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

[realsteelboy]

Look at monthly RSI, it's well over 93%.

Only 3 times so far we got over 95.
Each and every time we were into a bubble just about to burst.

How long after getting above 95 did that happen each time?

[Torque]

Look at monthly RSI, it's well over 93%.

Only 3 times so far we got over 95.
Each and every time we were into a bubble just about to burst.

You're not wrong to be cautious here.

But let me ask you a question. Suppose those hedge funds planning to invest in futures through the CME, and even Wallstreet whale traders, know for a fact that the Bitcoin price will soar higher in the coming years want to get out in front of it by buying loads of Bitcoin directly now.

Would they be able to disguise that market buying pressure? I think not.

Is that what we are seeing with this rally then? Possibly.

Could we still see a big short once the CME thing gets going? Possibly. I wouldn't rule it out.

Could we instead see no pullback at all? Possibly.

Prepare accordingly.

[ft73]

Look at monthly RSI, it's well over 93%.

Only 3 times so far we got over 95.
Each and every time we were into a bubble just about to burst.

You're not wrong to be cautious here.

But let me ask you a question. Suppose those hedge funds planning to invest in futures through the CME, and even Wallstreet whale traders, know for a fact that the Bitcoin price will soar higher in the coming years want to get out in front of it by buying loads of Bitcoin directly now.

Would they be able to disguise that market buying pressure? I think not.

Is that what we are seeing with this rally then? Possibly.

Could we still see a big short once the CME thing gets going? Possibly.

Could we instead see no pullback at all? Possibly.

Prepare accordingly.

I agree, except "no pullback" is not an option imho.
We may debate whether a correction may start from here, 10000, 12000 or whatever, but we'll get a huge correction afterwards ( 40% ?  60% ? ).
Morevover usually when the bubble bursts all you get is a huge price spike that you'll hardly catch.

Personally i trust that monthly indicator and from here i'll follow the simple advice: "sell greed".
Still liquidating along the rise.

[itod]

Look at monthly RSI, it's well over 93%.

Only 3 times so far we got over 95.
Each and every time we were into a bubble just about to burst.

If the technical indicators are little bit more accurate, in price movement prediction, than looking at the glass ball a lot of people would be rich. Unfortunately they are not.

[hodl_2015]

About seasteading, ...

(getting totally off-topic, but I'd like to add a positive note in light of the current prices)
Most of the problems you describe result from too high density of people because people all want to be where the most natural resources are, and then having conflicting ideas about who those resources belong to. (your link is the opposite of reducing population density)

I hope both will improve with renewable energy. It's one of the most important resources, and makes _many_ more location perfectly habitable, resulting in a lower population density. In case of solar, the resource is not bound to a location, so land-grab won't get you the resource, the owner will take the panels with them when you chaise them away.
Water is also an important resource, but anywhere near the coast it is easy to create when there is almost unlimited supply of energy.

[LFC_Bitcoin]

Been away this weekend, just checked the price. $9,000 wow, never thought I’d see these kind of prices. Bitcoin is the best thing I’ve ever done in my life, period.

This is gentlemen!

[CristiTCM]

Been away this weekend, just checked the price. $9,000 wow, never thought I’d see these kind of prices. Bitcoin is the best thing I’ve ever done in my life, period.

This is gentlemen!

How does it feel to be rich?

[bitcoinPsycho]

looks like Christmas come early this year

[mike4001]

looks like Christmas come early this year

Christmas (10k+) is yet to come

[valerie_zurich]

It's hard to track prices when bitcoin is so bullish, eh? Come comment with your thoughts on today's chart of the day.



Chart Source:

https://cryptocoincharts.info/pair/btc/usd/bitfinex/today

[criptix]

I will forever remember this day and will tell my childrens in the future:

I feel like a kid again LOL

DBZ x BTC:

[Wekkel]

with the next +10% we will break 10k coming week. 12k by end of 2017 and 60k-100k by end of 2018 sounds reasonable.

Yes, it will become interesting once price doubles in a week.

You keep saying that, even at this point?

I say this (and continue to repeat it) as a reminder that we are slowly heading towards a blow off moment. The doubling-in-a-week indicator would serve as a gentle but strong warning that it may be time to dampen the hype a little.

And yes, the run-up this year is great but to me it is hardly exciting compared to 2011/2013. But then again, 2013 may not repeat after all.

[drwhobox]

As more and more forks are coming more to dump to get some Bitcoins = Higher price.

X-mas is coming really early for us here.

Congratulations to everyone for reaching a new all time high!!

[Higher Altitude]

$9300. Only $700 to go. Piece of cake for Bitcoin 

[JimboToronto]

Good morning Bitcoinland.

Another day another ATH... currently $9306USD/$11831CAD (Bitcoinaverage).

Old coins are now each worth  $11248USD/$14300CAD (Coinmatketcap).

Now that $9k is past, $10k doesn't seem so far away. It's still a long shot for November but not impossible.

Go Bitcoin go.

[ragnar0k]

Look at monthly RSI, it's well over 93%.

Only 3 times so far we got over 95.
Each and every time we were into a bubble just about to burst.

You're not wrong to be cautious here.

But let me ask you a question. Suppose those hedge funds planning to invest in futures through the CME, and even Wallstreet whale traders, know for a fact that the Bitcoin price will soar higher in the coming years want to get out in front of it by buying loads of Bitcoin directly now.

Would they be able to disguise that market buying pressure? I think not.

Is that what we are seeing with this rally then? Possibly.

Could we still see a big short once the CME thing gets going? Possibly.

Could we instead see no pullback at all? Possibly.

Prepare accordingly.

I agree, except "no pullback" is not an option imho.
We may debate whether a correction may start from here, 10000, 12000 or whatever, but we'll get a huge correction afterwards ( 40% ?  60% ? ).
Morevover usually when the bubble bursts all you get is a huge price spike that you'll hardly catch.

Personally i trust that monthly indicator and from here i'll follow the simple advice: "sell greed".
Still liquidating along the rise.

The question here I think is not whether it will fall (I believe it will, but I am crap @ predictions), but how long it will stay down!
Lately crashes do not seem to last, I think the behavior of BTC is still the same, but demand is spiking, and with holiday family discussions you bet more users will join.

The minimum I can do for BTC is to hodl during a fall to 6 or 5k, given that it was the price of a few weeks ago

[BitcoinBunny]

[Ibian]

But it's not 90000 

[Meuh6879]

How does it feel to be rich?

[BitcoinBunny]

But it's not 90000 

You are too distracted to notice the plus symbol.