Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Toxic2040]

Meh... I am interested in bigger moves than $10..

We have almost arrived back at the 200 weekly MA, which I fully expected us to retest after a short bounce...

Got the death cross 50 though the 100 on the cards..

BBs have opened up already on larger time frames,  but we are well constricted on the 1 hour..

We have formed a bear flag, at the bottom of the support zone of an overall descending triangle.

So.. IMO. either we bounce somewhere between here and the 200 week MA, perhaps with a little overshoot...  and then in that scenario I see us likely to put another lower high and then coming back down for a third test ....  or..... 

So far it looks same as it did , a month ago,  I have the same outlook and same support levels based on previous r/s and volume profiles. so far nothing surprising has happened, in fact BTC has been quite the well behaved and relatively predictable (excluding those glorious wicks.. hunters hunting)   but now with more confirmations.....it still looks bearish to me at this present moment.... pretty interested to see how we react  between here / 200 week MA though and if it holds/ if we bounce from there.  

Volume is still not impressive, and below even the volume levels at the local low.. yes it was up yesterday, but still low.

Doom outlook un-changed for now.

I am pretty happy about it.

I agree and was being facetious with the short time frame comment and charts. If there is any correlation with the last bear market we are approaching its end soonish. I do however think that this sideways/accumulation phase could go on even longer than I have predicted. There is some data indicating that this period could extend well into 2020. My hope that it is just post bear market noise cluttering the airwaves.

Cards on the table.
D

[1714207944]

1714207944

[Vaculin]

Looks like we are going to end this month with a wrong prediction again.
It's almost impossible for BTC to cross $5,000 with just 2 days remaining, next poll voting, I think people will vote the same.

[empowering]

I agree and was being facetious with the short time frame comment and charts. If there is any correlation with the last bear market we are approaching its end soonish. I do however think that this sideways/accumulation phase could go on even longer than I have predicted. There is some data indicating that this period could extend well into 2020. My hope that it is just post bear market noise cluttering the airwaves.

Cards on the table.
D
 

My apologies, lack of sleep tbh I somehow missed the obvious joke...

Yes, recovery timing is hard to call, many factors, though 1st we need to find bottom....my feeling is people are actualy too comfortable at this level.. and so more pain.. but once we find bottom,  and then if the market has any symmetry.... 2020 it could be.

I have wondered though.. if we have reached exhaustion or are nearing exhaustion from retail... Or if there is another batch of quivering fearful hands to cull with one last viscous move, one that makes people rue the day they ever decided to crypto all over the place... followed by a long recovery period which lasts until either a catalyst sparks the market, or we get too close to the halving.


Anyways... 1st things 1st we need bottom.

(ass.gif)



 

[kenzawak]

30 more ATMs coming to Chicago :

https://www.newsbtc.com/2019/01/29/chicago-bitcoin-atm-hot-spot/

"According to a report in Chicago Business, the city is about to receive an additional 30 cryptocurrency ATMs. These will be provided by Lux Vending under the brand, Bitcoin Depot."

[HairyMaclairy]

Fractal fetishists rejoice !

[Phil_S]

I have a gut feeling that we'll see a February bottom that will be similar to December bottom.

Somewhere around Feb 6 - Feb 10.

[kurious]

^ Isn't Chinese New Year the 5th?

[HairyMaclairy]

I really admire the stoic nature of you hodlers.  Hardened veterans all.  

[LFC_Bitcoin]

I really admire the stoic nature of you hodlers.  Hardened veterans all.  

SELL?

NEVERRRRRRR !!!!!

[El duderino_]

I really admire the stoic nature of you hodlers.  Hardened veterans all.  

We are just the CORE hodlers in here

[cool4y]

https://www.reddit.com/r/Bitcoin/comments/akl4on/oc_how_many_people_are_using_bitcoin_by_country/

The most surprising here are India and Indonesia. I thought compared to how popular is internet in India and how popular are Gold and cash there, Bitcoin is way behind. I guess just news dont come out.

Being a third world country, citizens of India barely meet ends. Using such technological advancements and having disposable income to gamble on Bitcoin is something I would not expect tbh.

