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

[pdawg]

[TakeTheSkyRoad]

I'm reading tea leaves since 5years and I'm not appointed , this is really useful.

Maybe but until we find out if MtGox is going to sort it's act out and if the exchanges in China and really going to be ok and escape the authorities then TA is fairly pointless as the price will be news driven.

I'm not saying TA is useless, just not useful at the moment.

[adamstgBit]

removed bid wall and placed it on the front lines

very nice
much confidence
such balls

[oda.krell]

[snip]

+1   Best analysis I've seen all day

Can anyone explain what this chart shows / predicts to us plebs?

It shows pretty much nothing. Or at least not what TERA thinks it shows. It's a weekly MACD crossover. Problem is, at that time frame the MACD is so lagging that, if you look at the actual chart, if you would have sold at the crossover of the 1w MACD back then (probably at around 100 to 110), you better had been on your toes because price never went long below 70 again, and the MACD was still in deep red territory as the price went back to 150!

tl;dr Don't rely on a single indicator, especially not if it moves at the speed of molasses

I don't use the really long indicators as buy or sell signals either. Rather, they are more like dont-buy and dont-sell indicators. I will have already used a shorter indicator to buy or sell already by the time it has happened. However, what the long indicator does tell me, is, that there is no rush to buy back in right here, right around the time that is crossed and the area that it crossed - this is a resistance level now. I should look for a lower price using a shorter indicator.

agreed, if phrased like that. we're in a consolidation phase strongly leaning towards bear market, and only a select few uberbulls don't see it like that. but then again, as long as they hold and don't sell in the end, they're golden, the primary upwards trend will continue eventually

[adamstgBit]

removed bid wall and placed it on the front lines

very nice
much confidence
such balls

and he moves it up again,

good show!

[pietje]

removed bid wall and placed it on the front lines

very nice
much confidence
such balls

And he just moved it up even further.
Someone wants to buy bitcoins fast.

and then someone sells 900 btc into the wall

[fonzie]

byebye bidwall

[adamstgBit]

881.62BTC   a minute ago   734.0 ^

wow he just hit market.  

[magicmexican]

The most interesting thing about this crash is the side bet in the speculation forums for 2BTC that stamp/btc-e would go =<600$

[empowering]

You're welcome  

https://www.tradingview.com/v/4hKqJpci/

Sure... registered 2Months ago...what an expert.

I've been doing technical analysis on stocks for 5 years. WTF does it matter that I just switched to a new platform? You are probably just a bull that was rapped.

https://www.tradingview.com/v/8GECeZDD/
https://www.tradingview.com/v/w4aVoWp7/
https://www.tradingview.com/v/KBkrn1nA/
https://www.tradingview.com/v/EDEBLl8d/
https://www.tradingview.com/v/4hKqJpci/
https://www.tradingview.com/v/abpCAB3z/
https://www.tradingview.com/v/9NKyVctj/

Technical analysis is well known to be a false science .... keep reading the future in shit ...what an expert .. 5years of false science ? nice !

well known to be a false science... ok then lets call it an "art" instead....

Fact is, for what ever reasons if you are half good at TA, and have experience and sense to know and when to use it, and what its limitations are and you use it as just another tool, then it works a decent amount of times, enough to make it worth it!... even a bat shit crazy loon can see this... and NOTHING works all of the time, and nothing could otherwise there would not, there could not be a market as we know it!  

Using TA sure as hell beats just sticking your finger in the air and trying to guess the direction of the wind... and can be very useful in helping you access price movements, which is useful and important if you are short term trading... again, unless you think that justtotal  wild guess work and gut feelings will do for your entery and exit points etc ,  and if you do that is up to you... but as for trying to convince others that is the best way, the only way to help you choose entry and exit points? I think that is far from science too... also if it works for some people let them get on with it...    

[bjornw]

With the big drop in prices (especially Gox) the last 24 hours I was wondering if all exchanges were changing at the same percentages, and if not how would they differ. Since comparing CNY with USD and BTC with LTC is a bit tricky (apples and pears etc) I made myself a chart containing indexed prices (check this wikipdia entry if you want to know more about indices: http://en.wikipedia.org/wiki/Price_index#Normalizing_index_numbers )

I used  02/06/2014 -- 4:00:00pm UTC as the index base. A bit arbitrary I know, but that was the moment I started collecting Huobi ticker data and I did want to include Huobi since it is one of the largest exchanges.

This chart will make it easy to compare multiple markets and their relative volatility. I found it useful myself, and since I already made it I thought why not share it :

http://charts-bfxdata.rhcloud.com/graphExchangeComparison.php

Let me know if you find this useful. If so I will keep it available if not, also fine.

cheers

Bjorn

[N12]

agreed, if phrased like that. we're in a consolidation phase strongly leaning towards bear market, and only a select few uberbulls don't see it like that. but then again, as long as they hold and don't sell in the end, they're golden, the primary upwards trend will continue eventually

Not necessarily …

"From my point of view, the investors are the big gamblers. They make a bet, stay with it, and if all goes wrong, they lose it all" - Jesse Livermore

 

[magicmexican]

agreed, if phrased like that. we're in a consolidation phase strongly leaning towards bear market, and only a select few uberbulls don't see it like that. but then again, as long as they hold and don't sell in the end, they're golden, the primary upwards trend will continue eventually

Not necessarily …

"From my point of view, the investors are the big gamblers. They make a bet, stay with it, and if all goes wrong, they lose it all" - Jesse Livermore

 

There would be no fun if you knew that you cant lose it all

[N12]

I'd like to add I only agree with this quote if you invest all, or near all you have. And that is the case for many "bulls" here.

How many have swollen balances and barely taken out any profits even though their balances grew 10, 100, 1000 fold?

[magicmexican]

Gox is buying, ATH is coming

[7thKingdom]

I'd like to add I only agree with this quote if you invest all, or near all you have. And that is the case for many "bulls" here.

How many have swollen balances and barely taken out any profits even though their balances grew 10, 100, 1000 fold?

based on the old money that moved yesterday, a few less than a couple days ago.  Definitely some solid profit taking happening yesterday during the rundown.

https://blockchain.info/charts/bitcoin-days-destroyed-min-year

[adamstgBit]

I'd like to add I only agree with this quote if you invest all, or near all you have. And that is the case for many "bulls" here.

How many have swollen balances and barely taken out any profits even though their balances grew 10, 100, 1000 fold?

my guess is very few, I cashed in some profits at all kinds of prices, and its no secret i'm very bullish, but i'm poor.... so that might have somthing to do with it.

[ChartBuddy]

Explanation

[magicmexican]

I'd like to add I only agree with this quote if you invest all, or near all you have. And that is the case for many "bulls" here.

How many have swollen balances and barely taken out any profits even though their balances grew 10, 100, 1000 fold?

my guess is very few, I cashed in some profits at all kinds of prices, and its no secret i'm very bullish, but i'm poor.... so that might have somthing to do with it.

Go big or go home

[humanitee]

I'd like to add I only agree with this quote if you invest all, or near all you have. And that is the case for many "bulls" here.

How many have swollen balances and barely taken out any profits even though their balances grew 10, 100, 1000 fold?

my guess is very few, I cashed in some profits at all kinds of prices, and its no secret i'm very bullish, but i'm poor.... so that might have somthing to do with it.

Go big or go home

Once your initial investment is recouped it's remarkably easier to hold through it all. Source: me