Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 12392. (Read 26718168 times)

"Oversold" just means the trend is strong. Look at RSI against the bull trend last year. "Overbought" didn't mean anything. Price just kept pushing. The same can happen here.

On the flip side, I'm noticing a lot of $1,000 and $1,500 calls. People are forecasting carnage worse than 2011. Bears are getting bold. This happens near long term bottoms.

That's some good TA.

I trade with such TA in mind.

I'm like "what is the  next move to make the graph beautiful?".
Until now it has worked pretty well.

"Oversold" just means the trend is strong. Look at RSI against the bull trend last year. "Overbought" didn't mean anything. Price just kept pushing. The same can happen here.

On the flip side, I'm noticing a lot of $1,000 and $1,500 calls. People are forecasting carnage worse than 2011. Bears are getting bold. This happens near long term bottoms.

Leave everything aside, That's what i see when I look at this chart.



Now I want to sell half of my shit so bad but I probably won't.

I was just listening to him and no disrespect but anyone can get ahead of themselves.    He called it himself, RSI as massively oversold.    A bear market can have sharp spikes upwards, I wish it was so easy that it just moved in one direction because thats free money right with no worry.

I was just listening to him and no disrespect but anyone can get ahead of themselves.    He called it himself, RSI as massively oversold.    A bear market can have sharp spikes upwards, I wish it was so easy that it just moved in one direction because thats free money right with no worry.   This recent action seems to highlight the market is unlikely to move down without resistance, even to be negative it has to wear out buyers first.

So price is now about 50% retraced from 4100 and 3879 would be 61%   I think any bears will come back in about 4000 which is the 8 day average and a round number which always seems to be a thing

Im not guessing anything like a trend down, nothing neat like that.  Its more like a straight range we trade in

Chile’s Supreme Court decides against crypto exchange
The Supreme Court in Chile has issued a decision allowing the state bank Banco del Estado de Chile to close the account of cryptocurrency exchange Orionx on concerns over the nature of transactions being conducted on the exchange.

The ruling, reported by local news outlet Emol, reverses earlier decisions of the country’s Court of Appeals, and its anti-monopoly court, that had allowed the bank accounts of Orionx and several other plaintiffs to remain open.

According to the Supreme Court’s third division, the bank did not violate the Constitution, and that its acts did not arbitrarily curtail Orionx’s rights.

The decision stated that the assets being traded by Orionx, including ETH, XRP, LTC, and BTC, lacked physical manifestation and had “no intrinsic value,” in that they were not backed by any government or company. Rather, the digital currencies were viewed as controlled in a decentralized network of users.

The Supreme Court said that because of the nature of the assets, the bank could not comply with regulations requiring specific identities involved in transactions, which made the closure of the accounts justifiable.

The Banco del Estado de Chile was one of 10 banks that had closed accounts of cryptocurrency-related companies. Aside from Orionx, Buda and Crypto MKT had filed complaints with the anti-monopoly court of Chile. The move of banks to deny services to those in the cryptocurrency sector had been criticized as the act of a few in positions of power, who had not recognized measures put up by the companies to promote transparency and security.

Other countries’ banking sectors have shown greater openness to provide services for those using blockchain and cryptocurrencies, though not without conflict among regulators. Switzerland, where ‘Crypto Valley’ Zug is located, has had the government study how blockchain companies could be assisted in opening up bank accounts. Also, the Hypothekarbank Lenzburg has moved to accommodate such companies. However, the Swiss Financial Market Supervisory Authority (FINMA) has maintained a tough stance, requiring invested cryptocurrency assets to be covered by eight times their amount in fiat, to take into account the perceived risk associated with volatility of cryptocurrencies.

$1500 is the trigger spot weeeee

I was just listening to him and no disrespect but anyone can get ahead of themselves.    He called it himself, RSI as massively oversold.    A bear market can have sharp spikes upwards, I wish it was so easy that it just moved in one direction because thats free money right with no worry.   This recent action seems to highlight the market is unlikely to move down without resistance, even to be negative it has to wear out buyers first.

So price is now about 50% retraced from 4100 and 3879 would be 61%   I think any bears will come back in about 4000 which is the 8 day average and a round number which always seems to be a thing

If we see under $3k, its likely to headed for $1300 says Tone Vays. Also bearish as fuck.

 


lel


https://www.youtube.com/watch?v=2fmo1Sjn7dg

Of course.. ETH can manage anything !

I hear that Thursdays are for meeting a nice Jewish girl before the Sabbath

ETH now manfully engaged in the fight to become a double digit shitcoin.

Will it pull it off?

With aplomb.

Difficult to know what December 2018 and thereafter is going to bring in terms of BTC price performance, but I am having some doubts that in the short-term shorting BTC is going to be nearly as lucrative as it was in either 2014 or 2018...   but what do I know?