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

[ChartBuddy]

[ChartBuddy]

[gandhibt]

Bullish.



Not sure.



Bearish?

Camoooon... I should just start to trade with EMAs so I could go to outside to the sun and could smoke weed all day...

[Its About Sharing]

4 days and, 75 to 104.
Bull trap , Reversal or Bubble-Bubble. Playing wait and watch.


Prediction: $65 within 14 days.
Although it might sound absurd, i'm sticking with it.

It is a very violent move up and one can argue we broke through resistance. But, the indicators are all overbought, I'd hate to enter now, especially being under 100. (Even 110 ish)
Also, the very large buyers that got us here might want to unload some. As they go, so do we. It all depends on the big money but sooner or later we have to finish the correction (I would think.)

[Its About Sharing]

Bearish?

Camoooon... I should just start to trade with EMAs so I could go to outside to the sun and could smoke weed all day...

The price has pretty much gone up with the volume on the daily, I don't see cause for concern with any divergences there.
It has been an extremely good indicator, except for the last one on the move up. (July 10-11 but it was a very small move up.)

[bitcryptonit]

4 days and, 75 to 104.
Bull trap , Reversal or Bubble-Bubble. Playing wait and watch.


Prediction: $65 within 14 days.
Although it might sound absurd, i'm sticking with it.

It is a very violent move up and one can argue we broke through resistance. But, the indicators are all overbought, I'd hate to enter now, especially being under 100. (Even 110 ish)
Also, the very large buyers that got us here might want to unload some. As they go, so do we. It all depends on the big money but sooner or later we have to finish the correction (I would think.)

I noticed they are doing exactly the opposite people here think. Nobody was expecting that rise in the price last week. Now everybody expecting a dump but it wont happen. When you start to feel comfortably and buy back at $140 then they will dump.

[Its About Sharing]

4 days and, 75 to 104.
Bull trap , Reversal or Bubble-Bubble. Playing wait and watch.


Prediction: $65 within 14 days.
Although it might sound absurd, i'm sticking with it.

It is a very violent move up and one can argue we broke through resistance. But, the indicators are all overbought, I'd hate to enter now, especially being under 100. (Even 110 ish)
Also, the very large buyers that got us here might want to unload some. As they go, so do we. It all depends on the big money but sooner or later we have to finish the correction (I would think.)

I noticed they are doing exactly the opposite people here think. Nobody was expecting that rise in the price last week. Now everybody expecting a dump but it wont happen. When you start to feel comfortably and buy back at $140 then they will dump.

Quite often that is true. But those few who spent millions causing the price to rise last week did so with the technical indicators on their side. That is the part that is really tough...
And true, if we are expecting a dump, maybe it won't happen. Really, it is a crap shoot, even when you "know" what you are talking about.

[ChartBuddy]

[gandhibt]

There's always "the step to unknown" in equation when you trade coins.

EDIT. unless you have 100k coins, then you do what you want...

[phoenix1]

And true, if we are expecting a dump, maybe it won't happen. Really, it is a crap shoot, even when you "know" what you are talking about.

Do you feel lucky, punk ?

http://www.youtube.com/watch?v=8Xjr2hnOHiM

[Its About Sharing]

And true, if we are expecting a dump, maybe it won't happen. Really, it is a crap shoot, even when you "know" what you are talking about.

Do you feel lucky, punk ?

http://www.youtube.com/watch?v=8Xjr2hnOHiM

All the more special considering the times we live in and that... I loved them Vigilante films as a kid (But Brooklyn will do that to a guy...)

This one was my favorite "punk": https://www.youtube.com/watch?v=l4jZ7rtWnvs

I predict some Banker Vigilante films on the horizon, and BTC is the Vigilante...

[ChartBuddy]

[xorglub]

A wild 1000 BTC bid wall appears on bitstamp...

[Its About Sharing]

I like my support/resistance lines on the body of the candles, not wicks. We are sitting below 2 resistance lines if that is the case. Interesting to think we might have broken out of a descending triangle, but down and now come back up to meet it. Updated - And look at the negative volume divergences (2) with an up price. That had been a good reversal indicator, but not lately. Also, topping out on RSI.

[Pzi4nk]

I like my support/resistance lines on the body of the candles, not wicks. We are sitting below 2 resistance lines if that is the case. Interesting to think we might have broken out of a descending triangle, but down and now come back up to meet it.

Why use the body instead of the wick? The body just represents an arbitrary cutoff period, it's no more indicative of sentiment than any price along the wick.

[Its About Sharing]

I like my support/resistance lines on the body of the candles, not wicks. We are sitting below 2 resistance lines if that is the case. Interesting to think we might have broken out of a descending triangle, but down and now come back up to meet it.

Why use the body instead of the wick? The body just represents an arbitrary cutoff period, it's no more indicative of sentiment than any price along the wick.

Note the updated chart with the volume/price negative divergence. Was bearish for BTC until recently.

I disagree and know I'm in the minority, but when you have a long wick and a close, imo it shows that the price was pushed down to the body. To me that is significant. Yes, on the open it generally is just the prior days close (unless you have a gap up/down). The wick "just" shows the max or min movement but the body can (and often does) show an important price point (the close). Candlestick analysis in large part is about the bodies. e.g. - Small bodies and long wicks showing doji's (indecision, perhaps a reversal). It is often a toss up and even with great analysis, we are often wrong.

All in all, it is really not rocket science. But looking at BTC's candle chart, the bodies tell us tons of information as do the wicks and I'm not so sure we can say one is right and the other is wrong. Just staring at a price history one can make arguments for both.

[wonkytonky]

I still havent seen the massive buying at bottom..  
we went down.. and all was expecting even lower prices so nobody bought in yet..

then some big guy(s) keeps pushing price olmost with repeating accuracy.

so the only thing that happend was a few big buys pushing op price..  and ofcourse people are riding the waves.  

it made sense for big guys to buy looking at technical indicators..  
they can push it much higher.. and i'll ride the waves but always selling  at top and keeping fiat..
i'm sure alot are doing this now..

this cannot hold for ever

the little selloff we had friday? wasnt even a correction..    
and we need corrections to keep it healthy..

my best guess..   one more push up..   and then market will correct..


or ... not  

[ChartBuddy]

[Cablez]

I am still trying to figure out what the heck happened on July 5-6 that would cause this so called 'trend reversal'.  I have come up with bubkis as it seems so arbitrary.  I would have expected it to touch closer to 50s first and then slowly increase, not a shot right to 100. WTF man WTF

[ChartBuddy]