Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28364.

billyjoeallen

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Hide your women

Quote from: TERA on April 08, 2014, 09:28:39 PM

Quote from: aminorex on April 08, 2014, 09:23:22 PM

Quote from: TERA on April 08, 2014, 09:18:31 PM

Also, a price supported by entirely by holding and not by buyers is very weak - it is unusable by merchants due to the lack of liquidity. It is in effect a ponzi scheme.

You should be ashamed of yourself for being involved. What would your mother think? Go away.

I have a history of trading ponzi schemes actually, and then getting out just in time before they collapse. It all started when I was 18 years old and I partipated in a ponzi called "12 daily pro", turning $5,000 into $15,000 in a few weeks. Of course the members insisted that it was not a ponzi at the time. It was.. "the future of advertising and multi level marketing" bla bla.

LOL. You're the Green Lumber Trader. http://nassimtaleb.org/2012/08/nassim-talebs-green-lumber-problem/#.U0SxlVdWhEM

chessnut

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Quote from: TERA on April 08, 2014, 09:25:47 PM

No way. 600 is blocked by about 5 different resistances in the 1D, 3D, and 1W charts, and is also blocked by that diagonal line at 540. I don't know what makes you think there would suddenly be a surge to 600 from 455 based on a low volume breakout on daily charts. The breakout from 570 to 700 was backed by a reversal day with 120,000BTC of volume.

nobody expected the last one either..... and sorry, your TA is only a small edge, that I dont agree with. the market can very easily move $150 in a day. This is reversal territory, and the fundamentals are pushing up. bears can only pray that Huobi shuts down and quick.

chessnut

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Quote from: TERA on April 08, 2014, 09:18:31 PM

You don't really have proof of how many people are 'hodling' and how many are dedicated to holding and aren't just waiting for their chance to get out.

they have had their chance.... they have had 3 months.

billyjoeallen

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Hide your women

Quote from: windjc on April 08, 2014, 08:54:28 PM

Quote from: TERA on April 08, 2014, 08:39:07 PM

Little breakout on daily possibly starting, going to 530 max if longs are lucky but probably more like 500. After that, downtrend resumes and eventually 400 is broken.

Well at this point if it goes up it is only going up because enough traders like you are looking at the daily MACD and saying "we'll it should go up now". So yes I guess if one of you places a big market order and everyone starts chasing the signal the are waiting for then we could squeeze to 500.

But I expect a rally to be much less than what everyone is expecting. Because there is so little money buying now organically.

It just doesn't seem to be worth the risk. If you're looking around the poker table and you can't spot the sucker, then you are the sucker. I think the bulls are likely exhausted. I know I am. I plan to go down defending $400 or get left behind if the defense isn't needed.

TERA

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Activity: 728

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Quote from: aminorex on April 08, 2014, 09:23:22 PM

Quote from: TERA on April 08, 2014, 09:18:31 PM

Also, a price supported by entirely by holding and not by buyers is very weak - it is unusable by merchants due to the lack of liquidity. It is in effect a ponzi scheme.

You should be ashamed of yourself for being involved. What would your mother think? Go away.

I have a history of trading ponzi schemes actually, and then getting out just in time before they collapse. It all started when I was 18 years old and I partipated in a ponzi called "12 daily pro", turning $5,000 into $15,000 in a few weeks. Of course the members insisted that it was not a ponzi at the time. It was.. "the future of advertising and multi level marketing" bla bla.

TERA

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Quote from: chessnut on April 08, 2014, 09:23:03 PM

this is how it was on the night before 700 on stamp. the market can so easily surprise. if this bounces off 400, that's a strong bull signal and could go to 600 easily.

No way. 600 is blocked by about 5 different resistances in the 1D, 3D, and 1W charts, and is also blocked by that diagonal line at 540. I don't know what makes you think there would suddenly be a surge to 600 from 455 based on a low volume breakout on daily charts. The breakout from 570 to 700 was backed by a reversal day with 120,000BTC of volume.

aminorex

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Sine secretum non libertas

Quote from: TERA on April 08, 2014, 09:18:31 PM

Also, a price supported by entirely by holding and not by buyers is very weak - it is unusable by merchants due to the lack of liquidity. It is in effect a ponzi scheme.

