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

[philipma1957]

Ok now is starting to look like bull flag on short-term time-frame, after failing ascending triangle break-out. Still expecting a fake-out to higher levels above $21.5K but this ain't no shorting range.

if that's not a good price point to short what is?
this has been one hell of a pop, I fully expect a strong pull back, maybe even retesting 15.5k.

Yeah right my guess is we do 22,222.22 before we hit your number.



edit :

What do you think JJG?

22.2k or 15.5k which comes first?

[ChartBuddy]

Explanation

[shahzadafzal]

For reference:

Baby boomers: 1946 to 1964.
Generation X: 1965 to 1980.
Millennials: 1981 to 1996.. <——— Most of us fall here, Am i right?
Gen Z - aka Zoomers - mid-to-late 1990s to early 2010s

This data is for US but I guess can be generalized for other places too.


https://twitter.com/documentingbtc/status/1615082440510373911

(Tbh, the gen z roasts are way funnier than the other reply that she really wanted... but then again, jmho and I maybe bias...)

The gen Z ones hurt more, too. Making them look really dumb and useless.

23% Gen Z adults owns bitcoin. Are we underestimating them?

[TheJuice]

I don't think people understand how bullish the crypto sphere is right now. BTC 100k and ETH 10k are incoming and people are sleeping on it. If you have dry powder on the side lines waiting to move in, now is the time. You'll be kicking yourself in 2 years if you don't move in today.

[Hueristic]

I don't think people understand how bullish the crypto sphere is right now. BTC 100k and ETH 10k are incoming and people are sleeping on it. If you have dry powder on the side lines waiting to move in, now is the time. You'll be kicking yourself in 2 years if you don't move in today.

Just a little hint but your continual mention of that scam MeTH has gotten you an ignore from me and I'm sure most of the regulars if not already are not far behind.

[Unknown Op]

 




TWITTER

[dragonvslinux]

Ok now is starting to look like bull flag on short-term time-frame, after failing ascending triangle break-out. Still expecting a fake-out to higher levels above $21.5K but this ain't no shorting range.

if that's not a good price point to short what is?
this has been one hell of a pop, I fully expect a strong pull back, maybe even retesting 15.5k.

When it breaks down from the bull flag. Not within it, unless you're scalping resistance to support that is, as it's a bullish continuation pattern until proven otherwise.

If we go back down to $15.5K, you can expect much lower than that though.

[ChartBuddy]

Explanation

[hisslyness]

For the past 3 hours, someone(s) just bought ~$4B worth of $BTC futures in market orders, and $87M short positions liquidated across all exchanges.

Again? Or is this the same as

https://bitcointalk.org/index.php?topic=178336.msg61592149#msg61592149

[TheJuice]

I don't think people understand how bullish the crypto sphere is right now. BTC 100k and ETH 10k are incoming and people are sleeping on it. If you have dry powder on the side lines waiting to move in, now is the time. You'll be kicking yourself in 2 years if you don't move in today.

Just a little hint but your continual mention of that scam MeTH has gotten you an ignore from me and I'm sure most of the regulars if not already are not far behind.

 

[ChartBuddy]

Explanation

[Hueristic]

I don't think people understand how bullish the crypto sphere is right now. BTC 100k and ETH 10k are incoming and people are sleeping on it. If you have dry powder on the side lines waiting to move in, now is the time. You'll be kicking yourself in 2 years if you don't move in today.

Just a little hint but your continual mention of that scam MeTH has gotten you an ignore from me and I'm sure most of the regulars if not already are not far behind.

 

Is this a bought account?

I've been thinking that for awhile.

[philipma1957]

I don't think people understand how bullish the crypto sphere is right now. BTC 100k and ETH 10k are incoming and people are sleeping on it. If you have dry powder on the side lines waiting to move in, now is the time. You'll be kicking yourself in 2 years if you don't move in today.

fuck eth and mr V and you for that matter.

that piece of shit is costing the entire pc industry a fucking fortune.

