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

[NiceSoft12]

I post that chart because I know some of you are going crazy about the bitcoin 10.21% ... is it a bubble or not..
Well let's make this straight... if you think this kind of price action isn't typically a bubble.. then you need to review your classics !
Of course this is a bubble ! The only question is when is going to burst.. That's a tricky question.. and trying to short a bubble require quite some experience.

Every trade need a technical background to support the scenario (otherwise it's just random betting.. and that's gamble.. not trading).
Using my mighty couple of indicators, PRO Sinewave & PRO Momentum, here's what I have :

We can clearly highlight 5 sell signal (confirmed by both Sinewave & Momentum). These will obviously act as resistances during the technical bounce that we may see next.
AND I SAID "MAY SEE" because so far there's not a single sign of bullish support on Sinewave and neither on Momentum.
Finally we can add the "BEAR TREND" confirmation that showed up when things started to get a little nastier !
Which means that until we manage to break a resistance, we're still bearish in term

[1715228535]

1715228535

[TERA2]

Ok I have to admit my posts have been super bearish and I'm going to change my ways. So here's how it's going to go. Look, this is going up. It's going straight up. Nobody is ever going to sell again. There will never be another dip, or another retracement, or another crash. A miner might need to sell like 1 satoshi, that's it. We're going to see an increase at a steady rate of, say, 5% per day. A new ATH will appear at least once per week. We will reach $1,000,000 in no time, and then it'll keep going. There will be no limit because all of us will be hoarding everything except 1 coin. The whole world will have to share the single coin in circulation, which comprises all of the world's GDP and currency derivatives, and they will be fighting over satoshis. Warren Buffet will go big and buy like 100 satoshis. To the moon. Wow.

[milkshock100]

Ok I have to admit my posts have been super bearish and I'm going to change my ways. So here's how it's going to go. Look, this is going up. It's going straight up. Nobody is ever going to sell again. There will never be another dip, or another retracement, or another crash. A miner might need to sell like 1 satoshi, that's it. We're going to see an increase at a steady rate of, say, 5% per day. A new ATH will appear at least once per week. We will reach $1,000,000 in no time, and then it'll keep going. There will be no limit because all of us will be hoarding everything except 1 coin. The whole world will have to share the single coin in circulation, which comprises all of the world's GDP and currency derivatives, and they will be fighting over satoshis. To the moon. Wow.

All I’m asking you to admit is you purposefully ignored fridays events to justify a downtrend.

[JayJuanGee]

Ok I have to admit my posts have been super bearish and I'm going to change my ways. So here's how it's going to go. Look, this is going up. It's going straight up. Nobody is ever going to sell again. There will never be another dip, or another retracement, or another crash. A miner might need to sell like 1 satoshi, that's it. We're going to see an increase at a steady rate of, say, 5% per day. A new ATH will appear at least once per week. We will reach $1,000,000 in no time, and then it'll keep going. There will be no limit because all of us will be hoarding everything except 1 coin. The whole world will have to share the single coin in circulation, which comprises all of the world's GDP and currency derivatives, and they will be fighting over satoshis. To the moon. Wow.

Something like that.

You are getting closer, and moving in the right direction.  

You have to keep practicing this shirking of the bear attitude because currently I can read between the lines of the above attempt and see that you do not really mean what you said.  

If you keep practicing and repeating, then you will also start to believe.     That's how it works.  Shirk your inner bear.  Shirk your inner bear.   

[TERA2]

I dont put much stock in events. I just read charts. There are many negative events during an uptrend or positive events during a downtrend and they fail to break the underlying trend. Only when the trend is already ready to be reversed and the whales were already there waiting for an excuse to dump or buy will it reverse. Otherwise youll see only a pinbar that goes past the trend but quickly and strongly reverses.

Lets take silk road for example. Terrible news as any. But it was clear on the very first day that it wasnt breaking the uptrend. It didnt turn the daily chart into a mess.

The millions of johns and joes getting on a train dont have a clue what any of these events mean. We simply just started running out of johns and joes.

If it was just one Fluke event on Friday you'd see more volume, a stronger recovery, and a better daily chart.

[Phil_S]

The poll seems too wide-range now, less than a week away.

Let's play a quick game (no prizes just fun) - name your prediction for 31/12/2017 at 23:59:59 GMT on Bitstamp.

I say $17111.

[HairyMaclairy]

I dont put much stock in events. I just read charts. There are many negative events during an uptrend or positive events during a downtrend and they fail to break the underlying trend. Only when the trend is already ready to be reversed and the whales were already there waiting for an excuse to dump or buy will it reverse. Otherwise youll see only a pinbar that goes past the trend but quickly and strongly reverses.

Lets take silk road for example. Terrible news as any. But it was clear on the very first day that it wasnt breaking the uptrend. It didnt turn the daily chart into a mess.

The millions of johns and joes getting on a train dont have a clue what any of these events mean. We simply just started running out of johns and joes.

If it was just one Fluke event on Friday you'd see more volume, a stronger recovery, and a better daily chart.

