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

[OgNasty]

Pump +++

Bitcoin $28,724

The market got over that rate hike pretty quickly and does appear to be back into rally mode. I’m still expecting we end the month at $30K but we’re running out of time. One good push from here should do it though and with today’s price action I still think it will happen. I think at that point we might start seeing average Joe’s begin to have FOMO.

[ChartBuddy]

Explanation

[Richy_T]

The market got over that rate hike pretty quickly and does appear to be back into rally mode. I’m still expecting we end the month at $30K but we’re running out of time. One good push from here should do it though and with today’s price action I still think it will happen. I think at that point we might start seeing average Joe’s begin to have FOMO.

Gotta stash away all that funny money somewhere. The question is, is the market rallying or is it just number going up? One things for sure, those with connections will be getting out before the rest of us who will be glad we saved our ramen seasoning packets to flavor our 401k statements with.

[Lainta]

JUST IN: 🇺🇸 SEC issues statement saying companies offering crypto may not be in compliance with law and urges investors to be cautious👀



https://twitter.com/BitcoinNewsCom/status/1638928536982503426?t=dfOGmoF-uMzNT4qTy739eg&s=19

[OgNasty]

The market got over that rate hike pretty quickly and does appear to be back into rally mode. I’m still expecting we end the month at $30K but we’re running out of time. One good push from here should do it though and with today’s price action I still think it will happen. I think at that point we might start seeing average Joe’s begin to have FOMO.

Gotta stash away all that funny money somewhere. The question is, is the market rallying or is it just number going up? One things for sure, those with connections will be getting out before the rest of us who will be glad we saved our ramen seasoning packets to flavor our 401k statements with.

I think it's clear the market is still rallying.  I come to this conclusion because if you look at the action yesterday with the price, there was a ton of volume sending it downward, which the market absorbed, and then a much smaller amount of volume sent it right back up to where it was.  This shows me that there are still a lot more buyers out there than sellers, and that they're buying the dips hard.  I think the folks out there buying are getting their hands on as much as possible without sending the market above $30K.  Their time is limited though as I believe Bitcoin's days are numbered below $30K.

[ChartBuddy]

Explanation

[JayJuanGee]

Counterfeit dollars? Check.
Phony gold? You bet.
But fake bitcoins? Never. The power of bitcoin is unmatched in authenticity.

”This reminder of why bitcoin is better than gold: 10 Troy oz "gold" bar is filled with tungsten and covered in a thick layer of gold.
Gold and tungsten have very similar densities, which means this bar weighs correctly and is the same size as a genuine gold bar.”

https://www.reddit.com/r/Bitcoin/comments/11yzc76/this_reminder_of_why_bitcoin_is_better_than_gold/

A quick ultrasound test will take care of that nonsense. The Ultrasonic thickness measured will differ to Calipers measurement.
https://www.kern-sohn.com/shop/en/measuring-instruments/gold-testing/TN-GOLD/

Yeah, but really does the ability to perform more sophisticated tests, such as the one that you describe, really resolve the issue and even the seamless nature that comes from assaying (verifying the validity of) bitcoin as compared to assaying (verifying the validity of) gold?

I don't have any major problem for those who are already experts (and used to) holding gold to continue in their past practices, but they still should be attempting to get a grip upon the power of bitcoin, including that bitcoin is likely around 1,000x better than gold in all aspects, and sure there is some benefits to the physical tangibility of gold, but that physical tangibility can become a liability too, especially in an age in which there are a variety of ways in which value has been better able to be created, stored and transported in digital ways - and bitcoin serves as both a foundational paradigm shifting invention/discovery that allowed for the unharnessing a lot of the difficulties that had previously come from some of the corruption (including double spending) of previous digitalized value mechanisms.

There seems to be more and more people coming on board to the understanding that the various verification mechanisms within bitcoin are very powerful and they facilitate ways in which the verification is done in a variety of ways and does not require as much trust in the systems that have had historically been verifying gold (even if there might be some new and better gold verification techniques).

Hopefully, you got ur lil selfie some cornz montaga, in case it catches on.. .. and surely many of us longer term bitcoiners recognize that it could take one or two cycles or more to build up your bitcoin holdings, even though anyone newly coming into bitcoin can still end up profiting stupendously because it is still early days, and they likely would be better off to focus on learning about bitcoin and investing into bitcoin rather than trying to figure out how to deal with various aspects of gold holding challenges, including that it seems quite likely that bitcoin is going to continue to eat gold's lunch, just like it has been doing for the past 10 years or so.. and sure, I know it is a bit unfair that bitcoin is appreciating in price so much as compared to gold, but that's just one of the actual real world dynamics that exist when there is a new value storage system that is replacing aspects of the old system.

