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

[ParabellumLite]

Healthy correction took place

No it didn't. A "dip" took place.

I understand the wet dream of every TA fan that sold their bitcoins sub $3k to have that level revisited but...  keep on dreaming! You'll wake up when we break $10k by the end of this year.

How could you possibly know this for sure? What kind of crystal ball do you have that tells you this?
You'd do wise to keep an open mind, instead of making a mockery out of yourself by excluding the possibility something else happens.

[toknormal]

I understand the wet dream of every TA fan that sold their bitcoins sub $3k to have that level revisited but...  keep on dreaming! You'll wake up when we break $10k by the end of this year.

If we do - and that's the top - it will be followed by a retrace to $2000.

Cliff High says $13888 by next spring. So that could mean either:

 • $20k+ with retrace to $13 or
 • $13k with retrace to $3k next summer

We need that 80% retrace for the price to get baked in. Don't worry. The alts - in particular Dash - will take up the slack when it happens.

[El duderino_]

Where were you during the backside of the last big "China" spike in 2013 when it peaked out at $1200 ?

So, uptrend isn't a straight line, right?

We had $5k now we have $4k. Healthy correction took place and soon we'll break $5k for new ATH. Big money just start entering Bitcoin and won't stop in the next couple of years!

I agree! 4k USD is theis BTC bottom!

It's the best time to buy now!
The red 1 day chart is finished very soon, and the next wave UP will be huge !
best wishes

Yes healthy correction took place , So price go up price go down.... up ... down... but als the dude lebowski says that rug really Tied the room together So let us all stay in This btc show and abide whatever

[york780]

Nice bull denial here.

[El duderino_]

Nice bull denial here.

All bull thinking in here my friend

[|Admiral|]

Nice bull denial here.

All bull thinking in here my friend

seems like we gonna hit 3800$ , all bulls turned bear If BTC shows resistance above 3800$ then i can see a comeback..but it is very much difficult. BTW very less fluctuation in LTC.

[Cerbera]

So this is where the Legendaries and Heros hang out. It fells like walking into a bikers bar for the first time. Some interesting conversations tho.

Leave your bitcoin's on the bar & get out Newbie.



JOKING

Seriously you can learn a lot from some people in this thread, are some trolls here too though.

Ha Ha, Great welcome! I'm sure there are heaps of things that I've never heard of (or even thought about) in all these 17768 pages of posts.

[El duderino_]

This is the bottom. Please all re-buy now so i can exit my leverage long without loss. Thanks!

i think is not the bottom but i hope you are right

YEAH , WELL
you know
THAT'S JUST
like
YOUR
OPINION
man

[becoin]

I understand the wet dream of every TA fan that sold their bitcoins sub $3k to have that level revisited but...  keep on dreaming! You'll wake up when we break $10k by the end of this year.

If we do - and that's the top - it will be followed by a retrace to $2000.

Cliff High says $13888 by next spring. So that could mean either:

 • $20k+ with retrace to $13 or
 • $13k with retrace to $3k next summer

We need that 80% retrace for the price to get baked in. Don't worry. The alts - in particular Dash - will take up the slack when it happens.

haha... so, you sold your bitcoins at $2k to buy dash. Oh, boy...

[toknormal]

haha... so, you sold your bitcoins at $2k to buy dash. Oh, boy...

No. I've steadily accumulated BTC for 3 years and never (net) sold any of them. But I've used Dash as a hedge since it's a better store of value than bitcoin and can act as a successful counterweight in bitcoin bear markets.

[El duderino_]

I understand the wet dream of every TA fan that sold their bitcoins sub $3k to have that level revisited but...  keep on dreaming! You'll wake up when we break $10k by the end of this year.

If we do - and that's the top - it will be followed by a retrace to $2000.

Cliff High says $13888 by next spring. So that could mean either:

 • $20k+ with retrace to $13 or
 • $13k with retrace to $3k next summer

We need that 80% retrace for the price to get baked in. Don't worry. The alts - in particular Dash - will take up the slack when it happens.

haha... so, you sold your bitcoins at $2k to buy dash. Oh, boy...

I'm thinking on allways same strategie Just buy and HODL on my coins allways same never ending story I GUESSSS

[JayJuanGee]

Completely WRONG! Bitcoin price is driven not by technicals but by fundamentals!
To trade bitcoin using TA during fundamental uptrend is totally unprofessional!

Completely wrong.

Where were you during the backside of the last big "China" spike in 2013 when it peaked out at $1200 ?

It had every bullish fundamental going for it - from Overstock adoption to new exchanges, to worldwide media attention to new associated fintech innovations, not to mention a ton of new wallet developers arriving on the scene.

All of that was NADA compared to the technical correction that ensued. Once the bear market kicks in, no amount of fundamentals can prevent it from running its course. A long term bearish crossover to a trader is a tidal reversal that no ship overcomes. During a major bullrun all "fundamentals" for at least the next 12 months get priced in anyway. It's when they arrive for real that the profit take starts.

It seems to be way too early to call a bear market, merely because we are experiencing a 20% plus correction.... within less than 2 weeks of the most recent ATH...   