[Arriemoller]

https://www.reddit.com/r/Bitcoin/comments/akl4on/oc_how_many_people_are_using_bitcoin_by_country/

The most surprising here are India and Indonesia. I thought compared to how popular is internet in India and how popular are Gold and cash there, Bitcoin is way behind. I guess just news dont come out.

Being a third world country, citizens of India barely meet ends. Using such technological advancements and having disposable income to gamble on Bitcoin is something I would not expect tbh.

The third world doesn't exist anymore. Almost all countries in the world is now doiing ok, including India.

https://youtu.be/RUwS1uAdUcI?t=373

[Globb0]

I have people work for me in India and I saw on their instagram etc. they all have iphones and stuff. Plenty of tech.

I expect there is a wide variation in the country.

But for a long time countries have been using teams there working with technology and development.

[shahzadafzal]

In TA-related news,
https://www.newsbtc.com/2019/01/26/bitcoin-btc-could-be-gearing-up-for-a-big-move-as-sideways-trading-persists/

it could see a price surge up to $4,000.

Are up serious right now? Bitcoin price could surge up to $4,000??? i think he forgot one zero there... actually he wanted to say:

it could see a price surge up to $40,000.

[kenzawak]

Two Hacker Groups Responsible for As Much as $1 Billion in Stolen Crypto

https://ci.covesting.io/news/cryptocurrency-news/two-hacker-groups-responsible-much-1-billion-stolen-crypto

"Blockchain analysis firm Chainalysis has revealed new data that suggests that two cyber-criminal rings could be responsible for the majority of cryptocurrency stolen in recent years.

While there are dozens of hacker groups across the globe, and many more individual hackers working in solitary, two specific groups are said to be responsible for as much as $1 billion in stolen cryptocurrencies, according to a new report featured in the Wall Street Journal.

New research from Chainalysis claims that two groups, only referred to as Alpha and Beta, are responsible for an overwhelming majority of all cryptocurrencies stolen as part of scams. These scams often include phishing attacks, Twitter giveaway schemes, and much more."

[BTCMILLIONAIRE]

Going to take this opportunity to shill two prog rock albums in case anyone here is into that. Both are actually from 2017 as opposed to the 1970s though.

King Gizzard and the Lizard Wizard - Flying Microtonal Banana
As the name suggests, this one is microtonal, e.g. using notes that aren't represented on traditional chromatic 12-note scales.

I checked this out. I wouldn't call it prog rock - it lacks the complication and the grandiosity. It sounds like psych rock to me. Good though.

Prog was the first/only thing I could think of due to the odd time signatures, but yeah it's definitely far more simple than stuff like Supper's Ready or Close To The Edge. Not really aware of any psych rock, so that didn't cross my mind.

Thanks for this. Listening to the 1st one and I like it!

Merited.

Thanks, glad you like it.

some news of our "best" friend JPM.

https://www.coindesk.com/cryptocurrencies-would-only-have-value-in-dystopian-economy-jpmorgan

Aren't most people convinced of a dystopian future? Replacing the dollar and possibly a technological singularity sound like at least a quasi-utopia to me though.

[BTCMILLIONAIRE]

Going to take this opportunity to shill two prog rock albums in case anyone here is into that. Both are actually from 2017 as opposed to the 1970s though.

King Gizzard and the Lizard Wizard - Flying Microtonal Banana
As the name suggests, this one is microtonal, e.g. using notes that aren't represented on traditional chromatic 12-note scales.

King Gizzard and the Lizard Wizard - Polygondwanaland
This one isn't, but still good.

KGATLW, yeahhh.
Here is "The Crumbling Castle":
https://www.youtube.com/watch?v=8Ycw7udHOnw

Opinions can vary, but I get goosebumps from this stuff.

Didn't expect someone to actually know them on here. Coincidentally, Crumbling Castle was playing at one of the university cafes, which is how I learned about them.

Have you listened to any of their other albums that you can recommend? Seems like they've been pretty busy with five albums in just 2017.

[kenzawak]

Saigon, Vietnam...

[crypmike]

Saigon, Vietnam...

lmao, that's cool

[El duderino_]

Saigon, Vietnam...

good morning world traveller..... getting jealous on all those spots
enjoy and share
THX