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

[Wekkel]

All kinds of indicators are bottoming while the price stays steady. I would say we are winding up a coil as never seen before, but it also scares me. What if price suddenly falls through....

Half cash 

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[jojo69]

wonder if he still has the 1337 ltc i gave him.

gold

[tHash]

It's funny. I've been one of the biggest bulls on here the last few weeks.  Now, I look at the poll in this thread and see over 90% bulls.

Am I really one of the few that is feeling a little bearish right now?  

I agree, if we flatline for a few weeks, I will expect an explosion right before heading into the new year.

But I must admit, I don't have full confidence this market doesn't want to try another sell off in the next few days or this coming weekend.

I just can't imagine that we are going to have a better bitcoin news month than the last month for at least a while. I mean Bitcoin was everywhere. But soon Christmas is going to be everywhere. And people are not as likely to hassel about investments going into the holidays.

Of course, maybe the sellers are happy just holding now. Letting the buyers catch their breath before we head north again. But, to me, it kinda feels like this rally might be over.

Please disclose your position.   My guess is that you sold, and you are now talking bearishly because you are wanting to buy back lower.   There is no indication that we will crash from here.   People that heard about bitcoin through the media of the last month are only now starting to be fully verified and able to get money in.   There may be more sell offs, though I would imagine that a lot of those who really wanted to cash out have done so.   This "bubble" is quite different than the last ones.   These last two sell offs were great for cooling the market off.   We needed the train to slow, or we would be headed for serious trouble.   The more new money that is parked in bids rather than panic market buying, the better off we are.

[beetcoin]

It's funny. I've been one of the biggest bulls on here the last few weeks.  Now, I look at the poll in this thread and see over 90% bulls.

Am I really one of the few that is feeling a little bearish right now?  

I agree, if we flatline for a few weeks, I will expect an explosion right before heading into the new year.

But I must admit, I don't have full confidence this market doesn't want to try another sell off in the next few days or this coming weekend.

I just can't imagine that we are going to have a better bitcoin news month than the last month for at least a while. I mean Bitcoin was everywhere. But soon Christmas is going to be everywhere. And people are not as likely to hassel about investments going into the holidays.

Of course, maybe the sellers are happy just holding now. Letting the buyers catch their breath before we head north again. But, to me, it kinda feels like this rally might be over.

Please disclose your position.   My guess is that you sold, and you are now talking bearishly because you are wanting to buy back lower.   There is no indication that we will crash from here.   People that heard about bitcoin through the media of the last month are only now starting to be fully verified and able to get money in.   There may be more sell offs, though I would imagine that a lot of those who really wanted to cash out have done so.   This "bubble" is quite different than the last ones.   These last two sell offs were great for cooling the market off.   We needed the train to slow, or we would be headed for serious trouble.   The more new money that is parked in bids rather than panic market buying, the better off we are.

it's true.. i think last month, coinbase saw a 15% increase in its user base.. and /r/bitcoin on reddit is now the site's 50th most active subreddit. so many people post now compared to a few months ago that i'm just unable to keep with the developments there (well, okay, i post mainly here because of sig ads  )

 i don't think we're quite mainstream yet, but we just took a pretty damn huge leap in that direction.

[windjc]

It's funny. I've been one of the biggest bulls on here the last few weeks.  Now, I look at the poll in this thread and see over 90% bulls.

Am I really one of the few that is feeling a little bearish right now?  

I agree, if we flatline for a few weeks, I will expect an explosion right before heading into the new year.

But I must admit, I don't have full confidence this market doesn't want to try another sell off in the next few days or this coming weekend.

I just can't imagine that we are going to have a better bitcoin news month than the last month for at least a while. I mean Bitcoin was everywhere. But soon Christmas is going to be everywhere. And people are not as likely to hassel about investments going into the holidays.

Of course, maybe the sellers are happy just holding now. Letting the buyers catch their breath before we head north again. But, to me, it kinda feels like this rally might be over.

Please disclose your position.   My guess is that you sold, and you are now talking bearishly because you are wanting to buy back lower.   There is no indication that we will crash from here.   People that heard about bitcoin through the media of the last month are only now starting to be fully verified and able to get money in.   There may be more sell offs, though I would imagine that a lot of those who really wanted to cash out have done so.   This "bubble" is quite different than the last ones.   These last two sell offs were great for cooling the market off.   We needed the train to slow, or we would be headed for serious trouble.   The more new money that is parked in bids rather than panic market buying, the better off we are.

My position is hold. In fact I'm currently investing a little addition fiat in alt currencies as high risk speculation. But as for BTC, I'm a long term hold.

PLEASE read my post history. I have been a huge bull.

But my gut instincts say we may not be going to new highs this time. We will see soon enough.

[beetcoin]

It's funny. I've been one of the biggest bulls on here the last few weeks.  Now, I look at the poll in this thread and see over 90% bulls.

Am I really one of the few that is feeling a little bearish right now?  

I agree, if we flatline for a few weeks, I will expect an explosion right before heading into the new year.

