Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33737. (Read 26497796 times)

Well... $115 was a previous resistance on May 2 and all day today (-7utc). We've broken through it, but not with much force. I can't see it holding, and for my own sake i hope it doesn't until a revisit on monday or tuesday!

the volume pattern is there, and how does the second point invalidate the wedge?

Dude, thats not how wedges work -.-
No steady downtrend of volume and the slope of the center of the opening to the point is basically a trend line.

Honestly, at this point people are just drawing lines in places.

wedges are usually reversal signals, the last wedge was an exception. i tend to try to identify the patterns and then use other data to determine the directionality. William's Oscillator suggests short-term overbought, poising for a slight correction:

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10-day hourly scale



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also, depth on bitcoinity has a bearish bias.

Why would you call this bearish? The last wedge with a similar shape from 80 to 100 has been proven as bullish

4-hour scale:

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Not a rigid one IMHO

Wedge at what scale? I can't find it

Uh? Where?

What time period are you looking at?


Also, this. is. the. INTERNET!
Midnight is meaningless! (Unless you meant UTC  )

+1

Though I don't think we have the volume to eat 120 anyway so we'll probably see it drop either way.

On the way down, the bid side was pretty steep. I think that's a side-effect of it getting eaten into.

rpietila is from Finland, it's close but it's still not Denmark 

bearish wedge coming to a close right now. midnight dump?

When will the shit finally hit?

http://www.youtube.com/watch?v=bZI1eeV88lQ#t=0m42s

Funny coincidence, saw both of his movies (Red Chapel, Ambassador) last month.
There is some simliarity to the photo.
But I don't know if a movie by Mads Brügge about Bitcoin would be that awesome.
In Ambassador he has proven that you can get diplomatic status and smuggle blood diamonds out of an african country if you have enough cash and pretentious appearance.
In Red Chapel he pretended to be a communist theater director from denmark and went with two southkoreans (one of them handicapped) to NorthKorea to enact a play. (really interesting insight and social stuy of northkorea)

His satirical approach in his documentaries would defintively do more damage to the adaptation of bitcoin. Kinda like artmarket unmasking "exit through the giftshop" mockumentary by london streetartist banksy or performances by the Yes Men.

I'm sure it's not that difficult to find a lot of people in bitcoin community to do a satirical mockumentary thinking of some comments on the forum
Otherwise Mads Brügge seemed to me to be a higly intelligent person that would get the idea behind bitcoin after doing some research, so perhaps he would show both sides of the coin.

But let's see...absolute speculation based on a single photograph.

@rpietila:
If you are Mads Brügge...call me a fan and I surely would like to have contact because i have many ideas for some sick areas in the world that need such a style of dismantling roleplay-documentaries.
 

Is it just me or does the wall at $120 seem is way too small to not get trivially chomped by whomever kicked the price up to where it is now?

.....Hey,how is the taxman treating you guys,lol?

That's quite the resemblance, isn't it?

To me, the shallowness of the slope on the "bid" side tells me that the market is headed downward soon. As bitcoins are bought and sold regularly, the fact that the "ask" side is so much higher than the "bid" side means that it is going to take more trading to move is up. The gap will always close, and more than likely both sides will move equally, basically, so the price will move down... Is my thinking generally correct?

TL;DR- Am I correct in thinking that if the slope of the ask side is > bid side then the market is generally headed downward and vice versa?

I have some news that should improve on that, hopefully coming this week...