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

[JayJuanGee]

Good to see that the price has recovered well after the recent dump, lowest I saw was in the $2100's range. We are now up to $2540 on Bitstamp so the question I want to ask is who are the weak hands who sold at the bottom?

Yep I was thinking that we were going to have one more leg to the dump (correction), and in the past 12 hours or so, I have becoming a bit more inclined to believe that there might not be a third leg.  We just got two legs.

Also, I do not sell on the way down, I buy, but since I thought that there might be a third leg down, I held back a bit on buying as much, just in case.

We are not out of the woods, yet, so we could still have a third downward leg, but the odds seem to becoming less and less especially given the seemingly pretty decent onwards and upwards buying pressure, and if we get above $2600, then it going to seem pretty probable that we are back on track to test $3k.

Actually, it is going to be a bit difficult for this week's candle to turn out green.  In order to close green, we have to be above $2,960 at midnight GMT.  What are the odds?  less than 30%?  I wonder?  Would be pretty bullish if this week's candle ended up green, no?

30% I think is very high. I'd say more like 5%

Hahahahaa..   I understand that you want to be conservative in your estimations, but

What a pessimist!!!!
 

I could give you 15% or 20%, but 5%?  I know that you are not a bear, but isn't that a bit too low?

[Icygreen]

On Stamp, Seems to me we need to break 2552 before a correction can take place and perhaps 2560.  Taking out 2525 was entertaining to watch.  Someone kept dumping 20-50 btc at a time on 2525 when it got shallow. Seems like an effort to wear out the buyers.

Now at 2565, going back up.
I guess shorting is over until 3k.
Couple small dumps will come before new ATH.


OkCoin at 2768, stamp will catch it with 50usd cap.

Yup, resistance dropped back real quick or turned support, looks like green candles mostly until 2600.  BTC support amazes me when its needed.    

[Taki]

In the meanwhile, Litecoin is being highly pumped because LTC will be traded on Bitstamp by Monday and maybe something related to lightning network.

I think people may sell BTC for LTC and dump the BTC price a little.

How can you know everything that is goin to be with LTC? I have couple of coins and I really don't know when it's goin to be the good time to sell. I will wait for Monday and will see was your suggestion correct or not.

[JayJuanGee]

So i guess
bottom was 2120 (71%)
rebound was / will be about 2550 (85%)
(bitstamp high was 2980)

Now before i was thinking a nearly 30% fall is surely a sign that a bubble is over.
But this theory was destroyed just some days ago with fall to 1850 from 2700.

So right now i guess it could go on
(Theory that bubbles become bigger and longer than before, i can imagine a 6 month bubble)

You must be new around here?

This is bitcoin.

Hello?

It is not a mature market and we seem to be in the early stages of an exponential s-curve.

Don't you know that banker shills and governments want to shake you of your coins and turn you into a pessimist?

We can get two 30% corrections in a few weeks and still continue UP.. We are about to break $2600, which means that we are on our way to testing $3k.. whether we make it there before the end of the weekend is another question.  I think that the odds are against making it to $3k by the end of the weekend.. but surely it is not impossible - but if we do not, then it is seeming likely within a week or so.. but when we are in potential early to middle stages of exponential mode, things can happen fast, no?

And there is no fucking way that bitcoin is in some kind of "bigger than before bubble" at the moment.  Look at history and also compare it to some of the alts.. Get some perspective.  When we look at bitcoin, as compared with its history and as compared with what is going on in the alt coin space, you haven't seen nothing yet..

I am not saying that a bubble won't come, but currently, we do not seem to be in such a thing.

[FractalUniverse]

Good to see that the price has recovered well after the recent dump, lowest I saw was in the $2100's range. We are now up to $2540 on Bitstamp so the question I want to ask is who are the weak hands who sold at the bottom?

Yep I was thinking that we were going to have one more leg to the dump (correction), and in the past 12 hours or so, I have becoming a bit more inclined to believe that there might not be a third leg.  We just got two legs.

Also, I do not sell on the way down, I buy, but since I thought that there might be a third leg down, I held back a bit on buying as much, just in case.

We are not out of the woods, yet, so we could still have a third downward leg, but the odds seem to becoming less and less especially given the seemingly pretty decent onwards and upwards buying pressure, and if we get above $2600, then it going to seem pretty probable that we are back on track to test $3k.

