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

[JayJuanGee]

fun fact:

after the last big run-up&crash in nov. 2013 it took 14 months to fall even below prior ath. and that was including the mtgox desaster.

this time around it took not 620 weeks but only 1 week. (without any goxlike desater)

someone is trying to ruin trust in bitcoin BIGTIME

You are just making up shit.. for what purpose?  

We had a 3 month price run up from lower $600s to mid $1,100s, which is about a 90% price appreciation.

So far this has been about a 34% correction from the top.. and has not crossed below previous ATH of $266 nor has it even crossed it's starting point from only three months ago...

It's gotta get a lot worse than this before it rises to the level of some kind of disaster, as you seem to be implying..


Edit:  maybe you are referring to the price falling below $780?  still, that is a kind of artificial creation that you seem to be making in order to spread a kind of FUD... ... 

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[toknormal]

Here's a close-up of that "propellor" correction pattern I was referring to earlier.

2 of them compared. Now go back and see them in context of that other big chart and a somewhat informative picture starts to emerge.

[MinermanNC]

Now that's pretty cool lol interesting too 

[Killerpotleaf]

breaking 780 would be terrible

if we ALL buy now we might delay the inevitable  

and there is gose    

[sugarbaby]

Hey, I've just noticed a pattern that this crash fits into, but it's only visible at very long range. (You need a big screen preferably to see this - pull the browser page out wide if you can to grow the image to full size. Sorry I couldn't get the pattern very visible at small scale).

This correction may not be as bearish as we think and seems to fall into a "family" of profit taking moves associated with the rise that started back around July 2015.

It appears that every 7-8 months (every 4-5 months earlier in the rise) there's a big profit take like this which always happens at the top of a spike when the market gets ahead of itself. (I call them "propellor corrections" because they look like an aircraft propellor from side on since the price corrects to about the same distance below the trend line as the 'overheat' got above it). All the same there's a longer, underlying trend where the upwards revaluation grows steadily steeper, even despite these crashes along the way.

When the pressure-relief gasket blows on these bubbles it always corrects to just below the top of the previous propellor pattern. Same every time but increasing in size. Then there's a period of consolidation, followed by a slow rise, then steep rise and another gasket-blow.

Each time the correction gets bigger, but it still seems to stick to the rule of dropping to just below the last spike so that the growth trend isn't broken. I now think I'm not the only one to have noticed this and that big players are actively trading this pattern, watching for the overheat-spike and knowing exactly when to profit take, driving that bubble into full temporary reverse with shorts for maximum profit. But they also must know how far to take it because the last spike gives the reference level.

This one was perfectly timed - 7 months exactly.

Judging by its size and perfectly placed timing, we could be in for a very big rise over the next 8 months if the long term trend continues because the vertical distance between each "overheat" phase increases each time by about 60% to 70%.

Just sayin. Context is everything

Dis look gud... Better wait to choina and see how they will react in the 2nd day

[MinermanNC]

Watching this for almost 4 years now, I think its coming back soon... fan correction in play   probably a good time to pick up a coin or 2.

[Killerpotleaf]

Boeing 777
Wide-body jet airliner
The Boeing 777 is a family of long-range wide-body twin-engine jet airliners developed and manufactured by Boeing Commercial Airplanes. Wikipedia
Top speed: 950 km/h
Wingspan: 61 m
Cruise speed: 905 km/h
Introduced: June 7, 1995
Unit cost: 258,800,000–315,000,000 USD
Engine type: Turbofan

ALL ABOARD

[600watt]

fun fact:

after the last big run-up&crash in nov. 2013 it took 14 months to fall even below prior ath. and that was including the mtgox desaster.

this time around it took not 620 weeks but only 1 week. (without any goxlike desater)

someone is trying to ruin trust in bitcoin BIGTIME

You are just making up shit.. for what purpose?  

We had a 3 month price run up from lower $600s to mid $1,100s, which is about a 90% price appreciation.

So far this has been about a 34% correction from the top.. and has not crossed below previous ATH of $266 nor has it even crossed it's starting point from only three months ago...

It's gotta get a lot worse than this before it rises to the level of some kind of disaster, as you seem to be implying..


