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

[ChartBuddy]

Explanation

[1653583325]

1653583325

[1653583325]

1653583325

[dragonvslinux]

Oh no time to panic sell. Or is it? Had this support zone drawn out for a long-time now, roughly $47-51K. Good volume support & where the 21 & 50 Week MAs lie:



Price remains within this support zone. Notice a pattern where price has previously found support from these long-term moving averages?

Even on the Daily chart price immediately found support the 200 Day MA around $46.2K. This is total BTFD territory imo, so that's what I've done.

Sure the bull market could be over, I won't rule that out but will continue to doubt it until I see any evidence of such an idea. A correction to support is completely normal in a bull market. But bare in mind if it were the end of UP, we'd almost certainly see a reaction rally back to $50-55K and rejection from there before further downside imo.... not a continued sell-off. On shorter time-frames, such as a the 4hr, price remains completely oversold after reaching RSI level of 16, so a short-term recovery seems imminent. Already the candle has a wick as long as it's body, so the day can easily end as a bullish candle (longer wick than body) even with some overall % downside. Also I imagine the Weekly candle could close above the 21 Week MA around $51K without much effort, now it's holding the 50 Week MA without much effort.

[NotATether]

Bought the fucking dip and purchased 100 Big Macs worth of BTC.


[img width=600]https://i.ytimg.com/vi/xMrNNflcqrs/maxresdefault.jpg[ /img]

Maybe purchase whoppers from burger king instead because you shouldn't be giving money to McDonalds

If I had more cash I'd buy the dip too, but I've got everything in BTC now

[becoin]

Sure the bull market could be over, I won't rule that out but will continue to doubt it until I see any evidence of such an idea.

Bull market is not over because FED, ECB, BOE, SNB and the likes print billions of fiat tokens out of thin air every single day! They can't stop doing that. This is why bitcoin will continue to appreciate until final collapse of the CB fiat system.

[ChartBuddy]

Explanation

[suchmoon]

I woke up to my GPUs making 10% more bitcoins than they usually do. Can't be bothered to check why but perhaps shitcoiners are panicking too and paying massive fees to move their defilth around. Good times.

[naim027]

Just Bought Another Few satoshis  . Buy As much as you can afford.

Here we go BTC. We should break $53K. $50K would be great. After that, we could come back stronger 💪.

Yeah. I expected to break $53K Support. but didn't expect that floor craking candle.

I woke up to my GPUs making 10% more bitcoins than they usually do. Can't be bothered to check why but perhaps shitcoiners are panicking too and paying massive fees to move their defilth around. Good times.

WOW. Is your GPUs Mining Bitcoin? How? Which Model?

I assume you are mining ETH on Nicehash?

[sirazimuth]

I woke up to my GPUs making 10% more shitcoins (that are converted to bitcoins) than they usually do. Can't be bothered to check why but perhaps shitcoiners are panicking too and paying massive fees to move their defilth around. Good times.

FTFY *







*(and shortly anon, jay will be administering my batslap, no doubt)

[gembitz]

https://twitter.com/CryptoCobain/status/1467099940572782592

webinscam

29k supp0rt is strungbwaahahaha

[philipma1957]

I woke up to my GPUs making 10% more bitcoins than they usually do. Can't be bothered to check why but perhaps shitcoiners are panicking too and paying massive fees to move their defilth around. Good times.

Whaling and also smoking.

I love to convert my ETH to BTC and cash 2x a week it be sweet.

[sirazimuth]

....

WOW. Is your GPUs Mining Bitcoin? How? Which Model?

I assume you are mining ETH on Nicehash?

It's really not rocket science.

idk, maybe it is for folks who..... ahhhh nevermind....  just use that google thingy, it knows everything....

[fr4nkthetank]

Just a nice shakeout before the pump 
No one said hodling to ATH was easy

[gembitz]

Sure the bull market could be over, I won't rule that out but will continue to doubt it until I see any evidence of such an idea.

Bull market is not over because FED, ECB, BOE, SNB and the likes print billions of fiat tokens out of thin air every single day! They can't stop doing that. This is why bitcoin will continue to appreciate until final collapse of the CB fiat system.

or imagine when bitcron capsized when the planned grid down happens you rookie  ;-D lmao weeee

[gembitz]

Just a nice shakeout before the pump 
No one said hodling to ATH was easy

spending is key if you dont spend your crons you forked ;-D go bitcoin go bitcoin

[gallianooo]

We should to admit that it's was really weak : impossible for BTC to make really new high. No volume. And Bears are in control since a while.

I didn't expect this big drop till 42K very fast (and i think no one expected this level). The fact is, since march 2021, we cannot go really higher (ok some new ATHs, but only fake break out everytime, since).

We are in a fucking big range between 30-60K since almost a year. So most probably and unfortunately it will take more time than expected to see the top of this run, and we will maybe need to admit in a near future than the cycles can be different.

BTW, i'm still thinking we still haven't see the TOP, but next weeks/month will be probably (again) boring.

HODL.

[ChartBuddy]

Explanation

[proudhon]

Between now and 1 year from now bitcoin will spend more time below $40k than above it. Write it down.

[philipma1957]

Between now and 1 year from now bitcoin will spend more time below $40k than above it. Write it down.

Nice safe pick.  Could be true.

[AlcoHoDL]

Between now and 1 year from now bitcoin will spend more time below $40k than above it. Write it down.

Nice safe pick.  Could be true.

Gives us moar time to accumulate fiat for some nice BTFDippenings before the new ATH and beyond.

[BitcoinBunny]

Already going up again.

Turned my 100 Big Macs money into 102 Big Macs within a few hours.
That's better than losing 15 Big Macs per year if I'd kept the money in the bank.