Wall Observer Reloaded - Bitcoin price tracking & discussion

[BitcoinNewsMagazine]

Hoping to continue on in the spirit of the original Wall Observer thread. Not moderated. Up to the community if this thread succeeds or not.

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[leowonderful]

That was pretty much what caused the last thread to die, and there is already a wall observer thread that has replaced the old one with more people on it. Nice try though. If anything, new wall observer threads MUST be moderated.

[Iranus]

I definitely prefer this to the new self-moderated one, but the main reason that the old Wall Observer thread was locked seems to be the strain on moderators to remove a lot of off-topic posts in a thread which is not moderated properly by the OP.  I don't see it as likely that this thread will last long if we keep posting off-topic stuff on it.

Could always move it to off-topic if we need to, but I don't get why theymos is against this thread.  It's just kind of a free thread for any vaguely price-related discussion.  IMO moderation should just about skip this thread unless it's something specific (e.g. begging).

[JimboToronto]

That was pretty much what caused the last thread to die, and there is already a wall observer thread that has replaced the old one with more people on it. Nice try though. If anything, new wall observer threads MUST be moderated.

I agree. As long as Adam moderated his thread it flourished. It was when his account was hacked and then frozen that it started to go downhill and became such a pain to the forum moderators that they eventually chose to lock it.

I like the way Meuh seems to be handling his new wall observer thread.

I do prefer this thread's title though, except maybe it should mention BTC/USD.

I also think it's very important that any new wall observer thread should be in the speculation folder and not hidden away in the off-topic folder.

[Spaceman_Spiff]

Will the network effect of the other fork win out, or is this thread's title more appeasing? Stay Tuned !

[BitcoinNewsMagazine]

I made this thread non moderated because people were already complaining about the moderation at the new (redirected from old) Wall Observer thread. It lacks the spirit of the original thread. I think free speech is more important. After all if someone makes a post you do not like just add him or her to your ignore list.

[BitcoinNewsMagazine]

$2600 is the number to watch at Bitstamp. The following chart shows that price is close to breaking out the upper trend line of a triangle that has been forming.



Everyone has heard of the trouble Ether has had the past week. Note that the following chart shows that market share of Ether is declining lately, while Bitcoin share is on the rise.

[cmacwiz]

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[deepcolderwallet]

Hope this one flourishes.
A little moderation might be needed but not the way Meuh is doing, indiscriminately deleting on-topic posts like he did to me.

[bitserve]

And this is exactly why I fear so much Hard Forks in Bitcoin. Except in this case all these threads are forks that left the previous blockchain behind.

Let's see how this evolves and which one reflects better the spirit of the real WO.

[deepcolderwallet]

It's IMPOSSIBLE to stand with the other one.
Just because there had 90+ posts OP Meuh is already playing the Mad King.
I've got 6 deleted posts!!!
2 were on-topic. 3 were complaints about the 2 deleted and 1 I guess was fair because the meme did not fit the image size rules (although the size rules were only disclosed later).

[bitserve]

$2600 is the number to watch at Bitstamp. The following chart shows that price is close to breaking out the upper trend line of a triangle that has been forming.

I have a question. Why did you choose the 6h chart for drawing the triangle? I mean... with other timeframes the triangule and its levels changes a lot. Why do you chose 6h chart?

[BitcoinNewsMagazine]

$2600 is the number to watch at Bitstamp. The following chart shows that price is close to breaking out the upper trend line of a triangle that has been forming.

I have a question. Why did you choose the 6h chart for drawing the triangle? I mean... with other timeframes the triangule and its levels changes a lot. Why do you chose 6h chart?

Triangle is the same on other time frames. Here is the one day chart:

[bitserve]

Oh, thx, I guess I was doing something wrong.

So we could still have some sideways inside the triangule and even some downtrend up to 2400 without breaking it?

I wouldn't be surprised if that's what happen until the segwit2x issue is absolutely clear how it will go.

[deepcolderwallet]

Oh, thx, I guess I was doing something wrong.

So we could still have some sideways inside the triangule and even some downtrend up to 2400 without breaking it?

I wouldn't be surprised if that's what happen until the segwit2x issue is absolutely clear how it will go.

I agree and this looks to be exactly what's going on by now.

