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

[Copetech]

Wait for it, we're gonna bounce any minute now. It's gonna be strong. A real trend reversal. Bullish phase incoming.

OK, now I'm getting scared.
For the first time in many many months price goes below my DCA and the local Llama spots out this???
Is this what they were talking about as "Max Pain?"

[suchmoon]

Happy MSTR cost basis day! Is Micky S going to (a) average down, or (b) cut his losses?

In other news, who could have possibly known that fake money and shitcoining could lead to trouble:

TerraUSD (UST) has lost its dollar peg for the second time in three days, falling to as low as $0.95 on Monday, according to the most recent price estimates from CoinMarketCap.

[...]

The algorithmic stablecoin works together with its sister token, LUNA, to maintain a price of $1 using a set of on-chain mint and burn mechanics. In theory, these mechanics ensure traders can always swap $1 worth of UST for $1 worth of Luna, which has a floating price.

[...]

A few minutes later, Do Kwon, the outspoken CEO of Terra creators, Terraform Labs, tweeted, "Deploying more capital - steady lads."

[OutOfMemory]

Wait for it, we're gonna bounce any minute now. It's gonna be strong. A real trend reversal. Bullish phase incoming.

OK, now I'm getting scared.
For the first time in many many months price goes below my DCA and the local Llama spots out this???
Is this what they were talking about as "Max Pain?"

I see a lot of sell orders disappear in the order books.
Time to take a breath.

[empowering]

[shahzadafzal]

34,720 BTC have now left Luna Foundation Guard's holdings in the last 24 hours.

This is a notional value of $1.04B


https://twitter.com/wclementeiii/status/1523744692697178112?s=21

[empowering]

Drainnnnnnnnnnnnnnnnnnnaggggge !!!!!!!!!!!!!!!

[rdluffy]

I don't know, looks like we could see a rally from here. Could easily get a pump to $60-70k.

Wow, I need to quote you and save as NFT to sell for millions

But now I'm very worried that BTC will go down to zero in some days and the party will end, I never see you positive

[ChartBuddy]

Explanation

[danadc]

Hey guys,

I do not know how likely the cycles, the patterns are repeated because the circumstances in 2017,2018 and 2019 are very different from now, however Glassnode shows:

"It should be noted that both instances were prior to the final capitulation flush out event. As such, further downside remains a risk, and would be within the realm of historical cycle performance."

and Peter Bradnt:



Glassnode said:

 

“Bitcoin remains highly correlated to the broader economic conditions, which suggests the road ahead may unfortunately be a rocky one, at least for the time being.”
The overall cryptocurrency market cap now stands at $1.467 trillion and Bitcoin’s dominance rate is 41.7%.

Source: https://cointelegraph.com/news/bitcoin-price-falls-to-31k-as-traders-prepare-for-a-rocky-road-and-more-downside

From another point of view I also found:

According to data provided by Coinglass, more than $700 million worth of crypto has been liquidated within 24 hours.

The “fear and greed” index, which gets updated daily, is currently flashing extreme fear with 11 points.

Source: https://u.today/bitcoin-collapses-to-30000-amid-relentless-sell-off

The liquidations as well as the things that have been presented as a correction, I think I sign up that this will be the impulse so that I can take off a good schedule in a short time, do you think many have already had a good buy in this Dip? If so, my congratulations to those smart investors.

[fillippone]

Bought some back in the $33,xxx range. Almost a 50% discount from where I sold a certain amount. Thanks for the cheap coins, paper hands.

Well done.
You had the plan and the nerves balls to execute it!

[empowering]

and Peter Bradnt:

Love the way that Peter has to point out that it does not make him a hater, because he knows the level of retarded backward dipshit crazy that he encounters for even daring to suggest that price can and does move both ways lmao


HATER !!!!

[shahzadafzal]

This guy is an inspiration, his tweet got 36.8k likes within an hour.


https://twitter.com/nayibbukele/status/1523742670044413954?s=21&t=dl6Gs7SRUyvV3fkC22u3ng

[vapourminer]

I don't know, looks like we could see a rally from here. Could easily get a pump to $60-70k.

oh man we are gonna get boned so hard...

[LFC_Bitcoin]

Wait for it, we're gonna bounce any minute now. It's gonna be strong. A real trend reversal. Bullish phase incoming.

What the hell is going on…….

[Paashaas]

Happy MSTR cost basis day! Is Micky S going to (a) average down, or (b) cut his losses?

