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

[klondike_bar]

I will admit that I am quite surprised by our current state of bitcoin.. because if you look back at my posts, I was continuing to say that I expected a pretty decent probabilistic chance of a price correction sometime after lower $600s either before reaching the mid $800s or even more probabilistically before reaching $900... and I will admit that I have been proven wrong, or at least BTC prices went into an area that I considered to be less probabilistic (more bullish).

I also said on several occasions, once we pass mid to upper $800s, that we are likely to go  straight (more or less) into the $3k to $5k price territory.  Since we got from lower $600 to lower $900s without any meaningful correction, I am now thinking that it is going to be a bit more difficult to get into the $3k to $5k price territory without a meaningful price correction.  I am going to have to revise my thinking.. so at this time, I am thinking maybe tentatively that if we do not get a meaningful correction before passing old ATH ($1163), then probably our top for this run would be in the $1,900 to $3,500 arena)..

bitcoin doesnt like to do any serious retraces when its in bull mode.

IMO, crossing $940-960 this week would lead to an ATH, and perhaps a peak of 1300-2600. Its pretty bullish, and im not doing any leverage (just HODL), but i dont expect it to peak beyond $2600 (in this rally), and a rally to those levels would probably crash back down to the 900-1200 range for many more months of recovery and profit taking

im trying not to go full bull and leverage my holdings - weve seen in the past that it doesnt take much to make it rally or crash irrationally at the drop of a hat (or attack of the bearwhale)

[noobtrader]

Hi everyone... Christmas season is a full of magic, gifts, carols and joyous celebration. Have the best Christmas ever by having BTC price reaching 1000usd.  

hahahahaha

It's the "legendary" noobtrader spreading wisdom.

You need to petition the PTB to allow yourself a name change... just request to have a NOT added somewhere in your name (front, middle or back).

 

nah... i like my name,  dont you think Legendary noobtrader sounds cool ?  

[TaurusBit]

[http://imagizer.imageshack.us/a/img922/382/Rft8of.png[/img]

Monday is coming ... [http://imagizer.imageshack.us/a/img923/9918/L6LLq0.gif[/img]

I'm not sure what "Monday" means, exactly.

Lots of western banks will be closed on Monday, no?

So, what is the significance of this coming Monday (tomorrow)?

Tomorrow's gonna be a business day in China.. Rings a bell?

[PoolMinor]

3K BTC @ $920 sell wall on Bfinex

Wow!!!!!!!!


I see that.

3639 BTC, when I just looked at it, just now (that's about $3.35 million).

For those folks who don't believe in walls, that is definitely a decent sized wall.

What do we believe is going to happen in the coming hours?

Bought into?

Pulled?

Scare off buyers and encourage sellers to drive down the price?

Or some combination of the above?


(Edit:  It's already gone and down to 664 coins).. so someone is showing that they are in control of 3k coins by flashing the wall... Are they willing to sell them?  That may be another story.  But flashing could be enough of a message to show that at least one bear whale is not running out of coins any time soon.

Generally the wall is placed and pulled so that when new asks are added to the existing wall, the "whale" can make sure his coins are the last to be bought at that price. This is why you see it and then you don't, it reappears and disappears quickly.

The purpose of the walls are to either drive the price down (in this case) or, in a bid wall -- drive the price up. By placing a wall, the public sees an opportunity to move their asking price lower as to be first in the sale. When a bid wall is placed it shows strong support for a future purchase, which in turn gathers anxious buyers to place bids above that wall. When the wall placer gets enough fish above or below their wall, the wall is pulled and either bought into (sell wall) or sold into (bid wall).

https://bitcointalk.org/index.php?topic=1512965.msg15222331#msg15222331

[JayJuanGee]

Hi everyone... Christmas season is a full of magic, gifts, carols and joyous celebration. Have the best Christmas ever by having BTC price reaching 1000usd.  

hahahahaha

It's the "legendary" noobtrader spreading wisdom.

You need to petition the PTB to allow yourself a name change... just request to have a NOT added somewhere in your name (front, middle or back).

 

nah... i like my name,  dont you think Legendary noobtrader sounds cool ?  

The name has a kind of ironic twist.

[the artful bodger]

I will admit that I am quite surprised by our current state of bitcoin.. because if you look back at my posts, I was continuing to say that I expected a pretty decent probabilistic chance of a price correction sometime after lower $600s either before reaching the mid $800s or even more probabilistically before reaching $900... and I will admit that I have been proven wrong, or at least BTC prices went into an area that I considered to be less probabilistic (more bullish).

I also said on several occasions, once we pass mid to upper $800s, that we are likely to go  straight (more or less) into the $3k to $5k price territory.  Since we got from lower $600 to lower $900s without any meaningful correction, I am now thinking that it is going to be a bit more difficult to get into the $3k to $5k price territory without a meaningful price correction.  I am going to have to revise my thinking.. so at this time, I am thinking maybe tentatively that if we do not get a meaningful correction before passing old ATH ($1163), then probably our top for this run would be in the $1,900 to $3,500 arena)..

bitcoin doesnt like to do any serious retraces when its in bull mode.

