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

[Wekkel]

Meanwhile, we finally seem to get a nice correction into $6,3xx. That gives the ordinary trader some room to start buying again.

[JayJuanGee]

Meanwhile, we finally seem to get a nice correction into $6,3xx. That gives the ordinary trader some room to start buying again.

You are likely correct that "ordinary traders" are beginning to hit some of their buy orders - and ultimately depends upon how BIG of a swing that such "ordinary" traders are trading.   

Personally, I have been finding it helpful to have small increments between buys, but larger increments between swings, so it sometimes it can take a bit longer for the swing to trigger.. Currently, we are at nearly 6% from the top that was nearly $6,800 to our current price that is getting into the upper $6,300s. 

Of course ETH and BCH seems to be correcting hardr, but each of them started out with BIGGER pumps, too, so could be a question about whether this correction is possibly aimed at weeding from those areas or if there is more ability to give in those areas - which could drag BTC down too. 

Sometimes the correlation is not clear, and it could be possible that BCH pumps some more while BTC is going down, and I suppose those kinds of irrationalities are frustrating about the short term movements that seem to be lacking in logic, somewhat... because it remains difficult to determine momentum that one coin or another might have to continue to go, perhaps in the opposite direction of the others for a bit of time?

[elrippos friend]

Giddy Up!



https://old.reddit.com/r/Bitcoin/comments/9kukux/its_not_rocket_science_series/

So we see the next ATH in 2022 

[JayJuanGee]

Yeeaaaahhh, Monero rising 

Good comedy screwed up with alt coin pumping.  Shame on you, elrippos friend!!!!!   

Dear JayJuanGee, go fcuk yourself 

Shame on you, elrippos friend.

Failure and refusal to acknowledge, admit or feel bad about your off-topic shit coin pumping behavior. 

[Elwar]

This year I'll be carrying a portion my winter budget to Vietnam in Bitcoin.  Already found a money changer (gold shop) to exchange with.  I'll still need to go through Fincen at the airport because of the cash so I'll ask them directly how they treat crypto.  Not intending on declaring any however. 
 

I've been to Vietnam "carrying" over $1 million in bitcoin. No questions asked. They have a bitcoin ATM at a pizza place. You just grab a pizza while you wait for your transaction to go through and get your dong.

[criptix]

This year I'll be carrying a portion my winter budget to Vietnam in Bitcoin.  Already found a money changer (gold shop) to exchange with.  I'll still need to go through Fincen at the airport because of the cash so I'll ask them directly how they treat crypto.  Not intending on declaring any however. 
 

I've been to Vietnam "carrying" over $1 million in bitcoin. No questions asked. They have a bitcoin ATM at a pizza place. You just grab a pizza while you wait for your transaction to go through and get your dong.

Lol

Feeling like living in the middleage here in europe 

[Globb0]

they certainly wouldn't appreciate you getting your dong out in a European restaurant. 

[LFC_Bitcoin]

Giddy Up!



https://old.reddit.com/r/Bitcoin/comments/9kukux/its_not_rocket_science_series/

‘Down $150 so that must mean we’re going to mid $4,000’s & I’ll manipulate a chart to show what I want to happen’


Great analysis bruh!

[StartupAnalyst]

[BTCMILLIONAIRE]

The fractal says a low of $3,800 in January 2019 but let’s wait and see.  It won’t be an exact match and lots of whales will be aggressively trying to chop up the market.

Fractals are quite subjective - maybe even moreso than other forms of TA.

https://medium.com/@coinobs/bitcoin-fractal-the-bullish-scenario-37f5dae1384f

Thanks for that link, infofront.

I was a bit embarrassed to ask what the fuck a "fractal" was.  hahahahahaha... but apparently, fractals are convincing phenomena in the eyes of some folk.  

They appear all over the place in nature, so it would not be surprising at all if they matched financial markets as well. The thing in finance and trading however is, that people just draw random charts without even understanding the Mathematics behind their favourite indicator and then end up spewing something of equal value as a horoscope.


P.S. Look fractals up in detail though. The non-finance fractals are a gorgeous (if visually represented) and mind-bending structure.

[kurious]

they certainly wouldn't appreciate you getting your dong out in a European restaurant. 

You beat me to it.   I am not sure it works too far way from our little part of the world, but you brightened my day.

[HairyMaclairy]

Do people like these sentiment updates or are they dumb?

[vroom]

Do people like these sentiment updates or are they dumb?

