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

[LFC_Bitcoin]

If bitcoin will go up to $800 then we could see a new all time high in my opinion. We have to cross and destroy the latest 2016 ATH to be ready for the moon take off.
A lot of new money is flowing into btc and this means only one thing, that the way is up.
Christmas gifts are just around the corner

If Bitcoin goes up to $800 it will probably continue going up to the 2013 ATH, but there might be a retrace off it back down before it goes any higher. Some predict it will surge straight through the 2013 ATH and continue to $2000 or $3000. Others predict it will go up in steps with retraces in between them, and I think that's what will happen.

I think the bolded part is correct, people will always take profit so we will inevitably have retraces on the way up.

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[DaRude]

Under $700 is BTC dead?

[Vin]

Yes, then the game is over 

[podyx]

Hit part of my long order on the dollar.

Good shit!

[Paashaas]

Cheapest price possible; sub $700, it wil go up up up!

[Chef Ramsay]

Cheapest price possible; sub $700, it wil go up up up!

QFT, don't be this guy.

[PoolMinor]

If bitcoin will go up to $800 then we could see a new all time high in my opinion. We have to cross and destroy the latest 2016 ATH to be ready for the moon take off.
A lot of new money is flowing into btc and this means only one thing, that the way is up.
Christmas gifts are just around the corner

>$830 --- 6 Noviembre 2017

[Karartma1]

If bitcoin will go up to $800 then we could see a new all time high in my opinion. We have to cross and destroy the latest 2016 ATH to be ready for the moon take off.
A lot of new money is flowing into btc and this means only one thing, that the way is up.
Christmas gifts are just around the corner

>$830 --- 6 Noviembre

I've bookmarked your guess, let's see how this turns out because it seems we had a small retrace tonight. I still think that the new wall to destroy is set @ $790: if we cross it then we are to going to be surprised

[luckygenough56]

I would have normally short at 720ish but i feel this time will be different.

So i didn't.

[BitcoinNewsMagazine]

There is heavy resistance at $780 and 5180 yuan. Also $800 and 5200 are important round number barriers. In addition 5300 is an important Fibonacci resistance level on Huobi. If all those are taken out yes ATH probable otherwise consolidation or flash crash.

[petahashminer]

There is heavy resistance at $780 and 5180 yuan. Also $800 and 5200 are important round number barriers. If both those are taken out yes ATH otherwise consolidation or flash crash.

lol let us see, the $750 first, then we will think about the resistance of 5180 yuans.

hold tight , joy is about the begin. 

[LFC_Bitcoin]

Waiting for the new ATH

As are most of us my friend. It'll be a monumentous day.

There is heavy resistance at $780 and 5180 yuan. Also $800 and 5200 are important round number barriers. If both those are taken out yes ATH otherwise consolidation or flash crash.

  Talk about not making your mind up, you've literally just named all possibilities DERP

[Elwar]

It usually starts with the Bitcoin price doubling in a month.

[calme]

Well, the current phase of the correction has lower highs than the previous and we also have lower highs within the current phase, forming a descending triangle. I'm long but shorting the current phase w/ some side money, which will be put toward a long later. We shall see.  

[JimboToronto]

Good morning Bitcoinland.

Missed yesterday with a wicked hangover but I see we had our expected profit-taking/correction down to under $700.

It didn't last long though... we're already back up to $709 on Bitcoinaverage.

Maybe we'll see some more dumpage but it feels to me like this rally is just beginning.

[DeathAngel]

It usually starts with the Bitcoin price doubling in a month.

Now that would really be something, I wasn't around during the run up to the last ATH but I'm ready for the next one

[JayJuanGee]

There is heavy resistance at $780 and 5180 yuan. Also $800 and 5200 are important round number barriers. If both those are taken out yes ATH otherwise consolidation or flash crash.

lol let us see, the $750 first, then we will think about the resistance of 5180 yuans.

hold tight , joy is about the begin. 

Yep...

It seems that a lot of us recognize various resistance points, and some of them will materialize and others will become less formidable than previously predicted.

Sometimes, it will take a bit of time to go a few dollars (or 10s of dollars upwards), and there could be a couple of explanations 1) too much resistance or 2) not enough support... Both explanations result in a similar outcome, and I will maintain that a large majority of this recent price movement from $610 to $730 and back down to lower $700s (currently).. has taken place on relatively mediocre volume.

In regards to exchange trade volume, stop fucking looking at the chinese volumes because those volumes are a bit of a distortion and difficult to pinpoint reality from them       When we talk about overall trade volumes, we need to consider the western exchanges - even thought there seems to be a fairly interesting dynamics in the Local bitcoin scene - which is actual overall increasing trade volume on a global level that is likely continuing to put price pressures - apart from the trade volume of other exchanges.

https://coin.dance/volume

Actually, I would not mind finding some data sets that include all of the exchanges, except for the three chinese exchanges (o.k , that seem to be distorting our ability to assess shorter term changes in trade volume.

If you look at only USD/BTC pairs, then that can help to give a decent assessment of changes in trade volume - like here:

https://data.bitcoinity.org/markets/volume/6m/USD?c=e&t=a

In the end, part of my point about trade volume remains that overall, trade volume has not changed in very substantial ways, yet, and we still have not really seen much if any battle in our so far BTC price journey upwards.  At some point, we are likely going to see price battles and increases in trade volume.  My current sense is that the upwards price moment seems sufficient on relatively mediocre trade volume and there are likely two areas in which a higher volume battle could commence, and I currently see those as upper $700s and mid $800s...

I would be quite pleasantly surprised if we do not see an increase in trade volume and a kind of price battle before mid-$800s... and if we get passed mid-$800s without a price battle, then the likely next place for such a price battle would be in the $3k to $5k arena.. give or take $1k... hahahahaha

[JayJuanGee]

It usually starts with the Bitcoin price doubling in a month.

I doubt that doubling of BTC prices in a month is any kind of sufficient indicator that we are going somewhere exponentially upwards, in and of itself.  In other words, there is a need for a context for such doubling to have meaning... Although I understand that if doubling in a month were to occur at this particular price point (of lower $700s - which really couldn't we start in the lower to mid-$600s as our current reference point), then we would be at a new ATH (whether that is $1,200 or $1,400), which is a very different place than we were at the two last near doublings in a month.  

As a reminder, the two last near doublings took place relatively recently:  1) in October/November 2015 from mid-$250s to $500 and 2) the near doubling that took place in May/June 2016 from lower $400s to upper $700s).

[Fakhoury]

If bitcoin will go up to $800 then we could see a new all time high in my opinion. We have to cross and destroy the latest 2016 ATH to be ready for the moon take off.
A lot of new money is flowing into btc and this means only one thing, that the way is up.
Christmas gifts are just around the corner

>$830 --- 6 Noviembre

If I can correctly recall, you my friend have nailed it more than once regarding the price.

Most probably you or someone else had an "insider" source or something, whatever, you've a BIG fan here

[strawbs]

I'm getting that late-2013 feeling again. ATH on its way at the end of November again?