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

[ChartBuddy]

Explanation

[1686073253]

1686073253

[1686073253]

1686073253

[Hamza2424]

Explanation

Source TGM

By the way, I think the value of the 0.001 BTC holders is improved now, and in the future their market value and reputation are going shine sikee!!  

[Toxic2040]

the evening wall report


second wave assault continues towards $25kish
all ahead standard

dyor





4h


D

stronghands

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[OgNasty]

We are pushing right up against the resistance level today. I don’t want to get too far ahead of myself but it’s looking a lot like a move to $30K could be in the cards. I think once $25K breaks things could move very quickly. I wouldn’t be surprised at this point if we ended the month at $30K, but we could easily see the price fail to get through the resistance at $25K also.

[Ryu_Ar1]

conditions today, it looks like the door began to be knocked

[ChartBuddy]

Explanation

[Gachapin]

...

Well, I found out why the blockchain is clogged up with so many UTXOs that otherwise seem to have no function...  Ordinals/inscriptions.  Examples (these two aren't bad, but a lot of stupid stuff being posted):

https://ordinals.com/inscription/625d1f451777031065aaf1530ec7aecf5e4885f3b0c06b9fc5dbbc6aaf439d0di0  <== Bill Gates soon?

https://ordinals.com/inscription/fdad3bc7513e5522e3fbf69f5c03085df489fc7e27881c7ba64f7cadc5c6dccci0  <== a newspaper headline

https://ordinals.com/inscriptions  <== inscriptions explorer


I would (likely) be against ordinal inscriptions, as they do seem to slow things down, and Bitcoin's blockchain's best and highest value is for moving money.  IMO.


Edited for errors, geez that took a while...

NFT art was dumb on Bitcoin and then
NFT art was dumb on Ethereum and then
NFT art was dumb on Solana and now
NFT art is dumb on Bitcoin again.

But folks should be free to have fun.

https://twitter.com/lopp/status/1623659503051735041

[OutOfMemory]

...

Well, I found out why the blockchain is clogged up with so many UTXOs that otherwise seem to have no function...  Ordinals/inscriptions.  Examples (these two aren't bad, but a lot of stupid stuff being posted):

https://ordinals.com/inscription/625d1f451777031065aaf1530ec7aecf5e4885f3b0c06b9fc5dbbc6aaf439d0di0  <== Bill Gates soon?

https://ordinals.com/inscription/fdad3bc7513e5522e3fbf69f5c03085df489fc7e27881c7ba64f7cadc5c6dccci0  <== a newspaper headline

https://ordinals.com/inscriptions  <== inscriptions explorer


I would (likely) be against ordinal inscriptions, as they do seem to slow things down, and Bitcoin's blockchain's best and highest value is for moving money.  IMO.


Edited for errors, geez that took a while...

GM
Maybe some kind of "spam attack" with random content?
To drive some "unscalable blockchain" narrative, like "bitcoin may bloat up in size and slow down to halt s00n"-like stuff?
Just wondering.

EDIT: Oh yeah, i consider NFT as blockchain spam, too 

[ChartBuddy]

Explanation

[psycodad]

...

Well, I found out why the blockchain is clogged up with so many UTXOs that otherwise seem to have no function...  Ordinals/inscriptions.  Examples (these two aren't bad, but a lot of stupid stuff being posted):

https://ordinals.com/inscription/625d1f451777031065aaf1530ec7aecf5e4885f3b0c06b9fc5dbbc6aaf439d0di0  <== Bill Gates soon?

https://ordinals.com/inscription/fdad3bc7513e5522e3fbf69f5c03085df489fc7e27881c7ba64f7cadc5c6dccci0  <== a newspaper headline

https://ordinals.com/inscriptions  <== inscriptions explorer


I would (likely) be against ordinal inscriptions, as they do seem to slow things down, and Bitcoin's blockchain's best and highest value is for moving money.  IMO.


Edited for errors, geez that took a while...

I had to deposit some corn into Kraken yesterday. Was scared from what I saw on https://jochen-hoenicke.de/queue/.
At the end I paid a fee of ~$0.35 (@ 7sat/vb) to move ~0.2 BTC within 15minutes.
IMO this whole ordinal crap just lifted the base fee from 1sat/vb to 5-10sat/vb which is still incredibly cheap for what it is.
Me thinks it looks like the whole fee-market-mechanic built into Bitcoin is working as intended.

Even if mempool is having a huge queue right now, it is almost exclusively 1sat/vb transactions, pay a little more and things are as fine as they were before ordinals came along.

<thisisfine.jpg>

[ChartBuddy]

Explanation

[dragonvslinux]

Very much at the Weekly death cross now. Price has reclaimed $24K with a ~10% engulfing candle after 3 weeeks of consolidation meaning there is plenty of room to the upside if $25K breaks. Price isn't even overbought on Daily time-frame like it was for around 3 weeks last month. This is where many think price will get heavily rejected, like previously at $24K, but I'm not one of those people.

For starters, the 200 Week MA is trending upwards still, so shouldn't act as resistance. Not forgetting that it failed to act as support on the way down or resistance after a re-test given it was reclaimed for a few weeks back in August. Really it's only about the 50 Week MA that's trending downwards in bearish formation. Like 2019, it may hold back price for a week or so but with momentum isn't as difficult to break as many assume.



Confirmation for the rounding bottom confirms above $25K with a +50% move to around $37.5K imo with price back on the 2019 track for another parabolic move to the upside.



Still waiting for many bears to flip bullish again. They are all convinced that $25K will hold as resistance. If it doesn't, they'll be buying back between $25K and $30K and finally admit they were wrong.

Like Capo: https://twitter.com/easyeight08/status/1623715156571168768

[ChartBuddy]

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[ChartBuddy]

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[ChartBuddy]

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[d_eddie]

Buddy stops here.

[ChartBuddy]

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[BountyProgram]

Bitcoin go ahead🎢