Wall Observer: BTC/USD Price Tracking and Discussion 2.0 (Unmoderated)

[deepcolderwallet]

Actually this is now the main fork, after the other two died dry. BitcoinNewsMagazine one was cool but people stopped posting there for no reason, Meuh sabotaged his own thread...

Elwar, good to see you around, have seen news from Latin America? Things are worst everyday, Maduro is playing a theater in Venezuela, possibly setting the right backstage to his so dreamed coupe d'état. Brasilian President Temer is likely to lose his presidential term due to many corruption accusations. His lawyers are using the same strategy last president used before being impeached. Sounds like desperation.

With so many countries on the brink of collapse I would not be surprised by that desperation leading to some sort of world war. That tends to be a nation's way of covering up their financial problems and pulling everyone together under some false sense of threat.

How do you see Bitcoin behaving in this WW scenario?

Millennials will refuse to fight! They are too self centered. Hmmm... maybe North Korea. But other countries would just nuke that one then go back to not fighting.

I agree and disagree.
Looks like although you're fluent in my native language (você fala português, não é?) you take for granted every millennial behaves like an USA-born millennial. I believe the distaste for corruption and poverty brought by many nations' politicians is in higher levels around the world than in USA. Our traditional example is Venezuela (last weeks events speak by themselves, or did you miss the helicopter sending grenades to the official buildings?). Also some politicians in Brasil and Argentina are facing justice problems for the first time in history, as corruption never sent anyone to jail here before. It can be explained mainly because millennials sharing what they think around social networks, message apps, etc are putting much more pressure in public opinion, working with the fact many old-school politicians are ignorant to how technologies work and how their obscure business are being traced. These two factors (public opinion favorable and easiness to investigate dumb corrupts) give strength to intel police and Justice to work.

But I agree that appealing to guns and slaughter may not even be among the options. Bitcoin is an example of how to change the status quo without appealing to war. This generation may be developing an abstract intelligence on solving old problems the previous did not.

[jbreher]

yawn. this weekend is pretty boring on the market. nothing is pumping on finex, everything is slowly drifting lower. its like watching paint dry

it is actually creating a technical indicator at the moment



to me looks like a bullish pennant

What would the four obvious configurations that they did not diagram be called?

[jbreher]

You'll probably snicker, but a while back I took some profits in bitcoin to buy some silver bars, and recently some gold coins. First gold and silver that I've owned that wasn't jewelry based. Somewhat pained me to do it though.

While I still hold most of my wealth in Bitcoin and still believe that it's the future of decentralized, deflationary currency/hedge against the debt-based fiat monetary system, I think it's prudent for everyone to own a little bit of PMs on the side as well for future insurance purposes. I see Bitcoin and PMs as complementary assets and not competing.

Diversification good. I've still not abandoned my pre-Bitcoin goldbuggish ways.

At the risk of setting r0ach off on another blathering 'worthless crypto' rant, I'll leave this rather interesting article here.

http://www.plata.com.mx/Mplata/articulos/articlesFilt.asp?fiidarticulo=312

Skip the intro pleasantries, and page down to 'Silver and the Great Future of Mexico'.

[JayJuanGee]

yawn. this weekend is pretty boring on the market. nothing is pumping on finex, everything is slowly drifting lower. its like watching paint dry

it is actually creating a technical indicator at the moment



to me looks like a bullish pennant

What would the four obvious configurations that they did not diagram be called?

Is this a trick question? 

Or can we just guess randomly and assign names to possible outcomes?

[jbreher]

yawn. this weekend is pretty boring on the market. nothing is pumping on finex, everything is slowly drifting lower. its like watching paint dry

it is actually creating a technical indicator at the moment



to me looks like a bullish pennant

What would the four obvious configurations that they did not diagram be called?

Is this a trick question? 

Or can we just guess randomly and assign names to possible outcomes?

No trick question. The obvious four others are where the exit is in the reverse direction of the entry.

Though I mostly posted to ensure I was flagged when new content appeared in this thread. So far superior to the other pretenders to the WO throne.

[JayJuanGee]

yawn. this weekend is pretty boring on the market. nothing is pumping on finex, everything is slowly drifting lower. its like watching paint dry

it is actually creating a technical indicator at the moment



to me looks like a bullish pennant

What would the four obvious configurations that they did not diagram be called?

Is this a trick question? 

Or can we just guess randomly and assign names to possible outcomes?

No trick question. The obvious four others are where the exit is in the reverse direction of the entry.

Though I mostly posted to ensure I was flagged when new content appeared in this thread. So far superior to the other pretenders to the WO throne.

It is not a bad thing to attempt to learn and to better understand the thinking of others when it comes to trading or understanding trading patterns... which will also assist us to make better attempts at predicting BTC's price direction - short or longer term.

The four posted market configurations assume that the trend is kind of your friend and you keep going with the trend - however, at the same time, at some point, there is going to be a longer frame reversal of the trend, whether that is short, medium or long term.

When you enter really long term, you might not want to get caught up on these shorter term price directions, especially if you consider the long term to be UP....

