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

[Whtwabbit]

Just like June 2013 ($65), it was going to collapse, but it didn't

[ChartBuddy]

Explanation

[aminorex]

If we go below the 560 for any significative ammount of time, according to the 12 hours graph, we will go down and I don't know were are we expected to stop - maybe somewhere in the 400's?.

Monkey puts that number at 440.

[ShroomsKit]

While some peeps are panicking, I'm anticipating cheap coins... why worry if the fundamentals haven't changed?

In fact, the network scalability fundamentals have improved with Gavin's invertible bloom table proposal.

Cheap coins means longer adoption phase, more people being able to buy them, and creating a bigger ecosystem in the long run than if we suddenly spike and crash...

No wait... most people looking at the prices just want to get rich quick... carry on. 

People can buy 100 dollar worth in Bitcoin now or when it's 10.000. So your point is invalid.
Bitcoin going down simply isn't good. No matter what excuse you guys come up with.

[inca]

If we go below the 560 for any significative ammount of time, according to the 12 hours graph, we will go down and I don't know were are we expected to stop - maybe somewhere in the 400's?.

Monkey puts that number at 440.

So you sold.

The price is so far down a grand total of 18 dollars with the same number of coins on stamp to run up to over 600 as 540. We haven't even breached any made up technicals yet.

What was that advice previously off posted here: if in doubt, hold!

[scarsbergholden]

Bouncy bouncy.

Unfortunately, this bounce is significantly less bullish looking than the last bounce of 56x levels. Last time, it was a fluid, round bounce on RSI, MACD and OBV. This time, significant struggle and chewing up momentum for minimal gain. Looks like a dead cat bounce to 580 or so then test of 550 levels IMO.

[keithers]

Relatively ugly day for BTC and most alts today

[aminorex]

Um, it only looks bad if you're looking at a really small timeframe?

Overall trend is buy the *** out of it now...go long. $12,000 peak next

Longer the price goes sideways the bigger the peak will be?  Have some heart!

It is strange to find my self in such emphatic agreement with a person known to me by an image of Saddam Hussein.

But even more bizarre it is to read some who consider the possibility of a 20% drawdown on the road to a 20x spike to be grounds to sell all.  Good luck timing that.  Hope you can find the liquidity, caught in the traffic jam on both legs of the trip. I can see underweighting a share perhaps but the risk of dumping entire would be severe - greed gone to hubris.

[aminorex]

If we go below the 560 for any significative ammount of time, according to the 12 hours graph, we will go down and I don't know were are we expected to stop - maybe somewhere in the 400's?.

Monkey puts that number at 440.

So you sold.

The price is so far down a grand total of 18 dollars with the same number of coins on stamp to run up to over 600 as 540. We haven't even breached any made up technicals yet.

What was that advice previously off posted here: if in doubt, hold!

Actually no, I bought some.  Monkey says if it breaks down the turn is likely at 440.  But monkey doesn't see a break down yet.

[scarsbergholden]

If we go below the 560 for any significative ammount of time, according to the 12 hours graph, we will go down and I don't know were are we expected to stop - maybe somewhere in the 400's?.

Monkey puts that number at 440.

So you sold.

The price is so far down a grand total of 18 dollars with the same number of coins on stamp to run up to over 600 as 540. We haven't even breached any made up technicals yet.

What was that advice previously off posted here: if in doubt, hold!

Actually no, I bought some.  Monkey says if it breaks down the turn is likely at 440.  But monkey doesn't see a break down yet.

A break of what level might do it for you? I am watching closely at 540-550 area. If that fails, I think we will see 400s again. Still not too much momentum downward, but that can change in an instant.....

[sidhujag]

Ltc is the only reason its falling.. btc is bullish looking at ltc.

Ltc needs to hit target first then all is good again.

[aminorex]

A break of what level might do it for you? I am watching closely at 540-550 area. If that fails, I think we will see 400s again. Still not too much momentum downward, but that can change in an instant.....

That would be telling.  Then someone could hunt my stops.  Besides which, it ain't gonna happen anyhow so it is moot. 

[ChartBuddy]

Explanation

[fonsie]

While some peeps are panicking, I'm anticipating cheap coins... why worry if the fundamentals haven't changed?

In fact, the network scalability fundamentals have improved with Gavin's invertible bloom table proposal.

Cheap coins means longer adoption phase, more people being able to buy them, and creating a bigger ecosystem in the long run than if we suddenly spike and crash...

No wait... most people looking at the prices just want to get rich quick... carry on. 

People can buy 100 dollar worth in Bitcoin now or when it's 10.000. So your point is invalid.
Bitcoin going down simply isn't good. No matter what excuse you guys come up with.

The amount of bullshit coming out of your mouth, is just, WOW

Did you really expect to be set for life, by buying 1BTC last week???

[scarsbergholden]

Bitcoin going down simply isn't good. No matter what excuse you guys come up with.

I think if we could push below 500, we'd have a nice oversold shakeout capable of rallying hard. These bottom fishing attempts almost feel like staving off the inevitable, but I could certainly be wrong....

[Threebits]

Buying a little bit to lower average.

Wondering why people expect btc to rise to usd10k? for what reason they believe in this?

[scarsbergholden]

Buying a little bit to lower average.

Wondering why people expect btc to rise to usd10k? for what reason they believe in this?

Well, the exponential growth trend (though that is lagging heavily to the downside now)..... Metcalfe's law (although the accuracy of that theory is up for debate)..... the storage of value and value transfer capabilities of BTC......

[ErisDiscordia]

It seems like the market is trying to get enough people to despair and capitulate before it's ready to rise again. The irresistible force (market) meets the immovable object (legions of permabulls)....what will happen?

[HarHarHar9965]

It seems like the market is trying to get enough people to despair and capitulate before it's ready to rise again. The irresistible force (market) meets the immovable object (legions of permabulls)....what will happen?

That's what it feels like -- we're headed towards capitulation. Well, I'll tell you this, I'm not selling. I missed my opportunity to sell and buy back already. You bears won't be getting my coins cheap!

[nioc]

I coulda sworn I had falllling on ignore. Does he just keep registering more accounts with more l's in the name?

Must be on your end as I see him as ignored and has been since he first got here.