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

[somac.]

Let's make it clear. $BTC broke out of the long-term bear market. Going sideways for 3 months now. Market tops are violent and don't take 3 months to form. Make what you want out of this


https://twitter.com/crypto_birb/status/1280569396612739073?s=21

Looking at that twitter thread, I can see the shitcoiners are out in force again. I love how they always think that their shitty insecure coins that nobody uses for anything except as an alternative to penny dreadful stocks are somehow going to dethrone Bitcoin. Beyond delusion.

[Cryptotourist]

~ If this continues we will be looking at a fullblown Altcoins Season ~

Yeah, maybe sometime next summer, right before BTC sucks the living corn out of them - and reaches new ATH's towards the end of that year.

[soullyG]

[AlcoHoDL]

Nice pumping action...  

Edit: soullyG got me by 1 second!

[ivomm]

[machasm]

Finally, a nice big green dildo.
Been looking forward to it 😃
#NoHomo

[cAPSLOCK]

Halvenings are not what they used to be.

We're on the launch pad for a large move upwards. So, so close.....

Tee hee.

[cAPSLOCK]

With volume so far, too.

If this is not a bull trap, I think it's fairly significant.

[JayJuanGee]

Altcoins Marketcap Dominance is rising fast  


Source : tradingview.com
 
Bitcoin Marketcap Dominance : 62,8% (yesterday 63,5%)

If this continues we will be looking at a fullblown Altcoins Season and perhaps at the same time a further sideways moving of the Bitcoin price
(as more and more investors diversify into Altcoins).

I doubt that very many members, who are active in this particular thread, give too many fucks about either the direction of the misleading bitcoin dominance indicator or even that a shitcoin season might end up happening again.....

Sure some of us might become a bit distracted by that misleading bitcoin dominance indicator/shitcoin pumpening season nonsense, and I see little reason to spend much if any time on such a distracting and difficult to figure out fluff topic, including either devolving into questioning which coin might happen to be king daddy (the dog or the tail) or distracted into get-rich-quick fantasies that may or may not materialize through trying to guess which of the less shitty of the shitty-ass coins is the least less shitty and has the greatest of the various other indicator pumpamentals (and possibilities to not get caught holding the bag).... surely not fundamentals in any of the shitcoins like exist with our beloved king daddy dog (not king daddy tail)

In other words, fuck that shit.  

With volume so far, too.

If this is not a bull trap, I think it's fairly significant.

Why would lines on a screen matter?

 

[Phil_S]

yeah well I remember $1000 pumps.

[JimboToronto]

Good morning Bitcoinland.

Creeping up again to the mid-$9xxx range... currently $9429USD/$12775CAD (Bitcoinaverage).

Summer doldrums roll along. At least we're not dropping.

Go Bitcoin go.

[cAPSLOCK]

I find it weird/interesting that the current alt-boom that it seems to be the shittiest of shit-coins that are really headed north.  It looks to me currently that the more "blue-chip" sort of alts (I know some of you are bleeding from the eyes now) are not enjoying the gains that more ridiculous alts are.

I am not anti alt boom, nor do I think dominance is a very meaningful metric.  I also think some alts are going to rise with Bitcoin in this cycles bull market similar to last time.

I also think in the end bitcoin devours just about all but possibly a few of the alt-coins, and maybe even those...

But I do not think we are done with people speculating on the other blockchains.  Especially since we will have people who are 100% brand new starting to flood in.

All the "Bitcoin already is too expensive", "Bitcoin doesn't have these features", "Bitcoin is old tech", "This is the new bitcoin" arguments are going to work on the new crop of people just that they did on the previous generations, including many of us.

I don't want to get shunned out of this thread, but "alt-season" really is not a bad thing for Bitcoin.  Neither will be the eventual "altpocalypse".

[Hueristic]

Been a bit busy in last days and not up to date. Any more info who got paid BTC 5000 ?
https://decrypt.co/34047/the-most-secretive-bitcoin-wallet-just-moved-nearly-1-billion
https://www.blockchain.com/btc/address/3KZ526NxCVXbKwwP66RgM3pte6zW4gY1tD?page=1

Bitstamp
https://www.ibtimes.com/bitstamp-bitcoin-wallet-moved-1-billion-btc-only-paid-048-fees-3003501

the transaction showed the cost-efficiency in moving large amounts of money when it was transferred with just a $0.48 transaction fee. According to The Fee Calculator, sending that amount via PayPal will net a charge worth $27 million.

