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

[sirazimuth]

Yeah let's Fuck The Pope.
....

https://www.youtube.com/watch?v=EFsZRQL6QdI

[JayJuanGee]

When does number cross 8K 

2am GMT

Getting damned close.

We could almost say that the inching up of BTC prices has been happening since March 12..... and that can be seen by every weekly candle coming out green for 6 weeks, and now we are on week 7, and will we get another green candle?  We have a whole week to find out because the sixth one just closed an hour ago, so the new weekly candle has barely begun.

Even the three day candles have only three red ones out of 15, so are we getting overheated, or can we persist and push up to $8k and perhaps above $8k?

By the way, one of my favorite past times continues to be answering questions with questions, so I am hardly the person to ask about my predictions, especially if they deal with the subject of the future.   

[Elwar]

So...the first price doubling has happened...

[sirazimuth]

Except I'm not in lockdown, my work is an essential business, and I consider myself very lucky to be still working with overtime in these surreal times.
I have my temperature taken before I'm allowed in the building (obviously has to be normal or I'm sent home) and mask mandatory.
My last job at work was a system to make ventilator parts for a major mega customer.
Makes me feel good about what I'm doing.
To be clear, I never drink on the job, but once shift ends and I'm home ...bottoms up.

[Toxic2040]

the evening wall report


A bearish engulfing candle on the hourly and a possible double top on the four hour chart is signaling a possible change on local time frames. A lot of sell orders stacking at the $7.85k and $8k range with traders appearing reluctant to engage at these levels. Sideways accumulation continues until the bearish $7.5k level or the bullish $8k level is breached for the confirmation of a trend change.

1h


btd's
4h


Six weeks of gainz leaving us sitting above high time frame support levels and testing a previous resistance zone are indicating we might see some profit taking soonish. A strong impulsive move above -0382 fib would over ride local bearish consolidation. #dyor
W

#stronghands

[JayJuanGee]

the evening wall report


A bearish engulfing candle on the hourly and a possible double top on the four hour chart is signaling a possible change on local time frames. A lot of sell orders stacking at the $7.85k and $8k range with traders appearing reluctant to engage at these levels. Sideways accumulation continues until the bearish $7.5k level or the bullish $8k level is breached for the confirmation of a trend change.

1h


btd's
4h


Six weeks of gainz leaving us sitting above high time frame support levels and testing a previous resistance zone are indicating we might see some profit taking soonish. A strong impulsive move above -0382 fib would over ride local bearish consolidation. #dyor
W

#stronghands

Are the shorts stacking up too, in order to provide some fuel for them to get RECKT?  That would be a lovely sight, no?  Might stimulate ting-a-lingies for any of us who might still be able to experience such feelings.

[Toxic2040]

Are the shorts stacking up too, in order to provide some fuel for them to get RECKT?  That would be a lovely sight, no?  Might stimulate ting-a-lingies for any of us who might still be able to experience such feelings.

You would really have to look at each exchange and see the L/S ratios. I dont have a overall metric that is easily disseminated unfortunately.

A quick look at Binance might give a general sense of market sentiment but its tether bound so...there is that.




I personally would love to see RECKTAGE with bear entrails scattered about...but I am just trying to report what I see jjg. Doing ones own research is always best imho. 

[JayJuanGee]

Are the shorts stacking up too, in order to provide some fuel for them to get RECKT?  That would be a lovely sight, no?  Might stimulate ting-a-lingies for any of us who might still be able to experience such feelings.

You would really have to look at each exchange and see the L/S ratios. I dont have a overall metric that is easily disseminated unfortunately.

A quick look at Binance might give a general sense of market sentiment but its tether bound so...there is that.




I personally would love to see RECKTAGE with bear entrails scattered about...but I am just trying to report what I see jjg. Doing ones own research is always best imho.  

Sure. Long/short ratios might not be your specialty, and surely I am not claiming them to be mine either, even though I recall some discussions in which sometimes there have been assertions regarding whether the ratios are appearing imbalanced in one direction or another, so you don't really seem to be showing extremes in one direction or another, and maybe it does not matter too much.  I know sometimes, also when the BTC price had continued to move in the upwards direction in early 2019 (between April and June), there were constant ongoing stacking of shorts all the way up from $4,200 to $13,880, and towards the last part of that, some of the bears just stopped shorting, maybe that last area between about $11k and $13,880 because they just kept getting reckt, over and over.  