You should be ashamed of yourself for being involved. What would your mother think? Go away.

chessnut

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this is how it was on the night before 700 on stamp. the market can so easily surprise. if this bounces off 400, that's a strong bull signal and could go to 600 easily.

arepo

sr. member

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this statement is false

http://www.superpoop.com/042409/i-paid-money.jpg

TERA

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Quote from: adamstgBit on April 08, 2014, 09:14:19 PM

Quote from: TERA on April 08, 2014, 09:07:16 PM

Also note there are no 1,500BTC bid walls accumulating coins this time.

no one is interested in the 500BTC wall on btc-e tho.

volume is low because we accumulated so many god damn hodlers invested for the future.

don't expect them to all panic sell at once because china banned bitcoin 5 times in april.

http://www.youtube.com/watch?v=NG1qooBzE2w&feature=share&list=PL3C264C70646796C4&index=4

You don't really have proof of how many people are 'hodling' and how many are dedicated to holding and aren't just waiting for their chance to get out.

Also, a price supported by entirely by holding and not by buyers is very weak - it is unusable by merchants due to the lack of liquidity. It is in effect a ponzi scheme.

adamstgBit

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Quote from: TERA on April 08, 2014, 09:07:16 PM

Also note there are no 1,500BTC bid walls accumulating coins this time.

no one is interested in the 500BTC wall on btc-e tho.

volume is low because we accumulated so many god damn hodlers invested for the future.

don't expect them to all panic sell at once because china banned bitcoin 5 times in april.

http://www.youtube.com/watch?v=NG1qooBzE2w&feature=share&list=PL3C264C70646796C4&index=4

TERA

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Also note there are no 1,500BTC bid walls accumulating coins this time.

jonoiv

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🐺Dogs for President🐺

Quote from: adamstgBit on April 08, 2014, 08:59:10 PM

the low volume highly volatility range trading may now begin.

here it comes. China, making the first move

chessnut

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every time the market gets a risk off opportunity it rallies up. the fundamental forces are ripening. the price is not happy where it is now, it wants to be higher. each tragic news item has less and less effect on the market. we are now approximately at the low caused by the first news item (465). since then, even the worst news cant hold this market down for more than a couple of days.
This coming rally will likely be sustained and supported.

TERA

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One reason why the breakout would be weak is because is because it has a very small base beneath it in terms of price appreciation and volume, especially volume. There was only 40K volume done on the day that the bottom was formed, which is nothing for a reversal day. I was surprised it even bottomed there and didn't keep going down.

ChartBuddy

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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

adamstgBit

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Trusted Bitcoiner

the low volume highly volatility range trading may now begin.

windjc

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Quote from: TERA on April 08, 2014, 08:39:07 PM

Little breakout on daily possibly starting, going to 530 max if longs are lucky but probably more like 500. After that, downtrend resumes and eventually 400 is broken.

Well at this point if it goes up it is only going up because enough traders like you are looking at the daily MACD and saying "we'll it should go up now". So yes I guess if one of you places a big market order and everyone starts chasing the signal the are waiting for then we could squeeze to 500.

But I expect a rally to be much less than what everyone is expecting. Because there is so little money buying now organically.

JayJuanGee

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Self-Custody is a right. Say no to"Non-custodial"

Quote from: billyjoeallen on April 08, 2014, 07:32:39 PM

Quote from: JayJuanGee on April 08, 2014, 07:19:10 PM

Quote from: aminorex on April 08, 2014, 07:03:55 PM

The miners decide what the rules are. Increasingly, that means ghash.io, discus fish, eligius, and btcguild. Biggest threat to bitcoin today.

Instead of the word "threat," you must really mean biggest "vulnerability"?

If the miners were to be infiltrated, then could destroy bitcoin, and I suppose there could be some miner-related battles in the future and attempts to figure out what is "good for" bitcoin.

I don't see any way to destroy Bitcoin that wouldn't hurt the destroyer even worse. It would take $20 billion to ensure it could be done and any failed attempt would make it more difficult to try again. You could really hurt it for much less, but not kill it and it would come back stronger. Even if you did kill it, another crypto would replace it almost immediately. You can't kill a protocol. The laws of economics are immune to legislative fiat.

This is one of the best points that you have made in weeks!!!!! Grin

Maybe you have snapped out of your quasi-delirium state?

I'm just kidding.. .but I thank you for that point b/c I was thinking that there was something that I was missing.. and in the above post, you outlined the situation really well.

I will take back any negative thought that I almost had that involved you. Cheesy

TERA

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Little breakout on daily possibly starting, going to 530 max if longs are lucky but probably more like 500. After that, downtrend resumes and eventually 400 is broken.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28364. (Read 26609430 times)