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

[infofront]

[rolling]

It should be over $9000  

Give it a day or two! $16,000 by Feb. Doubling from 4000 to 8000 was ~90days

[LFC_Bitcoin]

I do one of the two most weekends, I’ll leave which one a secret though

[sirazimuth]

I have a game idea for WO. When does the BTC/USD price overtake WO's page count?

Right now the page count is at 18365, so this could take a while to reach. We also have to consider that the page count will keep increasing.

Not a new idea.  WOPCP  (Wall Observer Page Count Parity)  has been dangling out of reach for years.  Next year  it falls...

how about calling it the WOPCOP? ... (Wall Observer Page COunt Parity)
always convenient to have pronounceable acronyms doncha know!

(apologies to Italian law enforcing bitcoiners ...all four of you!)

[flynn]

 kraken >= $8000

[toknormal]

Bounce off 9500, then back to 1200 for the bottom spike, stabilise around 2500 with several month drift down to 2100 before the next surge ?

[sirazimuth]

damn dude!....that makes the WOPCOP a frikkin pipe dream.....

[Ibian]

Bounce off 9500, then back to 1200 for the bottom spike, stabilise around 2500 with several month drift down to 2100 before the next surge ?

This is not another Willy.

[lightfoot]

Tok, if that happened I would expect people to be selling blood plasma for cash to buy that dip.....

[ssmc2]

You'll never see below 5k again

[Ibian]

You'll never see below 5k again

Wouldn't go that far. But still glad I bought my stash well below 1k.

[jonoiv]

You'll never see below 5k again

  5k in december

[jojo69]

You'll never see below 5k again

careful, Bitcoin is a fickle and tempestuous mistress

[toknormal]

Tok, if that happened I would expect people to be selling blood plasma for cash to buy that dip.....

It feels like that now but when sentiment turns around, all anybody can think of doing is offloading for the highest price as poss. It doesn't take many sellers to create a huge retrace, just as long as there's more of them than buyers. In a bear market the buyers just bide their time.

We've always had 70-90 percent retraces after a huge runup.

[BitcoinNewsMagazine]

So far this year since July bitcoin price has stayed within the channels of this pitchfork drawn on a log scale chart:



The trend lines suggest a mid-term top around $9000 followed by a correction back to around $7900. Price could also correct back the the mid-line at $6500. Where it gets interesting is if price breaks through the top trend line. Also something to keep in mind is January tends to be a down month, so I am expecting a rally into middle of December then some profit taking.  

[AZwarel]

Tok, if that happened I would expect people to be selling blood plasma for cash to buy that dip.....

It feels like that now but when sentiment turns around, all anybody can think of doing is offloading for the highest price as poss. It doesn't take many sellers to create a huge retrace, just as long as there's more of them than buyers. In a bear market the buyers just bide their time.

We've always had 70-90 percent retraces after a huge runup.

Different times. Now bitcoin has 10 times more recognition, millions join monthly to buy and hodl, most new buyers are not buying in for short term profit. Institutional investors join in soon, they won't dump, they hodl as well.

Also, https://blockchain.info/charts/market-price?scale=1&daysAverageString=7&timespan=all shows that we are not in a bubble, like those big retrace events before.

[toknormal]

Different times. Now bitcoin has 10 times more recognition

Well it's got 14 times more price. (of 12 months ago).

Not different times. A spike is a spike and it's heading back to 2k or lower for consolidation before the next wave.

Just be glad if it's 2000 and not 200.

[BitcoinBunny]

I don't see why it would fall below $5600 when last weekend was a major FUD already. 

[rolling]

So far this year since July bitcoin price has stayed within the channels of this pitchfork drawn on a log scale chart:

The trend lines suggest a mid-term top around $9000 followed by a correction back to $7500. Price could also correct back the the mid-line at $6500. Where it gets interesting is if price breaks through the top trend line. Also something to keep in mind is January tends to be a down month, so I am expecting a rally into middle of December then some profit taking. 

I cringe whenever someone talks about profit taking in regards to exchanging bitcoin for fiat. Bitcoin is not a stock. I don't know how people sleep at night with their money in fiat.

[toknormal]

I don't see why it would fall below $5600 when last weekend was a major FUD already. 

It isn't FUD that crashes markets, it's technicals.