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

[Wandererfromthenorth]

This is bad, we are touching the Long term trend line at Stamp at 572 and nobody is buying wtf???

Of course nobody is buying. There is a huuuge major event coming up that controls the whole market and could put us down by a massive amount.

I know about the silk road auction and I know that until the 27th we won't see huge spikes, I'm just saying that nobody seems to be defending the VERY important long term trend line. A Big dump could take us way below that trend line, which would be TERRIBLE for BTC.

And who is supposed that defend that (imo useless line)? The Bitcoin police?
Nobody wants to buy because everyone is shitting their pants because of a small auction. It's that simple.

The market itself should defend it, buyers and sellers.   That trend line is no bullshit, it predicted crucial points on the graph flawlessly and as long as we are in that trend line BTC is in a long term uptrend (from its creation pretty much).

I you think breaking that trend line is no big deal for bitcoin well i disagree completely.


Of course everyone is waiting for the result of the auction, but I would expect btc to not break that trend line at least BEFORE the auction lol

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[Bitcoin_is_here_to_stay]

This is bad, we are touching the Long term trend line at Stamp at 572 and nobody is buying wtf???

Of course nobody is buying. There is a huuuge major event coming up that controls the whole market and could put us down by a massive amount.

I know about the silk road auction and I know that until the 27th we won't see huge spikes, I'm just saying that nobody seems to be defending the VERY important long term trend line. A Big dump could take us way below that trend line, which would be TERRIBLE for BTC.

And who is supposed that defend that (imo useless line)? The Bitcoin police?
Nobody wants to buy because everyone is shitting their pants because of a small auction. It's that simple.

The market itself should defend it, buyers and sellers.   That trend line is no bullshit, it predicted crucial points on the graph flawlessly and as long as we are in that trend line BTC is in a long term uptrend (from its creation pretty much).

I you think breaking that trend line is no big deal for bitcoin well i disagree completely.


Of course everyone is waiting for the result of the auction, but I would expect btc to not break that trend line at least BEFORE the auction lol

No trend can last forever.

TERA actually says that this trend line is in slightly different place than most people assume and has been broken already couple weeks ago:

https://www.tradingview.com/v/FrBDVR6H/

[ThomasCrowne]

Well hell.  I didn't like reading what Terra had to say on tradeview not one little bit.

[gentlemand]

Tera is a pathological doomster, even if they seem strangely unaware of it or just refuse to acknowledge it.

[David M]

TERA actually says that this trend line is in slightly different place than most people assume and has been broken already couple weeks ago:

https://www.tradingview.com/v/FrBDVR6H/

I stopped reading after the word "candle".

Markets do not follow trend lines.  They just trend.

If we can maintain above $500 on a weekly basis then I'm still a bull.

[ChartBuddy]

Explanation

[adamstgBit]

[adamstgBit]

[adamstgBit]

[adamstgBit]

[adamstgBit]

[adamstgBit]

Good news everyone, the good news keeps on coming 

[derpinheimer]

So guys, 27th June.. we learn that the coins sold well above market, we should see a price to $650+ within hours after confirmation? And, on the other side (well below market) we should see a drop to $545 or less within hours after confirmation.

But what about the case where we dont know the results? Down? Up? We all know this market never responds to nothing by doing nothing.

[TERA]

My conclusion from my observation of the charts on the different exchanges is that we never in fact left the state where the Chinese are the market leaders. The Chinese are still our overlords, and they might lead us all the way back down as their government continues to crack down and shut down recharge codes, etc. Wall street will not be coming in to save us in July as I had hoped for because for some reason the regulations with Lawsky are being delayed and there has been no progress.

[pjviitas]

Take a look at the 1 week charts at Bitcoin Wisdom.

Isn't there usually a double bounce at the top and bottom of every markets?

If that is the case then Bitcoin has to have one more big dump before heading to the moon.

[adamstgBit]

So guys, 27th June.. we learn that the coins sold well above market, we should see a price to $650+ within hours after confirmation? And, on the other side (well below market) we should see a drop to $545 or less within hours after confirmation.

But what about the case where we dont know the results? Down? Up? We all know this market never responds to nothing by doing nothing.

whatever the F happens on friday, I think we'll be at 800 in ~2 weeks 

[shmadz]

This is bad, we are touching the Long term trend line at Stamp at 572 and nobody is buying wtf???

Of course nobody is buying. There is a huuuge major event coming up that controls the whole market and could put us down by a massive amount.

I know about the silk road auction and I know that until the 27th we won't see huge spikes, I'm just saying that nobody seems to be defending the VERY important long term trend line. A Big dump could take us way below that trend line, which would be TERRIBLE for BTC.

I like lines!

which line were you referring to exactly?

Yes that one pretty much





If you draw the trend line with the two points at red arrows you would have predicted
1: the $340 crash bottom
2: confirmation of the trend reversal with the huge pump "out of nowhere"
3: bounce from the last 680-540 crash


that trend line

What are your predictions for 2014?

not sure if your were asking me, but I'll spew out some nonsense at the slightest of opportunities

here is a zoom in of that same line - not the same line wanderer was showing, the other line I posted earlier... oh bother - I'm not sure, it might be the same line after all


my best guess is bouncy time, I'm not feeling anything being resolved until the auction is sorted out.

(edit - by bouncy time I mean a bunch of dangerous chop, not like trampoline bouncy to the moon type stuff, not yet.

[seleme]

I've been here for quite some time and I agree with Shroomskit.  You can lay claim to keeping "[your] mind agile and free from cultist's poisonous thoughts" but your actions speak otherwise.

This is just untrue. Only recently have I made a bullish case based on my technical analysis here and here for instance.

I'll admit that I have a natural tendency to be more on the bearish/cautious side with Bitcoin especially with regard to my posts here, and this is attributed to three factors:

1) Humans have an aversion to losses that is psychologically greater than the reward from equal wins
2) Bitcoin has brief trending periods in which it trends strongly to the upside followed by long counter trend periods where it declines or does not do much of anything
3) There is plenty of bullish commentary at almost all times, and thus I simply do not feel the need to rehearse all that

I rarely ever defend myself and I won't continue to do so further (just send me a PM if you want to talk), but this sort of knee-jerk reaction is something I see happening not only with myself but also other mentally similar and outspoken traders like oda.krell and TERA constantly, and perhaps this will explain at least my side better.

PS: Have you ever noticed that trader almost sounds like traitor? Think on it.

You'll never ever have any credibility after trolling/predicting Bitcoin apocalypse at 70$. You were barely better than fonzie back than.

[TERA]

I am impressed with the last 2 hours. There is still some fighting chance left if there is a good recovery over the next 8 hours.

[ChartBuddy]

Explanation