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

[bitserve]

store of value eh

It has no value now?

Do you even understand what store of value means?

[ft73]

Bought some @1679.99$ to ride rebound.
1730$ eventually, but tight stop order.

Didn't last long 

Ok it's running now ... let's see

You catch that falling knife dude 

1718$ .. meh

[CoinHoarder]

hahahahahahhaa

^ @ all of those that criticized me for selling BTC at the top a day ago.

What goes up must come down, right?

I've been around too long to know that extended uptrends only last so long.

[BlindMayorBitcorn]

hahahahahahhaa

^ @ all of those that criticized me for selling BTC at the top a day ago.

What goes up must come down, right?

Congrats.

[kurious]

hahahahahahhaa

^ @ all of those that criticized me for selling BTC at the top a day ago.

What goes up must come down, right?

I've been around too long to know that extended uptrends only last so long.

Have you bought back in yet - or are you waiting for lower? Just curious...

[ft73]

Triangle forming.
Looking at graph right now i'd say it should likely break under 1650$ within a few hours.
1620$ should hold short term, eventually.

Can't see much margin to the upside ( before further correction ), best case about 1750$ ?

[CoinHoarder]

Have you bought back in yet - or are you waiting for lower? Just curious...

Not yet. I am on the fence.

One one hand, I think this could be another bear trap on the way to $2000 to $2100ish, then the real correction will occur down to $1100 to $1500.

On the other hand, I think that now is the time for the correction down to $1100 to $1500.

I think I will sit on the sidelines for now, since both of my guesstimations lead to the price going down from their current levels eventually.

When the Winkelvoss' ETF is denied a second time on the 15th, then I think that will spark the real correction if it is not already in motion now.

[RayX12]

For those of you who hate Alts and want to crush them.. I found this utterly important:

https://twitter.com/dangermouse117/status/861992606292516864

ps do click on the info graphic and study it a bit.

edit:  Also here
http://woobull.com/

[BlindMayorBitcorn]

For those of you who hate Alts and want to crush them.. I found this utterly important:

https://twitter.com/dangermouse117/status/861992606292516864

ps do click on the info graphic and study it a bit.

Forker propaganda. I don't buy it. Big blocks can bite a wax tadpole as far as I'm concerned.

[r0ach]

Did we just witness the top of this in the last 30 seconds?

[r0ach]

For those of you who hate Alts and want to crush them.. I found this utterly important:

https://twitter.com/dangermouse117/status/861992606292516864

ps do click on the info graphic and study it a bit.

Forker propaganda. I don't buy it. Big blocks can bite a wax tadpole as far as I'm concerned.

He's 100% correct and I've explained it to you fools 500 times.  Bitcoin is a currency, not money.  It's value is entirely flow, not stock based.  This is why I'm 0% in bitcoin and 100% in Litecoin now.

[ft73]

Smaller triangle (on 15 Min.) to break within minutes.
Up or down ? I'd say 60% up, for a small bounce to 1720 - 1730$ area ... let's see.

[abercrombie]

https://twitter.com/Tcorp_/status/863132877784989696

"By the next 24hrs the whole fucking world will be under ransom and they will need out bitcoins. This is real life Sci-Fi and we live it!"

[Torque]

For those of you who hate Alts and want to crush them.. I found this utterly important:

https://twitter.com/dangermouse117/status/861992606292516864

ps do click on the info graphic and study it a bit.

Forker propaganda. I don't buy it. Big blocks can bite a wax tadpole as far as I'm concerned.

He's 100% correct and I've explained it to you fools 500 times.  Bitcoin is a currency, not money.  It's value is entirely flow, not stock based.  This is why I'm 0% in bitcoin and 100% in Litecoin now.

Biggest bunch of horse shit. Altcoins pumped because that was the whole bait-and-switch BS plan this year, nothing more.

And r0ach, ur an idiot. A guy that says Bitcoin is complete crap compared to PMs, and hates cryptocurrencies in general, but yet is now supposedly 100% all in Litecoin for.... what fkn reason?  

Again, 'cause ur an idiot, the reason why nobody here pays you any attention.

[ft73]

Smaller triangle (on 15 Min.) to break within minutes.
Up or down ? I'd say 60% up, for a small bounce to 1720 - 1730$ area ... let's see.

