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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1652231 times)
The Fool
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February 12, 2013, 03:23:19 AM
 #10041

It seems there is a repeating pattern:

1. Resistance for 4-7 days
2. Going up for 2-4 days
3. Last resistance becoming new support

Now we meet another resistance at $24. If the pattern holds, we will not reach $25 before Wednesday and we may test the $21 support before that



We need to pull out of this cycle immediately, the RSI is looking more and more unnerving.
It's called the pennant formation. Very healthy.

I was talking about the RSI, which looks like a failure swing.
Sorry, I meant to only quote the top part. I know little about the RSI. Want to tell me about it?
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oakpacific
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February 12, 2013, 03:26:37 AM
 #10042

It seems there is a repeating pattern:

1. Resistance for 4-7 days
2. Going up for 2-4 days
3. Last resistance becoming new support

Now we meet another resistance at $24. If the pattern holds, we will not reach $25 before Wednesday and we may test the $21 support before that



We need to pull out of this cycle immediately, the RSI is looking more and more unnerving.
It's called the pennant formation. Very healthy.

I was talking about the RSI, which looks like a failure swing.
Sorry, I meant to only quote the top part. I know little about the RSI. Want to tell me about it?

Check this http://www.investopedia.com/articles/technical/03/042203.asp#axzz2KeSkXQrf  and the wikipedia RSI page, besides, when RSI is above 70 the market is considered "overbought", and staying overbought for too long is not funny.

In some sense, we have already survived one failure swing though, the $18 line did not fall.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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February 12, 2013, 03:59:29 AM
 #10043

if the price dropped $4 tomorrow how many of you would start selling?

In order to drop to $20, BTC40k would need to be sold. The market has already absorbed dumps this big on the way up, I'd still be pretty bullish. It will take a significant sell off to break the trend imo. The adoption phase may be starting!


I laughed out load when I read this.

Spaceman_Spiff
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February 12, 2013, 04:04:27 AM
 #10044

if the price dropped $4 tomorrow how many of you would start selling?

In order to drop to $20, BTC40k would need to be sold. The market has already absorbed dumps this big on the way up, I'd still be pretty bullish. It will take a significant sell off to break the trend imo. The adoption phase may be starting!


I laughed out load when I read this.



I like Proudhon a lot better...
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February 12, 2013, 05:02:46 AM
 #10045

so.....................we got a 24.7 wall

twenty four seven

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the hacks, the hacks, secure your bits!
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February 12, 2013, 05:05:33 AM
 #10046

so.....................we got a 24.7 wall

twenty four seven

bitcoin goes up 24.7
oakpacific
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February 12, 2013, 05:07:52 AM
 #10047

so.....................we got a 24.7 wall

twenty four seven

The wall maker is trying to tell you:"Stop watching the price 24/7, take a break!"

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
Liquid
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February 12, 2013, 06:06:21 AM
 #10048


Lifetime Member of the Bitcoin Foundation | Member of the Bitcoin Association of Australia
Chaz
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February 12, 2013, 10:20:28 AM
 #10049


1FsQJtY4vbvbkJj4Pd869rDcbFmu11RHge
Kupsi
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9.9.2012: I predict that single digits... <- FAIL


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February 12, 2013, 10:23:16 AM
 #10050

$25 Grin
lebing
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Bitcoin: The honey badger of currencies


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February 12, 2013, 10:25:37 AM
 #10051

That wall made it all of 2 minutes before getting munched

Bro, do you even blockchain?
-E Voorhees
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February 12, 2013, 10:27:58 AM
 #10052

Crikey! Where are all the asks?? Shocked


1keewee2vRp63UWvPBynT55ZYw6SUCKDB
David M
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February 12, 2013, 10:29:23 AM
 #10053

Spectacular!  

Bull runs are so much fun to watch.
BitcoinRate.com
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February 12, 2013, 10:29:59 AM
 #10054

Bye Bye wall

★ Get +16GB extra on your Dropbox: https://bitcointalk.org/index.php?topic=142163.0
Chaz
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February 12, 2013, 10:32:44 AM
 #10055



Retreat!!!

1FsQJtY4vbvbkJj4Pd869rDcbFmu11RHge
Zomdifros
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February 12, 2013, 10:33:30 AM
 #10056

Next stop, $ 30,-

Liquid
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February 12, 2013, 10:46:14 AM
 #10057



Lifetime Member of the Bitcoin Foundation | Member of the Bitcoin Association of Australia
camolist
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February 12, 2013, 10:51:42 AM
 #10058

25.4
bitcoin stop, go home you are drunk. *wants it to drop to 10 buy a ton more

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February 12, 2013, 10:59:00 AM
 #10059

Less than 15k btc to go to 30$  Shocked
Thinks are going to get wild !

1BestioLC7YBVh8Q5LfH6RYURD6MrpP8y6
oakpacific
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February 12, 2013, 10:59:31 AM
 #10060

*wants it to drop to 10 buy a ton more
Yeah, that's the problem here - real bears are all but extinct, everyone who wishes the price to fall just wants to buy in with more fiat... With sentiment like that, it's hard to see that a sustainable downturn is even possible at the moment...

Small bears are bullied(pun intended), big bears not willing to help out yet.

https://tlsnotary.org/ Fraud proofing decentralized fiat-Bitcoin trading.
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