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Question: Oct. 16 Closing Price:
<$8,000 - 2 (2.2%)
$8,000-$8,500 - 0 (0%)
$8,500-$9,000 - 0 (0%)
$9,000-$9,500 - 0 (0%)
$9,500-$10,000 - 3 (3.4%)
$10,000-$10,500 - 5 (5.6%)
$10,500-$11,000 - 7 (7.9%)
$11,000-$11,500 - 13 (14.6%)
$11,500-$12,000 - 25 (28.1%)
$12,000-$12,500 - 14 (15.7%)
$12,500-$13,000 - 6 (6.7%)
$13,000-$13,500 - 4 (4.5%)
$13,500-$14,000 - 2 (2.2%)
>$14,000 - 8 (9%)
Total Voters: 89

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 23317287 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (148 posts by 37 users deleted.)
Last of the V8s
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February 23, 2019, 09:11:47 PM

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mikeywith
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February 23, 2019, 09:20:43 PM

thanks for the TA but ... party pooper Smiley

tried tell the forum members to short at 5700 last Nov, but they thought i was a "party pooper and fud spreader" Grin , but if you think this is the rally that is going to take us to ATH, be my guest, take my BTC give me your cash  Grin
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February 23, 2019, 09:23:49 PM
Merited by JayJuanGee (1)

thanks for the TA but ... party pooper Smiley

tried tell the forum members to short at 5700 last Nov, but they thought i was a "party pooper and fud spreader" Grin , but if you think this is the rally that is going to take us to ATH, be my guest, take my BTC give me your cash  Grin

Regarding the bolded - I’ve seen nobody claim anything like that buddy. Nothing wrong with a bit of HOPIUM & people being happy about a pump though. It’s nice to feel a pulse every now & then Wink
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February 23, 2019, 09:29:59 PM

Ok..I guess we aim for the bear line. Some new fibs

1h


I am feeling more and more confident that the low we seen in December of 2018 was the bottom. Maybe even up to and over 51% now. The next major milestone is when and where we deal with this overall downtrend line from the ATH.
D


Hello volume.
4h


The rally is definitely real..now we just have hodl on until the next level.
D

#stronghands'19
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February 23, 2019, 09:37:54 PM

Peter Peter Pumpkineater

mikeywith
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February 23, 2019, 09:42:26 PM

Regarding the bolded - I’ve seen nobody claim anything like that buddy. Nothing wrong with a bit of HOPIUM & people being happy about a pump though. It’s nice to feel a pulse every now & then Wink

they don't have to say it, i am pretty sure most noobs feel this way every time btc pumps, tho i am sure many of them have said it somewhere, i don't have the time to dig for such moon posts, to me, there is everything wrong with being happy about a pump like that, i trade the market in "calm" mode, take my profit and gtfu, but if you want to throw a party for this pump i don't mind attending, and i promise i won't be a "party pooper"  Grin
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February 23, 2019, 09:48:04 PM

even though Hairy the no longer bearie.. seems inclined to count his V8 chickens.

V8 owes me 1.2 million satoshis.  That’s a lot of chickens. 
Last of the V8s
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February 23, 2019, 09:49:32 PM

I am feeling more and more confident that the low we seen in December of 2018 was the bottom. Maybe even up to and over 51% now.
#stronghands'19

.....
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February 23, 2019, 09:54:25 PM
Last edit: February 23, 2019, 10:19:30 PM by Last of the V8s
Merited by HairyMaclairy (1), kenzawak (1)


edit
mikeywith
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February 23, 2019, 09:54:49 PM
Merited by HairyMaclairy (1), d_eddie (1)

I am feeling more and more confident that the low we seen in December of 2018 was the bottom. Maybe even up to and over 51% now. The next major milestone is when and where we deal with this overall downtrend line from the ATH.

I do think so too, that charts say so, but i don't think this is the rally we waiting for.

before you start reading. if you think TA is useless, gtfo now because this is going to be painful to read.

if you believe in TA and history repeating itself on the chart, jump in this could be very interesting.


