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

[Searing]

anyone got any LEGIT TA for us?

For Bitcoin? No.

The technical analysts just say that if the price falls, it will fall a lot more. If it rises, it will rise a lot more.
In stocks and shares there are traditional ideas that fit to established TA, but in Crypto we just draw straight lines on a log scale and say that the price will be something unrealistic in the near future.

lol

nailed it!

[JayJuanGee]

anyone got any LEGIT TA for us?

For Bitcoin? No.

The technical analysts just say that if the price falls, it will fall a lot more. If it rises, it will rise a lot more.
In stocks and shares there are traditional ideas that fit to established TA, but in Crypto we just draw straight lines on a log scale and say that the price will be something unrealistic in the near future.

I am not much of a subscriber to TA, either, yet sometimes there can be some good contributions through TA.

On the other hand, I do agree with your assertion that bitcoin has a tendency to overshoot.

I don't necessarily think that you can use the same analyses with other cryptos as you do with bitcoin because a lot of other cryptos are either smaller market cap or more centralized than bitcoin..

And this thread is about bitcoin, anyhow, and who really gives a ratt's ass about the other cryptos, except maybe to the extent that there may be some direct relationship with bitcoin?

[yonton]

Wow it's going up fast what's going on?

[PoolMinor]

Wow it's going up fast what's going on?

People are buying

https://bfxdata.com/positions/btcusd

[notme]

Wow it's going up fast what's going on?

People are buying

And people aren't selling.

[PoolMinor]

Wow it's going up fast what's going on?

People are buying

And people aren't selling.

Actually they are, that's how the people buy in the first place.....

[spooderman]

Wow it's going up fast what's going on?

People are buying

And people aren't selling.

Actually they are, that's how the people buy in the first place.....

every time.

[notme]

Wow it's going up fast what's going on?

People are buying

And people aren't selling.

Actually they are, that's how the people buy in the first place.....

For price to move up, there has to be more buyers at the current price than sellers.

[600watt]

the panic sellers that didn´t want to slide down in agony with their live savings a second time around after nov.2013 are now getting the FOMO. some of them may have left btc for good, but most of them were just scared. they will jump back the closer it gets to their prior sell level.

because for a bitcoiner it is painful to see a 30% drop in price. but it is much more pain to even lose some btc when it rises again , and they haven´t bought back in.

so expect more of those 5% upward jumps. fuck yeah.


edit: $870/Y6000 will be resistance for a while, tough.

edit2: it was resistance for about 3 minutes, lol

[PoolMinor]

Wow it's going up fast what's going on?

People are buying

And fewer people are n't selling.

FTFY

[notme]

Wow it's going up fast what's going on?

People are buying

And fewer people are n't selling.

FTFY

Thank you for your pedantic lesson on market mechanics.  Can we get back to posting rockets and trains now?

[harrymmmm]

Wow it's going up fast what's going on?

People are buying

And people aren't selling.

Actually they are, that's how the people buy in the first place.....

For price to move up, there has to be more buyers at the current price than sellers.

This isn't even the right way to state it. There's still the same number of sellers as buyers, right?

Maybe the right way to state it is to say that the buyers are willing to cross the spread to buy, while the sellers are not...

[yonton]

Are margins back on Chinese exchanges?

[notme]

[PoolMinor]

Wow it's going up fast what's going on?

People are buying

And fewer people are n't selling.

FTFY

Thank you for your pedantic lesson on market mechanics.  Can we get back to posting rockets and trains now?

[600watt]

is it december all over again? wtf?


edit:
i promised myself to be humble when there is another rise. not to flip out. not to laugh about bears. not to brag about my virtual gains.

but ... but ...

hard to humble.


edited 20x 

[mymenace]

top out about 1000-1050

dropping to 750-800

averaging out about the magical $888 signifying the Chinese triple fortune numerology conspiracy theory

for rocket ships and moons to start appearing

close enough

moons and rockets please

[Gillette]

I wonder if Tzupy bear is still waiting for $600? 

[mainpmf]

is it december all over again? wtf?


edit:
i promised myself to be humble when there is another rise. not to flip out. not to laugh about bears. not to brag about my virtual gains.

but ... but ...

hard to humble.


edited 20x 

Is that christmas again?

I love waking up seeing I'm 10% richer than when I went to sleep.
And this, my friend, is the magic of bitcoin.
All pray the yellow coin!

[GBattaglia]

the panic sellers that didn´t want to slide down in agony with their live savings a second time around after nov.2013 are now getting the FOMO. some of them may have left btc for good, but most of them were just scared. they will jump back the closer it gets to their prior sell level.

because for a bitcoiner it is painful to see a 30% drop in price. but it is much more pain to even lose some btc when it rises again , and they haven´t bought back in.

so expect more of those 5% upward jumps. fuck yeah.


edit: $870/Y6000 will be resistance for a while, tough.

edit2: it was resistance for about 3 minutes, lol

Was coming here just to say that resistance didn't resist very long. China soon to be 6200 and BTC-E pushing $880.
China isn't leading very much in this rise though which I think is a good thing. Really I was expecting the rise to resume
when and if the PBOC says their inspection of BTC-China came out all clear.