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

[derpinheimer]

Am I the only one that sees we are overbought.

Bitstamp is overbought but being manipulated up; BFX is still oversold.

[gwoplock]

Am I the only one that sees we are overbought.

Bitstamp is overbought but being manipulated up; BFX is still oversold.

Ok so I'm being logical thinking that this upward trend can't be sustained.

[Richard Branson]

Time to dump some cheap coins (sub 300$). Nice profit locking  

[razorramon]

looks like a beartrap

[JayJuanGee]

13,367.73 BTC  shorts lol

also, biggest weekly green candle on Bitfinex since the start of November 2013.

My understanding is that the weekly candle closes out on Sunday... so we are only less than 4 days into the weekly candle and 3 full days remaining.. so this candle could get pretty big if the volume keeps up in the next few days (which seems very possible given the current trading dynamics).

[EFS]

I'm not ready for the train trip. Just delay some more months.

You've had 5 years. Stop crying.

I'm here for 1.5 years and it's never enough for me. I'm not crying, watch your language.

[derpinheimer]

Am I the only one that sees we are overbought.

Bitstamp is overbought but being manipulated up; BFX is still oversold.

Ok so I'm being logical thinking that this upward trend can't be sustained.

Well I think regardless of whether or not a true reversal occurred at $300 or not, a retrace is due..

The market clearly wants to move down but there are still plenty of buyers.

[WeltMaster]

Just noticed the RSI has been at its lowest on the larger (3-day) graphs since 2011, we are still waaaay oversold.

CCMF


On a side note are there any exchanges which have had a pretty consistent volume on a large timescale?

Bitstamp only goes back to late 2011 and the volume back then was nothing until gox went down

[Wandererfromthenorth]

So shroomskit just turned into a "enough of you ugly dumpers, it's time for moon" bull-tard  from being a "it's over idiots, bitcoin will never rise again" bear-troll these past weeks.

What a circus.

[NotLambchop]

can we get back to 370 this rapid climb is messing up my day trading  

Darn you Adam!

[sidhujag]

Just noticed the RSI has been at its lowest on the larger (3-day) graphs since 2011, we are still waaaay oversold.

CCMF


On a side note are there any exchanges which have had a pretty consistent volume on a large timescale?

Bitstamp only goes back to late 2011 and the volume back then was nothing until gox went down

We need a way overbought RSI signal to overcome this bear on this next rise.

[bucktotal]

Am I the only one that sees we are overbought.

Yes.. you and maybe one or two other delusional bears..  

Ok what am I missing then. I'm new to this so I want to learn.

with bitcoin being a free, yet illiquid market, the common indicators can stay overbought and underbought for a long time.

[prophetx]

So shroomskit just turned into a "enough of you ugly dumpers, it's time for moon" bull-tard  from being a "it's over idiots, bitcoin will never rise again" bear-troll these past weeks.

What a circus.

that probably means it was time to sell

no offense shroomskit

i base my trading on your sentiment

[JayJuanGee]

Am I the only one that sees we are overbought.

Yes.. you and maybe one or two other delusional bears..  

Ok what am I missing then. I'm new to this so I want to learn.

I don't claim to know much of anything either.. that is why I threw in the smiley faces.


However, I personally believe these terms of being overbought in these conditions have the potential of missing the point that BTC has been in a 10 month downtrend that has likely been manipulated downward.

Accordingly, we remain at a very low price point for the overall trend, there have been a lot of people pushed off into the side-lines looking for a trend reversal and their opportunity to buy back in.. and this may be the point to buy back in.. Yes there may be a bit of a battle for a week or so regarding whether the trend has actually reversed, and in the mean time, people may be getting back in or considering to get back in because the price has been so low for so long...

In other words, in looking at the longer term and the total market dynamics, I think it is a bit too short-sighted to suggest that we are overbought merely b/c there has been a 40% upward advance in the last week. 

We can probably both agree that we are likely to see quite a bit of continued trading action in the coming days..

[WeltMaster]

Just noticed the RSI has been at its lowest on the larger (3-day) graphs since 2011, we are still waaaay oversold.

CCMF


On a side note are there any exchanges which have had a pretty consistent volume on a large timescale?

Bitstamp only goes back to late 2011 and the volume back then was nothing until gox went down

We need a way overbought RSI signal to overcome this bear on this next rise.

Yeah, if the bullrun continues and we break 70 in a few weeks I can see a capitulation upwards.

When a bitcoin train gets rolling nobody stands in front of it.

[Tzupy]

https://www.tradingview.com/v/uWy5zTmF/

[njcarlos]

Which standard do you think this technology should be disruptive of - the bitcoin symbols, or the bitcoin subunits?  That's pretty much all this press release mentions.

"Obtaining an internationally recognized currency code for Bitcoin will enable more fluid international transactions and currency conversion."

It's that they feel the need to meet standards in general that's funny. BTC is anything but standard, right? Or so they said

[derpinheimer]

Am I the only one that sees we are overbought.

Bitstamp is overbought but being manipulated up; BFX is still oversold.

And why you think so about stamp? Fall from 380$ to 275$ was manipulated... this is just a return back. It is known there is much more fiat on stamp as orderbook shows it. This push back is a correction after quick rise.
I agree about bitfinex. Shorts are at ATH, while number of longs is still low. When the shorts get burned the real panic buying will start. My guess is 390-395$ is the level where squeeze will happen.

I suppose I shouldnt call bitstamp overbought; just "neutral", but it would be my opinion that they are overdue for some selling. That market still seems to be suffering deer-in-headlights after mega-whale. Bid depth is pretty poor and ask walls pop up at every corner. But no one ever really sells. The fact they hold over BFX (which is clearly oversold) says, to me, that they are being manipulated up.

Cant really dispute the short/long info tho.

[prophetx]

Am I the only one that sees we are overbought.

Bitstamp is overbought but being manipulated up; BFX is still oversold.

Ok so I'm being logical thinking that this upward trend can't be sustained.

Well I think regardless of whether or not a true reversal occurred at $300 or not, a retrace is due..

The market clearly wants to move down but there are still plenty of buyers.

a double bottom would be a very strong indication of a true reversal



after the double bottom happens the rocket ship will be ready for the moon

[gwoplock]

Am I the only one that sees we are overbought.

Yes.. you and maybe one or two other delusional bears..  

Ok what am I missing then. I'm new to this so I want to learn.

I don't claim to know much of anything either.. that is why I threw in the smiley faces.


However, I personally believe these terms of being overbought in these conditions have the potential of missing the point that BTC has been in a 10 month downtrend that has likely been manipulated downward.

Accordingly, we remain at a very low price point for the overall trend, there have been a lot of people pushed off into the side-lines looking for a trend reversal and their opportunity to buy back in.. and this may be the point to buy back in.. Yes there may be a bit of a battle for a week or so regarding whether the trend has actually reversed, and in the mean time, people may be getting back in or considering to get back in because the price has been so low for so long...

In other words, in looking at the longer term and the total market dynamics, I think it is a bit too short-sighted to suggest that we are overbought merely b/c there has been a 40% upward advance in the last week.  

We can probably both agree that we are likely to see quite a bit of continued trading action in the coming days..

Ok. That makes sense. Thanks.