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

[aminorex]

The BTC market is unpredictable in the short term

My monkey says BTC goes down for two weeks more on a daily basis.  He thinks this is probably the start of a downtrend on a weekly basis as well.

Intraday, the monkey wants it to go down for 4 more hours before it turns up.

I agree about longer-term being more predictable in BTC, because my monkey has not done very well on the daily charts, but has generally done pretty well on the weekly charts, in the BTCUSD domain.

EDIT:  FYI, Monkey just flipped to bullish Intraday, expects another 3 hours of upside.

[peonminer]

The BTC market is unpredictable in the short term

My monkey says BTC goes down for two weeks more on a daily basis.  He thinks this is probably the start of a downtrend on a weekly basis as well.

Intraday, the monkey wants it to go down for 4 more hours before it turns up.

I agree about longer-term being more predictable in BTC, because my monkey has not done very well on the daily charts, but has generally done pretty well on the weekly charts, in the BTCUSD domain.

ftfy

[adamstgBit]

When the market is being controlled by literally one deep pocket whale or a small consortium, it's gonna be a while.  They will take their time, keep short squeezing and selling into strength until all interest in the market is exhausted.  Then they will dump.

Could be weeks before it all plays out.  Check back at the end of the year.

Pretty much this. After watching bitcoin for only six months , I am amazed how grossly the BTC market is being manipulated by Chinese exchanges working together with a handful of deep pockets/mining cartels. From fake DDOS claims , to shamelessly pumped volume to front running and insider trading.Trading bitcoin looks like a bad joke right now.I might even state that bitcoin won't succeed without either decentralized exchanges or heavily regulated/audited ones. And I don't think China is keen on western regulation. Just my 2 cents.
Disclaimer: I bought all my coins from May through October this year most of them below $250 and overall am more than pleased with my investment but I am also done hodling for now.      
  

The BTC market is unpredictable in the short term, but longer term the obvious patterns form.  If you are a long term bull, then trade on the long term patterns.  Buy/accumulate when the market is bottomed and no one cares, sell near top of rallies.  Then be patient to get back in, because a rally bubble can take a while to unwind. A LONG while.  There may even be several mini bull runs/short squeezes along the way, but ultimately the price ends up bottoming out way lower and all volume/volatility dies.

If the rally just started back up right now (4 days after the top), and buying volume suddenly increased out of the blue like what was seen in the last 6 weeks, and the price kept going beyond $500 to new highs, it would be a FIRST in the history of Bitcoin (and would break all long term patterns).  And it would also mean that some BIG reason/news was on the horizon, something only the insider traders know about 4-6 months in advance.  I kinda doubt we are at that place... at least not yet...

ya but i'm saying >32,000$ in <2years

if price does not surpass my expectations ( given a little more time than i predicted ) that too would be a first in bitcoin history.  

[ChartBuddy]

Coin

Explanation

[r0ach]

[adamstgBit]

what happens when 5 million bitcoin bulls says " i'll just hit the buy button with 500$ for the hell of it " and then realize they actually wanted to hit buy with 5000$???


were going to mars boys!

[Fatman3001]

what happens when 5 million bitcoin bulls says " i'll just hit the buy button with 500$ for the hell of it " and then realize they actually wanted to hit buy with 5000$???


were going to mars boys!

That looks more like Mars is crashing into the Earth.

[adamstgBit]

when your trading strategy depends on poeple being sensible and not greedy, you're fucked man.

[r0ach]

Woops, left out the macro wedge.  Looks like it's going to explode in one direction or another once the yellow wedge finishes.

[mrkavasaki]

next year we will probably see double digits

so sell from now might be not so stupid

[qwk]

That looks more like Mars is crashing into the Earth.

It also looks like the subsequent crash into Earth will no longer be a problem, since everyone's already been killed by huge tsunamis caused by Mars' gravitational influence at that point

[Fatman3001]

next year we will probably see double digits

so sell from now might be not so stupid

You mean double digits with a K behind?

[Fatman3001]

http://i.telegraph.co.uk/multimedia/archive/02445/mars_2445397b.jpg

That looks more like Mars is crashing into the Earth.

It also looks like the subsequent crash into Earth will no longer be a problem, since everyone's already been killed by huge tsunamis caused by Mars' gravitational influence at that point

Not me. I'll be ON A BOAT!!!

[aztecminer]

http://i.telegraph.co.uk/multimedia/archive/02445/mars_2445397b.jpg

That looks more like Mars is crashing into the Earth.

It also looks like the subsequent crash into Earth will no longer be a problem, since everyone's already been killed by huge tsunamis caused by Mars' gravitational influence at that point

Not me. I'll be ON A BOAT!!!

did you hear that everyone ?? its almost time to buy our boats.

[adamstgBit]

[ChartBuddy]

Coin

Explanation

[ssmc2]

The BTC market is unpredictable in the short term

My monkey says BTC goes down for two weeks more on a daily basis.  He thinks this is probably the start of a downtrend on a weekly basis as well.

Intraday, the monkey wants it to go down for 4 more hours before it turns up.

I agree about longer-term being more predictable in BTC, because my monkey has not done very well on the daily charts, but has generally done pretty well on the weekly charts, in the BTCUSD domain.

EDIT:  FYI, Monkey just flipped to bullish Intraday, expects another 3 hours of upside.

Hate to say it, but monkeys, rabbits, lions, humans- none of em know wtf is about to happen.

[r0ach]

Not me. I'll be ON A BOAT!!!

Monohull or catamaran

[empowering]

are we empowered?
 

[adamstgBit]

Hey bears, I'm with you, bitcoin is going to crash and burn.

all the way down to 340!!!