Wall Observer

[aztecminer]

I'm guessing the market will keep testing/bouncing off support in the low/mid 600s till after the halving.

and then what ??

 

[Bagatell]

masterluc spelling it out.

https://bitcointalk.org/index.php?topic=274613.msg15324128#msg15324128


Long term pic...

This looks like kick start:
* Volume starting to wake up
* ADX approaching 40 from downside
* RSI and MACD trending

 

[lunar]

Any bets on when we hit some resistance? 595 currently

I thought the 600/4000 barrier might hold.

 

[AdrianX]

we've slammed past my estimated resistance (I'm all in again) it's like the sky is falling, run for your lives.

 

[Bagatell]

 

[sickpig]

Masterluc: "too sharp decline"

Too sharp decline, went into negative d/bb zone, lower previous weekly candle low. Assume micro rally ended. Some correction expected till autumn-winter 2016.

The most logical ew picture looks like following for me. The supports could be found with trend lines, triangle appexes & fibos.

However I see a potential wave extension here. If so, we'll got a giant IV wave triangle here

Need to wait another year in this case, well. Both cases provide a giant multi year bullish head and shoulders pattern.

 

[hedgewizard]

@sickpig

the technical analysis is great and all but hardly seems to account for the potential socio-economic factors at play. will be really panicky with a sharp stock market decline / sovereign currency crises.

also I think circle bringing in baidu (china's largest search provider) is very big. across china they are far more accustom to doing mobile payments than the west's out dated plastic. even chip and pin has fallen by the wayside. the on-boarding potential is staggering for btc as a background settlement token

 

[Bagatell]

the technical analysis is great and all but hardly seems to account for the potential socio-economic factors at play. will be really panicky with a sharp stock market decline / sovereign currency crises.

And those factors are of historic proportions. A century of central banking needs to be unraveled.

 

[8up]

Such a sharp decline means a lot of energy is currently stored. Could be released easily. Escalation expected.

 

[Bagatell]

Escalation expected.

I recommend @sgbett [prediction] Next spike $560,000 14 months from now for some thoughts on that.

 

[8up]

I know his 'calculation' very well. It's a perfect description of how things might play out. However, I think the function is more about Crypto vs. Fiat in general.

If he is (in any way) right, this means we'll see x1000 within 15 month.

 

[sickpig]

time will tell I suppose:

 

[8up]

On track...

 

[theZerg]

Woah coinbase!

 

[79b79aa8]

what's that spread about? something to do with GBP nosedive?

 

[8up]

PSA: The world is heavily underestimating the potential of Bitcoin.

 

[Richy_T]

Crazy volatility. Think we're finally getting ready for up. The halvening still the wildcard though.

 

[AdrianX]

https://bitco.in/forum/posts/23317

aaah ChartBuddy stabilising, pity about the full blocks

 

[Bagatell]

aaah ChartBuddy stabilising,

lol. More stability please.

 

[JayJuanGee]

Crazy volatility. Think we're finally getting ready for up. The halvening still the wildcard though.

Did you sell any of your stash during the latest uprun to $778?

I think that the fairly quick 30% downward correction was a bit unexpected, and possibly even greater than expected for we do know that sometimes once a correction starts, there remains a certain tendency to attempt to take advantage of that momentum.

We are currently about half way back from the correction, and I did o.k. in the correction, but I could have done a little bit better if I had sold a little bit more in the upper $700s.

I attribute my practice more to failing to realize additional gain, rather than any kind of meaningful loss - because I fear more being oversold during an upsurge rather than being undersold during a correction. But, I am still learning too, and as prices go up, I am certainly more inclined to take more risks because my portfolio has been becoming more and more apportioned in profits, rather than principle investment funds.