There are a lot of us, who would not mind scoring a few more bitcoin, if we had any kind of certainty regarding shorter term price directions... I certainly have difficulties making any big moves in anticipation of whether we are at the top bottom or middle of some kind of wave.

I continue to find it quite amazing that we seem to be experiencing a pretty long period of seemingly unprecedented plateauing of the price of bitcoin.. it's like we have six months of renewed ATH prices and any correction has kept us in the bull market and within fairly reasonable and easy striking distance of testing of a new ATH...

[steelboy]

The current month and a half long, as I see it, bullish pennant must surely be resolved soon. If there is a significant drop, (which I am not expecting by the way), at what price point, or time period would it be considered a valid sign for a reversal? Or do you need further confirmations after?

[BlindMayorBitcorn]

I don't look at charts. I can hardly even see. Was there a chart that predicted ICO mania and the run up to $2900 based to some extent on ETH hype?

[Torque]

Diversification good. I've still not abandoned my pre-Bitcoin goldbuggish ways.

At the risk of setting r0ach off on another blathering 'worthless crypto' rant, I'll leave this rather interesting article here.

http://www.plata.com.mx/Mplata/articulos/articlesFilt.asp?fiidarticulo=312

Skip the intro pleasantries, and page down to 'Silver and the Great Future of Mexico'.

Thanks for posting that, I'll take a look.  

Btw I'm sure you are aware, PMs are onsale! Not sure about gold but silver looks like it's hitting historical lows, perhaps starting to put in a bottom soon. Was watching the live silver chart last night and saw the massive spike down (margin call? capitulation?) to $14-ish and change.

Andrew Maguire rumors: https://twitter.com/andrewmaguire1/status/882613019041308674

Meanwhile, bitcoin still trending sideways within its pennant. Would need to breach below ~$2460 to break to the downside, so as long as we bounce upward from there it should stay within the triangle.

[jbreher]

Not sure about gold but silver looks like it's hitting historical lows,

I bought most of my silver at six bux and change. I'm happy to sit on it. Was a fun ride when it went up to $50. Felt like a bucking bronco at the time. Of course, Bitcoin is volatility of a different magnitude

Andrew Maguire rumors: https://twitter.com/andrewmaguire1/status/882613019041308674

Who's Andrew Maguire? (Sorry - just don't know). Also a little puzzled about his terminology of 'physically backed'. Sounds like another form of paper to me.

[jbreher]

I don't look at charts. I can hardly even see.

So the 'Blind' in your name is actually descriptive? I kinda always surmised it was akin to the Delta Blues Appellation Generator output. You know the one:
1) Pick an infirmity (e.g. Gimpy)
2) Pick a food (e.g. Pokechop)
3) Pick a dead president (e.g. Van Buren)
String 'em together, and that's your blues name - Gimpy Pokechop VanBuren

[Torque]

Who's Andrew Maguire? (Sorry - just don't know). Also a little puzzled about his terminology of 'physically backed'. Sounds like another form of paper to me.

https://en.wikipedia.org/wiki/Andrew_Maguire_(whistleblower)

Based on some supposed insider info that he received 26 days ago, he recently said that some big action in the metals market was going to go down this week.
https://www.youtube.com/watch?v=LZBoCBFWzK0

I guess we'll see if he's right or not. I don't have a bet either way.

 

[infofront]

[BlindMayorBitcorn]

I don't look at charts. I can hardly even see.

So the 'Blind' in your name is actually descriptive? I kinda always surmised it was akin to the Delta Blues Appellation Generator output. You know the one:
1) Pick an infirmity (e.g. Gimpy)
2) Pick a food (e.g. Pokechop)
3) Pick a dead president (e.g. Van Buren)
String 'em together, and that's your blues name - Gimpy Pokechop VanBuren

If I remember it was supposed to be a play on DreadPirateRoberts. But the 'blind' part was definitely a conscious blues appellation. I started out as BlindWillieCornstaff, which I actually prefer, in retrospect. But I believe that account was permabanned.

[Torque]

This non-farm jobs report is so bogus it's outright laughable:
http://www.businessinsider.com/jobs-report-nonfarm-payrolls-june-2017-7

Funny how many U.S. companies announced massive layoffs in the months of April, May and June (even Microsoft and Boeing), continuous job losses in the Retailpocalypse, restaurants, services, etc. Corporate profits are falling. Real estate is in a bubble. Commercial real estate is down. Housing starts and purchases are down. Rents are falling. State income is down, debt is rising. States are going bankrupt. And yet this overly positive report comes out just to prop up the markets even more.

I feel a massive loss of confidence in the markets coming very soon.

[Meuh6879]

Market purge un august (like 2015) ... and blood on streets on september.
Classic.

[BlindMayorBitcorn]

A sphincter says what.

What?

 

[chopcoin.io]

Well to me it appears we will consolidate some time more and start going up around 27 July when it becomes clear that the UASF fork is avoided by segwitx2 signalling.

[Meuh6879]

A sphincter says what. 

[Meuh6879]

Did you flush the toilet ?