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

[adamstgBit]

we have had 3 successful missions to the moon

this time we are going to mars 

[CryptStorm]

Its not a cup and handle formation. Cup and handles are specifically supposed to be U shaped and not V shaped.

lets make up a new term.

call it, V shaped TA trap.

What's on the top right... a red-giant star about to go supernova!?

Or its a pinota and 200,000 bitcoins fall out.

that would be nice.

but their no need, fundamentals are so strong that bitcoin always has an upward drift even on low volume.

freaking out yet?

wait till i start a count down.

My concern is that (besides the normal consideration of a 7 week+ long period to describe a cup-and-handle setup) the weakened V-shape, weak volume, lack of volatility, and slipping trend may turn this into a bull trap if it doesn't break through the resistance at $778 that Yoya carefully pointed out.

[tomato22]

it's gone up to 779 on gox now

[YoYa]

Just 780BTC to break the resistance...so close, just one trade.

[adamstgBit]

Its not a cup and handle formation. Cup and handles are specifically supposed to be U shaped and not V shaped.

lets make up a new term.

call it, V shaped TA trap.

What's on the top right... a red-giant star about to go supernova!?

Or its a pinota and 200,000 bitcoins fall out.

that would be nice.

but their no need, fundamentals are so strong that bitcoin always has an upward drift even on low volume.

freaking out yet?

wait till i start a count down.

My concern is that (besides the normal consideration of a 7 week+ long period to describe a cup-and-handle setup) the weakened V-shape, weak volume, lack of volatility, and slipping trend may turn this into a bull trap if it doesn't break through the resistance at $778 that Yoya carefully pointed out.

[justusranvier]

We have added $3.5 billion in market cap this week.  No other week compares from this perspective.

You're thinking linearly.

[ardana123]

What about the weekend dip? Or will it be a weekend crash?

[David M]

We have added $3.5 billion in market cap this week.  No other week compares from this perspective.

You're thinking linearly.

Yes I am.  And it has served me very well.

[Kj1]

What about the weekend dip? Or will it be a weekend crash?

That is so last week

[BldSwtTrs]

What is the explanation for Stamp catching up Gox price?

[maz]

What about the weekend dip? Or will it be a weekend crash?

There was a good post on reddit about that a while ago. It's kind of a myth.

[maz]

What about the weekend dip? Or will it be a weekend crash?

http://www.reddit.com/r/BitcoinMarkets/comments/1qqkyp/what_usually_happens_on_weekends/

To quote from the above reddit:

[–]friction_is_a_lie
Here are the charts for the last 10 weekends if anyone is interested.

http://imgur.com/a/5tCZD

    Significant growth: 5
    Minimal change: 2
    Slight "dip": 2
    Significant "dip": 1

[gandhibt]

What once was heavy resistance on Stamp, now is healthy support ($750).

I'm sorry for the grey bearded old-timers who live in fear of the ghost of 2011, but I think it's already proven that 2013 is no 2011.

This was for Blitz =) Old-timers do often live in fear and in past, what a cruel place world has been for them... "You will learn son, you will learn" =D

[ChartBuddy]

[CryptStorm]

Its not a cup and handle formation. Cup and handles are specifically supposed to be U shaped and not V shaped.

lets make up a new term.

call it, V shaped TA trap.

What's on the top right... a red-giant star about to go supernova!?

Or its a pinota and 200,000 bitcoins fall out.

that would be nice.

but their no need, fundamentals are so strong that bitcoin always has an upward drift even on low volume.

freaking out yet?

wait till i start a count down.

My concern is that (besides the normal consideration of a 7 week+ long period to describe a cup-and-handle setup) the weakened V-shape, weak volume, lack of volatility, and slipping trend may turn this into a bull trap if it doesn't break through the resistance at $778 that Yoya carefully pointed out.

She's Bitcoin I take it? Fuck I hope we bust through the $787 barrier.

[oda.krell]

It's 1800 to 500. The 500 is due to huge whale dumpers, stop loss orders, liquidation, panic etc and lasts only very briefly before shooting back up and then stabilizing at $1000.

We haven't even seen a whale dump yet - that was just a correction because it went to 900 too fast.

Remember 100k dumps?

Or china could pull out. There could be bad news. Everyone is holding an enormous profit right now. There are 12 million coins.

Anything is possible.

Actually, no. Do you?

The largest I could find was a ~50k dump on the afternoon of April 10.

Preceded, by a few hours, by a ~50k buy

[elux]

We have added $3.5 billion in market cap this week.  No other week compares from this perspective.

You're thinking linearly.

I love it when people get it 

*nods in agreement*

[BitchicksHusband]

Yes they're just speculations.

This is bitcoin.

The minute you think you know something, you don't.

You can check my track record.  When I said we would never hit double digits again, we never have.  When I said we would never see the 100s again, we never have.  Now I'm saying we'll never see the $200s again.

I don't make exact predictions but wide guidelines and not randomly but because I understand logarithms and populations and game theory.  I don't think you really understand what it would take to see $200 again.  Or to drop below $1500 if we ever got to $2200.  Once we actually GOT to $2200, it would make $1500 very difficult if bitcoin is ultimately adopted.

Now if it fails, all bets are off...  But then none of us will care anymore because the mining block will be stuck forever and you won't be able to move any coins around.

[gandhibt]

Here's my highly scientific trollish two cents from paint

[TERA]

If you were to combine the order books of all of the major exchanges, you would now get a bid of about 100 million USD.