One thing that times like this always make me think about is how much more painful it is to be holding fiat when going up than holding bitcoin while going down.
Not making that mistake again so jumped on the train $100 ago and Im glad I did!
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 27669. (Read 26712842 times)
May 22, 2014, 04:07:32 AM
May 22, 2014, 04:07:00 AM
This last leg up was real weak. Starting to wonder if we will even make it to test that 530 wall. But bitcoin tends to surprise!!
What do you mean? Were you expecting us to shoot up to 550 tonight?
I think a slow methodical rise is healthier than a bunch of panic short covering and margin buying into oblivion. We are going up pretty damn fast as it is.
This is what I am looking at
It is taking massive momentum, exhausting RSI to make lower highs. We are above January level momentum at half the price and those divergences there should be warning to the bulls. Daily RSI is overbought levels and we have not even tested the previous high at 548! The triangle broke but is the downtrend over? This momentum tells me the buying pressure is not there, and if it does not show itself sooner than later the downtrend will push us down
Good lord, man.
I believe as much as anybody we are not out of the bear market, but you can't expect us to go up at this rate (super quick) after 6 months of bear market and not have the RSI go off the charts. Its just part of a reversal (even if this is a short lived one). We can simply retest 500 here and the RSI would drop down again and we could fire off to 530+.
Not sure what you are expecting for a "real" reversal, but the RSI can't stay low under these conditions. To compare it to the January momentum is not fair or accurate, imo.
May 22, 2014, 04:01:41 AM
I don't think its done. This was a pump led by bitstamp in the super early morning. I think the day will be good and monday will be better.
May 22, 2014, 04:00:36 AM
May 22, 2014, 03:57:31 AM
This last leg up was real weak. Starting to wonder if we will even make it to test that 530 wall. But bitcoin tends to surprise!!
What do you mean? Were you expecting us to shoot up to 550 tonight?
I think a slow methodical rise is healthier than a bunch of panic short covering and margin buying into oblivion. We are going up pretty damn fast as it is.
This is what I am looking at
It is taking massive momentum, exhausting RSI to make lower highs. We are above January level momentum at half the price and those divergences there should be warning to the bulls. Daily RSI is overbought levels and we have not even tested the previous high at 548! The triangle broke but is the downtrend over? This momentum tells me the buying pressure is not there, and if it does not show itself sooner than later the downtrend will push us down
May 22, 2014, 03:54:29 AM
This last leg up was real weak. Starting to wonder if we will even make it to test that 530 wall. But bitcoin tends to surprise!!
Weak?
May 22, 2014, 03:47:02 AM
This last leg up was real weak. Starting to wonder if we will even make it to test that 530 wall. But bitcoin tends to surprise!!
What do you mean? Were you expecting us to shoot up to 550 tonight?
I think a slow methodical rise is healthier than a bunch of panic short covering and margin buying into oblivion. We are going up pretty damn fast as it is.
May 22, 2014, 03:45:04 AM
This last leg up was real weak. Starting to wonder if we will even make it to test that 530 wall. But bitcoin tends to surprise!!
May 22, 2014, 03:43:24 AM
530 wall is impressive, $834,730.
That wall is fake. And its a WEIRD place for a wall. There are no resistance lines at 530.
Someone is trying to buy in lower for the run to 550.
~530 was a strong support that held a couple times in February before we broke finally down into 400s. You know, support becomes resistance and all that stuff.
Yeah, I missed that one. I was mapping out all the Fib lines on the way up and missed some of the other technical supports.
May 22, 2014, 03:43:12 AM
houbi going down, others to follow?
May 22, 2014, 03:38:18 AM
Stamps asks seem to have filled in a bit more, 2900+ now. I dunno if it is fake, lotta people holding from higher prices and its taking lots and lots of momentum for these small gains. Could be a good spot to exit for some
May 22, 2014, 03:38:13 AM
530 wall is impressive, $834,730.
That wall is fake. And its a WEIRD place for a wall. There are no resistance lines at 530.
Someone is trying to buy in lower for the run to 550.
~530 was a strong support that held a couple times in February before we broke finally down into 400s. You know, support becomes resistance and all that stuff.
the next couple of resistance lines are 530, 630, 750 and 800 if i'm not mistaken.
although a minor wall seems to be forming at 555 too but i doubt that one will stand
May 22, 2014, 03:28:18 AM
Waiting for wall to fall before I move in with my last fiat
May 22, 2014, 03:27:41 AM
Bitstamp trying to take the reins away from China
May 22, 2014, 03:25:27 AM
530 wall is impressive, $834,730.
That wall is fake. And its a WEIRD place for a wall. There are no resistance lines at 530.
Someone is trying to buy in lower for the run to 550.
~530 was a strong support that held a couple times in February before we broke finally down into 400s. You know, support becomes resistance and all that stuff.
He's not very smart then.
May 22, 2014, 03:19:46 AM
530 wall is impressive, $834,730.
That wall is fake. And its a WEIRD place for a wall. There are no resistance lines at 530.
Someone is trying to buy in lower for the run to 550.
~530 was a strong support that held a couple times in February before we broke finally down into 400s. You know, support becomes resistance and all that stuff.
May 22, 2014, 03:17:58 AM
530 wall is impressive, $834,730.
That wall is fake. And its a WEIRD place for a wall. There are no resistance lines at 530.
Someone is trying to buy in lower for the run to 550.
May 22, 2014, 03:14:11 AM
Wow, woke up at $511. Saw HuoOOobii knew we were still going up. Bought more BTC. Now waaaayy in the green after just 15 minutes!
NOTE: Chinese at Huobi are NOT finished. All I see in China are buys!
NOTE: Chinese at Huobi are NOT finished. All I see in China are buys!
Excited much?
May 22, 2014, 03:12:43 AM
530 wall is impressive, $834,730.
May 22, 2014, 03:10:19 AM
Wow, woke up at $511. Saw HuoOOobii knew we were still going up. Bought more BTC. Now waaaayy in the green after just 15 minutes!
NOTE: Chinese at Huobi are NOT finished. All I see in China are buys!
NOTE: Chinese at Huobi are NOT finished. All I see in China are buys!
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