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

[HairyMaclairy]

Would you prefer Proudhon?

[Majormax]

These so far unsuccessful about 5 attempts to break below $6k don't necessarily play well for the bear case, but they do not come anywhere close to guaranteeing a bullish scenario either, because for me to feel comfortable and out of the woods, then BTC price is going to have to return comfortably into the area in which it is testing $10k resistance and even perhaps breaking through such resistance - even if such breaking through is NOT sustained, I might become a bit more comfortable that the bottom is already in, and that our current crypto winter (baby winter) is NOT going to be as bad as the 2014-2015 crypto winter (arguably dragging into 2016).

I like your analysis generally. 

Most posters, as you point out, come out with proclamations based on either nothing, or misread/false facts.

Given that nobody has a crystal ball, it takes a bit of skill and experience to express a cogent scenario. Making cases for alternative price moves is nearly always the best way.


'Baby Winter'  :  could be possible, and it helps the case for the bottom being already in. If its a full Winter, then a bottom in the 2-3k range is more possible. I hate the idea of that, but the market often makes us take the worst tasting medicine.

Whichever way, it will be a long climb out, and patience is needed.

[toknormal]

So what happens now ?

[Totscha]

So what happens now ?

Now we fall...

[Yaplatu]

It's complicated ... we need new bulls to return bullish     HOLD FOREVER 

[Totscha]

It's complicated ... we need new bulls to return bullish     HOLD FOREVER 

You spelled n00bs wrong 

[HairyMaclairy]

Now we fall...

More likely we just keep breaking sideways until we achieve a trigger.

It's complicated ... we need new bulls to return bullish     HOLD FOREVER  

You spelled n00bs wrong  

You sound like someone who sold the top of the market at $3k.  

[El duderino_]

@infofront



you just simply do NOT let one hanging on the NR of the beast      

[El duderino_]

So what happens now ?

Now we fall...

[serveria.com]

So what happens now ?

Now we fall...

It means he's a nocoiner or panic-sold low or a paid bear shill 

[Totscha]

Now we fall...

More likely we just keep breaking sideways until we achieve a trigger.

It's complicated ... we need new bulls to return bullish     HOLD FOREVER  

You spelled n00bs wrong  

You sound like someone who sold the top of the market at $3k.  

1. Feels like it's 50/50 for sideways/down.

2. Nope, I did sell some. But it was all at $10k+.

It means he's a nocoiner or panic-sold low or a paid bear shill 

I'm such a dumbass. I've been doing it for free...

[ivomm]

So what happens now ?

Now we fall...

Or just a bear trap. This is a classical falling wedge pattern btw.  
https://en.wikipedia.org/wiki/Wedge_pattern
"When this pattern is found in an uptrend, it is considered a bullish pattern, as the market range becomes narrower into the correction, indicating that the downward trend is losing strength and the resumption of the uptrend is in the making. "
Since the creation of Bitcoin we are in an uptrend, so its resumption is in the making.
I expect a strong breakout soon. Moreover, any moment CFTC will approve ICE futures (the so called bakkt) which is with an actual buying of bitcoins. So we may see above 10K sooner than expected!

[Totscha]

So what happens now ?

Now we fall...

Or just a bear trap. This is a classical falling wedge pattern btw.  
https://en.wikipedia.org/wiki/Wedge_pattern
"When this pattern is found in an uptrend, it is considered a bullish pattern, as the market range becomes narrower into the correction, indicating that the downward trend is losing strength and the resumption of the uptrend is in the making. "
Since the creation of Bitcoin we are in an uptrend, so its resumption is in the making.
I expect a strong breakout soon. Moreover, any moment CFTC will approve ICE futures (the so called bakkt) which is with an actual buying of bitcoins. So we may see above 10K sooner than expected!

If we break out to $10k+ very soon, we're probably not going to hold that price point for long. It would most likely lead to lower lows (sub $5k).

I'd much prefer we go sideways for a while.

[marcus_of_augustus]

So what happens now ?

... bitcoiners accumulate, everyone else wets their pants.

[ivomm]

So what happens now ?

Now we fall...

Or just a bear trap. This is a classical falling wedge pattern btw.  
https://en.wikipedia.org/wiki/Wedge_pattern
"When this pattern is found in an uptrend, it is considered a bullish pattern, as the market range becomes narrower into the correction, indicating that the downward trend is losing strength and the resumption of the uptrend is in the making. "
Since the creation of Bitcoin we are in an uptrend, so its resumption is in the making.
I expect a strong breakout soon. Moreover, any moment CFTC will approve ICE futures (the so called bakkt) which is with an actual buying of bitcoins. So we may see above 10K sooner than expected!

If we break out to $10k+ very soon, we're probably not going to hold that price point for long. It would most likely lead to lower lows (sub $5k).

I'd much prefer we go sideways for a while.

Sub 5K is too much. Even now the miners are with a very slim profit. At 5K only those who have free electricity (may be less than 1%) will have any profit in terms of cents. Once we are out of the falling wedge pattern, the trade differs of what we've had before. So even if we don't hold 10K for long, the correction will not be in the 6K area, but much higher - say 8K. Then the upward trend will resume until the next resistance and so on.

[HairyMaclairy]

I'm such a dumbass. I've been doing it for free...

Merited for a great sense of humour.

[Phil_S]

Looks like a foot.

Bullish.

[Totscha]

Looks like a foot.

Bullish.

So you're telling me that the bullish trend is afoot... ?

[Phil_S]

Unless we stab the toe...

[TopTort777]

So what happens now ?

The Mayor is gonna be more sad than usual today ?

This is gonna be a market shark. All the big btc holders gonna continue eating little fish in the cryptocurrency sea.