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

[xxxxxzzzzz]

solid moving up across all exchanges past 300 and no signs of stopping attempts at dragging it lower so far failed squirrel says

[GaliX]

wait for the candle to be printed above 315$ before getting over exited.

the 1d chart reminds me of the LTC chart.

we are definite in profit taking area rather then yolo long area for now.

[LFC_Bitcoin]

[ChartBuddy]

Coin
Explanation

[inca]

wait for the candle to be printed above 315$ before getting over exited.

the 1d chart reminds me of the LTC chart.

we are defiantly in profit taking area rather then yolo long area for now.

Ltc went completely parabolic. This is just an accelerating rise. But sure good place to take leveraged gains..but as you say the last technical level to hit is 315..not too far away.

I would prefer is to sit here awhile and cool off.

[BitofaN1]

Wait so are we panic buying or not? I'm so confused...

Its up to chinese willy bot creating this crap, naturally price should correct itself to ~280$ atleast before any further upward movement due to high resistance level around 305-310$ but chinese scam exchanges may keep pushing price up with their fake bot volume to even 320$ before any correction. Their shitty bots is the only reason why price is not correcting itself because volume on finex and stamp have significantly decreased which is natural before a correction.
Naturally it would be like this:

Sorry, but the last major pumps happened on Finex not on the chinese exchanges.Look at the volume.
Chinese were allways pushing the price down not up,imho.

[Le Happy Merchant]

So who really expects downward pressure?

[GaliX]

So who really expects downward pressure?

if this shows any signs of weakens at this point I am short.

This pump was leaded by LTC and will likely follow the pattern for my understanding...
The squeeze potential is quiet big right now..

[TaurusBit]

if this shows any signs of weakens at this point I am short.

This pump was leaded by LTC and will likely follow the pattern for my understanding...
The squeeze potential is quiet big right now..

Same feeling at the moment.. I'm long nevertheless.
Just placed a stop sell order @295.5 though. 

[LFC_Bitcoin]

wait for the candle to be printed above 315$ before getting over exited.

the 1d chart reminds me of the LTC chart.

we are defiantly in profit taking area rather then yolo long area for now.

Ltc went completely parabolic. This is just an accelerating rise. But sure good place to take leveraged gains..but as you say the last technical level to hit is 315..not too far away.

I would prefer is to sit here awhile and cool off.

Yeah me too. I'd like to go sideways at 305 for a week or two. We can't have price rises that are too insane because they just get dumped on. I'd like to build up slowly so sideways, just about 300 for a while would be good. Let's consolidate.

[xxxxxzzzzz]

(there is no natural downward pressure - only a handful of well funded bear shorter dumper manipulators who will attempt to drive price lower - most people aka the other 1,000,000 or 2,000,000 or whatever bitcoin users are happy to see us finally back above 300 with a continuing upward trend and have no interest whatsoever in driving price lower)

as to what to expect?

your guess is as good as mine i expect itll be difficult going further up from here right away unless we breach 310-320 in the next couple days / this week - if that happens 300 is the new floor and even the most determined bears will have a hard time pushing it back below that - right now we're deciding if 300 is going to be the floor or going to still be a short term top *this is the 3rd time this year 300 has been breached and the previous 2 have failed to stabilize above it

[TaurusBit]

Yeah me too. I'd like to go sideways at 305 for a week or two. We can't have price rises that are too insane because they just get dumped on. I'd like to build up slowly so sideways, just about 300 for a while would be good. Let's consolidate.

[inca]

So who really expects downward pressure?

if this shows any signs of weakens at this point I am short.

This pump was leaded by LTC and will likely follow the pattern for my understanding...
The squeeze potential is quiet big right now..

Squeeze of what? The majority of the leveraged long position has been locked in since the low 200's, probably a huge BTC stash from an early adopter / miner. In fact the long position is falling as the price rises.

Profit taking is natural. But shorting every rise would have stung traders very badly for the last 6 weeks. If the price really starts moving then literally anything could happen and shorting without risk management is cray cray.
 
Technical traders are looking to get in at a decent entry. I am just enjoying the 3 at the beginning of the price

[GaliX]

So who really expects downward pressure?

if this shows any signs of weakens at this point I am short.

This pump was leaded by LTC and will likely follow the pattern for my understanding...
The squeeze potential is quiet big right now..

Squeeze of what? The majority of the leveraged long position has been locked in since the low 200's, probably a huge BTC stash from an early adopter / miner. In fact the long position is falling as the price rises.

Profit taking is natural. But shorting every rise would have stung traders very badly for the last 6 weeks. If the price really starts moving then literally anything could happen and shorting without risk management is cray cray.
 
Technical traders are looking to get in at a decent entry. I am just enjoying the 3 at the beginning of the price

Well, this is not going to go up forever like this. That's not how markets behave.

[dakota neat]

So who really expects downward pressure?

if this shows any signs of weakens at this point I am short.

This pump was leaded by LTC and will likely follow the pattern for my understanding...
The squeeze potential is quiet big right now..

Bitcoin Market Cap:     $4,343,815,046
LTC Market Cap:        $276,834,126    

BTC 15,7 times bigger. 'leaded by LTC...' lol

[hdbuck]

So who really expects downward pressure?

if this shows any signs of weakens at this point I am short.

This pump was leaded by LTC and will likely follow the pattern for my understanding...
The squeeze potential is quiet big right now..

Squeeze of what? The majority of the leveraged long position has been locked in since the low 200's, probably a huge BTC stash from an early adopter / miner. In fact the long position is falling as the price rises.

Profit taking is natural. But shorting every rise would have stung traders very badly for the last 6 weeks. If the price really starts moving then literally anything could happen and shorting without risk management is cray cray.
 
Technical traders are looking to get in at a decent entry. I am just enjoying the 3 at the beginning of the price

Well, this is not going to go up forever like this. That's not how markets behave.

ltc already pumped up to >5$ agian. should xpect some shortings to go btc long.

[GaliX]

So who really expects downward pressure?

if this shows any signs of weakens at this point I am short.

This pump was leaded by LTC and will likely follow the pattern for my understanding...
The squeeze potential is quiet big right now..

Bitcoin Market Cap:     $4,343,815,046
LTC Market Cap:        $276,834,126    

BTC 15,7 times bigger.

yes but every leg up was initiated by LTC it even started this pump. The last major leg up was caused by the chinese exchanges because of the LTC/BTC pair dumps.

300-320$ is strong resistance level. 3D RSI overbought and Stoch RSI about to cross bearish.




I am for sure not going to long at this point, but rather look for a short.

[Wexlike]

So who really expects downward pressure?

if this shows any signs of weakens at this point I am short.

This pump was leaded by LTC and will likely follow the pattern for my understanding...
The squeeze potential is quiet big right now..

Bitcoin Market Cap:     $4,343,815,046
LTC Market Cap:        $276,834,126    

BTC 15,7 times bigger. 'leaded by LTC...' lol

I am really curious how far this uptrend will last. The order books are pretty thin, that means a 5 million $ movement in the litecoin market still has a pretty significant impact in btc if it happens in one single exchange. Just look at the OKCoin spike to 366$.

[ChartBuddy]

Coin
Explanation

[strawbs]

1.25k BTC buy on Stamp just now.  Someone's eager to get on board