I made a few posts regarding Bitcoin price prediction, with no bragging what so ever, i managed to sell before the collapse, re-bought very close to the last low, thanks to TA ( this line goes to those who say TA is bullshit but didn't gtfo  Grin ) > https://bitcointalk.org/index.php?topic=5071613.100

-------------------------------------------------

Ok b.s aside  let us first start with analyzing the big picture of bitcoin, and why do i think that we have either bottomed out or just about to bottom out.

I will be combining a few a technical views, some of which i have mentioned before.

1- 50 Moving Average on the monthly chart.



the chart you looking at is the BLX, it has the longest data you can possibly find, the first candle goes to first of July 2010.

looking at the chart, we can clearly see that the 50 MA was never closed below and price did have a wick going under but not a single monthly close below.

while the current monthly candle have not really touched the MA which is why i think we could possible have make another slightly lower low with a wick that can go to as low as 2000$ but the monthly candle has to close above 2900$ for this 50 moving average to be valid.

2- 200 Moving Average on the weekly chart



almost the same look of the monthly 50 MA, except that on this weekly chart we did actually touch the 200MA and bounce right of it, you can also see that the 200 weekly moving average has never had a single weekly close below it, price did have a wick but not a close, and this suggest that if we were going to go down again to touch the monthly 50 moving on the monthly then price will come up fast enough before a weekly close.

3- The 2800-3100 is a major support/resistance level.



this price level has acted as both support and resistance level for about 105 days during last year. for 105 days it was the only critical line on site level that traders had their buys and sells around, it held the almost 35% drop in Aug 2017 and price surged from there.

 many traders have been setting their long positions at around the area, which justifies the recent pump, as many traders think that we bottomed out and are trying to enter as early as the can.

4- The Stotcastic RSI on the monthly chart



 the Stochastic RSI is at as low as the bottom of 2014 ranging at around 0.24 , while we still need to see a cross to confirm the start of an up trend , and since is is a monthly chart so another 500-1000$ drop from the latest low won't have much of an impact on the monthly layout which indicates an over sold market that is ready to change bullish.


5- The RSI on the monthly chart




The current value of the RSI is 45 while the last bear market had a bottomed out at 44, this only indicates that there is no much room for more dips, and the bottom should be there or just around the corner.


6- The ichimoku cloud on the weekly chart

 

sorry about the dark black ground on this one.

nothing much to say about this, it's clear that every time the red cloud appears, the bear market get's closer to end.


7- The lack of support below this level.



The bulls know for sure this support is a do or die, as we certainly have no sort of support below this until 900-1100$ , with only a minor weak support that has been tested only once, technically that support line is as good as not there, therefore the need for defending this area and to never have a weekly candle close below 2900 is very important for the bulls.

-----------------------------------------------------------------


Now giving the fact that these analysis are based on large time frames, so the results will only confirm in months from now, saying we could have bottomed out does not mean you look at the hourly chart and say why are we dropping , the chart on the small time frame still looks as bearish as hell, so if you are a day trader then you should be following the current trend to place your positions, but if you are a long term trader then you should be only using any potential dip to buy so you can level up a good average price of your holdings.

it makes 0 sense to sell now if you are planning to hold for so long, i expect the price to test the 5k region and then make another leg down, this can be a good change to short and then to re enter the sub 3k as most likely every bottom has to be tested twice before making a V shape to the upside.

also keep in mind that the end of bearish trend does not mean the start of a bull run, it usually means a few months of consolidation between the bottom and the last high of the last leg down , which in our case if we were to assume 3k to be the bottom then the siedways market will be between 6k and 3k which can last from a few months to a whole a year before breaking the 6k and going on a bull run that will mark new ATHs.

long story short, buy around 3k , sell around 6k  until once of those levels are broken then you act accordingly. if you don't know how to trade,and you failed to sell at 5.7k then don't sell now, the room to the upside now is more than that to the downside.

This is not a financial advice, trade safe. follow the trend.




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February 23, 2019, 10:03:55 PM




here we go  Wink

https://twitter.com/BigMacIndexBTC

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February 23, 2019, 10:20:35 PM

.....

