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

[Last of the V8s]

@UltraXBT

Imagine just buying spot bitcoin and calmly sitting down and having a relaxing cup of coffee

Instead you leverage trade the chop zone until you are homeless

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[Cryptotourist]

Bears are still in control, bulls are sweating  

There is a last attempt of a bullish run but clearly to kill some shorts that have been placed too low. 9.4k today or tomorrow is likely, maybe 9.8k but after that it will bloody for the bulls. By using the Elliott Waves theory once can easily see we reached our top for 2020, but perhaps October-November will be the best opportunity of a lifetime to buy Bitcoin at a cheap price. If we have a double bottom at 3.1k end of the year, I will clearly turn bullish for the years to come!




Best of luck  

We've already had our double bottom - DEC'18, MAR'20 - in parallel alike, prior to the 2016 halving.

But please, suit yourself, WO would love to see you FOMO-in @$15k.

[Krubster]

Gox Rising Announces Intent To Purchase Mt. Gox Creditor Claims

https://finance.yahoo.com/news/gox-rising-announces-intent-purchase-130000275.html

"We recognize that some investors may not wish to wait any longer to see what the final resolution and payout will be and how much longer that payout will be delayed," said a Gox Rising spokesperson. "Each claim will need to be individually reviewed, but we are looking to offer $800 US per BTC claim. Gox Rising will pay that in Bitcoin, or in the fiat currency of the Creditor's choice. Our payment would be put in escrow and made within 10 business days of the claim transfer confirmation."

Wow, you'd really have to be desperate to sell your claim for $800 per BTC. I don't see how anyone would consider this offer. Even if you would consider to sell, Fortress is a better alternative I reckon. They offer $1300 per BTC, or somewhere in that region.

[Globb0]

Maybe people with only $400 of BTC   

[Bossian]

Wow look who's back. Bears are still in control? Muahaha, made my day... bears were in control last time back in 2018! Corona dump wasn't planned it was caused by force majeure and weak hands (mindrust reference goes here).

P.S. And get your BTC ready to pay to LFC for your lost bet (I doubt that you have any and/or that you're planning to pay).  

Rejection again at 10.5k in February and 10.1k in May means bears have the upper hand. It's crystal clear  

Bears are still in control, bulls are sweating  

There is a last attempt of a bullish run but clearly to kill some shorts that have been placed too low. 9.4k today or tomorrow is likely, maybe 9.8k but after that it will bloody for the bulls. By using the Elliott Waves theory once can easily see we reached our top for 2020, but perhaps October-November will be the best opportunity of a lifetime to buy Bitcoin at a cheap price. If we have a double bottom at 3.1k end of the year, I will clearly turn bullish for the years to come!




Best of luck  

We've already had our double bottom - DEC'18, MAR'20 - in parallel alike, prior to the 2016 halving.

But please, suit yourself, WO would love to see you FOMO-in @$15k.

Next time Bitcoin is trading @ 15k, it will still be a great opportunity to buy, in my model Bitcoin price can reach 85k if it gets past 10.5k and consolidate for a month above this price, but for the model to be valid, Bitcoin needs to go down to 3.1k first for a double bottom, then we can see 85k for 2023-2024.

But still no point in buying now if you can buy at 3.1k later this year. Well I would say 3.1k is likely but to be safe, buy more coins at 5.5k which is extremely likely to happen by July   No financial advice, do your own research. By the way you have one of the coolest usernames here.

[nutildah]

October-November will be the best opportunity of a lifetime to buy Bitcoin at a cheap price.

Translation: I'm a bitter nocoiner who failed and missed all possible dumps and now I'm hoping to fill my bags (buy 0.001BTC) during the "one last superdump to $3k". Yeah been there done that, you're not the first and not the last person like that here.  

His analysis is woefully ignorant of the fact that the Federal Reserve just injected a few trillion dollars worth of liquidity into the markets. People are idiots if they don't think at least a few billion of it is finding its way into BTC every now and then.

By using the Elliott Waves theory

There was some pretty serious riots across Minneapolis in the past hours. Here's a video of the police guarding the killer cop's house:

https://twitter.com/Gerrrty/status/1265911668632059904

Pretty nuts. It's like they are expecting an invasion or something.

[JayJuanGee]

Damn stocks!

I am pretty sure that the picture is much different if you take a longer time horizon and then you start them out at the same place on that longer time horizon.