But I must admit, I don't have full confidence this market doesn't want to try another sell off in the next few days or this coming weekend.

I just can't imagine that we are going to have a better bitcoin news month than the last month for at least a while. I mean Bitcoin was everywhere. But soon Christmas is going to be everywhere. And people are not as likely to hassel about investments going into the holidays.

Of course, maybe the sellers are happy just holding now. Letting the buyers catch their breath before we head north again. But, to me, it kinda feels like this rally might be over.

Please disclose your position.   My guess is that you sold, and you are now talking bearishly because you are wanting to buy back lower.   There is no indication that we will crash from here.   People that heard about bitcoin through the media of the last month are only now starting to be fully verified and able to get money in.   There may be more sell offs, though I would imagine that a lot of those who really wanted to cash out have done so.   This "bubble" is quite different than the last ones.   These last two sell offs were great for cooling the market off.   We needed the train to slow, or we would be headed for serious trouble.   The more new money that is parked in bids rather than panic market buying, the better off we are.

My position is hold. In fact I'm currently investing a little addition fiat in alt currencies as high risk speculation. But as for BTC, I'm a long term hold.

PLEASE read my post history. I have been a huge bull.

But my gut instincts say we may not be going to new highs this time. We will see soon enough.

whether we see new highs or not is incumbent on news and development of BTC, which no one can accurately predict. if nothing big happens in the upcoming weeks, some holders might decide to let go.

[Vycid]

Potential upward breakout from the channel we've been in for 12+ hours (gox)? Anyone else watching?

[ChartBuddy]

[OldGeek]

Yes.  I've been watching.  Hoping.

I have to say that I share most of windjc's worries.  I too am holding.  And I have fiat ready to trade.

I suppose that I'm a little depressed that all of the furor over breaking 1k and the hurrahs over outpacing the price of gold diminished so quickly.  Perhaps those items were already priced in.

A sidewise market, that usually drifts lower, keeps my finger off of the trigger.  Someone pump me up, please.

edit:  Just say a nice green candle on cny.   

[gnomesick]

Someone may have just thrown a match over at BTCChina.

edit: lol, OldGeek beat me to it :-)

[Vycid]

I cannot believe how stable Bitcoin has been acting in the past couple of days. It feels almost like a fiat exchange.

It's boring, but it's an amazingly good sign for the future of Bitcoin.

[tHash]

Yes.  I've been watching.  Hoping.

I have to say that I share most of windjc's worries.  I too am holding.  And I have fiat ready to trade.

I suppose that I'm a little depressed that all of the furor over breaking 1k and the hurrahs over outpacing the price of gold diminished so quickly.  Perhaps those items were already priced in.

A sidewise market, that usually drifts lower, keeps my finger off of the trigger.  Someone pump me up, please.

A slowly declining price on low volume in an overall bull market is a bullish sign.   Bids are still building, which is a sign that we are not entering a bear market.   We are certainly seeing an attempt to hold the market down, one would not place those walls if they were trying to sell and get top dollar.  Outside of some manipulation, the market still wants to go up, though if whoever it is succeeds in slowing the ascent, then that is a very good sign.   We either slow this down for a while or crash really hard at some point.   We need people to get used to the idea that it doesn't always go almost straight up.   So, overall I think we are sitting in a good place right now.

[OldGeek]

All right.  I'll accept that as pumping me up.  Somewhat.

I've just about blinded myself looking at the charts.  I'm starting to see wedges and waves when I close my eyes.  So, I'll just wait for consensus.

[OldGeek]

I just thought of something else that really cheers me up.  The persistent bears have been absent for a while.  Almost scary.

[Vycid]

All right.  I'll accept that as pumping me up.  Somewhat.

I've just about blinded myself looking at the charts.  I'm starting to see wedges and waves when I close my eyes.  So, I'll just wait for consensus.

This is how bad it's gotten for me. I don't even know what I'm drawing.

[DaRude]

All right.  I'll accept that as pumping me up.  Somewhat.

I've just about blinded myself looking at the charts.  I'm starting to see wedges and waves when I close my eyes.  So, I'll just wait for consensus.

This is how bad it's gotten for me. I don't even know what I'm drawing.

Is it... a dragon??? It's a dragon spitting fire isn't it?

[OldGeek]

I like that one Vycid.  The escape hatches on the north-east end of the triangles is a good touch.

[Wekkel]

No walls are holding price down atm. Buyers are just waiting and sellers holding. Indicators spiking up without significant price increases to show. Last time we dipped, we had this lull above ATH, now its below.

I am all cash now.

[macsga]

Good Morning people! It's only a spark missing... Let's see who starts this first.

[mmitech]

No walls are holding price down atm. Buyers are just waiting and sellers holding. Indicators spiking up without significant price increases to show. Last time we dipped, we had this lull above ATH, now its below.

I am all cash now.

3948 BTC to bring us to $1085, and only 1795 BTC to bring us to $1200, seems fair support to me