Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18220. (Read 26611159 times)

Elwar sodl his house for BTC.

He only rents in Germany while working on the Future Soldier System before he will build his anarchist island paradise outside Bermuda.

He even has his own Bitcoin based competitor to Kickstarter, mainly aimed at realizing anarchist projects. Bitpools.com

Yeah, he's a bit nutty, but we like him and he knows his Bitcoin.

For your info, Elwar is not just "some dude who rents," he is a regular participant and contributor to this thread.  And in any event, who gives a ratt's ass whether someone rents or otherwise, such current or historical renting status doesn't really matter to any kind of lame denigration that you seem to be attempting.

Cool, some dude who rents just gave advice.

From what I read on r/Bitcoinmarketa they still need approval

Thank you

Shitty though it is, there'll be plenty of info about it on Coindesk. There's also dedicated ETF news places like this - http://www.etf.com/channels/bitcoin

And r/bitcoinmarkets keeps a close eye on ETF progress. They discuss it a lot in the daily discussion and its progress is linked to in the calendar on the right.

I can't find anything on the interweb about the etf. Where are you finding this info?

Thanks

Tantalizingly close to a 100% retrace of the Finex dump in the Chinese markets now. Retardo-whale who sold down to 575 can send forth a big, blue cry.

They did so because Bitcoin-related??

This is my understanding too. The rule change green lights the ETF as an exchange-traded note. They don't need any other form of approval from the SEC to get listed.

DB seems to not be in the headlines overhere currently.

Thank you Elwar for these observations. Perhaps we can monitor the output of the safe box makers as the potential Weimar II happening.

Maybe I am a bit too pessimistic, but I expect a further stalling kind of delay with the ETF.

I believe that an approval would cause a price rise, yet a disapproval would probably have little to no significant effect on price, except possibly a very short term opportunity for dumping that would not sustain any price drop.

No idea really. I don't watch the German news because I don't speak German. I avoid the US news because it's depressing.

I do know that my landlord started pulling some money out of the bank and holds more cash than he used to. And he's very open to taking bitcoins for rent. He's actually the perfect Bitcoin user. I pay him bitcoins in rent and he's a pilot for Lufthansa so he flies to other countries a lot. He goes to the US and uses Gyft to buy gift cards for just about everywhere he goes. Mainly Home Depot, Target, Whole Foods and some restaurants. He loves it. He used to use his PayPal credit card that charged him a huge exchange fee whenever he used it in the US.

Deutsche Bank canceled my account with them so they can crash and burn for all I care.

Yes indeed. Thanks for reminding me about the possible fake Chinese volume b.t.w. (and the poster above). I'd forgotten about all those games that get played. Despite, I do think the last 18 month's trading looks reasonably genuine when taken as a whole. The recovery from $200 onwards has been fairly cautious IMO.

I cannot really disagree with your overall discussion and the various conclusions that you arrive at from such discussion, yet I am a bit nonplussed when it comes to incorporating Chinese volume in any kind of meaningful volume discussion.

Sure there could be some meaning attributed to Chinese volume, yet we really gotta take chinese volume with a considerable grain of salt.

I appreciate your discussion of various technicals because sometimes the technicals can lend some insight that may not otherwise be recognized - and sure according to OP there is supposed to be some level of evidence bases in our discussion, here - yet I don't really assert to have any significant training or even deep understanding of some of the technicals (maybe I am a bit of a non-believer, or at least a technical skeptic?)

So, yeah, a month of increased volume would be a very good occurrence - yet I am recalling that we did not even achieve such sustained timeline volume increase in the pump from mid-$400s to upper $700s - that pump went up on relatively low volume and even a kind of nonsustained volume.

On the other hand, the volume of the pump from lower $200s to $500 and then the battle that resulted in a kind of $360 to $460 channel, lasted for a bit more than 20 weeks.  Recall that we had fairly high level sustained volume for about 20 weeks from late August 2015 to late December 2015.

Sure, history does not exactly repeat itself, but it surely can have a kind of rhyming, and I kind of get the sense that sustainable volume (such as a 20 week period) demonstrates a kind of passion and battle for where the price is going to go, and once we get through such battle, then we arrive at a kind of more stable place for a period of time thereafter (during the subsequent consolidation period).

I think that another one of these battles is likely to come, and I kind of have the sense that we could be soon ready for such another longer sustained battle that includes a more extended period of time of relatively higher volume levels.  A month would be a good start, but even shorter periods of relatively higher volume can at least feel good to help to recognize that there is a bit of passion (and potential disagreement) at whatever is the then current price level.. 





ditto regarding my own bullish tendency... and my own inclination to believe that there are upwards price pressures that are going to play out in reality, at some point.  On the other hand, I remain very trigger shy when it comes to making any kind of short-term prediction - except maybe to assert something like this: 

"In the past 12 hours, we have witnessed approximately a 4% upwards price movement, and we have slightly moved outside of our 2 month channel of $550 to $630.  Even though we are witnessing relatively low volume that could cause a downwards correction, I have the sense that price pressures remain upwards, and we are a bit more likely to experience an additional 5% upwards rather than a 10% downwards.  I place these odds at about 55/45." 

Hahahahahaha... you recognize my reserved bullish tepidness?

we dont know if its fake volume so it doesnt matter,

bitfinex/bitstamp/btc-e volume matters

Hobular 1-day volume highest on record since May so far (and it isn't finished).

We need to get to 5180 to light touchpaper.

Wots wrong with stamp ? Even BTCe's at 638.

I hate to be practical, and ruin any kind of fantasy.. but here I go....

Many of us should recognize that we get very little idea about the level of resistance based on how many coins are up for sale on the exchanges... Sure, those walls from $636 to $1,400 can be a bit of an indication what folks are doing - but we are not really going to know how many coins are going to go up for sale until as the price movement process unravels.. whether it goes quickly or slowly and on what level of volume pushes such movements.

Surely, I would like to see $1,400 in the near future, and a lot of us probably realize that such price movement is quite possible from some whale(s) holding quite a bit of fiat on the exchanges (and relatively, it would not really take that much to achieve $1,400), but we also should recognize that the bull whales seem to have a kind of tendency to be a whole hell-of-a lot more timid than bear whales when it comes to pumping and even pumping on a long enough time horizon that will sustain any such pumped up price.. and also to allow for sufficient support so that we do not come back to from where we started.

Probably many of us will be quite satisfied with getting up to and potentially through the likely underlying resistances in the upper $600s and the upper $700 before getting our hopes up too high about $1,400-ish... and really, $1,400-ish is not really a thing...  Once we get passed the resistances on the lower level, $1,400 would probably turn out to be a kind of blip on the screen. and least the first pass through that price point.