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

[ChartBuddy]

Explanation

[JayJuanGee]

this is the first time ever I see a 1,5k Wall on Huobi.

beginning to scare me.  

there, I took my walls down just for you  

thank you, what a relief.  

*buy buy buy

YES!!!!    I have been wondering how low this bear trap is going to go b/c I would prefer to buy a lil MOAR at the lowest point in this series. I was thinking that if it gets down to $420-ish in the next 24 hours... that is about as low as we can expect... absent some kind of negative news.... which negative news (or FUD) is always possible to help to drive some additional downward price pressure(s). 

In sum, I am thinking maybe to buy a little bit at $420-ish... if we get there.  I welcome to hear any other theories about the extent of downard price movement, here.

[chessnut]

this is the first time ever I see a 1,5k Wall on Huobi.

beginning to scare me.  

there, I took my walls down just for you  

thank you, what a relief.  

*buy buy buy

YES!!!!    I have been wondering how low this bear trap is going to go b/c I would prefer to buy a lil MOAR at the lowest point in this series. I was thinking that if it gets down to $420-ish in the next 24 hours... that is about as low as we can expect... absent some kind of negative news.... which negative news (or FUD) is always possible to help to drive some additional downward price pressure(s). 

In sum, I am thinking maybe to buy a little bit at $420-ish... if we get there.  I welcome to hear any other theories about the extent of downard price movement, here.

If you like EW,

There are some very good counts to suggest we have hit the bottom, but they are subject to testing soon.
IF we hit 420, it is all about the way we hit 420, not the price its self. If it crawls down to 420 and the RSI gives a buy signal, then it might be a good idea to buy when it turns.
problem is though, that if we enter the range of 380-400ish there is really no price history from stopping a 320 test. 320 is a no brainer buy so you'd rather have some fiat down there.
but if we can rally past 460 in style soon, I'd go full bitcoin. thats confirming quite a strong and aggressive upside count.
so maybe I'd argue not to catch a falling knife because when you can have a high confidence trade above 420. especially when a robust H&S are set in place.

[p0peji]

Please add boredom as an option in the poll. 

[eiskalt]

Bearish again - Target: 200$/BTC

[ShroomsKit]

I don't understand why people do this. They want to buy a few coins but only if it reaches 420. So they're gonna watch the price hoover around 430 for a day knowing it might very well go up again from there. So when the price does go up they either have no coins or panic buy at 440.
Is saving 10 dollars per coin really that important? Assuming the price goes up from that point you have profit either way. And if it doesn't reach 420 you messed up.

[ChartBuddy]

Explanation

[ShroomsKit]

Bearish again - Target: 200$/BTC

200? Because at 200 it suddenly goes up again? Not 210? Or 180? Or 350?
Have you considered throwing dice for your predictions?

[dreamspark]

No but with all the uncertainty theres no point in rushing in either when were likely to bounce around here for a while.

[eiskalt]

200? Because at 200 it suddenly goes up again? Not 210? Or 180? Or 350?

200 is target. Could be 210, could be 180. could not be 350.

Have you considered throwing dice for your predictions?

Could not find my dice, had to draw lines instead. 

[boumalo]

this is the first time ever I see a 1,5k Wall on Huobi.

beginning to scare me.  

there, I took my walls down just for you  

thank you, what a relief.  

*buy buy buy

YES!!!!    I have been wondering how low this bear trap is going to go b/c I would prefer to buy a lil MOAR at the lowest point in this series. I was thinking that if it gets down to $420-ish in the next 24 hours... that is about as low as we can expect... absent some kind of negative news.... which negative news (or FUD) is always possible to help to drive some additional downward price pressure(s). 

In sum, I am thinking maybe to buy a little bit at $420-ish... if we get there.  I welcome to hear any other theories about the extent of downard price movement, here.

If you think it is a bear trap and we will go up a lot soon you should buy now!

We have been in a downtrend for a while with a few bull traps

[chessnut]

I don't understand why people do this. They want to buy a few coins but only if it reaches 420. So they're gonna watch the price hoover around 430 for a day knowing it might very well go up again from there. So when the price does go up they either have no coins or panic buy at 440.
Is saving 10 dollars per coin really that important? Assuming the price goes up from that point you have profit either way. And if it doesn't reach 420 you messed up.

I tend to agree. It's not about a particular price, it's about high probability reversal signals. when you got the signal, just buy at a price you think you can get.

There are sometimes prices where one should expect reversals, but its usually best to wait for evidence of the reversal in that case none the less.

[ShroomsKit]

200? Because at 200 it suddenly goes up again? Not 210? Or 180? Or 350?

200 is target. Could be 210, could be 180. could not be 350.

Have you considered throwing dice for your predictions?

Could not find my dice, had to draw lines instead. 

Target for what? What happens at 200?

[mooncake]

Until everyone cries gloom and doom, then this bearish market is over.

[eiskalt]

Target for what?

For bitcoin price.

What happens at 200?

Bitcoin price reaches support. You may consider buying then.

[ShroomsKit]

Target for what?

For bitcoin price.

What happens at 200?

Bitcoin price reaches support. You may consider buying then.

How many millions has your TA made you so far?

[dreamspark]

Until everyone cries gloom and doom, then this bearish market is over.

That already happened a couple of time as well though. But people always want cheaper coins.

[JorgeStolfi]

Huobi's order book is insane.  Must be kids playing traders while their parents are away.  Or the traders are all drunk.

[rpietila]

Until everyone cries gloom and doom, then this bearish market is over.

That already happened a couple of time as well though. But people always want cheaper coins.

It will not change just by the current people passing the bag on. The new cohort of 3.2x more people is what will take it higher.

The current players' desire to have cheaper coins is no more significant then.

[eiskalt]

How many millions has your TA made you so far?

Zero millions - I am not trading.