Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32620. (Read 26470520 times)
July 14, 2013, 10:01:50 AM
July 14, 2013, 09:41:24 AM
July 14, 2013, 09:21:36 AM
it's just me or the canldes on clarkmoody are often the wrong color?
The Clark Moody site sucks lately.
July 14, 2013, 09:18:01 AM
it's just me or the canldes on clarkmoody are often the wrong color?
July 14, 2013, 09:13:36 AM
I am still trying to figure out what the heck happened on July 5-6 that would cause this so called 'trend reversal'. I have come up with bubkis as it seems so arbitrary. I would have expected it to touch closer to 50s first and then slowly increase, not a shot right to 100. WTF man WTF
Could be this? I don't know what to think.
Price stability (long term) is impossible without a 1000 fold price increase or a reduction to zero.
July 14, 2013, 09:12:21 AM
I am still trying to figure out what the heck happened on July 5-6 that would cause this so called 'trend reversal'. I have come up with bubkis as it seems so arbitrary. I would have expected it to touch closer to 50s first and then slowly increase, not a shot right to 100. WTF man WTF
Could be this? I don't know what to think.
Max has said this before in April. But this was out around the same time as Max's tweet above, which takes some important hurdles of doubt away......
http://www.coindesk.com/hmrc-uk-bitcoin-exchanges-dont-have-to-register-under-money-laundering-regulations/
July 14, 2013, 09:06:34 AM
I am still trying to figure out what the heck happened on July 5-6 that would cause this so called 'trend reversal'. I have come up with bubkis as it seems so arbitrary. I would have expected it to touch closer to 50s first and then slowly increase, not a shot right to 100. WTF man WTF
Well, a lot of us saw a bounce there (key tech support and also was very oversold) but then some HUGE buyers came in and decided to take it higher. Still not a whole lot of bids piling up so I don't think they want to dump yet...
July 14, 2013, 09:01:58 AM
July 14, 2013, 08:51:05 AM
I am still trying to figure out what the heck happened on July 5-6 that would cause this so called 'trend reversal'. I have come up with bubkis as it seems so arbitrary. I would have expected it to touch closer to 50s first and then slowly increase, not a shot right to 100. WTF man WTF
July 14, 2013, 08:01:48 AM
July 14, 2013, 07:47:55 AM
I still havent seen the massive buying at bottom..
we went down.. and all was expecting even lower prices so nobody bought in yet..
then some big guy(s) keeps pushing price olmost with repeating accuracy.
so the only thing that happend was a few big buys pushing op price.. and ofcourse people are riding the waves.
it made sense for big guys to buy looking at technical indicators..
they can push it much higher.. and i'll ride the waves but always selling at top and keeping fiat..
i'm sure alot are doing this now..
this cannot hold for ever
the little selloff we had friday? wasnt even a correction..
and we need corrections to keep it healthy..
my best guess.. one more push up.. and then market will correct..
or ... not
we went down.. and all was expecting even lower prices so nobody bought in yet..
then some big guy(s) keeps pushing price olmost with repeating accuracy.
so the only thing that happend was a few big buys pushing op price.. and ofcourse people are riding the waves.
it made sense for big guys to buy looking at technical indicators..
they can push it much higher.. and i'll ride the waves but always selling at top and keeping fiat..
i'm sure alot are doing this now..
this cannot hold for ever
the little selloff we had friday? wasnt even a correction..
and we need corrections to keep it healthy..
my best guess.. one more push up.. and then market will correct..
or ... not
July 14, 2013, 07:37:33 AM
I like my support/resistance lines on the body of the candles, not wicks. We are sitting below 2 resistance lines if that is the case. Interesting to think we might have broken out of a descending triangle, but down and now come back up to meet it.
Why use the body instead of the wick? The body just represents an arbitrary cutoff period, it's no more indicative of sentiment than any price along the wick.
Note the updated chart with the volume/price negative divergence. Was bearish for BTC until recently.
I disagree and know I'm in the minority, but when you have a long wick and a close, imo it shows that the price was pushed down to the body. To me that is significant. Yes, on the open it generally is just the prior days close (unless you have a gap up/down). The wick "just" shows the max or min movement but the body can (and often does) show an important price point (the close). Candlestick analysis in large part is about the bodies. e.g. - Small bodies and long wicks showing doji's (indecision, perhaps a reversal). It is often a toss up and even with great analysis, we are often wrong.
All in all, it is really not rocket science. But looking at BTC's candle chart, the bodies tell us tons of information as do the wicks and I'm not so sure we can say one is right and the other is wrong. Just staring at a price history one can make arguments for both.
July 14, 2013, 07:30:03 AM
I like my support/resistance lines on the body of the candles, not wicks. We are sitting below 2 resistance lines if that is the case. Interesting to think we might have broken out of a descending triangle, but down and now come back up to meet it.
Why use the body instead of the wick? The body just represents an arbitrary cutoff period, it's no more indicative of sentiment than any price along the wick.
July 14, 2013, 07:16:33 AM
I like my support/resistance lines on the body of the candles, not wicks. We are sitting below 2 resistance lines if that is the case. Interesting to think we might have broken out of a descending triangle, but down and now come back up to meet it. Updated - And look at the negative volume divergences (2) with an up price. That had been a good reversal indicator, but not lately. Also, topping out on RSI.
July 14, 2013, 07:05:04 AM
A wild 1000 BTC bid wall appears on bitstamp...
July 14, 2013, 07:02:54 AM
July 14, 2013, 06:56:32 AM
And true, if we are expecting a dump, maybe it won't happen. Really, it is a crap shoot, even when you "know" what you are talking about.
Do you feel lucky, punk ?
http://www.youtube.com/watch?v=8Xjr2hnOHiM
All the more special considering the times we live in and that... I loved them Vigilante films as a kid (But Brooklyn will do that to a guy...)
This one was my favorite "punk": https://www.youtube.com/watch?v=l4jZ7rtWnvs
I predict some Banker Vigilante films on the horizon, and BTC is the Vigilante...
July 14, 2013, 06:32:32 AM
And true, if we are expecting a dump, maybe it won't happen. Really, it is a crap shoot, even when you "know" what you are talking about.
Do you feel lucky, punk ?
http://www.youtube.com/watch?v=8Xjr2hnOHiM
July 14, 2013, 06:05:04 AM
There's always "the step to unknown" in equation when you trade coins.
EDIT. unless you have 100k coins, then you do what you want...
EDIT. unless you have 100k coins, then you do what you want...
July 14, 2013, 06:02:19 AM
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