[JayJuanGee]

"alt-season" really is not a bad thing for Bitcoin.  

I pretty much agree with everything you said in that above-linked post, cAPSLOCK, but why you need to throw in this above stupid-ass line that is making a positive value judgement upon shitcoins rather than either staying descriptive or bashing upon shitcoins which would be a seemingly more proper etiquette in regards to addressing what is likely to be a nearly inevitable shitcoin pumpening phenomenon - largely based on the reasons that you had already outlined in that post?  

There seem to be ways to make those same kinds of statements regarding shitcoins in a descriptive way rather than seeming to wanna suck the shitcoin dick way (if there is any such meaningful dick there.. you may need a magnifying glass for your dick suckening efforts.. or perhaps (not speaking from experience) just pucker your lips really tightly?).. #nohomo  

[dragonvslinux]

With volume so far, too.

If this is not a bull trap, I think it's fairly significant.

Likewise. The VPVR POC is now around $9,450 (on Bitstamp) where price is, as opposed to approximately $9,500 where it was only yesterday, so we are still at some notable resistance. Coinbase's VPVR is now around $9,300, that changed as of yesterday too it seems, being back above this level has suddenly become significant it seems.
I'd assume a 4hr close confirms breaking the resistance trend-line, more relevantly a Daily close above $9,376 would be back above the 50 Day MA too 

[JayJuanGee]

With volume so far, too.

If this is not a bull trap, I think it's fairly significant.

Likewise. The VPVR POC is now around $9,450 (on Bitstamp) where price is, as opposed to approximately $9,500 where it was only yesterday, so we are still at some notable resistance. Coinbase's VPVR is now around $9,300, that changed as of yesterday too it seems, being back above this level has suddenly become significant it seems.
I'd assume a 4hr close confirms breaking the resistance trend-line, more relevantly a Daily close above $9,376 would be back above the 50 Day MA too 

what is VPVR?

POC?

[JL0]

With volume so far, too.

If this is not a bull trap, I think it's fairly significant.

Likewise. The VPVR POC is now around $9,450 (on Bitstamp) where price is, as opposed to approximately $9,500 where it was only yesterday, so we are still at some notable resistance. Coinbase's VPVR is now around $9,300, that changed as of yesterday too it seems, being back above this level has suddenly become significant it seems.
I'd assume a 4hr close confirms breaking the resistance trend-line, more relevantly a Daily close above $9,376 would be back above the 50 Day MA too  

what is VPVR?

POC?

VPVR = Volume Profile Visible Range

"Volume Profile Visible Range. ... It displays trading activity over a specified period and plots a histogram on the chart which reveals dominant and significant price levels based on volume and in essence gives a clear indication of Supply or demand at a certain price rather than volume in a certain period"

POC = Point of Control

You can use both of them in Tradingview

[cAPSLOCK]

"alt-season" really is not a bad thing for Bitcoin.  

I pretty much agree with everything you said in that above-linked post, cAPSLOCK, but why you need to throw in this above stupid-ass line that is making a positive value judgement upon shitcoins rather than either staying descriptive or bashing upon shitcoins which would be a seemingly more proper etiquette in regards to addressing what is likely to be a nearly inevitable shitcoin pumpening phenomenon - largely based on the reasons that you had already outlined in that post?  

There seem to be ways to make those same kinds of statements regarding shitcoins in a descriptive way rather than seeming to wanna suck the shitcoin dick way (if there is any such meaningful dick there.. you may need a magnifying glass for your dick suckening efforts.. or perhaps (not speaking from experience) just pucker your lips really tightly?).. #nohomo  

I guess my basic thought there is Honey Badger does not care.  He can go into the house of bees and won't even notice if he's stung.

Some people actually believe some alts have value.  A small percentage of those actually have a good argument.  Most of the others are "blockchain: the tech behind bitcoin" DeFi type lemmings *cough* Laura Shin *cough*.

And SOME people will simply take advantage of an alt boom to harvest more BTC from fools.

it is what it is.. I do not make much value judgments here.  I do not know the future, but have placed my bets according to my own thoughts and values.

[LFC_Bitcoin]

And SOME people will simply take advantage of an alt boom to harvest more BTC from fools.

This

[cAPSLOCK]

Here is another way to say something I have been trying to say...

When you look at goofy coins like DOGE and XRP and see that they have multiple steps up preceding this move by BTC, it makes me think that the chances of the below turning into a "Bart" are lower than usual.



If i start saying "Alts are the lungs of Bitcoin" I give you all permissions to light me on fire.