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

[fonzie]

we are fucked

agreed.

Confirmed

[Meuh6879]

only the trust believe ... and stay ... and do nothing.  

[silverston]

we are fucked

exactly  

[fonzie]

Will we just break 300$ or do we also have to break the former ATH in the next leg down?

[TooDumbForBitcoin]

Sorry for the late notification.

BTC down because Winklevii dumping slowly due to discouraging feedback from SEC on COIN application.

No links or evidence, just brilliant reasoning.

[_javi_]

ok, ok bears... here are your cheap coins...

then what??  instant grow like magical beans, whenever you want?

"It´s easier to mantain an user base, than build a new one" Many dudes lost big money on BTC... dont count for them again.

Good luck with your devaluated coins, bears.

[megadeth]

2xx here we come

[Bagatell]

We are very oversold here on the weekly chart. I dont remember seeing the RSI so low ever ... hovering around 30ish

J line hasn't been this low since Oct 2011 @ $2.50

[adamstgBit]

We are very oversold here on the weekly chart. I dont remember seeing the RSI so low ever ... hovering around 30ish

J line hasn't been this low since Oct 2011 @ $2.50

what is J line?

[Meuh6879]

Japan line.
120 Yen = 1 USD.

[newbitech]

We are very oversold here on the weekly chart. I dont remember seeing the RSI so low ever ... hovering around 30ish

RSI below 30 is oversold.  If you are looking at the weekly chart for bitstamp, BTC has never ventured into oversold territory. On the other hand, RSI > 70 is overbought.  BTC has peaked the RSI twice and has ridden a very large chunk of time in overbought territory.  

To say that BTC is oversold is inaccurate.  It could be after this week, but to use the term "very" even if it does dip below 30 this week is a misreading of that indicator.  

The market is going to find a balance in price level eventually.  BTC has been one of the most well behaved technical charts I've ever seen.  To find that balance, I suspect you are going to see some very oversold conditions and perhaps peak the RSI to the down side 1 or 2 times before it starts bouncing around with stability between 30 and 70 RSI.  

[inca]

...
Protip: the public are never buying at this stage of a cycle - ever. A lot of coins have been sold in this decline, ergo a lot of coins have been bought, too. The big players will give the price a decent push upwards when the time is right and start another bull run. Bitcoins are getting easier and easier to obtain. Until then, it's accumulation time.

Didn't think it was possible, but that reasoning...  Like palpable, visible manifestation of denial...

Who is in denial? I am waiting for a capitulation flash crash to buy my last tranche of coins. I would much prefer that than this slow drawn out bear slide. I can also see the bigger picture. What exactly about my post did not make sense to you?

[Bagatell]

We are very oversold here on the weekly chart. I dont remember seeing the RSI so low ever ... hovering around 30ish

J line hasn't been this low since Oct 2011 @ $2.50

what is J line?

http://ntindicators.com/ninjatrader-indicators/kdj.html

[y3804]

I know we've been through this like 5x times, but for some reason this feel differents.... everyone is in fiat now watching the market drop. No one believes in the bubble cycle anymore. No reason to buy Bitcoin. Adoption is done, even paypal has adopted bitcoin. What's next?

[bengtåke]

The bearwhales broke bitcoin's legs

[Bitcoins101]

ok, ok bears... here are your cheap coins...

then what??  instant grow like magical beans, whenever you want?

"It´s easier to mantain an user base, than build a new one" Many dudes lost big money on BTC... dont count for them again.

Good luck with your devaluated coins, bears.

That's why you short it instead of just waiting around in fiat. I'll make an absolute fortune if bitcoin crashes to nothingness.

[BlindMayorBitcorn]

Too much panic even for a cat meme

[Xiaoxiao]

From 0 it came, 0 it shall go.  BTCE is freefalling again.  All it takes is this thing to go below 300 for BTCE to hit 100.  LOL @ btce

[itod]

china retesting 2100 yuan

If that battle looks like a bloodbath to you wait to see the resistance at 2000. These round numbers are important psychologically. if China breaks 2000 yuan line we can easily be going into $200 territory (which btw I don't believe will happen). So i'm boldly predicting $325 ($305 BTC-E) as a temporary bottom for at least a few days/weeks.

Why would this big dumper/dumpers stop now? Because he is afraid to break a trendline? I have a feeling he doesn't give a shit.
And there clearly aren't enough buyers for the coins that get dumped.
I see no reason why the downtrend will stop there.

I love when I'm right and prove the troll wrong. BTCChina reached CNY 2010 and bounced back, Huobi reached CNY 2001 and bounced back from that. Chinese are not giving up that CNY 2000 line ($325) that easy, there will be a fight.

[PapaEmeritus]

Been dumping my BTC on Bitstamp since 460, last batch going to the slaughterhouse in 3 confirmations.
Thanks BTC, you´ve made me ALOT of fiat in these 2 years. If i only sold at the 1200 peak, i would be fucking richie-rich