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

[Sword Smith]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

Doubt as to where the further price moves are heading - the triangle shows that swing trades are narrowing the price range thus reducing the volume traded by day traders. I have heard that a break-out from a triangle is a strong indicator on the future direction. But some say it is a contrarian indicator lol.

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[Sword Smith]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

Doubt as to where the further price moves are heading - the triangle shows that swing trades are narrowing the price range thus reducing the volume traded by day traders. I have heard that a break-out from a triangle is a strong indicator on the future direction. But some say it is a contrarian indicator lol.

Let us hope it is a contrarian indicator since the price just broke out below the triangle's trading range.
Big players are fighting it out now. Huge volumes.

[DougTanner]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

It usually means the volume is about to pick up, and when the volume picks up it usually causes the price to change quickly in one direction.

If you could properly gage market confidence I guess most of the time you could predict the direction. I'm just posting triangles for fun though, I'm not actually trying to trade based on them, my bot is handling that 

Example:

[arnoldrimmer]

Panic Sell on the Way!!!

[adamstgBit]

Panic Sell on the Way!!!

i really don't think so, bears falling into the trap, good show!

[Sword Smith]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

Doubt as to where the further price moves are heading - the triangle shows that swing trades are narrowing the price range thus reducing the volume traded by day traders. I have heard that a break-out from a triangle is a strong indicator on the future direction. But some say it is a contrarian indicator lol.

Let us hope it is a contrarian indicator since the price just broke out below the triangle's trading range.
Big players are fighting it out now. Huge volumes.

If the price goes above 158, it would seem that the break out was a contrarian or maybe a fake indicator. But to me, TA is mostly entertainment. I am holding for the longest time and not daytrading.

[Rothgar]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

My own independent analysis comes to this same conclusion.  The price will go down or up. 

[needmorecoins]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

My own independent analysis comes to this same conclusion.  The price will go down or up. 

lol

[DougTanner]

I <3 this graph. 

[NamelessOne]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

Doubt as to where the further price moves are heading - the triangle shows that swing trades are narrowing the price range thus reducing the volume traded by day traders. I have heard that a break-out from a triangle is a strong indicator on the future direction. But some say it is a contrarian indicator lol.

Let us hope it is a contrarian indicator since the price just broke out below the triangle's trading range.
Big players are fighting it out now. Huge volumes.

If the price goes above 158, it would seem that the break out was a contrarian or maybe a fake indicator. But to me, TA is mostly entertainment. I am holding for the longest time and not daytrading.

Hehe, 159 right now.

[Brushan]

It never ceases to amaze me. Why would people sell big amounts of coin in the low 150's when the price was 168 hours ago?

[Jaroslaw]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

Doubt as to where the further price moves are heading - the triangle shows that swing trades are narrowing the price range thus reducing the volume traded by day traders. I have heard that a break-out from a triangle is a strong indicator on the future direction. But some say it is a contrarian indicator lol.

Let us hope it is a contrarian indicator since the price just broke out below the triangle's trading range.
Big players are fighting it out now. Huge volumes.

If the price goes above 158, it would seem that the break out was a contrarian or maybe a fake indicator. But to me, TA is mostly entertainment. I am holding for the longest time and not daytrading.

Hehe, 159 right now.

Rather 153, dead cat bounce

[NamelessOne]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

Doubt as to where the further price moves are heading - the triangle shows that swing trades are narrowing the price range thus reducing the volume traded by day traders. I have heard that a break-out from a triangle is a strong indicator on the future direction. But some say it is a contrarian indicator lol.

Let us hope it is a contrarian indicator since the price just broke out below the triangle's trading range.
Big players are fighting it out now. Huge volumes.

If the price goes above 158, it would seem that the break out was a contrarian or maybe a fake indicator. But to me, TA is mostly entertainment. I am holding for the longest time and not daytrading.

Hehe, 159 right now.

Rather 153, dead cat bounce

I don't think two minute time frames get to count as dead cat bounces.  haha

[adamstgBit]

It never ceases to amaze me. Why would people sell big amounts of coin in the low 150's when the price was 168 hours ago?

all the bear encourage each other, sometimes they get overly excited...

then they go to bed and dream of 25cent bitcoin, and all the bears on the other side of the world behave exactly the same way.

[deathcode]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

Doubt as to where the further price moves are heading - the triangle shows that swing trades are narrowing the price range thus reducing the volume traded by day traders. I have heard that a break-out from a triangle is a strong indicator on the future direction. But some say it is a contrarian indicator lol.

Let us hope it is a contrarian indicator since the price just broke out below the triangle's trading range.
Big players are fighting it out now. Huge volumes.

If the price goes above 158, it would seem that the break out was a contrarian or maybe a fake indicator. But to me, TA is mostly entertainment. I am holding for the longest time and not daytrading.

Hehe, 159 right now.

Rather 153, dead cat bounce

Normal profit taking from big players, small players should stay away from selling and keep holding. Selling in this market is plain foolish knowing that we are perfectly capable of reaching $250.

[seleme]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

Doubt as to where the further price moves are heading - the triangle shows that swing trades are narrowing the price range thus reducing the volume traded by day traders. I have heard that a break-out from a triangle is a strong indicator on the future direction. But some say it is a contrarian indicator lol.

Let us hope it is a contrarian indicator since the price just broke out below the triangle's trading range.
Big players are fighting it out now. Huge volumes.

If the price goes above 158, it would seem that the break out was a contrarian or maybe a fake indicator. But to me, TA is mostly entertainment. I am holding for the longest time and not daytrading.

Hehe, 159 right now.

I don't think two minute time frames get to count as dead cat bounces.  haha

Rather 153, dead cat bounce

you didn't mind 2 minute frame 159 though

can go anyway as always though

[stereotype]

It never ceases to amaze me. Why would people sell big amounts of coin in the low 150's when the price was 168 hours ago?

Something to do with 'this new trading thing'. Meaning, theres many new entrants who have just discovered trading, small and large size alike.
Doing what you describe is exactly what they do.

[Sword Smith]

The trend the last two hours look a bit bearish. The last two days looks extremely bullish, though. This current fall fra 168-153 is probably just a small correction with some people taking a profit from their buys between 50-100 where the volume was enormous.

[DougTanner]

It never ceases to amaze me. Why would people sell big amounts of coin in the low 150's when the price was 168 hours ago?

Something to do with 'this new trading thing'. Meaning, theres many new entrants who have just discovered trading, small and large size alike.
Doing what you describe is exactly what they do.

I feel sorry for all the people that sold at $50 and bought back at $165. They must be tearing their hair out right now wondering what to do.

[NamelessOne]

So that's what drawing triangles on charts can tell you? That the price is going either up or down. Interesting.

Doubt as to where the further price moves are heading - the triangle shows that swing trades are narrowing the price range thus reducing the volume traded by day traders. I have heard that a break-out from a triangle is a strong indicator on the future direction. But some say it is a contrarian indicator lol.

Let us hope it is a contrarian indicator since the price just broke out below the triangle's trading range.
Big players are fighting it out now. Huge volumes.

If the price goes above 158, it would seem that the break out was a contrarian or maybe a fake indicator. But to me, TA is mostly entertainment. I am holding for the longest time and not daytrading.

Hehe, 159 right now.

I don't think two minute time frames get to count as dead cat bounces.  haha

Rather 153, dead cat bounce

you didn't mind 2 minute frame 159 though

can go anyway as always though

I wasn't claiming bear traps or bull traps or dead cat bounces. I was simply noting the price in relation to the previous post.