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

[ChartBuddy]

Explanation

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[explorer]

Price between bubbles oscillates within this channel. Channel slope is about 10x/yr. So even without bubble, price should reach 6K$ by next July.

Or 100k.  Somewhere in that range 

[Wary]

Price between bubbles oscillates within this channel. Channel slope is about 10x/yr. So even without bubble, price should reach 6K$ by next July.

Or 100k.  Somewhere in that range  

   According to the lines - no. If between bubbles - 6K. If it'll be a bubble top - 40-50K max. I mean if we won't trust the lines what can we trust at all?  

[CoinHamster]

Price between bubbles oscillates within this channel. Channel slope is about 10x/yr. So even without bubble, price should reach 6K$ by next July.

+1
drawing the same lines in my TA since june
even if it's ending in a rising flag pattern with a bounce at the upper line, the next move is up!  
...time to relax, settle back and watch bitcoin rise  
 

[CoinHamster]

moreover: actual falling wedge is closing near lower support line:

as written a few days ago, TA says: we will rise after a small dip
 

[TheJuice]

Price between bubbles oscillates within this channel. Channel slope is about 10x/yr. So even without bubble, price should reach 6K$ by next July.

Or 100k.  Somewhere in that range  

   According to the lines - no. If between bubbles - 6K. If it'll be a bubble top - 40-50K max. I mean if we won't trust the lines what can we trust at all?  

I'll take even the lower estimate on that range. I can retire if it's the top range.

[ChartBuddy]

Explanation

[ThomasCrowne]

Price between bubbles oscillates within this channel. Channel slope is about 10x/yr. So even without bubble, price should reach 6K$ by next July.

+1
drawing the same lines in my TA since june
even if it's ending in a rising flag pattern with a bounce at the upper line, the next move is up!  
...time to relax, settle back and watch bitcoin rise  
 

I'm just wondering whether or not any of this will come to pass with the hundreds of thousands of bitcoins in the hands of complete crooks and/or incompetent fat-head boobs like Karpeles.  Keeping my fingers crossed but I have a sinking feeling that all of this human greed and incompetence is going to slow the 6K mark down quite a bit.  Perhaps by the end of 2015 it might hit $6k.  (hoping for your scenario though)

[TheJuice]

Price between bubbles oscillates within this channel. Channel slope is about 10x/yr. So even without bubble, price should reach 6K$ by next July.

+1
drawing the same lines in my TA since june
even if it's ending in a rising flag pattern with a bounce at the upper line, the next move is up!  
...time to relax, settle back and watch bitcoin rise  
 

I'm just wondering whether or not any of this will come to pass with the hundreds of thousands of bitcoins in the hands of complete crooks and/or incompetent fat-head boobs like Karpeles.  Keeping my fingers crossed but I have a sinking feeling that all of this human greed and incompetence is going to slow the 6K mark down quite a bit.  Perhaps by the end of 2015 it might hit $6k.  (hoping for your scenario though)

I'll be happy if btc hits $6k this decade to be honest. For those of us who bought in early that will be nearly a 1000 fold increase. 

[CoinHamster]

Price between bubbles oscillates within this channel. Channel slope is about 10x/yr. So even without bubble, price should reach 6K$ by next July.

+1
drawing the same lines in my TA since june
even if it's ending in a rising flag pattern with a bounce at the upper line, the next move is up!  
...time to relax, settle back and watch bitcoin rise  
 

I'm just wondering whether or not any of this will come to pass with the hundreds of thousands of bitcoins in the hands of complete crooks and/or incompetent fat-head boobs like Karpeles.  Keeping my fingers crossed but I have a sinking feeling that all of this human greed and incompetence is going to slow the 6K mark down quite a bit.  Perhaps by the end of 2015 it might hit $6k.  (hoping for your scenario though)

I'll be happy if btc hits $6k this decade to be honest. For those of us who bought in early that will be nearly a 1000 fold increase. 

...according to this projected minimum cost per BTC, there's no way out: 
https://bitcointalk.org/index.php?topic=518111.20
 

[CoinHamster]

projected minimum cost per BTC:

(https://bitcointalk.org/index.php?topic=518111.20)
 

[Parazyd]

projected minimum cost per BTC:

(https://bitcointalk.org/index.php?topic=518111.20)
 

That makes absolutely no sense...
Is that supposed to be BTC/USD by date?

[dnaleor]

Did you guys notice?
We are (again), at the trendline started at the breakout in january 2013, tested when the silk road closed. Again touched when Mt.Gox went down and recently when the TSR coins were sold.


I personally think we will break out this small triangle (and above the fibonacci retracement at 654 USD) in the next few days:

[CoinHamster]

projected minimum cost per BTC:

(https://bitcointalk.org/index.php?topic=518111.20)
 

That makes absolutely no sense...
Is that supposed to be BTC/USD by date?

drawn data of this thread: https://bitcointalk.org/index.php?topic=518111.20 (recalculated update)
 

[windjc]

Did you guys notice?
We are (again), at the trendline started at the breakout in january 2013, tested when the silk road closed. Again touched when Mt.Gox went down and recently when the TSR coins were sold.


I personally think we will break out this small triangle (and above the fibonacci retracement at 654 USD) in the next few days:

I think these log trendlines are guaranteed to be broken at some point in the near future (1 week to 1 year).  A new trendline will be established. This happens all the time on a micro scale.

To maintain that trendline, basically btc would have to have a bubble of epic proportions (money influx-wise) and then only have a protracted bear retracement afterwards. I just don't think the log line is sustainable much longer.

[dnaleor]

I think these log trendlines are guaranteed to be broken at some point in the near future (1 week to 1 year).  A new trendline will be established. This happens all the time on a micro scale.

To maintain that trendline, basically btc would have to have a bubble of epic proportions (money influx-wise) and then only have a protracted bear retracement afterwards. I just don't think the log line is sustainable much longer.

I think we'll see one more epic bubble and after that, the current trendline (and the logaritmic model in general) will be broken.

[ChartBuddy]

Explanation

[Parazyd]

In case anyone missed this... :
http://www.coindesk.com/5000-terminals-across-ukraine-now-offer-bitcoin-cash/

Now what will Russia say? I wonder...
Nevertheless, it's a great thing, and 5000 places to buy isn't a small deal.

[Asrael999]

In case anyone missed this... :
http://www.coindesk.com/5000-terminals-across-ukraine-now-offer-bitcoin-cash/

Now what will Russia say? I wonder...
Nevertheless, it's a great thing, and 5000 places to buy isn't a small deal.

No but the Ukraine average annual salary is about $5000, so don't expect huge things

[dgarcia]

I think these log trendlines are guaranteed to be broken at some point in the near future (1 week to 1 year).  A new trendline will be established. This happens all the time on a micro scale.

Indeed. This trendline seems to be exhausted.