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

[sirazimuth]

.......Understanding how is not really the important part, understanding why is and if you understand that then feel free to share.

If you are referring to the “how” and “why” of the existence of the Universe then I beg to differ
(if not then nm rest of my post)
How the universe came into existence is a whole branch of science aka cosmology and is pretty
important in advancing human knowledge (in my book anyway).
Asking why the Universe exists is kind of silly imo. The question assumes the Universe has a
purpose. Unless you buy into all that magic sky fairy crap and all the superstitious nonsense that
follows (sadly, like most of the human population) aka all religions, you know the Universe has no
purpose. It just is.
Just for shits and giggles I googled “why does the Universe exist” and the 1st result was a bunch of
godswill mumbo jumbo....what a surprise, lol .

You just made my point.

Hey anytime dude! 

[1713439975]

1713439975

[1713439975]

1713439975

[somac.]

Yeah, manipulate all the fuck that you want, does not mean that they can keep it up forever. 

I think what we are seeing here is the manipulation that has been going on for last couple years now. In a bear market it works great for them, they can beat down the price and it stays down and goes lower. Try this this continuously in a bull market though and your beat down gets bought up and you don't get to re-enter at the low prices.

As the manipulators coins start to dwindle, they get worried and stop, they learn that despite being a whale the market is actually much bigger than them. At this point prices start rising and then you have a 2016 happen, followed by a 2017.

Well the sad truth about "them" is they go Brrrrrrrr.

Are you saying these manipulators are the FED? are you also saying that the FED has a huge supply of BTC to sell. Because yeah, if they did we might have a problem. Or perhaps you mean the FED is playing in the derivatives markets so they can sell forever. Just know that the derivatives market won't be leading shit when there are no physical coins to buy. Why is gold a 10 trillion market, if the FED had unlimited power to keep it down, it should be worth nothing.

Sorry I can't reply to your response I won't be here for a while.

[dragonvslinux]

$10K here we come again? Just noticed price wicked back to 5 figures for a moment   Some decent volume to support this move on lower time frames:



Notably on Bitstamp the 1hr candle looks more indecisive with stronger selling pressure, but still looking bullish none the less:



An initial rejection on smaller time-frames from $10K is to be expected, with some bears on Bitstamp clearly panicking a bit  

[rdbase]

Is this some kind of algorithmic trading?
Bizarro.
...at least coinbase didn't glitch, apparently

Comical manipulation

Maybe.. just MAYBE ... it is Craig Wright fake M.D making a medical call to save BTC from the depths of despair.
this might get me -2000 WOsmerits but meh.

follow up note below, on this revelation of wtf is going on with the price and it not breaking $10k already. God almighty ShAzHaMeR her already so she is satisfied!

Going down into the depths:

Who is coming along on down for the ride?

Why the price is so crazy right now. *cue beyonce back up singers*

https://www.youtube.com/watch?v=He7RrJsDnLo

Funny I didn't know amazon called the shots?

Amazon bans police use of facial recognition technology for one year

https://www.cnbc.com/2020/06/10/amazon-bans-police-use-of-facial-recognition-technology-for-one-year.html

Amazon owns all our base.
Didn't you know?

Between them google, microsoft and facebook they know what everybody is doing and where they are at every given moment of everyday.

All your base are belong to us!
https://www.youtube.com/watch?v=jQE66WA2s-A

[strawbs]

.......Understanding how is not really the important part, understanding why is and if you understand that then feel free to share.

If you are referring to the “how” and “why” of the existence of the Universe then I beg to differ
(if not then nm rest of my post)
How the universe came into existence is a whole branch of science aka cosmology and is pretty
important in advancing human knowledge (in my book anyway).
Asking why the Universe exists is kind of silly imo. The question assumes the Universe has a
purpose. Unless you buy into all that magic sky fairy crap and all the superstitious nonsense that
follows (sadly, like most of the human population) aka all religions, you know the Universe has no
purpose. It just is.
Just for shits and giggles I googled “why does the Universe exist” and the 1st result was a bunch of
godswill mumbo jumbo....what a surprise, lol .