[ChartBuddy]

Explanation

[TrustedBitcoiner]

Ok now is starting to look like bull flag on short-term time-frame, after failing ascending triangle break-out. Still expecting a fake-out to higher levels above $21.5K but this ain't no shorting range.

if that's not a good price point to short what is?
this has been one hell of a pop, I fully expect a strong pull back, maybe even retesting 15.5k.

When it breaks down from the bull flag. Not within it, unless you're scalping resistance to support that is, as it's a bullish continuation pattern until proven otherwise.

If we go back down to $15.5K, you can expect much lower than that though.

either way if it breaks up sell because the move is way over extended, or if it breaks down short cuz its going down.
IMO most of this move is based on a short squeeze , and some mofo buying, but now the shorts are liquidated only mofo is left, and its going to be hard to mofo buy when it suddenly drops sub 20K. I guess it all depends on how much money is on the sidelines right now.

all we can do is  draw lines, watch price, and speculate

[xhomerx10]

While doing a tiny bit of wallet maintenance today I discovered something strange

 I did a little digging and some searching and I found that disgraced user naim027 had a short stint running a lending service; the repayment address was: 18HfvLNNsZdMZeXmyKg59AfG7n4d1ibKRU (as posted here)
which on 9/14/2022 @ 12:24:14 transferred a small amount of bitcoin to this address: bc1qw0qsvzuxgmyqvc6mcaqw77v3sd9jt0lppcxkn6
which on 9/23/2022 @ 24:14:25 transferred most of that amount to this adress: bc1qy4ta9wtwufm3d56tqrys3wh50q7fmd7p0g0z6n
which on 9/23/2022 @ 24:28:50 dispersed ~0.00005 BTC to each of the following users at their publicly posted addresses -

  fillippone: bc1qd7rqlrw5h4q3g2x45xacd72zshcm2dht2ztclh
  Chartbuddy: 1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
    Gachapin: 1L1KknC9sGqr6CUuZzEME3V8YPSfLqLRoM
       Ivonm: 38s6Ku7BMThahWcSQQLwnM9K1U5GWF5Rkk
  JayJuanGee: 35EVP8EePt8dyvKHaB7bXaRmKLm22YgRCA
 OutOfMemory: bc1qhy8gjn9klgmtlx08a2cpruq9dkv0tvqhv5x5lk
     OgNasty: 168WXhArv7Fasqvi2xm5MQMfLhG18jifMe
     Richy_T: 1RichyTrEwPYjZSeAYxeiFBNnKC9UjC5k
El duderino_: 19X5vZE8KGZ6YgtSkJmZEryDgX24tg6amR
   xhomerx10: 1RoMaNiAjSGeGsYJzPjsLUGogbDEsK4TZ

 I'm not sure what naim027 is up to nor would I trust any answer from him but I did not request his dust.  This dust can be used to track future transactions and potentially deanonymize you.  It's probably a good idea to freeze the UTXO associated with this tx to make sure it never gets spent.  Hopefully the rest of you either caught it already or have not yet transacted using that UTXO.

[xhomerx10]

Ok now is starting to look like bull flag on short-term time-frame, after failing ascending triangle break-out. Still expecting a fake-out to higher levels above $21.5K but this ain't no shorting range.

if that's not a good price point to short what is?
this has been one hell of a pop, I fully expect a strong pull back, maybe even retesting 15.5k.

When it breaks down from the bull flag. Not within it, unless you're scalping resistance to support that is, as it's a bullish continuation pattern until proven otherwise.

If we go back down to $15.5K, you can expect much lower than that though.

either way if it breaks up sell because the move is way over extended, or if it breaks down short cuz its going down.
IMO most of this move is based on a short squeeze , and some mofo buying, but now the shorts are liquidated only mofo is left, and its going to be hard to mofo buy when it suddenly drops sub 20K. I guess it all depends on how much money is on the sidelines right now.

all we can do is  draw lines, watch price, and speculate

 Dude, you forgot hodl.  We can also hodl or DCA and hodl or hodl and DCA and hodl some more.  So many options...