If Bitcoin reach 200MA then margin call for MSTR.

[JayJuanGee]

Who's our next Mindrust?

Lets hope it's JJG.    

Seems like a stretch to be considering matters in that direction.. .

like your little fantasy that shows that you are allowing your emotions to get in the way of actual thinking (if you are actually capable of such)..

Poor lil ting-a-lee.

 

Current Price : $34633

Fear and Greed Index : Extreme Fear



But those who know about the reality don't fear much as best time to invest is when there is blood on roads



I would say our WO gang should invest some amounts in it to show some support to keep up some resistance levels even if you could put $10 just go on and show some support guys....

That's a fair quote from Saylor.

My restructuring and rebalancing of my buy orders in the past several days.. did actually result in a decent amount of extra cash thrown in at various price points.. so I feel that I am doing my own part - but not really because I feel sorry for anyone, or feel sorry for the BTC price, but in the end, I feel that I am acting in my own interest to put some more dollars into BTC - even though it does cause me some potentially to suffer some cashflow short falls down the road, too.

Some of my extra contributions have already triggered, and do add up to more than $10 too... for sure a conscious effort to add fiat to the mix.

By the way, I recall at some point in mid-2019, the BTC price had dipped down from $13,880 and was lingering in the lower $10k price arena for a decent amount of time, and I recall consciously deciding to add some additional fiat value to buy more BTC in the lower $10ks, and then the BTC price dropped, and it took quite a long time for that BTC to get into the green (or black) again. 

It seems to me that since about somewhere in 2016 (maybe even 2015 - I know it is a matter of degree, but still), I have not been very frequent in my actually adding any additional fiat towards my largely self-maintaining system of remaining mostly over-allocated into BTC (which persists to this day.. whatever that means... hahahahaha).

[ChartBuddy]

Explanation

[Torque]

Sorry but I couldn't resist... this one is for you JJG  

[JayJuanGee]

Time for HODL again, yesterday's fall sent BTC under many trendlines, many experts said.

Luckily, we know about HODL.  

Make sure, you won't sell because trading is very risky.
Only HODL!!
Prices can go up any time again and you don't want to be out of BTC when prices go up fast again.  

Huh?


Are you new here?

You only engage in "Only HODL!!" when you run out of fiat.  You should practice ur lil selfie to never run out of fiat when the BTC price is going down.

Furthermore, you should never fun out of BTC when the BTC price is going up.

HODL is ONLY part of the package - but it frequently is a practice that comes into play when you may well be in a place where you had been fucking around too much with trying to time the market which caused you to run out of fiat...

Another thing that newbies should be attempting to get into their pre-disposed nocoiner heads is that if you do not have BTC or you have relatively small amounts of BTC or maybe if you have not consciously put ur lil selfie into a kind of BTC over accumulation status, then you better fucking get started dollar cost average buying of BTC on a regular basis... and part of the definition of DCA is that you better not be running out of fiat to buy BTC on a regular basis.. I have frequently recommended at least weekly.. but of course, there is going to be personal discretion and variance regarding the frequency based on cashflow considerations...

Anyhow, in support of the DCA philosophy to get yourself building your BTC stash, there are surely some needs to attempt to manage cashflow and maybe even sometimes to go out there and earn some fiat in order to be able to buy BTC with it (in the event that you cannot get paid in BTC - and of course, you do not need to get paid in BTC in order to be able reasonably and recommendedly be regularly and ongoingly buying BTC until you get to a state of overaccumulation - which can surely take years, and years, and years to accomplish..

In other words, don't be resting on your laurels merely because you made one $100 purchase of bitcoin and claim to have transitioned from a no coiner to a coiner.. because you would just be foolening ur lil selfie if you are not attempting to be a wee bit moar persistent and assertive in terms of what should be your ongoing BTC accumulation strategy, plan and practice.

[OROBTC]

This guy is an inspiration, his tweet got 36.8k likes within an hour.


https://twitter.com/nayibbukele/status/1523742670044413954?s=21&t=dl6Gs7SRUyvV3fkC22u3ng

Yah, well, I just bought some today as well, I missed the local low of $30,500 though.  But, my short-term speculation record is usually pretty bad.  Almost as bad as proudhon's?   

More on El Salvador's purchase:

https://bitcoinmagazine.com/markets/el-salvador-buys-the-wild-bitcoin-dip-with-500-btc-purchase