrow stop losses at pivot points... so that if I get the wrong direction at least it doesn't hurt much... if I get the right direction then I ride it.

O.k.  Maybe I was a bit snarky with my comment about progress?  Yet part of my point was meant to be that I would find it difficult to really play day trading in these kinds of markets when they seem to be manipulated so much... however, there may be strategies and tactics that smaller players can employ, such as what you are suggesting in order to perform better than merely my tactic of buying and holding and attempts at quasi-strategic dollar cost averaging.

No hard feelings, man. Holding and averaging is actually a very good tactic especially when you consider slippage and exchange costs. Probably the best is somewhere between you and me -- hold strong, but if the market is really going nuts (a la the past couple months until recently), cut losses occasionally to buy in lower.

[N12]

I will leave this place soon. Bitcoin is dead, it's only down from here and i sold everything i got quite a while ago so there is nothing for me here anymore.
I tried to help the few delusional bulls who just won't give up but they don't appreciate my warnings very much. Ah well, your money. I don't care really.
I'll come back every 50 dollar drop for some entertainment. So long and thanks for buying my coins at 400. Poor schmucks.

Good luck with your pump and dump coin.

I feel sorry for all the idiots who sold at these ridiculous prices and i will laugh at all the bears who will get caught in trap after trap the coming weeks.

The only winners are the holders (like me) and the people who pick up the last cheap coins while they can.

We're going up and it's confirmed!

None at the moment. Not sure if i will buy back again.  I invest in other things now.

[JimboToronto]

Time to sell people.

Yep.

Sell right after a dump.

Then wait for the price to go up before buying back.

 

[NotLambchop]

Alright, Bitcoiners, thought I wouldn't notice you sneaking the price up?!
Stop your shenanigans immediately & take it back below 380

I'm going to count to three now

One...
Two...
Two-and-a-half...

THREE!

Edit: And stay off my lawn!