In other words, it is not worth it to beat yourself up over either BTC's underperformance or correlation with stocks on the short term... even though it is still interesting to see, it is not reflective of the BIGGER picture, either in terms of from where bitcoin has come or where it is likely to go - relative to stocks.

[soullyG]

Went to grab some breakfast and suddenly BTC is up $200

[JayJuanGee]

Bears are still in control, bulls are sweating  

There is a last attempt of a bullish run but clearly to kill some shorts that have been placed too low. 9.4k today or tomorrow is likely, maybe 9.8k but after that it will bloody for the bulls. By using the Elliott Waves theory once can easily see we reached our top for 2020, but perhaps October-November will be the best opportunity of a lifetime to buy Bitcoin at a cheap price. If we make a double bottom at 3.1k end of the year, I will clearly turn bullish for the years to come!




Best of luck  

Although your "desired" (?) trend line is downwards, the market went up in the last ~24h. Not much, but still.. let's be honest and admit that the bears are sweating too 

Surely a bit of a stretch to consider bears in control in these times, but hey dreamers are gonna dream.   

[Bossian]

Bears are still in control, bulls are sweating  

There is a last attempt of a bullish run but clearly to kill some shorts that have been placed too low. 9.4k today or tomorrow is likely, maybe 9.8k but after that it will bloody for the bulls. By using the Elliott Waves theory once can easily see we reached our top for 2020, but perhaps October-November will be the best opportunity of a lifetime to buy Bitcoin at a cheap price. If we make a double bottom at 3.1k end of the year, I will clearly turn bullish for the years to come!




Best of luck  

Although your "desired" (?) trend line is downwards, the market went up in the last ~24h. Not much, but still.. let's be honest and admit that the bears are sweating too  

Surely a bit of a stretch to consider bears in control in these times, but hey dreamers are gonna dream.  

Indeed my friend, "in control" may not be the best word to describe the situation but you get the idea. I will be a bull when I need to be but not now, there are enough signals in the charts for a big crash coming in 1 or 2 weeks once May closes under 9.4k. This should be quite devastating and it is better to be prepared.


@nutildah: usually don't care about this kind of news to be honest, but thanks for posting

[Phil_S]

[JayJuanGee]

@UltraXBT

Imagine just buying spot bitcoin and calmly sitting down and having a relaxing cup of coffee

Instead you leverage trade the chop zone until you are homeless

That tends to be one of the perils of trying to trade before your position is profitable.

In other words, if you spend enough time accumulating BTC, then you are going to be in profits and ahead of the trade.

So one of the secrets is getting ahead of the trade so that the price is coming to you.

For example, if I spent the past three years dollar cost averaging into bitcoin, my average  cost per BTC would be $6k, so if i had invested $60k, I would have 10BTC.

So if I want to trade, maybe I would be trading with less than 1BTC.. but not even all of it at once, so maybe it would take me all the way to nearly $20k by the time that I sold that BTC, and if the price goes down, then i could buy back with the proceeds (supplemented by DCA, if I am doing DCA).  

In other words, I have to think through the consequences of trading any portion of that BTC, so if the BTC price ends up doubling and I do not get any BTC back, would I be willing to live with a situation in which I might only have 9 BTC at $20k, rather than the 10BTC that I have right now?  My personal approach is that if I am not able to be ok. with only having 9BTC at $20k, then i better not be selling on the way up.. otherwise, if I am o.k. with that scenario, then I am prepared for the consequences of my selling on the way up actions.

Oh by the way.. .leveraging is another story.  Just say NO to that shit.  You will thank me (and apparently UltraXBT via V8) later.

Bears are still in control, bulls are sweating  

There is a last attempt of a bullish run but clearly to kill some shorts that have been placed too low. 9.4k today or tomorrow is likely, maybe 9.8k but after that it will bloody for the bulls. By using the Elliott Waves theory once can easily see we reached our top for 2020, but perhaps October-November will be the best opportunity of a lifetime to buy Bitcoin at a cheap price. If we have a double bottom at 3.1k end of the year, I will clearly turn bullish for the years to come!




Best of luck  

We've already had our double bottom - DEC'18, MAR'20 - in parallel alike, prior to the 2016 halving.

But please, suit yourself, WO would love to see you FOMO-in @$15k.