IMO, crossing $940-960 this week would lead to an ATH, and perhaps a peak of 1300-2600. Its pretty bullish, and im not doing any leverage (just HODL), but i dont expect it to peak beyond $2600 (in this rally), and a rally to those levels would probably crash back down to the 900-1200 range for many more months of recovery and profit taking

im trying not to go full bull and leverage my holdings - weve seen in the past that it doesnt take much to make it rally or crash irrationally at the drop of a hat (or attack of the bearwhale)

The last week running up to the last ATH had irrational ups and downs that must have margin called some leveraged traders. HODLing is safer and less stressful.

[JayJuanGee]

I will admit that I am quite surprised by our current state of bitcoin.. because if you look back at my posts, I was continuing to say that I expected a pretty decent probabilistic chance of a price correction sometime after lower $600s either before reaching the mid $800s or even more probabilistically before reaching $900... and I will admit that I have been proven wrong, or at least BTC prices went into an area that I considered to be less probabilistic (more bullish).

I also said on several occasions, once we pass mid to upper $800s, that we are likely to go  straight (more or less) into the $3k to $5k price territory.  Since we got from lower $600 to lower $900s without any meaningful correction, I am now thinking that it is going to be a bit more difficult to get into the $3k to $5k price territory without a meaningful price correction.  I am going to have to revise my thinking.. so at this time, I am thinking maybe tentatively that if we do not get a meaningful correction before passing old ATH ($1163), then probably our top for this run would be in the $1,900 to $3,500 arena)..

bitcoin doesnt like to do any serious retraces when its in bull mode.

IMO, crossing $940-960 this week would lead to an ATH, and perhaps a peak of 1300-2600. Its pretty bullish, and im not doing any leverage (just HODL), but i dont expect it to peak beyond $2600 (in this rally), and a rally to those levels would probably crash back down to the 900-1200 range for many more months of recovery and profit taking

im trying not to go full bull and leverage my holdings - weve seen in the past that it doesnt take much to make it rally or crash irrationally at the drop of a hat (or attack of the bearwhale)

The last week running up to the last ATH had irrational ups and downs that must have margin called some leveraged traders. HODLing is safer and less stressful.

I agree with at least three inferred statements from the two response posts: 1) a bitcoin bull run will likely have a lot of exponential upside without significant periods of correction (and any correction is not a necessary condition in order to experience additional exponential upside), 2) in any exponential upside trend, there could be some short periods of price correction, such as bear traps (accordingly we should prepare for such possibilities) and 3) it is not necessary to employ leveraging in order to make a lot of money with bitcoin as long as you maintain a kind of long term position to attempt to accumulate bitcoin and to HODL through various corrections (whether small, large, anticipated or not).

[spooderman]

in my experience the dumps tell you a lot more than the pumps.

we hardly retraced at all so my estimation still holds. i think we'll hang around the sub $1k range for a week or two more then shoot up to $3k+.

[spooderman]

the chance to buy sub $1k is evaporating the way the chance to by for less than $100 did in 2013.

[machasm]

Xmas over and time to resume the bull run.
Nice.

[hulla]

Xmas correction to 860$ and then rocket goes to moon?

Is not even $860. It was $800 and now the price it going $900 cos the current price is $899. Rocket does go to the moon

I hope it comes back to $800 for some time, I'm prepared to purchase more of bitcoins for $800, but not for more than that.

Bitcoin is sustaining the price of $899-$900 today by the way.

The prediction says the price will rise above $1000 next year. So, I think you're a lil late for that. Though the current price is $888 and that because of the Christmas holiday.

See, it was $900 yesterday, today it is $867, I still think that it is going to calm down for a day, before even the new year, will go down to somewhat like $800-$825 before January. That'll be the best time to get some more of it.

Yes,it will calm down due to the holiday but it won't settle down at the price of $800-$825 and if you said $850 I will say you're correct. But at the price of $800-$825? Nah

[S3052]

Xmas correction to 860$ and then rocket goes to moon?

Is not even $860. It was $800 and now the price it going $900 cos the current price is $899. Rocket does go to the moon

I hope it comes back to $800 for some time, I'm prepared to purchase more of bitcoins for $800, but not for more than that.

Bitcoin is sustaining the price of $899-$900 today by the way.

The prediction says the price will rise above $1000 next year. So, I think you're a lil late for that. Though the current price is $888 and that because of the Christmas holiday.

See, it was $900 yesterday, today it is $867, I still think that it is going to calm down for a day, before even the new year, will go down to somewhat like $800-$825 before January. That'll be the best time to get some more of it.

