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

[SnokkomBTC]

Chinese exchanges are dead @ bitcoinwisdom

[soullyG]

Chinese exchanges are dead @ bitcoinwisdom

Looks like Huobi is down but OKCoin working fine for me:

https://bitcoinwisdom.com/markets/okcoin/btccny

[molecular]

Someone is trying to stop this rally:



https://bitcoinwisdom.com/markets/okcoin/btccny

It will not work.

[Torque]

Chinese exchanges are dead @ bitcoinwisdom

Hmmm... wonder if those exchanges finally put circuit breakers in, would be awesome.

[Tzupy]

Someone is trying to stop this rally:



https://bitcoinwisdom.com/markets/okcoin/btccny

It will not work.

I believe it will work, just wait another 12 hours. If I'm right, this was just a tiny dump, a larger one should follow in about 12 hours.

[molecular]

Someone is trying to stop this rally:



https://bitcoinwisdom.com/markets/okcoin/btccny

It will not work.

I believe it will work, just wait another 12 hours. If I'm right, this was just a tiny dump, a larger one should follow in about 12 hours.

It's possible, but I doubt it.

A large one *will* follow, but it's not time yet.

How large do you think?

[savetherainforest]

Chinese exchanges are dead @ bitcoinwisdom

Hmmm... wonder if those exchanges finally put circuit breakers in, would be awesome.

My evil inner self smiled to that thought...  

[TaurusBit]

Someone is trying to stop this rally:



https://bitcoinwisdom.com/markets/okcoin/btccny

It will not work.

I believe it will work, just wait another 12 hours. If I'm right, this was just a tiny dump, a larger one should follow in about 12 hours.

LOL some people never stop being bearish.
To me, it just looks like profit taking. If you watch at larger timeframes like 4h we're green again.

[Tzupy]

Someone is trying to stop this rally:



https://bitcoinwisdom.com/markets/okcoin/btccny

It will not work.

I believe it will work, just wait another 12 hours. If I'm right, this was just a tiny dump, a larger one should follow in about 12 hours.

It's possible, but I doubt it.

A large one *will* follow, but it's not time yet.

How large do you think?

About 3x the amplitude of this small dump, if the bearish scenario is favored, we'll see soon...

[savetherainforest]

All steam ahead!!!  


https://i.imgur.com/x6HU4uF.gifv



https://i.imgur.com/3sQBvQz.gif

[HI-TEC99]

Someone is trying to stop this rally:



https://bitcoinwisdom.com/markets/okcoin/btccny

It will not work.

I believe it will work, just wait another 12 hours. If I'm right, this was just a tiny dump, a larger one should follow in about 12 hours.

But you predicted a pump to about 1100$ on New Year's day. You got up early for it, but it took another four days to go that high. What makes you think you can be so accurate today when your New Years's day prediction was out by four days?

I am expecting, in a couple of hours, the last pump of this rally, taking us to about 1100$, spending a couple of days there before crashing 40%.
To be sure of catching it, I had to wake up early on the 1st January, grrr...

If it does crash I think it will be a small correction, not a 40% correction. It could carry on up past the Gox ATH without many downs.

[becoin]

Just another example of someone "dumbing" their bitcoins...
Now dumpber can't buy their bitcoins back at the level they sold out.
The result: expect $1150 within 48 hours!

[Chainsaw]

Actually, I was probably the only sane person posting today, which is sad...
The top was near, and now it's profit taking time, who dumps first dumps best.

It's hard to be the bear when everyone else is bullish - thanks for your analysis.

Trying to figure out if we break at this China ATH test, consider:

We have been in a relative long-term ascending wedge - it began 12/20 and we have held within it since.
Typically, ascending wedges break to the downside.
This 2 week pattern broke to the upside last night, against convention.
Last time there was a ~2 week pattern, it was an ascending wedge, and Bitcoin 'broke convention' and broke to the upside.



During rallies, Bitcoin likes to flip into anti-pattern mode for resolution.
It's a cost-benefit thing.
To use a simple anecdote we share, I watched Dissi go from 1st to middle-of-the-pack in bit-sim.trade by making the wrong call about a top, earlier.  I did the same.

