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

[lucas.sev]

The 1H chart is a little worrisome, it might go down to 117 or 116 before it becomes oversold.

What do you mean "down" to 117? Aren't we at 108 now?

Sorry, 107.

Well I just bought in at 108. Let's see what happens.

You might take that as a warning as usually this causes a whale dump 

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[Abandon]

Small consolidation:

Updated. https://www.tradingview.com/e/c5CZeJOb/

[ChartBuddy]

[ChartBuddy]

[adamstgBit]

after a parabolic rise bitcoin is consolidating above 100   50

[Nightowlace]

$70 by Wednesday. Then a nice steady rise to $100 again.

[lucas.sev]

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

[ChartBuddy]

[Abandon]

4H chart update, oversold and multiple cross overs:

https://www.tradingview.com/

[lucas.sev]

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

[adamstgBit]

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

[lucas.sev]

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

It tells me nothing, I wanted to get more insight on how the graph can be interpreted in a way that tells you "its oversold". From I understand "oversold" means that it is expected to go back to non-"over" state i.e. buying is expected?

[Abandon]

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

If those lines at the bottom go below or above the middle area, it is oversold or overbought. The MACD is a little different, if it goes above the pink pink area it is bullish, if it is below that pivot point, it is bearish. If the two lines cross, then it might be a change in trend also.

Usually if two lines cross, then touch the middle area, that's a change in trend signal.

The pink bars on the MACD is volume. If they are above the pink pivot then it's more bought, if it below then it is more sold. They tend to be curvature.

The BB %R takes in account the bollinger bands and the %R, when it bounces off of the walls.

At times one or more of these indicators can be misleading.

[lucas.sev]

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

If those lines at the bottom go below or above the middle area, it is oversold or overbought. The MACD is a little different, if it goes above the pink pink area it is bullish, if it is below that pivot point, it is bearish. If the two lines cross, then it might be a change in trend also.

Usually if two lines cross, then touch the middle area, that's a change in trend signal.

The pink area on the MACD is volume. If it's above the pink pivot then it's more bought, if it below then it is more sold. They tend to be curvature.

The BB %R takes in account the bollinger bands and the %R, when it bounces off of the walls.

At times one or more of these indicators can be misleading.

Thank you! So MACD tells us we are bearish, because only cross above the pink area tells signals bullish market, yes? Do I understand correctly that oversold is interpreted as expecation to get back to higher pricepoint?

[Abandon]

4H chart update, oversold and multiple cross overs:
https://www.tradingview.com/

What is the indicator of being oversold?

If those lines at the bottom go below or above the middle area, it is oversold or overbought. The MACD is a little different, if it goes above the pink pink area it is bullish, if it is below that pivot point, it is bearish. If the two lines cross, then it might be a change in trend also.

Usually if two lines cross, then touch the middle area, that's a change in trend signal.

The pink area on the MACD is volume. If it's above the pink pivot then it's more bought, if it below then it is more sold. They tend to be curvature.

The BB %R takes in account the bollinger bands and the %R, when it bounces off of the walls.

At times one or more of these indicators can be misleading.

Thank you! So MACD tells us we are bearish, because only cross above the pink area tells signals bullish market, yes? Do I understand correctly that oversold is interpreted as expecation to get back to higher pricepoint?

Currently the MACD is bearish for the long term, but the lines there are about to cross over, so it might be bullish for a little while. Oversold or overbought usually means that the market is due for a correction or change in trend.

[ChartBuddy]

[byronbb]

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

Very jagged walls like that imply ownership by a single person. Fake or real is not really the issue imo; it means buy support can suddenly disappear at the whim of a single market participant.

[lucas.sev]

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

Very jagged walls like that imply ownership by a single person. Fake or real is not really the issue imo; it means buy support can suddenly disappear at the whim of a single market participant.

Imagine the panic it would cause if it disappeared now

[byronbb]

$70 by Wednesday. Then a nice steady rise to $100 again.

You think the 105 wall is fake?

Very jagged walls like that imply ownership by a single person. Fake or real is not really the issue imo; it means buy support can suddenly disappear at the whim of a single market participant.

Imagine the panic it would cause if it disappeared now

Exactly.... Moreover the ask side is offering terrible liquidity.

[Frozenlock]

Indeed. We were overbought for most of the sprint upward in April.