[BitcoinNewsMagazine]

Bitcoin price action loves to form triangles, we see it over and over again. If not for the uncertainty in the market due to Aug 1 I really think bitcoin  would be over $3300 now. The question is which way will price break out of that triangle: up or down? If I knew the answer I would be taking a position with leverage. But I don't of course, as does anyone. If price breaks up we will either have a fake out, or traders will likely bid the price up to a new all time high.

[yefi]

You can now vote on the future of Wall Observer here: https://bitcointalk.org/index.php?topic=1993570.0

[deepcolderwallet]

You can now vote on the future of Wall Observer here: https://bitcointalk.org/index.php?topic=1993570.0

Thank you!

[kurious]

You can now vote on the future of Wall Observer here: https://bitcointalk.org/index.php?topic=1993570.0

Seems the forks are the voting.

I agree on Meuh being heavy-handed, but I think no moderation at all gets us back to the post Adam era.

A light moderating hand is probably necessary to keep Theymos happy and leave us with no interference from TPTB.

I wish the old thread could have elected a new mod from within our ranks - fixed period tenure, no right to ban, post deletions justified publicly...

That would keep it 'ours', leave the heavy hand out and maintain the continuance of the most historic thread in crypto.

[bitserve]

You can now vote on the future of Wall Observer here: https://bitcointalk.org/index.php?topic=1993570.0

Seems the forks are the voting.

I agree on Meuh being heavy-handed, but I think no moderation at all gets us back to the post Adam era.

A light moderating hand is probably necessary to keep Theymos happy and leave us with no interference from TPTB.

I wish the old thread could have elected a new mod from within our ranks - fixed period tenure, no right to ban, post deletions justified publicly...

That would keep it 'ours', leave the heavy hand out and maintain the continuance of the most historic thread in crypto.

Some of the choices offered by Theymos could be somewhat similar to that you are saying. The option of using one of the existing forks is atm one of the less voted choices. For a reason.

And yes, maybe Meuh's thread will be a good one for STRICT ON TOPIC WALL OBSERVING... but that's not substitute for WO. That's something we need a solution for.

P.S.: Post deletions justified publicly is a no-no. That's completely disruptive of the thread, a lot of hassle, and ... well many reasons. The point is that deletion should only be done in such blatant cases that it would already be self-explanatory.

[kurious]

You can now vote on the future of Wall Observer here: https://bitcointalk.org/index.php?topic=1993570.0

Seems the forks are the voting.

I agree on Meuh being heavy-handed, but I think no moderation at all gets us back to the post Adam era.

A light moderating hand is probably necessary to keep Theymos happy and leave us with no interference from TPTB.

I wish the old thread could have elected a new mod from within our ranks - fixed period tenure, no right to ban, post deletions justified publicly...

That would keep it 'ours', leave the heavy hand out and maintain the continuance of the most historic thread in crypto.

Some of the choices offered by Theymos could be somewhat similar to that you are saying. The option of using one of the existing forks is atm one of the less voted choices. For a reason.

And yes, maybe Meuh's thread will be a good one for STRICT ON TOPIC WALL OBSERVING... but that's not substitute for WO. That's something we need a solution for.

P.S.: Post deletions justified publicly is a no-no. That's completely disruptive of the thread, a lot of hassle, and ... well many reasons. The point is that deletion should only be done in such blatant cases that it would already be self-explanatory.

I can accept this, I was thinking it works in the Monero thread - just an occasional tidy up summary in red.  But I grant you if it's as busy as it has been, it maybe messy. 

I just don't want an arbitrary power doing as it wishes and never justifying it, or allowing dissent, or complaint to be aired. Meuh's thread sucks if it stays as is - he just seems to want technical analysis - WO was never really just that!

[BitcoinNewsMagazine]

Market still neutral. Price is hugging the 50% Fibonacci retrace level. Volume is moderate, RSI neutral. Boring, but price is still above $2500.

[BitcoinNewsMagazine]

If bitcoin price starts advancing and takes out the ATH where to consider taking some profit? Fibonacci extensions have proven reliable time and over again. Bitcoin traders use the Fibonacci levels to set sell stops to lock in profit. Here are the extensions from the ATH to most recent swing low:



On the downside how low would bitcoin price decline if there were a sell off? Fibonacci retracements give guidance again and I expect many traders will be waiting to buy at the .382 retrace level or $1900:



It has been a while since bitcoin price has dropped a full 38.2% so $1900 is strong support. You can't rule out a 50% drop to $1566. Bitcoin has dropped 78.6% and recovered in the past.

