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

[wachtwoord]

My new view of the market:



I wouldn't be suprised to see flat for an entire year.

Even permabears are drawing uptrends again!

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[Kupsi]

3600BTC ....now volume is really pathetic, I think that any action will be a couple weeks after the Bitcoin Amestrdam conference.

It was like this after the bottom last summer too. People don't want to sell any more at this price. Now we just have to wait for the bears to turn into bulls again.

http://bitcoincharts.com/charts/mtgoxUSD#rg360zigWeeklyzczsg2013-01-01zeg2013-12-31ztgSzm1g10zm2g25zvzl

No, not really. Actually, not similar at all.

...

I'm talking about the volume.

[Globb0]

There be dragons

[zimmah]

My new view of the market:



I wouldn't be suprised to see flat for an entire year.

Even permabears are drawing uptrends again!

pretty funny how someone can draw an exponential growth curve prediction and still be bearish.

#justbitcointhings

[oda.krell]

3600BTC ....now volume is really pathetic, I think that any action will be a couple weeks after the Bitcoin Amestrdam conference.

It was like this after the bottom last summer too. People don't want to sell any more at this price. Now we just have to wait for the bears to turn into bulls again.

http://bitcoincharts.com/charts/mtgoxUSD#rg360zigWeeklyzczsg2013-01-01zeg2013-12-31ztgSzm1g10zm2g25zvzl

No, not really. Actually, not similar at all.

...

I'm talking about the volume.

Me too.

Which of those two look more like  "Volume is slowly picking up again a month after the bottom" to you?






Possibly the 'reversal' is more stretched out this time, because the entire correction was more stretched out, so I'm not taking the above as proof that we must go down again. I'm just pointing out that, so far, they look pretty dissimilar to me.

[TERA]

Attention: I have just been dubbed with the honorary title of the greatest most bearish type of bear there is: a permabear. This came after projecting a flat short term market and 'only' a 500% per year exponential growth trend.

[Kupsi]

3600BTC ....now volume is really pathetic, I think that any action will be a couple weeks after the Bitcoin Amestrdam conference.

It was like this after the bottom last summer too. People don't want to sell any more at this price. Now we just have to wait for the bears to turn into bulls again.

http://bitcoincharts.com/charts/mtgoxUSD#rg360zigWeeklyzczsg2013-01-01zeg2013-12-31ztgSzm1g10zm2g25zvzl

No, not really. Actually, not similar at all.

...

I'm talking about the volume.

Me too.

Which of those two look more like  "Volume is slowly picking up again a month after the bottom" to you?






Possibly the 'reversal' is more stretched out this time, because the entire correction was more stretched out, so I'm not taking the above as proof that we must go down again. I'm just pointing out that, so far, they look pretty dissimilar to me.

You need to look at Gox which was the biggest exchange in 2013.

http://bitcoincharts.com/charts/mtgoxUSD#rg360zigWeeklyzczsg2013-01-01zeg2013-12-31ztgSzm1g10zm2g25zvzl

[Hunyadi]

Walls are getting pretty steep...

[wachtwoord]

Attention: I have just been dubbed with the honorary title of the greatest most bearish type of bear there is: a permabear. This came after projecting a flat short term market and 'only' a 500% per year exponential growth trend.

No it was based on all your other posts. This post was actually bullish. That is what made me take note. Someone, who thus far was predicting the end of the world as we know it, switching to an (exponential) uptrend. I thought that was worthy to be mentioned

[TERA]

^^^ notice the difference between the two charts: In 2013 there was a spike down from 100 to 80 after the bottom but it immediately rebounded back up and spent all of the consolidation time near the high of 100 rather than near 80. In 2014 there is a spike down from 540 to 420 but there was no rebound and it is spending all of its consolidation time near 420 and nowhere close to 540.

[xalex]

According to my data, the number of new users learning about Bitcoin is still decreasing.

(This is an index number based on statistics from websites/webpages explaining about bitcoin.)

http://btc.pizzacat.net/threerabbitswithhatssittingonsantaslapdancingrockettothemoon/learnaboutbtc.png

Today's index (not plotted here but on hourly chart) looks like it's going to be a new yearly low for a Friday.

[niothor]

Attention: I have just been dubbed with the honorary title of the greatest most bearish type of bear there is: a permabear. This came after projecting a flat short term market and 'only' a 500% per year exponential growth trend.

And you just realized that ?

[TERA]

Attention: I have just been dubbed with the honorary title of the greatest most bearish type of bear there is: a permabear. This came after projecting a flat short term market and 'only' a 500% per year exponential growth trend.

No it was based on all your other posts. This post was actually bullish. That is what made me take note. Someone, who thus far was predicting the end of the world as we know it, switching to an (exponential) uptrend. I thought that was worthy to be mentioned

Predicting that a short term dip will occur but then rebound all the way back up and then reach new highs is 'the end of the world'. #bitcointhings

Attention: I have just been dubbed with the honorary title of the greatest most bearish type of bear there is: a permabear. This came after projecting a flat short term market and 'only' a 500% per year exponential growth trend.

