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

[dreamspark]

With all this big bear flags... I'm sorry but I can't be bullish about bitcoin price in the short/mid term. It is probably going to retest lower levels again.
Right now there is more downside potential than upside, unless an ETF hits the market.

I disagree that it has more downside than upside potential. I see a drop of $100 from here as a small chance of happening but $100 rise could happen at any point. However if your constantly watching charts and are ready to make a move when the market does then you can easily limit risks on both scenarios.

[Feri22]

What the fu*k is going on with you BTC? You need to go to the moon ASAP, i am tired of all these stupid bears and shit

[Totscha]

What the fu*k is going on with you BTC? You need to go to the moon ASAP, i am tired of all these stupid bears and shit

Deposit a dozen or so milllion $ on an exchange and start buying like there'll be no tomorrow.
Repeat until news hits CNN, FOX, etc...

Instant CCMF!

Don't have the $$$? Sit and wait then.

[Miz4r]

What the fu*k is going on with you BTC? You need to go to the moon ASAP, i am tired of all these stupid bears and shit

Just take a break, this forum is infested with trolls these days. BTC will do what it does, it will crush all the hopes and dreams of get rich quick bulls first and then it will do the same to the overconfident bears and trolls who are sure Bitcoin will be in a downward spiral forever. Zoom out, relax and grab yourself a beer or two and enjoy the ride.

[BitAddict]

With all this big bear flags... I'm sorry but I can't be bullish about bitcoin price in the short/mid term. It is probably going to retest lower levels again.
Right now there is more downside potential than upside, unless an ETF hits the market.

I disagree that it has more downside than upside potential. I see a drop of $100 from here as a small chance of happening but $100 rise could happen at any point. However if your constantly watching charts and are ready to make a move when the market does then you can easily limit risks on both scenarios.

We just had something huge like Microsoft accepting bitcoin and all what happened is a $27 pump (Only $13 remaining at the moment). I don't think another $100 pump is easy at all.

This is just showing us how weak bitcoin price is right now.

Of course I will gladly go long if it starts rising with strength, but IMO that's really unlikely.

[ChartBuddy]

Explanation

[billyjoeallen]

I don't think restesting lower levels is going to happen really fast, it could take some months of slow bleeding until entering the final panic dumping with a flash crash.
Exactly as it started back in August, but slower and with smaller percentage down, as pump and dumps are slowing down.

I'm also concerned that soon after the PayPal announcement we had a huge crash.
All I know is that we've done our job achieving price stability for now. Now is the time to adjust buy/sell orders.  

[ChartBuddy]

Explanation

[aztecminer]

^
Mate, you're delusional.  This is all obvious stuff that's known to every 13yr-old, and the local lunatic fringe chooses to ignore 'coz it don't jive with their "I's techno vizhunary & guna b rich!" fantasies.

@inca:  I posted data regarding the way things are now.  Get back to me in 5 years, then we'll talk.

bitcoin is a developing technology .. don't let that thought hurt your brain as you think about it. meditate on it and you might grow some new grey matter .

[coinableS]

We just had something huge like Microsoft accepting bitcoin and all what happened is a $27 pump (Only $13 remaining at the moment). I don't think another $100 pump is easy at all.

This is just showing us how weak bitcoin price is right now.

This is the wide spread mentality right now. Bitcoin tends to launch when you least expect it.

[aztecminer]

dumps on Microsoft news, seems so bizarre-o world to me.

Accept the fact that Bitcoin is a purely speculative commodity, and you'll understand. 

maybe newegg should accept gold and silver as payment ..
or maybe they should accept government bonds as payment.
or maybe they should start accepting derivatives and equities as payment.
imo i think your definition of bitcoin is slightly flawed.
it appears to me bitcoin is more than just a speculative commodity.

[aztecminer]

...
By that logic if newegg, overstock, and dell stopped accepting BTC it'd be great cause now people can't spend their BTC so we go to moon  ...

