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

[cAPSLOCK]

As I've never been much of a miner I don't think I am as sensitive to price and its relationship with hashrate as others may be (looking at  you PM).

But one thing I've been knocking around in my dustbin are the effects of AI on power consumption, datacenter use, and therefore Bitcoin mining.

It has seemed to me to be an obvious first order effect that we would see some fair weather Bitcoin miners jumping over to the greater hype of AI.  Obviously, I think situations will become much more intricate than just "we used to be a Bitcoin miner. Now we're going to retool everything and become an AI data center."  and frankly, the people that follow that path will most likely get run over by the reality of something.

And I haven't thought a lot about it, but I could imagine AI datacenters dedicating a certain portion of their resources to Bitcoin mining, and there could be advantages to doing it in some sort of a modular way where demand can be met with different forms of compute.

Then there is the whole subsidized reward part of mining, which continues to go away. This is very interesting and obviously some people think it eventually breaks Bitcoin. I am not one of those people for what it's worth, but...

Lots to chew on.

[vapourminer]

This is a very interesting point that we've reached at this moment.

Considering various price targets and other stuff that I'm not understanding of, I may make a picture of the chart on my phone and lines that I put on it because I like to do that just to feel like I have some kind of input to technical analysis.

my technical analysis:

smoke enough weed till the chart lines blur, then click "buy"

worked out great so far

[cAPSLOCK]

This is a very interesting point that we've reached at this moment.

Considering various price targets and other stuff that I'm not understanding of, I may make a picture of the chart on my phone and lines that I put on it because I like to do that just to feel like I have some kind of input to technical analysis.

my technical analysis:

smoke enough weed till the chart lines blur, then click "buy"

worked out great so far

I love it. Ive always loved the fact that it was us stoners and gamblers who began to see why this money mattered first.

[cAPSLOCK]

Sure...a recovery, but only future would say if it was a baby bull or just a bounce.
However, i hope for the former.

I could change my name to future if it would make the truth easier to digest for you.

Jokes aside, as long as we keep seeing lower highs the bear market is in place. This latest bounce that resulted in a rejection at the $74K resistance level was actually extremely bearish.

So this would make me assume that we are at an interesting point. This is sort of the reason I said that a moment ago. Looking for Mr. Nasty's, interpretations. I suppose if we bounce off this level right here and shoot back down, it would be a grand confirmation of the various readings.

But is that going to happen?

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

Sure...a recovery, but only future would say if it was a baby bull or just a bounce.
However, i hope for the former.

I could change my name to future if it would make the truth easier to digest for you.

Jokes aside, as long as we keep seeing lower highs the bear market is in place. This latest bounce that resulted in a rejection at the $74K resistance level was actually extremely bearish.

So this would make me assume that we are at an interesting point. This is sort of the reason I said that a moment ago. Looking for Mr. Nasty's, interpretations. I suppose if we bounce off this level right here and shoot back down, it would be a grand confirmation of the various readings.

But is that going to happen?

maybe 🤔

you never know.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

Time will tell if this rally gets any where near 118k and is a real bull and not a baby bull.

Oh gawd..  

There is no such thing as baby bull.  Baby bulls are like fairies..

Imaginary.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com