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

[Globb0]

Genius, split off a coin then dump it to pump the main coin.

Can it repeat a few times?

[BitcoinNewsMagazine]

$3690 is a 1.618 Fibonacci extension a logical price for a pause or profit taking.

I'm ignorant. From $2280? Why?

Hope this helps. Fibonacci extensions drawn from most recent swing high to swing low.

https://bitcoinnewsmagazine.com/wp-content/uploads/2015/09/dailyfibextensions.png

Thanks. So the calculation is based upon 0.5 being the halfway point between the local high and the local low?

Subtract the price at swing low $1830 from previous swing high $2980 to get $1150. Multiply $1150 by 1.618 to get $1860.7. Add that $1860.7 to the $1830 low to get the 1.618 first Fibonacci extension of $3690.7 then repeat for the higher extensions.

[pfrtlpfmpf]

My girlfriend is so happy, that i have a proper hobby, i mean, i could be buying lambos, and paying for the upkeep. She doesn´t know, what she has here, half the time !

[jbreher]

Subtract the price at swing low $1830 from previous swing high $2980 to get $1150. Multiply $1150 by 1.618 to get $1860.7. Add that $1860.7 to the $1830 low to get the 1.618 first Fibonacci extension of $3690.7 then repeat for the higher extensions.

Got it. So why do people think it works? What is the theory? Empirical based on backtesting across numerous markets?

[becoin]

$3690 is a 1.618 Fibonacci extension a logical price for a pause or profit taking.

I'm ignorant. From $2280? Why?

Hope this helps. Fibonacci extensions drawn from most recent swing high to swing low.

https://bitcoinnewsmagazine.com/wp-content/uploads/2015/09/dailyfibextensions.png

Thanks. So the calculation is based upon 0.5 being the halfway point between the local high and the local low?

Subtract the price at swing low $1830 from previous swing high $2980 to get $1150. Multiply $1150 by 1.618 to get $1860.7. Add that $1860.7 to the $1830 low to get the 1.618 first Fibonacci extension of $3690.7 then repeat for the higher extensions.

This is Bitcoin! All this TA is useless. So many people were tempted to short the "top" and got REKT.  Why didn't you learn anything from past 8 years?

[bitserve]

So true. At this time Bitcoin market is way more influenced by fundamentals, like the obvious and predictable impact of segwit approval, overcoming the Bitcoin Cash "attack", etc etc.... But, fibonacci levels have some importance too because they define some psicological levels that have some resistance on human behaviour.

[Last of the V8s]

much technical
very analysis
wow

[rjclarke2000]

$3690 is a 1.618 Fibonacci extension a logical price for a pause or profit taking.

I'm ignorant. From $2280? Why?

Hope this helps. Fibonacci extensions drawn from most recent swing high to swing low.

https://bitcoinnewsmagazine.com/wp-content/uploads/2015/09/dailyfibextensions.png

Thanks. So the calculation is based upon 0.5 being the halfway point between the local high and the local low?

Subtract the price at swing low $1830 from previous swing high $2980 to get $1150. Multiply $1150 by 1.618 to get $1860.7. Add that $1860.7 to the $1830 low to get the 1.618 first Fibonacci extension of $3690.7 then repeat for the higher extensions.

I should have paid more attention at school. Wow

[Asrael999]

much technical
very analysis
wow

Buy doge?

[BitcoinNewsMagazine]

Subtract the price at swing low $1830 from previous swing high $2980 to get $1150. Multiply $1150 by 1.618 to get $1860.7. Add that $1860.7 to the $1830 low to get the 1.618 first Fibonacci extension of $3690.7 then repeat for the higher extensions.

Got it. So why do people think it works? What is the theory? Empirical based on backtesting across numerous markets?

Fibonacci retracements and extensions are based on the Fibonacci sequence of numbers. The Golden Ratio 1.618 is found everywhere in nature and also bitcoin charts. Traders have been using Fibonacci for decades because it has been shown to work with markets. Back in January 2015 since I knew the bitcoin low was $152 at that time and the previous ATH was $1163 I could predict a possible future bitcoin price of $2798 from the 2.618 Fibonacci extension. Do you see how Fibonacci can be useful now? In this case it could have helped a smart trader avoid taking profits too early.

[pfrtlpfmpf]

much technical
very analysis
wow

much technical
very analysis
wow

Guys, just throw it back into their mouth, and we´re done !

[rjclarke2000]

So..... where are we heading when the inevitable correction happens?

Where will it settle?

Thoughts?

[podyx]

Is the party over already?

The fuck is this?

[rjclarke2000]

ATH and JJG is quiet.

Worrying.

[600watt]

So..... where are we heading when the inevitable correction happens?

Where will it settle?

Thoughts?

five k is the new target. bitcoin will keep going.

[BitcoinNewsMagazine]

$3690 is a 1.618 Fibonacci extension a logical price for a pause or profit taking.

I'm ignorant. From $2280? Why?

Hope this helps. Fibonacci extensions drawn from most recent swing high to swing low.

https://bitcoinnewsmagazine.com/wp-content/uploads/2015/09/dailyfibextensions.png

Thanks. So the calculation is based upon 0.5 being the halfway point between the local high and the local low?

Subtract the price at swing low $1830 from previous swing high $2980 to get $1150. Multiply $1150 by 1.618 to get $1860.7. Add that $1860.7 to the $1830 low to get the 1.618 first Fibonacci extension of $3690.7 then repeat for the higher extensions.

This is Bitcoin! All this TA is useless. So many people were tempted to short the "top" and got REKT.  Why didn't you learn anything from past 8 years?

Shorting a bull market is tricky and one way novice traders lose money. It is easier to make money just going long in a bull market. If you look at a weekly Bitstamp chart for BTC/USD with a simple 20 period moving average bitcoin price has been above the 20 MA for two years. That is two years of a bull market where all you had to do to make money with bitcoin was buy when price touched a line on a chart, the 20 MA. Last time was last month when you should have bought under $1900.  

[600watt]

Is the party over already?

The fuck is this?

crypto is dead.

 

[pfrtlpfmpf]

Is the party over already?

The fuck is this?

crypto is dead.

 

You couldn´t be wronger, seriously !

[jojo69]

OMG


SELL SELL SELL!!!

 

[soullyG]

Is the party over already?

The fuck is this?

crypto is dead.

 

You couldn´t be wronger, seriously !

Just refuelling for the next stage