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

[alexeft]

FUD of the day!!!

Bitcoin fell by $6!!! Quick! Save yourselves! Sell all your coins!!! 

[Erdogan]

Hey, we have a 2 hr high. Not ATH, but it is something.

[FUR11]

Hey, we have a 2 hr high. Not ATH, but it is something.

We're on our way up the $5-10 corridor now, only to bounce back after we reach $629 I guess. Although it is Sunday night so we might see some surprise rallye. Prepare for another week of uncertainty in Bitcoinland :/

[Erdogan]

Hey, we have a 2 hr high. Not ATH, but it is something.

We're on our way up the $5-10 corridor now, only to bounce back after we reach $629 I guess. Although it is Sunday night so we might see some surprise rallye. Prepare for another week of uncertainty in Bitcoinland :/

Yeah we could have a repeat (due to new users) of the weekend-dip-no-shit-not-this-weekend-better-buy-back-in.

[ChartBuddy]

Explanation

[oda.krell]

We've been at this price the last few weeks, something has to give soon!

Agreed. Lowest daily BBW since ages - below 0.06, last time that happened was September 2013 iirc. It'll resolve soon, I'm sure. Not equally sure though in which direction. :/

Where did you get this reading? It's 35 on bitcoincharts.com.

Didn't even know btcwisdom shows bbw. Or you're simply doing [upper bb] - [lower bb]? If so, I suggest to use tradingview, which (to my knowledge) normalizes width to current price, making it comparable across price levels. Otherwise the statement "the lowest in year" would be even more impressive, but also kind of meaningless since with price increase absolute width also increases.

[spooderman]

When's this magical day? 24th of July? I think nothing interesting is going to happen until Sept to be honest.

Yawn.

[ChartBuddy]

Explanation

[ssmc2]

FUD of the day!!!

Bitcoin fell by $6!!! Quick! Save yourselves! Sell all your coins!!! 

Man that was close! I got out in time right???

[FUR11]

When's this magical day? 24th of July? I think nothing interesting is going to happen until Sept to be honest.

Yawn.

I don't really know and actually highly doubt that there's a universally accepted magical date set in stone. A lot of people actually believe a decision could be made 'any day now' for a couple of weeks. So where are everybody's charts with long term trend lines and support thresholds?

[N12]

We've been at this price the last few weeks, something has to give soon!

Agreed. Lowest daily BBW since ages - below 0.06, last time that happened was September 2013 iirc. It'll resolve soon, I'm sure. Not equally sure though in which direction. :/

Where did you get this reading? It's 35 on bitcoincharts.com.

Didn't even know btcwisdom shows bbw. Or you're simply doing [upper bb] - [lower bb]? If so, I suggest to use tradingview, which (to my knowledge) normalizes width to current price, making it comparable across price levels. Otherwise the statement "the lowest in year" would be even more impressive, but also kind of meaningless since with price increase absolute width also increases.

This is actually something I've been looking for, which is why I asked. I always had to factor in the prices when looking at bitcoincharts' (bitcoincharts.com, not bitcoinwisdom.com) BBW. Yes, bitcoincharts simply subtracts lower from upper BB.

Thanks for telling me, this is extremely useful.

[ChartBuddy]

Explanation

[hdbuck]

We've been at this price the last few weeks, something has to give soon!

Agreed. Lowest daily BBW since ages - below 0.06, last time that happened was September 2013 iirc. It'll resolve soon, I'm sure. Not equally sure though in which direction. :/

Where did you get this reading? It's 35 on bitcoincharts.com.

Didn't even know btcwisdom shows bbw. Or you're simply doing [upper bb] - [lower bb]? If so, I suggest to use tradingview, which (to my knowledge) normalizes width to current price, making it comparable across price levels. Otherwise the statement "the lowest in year" would be even more impressive, but also kind of meaningless since with price increase absolute width also increases.

This is actually something I've been looking for, which is why I asked. I always had to factor in the prices when looking at bitcoincharts' (bitcoincharts.com, not bitcoinwisdom.com) BBW. Yes, bitcoincharts simply subtracts lower from upper BB.

