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

[bassclef]

Starting to get worried we're set for a dump to take us below 240. It's eerily quiet on here, just a hunch but I sense a dump. People might have been waiting for the pump from the other day to continue. It hasn't so we've begun a little dump, I think people who look for small profits might sell now unfortunately.

Bid support has grown tremendously so it would have to be a pretty big dump, and sell volume is running low as usual this late in the bear market. Very risky for whales to attempt this if only to manipulate. Profit-taking is generally not enough to push things down when the market is ready to move up.

At the outset of larger uptrends you'll see a resistance to lower prices and low volume on the dips as some longs take profits and retail/gamblers load up on shorts. As a trader, I might take profits here (haven't yet) but would get long at the next dip if the price continues to firm up around $250. In that case many longs who rode the first leg will watch the bull flag complete on 12h/daily chart and jump back in.

I think we either go sideways this weekend or see a pump start sometime before Monday to mark the price up for people waiting for deposits to clear at exchanges. If we do see higher prices next week watch out because many of the whales are finally turning bullish, removing sell orders and attracting volume back into the market. The ask side of Finex is quite scary if a big pump takes off. Scary in a good way as there's little to stand in the way of higher prices, and it might run to the top of the trading range ($280-300) very quickly.

What is your speculation about next week, bassclef ?

Will we say higher prices, what do you think in general ?

Obviously bullish. I think we test the 200 day MA again to see if it breaks. I think it might, easily. That means end of bull market to a lot of technicians although many of us watching closely have already sensed this. So $270-280 is a decent target for next reaccumlation zone.

[tarmi]

obviously bullish is bearish.

[bassclef]

obviously bullish is bearish.

only near the end of a trend

[tarmi]

double digits first.

but you can count me in for this last round of taking fools money.

[Fatman3001]

Starting to get worried we're set for a dump to take us below 240. It's eerily quiet on here, just a hunch but I sense a dump. People might have been waiting for the pump from the other day to continue. It hasn't so we've begun a little dump, I think people who look for small profits might sell now unfortunately.

Bid support has grown tremendously so it would have to be a pretty big dump, and sell volume is running low as usual this late in the bear market. Very risky for whales to attempt this if only to manipulate. Profit-taking is generally not enough to push things down when the market is ready to move up.

At the outset of larger uptrends you'll see a resistance to lower prices and low volume on the dips as some longs take profits and retail/gamblers load up on shorts. As a trader, I might take profits here (haven't yet) but would get long at the next dip if the price continues to firm up around $250. In that case many longs who rode the first leg will watch the bull flag complete on 12h/daily chart and jump back in.

I think we either go sideways this weekend or see a pump start sometime before Monday to mark the price up for people waiting for deposits to clear at exchanges. If we do see higher prices next week watch out because many of the whales are finally turning bullish, removing sell orders and attracting volume back into the market. The ask side of Finex is quite scary if a big pump takes off. Scary in a good way as there's little to stand in the way of higher prices, and it might run to the top of the trading range ($280-300) very quickly.

What is your speculation about next week, bassclef ?

Will we say higher prices, what do you think in general ?

Obviously bullish. I think we test the 200 day MA again to see if it breaks. I think it might, easily. That means end of bull market to a lot of technicians although many of us watching closely have already sensed this. So $270-280 is a decent target for next reaccumlation zone.

I might have fallen and hit my head, but what do you mean here?

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[bassclef]

I might have fallen and hit my head, but what do you mean here?

Something like this. 30 week simple moving average line (plots almost same as 200 day SMA) is a "one size fits all" method to track whether a market is in bear or bull mode. Lots of traditional market gurus use this number.

Basically if the market can get above it (and stay above it using it as resistance) it is a very good long term indication of things.

[spooderman]

i think it means that the bull/bear-blair witch project market bull is over technical fibonacci pendant decrease technical.

[inca]

double digits first.

but you can count me in for this last round of taking fools money.

Short away big man. We keep awaiting updates from your latest successful trade!

[dHe_zHiq]

Good morning Bitcoinland.

Still sideways around $250 I see.

Will there be any real movement before next week?

Back to the old yawn. Better make some coffee to try to stay awake.

movement towards price seems high, I hope there will be a continuation and there will be a long time

[Sitarow]

[Ivanhoe]

Starting to get worried we're set for a dump to take us below 240. It's eerily quiet on here, just a hunch but I sense a dump. People might have been waiting for the pump from the other day to continue. It hasn't so we've begun a little dump, I think people who look for small profits might sell now unfortunately.

Bid support has grown tremendously so it would have to be a pretty big dump, and sell volume is running low as usual this late in the bear market. Very risky for whales to attempt this if only to manipulate. Profit-taking is generally not enough to push things down when the market is ready to move up.

At the outset of larger uptrends you'll see a resistance to lower prices and low volume on the dips as some longs take profits and retail/gamblers load up on shorts. As a trader, I might take profits here (haven't yet) but would get long at the next dip if the price continues to firm up around $250. In that case many longs who rode the first leg will watch the bull flag complete on 12h/daily chart and jump back in.

I think we either go sideways this weekend or see a pump start sometime before Monday to mark the price up for people waiting for deposits to clear at exchanges. If we do see higher prices next week watch out because many of the whales are finally turning bullish, removing sell orders and attracting volume back into the market. The ask side of Finex is quite scary if a big pump takes off. Scary in a good way as there's little to stand in the way of higher prices, and it might run to the top of the trading range ($280-300) very quickly.

What is your speculation about next week, bassclef ?

Will we say higher prices, what do you think in general ?

Obviously bullish. I think we test the 200 day MA again to see if it breaks. I think it might, easily. That means end of bull market to a lot of technicians although many of us watching closely have already sensed this. So $270-280 is a decent target for next reaccumlation zone.

I might have fallen and hit my head, but what do you mean here?

i think it's a typo and he means "bear market".

[bassclef]

i think it's a typo and he means "bear market".

Yeah that. Didn't catch it.

[ChartBuddy]

Coin
Explanation

[Fatman3001]

i think it's a typo and he means "bear market".

Yeah that. Didn't catch it.

Ok, thx. Was feeling a bit lost there for a while.

[ChartBuddy]

Coin
Explanation

[rolling]

1600 BTC sell and the walls are holding.

[derpinheimer]

Another 1300+300 just went by 

[BitofaN1]

1600 BTC sell and the walls are holding.

That's the only good news for today, sadly.
WOW Finex went full retard.