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

[ssmc2]

The BTC market is unpredictable in the short term, but longer term the obvious patterns form.  If you are a long term bull, then trade on the long term patterns.  Buy/accumulate when the market is bottomed and no one cares, sell near top of rallies.  Then be patient to get back in, because a rally bubble can take a while to unwind. A LONG while.  There may even be several mini bull runs/short squeezes along the way, but ultimately the price ends up bottoming out way lower and all volume/volatility dies.

How about this as a strategy for a lazy trader (like me)? It's the cross-overs of K and J of the KDJ indicator.

Hasn't crossed over quite yet  

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[JayJuanGee]

next year we will probably see double digits

so sell from now might be not so stupid

What a goof ball comment.. 

Even if what you are saying  is true  regarding the double digits in 1 year, what would be going on in the shorter term?  sell all now, and wait until next year, or do we just experience a slow decline of btc prices between now and next year? 

Your prediction makes no sense.  What is supposedly going to cause this down trend when in fact it appears that BTC has experienced a trend reversal (at least in the past 10 weeks or so).

Conclusion seems to be that either you are trolling, or you are talking your book because you shorted too early or you are paid to make these kinds of quip bullshit fantasy comments.

One more observation that I would like to make about what is going on with pricing relates again to volume.

If you review the daily volume of the past about 8 months (back to March) on stamp, you will see that the past 12 weeks have had a incredible increase in volume that continues to this day. 

Draw a line at 15,000 coins per day.  You will see that in the past 12 weeks, there were only approximately 4 or 5 days that had trade volumes of less than 15k coins per day.  In comparison, look at the previous 5 months, and you will see that there were less than 15 days that had trade volumes of more than 15k per day.

Accordingly, until the trade volume returns below 15k per day, I sense that we are going to witness continued volatility and movement of prices.  We are in no way a place of equilibrium with the current trading activities and price.

[adamstgBit]

The company is seeing double-digit sales growth this year, Ms. Rossiello said.
2

[koryu]

[adamstgBit]

Japanese Trade Ministry Exploring Blockchain Tech

1

[adamstgBit]

[vuduchyld]

I find it interesting that the Huobi premium over Bitstamp is now something like $11 or $12.  Last week it was $20-25 with moments of $40-50.

[Bicmac1973]

Huobi API down again?

[Ab-Soul]

I see market is bullish, forum is bullish, I hope we won't see any reverse trend. I'm %100 in Bitcoin right now.

[Bicmac1973]

Huobi API down again?

Seems to be not just the API but www.huobi.com is also not reachable. (Connection timed out)

[Meuh6879]

Price continues to droop

rise, rise ... not drop !

[r0ach]

I see market is bullish, forum is bullish, I hope we won't see any reverse trend. I'm %100 in Bitcoin right now.

It's still bullish, it's just the China spread + uncertainity of where the price is going to land after the big rise has everyone scared of where it's safe to buy at.  Probably take one week before things are worked out.

[peonminer]

Hey bears, I'm with you, bitcoin is going to crash and burn.

all the way down to 340!!!

*peon faints

[ChartBuddy]

Coin

Explanation

[Andre#]

The BTC market is unpredictable in the short term, but longer term the obvious patterns form.  If you are a long term bull, then trade on the long term patterns.  Buy/accumulate when the market is bottomed and no one cares, sell near top of rallies.  Then be patient to get back in, because a rally bubble can take a while to unwind. A LONG while.  There may even be several mini bull runs/short squeezes along the way, but ultimately the price ends up bottoming out way lower and all volume/volatility dies.

How about this as a strategy for a lazy trader (like me)? It's the cross-overs of K and J of the KDJ indicator.

Hasn't crossed over quite yet  

It did on Bitfinex. Anyway, if it does happen to bounce off, I'll just have to take the loss. Even if it goes wrong once every two years, it's still pretty good.

[MatTheCat]

The BTC market is unpredictable in the short term, but longer term the obvious patterns form.  If you are a long term bull, then trade on the long term patterns.  Buy/accumulate when the market is bottomed and no one cares, sell near top of rallies.  Then be patient to get back in, because a rally bubble can take a while to unwind. A LONG while.  There may even be several mini bull runs/short squeezes along the way, but ultimately the price ends up bottoming out way lower and all volume/volatility dies.

How about this as a strategy for a lazy trader (like me)? It's the cross-overs of K and J of the KDJ indicator.

Yeah, these indicators are great for telling traders what has already happened.....

Look back to Sept 30th 2013. Bitcoin was just above $100, we had the Silk Road crash, and the Weekly KDJ was pointing DOWN! Probably, at the time, the KDJ was right on the point of crossover, except Bitcoin then shot up to $1200, and the lagging KDJ indicator took a slight little turn up again, for just a short time, as Bitcoin went up by over 1000%.

In otherwords, a fucking terrible indicator to be using in isolation.

[r0ach]

China rally is re-started, might be a huge breakout coming:

[wutizurkwest]

The BTC market is unpredictable in the short term, but longer term the obvious patterns form.  If you are a long term bull, then trade on the long term patterns.  Buy/accumulate when the market is bottomed and no one cares, sell near top of rallies.  Then be patient to get back in, because a rally bubble can take a while to unwind. A LONG while.  There may even be several mini bull runs/short squeezes along the way, but ultimately the price ends up bottoming out way lower and all volume/volatility dies.

How about this as a strategy for a lazy trader (like me)? It's the cross-overs of K and J of the KDJ indicator.

Hasn't crossed over quite yet  

It did on Bitfinex. Anyway, if it does happen to bounce off, I'll just have to take the loss. Even if it goes wrong once every two years, it's still pretty good.

Have you backtested it against historical data?  Performing well down is one thing, sideways is another, that tends to kill MA crossover strategies.  Goomboo's Journal thread has some relevant advice. https://bitcointalk.org/index.php?topic=60501.0

Edit: If you start looking for optimal signals, you might want to try this heatmap approach: https://bitcointalk.org/index.php?topic=60501.msg736808#msg736808

[ChartBuddy]

Coin

Explanation

[ssmc2]

If China gets above 2550....