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

[STT]

Huobi lost a positive trend over the last couple days, I drew this in very loosely.  If I could draw in some lines in faint pencil this would be one.   Bitfinex seems to be meeting an old downtrend at 2500 and also this is previously a support line.  This would be a decent line in the sand to tell the tide I think.  I think it 2470 area that was being mentioned alot so its a fair area in a battle for direction to be found.
18737 CNY is somewhere we should be holding overnight for a relatively strong price and 19407 CNY I would rate as very positive.

Overall market pulls back but I rate it positive and just normal selling, confirmation of prices.   Its not good to rise without shaking out weak hands first

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[FractalUniverse]

Not many of us believe this is head and shoulders. Will believe it when we are at 1100 and I'll be buying!

Yes, could be an head and shoulder. But not yet confirmed

the pattern may be dependent on what exchange charts we are looking, but to me it looks more like a big triangle pattern forming on daily chart. that  would mean no major breakout for some time. Problem with most of the patterns is, that they can change during their development.

[Icygreen]

Not many of us believe this is head and shoulders. Will believe it when we are at 1100 and I'll be buying!

Yes, could be an head and shoulder. But not yet confirmed

In my opinion, this is just scare tactics to get you to drop your coins. The timing is perfect for an engineered dump.  I hope one day we no longer find it necessary to peg btc to the dollar.    

[STT]

Peg it to gold, how will you commonly state value.   I agree, I hope we dont define the world by FIAT of just one country and a country which doesnt balance its trade or its national budget is probably not a stable gauge no matter how meetings are held in that hope.

I mean we could have a bi metallic standard in crypto.  Bitcoin and a minor coin its stated relative to, must be some way to find a ratio that reflects the market?

[pfrtlpfmpf]

Buy, bitches (not really my language) before we hit 3000 ! It has been served to a address near you !

[m3g4tr0n]

[ft73]

If 2550 finex doesnt hold, I would call it weekend minidump. But for now ,i still expect it to go to 2800/900 before a bit deeper correction

maybe it will hold 2450$.

as i see it at this moment...  [note that my view can change any minute, as price develops..]
 

I posted about that H&S a while ago

I think as well it will rebound a bit towards 2600$.

[rjclarke2000]

Nice!

I hope it doesn't drop below that trend line. I'm pretty confident it won't.

[DARKHOLDER]

Nice!

I hope it doesn't drop below that trend line. I'm pretty confident it won't.

Right- @ 2450$ buy orders ready

[FractalUniverse]

If 2550 finex doesnt hold, I would call it weekend minidump. But for now ,i still expect it to go to 2800/900 before a bit deeper correction

maybe it will hold 2450$.

as i see it at this moment...  [note that my view can change any minute, as price develops..]
 ..image..

I posted about that H&S a while ago

I think as well it will rebound a bit towards 2600$.

yeah, but i see that red line drawing as least likely, and more likely option that 2200 will hold (if it gets there at all) and chart forming triangle instead of H&S.

Nevertheless its interesting to watch how reality unfolds, always like a riddle by the market: guess my next move.. if you get it right, you'll be rewarded 

[JayJuanGee]

If we go above 2690 , bull market will continue I'd say

You seem to be using the term "bull market" incorrectly.  Bull and bear markets do not switch very quickly, and frequently, it will take several months in retrospect to actually be able to determine that the market has switched.

In this case, we have been in a bull market from about $250 to $2980, which is about 20 months of upwards movement.  We are still largely at the top of the range, and likely, from our current location,  prices would need to go below $1000 and stay there to be in a bear market.  Sure there may be some other ways to get to a bear market, but you gotta recall that we were at $1200, just two months ago, hello??

[becoin]

I hope it doesn't drop below that trend line. I'm pretty confident it won't.

It'll be nice if it does. I love to buy cheap coins.

[rjclarke2000]

I hope it doesn't drop below that trend line. I'm pretty confident it won't.

It'll be nice if it does. I love to buy cheap coins.

Gobble up them all up becoin!

[Meuh6879]

It moves, it moves !!!!!!!!

[julian071]

Got my new bike yesterday. Thank you bitcoin!


Actually, thank you crypto. Part is the result of trading alts. I recently looked into my alt trading history, and had a giggle at what 3500 ETH is worth today. I also found a wallet with 0.99 ETH in it that was not worth the trouble at the time, whereas it is today.

[becoin]

Got my new bike yesterday. Thank you bitcoin!

You've bought your first bike when bitcoin was 780 euro. I have to thank you. With your bitcoins I can now buy 3 bikes like this one.

[julian071]

Got my new bike yesterday. Thank you bitcoin!

You've bought your first bike when bitcoin was 780 euro. I have to thank you.

You're very welcome! Gotta enjoy life while you can!

Edit: you have 90k € worth of my old bitcoins?  

[yefi]

You must be doing something wrong. I have deposited and withdrawn thousands and thousands.

Well, how could anything possibly go wrong then. I mean if the guy with a handle that sounds like a fart can transfer "thousands" everything must be just dandy!

[Last of the V8s]

An oldie but a goodie: https://twitter.com/lightcoin/status/703375737504444416
John Light: Two important charts to review and understand when considering scaling Bitcoin via block size increases

[FractalUniverse]

An oldie but a goodie: ..

I guess I'll need to get more RAM than my 16GB and one big harddrive just for blockchain(s)