I think that a similar thing happened on October 25, 2019 when BTC prices went shooting up from $7,300 to $10,300 within a matter of 12 hours.  I think that there was a series of reckt shorts.. so yeah sooner or later, the shorts are going to become correct, but if the price goes shooting up and they get reckt several times, such recktage seems to cause gun-shyness in shorting, at least for a period of time, and it tends to cause ting-a-lingies within my meat wagon RL being.

[bitebits]

One day we have to revise the topic of this thread to XBT/XAU. Observing the USD devalue gets boring, obvious and gives a fake sense of increased wealth.

[Toxic2040]

I surely reciprocate any ting-a-lingy feelings that are caused by bear gun shyness or recktage. I have never really bother with leveraged contracts...have never seen the point..it seems to me that moving the way the market 'naturally' goes is the better way. When market go down..buy some..when market go up..sell some. It could be that simple. 

My main bitcoin portfolio strategy is simple..just keep buying and hodling..he who hath the most coin, wins.   Highlander style.

[Icygreen]

I think it may have a hodl on me.    Opened a beer.. Ahh... forgot about the beer while cooking and poured some scotch.... Ahhh.... Finished the scotch and thinking dinner would go well with a glass of wine..Oh yes.. Ahhhh....  what's that?  oh yeah, there's my beer next to the green tea I started hours ago...   All good, I got this...now, where's that joint.

[elrippos friend]

And the terrorists are paying the badass COVID19 guys in BTC 

[JayJuanGee]

I surely reciprocate any ting-a-lingy feelings that are caused by bear gun shyness or recktage. I have never really bother with leveraged contracts...have never seen the point..it seems to me that moving the way the market 'naturally' goes is the better way. When market go down..buy some..when market go up..sell some. It could be that simple. 

My main bitcoin portfolio strategy is simple..just keep buying and hodling..he who hath the most coin, wins.   Highlander style.

I recently heard an interview with a person who advises clients and creates investment recommendations that involve investing in BTC; however, before March 12, that person did not realize that there were places within bitcoin markets in which trading could be accomplished with 100x leverage, and such person said that he needed to change his perceptions of what is possible in bitcoin because of such craziness that is likely taking advantage of gamblers..

Remember Bitmex had to pretty much shut down its exchange for a period of time on March 12 because BTC bears would have likely dumped BTC prices to somewhere close to zero if they had the opportunity in order to pick up some cheap BTC.  They had no mercy in their greed, but some of them ended up getting reckt because the exchange shut down and screwed some of those manipulators out of their position to push the BTC price to as close to zero as they could get it...

Merely because there was such extreme downward BTC price pressures on Bitmex would likely NOT have caused BTC prices to go as low in other exchanges, but you never know, but such extreme abilities for traders and manipulators contribute to crazy ass irregularity possibilities within bitcoin that is not likely to go away while 100x leveraging continues to exist, and even though none of us regular and sane BTC HODLers engage in such stupid ass behavior, sometimes we need to account for BTC price dynamics that allow for such crazy-ass extremes in a kind of wild, wild west way and maybe sometimes we will benefit from such crazy-ass extremes and other times, we might feel that we are getting exploited and manipulated ourselves because of the conduct of others including the fact that some of those kinds of irrational and crazy tools allow some bitcoin gamblers to play with extremes, and sometimes getting really fucked... A whole fund came down because they were not able to play such games on bitmex

https://cointelegraph.com/news/crypto-hedge-fund-goes-belly-up-after-bitcoin-price-drop-to-38k

The bitmex March 12 story:
https://www.longhash.com/en/news/3287/How-High-Leverage-in-the-Crypto-Market-Crashed-Bitcoin-to-$3,800

My point for bringing up the bitmex story is not to complain about bitmex but instead to point out wild ass bitcoin price dynamics that can end up affecting us regular joe blows, and maybe give us fewer feelings of ting-a-lingies if BTC prices are very irrational for periods of time and seemingly fueled by others engaging in such crazy-ass leveraging behaviors that might not even be allowed in regular markets.

