Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 13121. (Read 26720873 times)

Sorry for stupid question maybe..

Is any similar topic to this one about altcoins and their news?
I like this very active topic format (something similar even with chat) but sometimes want to discuss alts also

Do it.

Nuff Said.

Yes I was making good money on the run from $195 down to $165.   I have since blown about 5 tight stops in a row close to entry so I have stopped and am sitting on my hands. Still up overall but not easy money right now.  We are in the middle of the wedge so I don’t have any guidance as to whether we are going up or down.   I thought we were turning down again after $220 and we did for awhile but then we copped a bounce and are back at $220 now.

If we keep tracking sideways like this we are going to hit the cryptowinter support line in another month or so.

I expect we will rally first and then really collide with it in Dec / Jan which is where we should get the huge volatility. 

I become very comfortable when looking at the weekly and 3days charts. Assuming a move up out of the triangle of course. But why wouldn’t it (sellers suddenly willing to sell after 6 months of no-crash)?

I was off on a remote island for a week with no Internet. I come back to the WO thread and see talk about bcash?

It's trading less than .07 BTC now. That's less than bgold was trading after the value dropped.

How much discussion was there in this thread about bgold?

Let it go. They tried, it failed. Bring on the next big block size coin to get people excited about.

This is what I'm seeing...


The highs have come down in a reverse parabolic manner, much like the way it went up but the other way around..
The lows seem to be bottoming in a more linear fashion, with a slight downtrend which I don't like to see too much but it is what it is..

No mater, the trading channel continues to narrow and that I do like to see.. The channel will keep getting narrower and narrower and eventually BTC is going to have to break out of this channel if it maintains any volatility at all, unless we expect BTC to completely stop swinging, which I don't..

I think it will remain in this channel for a while, with the swings getting smaller, tightening up, to stay in the channel, until it just cannot take it anymore and breaks out..

which way will it break? I think it will break UP out of the channel but could break down.. I will be watching for the price to break out of this pattern in either direction and then I will be confident that exciting things are about to happen, for dump or for glory, something is gonna happen..

I don't think it is going to happen soon.. It seems to be forming itself to the pattern quite nicely, tightening up its swings, and hasn't felt too claustrophobic yet..


Another thing it really looks like to me is how we would mark Instantaneous Shut In Pressure, ISIP, in the oilfield..

I had to draw one..


Pretty much when your pumping 10,000 psi on a well which has a natural surface pressure of about 3,000 psi or so, when you stop pressure pumping all of a sudden the pressure drops and then bounces like this when the pressure finds it equilibrium..
The bounce tapers out like that in a slight downtrend and eventually flattens out to a steady pressure once it settles..


So like BTC was getting pumped at 20k psi, pumps stopped, it charts a textbook ISIP trace and finds its equalibrium, which thankfully for us seems to be around 6k, as apposed to 1k or whatever it could have been..

I for one am not too sad to see BTC in the 6k area, lol.. Pretty nice, it could be much worse.. = their is a lot of natural pressure in the well of users considering it was only in the hundreds before the pumping started, the fracks must have worked exposing the well of BTC to much more natural pressure (people) than their was previously..

Fracking pretty much exposes the well to more surface area in the target formation, where their is pressure..
In this case the target formation is the eyes and wallets of the general public, so the big pump on BTC has broken it's awareness out to a bunch more surface area of the general public and investors, where their is buy pressure, and now that it is better exposed their is more natural pressure from the exposure, and we are having bottoms in the 5k-6k range rather than the 300-400 range we started at.. 

A Brief History of Bitcoin Bear Markets
https://medium.com/mosaic-network-blog/a-brief-history-of-bitcoin-bear-markets-1eeac2d646e5

LOL Maybe we should all talk about Bitcoin Gold. 

Who still cares about BCH. That is so 2017

Don't even understand why to discuss BCH in serious context here..

Here's one of your deft rhetorical tricks.
You see, it's not about how much BTC or BCH some guys have. It's more about the BTC/BCH ratio. Or the history behind.

edit: Kingcolex wasn't tricked, either. He beat me to it.

They are not leaders, so much as fellow travelers.

They each likely own several times the BTC that you own as well. Does this mean you are going to abandon BTC?

Didn't think so.

Some consistency, please.

At 14:1 we're nearing the ratio where I made my biggest conversion. If it drops much further, I may have to think about it. I need to make a deeper analysis of the November fifteen probabilities before jumping.

via Imgflip Meme Generator

I don't much give a damnn what Bitmain, Roger, and Craig do.* For my part, BCH has the properties that made bitcoin great to begin with. Scaling in a logical fashion, and free of the Segwit virus. From my perspective, it is simply technically better than BTC. Hopefully, the world will awaken to this.

* Well, I hope they keep mining it. Though, the DAA allows for drops in hashpower to be relative non events.**

** Unlike BTC, which lacks this safeguard.

More of us here than I thought  

Then again, depends on when you got your BTC, for example, 2013,2014,2015..still not too shabby considering in 2017 BTC was $1,000.00 Jan 2017!

So if the bubble CAN be discounted...as just that a bubble...perhaps stuff will just plod along upward in a more reasonable manner, price wise. (a guy can hope anyway HODL)

or as they say, in a previous post, 'we retraced the whole bubble' downward to where we are now, (Fall 2017)

(we will see I guess, differs a lot by your time perspective and when you got in on all this)

brad