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Question: Where will this rally top out?
Already topped <$7,000 - 7 (20%)
$7,000-$7,499 - 2 (5.7%)
$7,500-$7,999 - 3 (8.6%)
$8,000-$8,499 - 3 (8.6%)
$8,500-$8,999 - 3 (8.6%)
$9,000-$9,499 - 1 (2.9%)
$9,500-$9,999 - 0 (0%)
$10K+ - 16 (45.7%)
Total Voters: 35

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21583145 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (143 posts by 33 users deleted.)
BayAreaCoins
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May 28, 2017, 06:37:59 AM

Polo is a sea of green - everything is up.

I'd rather trust MtGox with my coins.
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BlindMayorBitcorn
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May 28, 2017, 07:24:54 AM

Polo is a sea of green - everything is up.

I'd rather trust MtGox with my coins.

I figured you'd be the type to roll those dice.
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May 28, 2017, 07:27:15 AM

Coin market cap. The whole first page is green.

I don't think I've ever seen that.

I also don't think I'll ever understand how it all happens at the same time.
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May 28, 2017, 07:39:22 AM

Coin market cap. The whole first page is green.

I don't think I've ever seen that.

I also don't think I'll ever understand how it all happens at the same time.
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May 28, 2017, 07:41:55 AM

The train is moving again get in ore get lost!
Its green time for btc
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May 28, 2017, 07:51:39 AM

Coin market cap. The whole first page is green.

I don't think I've ever seen that.

I also don't think I'll ever understand how it all happens at the same time.



Pretty sure it was all geeen.
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May 28, 2017, 08:00:10 AM

Just to follow up on the long term weekly chart with trendline (posted earlier):



It seems a factor of about 11.7% (monthly) captures this trend line. If this trendline holds, see below the road to $10k:

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May 28, 2017, 08:03:04 AM

New here and following. Just had an ahhh haaa moment yesterday after a few lost dollars and watching the books on stamp combined with posts here.  An accurate entry while Darth draws the lines?  I suspect over 95% of the current books by a single hand eliminating chances of speculation which news wont touch.  What percentage of players are privy to this in general?  
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May 28, 2017, 09:08:05 AM

This was an impressive shakeout.
Reminds me of the one in the week of 18th Nov 2013, it crashed down from a top of 800 to 450, everyone was like: "That's it, it's over guys, bubble has popped."
Then it slowly resumed the climb, at some point the sellers had to buy back in, and this baby went from 450 to 1200  Shocked

A similar scenario might be unfolding right now.
I think this rally is not over yet.
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May 28, 2017, 09:14:49 AM

So....


   ..When do you guys reckon we'll see the effects of 'the halvening' kicking in?? //<-'joking'


There's another two 'halvenings' coming in the next 7 years...

http://www.thehalvening.com/

..Just saying like  Cool
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May 28, 2017, 09:22:33 AM

The segwit uasf bip148 @ aug 1st might be the gox event of this bubble. Shorters will try/force it.
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May 28, 2017, 09:37:49 AM

Who sold at the bottom?
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May 28, 2017, 09:37:57 AM

This was an impressive shakeout.
Reminds me of the one in the week of 18th Nov 2013, it crashed down from a top of 800 to 450, everyone was like: "That's it, it's over guys, bubble has popped."
Then it slowly resumed the climb, at some point the sellers had to buy back in, and this baby went from 450 to 1200  Shocked

A similar scenario might be unfolding right now.
I think this rally is not over yet.
I managed to pick up a few extra coins during the drop - almost back to my pre-crash USD levels already, was hoping price would drop a bit further though, nice couple of days trading =)
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May 28, 2017, 09:43:00 AM

This was an impressive shakeout.
Reminds me of the one in the week of 18th Nov 2013, it crashed down from a top of 800 to 450, everyone was like: "That's it, it's over guys, bubble has popped."
Then it slowly resumed the climb, at some point the sellers had to buy back in, and this baby went from 450 to 1200  Shocked

A similar scenario might be unfolding right now.
I think this rally is not over yet.