[JSRAW]

I think it may have a hodl on me.    Opened a beer.. Ahh... forgot about the beer while cooking and poured some scotch.... Ahhh.... Finished the scotch and thinking dinner would go well with a glass of wine..Oh yes.. Ahhhh....  what's that?  oh yeah, there's my beer next to the green tea I started hours ago...   All good, I got this...now, where's that joint.

So, Mrs still away?

[VB1001]

The Memes Make the Bitcoin

An introductory guide to popular Bitcoin memes and their significance.

https://blog.lopp.net/the-memes-make-the-bitcoin/

BTCulls ready.
$7,750

[Millionero]

And the terrorists are paying the badass COVID19 guys in BTC  

Bullish!

The bitmex March 12 story:
https://www.longhash.com/en/news/3287/How-High-Leverage-in-the-Crypto-Market-Crashed-Bitcoin-to-$3,800

That story paints a pretty clear picture.  I've seen some posts here ridiculing the idea of circuit breakers.  But the March crash stopped where it did because the people who enabled it (Bitmex) pulled the plug.  Basically, the fox decided not to eat all the hens because he knew it would mean the end of him.  Not a healthy market.  And the fox (extreme leverage) is still in the henhouse.

[serveria.com]

indicating we might see some profit taking soonish

2 weeks before the halving? Well... umm.... mmmkaaaay.... 

[Cryptotourist]

The bitmex March 12 story:
https://www.longhash.com/en/news/3287/How-High-Leverage-in-the-Crypto-Market-Crashed-Bitcoin-to-$3,800

My point for bringing up the bitmex story is not to complain about bitmex but instead to point out wild ass bitcoin price dynamics that can end up affecting us regular joe blows, and maybe give us fewer feelings of ting-a-lingies if BTC prices are very irrational for periods of time and seemingly fueled by others engaging in such crazy-ass leveraging behaviors that might not even be allowed in regular markets.

Nice one J.

Once BTC broke below $4800, everything was totally dominated by cascading liquidations on BitMEX in particular, and through crypto (both exchanges and credit desks) more generally. It kind of became its own monster.
I don't know anyone who chose to sell at, say, $4100,” Paul explained.

https://twitter.com/AriDavidPaul/status/1238488511810023425

Well, he doesn't know mindrust now, does he?

WO knows, moon.soon

[BayAreaCoins]

Hopefully, this is that run to $10k.

[Last of the V8s]

All Members

THE BRITISH GRENADIER

During this unexpected and somewhat painful experience that we are now experiencing, perhaps we can find time to reflect back to the WW2 period where our previous generation went through experiences that must have daunted many, and hopefully, we will never have to go through.

Let us adapt this spirit to get through the difficult time that we are all now experiencing.
 

Extract.   RSM Lord has served under my command almost continuously since the formation of the 1st Parachute Brigade, and during this time, he has shown a standard of loyalty, drive and devotion to duty which it would be hard to equal.

Regimental Sergeant Major Lord, Grenadier Guards, was "King" of 6000 British and American troops during the second world war in the POW camp Stalag X 1B.

RSM John Clifford Lord MBE spent six months in Stalag X1B.  He was taken prisoner with several hundred men of the First Airborne at Arnhem..  He found British and American prisoners living in conditions of hopeless misery and squalor.

However, this is what Major Ralph Cobbold, Coldstream Guards, found when he and his Company arrived at the camp on liberation day.    At the gate was an impressive Guard in a maroon beret.  Then the majestic figure of RSM Lord strode forward, with gleaming brasses, immaculate webbing,  razor sharp trouser creases and dazzling boots.  He came to attention and gave a spectacular salute.

Passing through the camp on a tour of inspection, Major Cobbold was able to judge the magnitude of the task performed by RSM Lord and his team of NCOs.

In place of the lifeless confusion of 6 months earlier,  the Major and his company saw everywhere evidence of the highest morale and firm discipline which had sustained the prisoners throughout their ordeal.

Thank you John H*** for this bracing piece from our fellow Association



 Take care everyone and remember to keep your “Social Distance”

 However do no forget to keep a shine on those toe caps.

 Hon Sec