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

[ChartBuddy]

Explanation

[windjc]

That is an ugly shooting star candle on the 4hr chart.

[TERA]

damn that was crazy. half of my standing short orders got hit. i was down at one point and thought the bulls had gotten one by me but now im up 4%.

I'm curious as to where you are going to close those shorts on the way down. This is what some people don't understand. Bears actually help to prevent crashes when they take their profits and close short positions. It's bulls with leverage getting margin calls that really make it tank.

I already chickened out and closed at 490 to take the 4% profit that was on the table . I will reopen new ones based on 15m, 1h, and 4h charts.

[chessnut]

do timescales mean nothing to you? we made a higher high on the 1-day scale. not saying that this bullish price action is not significant, but since we've been making lower highs for the past 4 months, i'm pretty sure your statement is premature.

If this wasnt playing out exactly to my expectations, I might agree with you. never mind the chart, its the sentiment and fundamentals that are crying out reversal right now.

and on a large time scale, we have been diverging for many days.

[windjc]

People who sold at the bottom, when will you learn. Bears who sold at $450ish when will you buy back ?

So we've hit a bottom and now we are in a bull market again? $435 was the low that we will never see again?

438 actually.

Depends which market you look at.

You probably do not want to be quibbling over a few bucks when this baby blows out of the pennant to the upside, a couple of weeks early too ...

You are the one who is quibbling. Go look in the mirror. I'll keep an eye on the pennant.

[chessnut]

People, four months ago, this was exactly the game plan!! and some of you are letting it go by, or making a loss!

[windjc]

People, four months ago, this was exactly the game plan!! and some of you are letting it go by, or making a loss!

What was the gameplan? I missed it.

[bangersdad]

People, four months ago, this was exactly the game plan!! and some of you are letting it go by, or making a loss!

[chessnut]

People, four months ago, this was exactly the game plan!! and some of you are letting it go by, or making a loss!

What was the gameplan? I missed it.

buy on the dip to cerca 500. this playing out as a wedge, just like five other bubbles have done, with uncanny resemblance.

[windjc]

People, four months ago, this was exactly the game plan!! and some of you are letting it go by, or making a loss!

What was the gameplan? I missed it.

buy on the dip to cerca 500. this playing out as a wedge, just like five other bubbles have done, with uncanny resemblance.

There are some things different about this wedge.

[chessnut]

People, four months ago, this was exactly the game plan!! and some of you are letting it go by, or making a loss!

What was the gameplan? I missed it.

buy on the dip to cerca 500. this playing out as a wedge, just like five other bubbles have done, with uncanny resemblance.

There are some things different about this wedge.

namely......??
 
and yet you call it a wedge?

[arepo]

do timescales mean nothing to you? we made a higher high on the 1-day scale. not saying that this bullish price action is not significant, but since we've been making lower highs for the past 4 months, i'm pretty sure your statement is premature.

If this wasnt playing out exactly to my expectations, I might agree with you. never mind the chart, its the sentiment and fundamentals that are crying out reversal right now.

and on a large time scale, we have been diverging for many days.

longer time-scale indicators point to a downtrend that is gaining momentum. there is some divergence on the shorter time frames, but that is what bulltraps in a bear market look like.

take a look at the daily-scale CMF and MACD:


http://bitcoincharts.com/charts/bitstampUSD#rg150zigDailyztgSzm1g10zm2g25zxzi1gCMFzi2gMACDzvzl

only today's data point is diverging, and today's candle is still premature. so, again, we've got countertrend action, but only on the daily scale, sub-daily if we consider a possible retracement in the next 12 or so hours. i would close that long soon, if i were you. you've already made some nice profit on it.

[TERA]

People, four months ago, this was exactly the game plan!! and some of you are letting it go by, or making a loss!

What was the gameplan? I missed it.

buy on the dip to cerca 500. this playing out as a wedge, just like five other bubbles have done, with uncanny resemblance.

This is not like the other rallies at all:

[chessnut]

do timescales mean nothing to you? we made a higher high on the 1-day scale. not saying that this bullish price action is not significant, but since we've been making lower highs for the past 4 months, i'm pretty sure your statement is premature.

If this wasnt playing out exactly to my expectations, I might agree with you. never mind the chart, its the sentiment and fundamentals that are crying out reversal right now.

and on a large time scale, we have been diverging for many days.

longer time-scale indicators point to a downtrend that is gaining momentum. there is some divergence on the shorter time frames, but that is what bulltraps in a bear market look like.

take a look at the daily-scale CMF and MACD:


http://bitcoincharts.com/charts/bitstampUSD#rg150zigDailyztgSzm1g10zm2g25zxzi1gCMFzi2gMACDzvzl

only today's data point is diverging, and today's candle is still premature. so, again, we've got countertrend action, but only on the daily scale, sub-daily if we consider a possible retracement in the next 12 or so hours. i would close that long soon, if i were you. you've already made some nice profit on it.

Fundamentals win, although I say chart is bullish. the bears have too much to lose, and they will. there is evidently too much buying pressure, not even the very confirmation of your worst fears can bring this market down as seen yesterday.

THE NOOBS HAVE SOLD!!

[Broseph Stalin]

April fools rally? "To the moon.. nah, just kidding! Got ya!"

[fonzie]

Dranwing lines´n stuff.

NEW DOWNWARDS CHANNEL CONFIRMED

[TERA]

damn what a dumb move closing that short with peanuts for profit.

[chessnut]

People, four months ago, this was exactly the game plan!! and some of you are letting it go by, or making a loss!

What was the gameplan? I missed it.

buy on the dip to cerca 500. this playing out as a wedge, just like five other bubbles have done, with uncanny resemblance.

This is not like the other rallies at all:

... Just move that yellow circle a bit to the right..... and hey presto!

[600watt]

i will never learn it.

when it was in 600 territory i considered selling* but didn´t, since i believed it will go up. when it came down to 435 i started to panic. i did not sell, but promised myself: next time it is 600 territory i will sell FOR SURE, because this 400 territory is a pain when you have no fiat to buy.

but when there is the smallest move upwards (like curently) all my desire to sell is gone. i just cannot do it. having sold and then see the price go up seems to be an even harder pain then panicing about total loss.



*when i talk about selling i mean 10 - 20 % of my stash

Selling on the possible recovery is asking to get trapped, sell either when its really high and is for sure going to be a correction, or when there are fresh negative news and market is tanking way above previous bottoms

sounds good. please send a pm the next time i should sell  

[TERA]

People, four months ago, this was exactly the game plan!! and some of you are letting it go by, or making a loss!

What was the gameplan? I missed it.

buy on the dip to cerca 500. this playing out as a wedge, just like five other bubbles have done, with uncanny resemblance.

This is not like the other rallies at all:

... Just move that yellow circle a bit to the right..... and hey presto!

That's not going to fix that the EMA has been breached twice and is now sloping downwards.