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

[Wekkel]

I sense a storm coming our way, moving from north to south.
Should we name it ?

Call it "Independence day weekend 2013" and never look back

Edit:

The last capitulation drop.

But for that we need to recover soon.

[1714235328]

1714235328

[1714235328]

1714235328

[1714235328]

1714235328

[Vectra]

I sense a storm coming our way, moving from north to south.
Should we name it ?

Call it "Independence day weekend 2013" and never look back

Edit:

The last capitulation drop.

But for that we need to recover soon.

wasn't this silkroad capture drop?

[Vectra]

Observing $10,116.

There’s a real battle at $10,000 atm.

We dipped below $10,000 but bounced back, it seems to be acting as good support atm. Be interesting to see what happens from here. Something has to give soon.....

I hope for a bounce here to some 11k, but it doesn't look like 10k will hold after that. This is not simple ABC correction, it went too far after retrace to 12k. So it's probably only the first wave of retrace. Bounce to 11k would form a new head and shoulders with target somewhere 7-8, depends where the neckline would get broken.

Bulls lost the power here.

[PoolMinor]

The last capitulation drop.

But for that we need to recover soon.

The comparison was more about the holiday weekend dip rather than the chart.

[jojo69]

[d_eddie]

Managed to buy a little more physical quite a bit under 10k. Feeling good. #stackingsats

[machasm]

Gotta say I thought that 10k was well and truly behind us when we were sitting at over 12K, with the halving In our rear view mirror and all the bullish sentiment only just a month ago.
I know we are all good here on WO but man this is a real gut punch.
I guess the honey badger didn't get the memo that we are (soon to be were if this goes on much longer) in a bull market.

[LFC_Bitcoin]

Gotta say I thought that 10k was well and truly behind us when we were sitting at over 12K, with the halving In our rear view mirror and all the bullish sentiment only just a month ago.
I know we are all good here on WO but man this is a real gut punch.
I guess the honey badger didn't get the memo that we are (soon to be were if this goes on much longer) in a bull market.

Not gonna lie, this sucks!

[bitcoinPsycho]

Buy buy buy bye bye bye bi bi bi the dip

[_javi_]

They said round numbers were hard to break (10k...psychological resistance).. but it seems they are like butter to the downside..

Go BTC... go up!!

[JayJuanGee]

You don't like or appreciate what seems to be an ongoing purging of the snot-nosed 14-year olds out of various shitcoins, defi and yield farming.. gotta be related to our current BTC price performance, no, and seems kind of healthy to purge some of that crappola, no?...

Sure, I don't like BTC prices going down, either, but sometimes it is not easy to have a short-term bitcoin bullrun (like that in early 2019) in which ethereum and other shitcoins lagged behind while bitcoin did a 3.5x in about three months... those were the days, and those are rare opportunities and lovely to witness, but seemed hard to accomplish within a kind of bullshit defi, yield-farming phenomenon that had been taking place in recent times..

What the hell do I know regarding what is sustainable, though?

[LFC_Bitcoin]

Surely if all that Defi crap is falling to pieces the money would go into bitcoin (if investors are crypto literate people).

Why on earth are people selling the king?

[proudhon]

Looks to me like the $1,000/btc and below price levels need more testing. I'm just telling ya'll the truth. I could see maybe bitcoin long term stable in the $200-$500 range after a lot of faffing about.

[mike4001_]

Well I have written several times that anything above 10k is not sustainable. I know that I will get Negative reactions again but I will probably still be writing this the next few years.

[proudhon]

Well I have written several times that anything above 10k is not sustainable. I know that I will get Negative reactions again but I will probably still be writing this the next few years.

Glad somebody else see the obvious writing on the wall.

[OutOfMemory]

Protip:  I heard that raw milk is better for you anyhow, so skip the pasteurizing and just stick with raw dogging your milk.  You will thank me later, you dog. 

I only go as high as 155° Fahrenheit, which leaves good amounts of "good" bacteria and kills most of the "bad" bacteria.
Same advantages but safer for the kids. One of my kids suffered from bad Neurodermatitis, which completely vanished with the help of the mildly pasteurized raw milk.
Plus, it lives longer in the fridge than unpasteurized milk.

But what i really went online for is this article i was recommended in a suggested tweet:

https://www.btctimes.com/news/kazakhstan-to-make-a-700-million-bet-on-mining

[Vectra]

Gotta say I thought that 10k was well and truly behind us when we were sitting at over 12K, with the halving In our rear view mirror and all the bullish sentiment only just a month ago.
I know we are all good here on WO but man this is a real gut punch.
I guess the honey badger didn't get the memo that we are (soon to be were if this goes on much longer) in a bull market.

10.5k was inevitable to retest, but I thought we might defend it though and do one more wave up to 13-15k. Imo, this makes an end of this particular wave up and we're up for deeper retrace. Stocks might help in that too.

[bitcoinPsycho]

Up 3% over the last 90 days ...steady growth lol

[nutildah]

Surely if all that Defi crap is falling to pieces the money would go into bitcoin (if investors are crypto literate people).

Why on earth are people selling the king?

The weight of the DeFi implosion is carrying over to BTC as a lot of Johnny Come Lately yield farmers are hanging up their lightly worn crypto hats for good.

For once the tail is wagging the dog.

On the plus side Sushi Swap is down to #99 in the top 100. Once LINK falls back to where it was in the 20s or 30s then we'll know the DeFi diarrhea storm has finally passed.

[JayJuanGee]

Surely if all that Defi crap is falling to pieces the money would go into bitcoin (if investors are crypto literate people).

Why on earth are people selling the king?

I agree with your overall idea that quite a bit of that divested defi capital would have decent chances to flow into BTC, but I doubt that there are too many circumstances in which we are going to get direct trade-offs like that in terms of being able to directly see the money flowing straight into bitcoin.. even though that is likely where a decent amount of it will end up going.

We also have liquidation confusion, too, in which all assets crash simultaneously, which would include bitcoin, too.. We have seen those short-term correlations on a number of occasions in bitcoin, and of course, us longer term BTC holders advantage by the bunch of dumb fucks in the market who don't really know where to put their value, they are deluded into thinking that bitcoin is the same as the other crap that they were buying, and it takes them a while to actually recognize the value proposition for bitcoin, even very smart people suffer from these kinds of asymmetry of information problems.

Even we had a difficult time realizing how much a variety of shitcoins (including but not limited to ethereum) had devalued against bitcoin in the past 3 years because many charts show 2 years or 5 years and sometimes we miss the chart that shows where that shitcoin ethereum was really at, and for some reason we start to wrongly conclude that it is appreciating in value as compared with BTC, when it had actually gone down 90% in comparison to BTC, so it's relative performance to BTC had looked better than it actually deserved on those shorter time horizons.   Normies get confused about that kind of nonsense, so it takes them a while to actually recognize that they had failed/refused (or were mislead) in their understanding of bitcoin.

We are not over the nonsense, yet, and of course, if there is some momentum, then of course, whales like to take advantage of momentum.  Don't be surprised if we do not get some spectacular and perhaps convincing FUD spreading announcement in the coming days.. but in the end, we just should be appreciating (to the extent that we can) that we are in a better position in terms of our information about bitcoin, and we can either buy some more lil fiends (aka king daddies) or just HODL through the craziness that remains part of this space - surely being able to recognize some of the ongoing nonsensical claims that we are likely to be seeing around much of this.