[Iranus]

-snippity snip snip-

Market still neutral. Price is hugging the 50% Fibonacci retrace level. Volume is moderate, RSI neutral. Boring, but price is still above $2500.

Pretty great time for the Wall Observer thread to fork then.  Absolutely no interesting price movements whatsoever, so we don't need to get together.

I think it's foreshadowing for August 1st.  Trillions of different forks that do slightly different things, but no one actually cares about any of them and nothing interesting happens on them.
IMO potential SegWit activation in July-August is super bullish.  The messier it is, the less bullish it is.  Before that, we'll be moving kind of sideways because no one really gets what's going on.

[BitcoinNewsMagazine]

-snippity snip snip-

Market still neutral. Price is hugging the 50% Fibonacci retrace level. Volume is moderate, RSI neutral. Boring, but price is still above $2500.

Pretty great time for the Wall Observer thread to fork then.  Absolutely no interesting price movements whatsoever, so we don't need to get together.

I think it's foreshadowing for August 1st.  Trillions of different forks that do slightly different things, but no one actually cares about any of them and nothing interesting happens on them.
IMO potential SegWit activation in July-August is super bullish.  The messier it is, the less bullish it is.  Before that, we'll be moving kind of sideways because no one really gets what's going on.

Daily Ichimoku Cloud is still bullish but with a slight momentum shift to downside as conversion line is slightly below base line. No clear buy or sell signals, and looks like price may enter the Cloud soon agreeing with sideways or flat price action.

[BlindMayorBitcorn]

Fork your Wall Observer if you want fork

[deepcolderwallet]

P.S.: Post deletions justified publicly is a no-no. That's completely disruptive of the thread, a lot of hassle, and ... well many reasons. The point is that deletion should only be done in such blatant cases that it would already be self-explanatory.

Unless OP opens a thread specifically to explain deletions and bans. Or send PM to the person who got post deleted.

[kurious]

Theymos is asking for a list of who might want to take over the old WO thread:

If option 1 or 3 occur, who are the candidates for new listed owner / mods? Someone please compile a list.

Anyone interested?

[BitcoinNewsMagazine]

Good morning and happy July 1. We are still in neutral with a slight downward bias. Getting closer to the Cloud so I expect any surprises will be to the downside.

[kurious]

Fork your Wall Observer if you want fork

On the 'what to with WO' thread someone is trying to assemble a team of mods to keep the old thread running - step in if you want to register your willingness to help keep it going?

[BlindMayorBitcorn]

Fork your Wall Observer if you want fork

On the 'what to with WO' thread someone is trying to assemble a team of mods to keep the old thread running - step in if you want to register your willingness to help keep it going?

Ok, you can add my name too.

[kurious]

Fork your Wall Observer if you want fork

On the 'what to with WO' thread someone is trying to assemble a team of mods to keep the old thread running - step in if you want to register your willingness to help keep it going?

Ok, you can add my name too.

Great - I will put you forward.

[BitcoinNewsMagazine]

Good morning. Bitcoin price is still sitting on an important Fibonacci fan resistance line and close to entering the Ichimoku Cloud. RSI is neutral. Pretty much a boring weekend unless you are into alts which are getting hammered.

[eiskalt]

Alts got hammered, because people are afraid of a bitcoin downturn.

They will recover, if bitcoin continues its upward movement (which it most likely will, because of the rising Hash Rate).


Let there be Lite!!

[BitcoinNewsMagazine]

Bitcoin price is trading above $2500 again with RSI trending up. You can see on the 6 hour chart how price is bouncing off the 200 MA and flirting with the third Fibonacci fan. Waiting to see if price can advance past the critical $2600 level. The first Fibonacci fan hints at a drop to $2000 if the 200 MA does not hold.

[BitcoinNewsMagazine]

Good morning. Price found support at the Cloud and broke an upper trend line. Looking better but the conversion line (blue) has not crossed over the base line (red) yet. Buy signal would be both conversion line and price above the base line.