You just made my point.

And you just made my point too

Lol, not quite but close enough as I will not spend the time necessary but the universe will explain it to you if you have the ability to listen, it has more than enough time.

One of the first lessons you should have learned from the universe is that there is no such thing as time 

[Hyperjacked]

Acid is a young persons game. After you get the message, hang up the phone.

I can't agree with you there Jimbo. I'm far from young and still use it. I find that the message changes over time. You could say it gives you the message you need to hear at the time.

Once you understand the universe you really don't need any more knowledge.

You haven't gotten the full picture yet.

Oh, I understand the universe as well as anyone can. Lots of help from meditation and psychedelics in that regard. However, I'm far from being able to claim omniscience. Anyone who claims to have the full picture most definitely does not have the full picture.

Understanding how is not really the important part, understanding why is and if you understand that then feel free to share.

OT:
All those who face the future are not doomed...embrace what you cannot change and enjoy the ride!
"How"is actually the thing we will be researching for millions of years and still not grasp... the "why"is quite simple just like everything in science when it is boiled down.
This is OT and not for wall observer and price action or I could discuss for hours... 🍻
Cheers hodlers and see you much higher 😎

[sirazimuth]

.....
This is OT and not for wall observer....

No worries being OT in here once in awhile, it’s what gives this thread its unique character.
Just don’t mention shitcoins or Jay will give you a Batman slap....

[Toxic2040]

the evening wall report

Another volatile intraday showing by bitcoin as we close today at $9,894.32       

Currently trading around $9.9k above short fib resistance at $9,881.68 and closing the door on a possible bearish long wick doji from the previous day imho

We have earned 5 digits and will not be denied       That is all

 
4h


#dyor
D

#stronghands

[jbreher]

So, how does one take over a corporation by force, assuming the article means physical here given the context? Other than getting the gov't involved.
https://cointelegraph.com/news/bitmain-struggle-continues-as-ousted-ceo-reportedly-halts-asic-deliveries

Recent actions in June saw Zhan gain ground in the confrontation as he resorted to force, and now appears to have gained enough control to at least partially disrupt Bitmain’s operations, which was until then working normally.

According to what I've seen, Zhan burst into the office with a couple dozen mercs, took it over, and offered bonuses to any employee that would support him. <comic sans> so drama </comic sans>

[jojo69]

number

[lightfoot]

Seems more like a nice drift up to 10k as opposed to yet another fake run.

[dragonvslinux]

Bull flag extrapolation on the 10 minute chart  Unlikely to occur, but wouldn't be surprised to see this happen either once volume returns again.



Keeping my eye on this price movement, it's starting to get interesting again 

[yefi]

number

numbest

[bitebits]

[...] In other words, fuck these claims about manipulation, and sure they are going to do it and sure they are going to try, and sure we are going to find out if they are going to be able to suppress bitcoin similarly to the ways that they have been able to suppress gold and silver, and my hunch is that they are going to be in for a rude awakening at some point, even if they might have some temporary bouts of success to temporarily manipulate bitcoin, but in the end, there is likely ONLY so much manipulation that they are going to able to achieve with king daddy...
[...]

Proof of keys fixed this, can’t do that with gold.

Anyone ‘storing’ their bitcoins on an exchange potentially contributes to the manipulation. Take back control of your private keys and let’s see who is swimming naked.

[JayJuanGee]

Hey, Torque, I agree with a lot of the things that you say, and your various macro-level observations, but even you should realize that you have both a tendency to go overboard with your conspiracy angle and your seemingly want to concede way more powers to status quo institutions than those fucktwats deserve and even taking matters way more personally than they should be taken.  

Underestimating those fucktards is why we have not seen another ATH.

All bitcoiners need to stay away from derivatives and grow the market and that is how we win.

