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

[somac.]

"We must prepare for the fact that it could take years. We must not let up in supporting Ukraine," the Nato chief said in an interview with German newspaper Bild.
"Even if the costs are high, not only for military support, also because of rising energy and food prices."

I don’t think costs of wrecking all relevant markets are worth propping
 up a Nazi regime

It's always worth sacrificing others, never themselves though or their families. What a shit head, I swear people dying and losing everrything turns these evil pricks on.

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[milkshock100]

"We must prepare for the fact that it could take years. We must not let up in supporting Ukraine," the Nato chief said in an interview with German newspaper Bild.
"Even if the costs are high, not only for military support, also because of rising energy and food prices."

I don’t think costs of wrecking all relevant markets are worth propping
 up a Nazi regime

It's always worth sacrificing others, never themselves though or their families. What a shit head, I swear people dying and losing everrything turns these evil pricks on.

Exactly who are we are sacrificing for?   A country that exists only due to an administrative error, and is now held to ransom by a gang of Nazis

Fuck you Stoltenberg - spend you own money on them

[death_wish]

The amount of time we are taking on these levels which are below 200 MA is what scares the shit out of me.

+1 to that. But to be fair it is a weekend. Which is why they dumped in the first place.

We were already in a channel more or less under 200 WMA, between about that and ~10% below.  IMO, it had been doing that for long enough to be teetering on borderline breakage.  I had been hoping for a scenario like August–September 2015—scraping along just below/just above for a month, then recovering.  At this point, since we crashed even below the previous cycle top (even in nominal dollars, never mind real value!), I think that 200 WMA is quite dead.  Not “Bitcoin is dead”:  Excessive reliance on a technical indicator is dead.

Gold had a two-decade extreme bear market.  Anyone who bought gold at the wrong time had to wait an awful lot longer than four years to be not underwater.  I also think that was a politically motivated economic attack, though I don’t want to get into off-topic discussion here that will derail into other matters.  (I have mentioned this in some prior post, a few weeks ago...  Something about gold-producing countries under international sanctions.)

Only fools declared gold dead.  Smart people bought gold as low as ~$260, not so very long ago.

If we can escape from erroneous thinking about Bitcoin as “like a stock”, and really start treating it as digital gold, then there is ample precedent for shrugging off much worse crashes and bear markets than I now anticipate.  As bad as this one is.  Even if we are still nowhere near the bottom—maybe; maybe not; I am realistically pessimistic, but not prepared to make a call either way.

The amount of time we are taking on these levels which are below 200 WMA is what scares the shit out of me.

Low IQ Finds TA = Astrology.

FTFY.  As an inveterate pedant, I could not resist.

[death_wish]

"We must prepare for the fact that it could take years. We must not let up in supporting Ukraine," the Nato chief said in an interview with German newspaper Bild.
"Even if the costs are high, not only for military support, also because of rising energy and food prices."

I don’t think costs of wrecking all relevant markets are worth propping
 up a Nazi regime

It's always worth sacrificing others, never themselves though or their families. What a shit head, I swear people dying and losing everrything turns these evil pricks on.

Exactly who are we are sacrificing for?   A country that exists only due to an administrative error, and is now held to ransom by a gang of Nazis

Fuck you Stoltenberg - spend you own money on them

Reading comprehension failure, milkshock.  (Not commenting on this discussion otherwise.)

[milkshock100]

"We must prepare for the fact that it could take years. We must not let up in supporting Ukraine," the Nato chief said in an interview with German newspaper Bild.
"Even if the costs are high, not only for military support, also because of rising energy and food prices."

I don’t think costs of wrecking all relevant markets are worth propping
 up a Nazi regime

It's always worth sacrificing others, never themselves though or their families. What a shit head, I swear people dying and losing everrything turns these evil pricks on.

Exactly who are we are sacrificing for?   A country that exists only due to an administrative error, and is now held to ransom by a gang of Nazis

Fuck you Stoltenberg - spend you own money on them

Reading comprehension failure, milkshock.  (Not commenting on this discussion otherwise.)

dont think ive misunderstood - i assume somac was critiscising Stoltenberg?

[somac.]

"We must prepare for the fact that it could take years. We must not let up in supporting Ukraine," the Nato chief said in an interview with German newspaper Bild.
"Even if the costs are high, not only for military support, also because of rising energy and food prices."

I don’t think costs of wrecking all relevant markets are worth propping
 up a Nazi regime

It's always worth sacrificing others, never themselves though or their families. What a shit head, I swear people dying and losing everrything turns these evil pricks on.

Exactly who are you are sacrificing for?   A country that exists only due to an administrative error, and is now held to ransom by a gang of Nazis

Fuck you - spend you own money on them

All I can say is that the Ukrainian, EU, US, and Russian people have been fucked over in a major way for the ideologies of their leaders. This whole thing could of easily been avoided but they wanted a war. They have their war now so they're happy, but not happy enough apparently, they want more people to suffer. People who just want to live their lives and get no benefit from the war what so ever. Anyway no one here likes needless war so I don't want to get diverted from the topic of BTC further.

[death_wish]

"We must prepare for the fact that it could take years. We must not let up in supporting Ukraine," the Nato chief said in an interview with German newspaper Bild.
"Even if the costs are high, not only for military support, also because of rising energy and food prices."

I don’t think costs of wrecking all relevant markets are worth propping
 up a Nazi regime

It's always worth sacrificing others, never themselves though or their families. What a shit head, I swear people dying and losing everrything turns these evil pricks on.

Exactly who are we are sacrificing for?   A country that exists only due to an administrative error, and is now held to ransom by a gang of Nazis

Fuck you Stoltenberg - spend you own money on them

Reading comprehension failure, milkshock.  (Not commenting on this discussion otherwise.)

dont think ive misunderstood - i assume somac was critiscising Stoltenberg?

