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Question: Sept. 21 Closing Price:
$0 - 3 (2.9%)
<$8,000 - 5 (4.9%)
$8,000-$8,500 - 1 (1%)
$8,500-$9,000 - 2 (1.9%)
$9,000-$9,500 - 5 (4.9%)
$9,500-$10,000 - 6 (5.8%)
$10,000-$10,500 - 22 (21.4%)
$10,500-$11,000 - 20 (19.4%)
$11,000-$11,500 - 19 (18.4%)
$11,500-$12,000 - 6 (5.8%)
>$12,000 - 8 (7.8%)
>$20,000 - 6 (5.8%)
Total Voters: 103

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21374274 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (106 posts by 21 users deleted.)
Nightowlace
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June 09, 2013, 02:59:14 AM
 #14401

$70 by Wednesday. Then a nice steady rise to $100 again.
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lucas.sev
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June 09, 2013, 03:00:10 AM
 #14402

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?
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June 09, 2013, 03:01:05 AM
 #14403

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June 09, 2013, 03:16:25 AM
 #14404

4H chart update, oversold and multiple cross overs:

https://www.tradingview.com/
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June 09, 2013, 03:30:13 AM
 #14405

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?
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June 09, 2013, 03:32:33 AM
 #14406

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

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June 09, 2013, 03:36:05 AM
 #14407

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?


It tells me nothing, I wanted to get more insight on how the graph can be interpreted in a way that tells you "its oversold". From I understand "oversold" means that it is expected to go back to non-"over" state i.e. buying is expected?
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June 09, 2013, 03:36:49 AM
Last edit: June 09, 2013, 03:49:05 AM by Abandon
 #14408

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

If those lines at the bottom go below or above the middle area, it is oversold or overbought. The MACD is a little different, if it goes above the pink pink area it is bullish, if it is below that pivot point, it is bearish. If the two lines cross, then it might be a change in trend also.

Usually if two lines cross, then touch the middle area, that's a change in trend signal.

The pink bars on the MACD is volume. If they are above the pink pivot then it's more bought, if it below then it is more sold. They tend to be curvature.

The BB %R takes in account the bollinger bands and the %R, when it bounces off of the walls.

At times one or more of these indicators can be misleading.
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June 09, 2013, 03:48:24 AM
 #14409

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

If those lines at the bottom go below or above the middle area, it is oversold or overbought. The MACD is a little different, if it goes above the pink pink area it is bullish, if it is below that pivot point, it is bearish. If the two lines cross, then it might be a change in trend also.

Usually if two lines cross, then touch the middle area, that's a change in trend signal.

The pink area on the MACD is volume. If it's above the pink pivot then it's more bought, if it below then it is more sold. They tend to be curvature.

The BB %R takes in account the bollinger bands and the %R, when it bounces off of the walls.

At times one or more of these indicators can be misleading.

Thank you! Wink So MACD tells us we are bearish, because only cross above the pink area tells signals bullish market, yes? Do I understand correctly that oversold is interpreted as expecation to get back to higher pricepoint?
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June 09, 2013, 03:53:39 AM
 #14410

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

If those lines at the bottom go below or above the middle area, it is oversold or overbought. The MACD is a little different, if it goes above the pink pink area it is bullish, if it is below that pivot point, it is bearish. If the two lines cross, then it might be a change in trend also.

Usually if two lines cross, then touch the middle area, that's a change in trend signal.

The pink area on the MACD is volume. If it's above the pink pivot then it's more bought, if it below then it is more sold. They tend to be curvature.

The BB %R takes in account the bollinger bands and the %R, when it bounces off of the walls.

At times one or more of these indicators can be misleading.

Thank you! Wink So MACD tells us we are bearish, because only cross above the pink area tells signals bullish market, yes? Do I understand correctly that oversold is interpreted as expecation to get back to higher pricepoint?

Currently the MACD is bearish for the long term, but the lines there are about to cross over, so it might be bullish for a little while. Oversold or overbought usually means that the market is due for a correction or change in trend.
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June 09, 2013, 04:01:24 AM
 #14411

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June 09, 2013, 04:12:38 AM
 #14412

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

Very jagged walls like that imply ownership by a single person. Fake or real is not really the issue imo; it means buy support can suddenly disappear at the whim of a single market participant.
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June 09, 2013, 04:15:49 AM
 #14413

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

Very jagged walls like that imply ownership by a single person. Fake or real is not really the issue imo; it means buy support can suddenly disappear at the whim of a single market participant.

Imagine the panic it would cause if it disappeared now
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June 09, 2013, 04:16:55 AM
 #14414

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

Very jagged walls like that imply ownership by a single person. Fake or real is not really the issue imo; it means buy support can suddenly disappear at the whim of a single market participant.

Imagine the panic it would cause if it disappeared now

Exactly.... Moreover the ask side is offering terrible liquidity.
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June 09, 2013, 04:22:06 AM
 #14415

Indeed. We were overbought for most of the sprint upward in April.
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June 09, 2013, 04:35:55 AM
 #14416

I recommend anyone who isn't an expert trader to take an educative read: http://www.babypips.com/school/the-big-three.html
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June 09, 2013, 05:02:39 AM
 #14417

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June 09, 2013, 05:19:36 AM
 #14418

Speculators and traders thrive on volatility. Volatility is not good for bitcoin. Lack of volatility causes speculators to exit. Speculators exiting causes price to drop. Could be a good sign for the long-term health of bitcoin (I won't say "bullish").

Bitcoin needs to build fundamentals. That is what will drive its success.

I agree about the fundamentals, but not in whole about the role of speculators. Having a number of them there who are prepared to risk their own capital to provide liquidity is not such a bad thing.

I don't mean to disparage speculators but I think there is likely such a thing as excess liquidity at times.
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June 09, 2013, 05:22:00 AM
 #14419

I don't mean to disparage speculators but I think there is likely such a thing as excess liquidity at times.

What's the name we give to our most liquid asset?

Money.  Wink
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June 09, 2013, 05:31:23 AM
 #14420

I don't mean to disparage speculators but I think there is likely such a thing as excess liquidity at times.

What's the name we give to our most liquid asset?

Money.  Wink

Exactly. And just like with the housing market, there can be too much of it around. Of course, if the governments didn't print so damn much of it...
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