Well, you might be correct, and surely owning bitcoin directly remains a very powerfui weapon that distinguishes it from other markets that end up getting manipulated, including gold, silver, oil and other markets, but with bitcoin, we can take possession of our keys and find a lot of accountability making power through that.

On the other hand, it seems to me that financialization remains a kind of necessary evil, and we cannot really stop them from coming, and stop some people wanting to create a variety of financial tools and a variety of ways that traditional financial institutions can get into custodially holding bitcoin, whether through retirement accounts or various other kinds of funds.

So, they can attempt to manipulate BTC's price down or up, but in the end, we still need to see how all of these matters are going to play out, and I doubt that the fact that various institutions and governments are going to try to manipulate and control and tame bitcoin is going to take away bitcoin's investment thesis and the fact that bitcoin remains a good, solid investment asset. 

By the way, some smart governments might end up trying to front run other governments in terms of both competing in the mining of bitcoin and the competing in the stockpiling of a financial reserve in bitcoin, and those likely behaviors do not hurt bitcoin's investment thesis, either.

[Hueristic]

By the way, some smart governments might end up trying to front run other governments in terms of both competing in the mining of bitcoin and the competing in the stockpiling of a financial reserve in bitcoin, and those likely behaviors do not hurt bitcoin's investment thesis, either.

I would be flabbergasted if this happened but it would definitely be  Hammer time!

[JayJuanGee]

Even though you have a lot of dumb ideas?  
 

You mean dumber than your massive wall-of-text word vomit ideas? Doubt it.  

That's the spirit, Torque!!!!!

Put up a little fight, and don't allow me  to triumph too easily.  Touché.  

You likely realize that I am not going to agree with your assertion that your frequently occurring conspiratorial manipulation dumb ideas are purportedly not dumber than the (generally speaking) substantive content of my sometimes happening walls of text..

What half-way paying attention non-robot would agree to those kinds of conclusions?  Surely, not this one.  

Nonetheless, my earlier observation about the dumbness of your ideas was mostly meant to verify whether you were awake, anyhow.

   

So, how does one take over a corporation by force, assuming the article means physical here given the context? Other than getting the gov't involved.
https://cointelegraph.com/news/bitmain-struggle-continues-as-ousted-ceo-reportedly-halts-asic-deliveries

Recent actions in June saw Zhan gain ground in the confrontation as he resorted to force, and now appears to have gained enough control to at least partially disrupt Bitmain’s operations, which was until then working normally.

According to what I've seen, Zhan burst into the office with a couple dozen mercs, took it over, and offered bonuses to any employee that would support him. <comic sans> so drama </comic sans>

It is not like Zhan does not have a rightful claim to Bitmain's business, as far as I recall of some of the background facts.. and even chinese law likely would support him in that regard, perhaps.

[JayJuanGee]

By the way, some smart governments might end up trying to front run other governments in terms of both competing in the mining of bitcoin and the competing in the stockpiling of a financial reserve in bitcoin, and those likely behaviors do not hurt bitcoin's investment thesis, either.

I would be flabbergasted if this happened but it would definitely be  Hammer time!

Aren't governments already doing it in small ways, and frequently, governments have covert operations, too....

In other words, it seems that there are already incentive mechanisms built into bitcoin to account for this kind of behavior, but there may be some questions about comfort level for governments to consider various official government programs that might be directed towards either bitcoin mining or bitcoin stockpiling (even just small amounts in a kind of DCA way on a governmental level).

[LUCKMCFLY]

Next resistance at $ 10.5k..

Bitcoin is slowly moving higher and it is trading above the $9,800 and $9,720 support levels.
A successful daily close above the $10,000 level could spark a sharp rise in the near term.
There was a break above a key contracting triangle with resistance near $9,780 on the hourly chart of the BTC/USD pair (data feed from Kraken).
There might be a short term correction, but the bulls are likely to protect $9,800 or $9,720.

Source: https://www.newsbtc.com/2020/06/11/11200-bitcoin-supporters-aim-big-after-recent-spike-and-volatility/

[V8s Road Warrior]

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