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

[MatTheCat]

There is a lot of action going on right now.   The price hasn't swung all that much, but there are mucho coin changing hands across all exchanges right now.   Would be fun to head into the weekend with a rally!

I strongly suspect that our whale market engineering friends shall see to it that your wish is granted by the time the weekend is out.

[Taras]

here




More http://imgur.com/a/eNTR1#lWHqwDV

Thank you!

I hope to see more updates

[Richy_T]

I love looking back at the beginning or middle of this thread.  This thread is a real treasure and should be preserved for history's sake.

Some tell of a time of old before this thread when there was another thread just like this one. You might want to go track it down.

[ChartBuddy]

Explanation

[shmadz]

The fight is on with low-medium volume!!! 

Ha! Just wait until Wally the Wall Guy buys his own wall(s) out! Then we shall see some proper volume. Especially when all the noobs see a PANIC BREAKOUT!!!

we are still comfortably within the channel.

continue to sell the spikes and buy the dips.

until we break this somewhat random formation of lines I chose, that's what I'm doing.

[Raystonn]

The fight is on with low-medium volume!!! 

Ha! Just wait until Wally the Wall Guy buys his own wall(s) out! Then we shall see some proper volume. Especially when all the noobs see a PANIC BREAKOUT!!!

we are still comfortably within the channel.

continue to sell the spikes and buy the dips.

until we break this somewhat random formation of lines I chose, that's what I'm doing.

Your bottom line is wrong.  Connect the 3 bottom spikes.  That's a much stronger line of support, and it's also much more bullish.

[byronbb]

The fight is on with low-medium volume!!! 

Ha! Just wait until Wally the Wall Guy buys his own wall(s) out! Then we shall see some proper volume. Especially when all the noobs see a PANIC BREAKOUT!!!

we are still comfortably within the channel.

continue to sell the spikes and buy the dips.

until we break this somewhat random formation of lines I chose, that's what I'm doing.

Your bottom line is wrong.  Connect the 3 bottom spikes.  That's a much stronger line of support, and it's also much more bullish.

I disagree. The bottom line is based on high volume bearish candles for good reason.

[shmadz]

The fight is on with low-medium volume!!!  

Ha! Just wait until Wally the Wall Guy buys his own wall(s) out! Then we shall see some proper volume. Especially when all the noobs see a PANIC BREAKOUT!!!

we are still comfortably within the channel.

continue to sell the spikes and buy the dips.

until we break this somewhat random formation of lines I chose, that's what I'm doing.

Your bottom line is wrong.  Connect the 3 bottom spikes.  That's a much stronger line of support, and it's also much more bullish.

I prefer to ignore that spike through the bottom. I'm not good at TA, so I trust my feelings a little more than others might. I think I heard someone refer to that once as "trading naked"

anyways, here is the chart with the line you suggest.



only time will tell...

[Raystonn]

The fight is on with low-medium volume!!! 

Ha! Just wait until Wally the Wall Guy buys his own wall(s) out! Then we shall see some proper volume. Especially when all the noobs see a PANIC BREAKOUT!!!

we are still comfortably within the channel.

continue to sell the spikes and buy the dips.

until we break this somewhat random formation of lines I chose, that's what I'm doing.

Your bottom line is wrong.  Connect the 3 bottom spikes.  That's a much stronger line of support, and it's also much more bullish.

I disagree. The bottom line is based on high volume bearish candles for good reason.

The recent low candle he wasn't including before has more volume than one of the lows he was using.

[Parazyd]

Good morning everyone! Today we should finally see some movement.

[eat_more_fruit]

Monkey thinks 683 in 8 hours.

Oh well it's a friday night
https://i.imgur.com/SkRsGYX.jpg

[beetcoin]

while i'm not advocating for a crash, it's just not as fun when things are moving like a freight train 

[shmadz]

Your bottom line is wrong.  Connect the 3 bottom spikes.  That's a much stronger line of support, and it's also much more bullish.

I disagree. The bottom line is based on high volume bearish candles for good reason.

The recent low candle he wasn't including before has more volume than one of the lows he was using.

These touchpoints are chosen pretty much randomly, just by feel.

please do not read into them more than that/

[Raystonn]

You need to understand that whatever lines of support/resistance is used by the most money becomes the most valid.  Most financial markets are keen on drawing lines connecting 3 or more highs or lows.  Anything less than 3 is an arbitrary line.  If 3 line up, it's much more rare.

[shmadz]

You need to understand that whatever lines of support/resistance is used by the most money becomes the most valid.  Most financial markets are keen on drawing lines connecting 3 or more highs or lows.  Anything less than 3 is an arbitrary line.  If 3 line up, it's much more rare.

ok, I'm not a complete neophyte.

I'm not sure why but I chose the point where I thought resistance had become support as a close enough indicator for my third point.



this may or may not have been foolish, we will have to wait to find out.

your point is of course, totally valid. unless the price breaks down below your line, then I agree it is the stronger line.

[hyphymikey]

RALL-Y! RALL-Y! RALL-Y! RALL-Y! RALL-Y! RALL-Y! RALL-Y!

[ChartBuddy]

Explanation

[nioc]

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[Davyd05]

I can't wait till someone buys that 655 1k wall

munch munch

[derpinheimer]

I can't wait till someone buys that 655 1k wall

munch munch

haha! I hope this guy had no intent to sell and wakes up crying at his loss of 1.1k bitcoin (Well, ~350ATM)