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

[T.Stuart]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

--arepo

Arepo at what price and for how many days does this apparent downtrend have to continue until the "very large bulltrap" is healthily corrected (I mean it's got to be to a minimum of touching what, $650 or something and overall last a couple of weeks minimum right?) ? Please can you be specific so we can see your method at work. I will be the first to congratulate you when we see the results.

[QuestionAuthority]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

whether news should impact the price or not doesn't matter when so many are watching out for it as a means to pick up more coin.

also to ignore the news means you have no doubt as to the long term prospects of btc, a lot of people don't share that sentiment yet so like to be prepared to bail.

But you can't use the media as your only means of justifying trade in any market and that seems to be what people are doing.

[T.Stuart]

Sorry to all I was not faithful on fulfilling my BTC to escrow. Had a major issue yesterday, where I'm currently at was hit with the biggest snowstorm in over 10+years on top of artic vortex temperatures...

Hello?

CoinBull's back?

What's all this about the worst blizzard in 10 years Coinbull?

CoinBull what do you have to say for yourself?

[windjc]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

--arepo

Arepo at what price and for how many days does this apparent downtrend have to continue until the "very large bulltrap" is healthily corrected (I mean it's got to be to a minimum of touching what, $650 or something and overall last a couple of weeks minimum right?) ? Please can you be specific so we can see your method at work. I will be the first to congratulate you when we see the results.

+1

[TERA]

So after all this bulltalk about how china is factored out, volume is irrelevant, and wall street whales are controlling the price now: we get one little peep out of china and there is a 15%+ongoing rapid decline ? What gives?

[humanitee]

So after all this bulltalk about how china is factored out, volume is irrelevant, and wall street whales are controlling the price now: we get one little peep out of china and there is a 15%+ongoing rapid decline ? What gives?

If there is one thing I have learned from years of watching charts, it's that bitcoin doesn't need a reason.

[pietje]

So what exchange is leading the dumps right now?

Everyone is racing for the lead. No idea who's in the lead atm
The buy on gox sparkled this little mini rally atm.

[segeln]

there is a 15%+ongoing rapid decline ?

it goes already up again

[seleme]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

--arepo

Arepo at what price and for how many days does this apparent downtrend have to continue until the "very large bulltrap" is healthily corrected (I mean it's got to be to a minimum of touching what, $650 or something and overall last a couple of weeks minimum right?) ? Please can you be specific so we can see your method at work. I will be the first to congratulate you when we see the results.

+1

Haven't followed him up recently but Arepo had lot of bullshit calls back in April.

[windjc]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

Yes, yes and yes.

Clearly this was one of the most intelligent things said in this thread in quite a while.

Interesting that the most intelligent thing said in this thread for a while has still not been confirmed.

[arepo]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

--arepo

Arepo at what price and for how many days does this apparent downtrend have to continue until the "very large bulltrap" is healthily corrected (I mean it's got to be to a minimum of touching what, $650 or something and overall last a couple of weeks minimum right?) ? Please can you be specific so we can see your method at work. I will be the first to congratulate you when we see the results.

haha it's a little trickier than that, but as i have posted elsewhere, if the bubble paradigm holds then we will definitely see prices no lower than $450 and likely see prices no lower than $600.

[mmitech]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

whether news should impact the price or not doesn't matter when so many are watching out for it as a means to pick up more coin.

also to ignore the news means you have no doubt as to the long term prospects of btc, a lot of people don't share that sentiment yet so like to be prepared to bail.

But you can't use the media as your only means of justifying trade in any market and that seems to be what people are doing.

well let me break the oldest "trick" in trading history, buy on rumors sell on news, well it is risky but as well speculation is....

[magicmexican]

I am out of popcorn, watching this really makes the day fly by, i should do something productive perphaps

[windjc]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

--arepo

Arepo at what price and for how many days does this apparent downtrend have to continue until the "very large bulltrap" is healthily corrected (I mean it's got to be to a minimum of touching what, $650 or something and overall last a couple of weeks minimum right?) ? Please can you be specific so we can see your method at work. I will be the first to congratulate you when we see the results.

+1

Haven't followed him up recently but Arepo had lot of bullshit calls back in April.

In my opinion, for this to be a "bull trap" and not a continuation of the upward rally from October, prices need to go below 380. Right??!! Otherwise this correction down from 1240 was a bear trap.

[virtualfaqs]

Well someone on Mtgox really wants the price to stay above $952.21

[arepo]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

--arepo

Arepo at what price and for how many days does this apparent downtrend have to continue until the "very large bulltrap" is healthily corrected (I mean it's got to be to a minimum of touching what, $650 or something and overall last a couple of weeks minimum right?) ? Please can you be specific so we can see your method at work. I will be the first to congratulate you when we see the results.

+1

Haven't followed him up recently but Arepo had lot of bullshit calls back in April.

April-May of this past year? that was when my methods finally started working consistently i wrote up a price report to great avail and my customers were very satisfied. i, myself, made 350% returns during the course of that period.

i will concede that my work before that time period was very error-prone, however. i've been following bitcoin for 2.5 years and have been improving steadily along the way. do you have any specific qualms about my current analysis?

[windjc]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

--arepo

Arepo at what price and for how many days does this apparent downtrend have to continue until the "very large bulltrap" is healthily corrected (I mean it's got to be to a minimum of touching what, $650 or something and overall last a couple of weeks minimum right?) ? Please can you be specific so we can see your method at work. I will be the first to congratulate you when we see the results.

haha it's a little trickier than that, but as i have posted elsewhere, if the bubble paradigm holds then we will definitely see prices no lower than $450 and likely see prices no lower than $600.

Then that's NOT a bull trap. Its just a correction wave on the way up to ATHs!  Enough with this bulltrap crap. It just sounds condescending.

[QuestionAuthority]

yeah, the newbs need to stop going around finding news to justify price movements. market forces are generally much more powerful on the mid-term scale anyway. what we're seeing is a healthy mid-term correction to a very large bulltrap. this shouldn't be news to anyone, although i know many didn't believe it when it was mentioned on the way up.

whether news should impact the price or not doesn't matter when so many are watching out for it as a means to pick up more coin.

also to ignore the news means you have no doubt as to the long term prospects of btc, a lot of people don't share that sentiment yet so like to be prepared to bail.

But you can't use the media as your only means of justifying trade in any market and that seems to be what people are doing.

well let me break the oldest "trick" in trading history, buy on rumors sell on news, well it is risky but as well speculation is....

[Mythul]

Anybody dare to guess the bottom ? $350 is it plausible ?

[arepo]

In my opinion, for this to be a "bull trap" and not a continuation of the upward rally from October, prices need to go below 380. Right??!! Otherwise this correction down from 1240 was a bear trap.

semantic arguments aside, i only call it a bulltrap because it is clear that the recent price gains were unsustainable and liable to be retraced in the coming weeks.