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

[savetherainforest]

BREAKING: The last 3 days have been the largest ‘Realized Loss’ days in Bitcoin history
- Glassnode..


Link:https://twitter.com/BTC_Archive/status/1538529682626383873

But did the loss was total?? Or they are just saying that numbers on the screen go down so they assume they lost BTCiTcoin?? Cuz 1 BTCtC is still == with 1 BTCtC.            

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[BobLawblaw]

As I catch up with the WO thread, I just have to shake my head in disgust at all the pusillanimity.

You dudes need to punch yourselves in the nuts WAY more often.

[cAPSLOCK]

As I catch up with the WO thread, I just have to shake my head in disgust at all the pusillanimity.

You dudes need to punch yourselves in the nuts WAY more often.

I recommend putting a few coins on a lightning node and then throwing the SSD into a volcano.  That's what I did, and it puts things in perspective.

But I also have noticed there are a lot of "this time it's different" (in a bad way) and it might take 10 years to recover from this type stuff out there.  More than I remember in the past crashes.

That said.. I would love for my little FIB bottom prediction to have been right.  Looks pretty good so far.  The variables are just so interesting.  What is going to happen in the world markets... energy, food, real estate?  Are interest rates going to keep going up (yes)? Will Bitcoin ever begin to really step into it's safe haven role and decouple from the tech markets?  It really is hard to see what might be around the corner, obviously.  Volume impressive for a weekend.  RSI near all time low on several timeframes...
Who knows?



For me technical analysis vs fundamentals are an interesting way to view markets.  A fib extension and low RSI is compelling, but what if stonks start dumping extra hard on Monday?  Then what?  What about all the necessary liquidations of things like FTX Celsious et al.

This is happening faster than I thought it would.  I figured we would go up further before we starting seeing Bitcoin PUNISH the people who play games on paper.  It's Satoshis bit about being able to be "moved on a communications channel" playing out.  They are trying to play Fiat games with a rock hard asset.  And we all get to experience pain because of their stupid games.



This asshole is a pox on Bitcoin.  He does not understand why it is important, and has built the same sort of garbage that Armstrong and others have pushed on us. 

I hope they are crushed in this event.


***LAST EDIT***
 
Nice to see this run on 20k.  Not enough volume yet to really get excited about it, and I expect we will see the price rejected here.  But if we dont?

[ChartBuddy]

Explanation

[jojo69]

[BobLawblaw]

I recommend putting a few coins on a lightning node and then throwing the SSD into a volcano.  That's what I did, and it puts things in perspective.

Yeah bro. Was very sad to learn about that.

So, total loss for that one node confirmed, or did it end up recovering after all?

[cAPSLOCK]

I recommend putting a few coins on a lightning node and then throwing the SSD into a volcano.  That's what I did, and it puts things in perspective.

Yeah bro. Was very sad to learn about that.

So, total loss for that one node confirmed, or did it end up recovering after all?

Actually.. I am well on the way to recovering it all  (hope I did not just jinx it).  The CL node (jeed) was able to be restored from a backup created by the backup plugin right before the SSD went south.   Even our channel is back up and connected.

The LND node (deej) is still in limbo.  So I am using the seed+SCB restoration method.  What that does is scans through the whole blockchain from the birthday of the node (11/19) and that is taking forever.  But all the transactions are trickling in.  Once that is done the Static Channel Backup file is loaded and all the channels are just closed.

So the sad part is my older BOS ranked node is badly wounded.  BUT I am hopefull I will gather up all the funds on chain sometime today.

The question is... do I want to set channels back up on that thing?  Or throw the rPi into the volcano after moving all the corn back to cold storage.

For some reason (insanity?) a am considering  setting up a set of fewer but larger channels on the node and keeping it going...  

My version of titanium plates, I suppose.

[Torque]

As I catch up with the WO thread, I just have to shake my head in disgust at all the pusillanimity.

You dudes need to punch yourselves in the nuts WAY more often.

It seems like every bear market, the fear and whining and doom-and-gloom is exactly the same.

Guess I shouldn't tell them about that time I bought some bitcoin at $1000, and it fell all the way to $230.

Oh, woe is me.  

Bear trolls swarmed the WO at the bottom of the market (just like now) saying "cheap coins!" and it's "going to crash to $50" and "this time it's different tho".

Does no one study the past anymore??

Patterns of observation are your friend.  

[bitcoinPsycho]

As I catch up with the WO thread, I just have to shake my head in disgust at all the pusillanimity.

You dudes need to punch yourselves in the nuts WAY more often.

Lol its still over $500  what's all that fuss about?

[jojo69]

[ChartBuddy]

Explanation

[BitcoinBunny]

I trust a mathematically sound currency of which there are less than 21 million main units available over ones that keep getting inflated in supply.

The latter then need humans tampering with and make people poorer just because too much supply was added in a short time by those same humans.

 

[HI-TEC99]

Time to drink.

lucky you, sniffing glue is all i can afford now

[philipma1957]

As I catch up with the WO thread, I just have to shake my head in disgust at all the pusillanimity.

You dudes need to punch yourselves in the nuts WAY more often.

Well you and I both did buys under 19k

I got in three times.

19.7
18.9
17.7

I will decide next purchase soon.

What is nice is I created solid cap gain losses in eth ltc and doge three of the four coins I mine.

As I mine them the rest of the year I can sell the. and disregard any and all cap gain gains they may do.

Then load up on btc . I should  have a good amount of btc by years end.

[philipma1957]

AND andy warhol is a stupid scam?

his campbell soup series of paintings have made serious money and still do.

[ChartBuddy]

Explanation

[death_wish]

After winter always comes Spring.

but what comes after a crypto Ice Age?

Bitcoin’s energy use causes global warming.  /s (A warning only necessary because “welcome to the Internet”.)

[OutOfMemory]

As I catch up with the WO thread, I just have to shake my head in disgust at all the pusillanimity.

You dudes need to punch yourselves in the nuts WAY more often.

On the other hand, somewhere on this stupid space rock (c) family homes get shelled nonstop, people are starving or run from bullets every day, while CT is crying it's fate in mass-hysterical manner using capital letters out to the world  
It seems to me that WO is still comparatively brave, and yes, i am aware that WO is a bunch of hodlers, while CT is mainly hordes of shitcoiners leverage-longing every dip in this bear market correction, just because some follower-rich moron called it out.
If one survived 2018/19 (sorry mindrust), then 2022 should be no more than meh to him/her.
That's why i suggest four self-slaps on the back of the head, in sync to spelling "HODL"  

[Majormax]

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.

The previous cycle high was the *last* piece of TA that BTC chart had not violated previously. ... It was an almost religious symbol to some ppl.

Now that violation has happened, individuals have to make their decision... either say:

1. ' this indicates some serious imminent unknown, so BTC is broken in some way'

or  2. ' No form of TA applies anymore, so HODL as an act of pure faith'

Gold historical comparison is a helpful justification for (2), which is probably the line most WO posters would take.

[vapourminer]

The previous cycle high was the *last* piece of TA that BTC chart had not violated previously. ... It was an almost religious symbol to some ppl.

Now that violation has happened, individuals have to make their decision... either say:

1. ' this indicates some serious imminent unknown, so BTC is broken in some way'

or  2. ' No form of TA applies anymore, so HODL as an act of pure faith'

yup. glorious isnt it! 

havent felt like this since 2011 when i started

what a time to be alive