Infact it broke down.
Time for next leg down to 1650$ i guess.

[r0ach]

For those of you who hate Alts and want to crush them.. I found this utterly important:

https://twitter.com/dangermouse117/status/861992606292516864

ps do click on the info graphic and study it a bit.

Forker propaganda. I don't buy it. Big blocks can bite a wax tadpole as far as I'm concerned.

He's 100% correct and I've explained it to you fools 500 times.  Bitcoin is a currency, not money.  It's value is entirely flow, not stock based.  This is why I'm 0% in bitcoin and 100% in Litecoin now.

Biggest bunch of horse shit. Altcoins are pumping because that was the whole bait-and-switch BS plan this year, nothing more.

And r0ach, ur an idiot. A guy that says Bitcoin is complete crap compared to PMs, and hates cryptocurrencies in general, but yet is now supposedly 100% all in Litecoin for.... what fkn reason?  

Again, 'cause ur an idiot, the reason why nobody here pays you any attention.

Yes, Litecoin was such a horrible trade I only made 600% on it while you guys were praying to the gods to deliver you a 5% bitcoin rise.  The chinese trading team on litecoin is still trying to hold it down to accumulate more, so there is no way I'm leaving for any other coin right now.

[Wekkel]

RSI is pointless if BTC is about to go in overdrive. The trend is your friend.

Still RSI tells you good things.
At least it happened in past.
Look what happens after lines.

A bit rude, but what I mean to say with that:

• Bitcoin is volatile; you don't get in to pick up pennies but to take an asymmetric bet with limited downside and very high upside
• so you rather add to positions in ferocious downturns than try to time the market for an intermediate top
• if Bitcoin does a 2011/2013 redux, you would miss the best gains
• seeing tops in RSI over the past does not mean knowing beforehand what the top will be (RSI could rise even further)
  

It is an indicator, but not more than that. If you're in it for the long play (the asymmetric bet) instead of day trading, it would be better to ignore it and just add to your position over time. Best sell indicator: if Bitcoin price doubles in 1 week  

RSI seems more useful in a long grind down during (multi-)year downtrends.

To add to this a bit more (we are here to learn from each other):



If we take an extreme RSI (87) as threshold to exit, not may signals remain left. If BTC balloons extreme, you would miss out on considerable gain. Under 'normal' price gain, the signal seems to works better, but there's always the danger of missing the next major leap up.

Current RSI top in play is not within this extreme RSI of 87. Let's see whether we bounce at 50.


zooming in on missing a factor 2.7 by bailing out too soon.

[ft73]

For those of you who hate Alts and want to crush them.. I found this utterly important:

https://twitter.com/dangermouse117/status/861992606292516864

ps do click on the info graphic and study it a bit.

Forker propaganda. I don't buy it. Big blocks can bite a wax tadpole as far as I'm concerned.

He's 100% correct and I've explained it to you fools 500 times.  Bitcoin is a currency, not money.  It's value is entirely flow, not stock based.  This is why I'm 0% in bitcoin and 100% in Litecoin now.

Biggest bunch of horse shit. Altcoins are pumping because that was the whole bait-and-switch BS plan this year, nothing more.

And r0ach, ur an idiot. A guy that says Bitcoin is complete crap compared to PMs, and hates cryptocurrencies in general, but yet is now supposedly 100% all in Litecoin for.... what fkn reason?  

Again, 'cause ur an idiot, the reason why nobody here pays you any attention.

Yes, Litecoin was such a horrible trade I only made 600% on it while you guys were praying to the gods to deliver you a 5% bitcoin rise.  The chinese trading team on litecoin is still trying to hold it down to accumulate more, so there is no way I'm leaving for any other coin right now.

I'm with you on this.
Currently i'm moving back a bit from ETH to LTC.

In the meantime BTC at 1675$, route to 1650$ and below..

[tk3609]

1900$ was a top according to my analysis. I would not mind being proven wrong

Looks like my analysis was correct. If we close below 1650$ on stamp its all she wrote. If it holds we may go next leg up (less probable).

[Asrael999]

1900$ was a top according to my analysis. I would not mind being proven wrong

Looks like my analysis was correct. If we close below 1650$ on stamp its all she wrote. If it holds we may go next leg up (less probable).

And here we with stamp at 1702......