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

[HairyMaclairy]

Here is my read of the situation for what it is worth.  We are close to retesting trend line 1 now.  I thought it was going to break earlier (hence my previous downward arrow post) but it held and the price bounced up.  



Close up showing the current test of trend line 1.  Even if it breaks we will probably bounce on trend line 2, at least for a bit. 

[bitserve]

good lord

are we actually catching some support here?

Thank you...Thank you...selling at $3,694.20 saved all of you and I started the pump up. It is like I have a superpower skill that works backwards.

but it is good to know that my panic'ing and selling 13 BTC like a 9-year-old girl child (including screaming) was a big help to the BTC ecosystem.

I shall now do other good deeds like tossing myself in front of trucks so people can test their safe driving skills ...

brad

I had a buy stop at $4315 which triggered a physical buy order to hedge my short.  So now you have sold @ $3649 and I have bought at $4315.  I am concerned this may have long term consequences.  We could be stuck in this range for awhile!

So your trading position is neutral now? What would you consider it is the most probable trading range now? I thought it could be 4.2 to 4.5 but it seems like it is not.

Yes until we get back down into the 3s at which point my short will become profitable again.  And I have already sent the physical to cold storage.

I am trying to understand what you just said. If I understand it correctly, instead of closing your current short what you did is buy an equal amount of BTC so that you are hedged if the price continues to go up but, ok. But, if instead it goes down, your short is in profit but you lose an equal value on your recently bought physical. So basically you are paying lending fees for nothing?

Does it have anything to do with taxes? I really can't understand why you would do that instead of just closing the short... or I am missing something here.

[HairyMaclairy]

I am trying to understand what you just said. If I understand it correctly, instead of closing your current short what you did is buy an equal amount of BTC so that you are hedged if the price continues to go up but, ok. But, if instead it goes down, your short is in profit but you lose an equal value on your recently bought physical. So basically you are paying lending fees for nothing?

Does it have anything to do with taxes? I really can't understand why you would do that instead of just closing the short... or I am missing something here.

I believe that the price will go down in the short term and up in the long term.  So I believe that I can turn a short term profit on my short and a long term profit on the physical.  I also believe that profit will exceed any lending fees.  But if I am totally wrong, my position is neutral (other than lending fees) until I decide to close the short.  Lending fees are sufficiently low over the relevant time span that they can be disregarded.  

On the other hand, if I close my short all I do is crystalise the loss.  

Maybe I should be buying options instead to hedge the short but I haven't gotten my head around how to properly price that scenario. 

[alevlaslo]

$113000 at april 2022

https://ru.tradingview.com/chart/BLX/Z1uO7AdU-bitcoin-doroga-k-1oo-ooo/

the last wave is incorrectly drawn, below 3500 will not fall, each wave must stretch according to Elliott's law, the story develops in a spiral, not in a circle, now there will be a strong correction up to the line of 6000

[mindrust]

$113000 at april 2022

https://ru.tradingview.com/chart/BLX/Z1uO7AdU-bitcoin-doroga-k-1oo-ooo/

the last wave is incorrectly drawn, below 3500 will not fall

[alevlaslo]

the drop on the panic was, now back to 6000

[wayna]

England was already with a boot inside the EU and another one outside.

They ain't going too far alone, their economy is not enough strong to compete against big players as it was a couple of decades ago.

Since it's mainly about immigration issues (nothing new) it sounds like they want to mimic Australia or Canada but they are very different countries actually.

[ChinkyEyes]

Ohh Lucy and Moocy, I gonna need this. The classic Corrida Colosseum. Go Moocy ride on to the resistance area.

Did you just fckin highjack my avatar  

*uses haoshoku haki*

[bitserve]

Ohh Lucy and Moocy, I gonna need this. The classic Corrida Colosseum. Go Moocy ride on to the resistance area.

Did you just fckin highjack my avatar  

*uses haoshoku haki*

WTF! You are right! This shouldn't happen! It's the first case of HAT hijacking we have ever had!

[Elwar]

the drop on the panic was, now back to 6000

2 more years under $10k.

 

[bitserve]

the drop on the panic was, now back to 6000

2 more years under $10k.

 

Two years 5K stablecoin. Who needs Tether now?

[bitserve]

$4327

[marcus_of_augustus]

Two years 5K stablecoin. Who needs Tether now?

.... bitcoin doesn't work like that.

[Globb0]

Cockroack cockroach,
Cockroach cockroach,
Cockroach cockroach,
Cockroach cockroach,
Cock

[bitserve]

Two years 5K stablecoin. Who needs Tether now?

.... bitcoin doesn't work like that.

I know, I was mocking the graph.

[Totscha]

$4327

There's nothing like the smell of rekt shorts in the morning.

Sorry Hairy....

[El duderino_]

the drop on the panic was, now back to 6000

2 more years under $10k.

 

I actualy don’t believe that.....

[Wolf Rainer]

OFFTOPIC: Why is everyone with a CAP on the avatar?

[soullyG]

OFFTOPIC: Why is everyone with a CAP on the avatar?

https://www.youtube.com/watch?v=1Y_KNYNzN6A

[Elwar]

Price is still so low.