Wall Observer - MtGoxUSD wall movement tracker

[The Fool]

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

https://i.imgur.com/4XSw4k4.jpg

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?

[oakpacific]

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.

[sublime5447]

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]

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...

[420]

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

twenty four seven

[Spaceman_Spiff]

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

twenty four seven

bitcoin goes up 24.7

[oakpacific]

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!"

[Liquid]

[Chaz]

[Kupsi]

$25

[lebing]

That wall made it all of 2 minutes before getting munched

[keewee]

Crikey! Where are all the asks??

[David M]

Spectacular!  

Bull runs are so much fun to watch.

[BitcoinRate.com]

Bye Bye wall

[Chaz]

Retreat!!!

[Zomdifros]

Next stop, $ 30,-

[Liquid]

[camolist]

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

[labestiol]

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

[oakpacific]

_{*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.