I like these sentiment updates, we need these rare on-topic posts

[Globb0]

Its all little bits of information that goes together to make the bigger picture.

Its all just speculation after all,

[El duderino_]

they certainly wouldn't appreciate you getting your dong out in a European restaurant. 

You beat me to it.   I am not sure it works too far way from our little part of the world, but you brightened my day.

mmmm the high class and standard of european resto's ..... even the cheap resto's in europe are already supreme @many places

[El duderino_]

Do people like these sentiment updates or are they dumb?

we do like them just like bob's REKT updates , and where just waiting when fear turns into that green zone .... keep posting them from time to time 

[El duderino_]

[Last of the V8s]

Do people like these sentiment updates or are they dumb?

pointless and much too big. pl try to match text size to forum text size
your charts are great for size though. bigger the better for those

[El duderino_]

There is almost no scenario in which the price would go straight up, for example to a new ATH within a day or even within a week.  I'm not even sure whether an ETF approval would cause that, or some kind of news that some country has made bitcoin it's official currency.  Perhaps, but I have real doubts about such sudden exponential movement without any correction.

On the other hand, it is not likely, but we could get 100% or 200% within a week.. or we could get a kind of gradual UP and then, BAM, a sudden 100% to 200% UP within a week.  Is that what you mean by one of these days, moon?

Is moon past the previous ATH or is it some other number?

Where is "moon" exactly?

if ((amount of btc * btc price) > target net worth) then MOON

O.k.  Fair enough that moon is a number that would be somewhat individually tailored  - and sometimes, members might need to disclose where that point is for themselves, and sometimes just thinking about "where is moon" can be a psychological well-being point.

Part of the reason that I frequently express so much content, even though we are still bouncing around in a 66.6666% correction arena, is that I had considered $3k to $5k to have been the top of the 2017-2018-ish bubble - meaning the next bubble that was coming after the 2013 ATH of $1,163.  Accordingly, thereafter I had expected the top to have been in the $3-$5k range and then a correction into the $1k to $3k range.  Therefore, it seems to me that there is still a lot of icing on this particular cake, and it kind of already seems, to me, that a variation of moon has already arrived.

All of what I am saying does not mean that I am bearish or that there is froth  in this market, but a peak that goes to $19,666 remains in the approximately 5x area higher than expected and the correction back to $6k-ish remains in an area of about 5x higher than expected - and even with all of that 5x higher than expected, there seems to be plenty of upside potential, still.... because bitcoin continues to be in a very low adoption level - even with a lot of peeps coming into bitcoin, the numbers still remain trickles in comparison to the world population and in comparison to what is possible based on the ongoing good news in bitcoin, in terms of developments and the seeming solidity of the tech (and computing power for that matter - including bitcoin's continued winning of various infighting).

Sure there remains a question about whether alts are coming with on the next journey up, and so that could be the $1,000,000 question about how long any kind of continued correction goes on further or just drags out longer.... let's see, let's see... So even if we are at a kind of moon..., "When next moon?" might be more poignant of a question, perhaps?

As much as I want it to be different, a new moon will take a lot of time to materialise. The grind up to 20k will be long and hard, with tons of resistance levels established by previous run-up. Once we pass 20k, price discovery starts again and we are in uncharted waters.
Right JJG, I share your sentiment about btc adoption and also did not expect previous top to be this much of an overshoot. I'd caution everyone to be rather conservative in setting any sort of timeline for a next run, my experience has learned me this is always further away than one expects, especially after such a massive year for crypto that we had.
Still BTC and perhaps some other alts are terrific buys at this level from a long term perspective thats why I am hodling and accumulating, just as all you smart and fine gents in this thread 

[Last of the V8s]

As much as I want it to be different, a new moon will take a lot of time to materialise. The grind up to 20k will be long and hard, with tons of resistance levels established by previous run-up. Once we pass 20k, price discovery starts again and we are in uncharted waters.
Right JJG, I share your sentiment about btc adoption and also did not expect previous top to be this much of an overshoot. I'd caution everyone to be rather conservative in setting any sort of timeline for a next run, my experience has learned me this is always further away than one expects, especially after such a massive year for crypto that we had.
Still BTC and perhaps some other alts are terrific buys at this level from a long term perspective thats why I am hodling and accumulating, just as all you smart and fine gents in this thread 

wtaf, mic, you learned to english? or is it someone else?
anyway my experience has learned me my experience has taught me