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

[seleme]

It definitely looks bearish now but as we know that changes very fast on bitcoin.

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[gandhibt]

RTBTC doesn't get good feed from bitstamp, api problem, anyone?

[pickard]

Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.

[sumantso]

What the hell happened?!
I walk out for a couple of hours, and - this?!
Well, luckily, I sold at a loss at 940 and placed an optimistic buy at 902. Then I walked out. A few minutes later 902 got hit!
I have now 1 BTC more than what I started the day with.
On the down side, it seems to continue down, and I wonder if I should sell again and re-buy even lower...

Wow, you finally made a profit

Good on you

[pera]

It may seems "bearish" in the short-term, but even if we go down to the 500s again it would be extremely bullish in the mid/long-term... imo a correction now would be really healthy

[kurious]

RTBTC doesn't get good feed from bitstamp, api problem, anyone?

Bicoinwisdom also looks weird - long lag - very slow movement - just odd.

Hope Gox isn't flipping out - won't be pretty if it does it now

[MicroFi]

Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.

We are clearly talking about different timeframes.
I was talking about short term.

[seriouscoin]

It may seems "bearish" in the short-term, but even if we go down to the 500s again it would be extremely bullish in the mid/long-term... imo a correction now would be really healthy

translation : your order just got filled at $900....

 

[fr33d0miz3r]

Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.

I mean H&S as trend reversal pattern, not reverse H&S. Sorry, didn't understand correctly the previous posts.

[pickard]

Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.

We are clearly talking about different timeframes.
I was talking about short term.

Fair enough!  one mans 15min Bull flag is anothers 1 hour bear flag.

[kurious]

Anyone good a reliable ticker for gox just now - my regular ones (wisdom and ticker) are not showing prices properly!

EDIT:   Ah - maybe as the API is off, the bots aren't working - hence odd look

[fr33d0miz3r]

Anyone good a reliable ticker for gox just now - my regular ones (wisdom and ticker) are not showing prices properly!

bitcoinity

[Davyd05]

Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.

We are clearly talking about different timeframes.
I was talking about short term.

Fair enough!  one mans 15min Bull flag is anothers 1 hour bear flag.

bears scream 100-200 we get 600. now that we're saying 600 were probably gonna dip as low as 750.. but all in all the strong hand whale gets more coins.. from those who pick bad entry and exit points. I am avoiding all the day trading as I am just so unsure when a whale will make a splash.

I was gonna sell at 970+ on cavirtex would've been wise. but alas I really would' prefer to just let the market be while I do other more important things like drink shots of tequila with Tabasco sauce

[Carra23]

Yes it could go up from here (not likely),  but it can't be called a reverse head and shoulders, due to the all time high as the middle peak.  do you follow what i'm saying?

It doesn't matter, ATH or not ATH for the middle peak.
The middle peak of a H&S pattern is almost always a top of a trend.

Yes it matters!

If one of the peaks is the all time high, then how can there be a REVERSAL PATTERN?   The reverse head and shoulders is a reversal pattern formed after a long downtrend, showing that the market has been moving down for a long period and is reversing to go back up.  we are at the end of a long uptrend.  and the 1d chart referred to shows a potential head and shoulders.  the second peak being the all time high.

I mean H&S as trend reversal pattern, not reverse H&S. Sorry, didn't understand correctly the previous posts.

Why is there a double head? One of those two headed ogres in WoW?

[kurious]

Anyone good a reliable ticker for gox just now - my regular ones (wisdom and ticker) are not showing prices properly!

bitcoinity

Thanks I need a second opinion!

[seleme]

Wisdom works for me. Tradingview doesn't though.

[Davyd05]

Why is there a double head? One of those two headed ogres in WoW?

lulz bitcoin brings new life to TA everday

[fr33d0miz3r]

Why is there a double head? One of those two headed ogres in WoW?

Double heads are possible in H&S patterns. Nothing wrong here.
It also provides a much stronger reversal signal: Double top + H&S.

[seleme]

Why is there a double head? One of those two headed ogres in WoW?

lulz bitcoin brings new life to TA everday

Looks like reverse ass to me

[gizmoh]

China is climbing back on its own..hmmmmm.