And you just realized that ?

I've never been called 'permabear' before. That is supposed to be people who don't think that btc will ever rise again and is a bad long term investment. People like Fonzie.

[oda.krell]

3600BTC ....now volume is really pathetic, I think that any action will be a couple weeks after the Bitcoin Amestrdam conference.

It was like this after the bottom last summer too. People don't want to sell any more at this price. Now we just have to wait for the bears to turn into bulls again.

http://bitcoincharts.com/charts/mtgoxUSD#rg360zigWeeklyzczsg2013-01-01zeg2013-12-31ztgSzm1g10zm2g25zvzl

No, not really. Actually, not similar at all.

...

I'm talking about the volume.

Me too.

Which of those two look more like  "Volume is slowly picking up again a month after the bottom" to you?






Possibly the 'reversal' is more stretched out this time, because the entire correction was more stretched out, so I'm not taking the above as proof that we must go down again. I'm just pointing out that, so far, they look pretty dissimilar to me.

You need to look at Gox which was the biggest exchange in 2013.

http://bitcoincharts.com/charts/mtgoxUSD#rg360zigWeeklyzczsg2013-01-01zeg2013-12-31ztgSzm1g10zm2g25zvzl

No, I don't. By July / August, gox was in hot water already, and it reflected in volume. More specifically, April 2013 was gox volume in full glory, by the middle of the year they had already taken a hit. I guess to do this the right way, we'd have to sum over gox, stamp, btce and btcchina, but I can't bring myself to do it for such little gain.

[p0peji]

Attention: I have just been dubbed with the honorary title of the greatest most bearish type of bear there is: a permabear. This came after projecting a flat short term market and 'only' a 500% per year exponential growth trend.

No it was based on all your other posts. This post was actually bullish. That is what made me take note. Someone, who thus far was predicting the end of the world as we know it, switching to an (exponential) uptrend. I thought that was worthy to be mentioned

Predicting that a short term dip will occur but then rebound all the way back up and then reach new highs is 'the end of the world'. #bitcointhings

Attention: I have just been dubbed with the honorary title of the greatest most bearish type of bear there is: a permabear. This came after projecting a flat short term market and 'only' a 500% per year exponential growth trend.

And you just realized that ?

I've never been called 'permabear' before. That is supposed to be people who don't think that btc will ever rise again and is a bad long term investment. People like Fonzie.

The problem here is that you are talking to bitcoiners, who I start to believe are the same people who would think that MLM is the next best thing and is going to make them rich.

[edwardspitz]

I am by no means an expert in chart analysis or indicators. But when I look at the 3d chart and the RSI indicator all I see is the fractal repeating itself one more time:



I find this chart particular interesting because there are other indicators the could point to trend reversal (such as the way we have been right at the top of the descending channel and possibly even broken out a few times).

Looking across the 3 sections where we have been overbought you notice that the volume has increased every time. It don't think this means anything...  It is just because Kraken has gotten more customers (which of course is a good thing )  If you think my interpretation is wrong then please enlighten me.

[wachtwoord]

Attention: I have just been dubbed with the honorary title of the greatest most bearish type of bear there is: a permabear. This came after projecting a flat short term market and 'only' a 500% per year exponential growth trend.

No it was based on all your other posts. This post was actually bullish. That is what made me take note. Someone, who thus far was predicting the end of the world as we know it, switching to an (exponential) uptrend. I thought that was worthy to be mentioned

Predicting that a short term dip will occur but then rebound all the way back up and then reach new highs is 'the end of the world'. #bitcointhings

If the above is your opinion I retract my post. I certainly haven't read all your post but always got the impression you were just outright negative concerning the future (short term or long) of Bitcoin. (The fact that I didn't like the vast majority of your arguments can't have helped either). Therefore your username was labeled permabear in my head for quite a while.

[Kupsi]

^^^ notice the difference between the two charts: In 2013 there was a spike down from 100 to 80 after the bottom but it immediately rebounded back up and spent all of the consolidation time near the high of 100 rather than near 80. In 2014 there is a spike down from 540 to 420 but there was no rebound and it is spending all of its consolidation time near 420 and nowhere close to 540.

In 2014 the spike down was from 440 to 340. It rebounded and the consolidation is here now.

[ChartBuddy]

Explanation

[Kupsi]

You need to look at Gox which was the biggest exchange in 2013.

http://bitcoincharts.com/charts/mtgoxUSD#rg360zigWeeklyzczsg2013-01-01zeg2013-12-31ztgSzm1g10zm2g25zvzl

No, I don't. By July / August, gox was in hot water already, and it reflected in volume. More specifically, April 2013 was gox volume in full glory, by the middle of the year they had already taken a hit. I guess to do this the right way, we'd have to sum over gox, stamp, btce and btcchina, but I can't bring myself to do it for such little gain.

I agree. But Gox was still bigger than Stamp, BTC-e and BTC China combined, so Gox is most important.