Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
How much UP movement in BTC price does it take before you personally are going to start to believe that the bottom for this particular correction is "in"?
By the way, if you have not looked at the BTC price charts recently (out of fear, detachment or for whatever other personal reasons) our current bottom is at $32,951 - nearly 4 days ago as I type this post.
Yesterday (or was it the day before? the days all mix together sometimes, no?), I had already provided my tentative answer to this question, but I would not mind hearing what other WO posters consider a sufficient UPpity BTC price threshold in order to start to feel a wee bit cocky that the bottom for this correction may well be "in" (sure your might want to account for time, too.. but mostly I am trying to focus on price in this here question with a kind of presumption that the threshold could get crossed in the next 1 hour to 6 months).
Here are the response options:
1) Already enough UPpity to proclaim the bottom is "in".
2) Getting above $38k for more than a few hours will be enough
3) Getting above $40k
4) Getting above $42k
5) Getting above $46k
6) Getting above $50k
7) Getting above $55k
8.) Getting above $62k
9) Getting above some other price level not listed above (and perhaps some additional criteria?)
Pray tell. Opinions matters, especially the opinion of uie pooie (I won't even make any exceptions here.. for the sake of inclusivity.. hahahahahaha)
Edit:
Bonus question. Am I getting to be too presumptuous regarding conditions in which the bottom might be in with my asking the above question?
Bonus description: I acknowledge that there are going to be some WO active members here that want to fight with presumptions of the above question, and may well not want to participate in this proposition because they are having trouble accepting any conditions in which the bottom might already be "in"
Edit 2: After looking at a couple of responses: I believe that if you proclaim that "we need down before up" then you are fighting the hypothetical, and this hypothetical that I present is largely presuming up and asking "how much UP" do you need to see before you can conclude that the "bottom is in" which current bottom is already described as $32,951...
I see the tendency to fight the hypothetical, fight it...
[/size]By the way, if you have not looked at the BTC price charts recently (out of fear, detachment or for whatever other personal reasons) our current bottom is at $32,951 - nearly 4 days ago as I type this post.
Yesterday (or was it the day before? the days all mix together sometimes, no?), I had already provided my tentative answer to this question, but I would not mind hearing what other WO posters consider a sufficient UPpity BTC price threshold in order to start to feel a wee bit cocky that the bottom for this correction may well be "in" (sure your might want to account for time, too.. but mostly I am trying to focus on price in this here question with a kind of presumption that the threshold could get crossed in the next 1 hour to 6 months).
Here are the response options:
1) Already enough UPpity to proclaim the bottom is "in".
2) Getting above $38k for more than a few hours will be enough
3) Getting above $40k
4) Getting above $42k
5) Getting above $46k
6) Getting above $50k
7) Getting above $55k
8.) Getting above $62k
9) Getting above some other price level not listed above (and perhaps some additional criteria?)
Pray tell. Opinions matters, especially the opinion of uie pooie (I won't even make any exceptions here.. for the sake of inclusivity.. hahahahahaha)
Edit:
Bonus question. Am I getting to be too presumptuous regarding conditions in which the bottom might be in with my asking the above question?
Bonus description: I acknowledge that there are going to be some WO active members here that want to fight with presumptions of the above question, and may well not want to participate in this proposition because they are having trouble accepting any conditions in which the bottom might already be "in"
Edit 2: After looking at a couple of responses: I believe that if you proclaim that "we need down before up" then you are fighting the hypothetical, and this hypothetical that I present is largely presuming up and asking "how much UP" do you need to see before you can conclude that the "bottom is in" which current bottom is already described as $32,951...
I see the tendency to fight the hypothetical, fight it...
This is a fun question... And my first answer was already disallowed since in this context I do not really think in "up" as much as end of down. So I am one of the ones that would like to see a sharp V shaped decisive bounce.
Another possibly annoying tendency will be that I do not really have a "point at which" but rather a range where the confidence begins increasing to a place where it is fairly strong. So I will give that range with a brief explanation. AS WELL AS A PICTURE! WOO!
Since the top we have created a fairly clear downward channel. I would like to see us:
1. ~40k Break out of that channel at which point hope begins.
2. ~43.2 Overcome the most recent top channel rejection at which point hope is strengthening
3. ~52k Where cAPS feels fairly positive.
So translating that into the JJG chart I would see two ways to pinpoint it:
1. An Average which looks to be about your #5 @~46k
2 The top which corresponds with your #7 @ >52k