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

[PoolMinor]

C&H ?

In order to c+h we'll need an "H" this means a sharp dip. I have forecasted with another (through pm) on this forum about just that. Then a few hours later someone else posted in this thread corroborating what I sent this other person in a PM.

I highly doubt we will retrace at 40% !!!!

I guess we had a retrace of 37% sorry about that 3%.

Working on the handle now.....

[eddie13]

About 65.000 unconfirmed transaction, this will be interesting.



https://blockchain.info/unconfirmed-transactions

so, what are we thinking about it?

Just how forked am I having sent like 12 hours ago with 10k sat fee and still unconfirmed?

[JayJuanGee]

With the volatility back, I keep going back in forth in my head if I should pull out my initial investment, and just hold the rest so it is all "house money."   Then potentially buy back if it dips further, but I hate selling coins

I have a side bet with a buddy on it hitting new ATH by Super Bowl Sunday.  

If you are feeling that much too invested then you should pull out some, but personally it does not seem to be a good idea to pull out during a retrace.. instead you pull out as the price is going up or as it is returning to go up.... but if you think that it going to continue to go down from here, then maybe you pull out 1/3 of your initial investment at this particular price, so that you do not feel as overinvested in case it goes down from here.

 

[JayJuanGee]

what do you think about  for about 55000 unconfirmed transactions ?

is this a spamming to blockchain again?

https://blockchain.info/unconfirmed-transactions

I had noticed this spamming of the blockchain, too, and it could be an opportunity for another bullrun pumping - meaning that whatever BTC are there, on the exchanges, are there, and you cannot really move BTC very quickly (as is usual).

[jofus]

It seems to me that if we were in the midst of a giant bubble, this dip would be expected.  Why are so many people freaking out, talking about the rally being done?

I think most of the nay saying must be disingenuous.

[Fakhoury]

C&H ?

In order to c+h we'll need an "H" this means a sharp dip. I have forecasted with another (through pm) on this forum about just that. Then a few hours later someone else posted in this thread corroborating what I sent this other person in a PM.

I highly doubt we will retrace at 40% !!!!

I guess we had a retrace of 37% sorry about that 3%.

Working on the handle now.....

I just was afraid of that 40% tbh, I thought we are going to the $600's.

Based on your analysis brother, when will the handle end to continue the rally ?

Edit : Don't you think that the handle is nearly formed ?

If you don't mind, could you elaborate for me on the chart the C&H formation, thanks in advance 

[eddie13]

fees mooning


56k unconfirmed and counting with 51.51254117 BTC of included fees waiting to be mined..

That is an average of people including over 100k sat fee per transaction..

[JayJuanGee]

Oh I thought its first major correction is on February. So this means no more bigger setbacks next month then. 

Yeah, there are all kinds of theories out there and none of them are set in stone, they are just probabilities based on various events and circumstances and context.

We have not had any major correction, yet.  So February could definitely play out as a month in which a major correction does occur... .. wow.. it does seem that we are in a pretty decent position for such February major correction theory to play out, especially given our current context with today's megadump and quickie 20% plus correction carnage

[Killerpotleaf]

1 more leg down, maybe
2 more legs up, definitely

[eddie13]

Average fee per TX in last block is about 350k sat each..

[Killerpotleaf]

Breaks up or down?

What does the squiggly line indicator at the bottom of the chart say it's going to do? Does the Ronald big Mac Donald indicator contradict the squiggly line indicator?

Think it means that anything can happen - I dont know if we are in a bull or a bear right now, so just holding tight =)

you have to put the squiggly line indicator in context to give it meaning.

- assuming we are in a bear trap.
- squiggly line indicator signals the bear trap will soon close!
- there is NO possibility that it will break down, 0 nil none.

there you go.

I use chicken bones, they're pretty good indictator - they tell me anything can happen. Usually.  Very reliable.

lmao

[Killerpotleaf]

>1000$ <45mins 

[eddie13]

Breaks up or down?

What does the squiggly line indicator at the bottom of the chart say it's going to do? Does the Ronald big Mac Donald indicator contradict the squiggly line indicator?