You are giving that dweeb too much benefit of the doubt.  He's not likely to "FOMO in" until about $60k or maybe a bit higher than that.

[Phil_S]

I am pretty sure that the picture is much different if you take a longer time horizon and then you start them out at the same place on that longer time horizon.

In other words, it is not worth it to beat yourself up over either BTC's underperformance or correlation with stocks on the short term... even though it is still interesting to see, it is not reflective of the BIGGER picture, either in terms of from where bitcoin has come or where it is likely to go - relative to stocks.

Yeah, at the previuos graph (the one with the gold) the starting point was January 2019, and clearly there was no correllation in 2019.

[LFC_Bitcoin]

@UltraXBT

Imagine just buying spot bitcoin and calmly sitting down and having a relaxing cup of coffee

Instead you leverage trade the chop zone until you are homeless

[vapourminer]

@UltraXBT

Imagine just buying spot bitcoin and calmly sitting down and having a relaxing cup of coffee
[...]

good thing i love my coffee then. i drink so much coffee a day an MD i worked with told me if i ever stopped cold turkey i might have a seizure. i never could get him to admit if he were joking or not.

[Room101]

It's weird how complicated people like to make shit. People have been talking about Elliot waves and bitcoin since I started here in 2013. Buy now, sell now, definitely this is what the future holds. Sounds fucking stressful if you ask me. Plus a recipe to end up with 0 bitcoin. I'm sure there are people out there that have made a killing, survivorship bias and all that. Maybe even a couple know what the fuck they are talking about. Still stressful.

With btc the KISS principle has always worked out pretty fucking well, and will continue to do so as far as I can see.

Buy bitcoin. Only sell if you absolutely have to. Like a loved one needs a kidney, or the bank is coming to repossess your house or some shit. In bear markets don't look at the price. Sometimes for years. Chill the fuck out. Don't think you are smarter than you really are, sure as fuck don't think you are smarter than the chaos that is bitcoin price movements.

Buy bitcoin. Don't stress. Don't sell. Don't be greedystupid.

If every chart producing oracle that has come and gone from these pages had done that, there would be a lot more rich forum members. Your charts, models and fancy theories will send you broke. I'll still be here. Once I forgot my password for 3 years. Thank god for JohnTheRipper.

Buy bitcoin. Chill the fuck out.

[JayJuanGee]

It's weird how complicated people like to make shit. People have been talking about Elliot waves and bitcoin since I started here in 2013. Buy now, sell now, definitely this is what the future holds. Sounds fucking stressful if you ask me. Plus a recipe to end up with 0 bitcoin. I'm sure there are people out there that have made a killing, survivorship bias and all that. Maybe even a couple know what the fuck they are talking about. Still stressful.

With btc the KISS principle has always worked out pretty fucking well, and will continue to do so as far as I can see.

Buy bitcoin. Only sell if you absolutely have to. Like a loved one needs a kidney, or the bank is coming to repossess your house or some shit. In bear markets don't look at the price. Sometimes for years. Chill the fuck out. Don't think you are smarter than you really are, sure as fuck don't think you are smarter than the chaos that is bitcoin price movements.

Buy bitcoin. Don't stress. Don't sell. Don't be greedystupid.

If every chart producing oracle that has come and gone from these pages had done that, there would be a lot more rich forum members. Your charts, models and fancy theories will send you broke. I'll still be here. Once I forgot my password for 3 years. Thank god for JohnTheRipper.

Buy bitcoin. Chill the fuck out.

Great ideas, except the part about forgetting your password(s).  With bitcoin, and the power (and responsibility of being your own bank), you gotta stay active enough, at least, to check your passwords from time to time, even if it is just a couple times a year.

[lightfoot]

- Carnage happening in Brazil due to Jair Bolsonaro misplaced policy, 2 health ministers already resigned.

What's this about specifically?

Sao paulo digging 13.000 graves to cover all those corpses, people die in their own blood because they don't have ventilators.

Massgraves appears all over they country.

Ooooh. I remember working on this stuff with other countries. The soccer fields turned into graves were pretty interesting to spot next to the little burned huts.

Reality exists. Oh well.

[lightfoot]

Meantime looks like Bitcoin is doing well today. About time to see 10k+

[LFC_Bitcoin]

Meantime looks like Bitcoin is doing well today. About time to see 10k+

$11,000+ excites me, feels a long time since we touched those lofty heights.