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

[billyjoeallen]

Somebody really doesn't want that 1HR moving average to cross over.

[blatchcorn]

That only applies if we didn't experience a final bottom. your chart assumes its a bear market always.

That is NOT the short squeeze. It's the stutter step (the fake out) BEFORE the short squeeze. Volume tells the story. We're going to $350, but I dunno how far down we're going first.

Nobody is more aware than me how dangerous it is to be short right now, but we're still up over 27% in the last week and I think there will be more of a correction first. volume right now still shows more resistance than support.

I'm not even sure what pattern it is supposed to be but it looks really the same!

Also it is 6:50 am in China. Dump maystart anytime now. Fasten seat belt.

People find bullshit patterns everywhere.

[DefendKebab]

Looks like china dump started

[sleger]

Someone trying to kill the shorts on futures! https://bitcoinwisdom.com/markets/796/btcfut

No you're wrong, these are stop loss close orders from shorts actually, you can see it in orderbook page of the website.

[billyjoeallen]

That only applies if we didn't experience a final bottom. your chart assumes its a bear market always.

That is NOT the short squeeze. It's the stutter step (the fake out) BEFORE the short squeeze. Volume tells the story. We're going to $350, but I dunno how far down we're going first.

Nobody is more aware than me how dangerous it is to be short right now, but we're still up over 27% in the last week and I think there will be more of a correction first. volume right now still shows more resistance than support.

I'm not even sure what pattern it is supposed to be but it looks really the same!

Also it is 6:50 am in China. Dump maystart anytime now. Fasten seat belt.

People find bullshit patterns everywhere.

True, but I've made a lot of money following this one.

[Afrikoin]

That only applies if we didn't experience a final bottom. your chart assumes its a bear market always.

That is NOT the short squeeze. It's the stutter step (the fake out) BEFORE the short squeeze. Volume tells the story. We're going to $350, but I dunno how far down we're going first.

Nobody is more aware than me how dangerous it is to be short right now, but we're still up over 27% in the last week and I think there will be more of a correction first. volume right now still shows more resistance than support.

I'm not even sure what pattern it is supposed to be but it looks really the same!

Also it is 6:50 am in China. Dump maystart anytime now. Fasten seat belt.

Hold on, does the OP imply we are due a wick extension piercing long term EMA? ($475)

OR

supposed wick has already formed but, failed to pierce EMA? thus trend down has began?

[drbrock]

So is the new bottom around 240/250? with another swing up after?

[billyjoeallen]

Aaaaand four hours of low volume melt-up wiped out.

[LFC_Bitcoin]

So is the new bottom around 240/250? with another swing up after?

Most likely a rapid rise to 700.

Buy whilst you still can.

[billyjoeallen]

So is the new bottom around 240/250? with another swing up after?

There is no certainty, only probabilities.

[ChartBuddy]

Coin
Explanation

[JimboToronto]

So is the new bottom around 240/250? with another swing up after?

So far the new bottom has been $260.

Let's see what China (and the rest of the market) does.

[billyjoeallen]

Aaaaand four hours of low volume melt-up wiped out.

Yeah... but they needed to dump 2500btc to break 270$. Don't know 

OK, you need to understand that the pump and dump is basically over. Somebody is walking it down now, selling into his own buy orders just so he'll have more to dump on your head when you think the coast is clear.  I've seen it before. Hell, I've done it before, but this is someone or some people with serious money and coins to play with.

[Raystonn]

Just when you think Bitcoin has stumbled and is heading down... bam.

[JimboToronto]

Aaaaand four hours of low volume melt-up wiped out.

4 hours? It was at $260 4 hours ago.

This dip barely touched $270.

Feeling bearish today?

[JustAnotherSheep]

It is a bear trap.

Corrective wave on larger scale. Why? Elementary basics from here http://www.elliottwave.net/educational/basictenets/basics1.htm

See for yourself.

*Gulp*

Hmmh, the drop looks to have impulse structure, at least on Bitstamp. I could of course be wrong (and thus get bear trapped ), but imo this movement doesn't seem very corrective at all.

[billyjoeallen]

Aaaaand four hours of low volume melt-up wiped out.

4 hours? It was at $260 4 hours ago.

This dip barely touched $270.

Feeling bearish today?

Yes, for today. Tomorrow is another story.

[mrkavasaki]

i will bet my eggs on it  that we will see the $400 at least this week

[Morecoin Freeman]

i will bet my eggs on it  that we will see the $400 at least this week

Bet for 1 bitcoin? I'm sure we will not.

If you win this bet you will earn way more than if you lose because of btc prices in that case.

[mymenace]

That only applies if we didn't experience a final bottom. your chart assumes its a bear market always.

That is NOT the short squeeze. It's the stutter step (the fake out) BEFORE the short squeeze. Volume tells the story. We're going to $350, but I dunno how far down we're going first.

Nobody is more aware than me how dangerous it is to be short right now, but we're still up over 27% in the last week and I think there will be more of a correction first. volume right now still shows more resistance than support.

I'm not even sure what pattern it is supposed to be but it looks really the same!

Also it is 6:50 am in China. Dump maystart anytime now. Fasten seat belt.

careful it is a3day chart by the look of it and the three days has not completed yet