Yes,it will calm down due to the holiday but it won't settle down at the price of $800-$825 and if you said $850 I will say you're correct. But at the price of $800-$825? Nah

prices remain bullish as discussed in our bullbear analytics forecast

[Hyperjacked]

the chance to buy sub $1k is evaporating the way the chance to by for less than $100 did in 2013.

It is starting to feel like 2013...

Anyone see Brian Kelly on fast money...? "Blockchain technology bigger than the INTERNET!"  

https://mobile.twitter.com/maguraaa/status/812433256666845184

2017 will be the year of the blockchain...buckle up!

Cheers bitcoinland

[JimboToronto]

A late good morning Bitcoinland and happy boxing day.

I see the little Xmas eve dip was just a bear trap and Xmas day brought us back up to where we were, consolidating around $900 preparing for the next leg up... presently at $905 according to Bitcoinaverage.

We still have 5 days left in what has been a very good year so far and we're only $32CAD shy of a new ATH. At one point on Friday we were within $6.

While the late December rally may have slowed down, I feel it's far from dead. Let's finish the year off with a flourish.
_______

Time to see what's left of the boxing day bargains, but first some mocha-java. Still have some postprandial single-malt cobwebs in my brain.

[Karartma1]

the chance to buy sub $1k is evaporating the way the chance to by for less than $100 did in 2013.

It is starting to feel like 2013...

Anyone see Brian Kelly on fast money...? "Blockchain technology bigger than the INTERNET!"  

https://mobile.twitter.com/maguraaa/status/812433256666845184

2017 will be the year of the blockchain...buckle up!

Cheers bitcoinland

Whatever goes under the name of "blockchain" technology is still unripe. Companies are rushing into everything blockchain. The only thing that works in the blockchain world is, of course, Bitcoin!!!BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC

So please don't get fooled by that. It's still a long way to the top

[hulla]

Xmas correction to 860$ and then rocket goes to moon?

Is not even $860. It was $800 and now the price it going $900 cos the current price is $899. Rocket does go to the moon

I hope it comes back to $800 for some time, I'm prepared to purchase more of bitcoins for $800, but not for more than that.

Bitcoin is sustaining the price of $899-$900 today by the way.

The prediction says the price will rise above $1000 next year. So, I think you're a lil late for that. Though the current price is $888 and that because of the Christmas holiday.

See, it was $900 yesterday, today it is $867, I still think that it is going to calm down for a day, before even the new year, will go down to somewhat like $800-$825 before January. That'll be the best time to get some more of it.

Yes,it will calm down due to the holiday but it won't settle down at the price of $800-$825 and if you said $850 I will say you're correct. But at the price of $800-$825? Nah

prices remain bullish as discussed in our bullbear analytics forecast

Hmm. That's cute and the prediction was absolutely right cos bitcoin does have a sharp increase in price and the current price now is $901 Who was the so call bullbear?

[notme]

Xmas correction to 860$ and then rocket goes to moon?

Is not even $860. It was $800 and now the price it going $900 cos the current price is $899. Rocket does go to the moon

I hope it comes back to $800 for some time, I'm prepared to purchase more of bitcoins for $800, but not for more than that.

Bitcoin is sustaining the price of $899-$900 today by the way.

The prediction says the price will rise above $1000 next year. So, I think you're a lil late for that. Though the current price is $888 and that because of the Christmas holiday.

See, it was $900 yesterday, today it is $867, I still think that it is going to calm down for a day, before even the new year, will go down to somewhat like $800-$825 before January. That'll be the best time to get some more of it.

Yes,it will calm down due to the holiday but it won't settle down at the price of $800-$825 and if you said $850 I will say you're correct. But at the price of $800-$825? Nah

prices remain bullish as discussed in our bullbear analytics forecast

Hmm. That's cute and the prediction was absolutely right cos bitcoin does have a sharp increase in price and the current price now is $901 Who was the so call bullbear?

He runs a subscription service that he advertises every chance he gets.  If you would like to pay someone to tell you how to feel about the charts, he's your guy.

[Hyperjacked]

the chance to buy sub $1k is evaporating the way the chance to by for less than $100 did in 2013.

It is starting to feel like 2013...

Anyone see Brian Kelly on fast money...? "Blockchain technology bigger than the INTERNET!"  

https://mobile.twitter.com/maguraaa/status/812433256666845184

2017 will be the year of the blockchain...buckle up!

Cheers bitcoinland

Whatever goes under the name of "blockchain" technology is still unripe. Companies are rushing into everything blockchain. The only thing that works in the blockchain world is, of course, Bitcoin!!!BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC

So please don't get fooled by that. It's still a long way to the top

Don't mistake me for someone that would get fooled...cream always rises to the top!

[boyshx]

Literally the only thing holding the price up is the Huobi bot buying "btc" with fake CNY

i have never understand the huobi bot thing, would you please explain?

[orpington]

Literally the only thing holding the price up is the Huobi bot buying "btc" with fake CNY

Where can I buy a Huobi bot?