Actually, it is going to be a bit difficult for this week's candle to turn out green.  In order to close green, we have to be above $2,960 at midnight GMT.  What are the odds?  less than 30%?  I wonder?  Would be pretty bullish if this week's candle ended up green, no?

30% I think is very high. I'd say more like 5%

Hahahahaa..   I understand that you want to be conservative in your estimations, but

What a pessimist!!!!
 

I could give you 15% or 20%, but 5%?  I know that you are not a bear, but isn't that a bit too low?

2960? i would see odds 10-15%, imo this run will stall and correct down from not higher than 2800-2850 (if it gets there at all)

[JayJuanGee]

On Stamp, Seems to me we need to break 2552 before a correction can take place and perhaps 2560.  Taking out 2525 was entertaining to watch.  Someone kept dumping 20-50 btc at a time on 2525 when it got shallow. Seems like an effort to wear out the buyers.

Now at 2565, going back up.
I guess shorting is over until 3k.
Couple small dumps will come before new ATH.


OkCoin at 2768, stamp will catch it with 50usd cap.

We are not in shorting mode, we seem to be in shorts get R3CKT mode.

[JayJuanGee]

Good to see that the price has recovered well after the recent dump, lowest I saw was in the $2100's range. We are now up to $2540 on Bitstamp so the question I want to ask is who are the weak hands who sold at the bottom?

Yep I was thinking that we were going to have one more leg to the dump (correction), and in the past 12 hours or so, I have becoming a bit more inclined to believe that there might not be a third leg.  We just got two legs.

Also, I do not sell on the way down, I buy, but since I thought that there might be a third leg down, I held back a bit on buying as much, just in case.

We are not out of the woods, yet, so we could still have a third downward leg, but the odds seem to becoming less and less especially given the seemingly pretty decent onwards and upwards buying pressure, and if we get above $2600, then it going to seem pretty probable that we are back on track to test $3k.

Actually, it is going to be a bit difficult for this week's candle to turn out green.  In order to close green, we have to be above $2,960 at midnight GMT.  What are the odds?  less than 30%?  I wonder?  Would be pretty bullish if this week's candle ended up green, no?

30% I think is very high. I'd say more like 5%

Hahahahaa..   I understand that you want to be conservative in your estimations, but

What a pessimist!!!!
 

I could give you 15% or 20%, but 5%?  I know that you are not a bear, but isn't that a bit too low?

2960? i would see odds 10-15%, imo this run will stall and correct down from not higher than 2800-2850 (if it gets there at all)

Fair enough.

As I type, we only have about 37 hours until this week's candle closes.. so yeah, it would be really fucking bullish or even possibly overheated if we were to achieve green for the week.

[phyros]

In the meanwhile, Litecoin is being highly pumped because LTC will be traded on Bitstamp by Monday and maybe something related to lightning network.

I think people may sell BTC for LTC and dump the BTC price a little.

How can you know everything that is goin to be with LTC? I have couple of coins and I really don't know when it's goin to be the good time to sell. I will wait for Monday and will see was your suggestion correct or not.

buy the rumor, sell the news...

[FractalUniverse]

Taki> Isold Ltc already this morning. Risky

Bitcoin - I closed my long prematurely yesterday, but  i will not short, even if its topping out; I'll just wait with buy orders lower.

I don't think there is a very reliable way to predict it, and history doesn't always repeat itself. However Elwar says that in 2013 the price doubling in a week, or half a week was what preceded a crash.

In 2013 it went like this.

First bubble:
Double in a month
Double in 2 weeks
Double in 1 week
Double in half a week
Up a bit then crash

Second bubble:
Double in a month
Double in 2 weeks
Double in 1 week
Up a bit then crash

Recently we doubled in a month (1250 to 2500) but then it flattened out. That's a good thing.

measuring parabolic growth development in time can work, but there will still be uncertainty, as its never exactly same situation as in the past.
Good for targeting closing of long positions, but going short based on this would still feel like attempting to catch running train (got burned shorting eth around 220... :p)

[rjclarke2000]

Good to see that the price has recovered well after the recent dump, lowest I saw was in the $2100's range. We are now up to $2540 on Bitstamp so the question I want to ask is who are the weak hands who sold at the bottom?