I feel like I would not be much of a wizard if I didnt cast some doubt on the situation once in awhile.

I do think so too, that charts say so, but i don't think this is the rally we waiting for.

I dont think this is the one either, I do however think we are correcting into the right area for crossing over the downward trend line and that we will trend sideways in the $4k to $6k range for several months before attempting a run at $10k+

Nice TA by the way.

+1 WOsMerit
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February 23, 2019, 10:28:08 PM
Merited by bones261 (2)

Nice green candles to go on top of my cake on my special day. Smiley

Happy birthday dear WO brother.
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February 23, 2019, 10:37:42 PM
Merited by JayJuanGee (1)

Zhou Tonged - Bitcoin's Back (Eminem - Without Me)



Good vibes! Smiley

Guess who's back??? Cheesy BITCOIN!
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February 23, 2019, 10:43:29 PM

via Imgflip Meme Generator

One of the things that passed.......

Meanwhile keep pumping (0 BTC conversations t’ill now )

+-6 Wines and a gin tonic

Ordening another one as we speak

To cheer on Bones261

Have a good one brother and keep maintaining the forum, Guys as you are needed in places as this
Writing Will get worse and worse from now



via Imgflip Meme Generator

Didn’t read any F***ing thing from here
But man booze has to come out sooner or later
And come on give me Some sending around dynamite
I give them best when i’m @i’m right now
And meanwhile i’ve been given them nocoiners Some talk and sense F*** like Some of them but retarded as oilgrease they are!!!!
Where’s that white russian cause closing the eve @a cocktail bar
!!!!
Cheers
BoB are you drinking to?
I’m way ahead of you
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February 23, 2019, 10:44:13 PM


Good vibes! Smiley

Guess who's back??? Cheesy BITCOIN!


lol

2013 called
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February 23, 2019, 10:46:47 PM
Merited by HairyMaclairy (1)

Interesting development in the bitstamp order book.

If anyone remembers I mentioned a few weeks ago about how much buying support there was around the 3k level, but, also at the same time how the sell orders were not following the price down (IIRC 2000 btc sold bring the price down 4%, whereas 2000 bought price up around 20%).

I've continued to keep an eye on the order book during this last increase and at the 3700 then 3900 levels buy orders and sell orders were balanced (IIRC about 2500 sold or 2500 bought would move the price 15% either way). Meaning that despite the recent increase in price the buy orders were not following the price up, meaning lack of confidence in the bounce.

Well, right now order book is showing if 2000 coins are sold the price will drop 12%, but, if 2000 coins are bought the price will rise 21%. I can only interpret this as buyers now regaining confidence and beginning to follow the price up rather then waiting for a dip to the lows or new lows. In my mind this is confirmation that the low is now in.
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February 23, 2019, 10:47:05 PM

NOT prudent to be giving taking any kind of "investment advice" in these here threads
FTFY

Fair point.
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February 23, 2019, 10:51:51 PM

Bitcoin from last few days. It's gonna fly in no time 🙂



Guys, guys, slow down, it's way too early for that. This is just a bart.
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February 23, 2019, 10:52:12 PM

thanks for the TA but ... party pooper Smiley

tried tell the forum members to short at 5700 last Nov, but they thought i was a "party pooper and fud spreader" Grin , but if you think this is the rally that is going to take us to ATH, be my guest, take my BTC give me your cash  Grin

Regarding the bolded - I’ve seen nobody claim anything like that buddy. Nothing wrong with a bit of HOPIUM & people being happy about a pump though. It’s nice to feel a pulse every now & then Wink

Exactly!

There is nothing wrong with trading BTC, and even employing margin (which is more risky than merely HODLing and accumulating), but if you start to make claims that diss on BTC HODLers and those who don't sell their BTC and merely buy BTC on dips or dollar cost average into BTC, then you have gone a step too far.  

In other words, fuck the "know it all down-callers" (by the way, don't take this personally, mikeywith.... I think you make some decent points in your various posts... hahahahahaha)...
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