Think it means that anything can happen - I dont know if we are in a bull or a bear right now, so just holding tight =)

you have to put the squiggly line indicator in context to give it meaning.

- assuming we are in a bear trap.
- squiggly line indicator signals the bear trap will soon close!
- there is NO possibility that it will break down, 0 nil none.

there you go.

I use chicken bones, they're pretty good indictator - they tell me anything can happen. Usually.  Very reliable.

lmao

Looking positive but very cautious..

[JayJuanGee]

>1000$ <45mins 

Fuck Adam.. I don't know if I believe you about the greater than $1k thingie magigie in less then 45ms. 

I think that your statement, in order to be credible, has to be confirmed.

[Killerpotleaf]

>1000$ <45mins 

Fuck Adam.. I don't know if I believe you about the greater than $1k thingie magigie in less then 45ms. 

I think that your statement, in order to be credible, has to be confirmed.

only the market can confrim or deny my unbelievably specific / accurate predictions speculations

40 mins now
tic toc
time it

[AlexGR]

Average fee per TX in last block is about 350k sat each..

Average should include those who overshoot it because they are lazy to calculate it - it's not a requirement.

https://bitcoinfees.21.co/

The fastest and cheapest transaction fee is currently 100 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 22,600 satoshis (0.17$).

Pretty much the same as yesterday.

[AlexGR]

Always been confused by this and maybe someone can help.

How will bitcoin get to a high price if it can't do big jumps in price?

Surely slow and steady will take us tens and tens of years.

How can 10k (for example) be even remotely realistic any time soon?

Not trolling, just wondering your thoughts.

This is a good question, one that I have been thinking about.

Vinny Lingham predicts a slow and steady rise to 2k-3k during 2017. His judgement seems as good as anyone's to me. But I agree there's no way in hell we're gonna go slow and steady to 100k, or even 10k. And yes I'm thinking in log axis. Suppose price multiplies by 2.5 x per year. Five years of that would get us to 100k. But can you imagine that actually happening? Once that pattern establishes itself, someone who thinks in terms of years is gonna try to frontrun it and will be willing to buy at a premium, short term traders will see that happening, the price will go parabolic, everyone will know it's day traders responsible for the short term parabolic rise and will try to front-run them cashing out, big crash, and there you have it. So if it's truly going to the moon, I think it's safe to assume that it will be a volatile ride all the way to the top.

Hmm, that gives me an idea on how to model the magnitude of the swings. If you knew how many speculators there are (in terms of how much capital they are working with) and what time frames they are working in (long term investors or "long-termers," minute to minute day traders of "short-termers," and everything in between), and the first people to go long are the long-termers and the last to go long are the short term day traders, with the in between being the in between, then the parabolic rise ends when the progression from long termers to short termers runs out.

I've been thinking about this too. The moment the market becomes predictable ("it will go to 2k-4k-10k"), it's the exact same moment that someone can front run the legitimate non leveraged buyers - making their purchases much harder (while the leveraged trader gets all the money). From that perspective, some uncertainty with periodic dips is a good thing.

[JayJuanGee]

Speaking of walls, anyone notice the wall of bids to purchase 2208 BTC on Bitstamp at $890.  That is $1.965 million.

We cannot be asserting that Bitstamp is running out of fiat, can we?

[JayJuanGee]

>1000$ <45mins 

Fuck Adam.. I don't know if I believe you about the greater than $1k thingie magigie in less then 45ms. 

I think that your statement, in order to be credible, has to be confirmed.

only the market can confrim or deny my unbelievably specific / accurate predictions speculations

40 mins now
tic toc
time it

Hahahahaha..

Were goes your irresolute and steadfast confidence? 

I thought that you would just respond to me with a one word answer that starts with a "c".   hahahahhahaa   

[kurious]

Signs of life...?

Chicken bones say anything can happen.  But watch out for a possible W bottom (seen in the bones) before the real rise back up again....

We need to see strength and a volume rise.  Careful out there, eh?