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

[NotLambchop]

...
Could be because we're the new elite, gentlemen.

Possibly...

[marcus_of_augustus]

Hypothetically if somebody offered you guys 5000 USD per BTC that you own (and you had to sign an agreement saying you wouldn't buy any more, that's it, your participation in BTC is over) would you take it right now?

make it 500k and we might think about it

[JayJuanGee]

it really amazes me that even with the microsoft announcement, the price has remained where it is. what the heck is holding it down?

A better question:  what the heck was propping it up until now?

Mugs like us?

Can you honestly say you kept buying all the way to $1200?  I'm guessing it was something different from us.
@macsga: Dementia-related agitation and paranoia are treatable.  Seek help.

JJG bought at 1200... then again at 660. Some people are brilliant at calling bubble tops... they just call it the wrong way.

When you are describing the circumstances of others, get your facts straight newbie.

[macsga]

it really amazes me that even with the microsoft announcement, the price has remained where it is. what the heck is holding it down?

A better question:  what the heck was propping it up until now?

Mugs like us?

Can you honestly say you kept buying all the way to $1200?  I'm guessing it was something different from us.
@macsga: Dementia-related agitation and paranoia are treatable.  Seek help.

JJG bought at 1200... then again at 660. Some people are brilliant at calling bubble tops... they just call it the wrong way.

When you are describing the circumstances of others, get your facts straight newbie.

Dementia agitation treatment didn't work in your case troll... You fool no one here that you're a school boy. Not even yourself. Then you decided to try heavier stuff. Don't you know benzodiazepines are turning you into a moron? Not that you weren't entitled as one anyway; but you know... you're constantly making it worse!

Doods! PRETTY please don't quote LambCrap's comments. There's a reason most people have him on ignore.
Thanks.

[Bagatell]

Doods! PRETTY please don't quote LambCrap's comments. There's a reason most people have him on ignore.
Thanks.

 

[janos666]

The is a bearish divergence in 1h MACD, and 4h MACD is still negative, while its divergence may flip to red soon.
A triangle is going to break soon, but there is a bit of upward momentum, so I'm not sure. But the next 6h are locally critical.

I am still expecting a >=10$ positive spike before any massive dump (short-stop-hunting, bulltrap, whatyacallit/ever).
Both 4h and 1d MACD are undecided in my opinion. The 1d S-RSI is heading up from ~0, 4h S-RSI is halfway down already during low volume/drop.

What massive dump? I don't think with the good news these days, there will be a dump soon.

* ... assuming (in theory) a massive dump is coming. It doesn't mean I personally expect one. I certainly wouldn't bet on it at the moment (I even closed my 2 days old short position today at a very small profit margin because of what I wrote above: I expect a tiny pump before anything else might happens). Although I think it's possible. Things looked pretty bad (that last before-MS dump had a potential to develop into a real slaughter) when the Microsoft news came into play. We are yet to see how much it matters right now.

[ChartBuddy]

Explanation

[NotLambchop]

it really amazes me that even with the microsoft announcement, the price has remained where it is. what the heck is holding it down?

A better question:  what the heck was propping it up until now?

Mugs like us?

Can you honestly say you kept buying all the way to $1200?  I'm guessing it was something different from us.
@macsga: Dementia-related agitation and paranoia are treatable.  Seek help.

JJG bought at 1200... then again at 660. Some people are brilliant at calling bubble tops... they just call it the wrong way.

When you are describing the circumstances of others, get your facts straight newbie.

Dementia agitation treatment didn't work in your case troll... You fool no one here that you're a school boy. Not even yourself. ...

School boy?  What will you think of next, you lovable old coot!
When I think of some heartless, unscrupulous rogue conning you weak-minded seniors into BTCeanies Bitcoin!
Ooohhh, just makes my blood boil!

[macsga]

I'd define it as "too good to be true" in my long Wishlist but here it goes anyway:

5 Big Signs The Global Engine of Deceit, Lies, and Control Are Coming To End



http://themindunleashed.org/2013/09/5-big-signs-global-engine-of-deceit.html

[NotLambchop]

5 Big Signs The Global Engine of Deceit, Lies, and Control Are Coming To End

[macsga]

WTF! Too many "This user is currently ignored." messages.  

[aminorex]

Hypothetically if somebody offered you guys 5000 USD per BTC that you own (and you had to sign an agreement saying you wouldn't buy any more, that's it, your participation in BTC is over) would you take it right now?

Absolutely.  There are better crypto than BTC, and they are fully exchangable.  By the time BTC is ubiquitous, exclusive use of a superior crypto will be viable.  I would, however, much prefer my bribe money in gold.

[aminorex]

https://www.cryptocoinsnews.com/more-than-4400-bitpay-merchants-keep-bitcoins/

10% of bitpay merchants do not convert to fiat.

I have a feeling that number will increase substantially in 2015.

AKA 90% of Bitpay merchants do convert to fiat. See how much worse it sounds when framed in that manner.

It doesn't matter how it sounds.  What matters is the actual ratio of stock to flow.

