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

[shmadz]

Long term MA is now flat. Bullish!

Great! Just like December 2014

Not quite. The indicator never changed direction in December, the price remained lower than the average, so the average kept going down (very slowly so it only looks flat)

More similar would be June 2014 when it flattened out and reversed direction. (Failed rally, bearish signal, short term average cross few months later confirmed)

If the price remains above 250 that long term moving average will go from flat to up. This combined with the decisive short term average cross couple weeks ago just adds more technical evidence that the market has indeed turned around.

If we can just get some big dumps and move the price back down to 250-260 range we can at least get that short term line to come back and touch the long term and introduce some uncertainty... That perhaps could buy us a little more time, but the overall direction is looking up, and time is running out.

[1714686597]

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[1714686597]

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[BrewCrewFan]

Anyone wants to bet if the Walls on finex at 297 and 300 are real?

My money is on fake(ish).

I would say fake too, I have seen those 300-500 coins each on walls get moved up or down depending on what is happening.

[rebuilder]

speaking of walls, the stairway on bitfinex's bid side has been a permanent fixture throughout this upward movement of late. Accumulating? Trying to shore up support? Some kind of arbitrageur?

[ChartBuddy]

Coin
Explanation

[shmadz]

speaking of walls, the stairway on bitfinex's bid side has been a permanent fixture throughout this upward movement of late. Accumulating? Trying to shore up support? Some kind of arbitrageur?

I believe they call that a market maker. (Actually, everyone that has an open bid or ask is doing the same thing basically)

You just build a tranche on either side and soak up volatility, providing liquidity.

If your fees are low enough and the market stays in a range,  it's great.  I stopped doing it somewhere around last summer because virtex fees were 1.5% and most importantly, the market was moving mostly one direction.

[JimboToronto]

Good morning Bitcoinland.

Still scrapping over $290 I see.

Typical weekend low volume but at least we're still over $280 with a slight upward tendency. This is good.

[inca]

Everyone just waiting for the inevitable big buy which triggers an avalanche of leveraged longs after 300.



If we retake 300 and put in a higher high then even I will probably take a large leveraged position

[LFC_Bitcoin]

First time I've checked the price today, 290 . Now let's consolidate here and not go back into the 280's please!
Anybody thinking they need to buy ASAP before we go above 300? Come on people gobble up these cheap coins whilst you can.

[ChartBuddy]

Coin
Explanation

[Wexlike]

Good morning Bitcoinland.

Still scrapping over $290 I see.

Typical weekend low volume but at least we're still over $280 with a slight upward tendency. This is good.

Bitfinex: Wallmanipulation from 270$ to 277$.

[BitcoinNewbie15]

Bitcoin is nearing the $300 price point again. I wonder if it will cross it any time soon. The volume is sort of low right now though. Maybe Bitcoin will go sideways some more.

[natewelt]

Good morning Bitcoinland.

Still scrapping over $290 I see.

Typical weekend low volume but at least we're still over $280 with a slight upward tendency. This is good.

Bitfinex: Wallmanipulation from 270$ to 277$.

How do you figure? explain

[ChartBuddy]

Coin
Explanation

[unent]

Good morning Bitcoinland.

Still scrapping over $290 I see.

Typical weekend low volume but at least we're still over $280 with a slight upward tendency. This is good.

Bitfinex: Wallmanipulation from 270$ to 277$.

How do you figure? explain

He probably means the gap with no buy orders shown by the yellow arrow. It was a nice evenly spaced run of buy orders, then that gap suddenly appeared with walls above and below it. The whole buy side looks artificial now, but the market is heavily manipulated by whales sometimes.

[bassclef]

He probably means the gap with no buy orders shown by the yellow arrow. It was a nice evenly spaced run of buy orders, then that gap suddenly appeared with walls above and below it. The whole buy side looks artificial now, but the market is heavily manipulated by whales sometimes.

Well everyone gave them the opportunity to load up in January when someone shorted 30k coins to force capitulation. Everyone sold sold sold and shorted for months after that and the troll army and bears were convinced double digits were right around the corner. In actuality Whales and whoever else wanted a piece of Bitcoin could sit at the bottom and accumulate with open arms around $200. Now that they own most of the floating supply they can basically control the market. It is no accident nor conspiracy that the market gave them this opportunity. Fortunately it's in their interest to go UP

[Wexlike]

Good morning Bitcoinland.

Still scrapping over $290 I see.

Typical weekend low volume but at least we're still over $280 with a slight upward tendency. This is good.

Bitfinex: Wallmanipulation from 270$ to 277$.

How do you figure? explain

He probably means the gap with no buy orders shown by the yellow arrow. It was a nice evenly spaced run of buy orders, then that gap suddenly appeared with walls above and below it. The whole buy side looks artificial now, but the market is heavily manipulated by whales sometimes.

I mean the small green "stairs" in your picture. Depending on the direction where the manipulator wants to move the market, he creates or pulls his walls. That is going on for weeks already on bitfinex.

[ChartBuddy]

Coin
Explanation

[BlackSpidy]

What's the next goal, guys? $340? I feel $340 between now and mid August is a realistic goal. We might (might? what the fuck is wrong with me!?) will be indefinitely going over $300 soon enough.

[magicmexican]

What's the next goal, guys? $340? I feel $340 between now and mid August is a realistic goal. We might (might? what the fuck is wrong with me!?) will be indefinitely going over $300 soon enough.

It it will break the ~312$ double top with the massive momentum i can see it touching the 380$, and maybe even 420(blaze it, etc), before flatlining somewhere near 340$ for a while.

[LFC_Bitcoin]

What's the next goal, guys? $340? I feel $340 between now and mid August is a realistic goal. We might (might? what the fuck is wrong with me!?) will be indefinitely going over $300 soon enough.

340 might be a bit ambitious by mid August? I'd honestly settle at getting over 300 & staying there. Fed up of being in the 200's. It's a totally false price, with only 21 million coins to ever be mined it's retarded that we're stuck in the 200's.

A fair price for 1 bitcoin should be around 400-450 USD imo. I'm expecting 600-700 USD couns as a result of next summers halving but that's another discussion.

So yeah lets get the hell above 300 & stay there