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

[QuestionAuthority]

Explanation

I still love you ChartBuddy! Why don't you call anymore?

[YogoH]

I love looking back at the beginning or middle of this thread.  This thread is a real treasure and should be preserved for history's sake.

[Davyd05]

I can't wait till someone buys that 655 1k wall

[fonzie]

I can't wait till someone buys that 655 1k wall

Fairy whale seems to be missing in action

[kurious]

blah blah blah

*FUD & fonzie images*


Getting old Fonzie.

Don't worry about the fonz, he's kiddin', he loves BTC!!

A kilo of FUD is a kilo of love?

You have changed my perspective, I forgive Fonzie. 

Even though all he ever seems to say is: 'This user is currently ignored'.

[thezerg]

chip chip death by 1040 cuts?

[blatchcorn]

The big players are waking up and making moves

A Bitcoin millionaire has been playing huge on JD and lost 500BTC an hour ago

How can someone so stupid be so rich?  Is Kanye West into bitcoin or something?

[roslinpl]

Damn ... and no crabcakes till the end of the friday.

Transaction volume is going down. Price is going down. Great start for the weekend rally More exciting!

[ChartBuddy]

Explanation

[dnaleor]

Decision time:

[hyphymikey]

here




More http://imgur.com/a/eNTR1#lWHqwDV

Thank you!

[ChartBuddy]

Explanation

[bigasic]

its pretty obvious that some sharks want us in this area. Most of the walls are fake, but once they get done with their fun, then we should see some fun..

[MatTheCat]

its pretty obvious that some sharks want us in this area. Most of the walls are fake, but once they get done with their fun, then we should see some fun..

Notice the the 1K BTC wall guy hasn't been able to get his wall down the $650 level yet. Still sitting at $655. Could be a few days of this until he gets the prices he wants.

Decision time:

Not really. All that breach tells us is that the first leg up from $460 is over and that we are now consolidating. We knew that anyways. Question is how low will we consolidate in the ABC wave? To $580? Lower? Or was $614 as low as it is going. I make the support trendline on the current triangle to be around $635 at the moment, with resistance at around $660.

I say Wally the Wall Guy on Stamp pushes Bitcoin down to $635 trendline test, raking in BTC all the way, before taking his walls down and kick-starting the market with a bit of buying pressure before letting all the rest of the n00bs take Bitcoin up to the next major resistance level where he will take profits, and then start playing the same games again.

[Bitcoin_is_here_to_stay]

Does anyone have an updated chart with the overlays of the previous bubbles and the current line on it? I have no clue how to make one.

More important question is - why would every bubble look the same?

Surface tension.
Less facetiously, there is a classic bubble progression - Google "Anatomy of a Bubble". Bitcoin does seem to do it well for some reason.

I agree in the large term scale - but for trading successfully, we need more details.

In terms of very long term view, just go long anytime now, should be fine 3-5 years from now Or a year.

Not quite sure what you mean, but there's a certain number of features it's fair to expect - like a bear trap, super-exponential phase, double top, and ultimately back to the mean after a period below it.
Trade those successfully and you'll be doing well.

I am saying that even though I agree that "all the bubbles are the same" in the sense of bubble anatomy
http://www.portfolioprobe.com/2011/06/17/bubble-anatomy/
I do not think overlaying with previous bitcoin bubbles would give us useful hints how to trade during next couple weeks

[Bitcoin_is_here_to_stay]

Interestingly, the selling pressure seems to be mostly on Bitstamp. Any thoughts why?

[Krabby]

moar walls.

[ChartBuddy]

Explanation

[Bitcoin_is_here_to_stay]

moar walls.

Yeah, that I see . Just wondering why Huobi and Btce do not seem concerned? For a while, almost always Bitstamp price was at least couple dollars above Huobi and they were all well coordinated.

[MatTheCat]

Interestingly, the selling pressure seems to be mostly on Bitstamp. Any thoughts why?

Because that is where Wally the Wall Guy is building his Walls of course! But be rest assured, Wally has large accounts on all the big exchanges, including the CNY exchanges.

Wally's first 1000K+ BTC wall was at $675. He has been moving them down in increments of $5. Next sell off that takes Bitcoin down beneath $645, and Wally will move his 1K wall down from $655 to $650, and so on. I suspect that Wally wants to get Bitcoin to touch the triangle support trendline formed by high volume sell offs at $614, and then $622. That support is currently around $635. After that, I think that Wally will take away his wall, or devour them himself with a quick series of massive purchases, timed to take the 1 Week MACD crossover into strong positive territory.

It may not seem like it, but Wally is actually on the Bull's side. He is trying to engineer a massive break out whilst simultaneously filling his pockets with impatient speculators Bitcoins. Create the fear, the impatience, stress the market, build up the pressure, then ignite it with a huge burst of buying pressure i.e. Buy his own fucking walls in order to cause a flurry of panic buying.