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

[Davyd05]

Nice and green on the 1 month and 3 month charts, just a little to go to get back into the green on the 1 week chart

1w still green on stamp D:


however, the continuing low volume makes you wonder if people are exploring OTE buying to hide the markets bullish existence.

[1714213185]

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[1714213185]

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[ShroomsKit]

Very bullish that we're going down.

[keithers]

Nice and green on the 1 month and 3 month charts, just a little to go to get back into the green on the 1 week chart

1w still green on stamp D:


however, the continuing low volume makes you wonder if people are exploring OTE buying to hide the markets bullish existence.

 a lot of the volume seems to have shifted over to LTC for the past few days...it's actually nice to see LTC doing well for a change

[Raystonn]

On 7-10 during the 9am EDT hour the long term exponential trend line was at 613.70.  We hit 5.80 below this trend line and were pushed up with higher volume within a few hours.  The buyers seem to come in when they see us below the line.

Right now this trend line is at 628.37.  We hit 623.43, which is 4.94 below the trend line.  I expect the buyers to come in and bring us back over the trend line within the next few hours.

[ChartBuddy]

Explanation

[windjc]

Nice and green on the 1 month and 3 month charts, just a little to go to get back into the green on the 1 week chart

1w still green on stamp D:


however, the continuing low volume makes you wonder if people are exploring OTE buying to hide the markets bullish existence.

The buyers don't buy...

until they do.

With these funds opening, there will be buying. It can't happen all off exchange. It can for a while, but all that is going to do is gut the supply making the next bubble a literal run on bitcoin.

Remember when Chinese exchanges kept running out of supply last Nov.?

If OE buying really is growing, it will keep the price lower for awhile and then make the next bubble ballistic.

[ShroomsKit]

On 7-10 during the 9am EDT hour the long term exponential trend line was at 613.70.  We hit 5.80 below this trend line and were pushed up with higher volume within a few hours.  The buyers seem to come in when they see us below the line.

Right now this trend line is at 628.37.  We hit 623.43, which is 4.94 below the trend line.  I expect the buyers to come in and bring us back over the trend line within the next few hours.

Because all these people are sitting behind their screen going omg we are below a line. I better quickly buy some.

[Raystonn]

We're just trying to save your shop, Shroom.

https://twitter.com/ShroomsKit/status/322610842933805056

Well, as you may have noticed Bitcoin went down quite a bit! I still have faith though. And our shop continues just like before!

[byronbb]

We are still in an uptrend imo. Y'all have been spoiled by $200 day price increases.

[windjc]

On 7-10 during the 9am EDT hour the long term exponential trend line was at 613.70.  We hit 5.80 below this trend line and were pushed up with higher volume within a few hours.  The buyers seem to come in when they see us below the line.

Right now this trend line is at 628.37.  We hit 623.43, which is 4.94 below the trend line.  I expect the buyers to come in and bring us back over the trend line within the next few hours.

Because all these people are sitting behind their screen going omg we are below a line. I better quickly buy some.

Once I thought about ignoring you. But now for some reason I find you hilarious. Keep it up.

[ChartBuddy]

Explanation

[sidhujag]

On 7-10 during the 9am EDT hour the long term exponential trend line was at 613.70.  We hit 5.80 below this trend line and were pushed up with higher volume within a few hours.  The buyers seem to come in when they see us below the line.

Right now this trend line is at 628.37.  We hit 623.43, which is 4.94 below the trend line.  I expect the buyers to come in and bring us back over the trend line within the next few hours.

If it doesn't does that send you back to the drawing board? What kind of statistical confidence do you have in making a bullish call based on an average?

Always keep your stop loss in check, but most ppl dont really care since they buy and wait instead of buy and cut. This makes bitcoin an early adopter market where ("anyone even a dummy, his monkey and his left nut, could have gotten in and made money") type thinking is in play. But I still advice ppl to use buy and cut because you never know if we end up heading down to 0 for some reason.

[theonewhowaskazu]

But... WHAT ABOUT MOON

[Raystonn]

If it doesn't does that send you back to the drawing board? What kind of statistical confidence do you have in making a bullish call based on an average?

If it doesn't, then it doesn't.  This trend line isn't an average.  It's an exponential line connecting high volume areas of historical support.  It increases approximately 10-fold per year.  Bubbles in Bitcoin can be seen by watching for movements significantly above this line, which eventually crash back to the line.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[rpietila]

But I still advice ppl to use buy and cut because you never know if we end up heading down to 0 for some reason.

Bitcoin is special, because every day that it is not immediately and permanently reset to 0, has historically meant a 0.7% price appreciation trend (resulting from increase in adoption).

So you are essentially betting that the probability that Bitcoin fails today is less than 0.7%, and you are able to withstand some volatility.

[magicmexican]

Looks shaky, any kind of fud (especially from china) would easily send the price below 600

[Davyd05]

Looks shaky, any kind of fud (especially from china) would easily send the price below 600

anywhere sub 540 cad I'll have no choice but to buy or everytime I look in the mirror I'll see a clown as my reflection. Sadly didn't buy when we we're down in the 330s bigger btc holding targets could've helped ....oh well.