[ChartBuddy]

Explanation

[Richy_T]

JUST IN: 🇺🇸 SEC issues statement saying companies offering crypto may not be in compliance with law and urges investors to be cautious👀



https://twitter.com/BitcoinNewsCom/status/1638928536982503426?t=dfOGmoF-uMzNT4qTy739eg&s=19

Someone's accumulating.

[JayJuanGee]

i still hope the price will be going sideways for some more time.

Even though it is better to wish for sideways rather than down, still not a good look.

 


Sharpen up, soldiers!!!!!!!

If you are an OG.. act like one.

Don't be looking like a low coiner, no coiner or a trader who sold too many cornz, too soon... even if true.

I see what you did there  
Not that i am against a juicy bull run (or bull aera), but i like to buy low. I'd admit, i'm 10% greedy  
On the other hand, neither up nor down ever kept me from adding bitcoin to my stash. Don't you consider that as OG? a wee little bit

To me, it seems that my original attempt at a shame-laden lecture was largely "on target."

So, in essence, I am not going to show much if any mercy..^** even if your case might possibly deserve a wee tad little tiny bit, perhaps?

**Appeal to all of the authorities, or even to the CEO of bitcoin,.. .. I could care less... I am sticking to my guns on this one.

what else do you need?

A CEO who is not a degenerate shitcoiner.

Don't let the door hit your furry lettuce butt on the way out.  

Lettuce butt?

🅱️ro. I've taken a concrete jackhammer to my asshole on several occasions just to try to feel something.

You shut your moist, delicate vagina.

Lookie uie pooie.

Getting all worked up over different interpretations of reality...

Sticks and stone may break my bones, and jackhammers are not good for lettuce butts.

Be careful with some of that.




It's all fun and games until someone's eyes get poked out.. or perhaps other unintentional irreversible damages take place.


#justsaying... you will thank me later.


 

why the mini dump? we haven't even reached 29.9k

Tbf, based on volume and closing Daily lows from May last year, the previous support was around $28.5K to $30.5K, rather than some physiological $30K level. So price re-tested old support and unsurprising it has initially acted as new resistance. Also reaching this previous support level coincided with the fomc meeting, so people decided to sell just in case. Cos ya know, buy the rumour sell the news and all that.

Price so far bouncing nicely from 50 MA on 4hr, so nothing bullish really lost yet unless we see prices move back below $27K.

Looks fine to be basically. Losing $27K continuation level and a re-test of 200 WMA / $25K become more likely, but so far, this isn't the case.

I don't know what TBF is.

Regarding going up above $30k, we were just struggling with $20k and even staying above $20k a mere 11 days ago (right prior to the Fed announcement of a SVB bailout), so I have a hard time considering any retracement back to some of those lower $20k levels to be particularly bearish, especially given how fast the BTC price shot up.... and it wasn't as if a bull market had yet been confirmed, even though many folks seem to want to declare a bull market based on information that they already have, and I am too much of a scaredy cat to enter into such declarations, especially when we were struggling to stay in the upper $16ks just prior to the beginning of this calendar year.. which this first quarter has not even officially ended.. not that king daddy gives that many shits about calendar years and financial quarters and all of that potentially mumbo-jumbo clutter.

[ChartBuddy]

Explanation

[JayJuanGee]

Counterfeit dollars? Check.
Phony gold? You bet.
But fake bitcoins? Never. The power of bitcoin is unmatched in authenticity....

For sure a pretty great reminder about how gullible people can be.. and how bold others can be to engage in those kinds of "innovative" selling of items that they quite likely know are not what they are being described to be.

Nice painted fingernails Bbunny.

I always suspected.

 

No surprise there then from our copycat central bank.

Interest rate rises to 4.25% after jump in inflation
https://www.bbc.co.uk/news/live/business-65046301

Almost certain to do +0.25% in May and in June.

Summer easing is possible but not likely.

Wow.. You have a lot of faith.  

Sideways coin movement with gentle upwards trend for next 6 months is possible. Also my guess.

Sideways is also possible with dee cornz.. but corn usually doesn't like to do sideways, even though after the fact we can find periods of sideways.. it just seems a bit problematic to have expectations of such sideways... from the point of view of this here cat.

  But as JJG will say what the fuck does an old school fiat based boomer fart know.