Tera:   I give you a fair amount of stick but I appreciate your thoughtful analysis.  It is a good counterweight to my natural bullishness.  Don’t let anyone dissuade you from doing what you do. 

[rjclarke2000]

The poll seems too wide-range now, less than a week away.

Let's play a quick game (no prizes just fun) - name your prediction for 31/12/2017 at 23:59:59 GMT on Bitstamp.

I say $17111.

$1673

[HairyMaclairy]

The poll seems too wide-range now, less than a week away.

Let's play a quick game (no prizes just fun) - name your prediction for 31/12/2017 at 23:59:59 GMT on Bitstamp.

I say $17111.

$1673

$1340

[Phil_S]

But you are all missing (at least) one zero! 

[bitserve]

The poll seems too wide-range now, less than a week away.

Let's play a quick game (no prizes just fun) - name your prediction for 31/12/2017 at 23:59:59 GMT on Bitstamp.

I say $17111.

$1673

$1340

$266

Happy XMAS everyone!

[Phil_S]

Oh no.

[TERA2]

$11111.11

[milkshock100]

I dont put much stock in events. I just read charts. There are many negative events during an uptrend or positive events during a downtrend and they fail to break the underlying trend. Only when the trend is already ready to be reversed and the whales were already there waiting for an excuse to dump or buy will it reverse. Otherwise youll see only a pinbar that goes past the trend but quickly and strongly reverses.

Lets take silk road for example. Terrible news as any. But it was clear on the very first day that it wasnt breaking the uptrend. It didnt turn the daily chart into a mess.

The millions of johns and joes getting on a train dont have a clue what any of these events mean. We simply just started running out of johns and joes.

If it was just one Fluke event on Friday you'd see more volume, a stronger recovery, and a better daily chart.

It wasn’t a fluke it was a concerted attempt to test the foundations of the market and the market held very firm and hasn’t been anywhere near that point since.

[explorer]

The poll seems too wide-range now, less than a week away.

Let's play a quick game (no prizes just fun) - name your prediction for 31/12/2017 at 23:59:59 GMT on Bitstamp.

I say $17111.

$1673

$1340

I picked 12k-14k on the poll when it was posted, so to keep within that theme, $13603. 

[TERA2]

I dont put much stock in events. I just read charts. There are many negative events during an uptrend or positive events during a downtrend and they fail to break the underlying trend. Only when the trend is already ready to be reversed and the whales were already there waiting for an excuse to dump or buy will it reverse. Otherwise youll see only a pinbar that goes past the trend but quickly and strongly reverses.

Lets take silk road for example. Terrible news as any. But it was clear on the very first day that it wasnt breaking the uptrend. It didnt turn the daily chart into a mess.

The millions of johns and joes getting on a train dont have a clue what any of these events mean. We simply just started running out of johns and joes.

If it was just one Fluke event on Friday you'd see more volume, a stronger recovery, and a better daily chart.

It wasn’t a fluke it was a concerted attempt to test the foundations of the market and the market held very firm and hasn’t been anywhere near that point since.

It doesn't look like it held firm to me. The volume was lower than the past 3 major drops (its supposed to increase) and the recovery over the next 3 days was rather weak compared to previous. Just look at a daily chart to see what I mean.

[milkshock100]

I dont put much stock in events. I just read charts. There are many negative events during an uptrend or positive events during a downtrend and they fail to break the underlying trend. Only when the trend is already ready to be reversed and the whales were already there waiting for an excuse to dump or buy will it reverse. Otherwise youll see only a pinbar that goes past the trend but quickly and strongly reverses.

Lets take silk road for example. Terrible news as any. But it was clear on the very first day that it wasnt breaking the uptrend. It didnt turn the daily chart into a mess.

The millions of johns and joes getting on a train dont have a clue what any of these events mean. We simply just started running out of johns and joes.

If it was just one Fluke event on Friday you'd see more volume, a stronger recovery, and a better daily chart.

It wasn’t a fluke it was a concerted attempt to test the foundations of the market and the market held very firm and hasn’t been anywhere near that point since.

It doesn't look like it held firm to me. The volume was lower than the past 3 major drops (its supposed to increase) and the recovery over the next 3 days was rather weak compared to previous. Just look at a daily chart to see what I mean.

Anyone ‘heeding your warnings’would be 10% down right now

[HairyMaclairy]

The poll seems too wide-range now, less than a week away.

Let's play a quick game (no prizes just fun) - name your prediction for 31/12/2017 at 23:59:59 GMT on Bitstamp.

I say $17111.

$1673

$1340

I picked 12k-14k on the poll when it was posted, so to keep within that theme, $13603. 

Fark I missed a zero.  $13,400

[luckygenough56]

After colour coins and country coins, the new trend in 2018 will be bitcoin fork coins

B2X is a well balanced fork, 2.5 min block, segwit and 4 mb blocks....not sure about the change of algo tho.

[BlindMayorBitcorn]

Everybody is bearish as fark. Y'all are frightening me.