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

[jonoiv]

Looks like another push on Huobi to break through the December trend line. 

[shizuska]

 Bitstamp @Bitstamp  ·  48m ago

#Bitstamp has received info from its DDoS mitigation service provider that they are expecting a solution for OpenSSL in a matter of hours.


What Bitstamp did here was the only right solution, no doubt about it.

[NewLiberty]

Have noticed that Kraken never seem to be effected by any of these bullshit issues and come out on top everytime yet their volume is still so low

Kraken is top a noch exchange, i would say it's the better out there, they only thing they are missing is volume. They where not affected by the malleability issue also.

Indeed, everything to do with Kraken so far was perfect. Maybe volume is low, because volume is low? Meaning, they are unattractive for bigger investors as they could not act without giant slippage.

Because Whales get eaten by Krakens?

[Dalmar]

Looks like another push on Huobi to break through the December trend line.  

http://s27.postimg.org/ulzl56vpv/image.png

The ATH resistance line is nowhere near that, but closer to 3400ish CNY.

[oda.krell]

Looks like another push on Huobi to break through the December trend line.  

http://s27.postimg.org/ulzl56vpv/image.png

The ATH resistance line is nowhere near that, but closer to 3400ish CNY.

Correct. The Chinese "December triangle" is a bit less clear cut than the one on Bitstamp (e.g. it doesn't connect to the ATH itself), but it looks still pretty solid to me. Currently at ~3254. Bitstamp one at 528.

EDIT: there's an alternative "chinese triangle", with less points of contact, but that does connect the ATH. Graph added below. This one currently sits at ~3190. Thanks for pointing this one out, dreamspark.

EDIT 2: and the last one I can see for Huobi, right now at 3169.


To summarize: Breakthrough needed on Bitstamp: ~528, breakthrough needed on Huobi: 3169-3254

[dreamspark]

Looks like another push on Huobi to break through the December trend line.  

http://s27.postimg.org/ulzl56vpv/image.png

The ATH resistance line is nowhere near that, but closer to 3400ish CNY.

Could you show us how you have drawn your ATH resistance line where it is shallow enough for it to be at 3400 currently?

By my quick reckoning jonoiv is about right...



EDIT: noticed that jonoiv's is steeper than I thought but still closer to ~2850 than ~3400.

[roslinpl]

458 or more
458 or more !

Come on bitcoin! don't be shy! Fly like a bird (like a bird that does fly high, like Tibetan geese - those can fly up to Everest height during their flight)

[billyjoeallen]

458 or more
458 or more !

Come on bitcoin! don't be shy! Fly like a bird (like a bird that does fly high, like Tibetan geese - those can fly up to Everest height during their flight)

The air is very thin up there. Little air to support lift.

[Davyd05]

458 or more
458 or more !

Come on bitcoin! don't be shy! Fly like a bird (like a bird that does fly high, like Tibetan geese - those can fly up to Everest height during their flight)

this should help calm the nerves, I don't know why a business would open bank wire transfers if the countries regulatory system is going to ban hammer them in 6 days.

https://twitter.com/btercom/status/453413102113931264

I mean these guys seems more about pumps with these type of announcements but hey, its a guarantee lol https://twitter.com/bitcoinowl/status/453530103763730432

[rohnearner]

458 or more
458 or more !

Come on bitcoin! don't be shy! Fly like a bird (like a bird that does fly high, like Tibetan geese - those can fly up to Everest height during their flight)

haha always expecting the best..! I like your optimism though .!

[Dalmar]

Could you show us how you have drawn your ATH resistance line where it is shallow enough for it to be at 3400 currently?

By my quick reckoning jonoiv is about right...

https://i.imgur.com/0zxIidF.png

EDIT: noticed that jonoiv's is steeper than I thought but still closer to ~2850 than ~3400.

If you connect the Nov 30 top (ATH on most non-Chinese exchanges) with the Jan 6 top on Huobi the line gets to about 3400 CNY on the daily. This line also accurately predicted the top of the Mar 4 bull trap on Huobi.

edit: This is on log scale.

[billyjoeallen]

Anyone notice that now $458 is compared to Mt. Everest, by a Bull!  My estimate that $400 will hold is back up to 60%.

[fonzie]

https://twitter.com/btercom/status/453413102113931264

I mean these guys seems more about pumps with these type of announcements but hey, its a guarantee lol https://twitter.com/bitcoinowl/status/453530103763730432

He could be right, there might be another bubble from 60 to 400$ in 1-2 years.

[dreamspark]

Could you show us how you have drawn your ATH resistance line where it is shallow enough for it to be at 3400 currently?

By my quick reckoning jonoiv is about right...

https://i.imgur.com/0zxIidF.png

EDIT: noticed that jonoiv's is steeper than I thought but still closer to ~2850 than ~3400.

If you connect the Nov 30 top (ATH on most non-Chinese exchanges) with the Jan 6 top on Huobi the line gets to about 3400 CNY on the daily. This line also accurately predicted the top of the Mar 4 bull trap.

Does it?

Connecting the Nov 30th top with the Jan 6 top on the daily shows that trend line being broken on the March 4th bulltrap and now acting as resistance?



A zoomed out example of where your drawing it may help me see where your coming from.

[Davyd05]

Just drew it and it hit the tops all the way to mar 5 nothing broke out.

edit re read,

2nd top nov 29-30th top connected to Jan 6 has it cut through the march 4th point and then perform resistance on my chart as well.

I was connecting Nov top with Jan's top

edit 2 : remember not everyone has log charts enabled.. me thinks log was used to get the line that appears to touch all the tops fron nov to march

[hdbuck]

Just drew it and it hit the tops all the way to mar 5 nothing broke out.

same here

[dreamspark]

Just drew it and it hit the tops all the way to mar 5 nothing broke out.

edit re read,

2nd top nov 29-30th top connected to Jan 6 has it cut through the march 4th point and then perform resistance on my chart as well.

I was connecting Nov top with Jan's top

Okay that makes much more sense thought I was going crazy for a second. This is the overall chart I'm mainly looking to at the moment which is showing a clear breaking of the December trend based on the Jan 6th top and clear resistance based on the March 4th top together forming a bearish channel that we have been stuck in for the best part of a month.

[Dalmar]

remember not everyone has log charts enabled.. me thinks log was used to get the line that appears to touch all the tops fron nov to march

Yeah, forget to mention that. I used log, isn't that supposed to be a standard in bitcoin charting?

[Davyd05]

Just drew it and it hit the tops all the way to mar 5 nothing broke out.

edit re read,

2nd top nov 29-30th top connected to Jan 6 has it cut through the march 4th point and then perform resistance on my chart as well.

I was connecting Nov top with Jan's top

Okay that makes much more sense thought I was going crazy for a second. This is the overall chart I'm mainly looking to at the moment which is showing a clear breaking of the December trend based on the Jan 6th top and clear resistance based on the March 4th top together forming a bearish channel that we have been stuck in for the best part of a month.

my further fiddling clarified in my edited statement, in log you can get a line that will touch from all the tops no gaps.

so chart the stuff in log and find the same results.

also funny to then swap it back to linear nd see the curved effect it takes on

[Davyd05]

remember not everyone has log charts enabled.. me thinks log was used to get the line that appears to touch all the tops fron nov to march

Yeah, forget to mention that. I used log, isn't that supposed to be a standard in bitcoin charting?

I'm always in log, but the default is linear on the site. That is why I mentioned it for all the newbies just lurking on all of us.