When I put the pieces together from a technical standpoint, they tell me we should go down.
When I consider the historical precedent of Bitcoin in similar position in the past...it has chosen exactly these scenarios to defy expectations.

Good luck!

EDIT: I note in the 1m chart that the wedge has since served as a support line (1060.6, 'Finex).

[ErisDiscordia]

Actually, I was probably the only sane person posting today, which is sad...
The top was near, and now it's profit taking time, who dumps first dumps best.

It's hard to be the bear when everyone else is bullish - thanks for your analysis.

Trying to figure out if we break at this China ATH test, consider:

We have been in a relative long-term ascending wedge - it began 12/20 and we have held within it since.
Typically, ascending wedges break to the downside.
This 2 week pattern broke to the upside last night, against convention.
Last time there was a ~2 week pattern, it was an ascending wedge, and Bitcoin 'broke convention' and broke to the upside.



During rallies, Bitcoin likes to flip into anti-pattern mode for resolution.
It's a cost-benefit thing.
To use a simple anecdote we share, I watched Dissi go from 1st to middle-of-the-pack in bit-sim.trade by making the wrong call about a top, earlier.  I did the same.

When I put the pieces together from a technical standpoint, they tell me we should go down.
When I consider the historical precedent of Bitcoin in similar position in the past...it has chosen exactly these scenarios to defy expectations.

Good luck!

Spot-on analysis, Chainsaw!

[Chainsaw]

Spot-on analysis, Chainsaw!

Thanks! We'll see, I guess 

[Tzupy]

Someone is trying to stop this rally:



https://bitcoinwisdom.com/markets/okcoin/btccny

It will not work.

I believe it will work, just wait another 12 hours. If I'm right, this was just a tiny dump, a larger one should follow in about 12 hours.

But you predicted a pump to about 1100$ on New Year's day. You got up early for it, but it took another four days to go that high. What makes you think you can be so accurate today when your New Years's day prediction was out by four days?

I am expecting, in a couple of hours, the last pump of this rally, taking us to about 1100$, spending a couple of days there before crashing 40%.
To be sure of catching it, I had to wake up early on the 1st January, grrr...

If it does crash I think it will be a small correction, not a 40% correction. It could carry on up past the Gox ATH without many downs.

When I predicted the last pump to about 1100$ I didn't claim it would happen in 1 day (or other time frame), so I wasn't "out by four days".
If the next larger dump will happen in about 12 hours, then I expect the Chinese to build a large triangle that should break, probably down, in another 4 - 5 days.
And the 40% correction is the whole ABC, the A and C should be each about 30%.

[razorramon]

we are in historic territory and it very much looks like we will see a new ATH very soon...

funds at bfx are compared to scenarios in the past very bearish (which is actually VERY bullish in my opinion)

whatever will happen, it is very exciting and everybody who is into bitcoin should feel very lucky

[Ted E. Bare]

Who sold at the bottom?

[Fakhoury]

Here we go again... $1050USD at Bitcoinaverage. That's $1410CAD. another new ATH.

Yahoo.

Do you really feel it brother ?

I don't know why we don't feel it amazing anymore :S !!

Oh yes, I feel it.

I don't find it amazing though because I expected this.

I find it satisfying to finally get some concrete returns on my unfaltering belief in the future of Bitcoin.

We bulls took a fair bit of flak back in 2014-5 while the bears had their little picnic, but some of us knew what was coming, held steadfastly during the down times, bought more coins as the prices fell, and even laughed at the cock-sureness of the bears (remember Karhu?) as we accumulated.

The teddy bears had their little picnic (see them gaily gad about) back then, but look who's partying now.

Cheers bro. You were always a fearless bull, never wimped out and became a bear. Enjoy the time.

Thanks for your kind words brother.

Maybe because I want to see and expecting as well $3k-$4k ?

The returns so far is satisfying as you said, but maybe I know so well that Bitcoin is till extremely undervalued ?

I dunno tbh.

[Actualiteit]

tbh I'm happy someone pulled the brakes a little bit. I understand a lot of people want to go full sonic "gotta go fast" on this bullrun but I'd rather see an easygoing constant rise without the insane volatility, panic and hysteria that results from it.