If it does rally again in the same fashion as you are describing, it will also be headed for a large, deep correction (exactly what happened after 1200). What would be "better" would be some sideways for a while.

We both know that won't happen though.

It will be either:

1 - FOMO re-engages, it goes parabolic, then it dumps and we see another protracted bear market. Some people make a mint, more castles are bought, most lose a shit-ton of money and it results in more damage to trust in BTC and crypto as a whole.

2 - This is "Return to Normal", rally loses steam, more dumps but less risk of a long term bear market and much less damage overall.

We'll know in the next 12h I think.

I'm betting on option 2

Anyone else care to place their bets?
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May 28, 2017, 09:47:04 AM

Who sold at the bottom?


You stopped posting that for a little while there. Feeling confident again?

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May 28, 2017, 09:48:23 AM

This was an impressive shakeout.
Reminds me of the one in the week of 18th Nov 2013, it crashed down from a top of 800 to 450, everyone was like: "That's it, it's over guys, bubble has popped."
Then it slowly resumed the climb, at some point the sellers had to buy back in, and this baby went from 450 to 1200  Shocked

A similar scenario might be unfolding right now.
I think this rally is not over yet.

If it does rally again in the same fashion as you are describing, it will also be headed for a large, deep correction (exactly what happened after 1200). What would be "better" would be some sideways for a while.

We both know that won't happen though.

It will be either:

1 - FOMO re-engages, it goes parabolic, then it dumps and we see another protracted bear market. Some people make a mint, more castles are bought, most lose a shit-ton of money and it results in more damage to trust in BTC and crypto as a whole.

2 - This is "Return to Normal", rally loses steam, more dumps but less risk of a long term bear market and much less damage overall.

We'll know in the next 12h I think.



Anyone else care to place their bets?

We still look in bubble territory to me - I agree the long-term danger is re-ignition and a blast to the $3.5-5k area, followed by a protracted bear market that retraces back to the triple digits before the next cycle can engage around the next halving. This assumes that Bitcoin is not out evolved by something else by then. Don't discount what another loss of confidence in BTC could do, given the proliferation of alternatives out there now.
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May 28, 2017, 09:51:57 AM

It will be either:

1 - FOMO re-engages, it goes parabolic, then it dumps and we see another protracted bear market. Some people make a mint, more castles are bought, most lose a shit-ton of money and it results in more damage to trust in BTC and crypto as a whole.

2 - This is "Return to Normal", rally loses steam, more dumps but less risk of a long term bear market and much less damage overall.

I'm also voting for option 2. The target is 2400-2500 USD on Bitstamp. Only if there are really bullish fundamental news (resolution of the blocksize war, for example) I see a breakout over 2700.

My prediction I made some days ago (e.g. here) has until now be pretty good:

- first stop of the downmove (after the second 2300-2400 bounce): $2000 (it was $2001)
- a little rise to $2200-2500 (ok, it was only 2160 but not too bad)
- dump down to $1800 (1850 held)
- "the real dead cat" going up to $2500 - that's what we're seing now.

So - enjoy the ride but be careful - especially if playing with altcoins Wink

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May 28, 2017, 09:54:01 AM

After correction it will be Cool
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May 28, 2017, 10:18:51 AM

i don't know why anyone here's currently trying to second guess things. with every exchange bursting with new users, the only thing you can be sure of is that the usual traders are not in the driving seat for now.
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May 28, 2017, 10:29:42 AM

i don't know why anyone here's currently trying to second guess things. with every exchange bursting with new users, the only thing you can be sure of is that the usual traders are not in the driving seat for now.

It's a speculation thread  Roll Eyes

Edit: Plus, you think adding more sheep will change the behaviour of the flock? That's hilarious.
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