Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33456. (Read 26709845 times)

What are you all talking about ? There are 1000 coins sitting at $124 ... big deal ... and another 3000 to get there
Look at the order book ... there is no 'wall' ... there are a bunch of orders above and below current price that seem to balance quite nicely

Edit ... there are about 300 at $124 and about 800 at $123.9999 ...

It's not about the business being a good investment. It's about debasement of the currency.

Big "if", considering we didn't near touching 124, and yes, because that is the resistance of the current wedge. There was never the buy volume to break up to begin with.

Wedge is indeed nearing breaking point, but I think we break out downward if it breaks.

~ Something like:

If it did break $124, it would likely be a breakout. Otherwise it won't likely ever touch $124. Putting a sell order there is moot.

Continuation pattern...

Perhaps it's not the beginning of a breakout.....

i love this game selling  asks to people..   directly putting bids below it..     cash in    repeat

Away for 30 minutes and this happens  I wish I saw these dumps, how big were the biggest ones?

And another dump. This is all so pointless

Yup, that's what i was thinking.

I'm not saying any business is a good investment.

Until your customers can't afford your prices because their income has been devalued.

It doesn't make much sense, most of the orders won't get filled unless the wall is broken through, and why would anyone want to sell at the beginning of a breakout?

Actually you're explaining why the markets go up on speculation. I was talking intrinsically. Owning a business is owning income generation which is automatically hedged for inflation as the prices of produce increase with inflation.

I understand that quite well. I prefer to just call it inflation, soon to be hyperinflation if they keep doing what they are doing. They are printing 85 billion new dollars every month. The banks that receive this are investing some of those $$$ in the stock market. The Fed I believe has as much as said that they are involved in asset (stock market) allocation. People who have money in the bank, hurt by artificially low interest rates are also putting money in the stock market. So, we have a sideways to falling economy, decreasing productivity, very high unemployment rates, people working 2 or more jobs and often being completely overqualified for what they are doing = A rising stock market. I guess most folks believe CNN, FOX, etc.

Anyway, the thing that is keeping things going is that people believe in the money. Money is essentially faith, we are seeing that with BTC. Intriniscally it has value for a few reasons, most notably its cryptographic security imo. Once people stop believing in the dollar, once they can't keep printing dollars to make the stock market go up (e.g. - worsening economy, rates that need to rise) = POP goes the weasel.

My point with the 16,000 level in the DOW was that, that is around when their game ends, regardless of printing more money or not.

What would be the point of that wall at 124 exactly?

Devaluation of the Dollar is actually what drives the market up

Thanks, I didn't know about the European info (odd considering I'm in Germany).
I have heard from a few different sources (reliable with other stock market top calls) that the DOW will hit 16000 or so max and then POP goes the weasel. That will also coincide with a fall of the dollar.
Not saying I believe that, but I am watching for that...