Edit:  maybe you are referring to the price falling below $780?  still, that is a kind of artificial creation that you seem to be making in order to spread a kind of FUD... ...  

yes, referring to that.
disappointment maybe. what i wrote is not made up but fact. i added fun fact to not make it sound to serious. because on the other hand we are still 2%1% up from last 30 days. oh, and i meant previous top not previous ath. thanks for pointing that out, with "previous ath" it really sounds like fud. sry.
i did not imply to spread fud.

[BayAreaCoins]

fun fact:

after the last big run-up&crash in nov. 2013 it took 14 months to fall even below prior top. and that was including the mtgox desaster.

this time around it took not 620 weeks but only 1 week. (without any goxlike desater)

someone is trying to ruin trust in bitcoin BIGTIME


edit: meant to write "top"
this is not trying to spread fud. keep calm....  oh.wait...  

Tis interesting and I kind of agree.

Hopefully it has the reverse reflect, but time will tell. 

This market move moment shook a LOT of folks playing either way with leverage trading.

[uhoh]

Here comes the new daily low

[DaRude]

Is BTC dead? again

[MinermanNC]

Bit of a free fall at the moment   opportunity knocks lol

[ImI]

Bullrun is over for now. Guess consolidation well into 2017 is now on schedule.

Bottom line: PBOC still seems to have alot of power in cryptoland. "Ban Bitcoin!" Still works.

[MinermanNC]

Maybe this is all Fake News about China and banks... designed to drive down price, buy cheap, and drive price back up by saying China Bank is ok with Bitcoin  

[toknormal]

PBOC still seems to have alot of power in cryptoland. "Ban Bitcoin!" Still works.

https://www.youtube.com/watch?v=Ry6PpRXk0dQ

[Killerpotleaf]

Maybe this is all Fake News about China and banks... designed to drive down price, buy cheap, and drive price back up by saying China Bank is ok with Bitcoin  

the dump was done as the daily candle changed

manipulation  

not to mention they just flat out hammered a pump the second after it was done. 

[MinermanNC]

We may be hitting bottom? I sure hope so! Time to pay the electric bill soon 

[MinermanNC]

Maybe this is all Fake News about China and banks... designed to drive down price, buy cheap, and drive price back up by saying China Bank is ok with Bitcoin  

the dump was done as the daily candle changed

manipulation  

not to mention they just flat out hammered a pump the second after it was done. 

Seems every time there is a big dip, its always something with China and the PBOC.... we got to get off that train someday 

[Morgenst3rn]

Broke through 800 $, broke through 770 $,
what's the next artificial & magical barrier from where on we can expect a magic turnaround & the next moon moment?

[alphahacktivist]

Maybe this is all Fake News about China and banks... designed to drive down price, buy cheap, and drive price back up by saying China Bank is ok with Bitcoin  

the dump was done as the daily candle changed

manipulation  

exactly i have not slept past 20 hours. continuous watching of the graphs from all exchangers on different screen. it seems that only huobi graph is manipulating everywhere. this graph used to be the highest now its the source of freefall. its interresting to know how many people are still holding and how many have abandoned the ship. i feel a major part of " i am still hodling" posts are mostly people who have sold and are now praying for a rise. r people who are so stressed that they dont have any nails left to bite.

there is a huge manipulation from huobi. i am guessing like someone pointed out earlier that they are crashing the market so that their activities look " on point" which also means they have manipulated a lot of the pump and dump recently.

the chineese regulation is certainly something to watch but i feel we are in a "bubble bust" once again and this time it will take a lot of time to recover back not even to the ATH but to stable $800 - $900.. forget about crossing $1000. the way the graph is appearing right now does not show a sign of correction and not even something stable for a few days. every 6 to 10 hours there is a $60-100 drop in the price..

all we can do is wait and watch. and all i can say to those who bought higher is to remember that we have seen fall and rise. just hold on your coins and dont panic sell, it will make the market more frenzy and crash more. i am holding 10,000 bitcoins currently, (which i can sign a few 500-1000 btc addresses to prove that i am still holding and not selling or panicking)

its high time we take the market away from the chineese manipulators.

let the revolution begin.