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

[HI-TEC99]

Ain’t it strange that the price is not falling despite the Genesis news?

Maybe this has something to do with it.

https://www.bbc.com/news/technology-64338010

Bankrupt crypto exchange FTX's new chief executive, John Ray, is looking into the possibility of reviving the platform.

He told the Wall Street Journal (WSJ) that he has set up a taskforce to explore restarting FTX.com to "recover more value" for people who lost money.

Mr Ray is exploring the idea of resurrecting the platform instead of simply liquidating assets or selling the platform, according to the WSJ report.

https://finance.yahoo.com/news/lithosphere-litho-blockchain-developer-plans-060000354.html

Seattle, Washington--(Newsfile Corp. - January 19, 2023) - Lithosphere blockchain core developer KaJ Labs is willing to help Digital Currency Group (DCG) with its insolvency issues by extending a credit facility of $830 million.

The food can become shit but shit can't become food.

I beg to differ.

Have you tried eating at McDonald's?

[dragonvslinux]

Are we Bulls again?

Short-term I'm not convinced this bounce will create a new high. Closing the day above $21.3K could change my mind though, as this would be above the previous highest close of November. Likewise closing the week above $20.9K would also achieve this same affect as this was previous highest weekly close. At least now after some consolidation there's room for the Daily RSI to return to 90 in the $22K-$23K range it seems.

For the immediate term I'm back to being neutral while price consolidates between $20.5K and $21.5K. I think that's the sensible/conservative approach for the moment. Still only looking for a(nother) short-term short position though while price remains overbought, but clearly not while price is moving back to the upside. Correction to around $19.5K before further upside would be healthiest scenario imo.

[OgNasty]

Ain’t it strange that the price is not falling despite the Genesis news?

Not really...  The problem is that Genesis doesn't have the BTC to meet their deposit obligations.  That means they need more BTC and don't have enough.  I don't think this will result in a large amount of BTC hitting the market.  Actually, it will probably result in more BTC being taken off the market as those who depended on Genesis to hold their customer deposits will now have to go purchase BTC on the open market to meet their obligations with their depositors.  It's like a game of musical chairs and you don't want to be the guy left with no BTC when the music stops.  A lot of entities that relied on income from Genesis for their operations are now left scrambling to make their customers whole, which means there will be more failures without the price dropping.

The real question is, do you own any BTC or do you think you do?

[ChartBuddy]

Explanation

[jojo69]

Car drove into barricade outside Bankman-Fried's home, lawyers say

lawyers for the 30-year-old onetime billionaire said three men got out of the car and told a security officer guarding the Palo Alto home, "You won't be able to keep us out."

[ChartBuddy]

Explanation

[vroom]

context:

[bitcoinPsycho]

UP IT TEE

[jojo69]

[Copetech]

Are we Bulls again?

Short-term I'm not convinced this bounce will create a new high. Closing the day above $21.3K could change my mind though, as this would be above the previous highest close of November. Likewise closing the week above $20.9K would also achieve this same affect as this was previous highest weekly close. At least now after some consolidation there's room for the Daily RSI to return to 90 in the $22K-$23K range it seems.

For the immediate term I'm back to being neutral while price consolidates between $20.5K and $21.5K. I think that's the sensible/conservative approach for the moment. Still only looking for a(nother) short-term short position though while price remains overbought, but clearly not while price is moving back to the upside. Correction to around $19.5K before further upside would be healthiest scenario imo.

So... I'm guessing converting $22k resistance into support and closing around $22.3k would also be an "optimistic" sign in your view?

[shahzadafzal]

$22k done.

What’s next?

[vroom]

$22k done.

What’s next?

$23k?

https://www.wikihow.com/Count-to-One-Hundred

 

[dragonvslinux]

Are we Bulls again?

Short-term I'm not convinced this bounce will create a new high. Closing the day above $21.3K could change my mind though, as this would be above the previous highest close of November. Likewise closing the week above $20.9K would also achieve this same affect as this was previous highest weekly close. At least now after some consolidation there's room for the Daily RSI to return to 90 in the $22K-$23K range it seems.

For the immediate term I'm back to being neutral while price consolidates between $20.5K and $21.5K. I think that's the sensible/conservative approach for the moment. Still only looking for a(nother) short-term short position though while price remains overbought, but clearly not while price is moving back to the upside. Correction to around $19.5K before further upside would be healthiest scenario imo.

So... I'm guessing converting $22k resistance into support and closing around $22.3k would also be an "optimistic" sign in your view?

Personally I don't see $22K as resistance, maybe more like $22.8K which was the September high, but not convinced that would hold back price either. I only really see 90 RSI as "temporary" resistance level for overbought levels for now, but currently we're at 85 so have further to go than expected. Everything above $21.5K looks bullish to me for now, as this would create new high closes on Daily/Weekly time-frames.

[LFC_Bitcoin]

@MoheganBTC

BTC $22K


https://twitter.com/moheganbtc/status/1616535644834070549

[sirazimuth]

$22k done.

What’s next?

$23k?

.....

Well for me personally, empty the dishwasher and scoop out the cat shitter box...oh joy.

[ChartBuddy]

Explanation

[shahzadafzal]

$22k done.

What’s next?

$23k?
.....

Well for me personally, empty the dishwasher and scoop out the cat shitter box...oh joy.

Oh boy so I’m not alone… kill me…!!!

But how long have we waited for this? Since August 2022 almost 154 days?

[sirazimuth]

[philipma1957]

some rather be lucky than good.


If he is really lucky we go over 25k before  it clears tomorrow .

it is freshly mined so it need a lot of confirms to be liquid

https://www.blockchain.com/explorer/addresses/btc/1CEmkQkgiCMx6DHSDkHi53mL8oEthCZSw

[shahzadafzal]

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

Are you satisfied philipma1957?