I'm by no means an expert but is a return to the same stagnating price/very slow upwards movement just a few bucks below where it used to be really a trend reversal?

What did these whales eat to shit so hard

Sure, until the Chinese wake up

Damn funds taking so long to transfer. Here's to hoping for another whale dump tomorrow when I got me some fiat ready at the exchange!

That led me here: https://blockchain.info/address/1FfmbHfnpaZjKFvyi1okTjJJusN455paPH?offset=400&filter=0

What wallet is this

Damn, good guess!

650 get drunk buy bitcoins errday

This is my long-term strategy

Holy tits, wake up and Gox is suddenly 234. ATH doesn't seem so far away, and after that the media frenzy will follow 

Good thing I trusted lucif and held. When the Clown Prophet says we're going to the moon, I pack my bags.

My gods, I thought there'd be at least some resistance

Ooh 420, time to celebrate 

Gods, $100 spread between Gox and Stamp.

Damn it Bitstamp went down

So much for Bitstamp being the new Mt.Gox.
Damn it I was planning on withdrawing this week too, even before the crash/correction/whatever you want to call this rollercoaster.

Double bottom? What double bottom?

All hail profit walsoraj

Wow, breakout from the pennant pattern right on cue.

All hail the magic of TA 

Possible double top? Lots of resistance to 900 and no volume in the middle of the week

I thought $10 was too big a margin to be considered a repeated peak? But then again I'm a noob and you might be right!

I'm worried about the upcoming thanksgiving holiday, and seeing how Americans like to spend holidays somewhat extravagantly I doubt there will be much more fiat coming in. Add to this that China and Stamp aren't joining in on this one and you have the perfect conditions for a double (or perhaps triple) top and the subsequent crash.

Isn't it obvious? We're going UP

Shit I better start panic selling

That would be premature, what if it reaches $999 only to crash to single digits!

Directly followed by a huge sell 

I think the sentiment is pretty bearish right now, lots of people saying "we're going to go down more" "this is just a bulltrap" etc

We're far from a pop imo. People just shitting their pants over a standard weekend drop because they see the change in USD and not percentages.

The only one I listen to here is lucif. His advice has consistently helped me make some very profitable trades, even if the crowd whines that TA doesn't apply to bitcoin and he's just a broken clock  

So many triangles 

960 wall got eaten

Looks like bulls brought in the heavy artillery.

Did bulls just waste all their ammo on that wall?

How dissapointing if so 

So many bulls are going to get slaughtered

Bulls in denial get slaughtered in bulltraps. Or maybe those are called pigs, what do I know. I'm just another sheep after all.

Looks far more like

Amazing to scroll through several dozen new pages and see how the mood seems to change every other page.
Wall Observer V. Sentiment Tracker

Well that just happened. Messed up my triangle too. Damn you whale  

Oh boy, this is a spectacle! And volume is still fairly low in contrast to the extreme volatility, which tells me this train hasn't even begun derailing.

What government, exactly? Could you give me some links to him saying this?

If I were to guess I'd say all potential whistles have been bought by whales/inside info traders

Beached whale?

I think the whale is trying to create some momentum, take the price down as people panic sell thinking we're resuming the bear trend, and then pump back up and get cheap coins.

I can't see any other way putting up those massive walls and blocking movement makes sense. Market looked like it was breaking consolidation and that there would be another wave up. If he truly wanted those coins sold he could've done it gradually while price climbed, or just waited until the wave ran its course, new support was built up and then put up that $520 order. Furthermore, him attempting to completely reverse the uptrend just by putting up those walls instead of dumping them doesn't seem to make sense either as if he succeeds in doing that he'll be left with 4.5k coins of far lesser value.

Then again what do I know, I'm just a noobish sheep, no idea what goes on in the mind of a whale

Hmmh
Are you implying that every single person in bitcoin right now is a diehard accumulate-only hodler? That people who sell in hopes of buying more bitcoin at a lower price do not "trust bitcoin" (whatever that's supposed to mean)? That none of those who sold at a higher price thought bottom was at 445 and bought back in, or that every market participant is 100% certain there is absolutely no chance the bear trend will continue? That traders don't exist whatsoever?

I'm sorry but that seems a very silly notion

Inadequate? What other way is there to interpret him claiming that there are no sellers left and everyone right now are buying? I'm genuinely curious, and apologies to rpietila if I misunderstood what you said.

I would say so, although I think it may be sooner than a few days. There's a falling wedge forming, and seemingly some bullish divergence on 15m, which should optimistically provide enough upwards momentum to break it and confirm the reversal pattern, thus gaining even more momentum.



Normally I try to follow lucif's approach to the orderbook, that, in his words; "Walls are nothing when wave runs. They melting down like ice in summer." , and so far it has proven to be fairly accurate (depending on volume the wall(s) blocking the initial move from taking form tend to be eaten, pulled or manage to hold price in place for a while and sometimes cause a slight drop, yet keep getting retested until the wave can overcome it). However, in this case I am highly doubtful whether the wall can be passed through "natural means". I just don't see enough buying pressure materializing to overcome BTC3-4.5k in one move, so unless it gets pulled (at least partially) or a friendly fiat whale comes along, we'll probably either stay here for a long while or the bulls will give up and just let it drop lol

This comes in handy yet again it seems



Seriously wtf

No, the vast majority of that volume was by the wall smashing through the orderbook to $300. This is clearly visible on 1m chart (6k BTC in one candle that took price from $306 to $294).



Panic momentum like that does not happen in less than a minute.

Pardon the shittyshop

Hmmh, the drop looks to have impulse structure, at least on Bitstamp. I could of course be wrong (and thus get bear trapped ), but imo this movement doesn't seem very corrective at all.

So did Finex, although only slightly yet.

Damn it, closed my short way too soon. Forgot all about the $240 order I put up earlier