My apologies.  The reading comprehension failure is mine here.

[death_wish]

Should have sold

To balance that out, I have set new personal text.  The space is too short to add appropriate qualifications, so it is not a promise or binding commitment; but it is essentially my attitude.  NOT SELLING for fiat.  Not to hold fiat.

[ChartBuddy]

Explanation

[death_wish]

When gold prices (in dollars) soared from 70s stagflation, then crashed, was it smart to sell the top?  OK, how do you know what the top is?

In gold’s extreme, extended bear market, after it started crashing, was it smart to sell at $800?  $700?  $600?  Selling for $600 and later re-buying for $300, you could have doubled your gold holding.

...$500?  $300?  $260?  Whoops!  Selling for ~$260 (IIRC^*) would have been mindrusting gold.

Holding gold is always safe, if your biggest concern is not to be stuck with less gold than you have already accumulated.

Holding BTC is always safe, if your biggest concern is not to be stuck with less BTC than you have right now.

^*  Numbers here are tossed off the top of my head to make a point.  If someone corrects any errors as Jay corrected my recollection of when Slaying the Bearwhale occurred, then... eh.  Here, at least, it will not change my point.

[somac.]

Should have sold

To balance that out, I have set new personal text.  The space is too short to add appropriate qualifications, so it is not a promise or binding commitment; but it is essentially my attitude.  NOT SELLING for fiat.  Not to hold fiat.

Hahaha, I was waiting to see how long till someone would notice that.

I'll change it back don't worry.

Also price above 19.5 we need it back above 20k still. But it's a start.

[Franctoshi]

https://cryptopotato.com/spanish-airline-giant-vueling-embraces-crypto-as-a-payment-method/
Spanish Airline Giant Vueling Embraces Crypto as a Payment Method

Bitcoin will be the favourable crypto payment method.

[death_wish]

Should have sold

To balance that out, I have set new personal text.  The space is too short to add appropriate qualifications, so it is not a promise or binding commitment; but it is essentially my attitude.  NOT SELLING for fiat.  Not to hold fiat.

Hahaha, I was waiting to see how long till someone would notice that.

I'll change it back don't worry.

Thanks.  The last time we had a major wave of LTH dumping starting a bit over $19k, the bottom wound up being $3k with a smaller total supply (albeit twice the rate of issuance).

Of course, that would be good for me.  START DUMPING, ALL YOU LTH WHO STILL HAVE YOUR COINS!  Please start dumping.  I need my own Great Reset to 2018.  Thanks.  2018 was a great year for me.  I love bear markets.

Also price above 19.5 we need it back above 20k still. But it's a start.

We’ll see.  I doubt we are anywhere close to a recovery, due to the flock of black swans which threaten to continue arriving.  But who knows.  This is Bitcoin, which turns around and rockets up or down without warning.

* death_wish considers setting his personal text to “Should have HODL(ed in my wallet, without debt).”

[somac.]

Also price above 19.5 we need it back above 20k still. But it's a start.

We’ll see.  I doubt we are anywhere close to a recovery, due to the flock of black swans which threaten to continue arriving.  But who knows.  This is Bitcoin, which turns around and rockets up or down without warning.

Absolutely, I'm not calling a bottom here but we need to go above 20k to have any hope of even a temporary bounce.

However, I do think it is possible that it does bottom, everyone, and I mean everyone believes that there are several large stupid companies out there that will 100% be liquidated very soon. While that does seem likely, these companies are opaque and we have no idea what is going on behind the scenes. They may not be as bad off as we think, or perhaps they are getting private bailouts in the background.

It’s Bitcoin right, anything can happen. And if we don’t get the promised liquidations there is going to be a lot of unhappy shorts/sellers out there who will need to adjust their strategy.

[ChartBuddy]

Explanation

[heslo]

Hit and bounced off of 20k but I'll take what we can get at the moment

[vapourminer]

Time to drink.

lucky you, sniffing glue is all i can afford now

[BitcoinBunny]

Bitcoin is the solution.

The problem is the combination of the Fed / central banks and politics.

[somac.]

Time to drink.

lucky you, sniffing glue is all i can afford now

I was sniffing gasoline for a while there but that got too expensive.

[DVlog]

When gold prices (in dollars) soared from 70s stagflation, then crashed, was it smart to sell the top?  OK, how do you know what the top is?

In gold’s extreme, extended bear market, after it started crashing, was it smart to sell at $800?  $700?  $600?  Selling for $600 and later re-buying for $300, you could have doubled your gold holding.

...$500?  $300?  $260?  Whoops!  Selling for ~$260 (IIRC^*) would have been mindrusting gold.

Holding gold is always safe, if your biggest concern is not to be stuck with less gold than you have already accumulated.

Holding BTC is always safe, if your biggest concern is not to be stuck with less BTC than you have right now.

^*  Numbers here are tossed off the top of my head to make a point.  If someone corrects any errors as Jay corrected my recollection of when Slaying the Bearwhale occurred, then... eh.  Here, at least, it will not change my point.

So you are saying investors should only accumulate gold or BTC to increase their portfolio? If you do not extract some profits from your gains and reinvest them in that same assets or something else then you are not an investor. You are more like a collector. Professional investors always circulate their money in the different asset classes. If you do not know what the bottom or upper limits are then follow the market sentiments.

If you think of yourself as an investor you must keep track of the market about what's going on. Many people think a bear market is a downside of our economy but wise investors knows this is their opportunity. You can get things with a high discount price in a bear market so buy when everyone is selling and start selling when everyone is buying. This is that simple if you do not know about price actions charts or fundamental analysis.