Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18527. (Read 26609274 times)

I'm just not sure whether $780 is sufficient to say that the right side of the cup has completed its formation yet?

In chart guy terminology there was a double top at $780, and a giant cup and handle chart pattern forming over the last two years. At $780 the right hand side of the cup had formed, and we needed a crash to get the bottom of the handle formed. With that in place the price can rise to the top of the handle and the real bubble's 5-15k at least price.

Exactly. Something is fishy here...

Its just a weakhands shakeout. Also a clearing of too much longs. It´s the healthier possible thing before the real bubble. Or even better, no bubble, just common sense, slow pace correction to 3-5k which is the minimum minimorum real price of one coin.

True price should be around 5-15k at least. Just relax, let things take its place and enjoy the following months

^^ Confirmed bug

How could it be that the pump is already over?

People aren't satisfied with this. Miners shouldn't be satisfied with this. This way most people who invested in mining companies are gonna lose hard, they won't allow that, right? The profit ASIC manufactorers made could be invested into bitcoins, the profit mining companies made the last year, could be invested in Bitcoin below a certain price.

Is bitcoinity malfunctioning? The chart shows a spike on bitstamp down to 1.5 dollars about ten minutes ago, but there were less than 200 Bitcoins dumped to get it down that low. That must be a malfunction, I can't believe anyone could buy a bitcoin for 1.5 dollars



edit

It must be a bitcoinity malfunction because bitstamp's data page shows today's range never went below $540.17

If you look at the charts, let's assume for the moment that the whale(s) that started this whole insane pump on 6/11 just wanted to do it to fk over the Australian auction winner.

Then if they pumped and then dumped all their coins after auction, they should be just about out of coins by now.

I'm not sure, we might have hit the bottom already! ... China probably used a bulldozer for this sh!tstorm.  

This time people didn't got scared like that time before, there are too many holding the bag. Demands seem to be incredibly high!

the "bottom" was $776.95 for the downtrend. exact the 61.8 % fibo retracement level from ATH to low at $152.40.



https://snag.gy/vjnaO7.jpg

I still have a while before I can get my $150k from the sale of my house to an exchange.

It's been a few weeks but on the day of the sale I went to my bank to deposit the check. They were able to process $5k of it in 2 days and the rest took 9 working days before it went through.

I initiated a wire transfer to ItBit while I was there in the US so I could set up a recurring transfer that I could execute from a phone call once the check cleared (since I would not be back in the US).

After filling out tons of paperwork, including my banker calling various people for help with setting it up, we finished after a couple of hours.

Then they had to mail me a PIN which I could use to do the wire transfer over the phone. I then have to mail a signed form back to them to acknowledge that I received the PIN.

Once they receive that form, then I can call to initiate the wire transfer to ItBit. I can then use their exchange to buy bitcoins which I will then send to BitFinex where I can margin fund at a very low rate to people shorting.

Fiat bank Total time: about 1.5 months


The whole time I was sitting there with the banker I was thinking in my head how it would have worked had I sold the house for bitcoins.

Guy scans my BitFinex QR code sending me the bitcoins (10 seconds). Maybe wait 30 minutes for BitFinex to be satisfied with the confirmations. Start margin loaning the funds (30 seconds).

Bitcoin Total time: 30 minutes 40 seconds

Bank confirmation times are brutal.

It's an interesting observation, and according to that chart, we should bottom around 380$.

next 24h are critical^TM

This:




Try to adapt the proportions of that, in your head, and apply it approximately for what is happening now!

*Edit: I am not 100% sure, because the market is more mature now and those chaotic dips might have been due to a more panic driven traders in the early days.

funny how often you and I think alike.

If we've not reached the summit
Then Bitcoin plummet

That would be about the worst outcome, i.e. that this was the next bubble. I'm expecting consolidation now in the 500 to 700 range as a base for the true bubble though, fingers crossed.

Nah I was stuck in hodl for 2 years.  Got caught on the wrong side of the last spike up to $700 on the run down from $1000.  Had to wait it out.  This spike has finally freed up my trading account again. 

Ok... I hope you locked in your profits... Now we wait!!!

And enjoy the ride!

I'm telling you. This rally is over. Dread Pirate Roberts messed up big time. This will not end well.