Most people who "invest" in BTC don't do it to shop at Dell & NewEgg.
They might want to believe that others buy BTC to shop at Dell & NewEgg, but they themselves don't.
Because after the novelty of buying with BTC wears off, the sheer stupidity of it begins to sink in.  Imagine:

1. Spend fiat to buy BTC
2. Send BTC to a payment processor, who
  2a. Sells your BTC for fiat &
  2b. Sends fiat to the merchant that "accepts BTC".
3. Re-buy BTC you spent, probably from the same payment processor but at a premium, because "investment."

Funny as hell, doubt it happens too much tho.  Now for someone with a BTC stash from way back...  Nah, that would only create sell pressure, so won't happen

you have no vision. only thing u can see is what is right before you right now.

[NotLambchop]

dumps on Microsoft news, seems so bizarre-o world to me.

Accept the fact that Bitcoin is a purely speculative commodity, and you'll understand. 

maybe newegg should accept gold and silver as payment ..
or maybe they should accept government bonds as payment.
or maybe they should start accepting derivatives and equities as payment.
imo i think your definition of bitcoin is slightly flawed.
it appears to me bitcoin is more than just a speculative commodity.

1. Not sure why you feel newegg should accept gold and silver (largely speculative commodities), or the rest of the stuff you (sarcastically?) listed.
2. I have not given you my definition of Bitcoin.
3. For traders, and all practical purposes, Bitcoin is a purely speculative commodity.

Good morning, gentlemens.

[NotLambchop]

...
you have no vision. only thing u can see is what is right before you right now.

My vision is fine.  Yours, OTOH, is clouded by unbridled greed and, likely, substandard recreational neurochemicals.

[BitAddict]

We just had something huge like Microsoft accepting bitcoin and all what happened is a $27 pump (Only $13 remaining at the moment). I don't think another $100 pump is easy at all.

This is just showing us how weak bitcoin price is right now.

This is the wide spread mentality right now. Bitcoin tends to launch when you least expect it.

It is quite the opposite, almost everyone is waiting another big pump because of Microsoft news. All of those who bought in that last rally to get rich fast will start to dump all their coins if we don't have a big pump soon.

[grappa_barricata]

Added long vs short ratio charts for 1h/6h/12h/24h to BFXdata.com
Hope you'll find them useful

Hey bjorn, i use your site every day and it is extremely useful to me. Thanks man.

[bad trader]

I don`t understand this dump, what are your theories men, an uptrend breakdown?

Only if the shiny line of magic breaks.

The market seems to like the shiny line of magic.

[NotLambchop]

...
I disagree that it has more downside than upside potential. I see a drop of $100 from here as a small chance of happening but $100 rise could happen at any point...

You're right, but why use $100 in your example?  Try this:
I see a drop of $400 from here as a small chance of happening impossible because math, but $400 rise could happen at any point.
Much more convincing because irrefutable

[ChartBuddy]

Explanation

[inca]

With all this big bear flags... I'm sorry but I can't be bullish about bitcoin price in the short/mid term. It is probably going to retest lower levels again.
Right now there is more downside potential than upside, unless an ETF hits the market.

I disagree that it has more downside than upside potential. I see a drop of $100 from here as a small chance of happening but $100 rise could happen at any point. However if your constantly watching charts and are ready to make a move when the market does then you can easily limit risks on both scenarios.

We just had something huge like Microsoft accepting bitcoin and all what happened is a $27 pump (Only $13 remaining at the moment). I don't think another $100 pump is easy at all.

This is just showing us how weak bitcoin price is right now.

Of course I will gladly go long if it starts rising with strength, but IMO that's really unlikely.

The price was manipulated more than 100 dollars higher last month because a suspected 3bn hedge fund was rumoured to be using one of the exchanges to trade so your point is clearly wrong.

Until a US exchange opens with decent depth this thin market volatility will continue. But ultimately demand will overrun even a few forex jokers with twenty thousand coins colluding the price up and down at will.