You said it, as modified... Accordingly, I modified your statement a wee bit in order to FTFY.

But, yeah, what does an old school fiat-based boomer fart like uie-pooie actually know in reality?  Sure you have dreams, and even dreams of the past ole days.

Go on Jerome.. Tell us what you really know.  (I figured out your IRL name)

[OutOfMemory]

Whoa, how nice. Short time volatility and the first mentioning of the legendary term "for ants" since more than a couple of months.
My hope for sideways slowly vanishes, so you can get easy on that again, JJG 

I also got other real-life probs to solve at the time, speaking of zolpidem (benzodiazepine-like "sleeping aid") long term use addiction and severe side-effects regarding my mother. She got that stuff prescribed for daily use since almost 20 years now  Best of all: The doctor (heighbor)  took ten bucks for a prescription. A few days ago she threw the pills away and is going through full blown withdrawal now. Any recomendations?
I've read some studies and articles so far, she has a long way to go ahead of her. Insomnia, anxiety, depression.
Interactions between classic benzodiazepines and GABAergics are well researched, but regarding benzodiazepine-like drugs... no way.
Trial and error 

[ChartBuddy]

Explanation

[JimboToronto]

I think it's clear the market is still rallying.  I come to this conclusion because if you look at the action yesterday with the price, there was a ton of volume sending it downward, which the market absorbed, and then a much smaller amount of volume sent it right back up to where it was.  This shows me that there are still a lot more buyers out there than sellers, and that they're buying the dips hard.  I think the folks out there buying are getting their hands on as much as possible without sending the market above $30K.  Their time is limited though as I believe Bitcoin's days are numbered below $30K.

I was going to post almost the exact same thing but you beat me to it.

Take a look at Chart Buddy before and after and you'll see that all it did was flatten out the order book below $28k

[ChartBuddy]

Explanation

[Lainta]

JUST IN: By adding close to another $100 BILLION to their balance sheet, the 🇺🇸 Fed has undone 60% of the quantitative tightening they started last year in just two weeks time 🚨👀



https://twitter.com/BitcoinNewsCom/status/1639009543764996097?t=dG5ibMqUe9hwL2SWkp9nuQ&s=19

[ChartBuddy]

Explanation

[Toxic2040]

fairly decent snapshot imo
the article further covers some salient points

dyor


--------

'So Asia opens on Friday to firmer world stocks, lower yields, mix U.S. yield curves, higher global rates after the UK and Swiss hikes - but a growing sense that the world policy peak is in sight - a rising dollar, and a notably stronger yen.'

https://finance.yahoo.com/news/marketmind-japan-cpi-distraction-amid-214736589.html

[Lambie Slayer]

121 days into the new Bull Market and all is well.   


I had Chatgpt write a new Bitcoin centered constitution.



"Preamble:

We, the people of this libertarian government, recognizing the importance of individual freedom, personal responsibility, and limited government, establish this Constitution to secure our rights and promote our well-being.

Article I: Individual Rights

All individuals are free to live their lives as they see fit, so long as they do not infringe upon the equal rights of others.

The right to life, liberty, and property shall not be infringed.

All individuals have the right to pursue happiness and success through their own efforts.

No person shall be deprived of life, liberty, or property without due process of law.

Article II: Government Structure

The government shall be divided into three branches: the legislative, executive, and judicial.

The legislative branch shall be responsible for making laws.

The executive branch shall be responsible for enforcing the laws.

The judicial branch shall be responsible for interpreting the laws and settling disputes.

Article III: Monetary Policy

Bitcoin shall be the official reserve currency of the government.

The government shall not engage in fractional reserve banking.

The government shall not interfere with the free market for currency and shall not restrict the use of alternative currencies.

Article IV: Taxation and Spending

Taxes shall be levied only to fund the essential functions of government, such as defense, justice, and infrastructure.

The government shall not engage in deficit spending.

The government shall not redistribute wealth through taxation or other means.

Article V: Foreign Policy

The government shall pursue a policy of non-interventionism in foreign affairs.

The government shall engage in free trade with other nations.

The government shall maintain a strong national defense.

Article VI: Amendment Process

This Constitution may be amended by a two-thirds vote of both houses of the legislature.

Amendments must be ratified by three-fourths of the state legislatures.

Conclusion:

This Constitution is established to secure the blessings of liberty to ourselves and our posterity. We pledge to uphold the principles of individual freedom, personal responsibility, and limited government, and to protect the rights of all individuals."