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

[Miz4r]

Last year's reversal was so clean. Suddenly it turned bull. Just like that. Everyone knew. In a second the bear market was just over.

Why is it being to fudge-y this time? Come on bulls! Bitcoin is teh future!!1

Last year's reversal was far from clean, bears in denial kept showing their bear charts for months after the reversal had already happened. Only after the Silk Road flash crash and the quick price recovery the bears started to lose their confidence.

By the way, nice inverse head and shoulders forming on the 15m chart right now. Target $470-472 in 2-3 days.

[TERA]

I think bitcoin hoarders should be featured in an episode of hoarders in a house with a bunch of junk and roaches.

[magicmexican]

I think bitcoin hoarders should be featured in an episode of hoarders in a house with a bunch of junk and roaches.

You must be the fun person to hang around with

[dreamspark]

Perfect shorting spot if you managed to buy in the mid $300's

[magicmexican]

Perfect shorting spot if you managed to buy in the mid $300's

Its far from perfect, more like perfect if you are greedy and want some small gains

[minerpumpkin]

Last year's reversal was so clean. Suddenly it turned bull. Just like that. Everyone knew. In a second the bear market was just over.

Why is it being to fudge-y this time? Come on bulls! Bitcoin is teh future!!1

Last year's reversal was far from clean, bears in denial kept showing their bear charts for months after the reversal had already happened. Only after the Silk Road flash crash and the quick price recovery the bears started to lose their confidence.

By the way, nice inverse head and shoulders forming on the 15m chart right now. Target $470-472 in 2-3 days.

Whoa, people are recognizing bullish patterns in this thread? I think the reversal has been confirmed 

[rpietila]

and by confidence , I mean confidence in the exchanges (rpitiela said something similar yesterday)

Yes, I think this is the main issue with Bitcoin now. All other news has been quite positive if you just look at the news, not the price.

Luckily people forget easily and this will not delay the uptrend for years, just months.

I am on the opinion that dipping below 382-400 support, even temporarily, has prolonged the plateau before uptrend.

If we visit <380 area for any longer time, the uptrend is further postponed.

Nothing has happened that would destroy Bitcoin's long term prospects, so I find this a buy zone and am buying. If you want to sell, PM me.

[TERA]

There are two times I short:

1) With orders set in advance for spikes above ema lines which shouldn't reachable yet.

2) After volume has died for a while and all the indicators start turning down.

I wouldn't recommend just randomly shorting into a budding uptrend of unknown magnitude after decent volume .

[dreamspark]

Perfect shorting spot if you managed to buy in the mid $300's

Its far from perfect, more like perfect if you are greedy and want some small gains

Firstly as a day trader its all about multiple small gains with your trading stash, also do you seriously think that we're more likely to go up to $5xx or at some point in the next week of China Fud we will go down to somewhere like $360-$370? Its not greedy its riding the swings, not everybody taking short positions is screaming for a crash to $100 and saying bitcoin is doomed.

[Mervyn_Pumpkinhead]

What you are seeing, is the process where some of the money from China is moving to western exchanges, mainly BTC-E. The reason is, that to some people, holding money outside China is more valuable and there are also plenty of western gamblers in Chinese markets. There will be many of these waves where people buy up in China, giving a temporal rise, and then sell in BTC-E bringing on another drop. Every wave will sink lower and rise lower then the previous one.

[magicmexican]

Perfect shorting spot if you managed to buy in the mid $300's

Its far from perfect, more like perfect if you are greedy and want some small gains

Firstly as a day trader its all about multiple small gains with your trading stash, also do you seriously think that we're more likely to go up to $5xx or at some point in the next week of China Fud we will go down to somewhere like $360-$370? Its not greedy its riding the swings, not everybody taking short positions is screaming for a crash to $100 and saying bitcoin is doomed.

I think shorting now hoping to see 360 or below is kinda greedy, but if you want to do it i would atleast wait for 2600+ on huobi because its the local 50% fibo level that could be the resistance:

[dreamspark]

Perfect shorting spot if you managed to buy in the mid $300's

Its far from perfect, more like perfect if you are greedy and want some small gains

Firstly as a day trader its all about multiple small gains with your trading stash, also do you seriously think that we're more likely to go up to $5xx or at some point in the next week of China Fud we will go down to somewhere like $360-$370? Its not greedy its riding the swings, not everybody taking short positions is screaming for a crash to $100 and saying bitcoin is doomed.

I think shorting now hoping to see 360 or below is kinda greedy, but if you want to do it i would atleast wait for 2600+ on huobi because its the local 50% fibo level that could be the resistance:

If we get there yeah, see it as profit taking from $350 then rather than shorting... You said yourself in Ristos thread that you can see the bear trap to $360-$370 Im just placing a small bet on it rather than just predicting it

[magicmexican]

Stamp/huobi so different, stamp already at the double top of 410 but Huobi has still longway to climb to that 2700

[dreamspark]

899 btc buy wall flashed at $400 and removed and now at $405.

[Hunyadi]

899 btc buy wall flashed at $400 and removed and now at $405.

Nice! It begins.

[dreamspark]

899 btc buy wall flashed at $400 and removed and now at $405.

Nice! It begins.

Removed again though, more than likely someone getting their sells filled.

[porcupine87]

Stamp/huobi so different, stamp already at the double top of 410 but Huobi has still longway to climb to that 2700

What double top?
Srious buying on stamp...

[magicmexican]

oh wow we could actually finish the day @420+

[Hunyadi]

899 btc buy wall flashed at $400 and removed and now at $405.

Nice! It begins.

Removed again though, more than likely someone getting their sells filled.

Good action

[MinermanNC]

Good morning, well is the market finally coming to its senses? much better to see then when I went to bed lol