Yep I was thinking that we were going to have one more leg to the dump (correction), and in the past 12 hours or so, I have becoming a bit more inclined to believe that there might not be a third leg.  We just got two legs.

Also, I do not sell on the way down, I buy, but since I thought that there might be a third leg down, I held back a bit on buying as much, just in case.

We are not out of the woods, yet, so we could still have a third downward leg, but the odds seem to becoming less and less especially given the seemingly pretty decent onwards and upwards buying pressure, and if we get above $2600, then it going to seem pretty probable that we are back on track to test $3k.

Actually, it is going to be a bit difficult for this week's candle to turn out green.  In order to close green, we have to be above $2,960 at midnight GMT.  What are the odds?  less than 30%?  I wonder?  Would be pretty bullish if this week's candle ended up green, no?

30% I think is very high. I'd say more like 5%

Hahahahaa..   I understand that you want to be conservative in your estimations, but

What a pessimist!!!!
 

I could give you 15% or 20%, but 5%?  I know that you are not a bear, but isn't that a bit too low?

Yes you are correct I am no bear JJG. Maybe I will meet you in the middle then! Basically I can not see it happening in that short timeframe that's all.

I am excited to see where we are going the second half of this year though!

[JayJuanGee]

[edited out]

Yes you are correct I am no bear JJG. Maybe I will meet you in the middle then! Basically I can not see it happening in that short timeframe that's all.

I am excited to see where we are going the second half of this year though!

Hahahaha..

I kind of got to know aspects of you, so I know that you are no bear, unless your account get's taken over or your wife clubs you on the head.

I am equally amazed and excited too, and we are really in crazy times with the crazy stuff with alts, too.  So in the end there is a lot of money in the space and likely a lot of additional overshooting that can be caused by that... that can cause otherwise unreasonable outcomes.

[BlackFlag]

[wgd]

BlackFlag well, that's what I see, we're getting to the local summit right now. The direction is one (down), soon the middle of the scale in 1d scale.

Can be really bloody;)

[FractalUniverse]

BlackFlag well, that's what I see, we're getting to the local summit right now. The direction is one (down), soon the middle of the scale in 1d scale.

Can be really bloody;)

but it would be the buying opportunity a lots of people are waitin for. (me included )

[Bak4jar0]

Hello cryptoworld!

i am realy new in this world, you can see it, buy the number of my post. Can someone explain to me the grapf BlacFlag made? Should i buy or wait? Some tip would be realy appreciated!

Kind regards

Bak4jar0

[mymenace]

Hello cryptoworld!

i am realy new in this world, you can see it, buy the number of my post. Can someone explain to me the grapf BlacFlag made? Should i buy or wait? Some tip would be realy appreciated!

Kind regards

Bak4jar0

Technical trading - people speculate on market moves based on charts and other technical indicators

http://www.investopedia.com/articles/trading/02/091802.asp

[FractalUniverse]

Hello cryptoworld!

i am realy new in this world, you can see it, buy the number of my post. Can someone explain to me the grapf BlacFlag made? Should i buy or wait? Some tip would be realy appreciated!

Kind regards

Bak4jar0

Noone really knows for sure what will happen, we are all just speculating here. i dont know how many bitcoins you want to buy, but i wouldnt buy whole amount at the same price. better buying slowly when it goes down.
But its just my opinion, not instructions for you what to do

[conspirosphere.tk]

So right now i guess it could go on
(Theory that bubbles become bigger and longer than before, i can imagine a 6 month bubble)

Indeed. Even at the bottom of the last two major dumps we remained into an ascending channel.

[Pajulapoiss]

Hello cryptoworld!

i am realy new in this world, you can see it, buy the number of my post. Can someone explain to me the grapf BlacFlag made? Should i buy or wait? Some tip would be realy appreciated!

Kind regards

Bak4jar0

Noone really knows for sure what will happen, we are all just speculating here. i dont know how many bitcoins you want to buy, but i wouldnt buy whole amount at the same price. better buying slowly when it goes down.
But its just my opinion, not instructions for you what to do

Yes, I ended up buying in like that, and I ended up saving. Divide your investment by 4-5, invest one portion a day, or every few days.

Definitely worth to take a few weeks to get to know crypto world. And keep an eye on the charts. Always investigate your investment objects

[becoin]

There will be only 21 million bitcoins. The fight for every coin will be epic!