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

[Lambie Slayer]

Bears wanna romp?!

https://www.youtube.com/watch?v=JjQo96b-JWY

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[Bitcoinaire]

Tone and the gang are still bearish, calling this a bull trap. Just keeping you all up to date to on the perma bears.

[HairyMaclairy]

Not to exceed ~$5,600ish.  Not saying we will get there, but saying $5600 - $5700 would be a local top.

[bitserve]

This is getting ridiculous. Can we stop around here for a while FFS?

[Lambie Slayer]

6K will come. There is no doubt.

[Hueristic]

Bitcoin Erupts As Short Positions Are Wiped Out
https://cryptobriefing.com/bitcoin-erupts-shorts-wiped/

So breaking 4,200 was it ? That's all we needed ?
5,500 at the end of the week ?



"Traders reacted to the news with cautious optimism. A few pundits suggested that the movement was led by bots, mistaking April Fool’s articles for real market sentiment.

In particular, Finance Magnates published a prank announcement that the SEC had approved Bitcoin ETFs, an issue which has sparked strong price reactions in the past. Some think this explains why Bitcoin seems to be leading the charge.

But the market move came sixteen hours after the FM story was published. If April Fool’s articles had had any discernible effect on the market, as some have said, algorithmic traders would have reacted far faster to the news. It would have been a matter of minutes, not a whole day.

George Harrap, the co-founder and CEO of Bitspark, believes it was probably a “natural move,” rather than a knee-jerk reaction by bots. Noting that Bitcoin is currently trading for $200 more on BitMEX than on conventional exchanges, Harrap suggests the movement was led by leveraged traders.

“This rules out any moves by local fiat exchanges or institutional influence,” Harrap wrote in an email. “It’s more of a natural move as compared with the price movements in 2018 where it seemed that too much was sold off.”
...
David Thomas, director of the crypto-brokerage firm GlobalBlock, argues that the price gained momentum due to technical trading. $4,200 was a “key level” for Bitcoin, he explained, one which it had been unable to break this year.

Short traders identified this level, and calibrated their positions to exit at that price.  When bitcoin broke past this morning, it triggered all the stops on short positions, removing resistance. This, Thomas believes, “exacerbated the move higher,” allowing Bitcoin to suddenly surge up to $4,800 within a relatively short space of time.
...
Thomas said some bullish traders are already predicting BTC at $5,500 as early as this coming week."

420, Magic number.

[cAPSLOCK]

Carolina.

Trains.

Rockets.

What more?

[Last of the V8s]

Dildos

What a day - amazing.
moar pls while I sleep

[Toxic2040]

Carolina.

Trains.

Rockets.

What more?

+1 WOsMerit

Yes..yes..more rockets please.

Dildos

Yes..yes..more of those too.

+1 WOsMerit

-image snipped and edited below for historical accuracy-  /s

[goldkingcoiner]

Takeoff!!! Hang on to your coins, we are about to break through the stratosphere!!!

[marcus_of_augustus]

This is getting ridiculous. Can we stop around here for a while FFS?

congratulations ... and so begins the new age of FOMO.

[Hueristic]

next resistance at 5700

Fuck your stupid-ass charts.  I am going to assert (without charts) that the next resistance is in the $6,200 to $6,500 arena (I know it is a broad range, but I can do what I like)... and I believe it will be difficult to get above that without a battle or at least some kind of meaningful correction.. but what the fuck do I know?   

$6420..

[HairyMaclairy]

Not to exceed ~$5,600ish.  Not saying we will get there, but saying $5600 - $5700 would be a local top.

Weekly 50 MA? Do you expect a drop from there and to where?

Correct, good spotting.  I don’t really have an opinion as to how low it will go but I doubt it could get much lower than $3900ish.  

[marcus_of_augustus]

I luv the smell of fried bear served with a side of desperate shorts in the morning.

[Biodom]

Love the rally, hate the fact that two forks are up much more. This is bizarre.

In addition, a very long bear market kind of numbed me to the downside, and probably to the upside as well.
So far, it's just first spring leaves coming out, nice, but, hopefully much more to come (in time).

[Hueristic]

^ WTF? Nice catch RAJA!

He's going NUTS!

He tried to buy The Onion dude.,

https://www.fastcompany.com/40545099/elon-musk-tried-to-buy-the-onion-and-now-theyre-owning-him-on-twitter

Twitter battle I'd say.

[lightfoot]

Oh dear, trains, rockets, spacemen, and I am beginning to get the urge to touch myself in public again.

Bitcoin must be doing better.

[jojo69]

somewhere at the bottom of a dusty pile is a collection of posts from joj on the way up saying 'wave five complete?'
we better brace ourselves

And was roundly chastised at the time as I recall.

[Hueristic]

420, Magic number.

Praise Jah, and The Flying Spaghetti Monster.

RAmen.

Need to tread carefully here, folks. A sudden stop, or drop, will risk spilling our drinks.

Hodl on tight to your beverages - or water, with flavor crystals, in my case - Committed to dry out. Continuing to feel good, and being productive in the studio. Good times.

Came up for some air, and nice to see the momentum ! Back into Cubase I go...

Strap on your colanders.

[BTCMILLIONAIRE]

There's something oddly satisfying about watching >1m sell orders just flash out of existence.