[Omikifuse]

Hypothetically if somebody offered you guys 5000 USD per BTC that you own (and you had to sign an agreement saying you wouldn't buy any more, that's it, your participation in BTC is over) would you take it right now?

No.

Not that I believe bitcoin will skyrocket any time soon, but it is anyway a way to earn money(signature program, etc,,,) and a place to put some of my money outside the grips of the State. I would prefer not close the BTC option

[macsga]

Hypothetically if somebody offered you guys 5000 USD per BTC that you own (and you had to sign an agreement saying you wouldn't buy any more, that's it, your participation in BTC is over) would you take it right now?

No. I doubt if I ever sell the bastards. 

[oda.krell]

The market is really fascinating, right now. The Microsoft news broke the bear rally that was looking to get out of hand. However, the Microsoft counter-rally up to $360 was so weak tipping the bulls hand that they have run out of ammo. Yet, many are unwilling to sell en masse on this realization because the Microsoft news signals potential for greater adoption and, hence, is speculatively significant even if, in the short-term, the net effect is actually people using existing coins and unloading bags.

The new money just isn't there right now for it to rise and the bulls have shot their load or dropped out completely. But, people feel like BTC is on firmer speculative footing than it was a week ago. Something that might have more speculative value but has nobody crazy enough to speculate on it anymore. Now, one thought is... that's the perfect time to buy -- I understand that sentiment. But, on the other hand, the real value is the community/network effects and they've already been burnt too many times or had too much of their wealth cut from under them. It's weird. A reason for BTC to live while it is in the midst of taking its last breaths.

I think you have to short until the bulls show they have any fight left in them. Do so with a narrow stop, though, in case a big player enters the market and sees an opportunity.

Great summary. Story of pretty much the entire second half of 2014, maybe even continuing into 2015 (though I see it as a positive indication that overall volume is going up again).

[inca]

The market is really fascinating, right now. The Microsoft news broke the bear rally that was looking to get out of hand. However, the Microsoft counter-rally up to $360 was so weak tipping the bulls hand that they have run out of ammo. Yet, many are unwilling to sell en masse on this realization because the Microsoft news signals potential for greater adoption and, hence, is speculatively significant even if, in the short-term, the net effect is actually people using existing coins and unloading bags.

The new money just isn't there right now for it to rise and the bulls have shot their load or dropped out completely. But, people feel like BTC is on firmer speculative footing than it was a week ago. Something that might have more speculative value but has nobody crazy enough to speculate on it anymore. Now, one thought is... that's the perfect time to buy -- I understand that sentiment. But, on the other hand, the real value is the community/network effects and they've already been burnt too many times or had too much of their wealth cut from under them. It's weird. A reason for BTC to live while it is in the midst of taking its last breaths.

I think you have to short until the bulls show they have any fight left in them. Do so with a narrow stop, though, in case a big player enters the market and sees an opportunity.

Great summary. Story of pretty much the entire second half of 2014, maybe even continuing into 2015 (though I see it as a positive indication that overall volume is going up again).

I think it is a fair summary. Everything except shorting with a narrow stop. Otherwise known as losing money

[ChartBuddy]

Explanation

[oda.krell]

The market is really fascinating, right now. The Microsoft news broke the bear rally that was looking to get out of hand. However, the Microsoft counter-rally up to $360 was so weak tipping the bulls hand that they have run out of ammo. Yet, many are unwilling to sell en masse on this realization because the Microsoft news signals potential for greater adoption and, hence, is speculatively significant even if, in the short-term, the net effect is actually people using existing coins and unloading bags.

The new money just isn't there right now for it to rise and the bulls have shot their load or dropped out completely. But, people feel like BTC is on firmer speculative footing than it was a week ago. Something that might have more speculative value but has nobody crazy enough to speculate on it anymore. Now, one thought is... that's the perfect time to buy -- I understand that sentiment. But, on the other hand, the real value is the community/network effects and they've already been burnt too many times or had too much of their wealth cut from under them. It's weird. A reason for BTC to live while it is in the midst of taking its last breaths.

I think you have to short until the bulls show they have any fight left in them. Do so with a narrow stop, though, in case a big player enters the market and sees an opportunity.

Great summary. Story of pretty much the entire second half of 2014, maybe even continuing into 2015 (though I see it as a positive indication that overall volume is going up again).

I think it is a fair summary. Everything except shorting with a narrow stop. Otherwise known as losing money

Oh, I just meant the bolded parts, about an unwillingness of the market to go in either direction.

How to trade this stagnant situation is a different beast altogether.

[jonoiv]

https://www.cryptocoinsnews.com/more-than-4400-bitpay-merchants-keep-bitcoins/

10% of bitpay merchants do not convert to fiat.

I have a feeling that number will increase substantially in 2015.

AKA 90% of Bitpay merchants do convert to fiat. See how much worse it sounds when framed in that manner.

Clearly you didn't bother reading it before commenting 

50% convert to Fiat

40% keep some bitcoin and some converted

10% keep pure bitcoin