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

[phoenix1]

Retest of the $110 soon?

I think so

we will hit 126 and fly away 

You need to change your avatar ... penguins can't fly 

They can, provided there's enough ooomph in the cannon 

Like this ?

https://www.youtube.com/watch?v=XTM0L9aMenU

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[phoenix1]

Retest of the $110 soon?

I think so

We'll peak around $114.

Seems like a good target 

[fitty]

Ready...Set...RALLY!

[Its About Sharing]

Zuckerberg Confidant says people will get bored of Facebook if they don't bring new ideas like bringing Bitcoin to FB

Code:

He suggested Facebook should think about solving problems in healthcare, education, or maybe even bringing Bitcoin into the mainstream.
Watch the interview here:

http://www.businessinsider.com/if-facebook-doesnt-start-attacking-ground-breaking-ideas-its-users-are-going-to-get-bored-2013-5

Imagine Facebook allows shops or the like and adds BTC as a payment! Heck, how about Paypal adds an exchange  

[humanitee]

Zuckerberg Confidant says people will get bored of Facebook if they don't bring new ideas like bringing Bitcoin to FB

Code:

He suggested Facebook should think about solving problems in healthcare, education, or maybe even bringing Bitcoin into the mainstream.
Watch the interview here:

http://www.businessinsider.com/if-facebook-doesnt-start-attacking-ground-breaking-ideas-its-users-are-going-to-get-bored-2013-5

Imagine Facebook allows shops or the like and adds BTC as a payment! Heck, how about Paypal adds an exchange  

Don't forget, this is Vaporcoin.

[Rampion]

I know nothing about TA, but it looks like we are reaching some sort of convergence. It's obvious that tops are lower and lower, but bottoms are higher and higher too.

Buyers are still there, and true bears seem to be running quite low on ammo

[Frozenlock]

Buyers are still there, and true bears seem to be running quite low on ammo

Only 170 KBTC on the exchange! My God, they are almost out!

[Brushan]

Zuckerberg Confidant says people will get bored of Facebook if they don't bring new ideas like bringing Bitcoin to FB

Code:

He suggested Facebook should think about solving problems in healthcare, education, or maybe even bringing Bitcoin into the mainstream.
Watch the interview here:

http://www.businessinsider.com/if-facebook-doesnt-start-attacking-ground-breaking-ideas-its-users-are-going-to-get-bored-2013-5

Imagine Facebook allows shops or the like and adds BTC as a payment! Heck, how about Paypal adds an exchange  

There is a facebook-like website Trig.com where users can upload music, videos, books etc and sell them. I read somewhere that alot of artist are interested in this and it is growing constantly. If they only accepted Bitcoins. It would help market the site plus you could buy all of that with your dear BTCs! I wrote them an e-mail about it but they haven't answered. Maybe if more Bitcoin users would write them they would change their mind..

[Quantum_Negatum]

*patiently waiting for the chaos that will ensue when the bots decide to collectively rise up against the humans and pull all the fake buy floors at the same time.

[Frozenlock]

Ok, $109 was tested in a totally anticlimatic way... we can go down now. 

[Its About Sharing]

Let's get back on topic maybe?

Like I wrote in SlipperySlope's thread, I think we're at a critical point where two trendlines are about to collide.



Any relevant movement upwards, crossing 120, is evidence that the post-bubble correction trendline is broken, or at least getting weaker. Any sharp decline, 90 or lower, would be evidence that the mid-January growth trendline is no longer valid or weakened.

No idea where we're going from here, but I believe that whatever direction it is will give us a good idea where we're going in the coming weeks.

When you look at the chart going back a few months, it is pretty clear that that symmetrical like triangle is a part of the uptrend and NOT recent downtrend. Also, since it is symmetrical, that would be a good omen coming out of a big upmove. But I agree with you, I don't know. 

In light of all the big news lately, I really don't feel like trying to trade out and pick up more cheaper. Maybe with 30% of your holdings if you like to gamble. But I see BTC at this stage as just too open to a violent up-move.

IAS

[internationalaw]

365.00 coin buy

[internationalaw]

This might be the stupidest question ever, but if the amount is followed by a green up arrow, it is a purchase I assume?

[internationalaw]

110 wall about to be tested

[Frozenlock]

When you look at the chart going back a few months, it is pretty clear that that symmetrical like triangle is a part of the uptrend and NOT recent downtrend. Also, since it is symmetrical, that would be a good omen coming out of a big upmove. But I agree with you, I don't know.  

Uptrend? Where?
Oh you mean this:


C'mon, clearly a bubble!  

Edit: And this, children, is why we use logarithmic charts.

[wachtwoord]

This might be the stupidest question ever, but if the amount is followed by a green up arrow, it is a purchase I assume?

In every trade one party purchases while the other sells. A green arrow means a buyer buys one of the outstanding sell orders (increasing the price), a red arrow means the opposite: a seller sells his coins to an outstanding offer lowering the price.

[Its About Sharing]

EDIT: So i was thinking the other day, in a channel like the one above, if the volume is much higher at the lows then at the peaks, that would mean there is more resistance against breaking the lower support line right?

Looks like a bearish pennant.

Not sure: taken from http://www.trending123.com/patterns/bearish_pennant.html

Apart from its shape, the Pennant is similar in all respects to the Flag. The Pennant is also similar to the Symmetrical Triangle or Wedge continuation patterns however; the Pennant is typically shorter in duration and flies horizontally.

Volume


As the Pennant develops, the volume tends to decrease. Martin Pring notes in his book, Technical Analysis Explained, "a pennant is in effect a very small triangle. If anything, volume tends to contract even more during the formation of a pennant than during that of a flag." However, as with Flags, when the Pennant completes you will often observe a sharp spike in volume.

Duration of the Pattern


In his book, Technical Analysis of the Financial Markets, John J. Murphy identifies that Pennants and Flags are relatively short-term and should be completed within one to three weeks". He also notes that by comparison, the bullish patterns take longer to develop than the related bearish patterns.

Trading Considerations


Possibility of Price Reversal


In some rare cases, the price will break against the original price movement, and create a reversal trend. The pattern reversal may be signaled during the Pennant formation by an increase in volume, as opposed to the more typical decrease.


Duration of the Pattern


The duration of the pattern depends on the extent of the price fluctuations (consolidation). The greater the fluctuations, the longer a pattern will take to develop.

[Jaques]

This might be the stupidest question ever, but if the amount is followed by a green up arrow, it is a purchase I assume?

yes, it means someone bought from the ask
contrarian to selling into the bid

[telemaco]

This might be the stupidest question ever, but if the amount is followed by a green up arrow, it is a purchase I assume?

Unless you are daltonic

[ChartBuddy]