In the end, you could be correct, that we are transitioning into a bear market,   but it is way too fucking early to smug about any such assertion based on our current circumstance, and whether confidence has been shaken or bears have taken control based on lilie bitsie exaggerated fud-train in recent days.

[Elwar]

If people are panic selling because of what some guy at JP Morgan said....GOOD.

I hope they go long on the dollar and buy war bonds. Maybe run up some credit card debt and pay overdraft fees to their banks. Enjoy your inflationary (on purpose!) currency.

[toknormal]

...but it is way too fucking early to smug about any such assertion based on our current circumstance, and whether confidence has been shaken or bears have taken control

Well we have a solid 7/30 Day SMA crossover and it looks like being an EMA one as well. We've only had 3 such crossovers this year - January, July and April - and in EACH case the market took us back to BELOW the previously established platform support, albeit temporarily. That would suggest that we're going to at least retest $2700 and possibly lower prior to further growth.

I'd say therefore it was prudent, not smug, to entertain the idea that bears will be in control for at least a while.

[JayJuanGee]

MT Gox had noting to do with that crash no

MT Gox gets far more credit that it deserves for that bear market. It was a technical consolidation, plain and simple because nothing does that many multiples of gain without a corresponding consolidation.

Look back in history at previous spikes - you'll see exactly the same thing.

If it retests $1850 at least once more you can start feeling bullish again. Even an 80% retrace wouldn't be unreasonable if this is the top which means that we're looking at around $900 for the retest before further long term growth.

Now you are coming off as a bit crazy with these kinds of numbers to attempting to assert some kind of 2013 parallel here including some kind of assertion that we have that same kind of level of over blowness in the current price and market.

I had not been invested in bitcoin at the time, but I can look at charts, and do you fucking realize the extreme difference between what happened in 2013 as compared with this situation?   not only in terms of isolated price but also in terms of the overall space and the amount of money coming into the space?  Compare it.

For the most part, there were two close to 10x price appreciations in 2013, which added up to about 77x price appreciation for the year (from $15 to $1163)... helrow?    Can you see it? 

At most we can call this something like a 20x over two years... perhaps going from about $250 to $5k. 

So both the timeline and the steepness of the slope was difference and the extremeness of the slope and the money coming into the space was quite different, too.  Sure some of those kinds of facts and differences can cut both ways in terms of whether we could call the same conditions today as a similar kind of overinflatted bubble as was more justifiable in 2013... 

So, hopefully, you are not shorting too hard in your attempt to suggest that there is some kind of strong downward correction that is somehow necessary (or maybe you are attempting to argue inevitable?) at the current time.

By the way, I am not claiming that I know much of anything, except to assert what you seem to be arguing and strongly outlining based on some kind of supposed mathematics (TA), is both premature and overstated.

[toknormal]

Now you are coming off as a bit crazy with these kinds of numbers to attempting to assert some kind of 2013 parallel here including some kind of assertion that we have that same kind of level of over blowness in the current price and market.

Your enthusiasm is admirable. But that's all it is - mania.

Traders take profits and that blows any mania to kingdom come when it comes to markets, so I'd be careful.

[Meuh6879]

So all the poeple who haves bitcoin
Are in a panic situation right now...

[JayJuanGee]

...but it is way too fucking early to smug about any such assertion based on our current circumstance, and whether confidence has been shaken or bears have taken control

Well we have a solid 7/30 Day SMA crossover and it looks like being an EMA one as well. We've only had 3 such crossovers this year - January, July and April - and in EACH case the market took us back to BELOW the previously established platform support, albeit temporarily. That would suggest that we're going to at least retest $2700 and possibly lower prior to further growth.

I'd say therefore it was prudent, not smug, to entertain the idea that bears will be in control for at least a while.

I don't have any problem entertaining ideas, as long as they are not framed as if they were some kind of mathematical inevitablility, and now you are suggesting a pretty strong case for $2700... so yeah right, we gotta get through a couple more support areas.. at least $3800, $3500 and $3k before $2700 becomes plausible.  I have my doubts about whether such a correction is as likely as you are making it out to be...   However, I am prepared to buy down to well below that point, so don't try to suggest that I am attempting to talk my book... On the other hand, I do not sell, especially after we have already had more than a 20% correction, as I type... so my strategy would either be to continue to buy or if I give a more likelihood to your scenario then I might buy less at these higher prices and save a bit more powder for the lower prices.. even though I still am not going to give a whole hell-of-a lot of weight to how much emphasis you seem to be giving to lines on a chart.       

[JayJuanGee]

Now you are coming off as a bit crazy with these kinds of numbers to attempting to assert some kind of 2013 parallel here including some kind of assertion that we have that same kind of level of over blowness in the current price and market.

Your enthusiasm is admirable. But that's all it is - mania.

Traders take profits and that blows any mania to kingdom come when it comes to markets, so I'd be careful.

I am prepared for downwards.. so I would not categorize my current sense of hostility to your various assertions of certitude as "mania".... 

[El duderino_]

So When are we breaking ATH