Wall Observer

[JayJuanGee]

Heh. Oh well. It's another 10 hours until I start hedging.

Are you going to carry out your hedge all at once or in increments?

Hedging a chunk of BTC seems kind of arbitrary in my thinking... and I am only selling in real small amounts as the price goes up, and not in respect to any doom and gloom scenario or the opposite...., yet in these current market conditions it seems that selling increments would be a bit safer than just removing some big chunk of BTC into some alt (which ones? hm?).

In my thinking, currently BTC seems on the precipice to rise somewhere into the the lower $600s at minimum... and possibly into the upper $700s or higher in the coming weeks. Many of the alts seem like a shake of the dice - but if you have some decent knowledge from watching them, you may be able to play such a move wisely (though scary for me)

 

[hedgewizard]

I found that this article suits my bullishness very much. Interesting data therein

https://ark-invest.com/research/bitcoin-new-asset-class

alternative summary

http://bravenewcoin.com/news/bitcoin-exhibits-all-the-characteristics-of-a-unique-and-important-asset-class/

 

[8up]

What do you guys expect next?

 

[Bagatell]

@8up

Looks like I'll get stopped out soon in which case next support I see is at 0.020 and 0.015 below that.

 

[Richy_T]

Are you going to carry out your hedge all at once or in increments?

Hedging a chunk of BTC seems kind of arbitrary in my thinking... and I am only selling in real small amounts as the price goes up, and not in respect to any doom and gloom scenario or the opposite...., yet in these current market conditions it seems that selling increments would be a bit safer than just removing some big chunk of BTC into some alt (which ones? hm?).

In my thinking, currently BTC seems on the precipice to rise somewhere into the the lower $600s at minimum... and possibly into the upper $700s or higher in the coming weeks. Many of the alts seem like a shake of the dice - but if you have some decent knowledge from watching them, you may be able to play such a move wisely (though scary for me)

Probably all at once. I am currently totally un-hedged (barring some trivial dabbling) and I do believe that doom-and-gloom at the halving is a very realistic scenario. Long-term, I think Bitcoin will be alright but there's a decent chance that Bitcoin will take a big hit and alts will rally so a good opportunity to buy back in.

Worst case, Bitcoin rallies at the halving and I don't gain quite as much value as I would have. As to which alts? That's a good question. I don't think eth is off the table yet but I'll probably pick two-or-three. Since it is likely to be Bitcoin that is driving things, it probably doesn't matter a huge amount but those with name recognition stand to benefit the most short-term.

I should decide soon though. We are now less than 30 days to halving at standard block production rates (and less at the elevated rates we've been seeing)

To be honest, I'm not keen to do it. I was a big believer in the halving rally until the events of the past year or so. I may only hedge half of what I was planning to. But I need to work with logic, not emotions.

 

[Bagatell]

I may only hedge half of what I was planning to.

If you acquire alts on the same % of emission that you hold Bitcoin, two or three shouldn't cost you much.

 

[JimboToronto]

That 580 was a tough old bird, eh?

ftfy

 

[Zangelbert Bingledack]

Old psych resistance at $600+ is breaking. This is like when we broke out past $20 in early 2013 with vigor, eyeing the all-time high of $32, which would ultimately be a pit stop to $266 and finally $1250 or whatever it was.

If all goes well, next stop: $1000 and then gold oz. price and bitcoin ATH, then...BOOM!

 

[Erdogan]

That's more like it... we need some rocket pictures.

 

[above1000]

so we boost into 600 i am seeing this stable stuck/ like how we stuck at 580 now we stick in the
low 600-s stable? until the next boost ?? can we make it into the 700-s and into the 1000 mark is what every one is waiting for
1)) this is pre halving hype / and the halving itself will boost us up up and away ?
2)) its china doing its thing ?
3)) some one mentioned UK Britin-s currency becoming unstable which could lead to high BTC prices ?
4)) some one is controlling the market via willy bot ?
5)) were is willy bot when we need him ? willy bot could lead to a rapid high BTC prices
we are seeing these rapid boosts then stability on the next leg up
i have no problem with this concept as long as it slow-lee but shore-lee climbs up and out
we need the halving because that looks like the trigger for the catalyst to 1000 or unknown moon
i think it could keep going up because when you see quick moves up like that its a good thing
peace

 

[rebuilder]

ftfy

Funny how physical these price movements seem - pressure seems to be a fitting analogy.

So the devil's resistance next?

 

[Erdogan]

Determined wall at 635 on finex, stamp is already over. Looking forward to see how this elephant is eaten, piecemal (Mao style) or all at once.
[doublepost=1465726364][/doublepost]The elephant ran away with three feet left.
[doublepost=1465726471][/doublepost]Spread between huobi (usd) and finex now 20 usd.
[doublepost=1465726593][/doublepost]

Funny how physical these price movements seem - pressure seems to be a fitting analogy.

So the devil's resistance next?

The devil has left the building. I can feel the jesus walking by my side,
[doublepost=1465726984,1465726233][/doublepost]640 on stamp. What is wrong with 650?

 

[Zangelbert Bingledack]

Exponential slope so far in this rally is in line with early 2013. (Price doubles about every 5 weeks.)

Perhaps, as with $50 in 2013, once we take out $2000 we will never see prices below that again.

 

[Zangelbert Bingledack]

Even more optimistic chart, suggesting quintuple digits are well within reason this year.

 

[Bagatell]

It seems the resistance at -1.4 has been broken.

Price to break the +1.87 all-time-high 14693.72

+2 is $16770
[doublepost=1465736769,1465735724][/doublepost]

 

[above1000]

650 baby come on

http://www.zerohedge.com/news/2016-06-11/bitcoin-spikes-above-600-2-year-highs-sudden-massive-chinese-buying

 

[Richy_T]

Well, that's nice to wake up to. Happily, I punted on the hedging yesterday.

 

[Eris]

Well, that's nice to wake up to. Happily, I punted on the hedging yesterday.

If you're going to hedge you might as well do it at these levels. I can imagine a decent correction here to keep the price graph symmetrical.

 

[Erdogan]

640 on stamp. What is wrong with 650?

Nothing, apparently, not with 650, not 660 and not 670 either.

 

[rebuilder]

We're now about as high as we've been in the last two years. Incidentally, this price is where the bounce off the crash down from 1200 failed to get any higher and sent us into a multi-year slump. Interesting times, in other words.