Thanks for telling me, this is extremely useful.

more useful than coindesk's latest article?  
http://www.coindesk.com/trend-spotting-identify-trends-bitcoin-price-charts/

[empowering]

We've been at this price the last few weeks, something has to give soon!

Agreed. Lowest daily BBW since ages - below 0.06, last time that happened was September 2013 iirc. It'll resolve soon, I'm sure. Not equally sure though in which direction. :/

Where did you get this reading? It's 35 on bitcoincharts.com.

Didn't even know btcwisdom shows bbw. Or you're simply doing [upper bb] - [lower bb]? If so, I suggest to use tradingview, which (to my knowledge) normalizes width to current price, making it comparable across price levels. Otherwise the statement "the lowest in year" would be even more impressive, but also kind of meaningless since with price increase absolute width also increases.

This is actually something I've been looking for, which is why I asked. I always had to factor in the prices when looking at bitcoincharts' (bitcoincharts.com, not bitcoinwisdom.com) BBW. Yes, bitcoincharts simply subtracts lower from upper BB.

Thanks for telling me, this is extremely useful.

more useful than coindesk's latest article?  
http://www.coindesk.com/trend-spotting-identify-trends-bitcoin-price-charts/

I (also) like a good old fork (and their trigger lines) personally for trends and reversals/support,resistance

*Andrews pitchforks/schiff/mod schiff

[aminorex]

As far as I am concerned it doesn't matter whether the case for freedom and justice is made by pope or antipope, what matters is that it is made and pressed and pursued with unflagging vigour.  As long as Vorhees is making that case, he is representing me. I should prefer that Lawsky would be making it, but that's not to be, it seems.

[aminorex]

Old man Lawski has the Scooby Gang scared at the moment. Soon they'll discover he's just a Superintendent of a run down old school of thought. His scary monster act only works on the kids playing in the Status Quo club. The new investors are free to move their money anywhere that makes them happy and offers more freedom.

Nice.  Can you do league of justice? "Wonder twins powers...activate!"

[empowering]

As far as I am concerned it doesn't matter whether the case for freedom and justice is made by pope or antipope, what matters is that it is made and pressed and pursued with unflagging vigour.  As long as Vorhees is making that case, he is representing me. I should prefer that Lawsky would be making it, but that's not to be, it seems.

The fight for freedom and justice is distributed and decentralised - any bottlenecks will be bypassed  

[JorgeStolfi]

more useful than coindesk's latest article?  
http://www.coindesk.com/trend-spotting-identify-trends-bitcoin-price-charts/

One of the things that make me skeptic of Technical Analysis (TA) is their general reliance on high and low points to determine trends and such.

Highs and lows are very noisy statistics, that may depend on a single decision by a single trader.  So much so, that even for exchanges that track each other very closely  (like Huobi and OKCoin), trend lines that connect highs or lows may be very different depending on which chart one uses -- even increasing/converging on one chart, while decreasing/diverging in the other.

Basic statistics says that the weighted mean a much more reliable parameter than high, low, open, or close; and a weighted least-squares-fitted line is much better than a line connecting any of those points.  To quantify the size of deviations from the mean or the fitted line, the standard deviation is much better than the high-low difference.

[empowering]

more useful than coindesk's latest article?  
http://www.coindesk.com/trend-spotting-identify-trends-bitcoin-price-charts/

One of the things that make me skeptic of Technical Analysis (TA) is their general reliance on high and low points to determine trends and such.

Highs and lows are very noisy statistics, that may depend on a single decision by a single trader.  So much so, that even for exchanges that track each other very closely  (like Huobi and OKCoin), trend lines that connect highs or lows may be very different depending on which chart one uses -- even increasing/converging on one chart, while decreasing/diverging in the other.

Basic statistics says that the weighted mean a much more reliable parameter than high, low, open, or close; and a weighted least-squares-fitted line is much better than a line connecting any of those points.  To quantify the size of deviations from the mean or the fitted line, the standard deviation is much better than the high-low difference.

Fair point.

That is where experience and judgment come into play, also seeing TA for what it is, a set of indicators to aid judgement calls - it really would not be possible to have a market at all if there was an indicator that was right 100% of the time. Plus there are ways of helping reduce the noise MA's etc

[ChartBuddy]

Explanation