Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27668. (Read 26712937 times)
May 22, 2014, 06:05:44 AM
somebody removed 800 from the sell side at 528 and market sold it.
May 22, 2014, 06:00:37 AM
May 22, 2014, 05:57:52 AM
It is called an inverse head and shoulders. And it is not what is shown.
meh semantics.
You said head and shoulders were bearish but they're not they're either the fact that they can be split into head and shoulder top and head and shoulders bottom doesn't qualify the statement of "head and shoulders are bearish"
But I agree thats not whats shown.
Head and shoulders are a bearish pattern, it signals a trend reversal and a drop incoming. Traders often sell when the neckline gets broken after the right shoulder which confirms the pattern, so that's bearish no matter how you look at it.
May 22, 2014, 05:53:56 AM
It is called an inverse head and shoulders. And it is not what is shown.
meh semantics.
You said head and shoulders were bearish but they're not they're either the fact that they can be split into head and shoulder top and head and shoulders bottom doesn't qualify the statement of "head and shoulders are bearish"
But I agree thats not whats shown.
May 22, 2014, 05:53:18 AM
Am feeling positive, but let's see if Monday sees new fiat coming in and supporting this move.
I think after such a long dreary period it will take more than this to bring enough new fiat in to sustain "The Big Rally" we have all been waiting for.
Yes, it's a good start, but another 50 bucks up and we might see the sleeping piles of fiat taken off exchanges in the past few months coming back in.
Then we will have our climb, it will become self-sustaining quite quickly. The awareness of BTC is so much wider now - so any real rally will be of an order bigger than ever if those now aware think it is really happening.
I think after such a long dreary period it will take more than this to bring enough new fiat in to sustain "The Big Rally" we have all been waiting for.
Yes, it's a good start, but another 50 bucks up and we might see the sleeping piles of fiat taken off exchanges in the past few months coming back in.
Then we will have our climb, it will become self-sustaining quite quickly. The awareness of BTC is so much wider now - so any real rally will be of an order bigger than ever if those now aware think it is really happening.
May 22, 2014, 05:50:02 AM
Ok, inverse = bullish.. regular = bearish.
Thanks for all your answers. I did suspect that i was looking at too short a timescale, but you never know.. (fractals of) patterns can appear on almost any timescale you care to look, so i just threw it out there.
Thanks again for your informative replies.
Thanks for all your answers. I did suspect that i was looking at too short a timescale, but you never know.. (fractals of) patterns can appear on almost any timescale you care to look, so i just threw it out there.
Thanks again for your informative replies.
May 22, 2014, 05:46:12 AM
Does this look like a Head and Shoulders forming to anyone else? and does this mean the downtrend is in reversal.. does this imply up from here??
Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.
EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.
Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.
EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.
You should look for head and shoulder patterns on larger timescales for it to actually be meaningful. Also this one you showed would be a bearish signal not a bullish one. Inverse head and shoulders are a bullish signal for a reversal of a downtrend, like this one for example:
May 22, 2014, 05:43:18 AM
Does this look like a Head and Shoulders forming to anyone else? and does this mean the downtrend is in reversal.. does this imply up from here??
Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.
EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.
Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.
EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.
Don't really understand what you are trying to say. head and shoulders patterns are bearish.
No they're not, they're either. A sign of reversal as it were.
http://en.wikipedia.org/wiki/Head_and_shoulders_%28chart_pattern%29
"Head and shoulders formation occurs when a market trend is in the process of reversal either from a bullish or bearish trend"
May 22, 2014, 05:39:01 AM
No lol, that looks nothing like a head and shoulders just a $90 rally!
It would look just like your bitcoinity chart but on a 12 hour scale.
It would look just like your bitcoinity chart but on a 12 hour scale.
May 22, 2014, 05:36:50 AM
As you can see, i pulled it from bitcoinity, it covers 24hrs..
Here is the corresponding image from wisdom, over 12 hrs.. it still looks like it could be H&S forming..
EDIT.. So, we talking yet??
Here is the corresponding image from wisdom, over 12 hrs.. it still looks like it could be H&S forming..
EDIT.. So, we talking yet??
May 22, 2014, 05:31:08 AM
Does this look like a Head and Shoulders forming to anyone else? and does this mean the downtrend is in reversal.. does this imply up from here??
Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.
EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.
Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.
EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.
Yes but on a 5 minute chart I wouldn't call it a real "signal" that a true reversal is in, especially after a 6 month downtrend.
Show me a head and shoulders on the 12h and we're talking
May 22, 2014, 05:14:54 AM
Does this look like a Head and Shoulders forming to anyone else? and does this mean the downtrend is in reversal.. does this imply up from here??
Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.
EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.
Interested to hear other views.. To me, following the breakout, and going north of 500, this is yet another confirmation of a reversal.
All bullish signals.
EDIT: I'm not expecting rally speed up.. but a nice drift gradually upwards would be nice for now.. interspersed with a few legs up here and there as more take the plunge or get fiat to exchanges.
May 22, 2014, 05:04:32 AM
Guess what: most intelligent people understand that government and public services are a good thing, and that taxes are necessary to have them.
That's condescending as fuck. You're trying to imply that, agreeing with public services and charging taxes to fund them, is a prerequisite for being intelligent. That's absolute and utter bullshit.
BTW people please don't think he represents academics in general. I'm one and I take great offense.
Fact Check: see how Libertarian candidates do in US elections. Most people vote for the Democrats and Republicans - parties that support taxes and public services.
Second fact check: the majority of US professors are liberals.
http://www.insidehighered.com/news/2012/10/24/survey-finds-professors-already-liberal-have-moved-further-left#sthash.A8ga6kGk.dpbs
Third fact check: I'm not from the US.
May 22, 2014, 05:00:38 AM
May 22, 2014, 04:54:21 AM
May 22, 2014, 04:49:21 AM
There is one idea in crypto-currency that is unquestionably good, but most parts of the bitcoin protocol are "good" only if one subscribes to the libertarian dogma that banks and governments are evils to be removed.
The only thing about bitcoin that matters is that it is an accurate ledger of transactions, that it is open to the public, and that it cannot be fucked with.
(apologies to JJG, this post has been heavily edited
)Whatever floats your boat, no?
May 22, 2014, 04:46:32 AM
@Marbit -- it was my understanding that RSI and Stochi RSI indicators are relative to what has previously occurred (their time frame for want of a better phrase), so I think what Windjc is saying is that a sudden rise within the 'environment' of a subdued bear market is always going to say 'oversold' to begin with. Eventually, that indicator will recalibrate to reflect the circumstances of the improving market.
Yes hidden divergences are partly a result of this "environment" but it is a break of these divergences that could show a strong confirmation for trend reversal. Inability to break them is the very reason to look for hidden divergences -- to see if trend stays intact. so we will see if we can break 550 level and break that last local divergence
However more than anything I am referring to the difference between a $300 move and a $50 move, when both cause the same point increase in RSI (or other momentum indicators). This is not affected by previous price action
May 22, 2014, 04:45:45 AM
Buhuu a lot of lines and charts here on this page... And all of them are senseless because Bitcoin does not care and does what it does 
yes and no,
bitcoin sometimes makes big moves, but each of the moves is reasonably predictable. Charts do help you understand the patterns and what's going on but they won't predict the future exactly, but that's true for any market.
May 22, 2014, 04:42:18 AM
it has been a long time since i posted here.
looking at the BTC price-chart you also can celebrate.
Congratz!
looking at the BTC price-chart you also can celebrate.
Congratz!
May 22, 2014, 04:41:44 AM
I am all for sustainable growth, but close to the ATH I would expect more flash in the pan flexes
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