[fillippone]

 I'm not sure what naim027 is up to nor would I trust any answer from him but I did not request his dust.  This dust can be used to track future transactions and potentially deanonymize you.  It's probably a good idea to freeze the UTXO associated with this tx to make sure it never gets spent.  Hopefully the rest of you either caught it already or have not yet transacted using that UTXO.

Just why?
First of all, a dust attack is a lame way of trying to deanonymize anything.
Sending sats to a used address adds nothing to a future chain analysis.

Second: why do people on this forum now apparently only want to damage other fellow users? I though we were fam.

Anyway @xhomerx10, thanks for the heads up, I would have never noticed.

What is a dust attack?
Dust Attack, what it is, why it is dangerous and how to prevent falling to it


EDIT: Indeed I noticed it. I timely had already labelled the UTXO and frozen it as

Code:

Dust Attack 2022

.

[ChartBuddy]

Explanation

[dragonvslinux]

Ok now is starting to look like bull flag on short-term time-frame, after failing ascending triangle break-out. Still expecting a fake-out to higher levels above $21.5K but this ain't no shorting range.

if that's not a good price point to short what is?
this has been one hell of a pop, I fully expect a strong pull back, maybe even retesting 15.5k.

When it breaks down from the bull flag. Not within it, unless you're scalping resistance to support that is, as it's a bullish continuation pattern until proven otherwise.

If we go back down to $15.5K, you can expect much lower than that though.

either way if it breaks up sell because the move is way over extended, or if it breaks down short cuz its going down.

It seems like you are new here. DOWNOnly analysis or UPOnly is generally unwelcome, because it's simply not how Bitcoin works.

Let's say it breaks up and outwards of the bull trap flag, what exactly is the target to short then? +10% from previous minor consolidation as would be the conservative target? +20% from the start of the parabolic move if we consider this as the flag poll? or simply shorting new highs randomly because price will eventually correct and therefore decline, despite quite likely ending up considerable underwater in the meantime? The latter would mean you'd need a stop loss of 20% would sounds quite rich, unless you are targeting a 80% drop that is. The other options means getting stopped out / liquidated is very likely.

The point is this short-term bull flag could take prices to $23K or even $25K, even if I personally find it unlikely in the immediate term. The RSI would probably be the most overbought in history, or at least the highest level in over a decade, but this also remains totally possible given how oversold prices got in recent months (particularly last summer). I saw a recent poll from CoinTelegraph that showed 60% of participants are bearish at this price, only 40% are bullish. So if you think most are long right now then you're way off the mark, as well as the idea that there are more longs than shorts still in the market right now.

Edit: The point is short-term traders are taking profits right now (even if prices do go higher) while longer-term swing traders are speculating on a trend reversal (even if prices do go lower), this is literally why price has been consolidating sideways for the past two days - there's a balance in play. No one is really shorting is range right now, as it's a degenerative move it seems.

IMO most of this move is based on a short squeeze , and some mofo buying, but now the shorts are liquidated only mofo is left, and its going to be hard to mofo buy when it suddenly drops sub 20K. I guess it all depends on how much money is on the sidelines right now.

While I agree are that a lot of the rise was a short squeeze, this doesn't immediately mean it's a good time to open a short (even if it usually is). You only need to take one look at what happened in April 2019 as the conditions are very similar. The Daily RSI reached around 90 after a short squeeze to $5K. They what happened? Price consolidated for around 3 weeks, slightly upwards, until another short squeeze occured.

The fact that price hasn't immediately pulled back from the upside around $21K two days ago, and instead consolidated sideways, should really be ringing alarm bells for you that downside right now isn't inevitable what so ever. You do as you please, as you need, etc, but I'm just warning you why experienced traders (neither permabulls nor permabears) are currently engaging in the "wait and see" approach.