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

[Toxic2040]

Local low of $3.4kish?  How did you determine that?

The low for this cycle was about $3,122 on December 15.  Is that what you meant?  There is not an intermediate local low that has any meaningful significance, is there?

By local I mean just that.

Jan. 22nd was a "local" low imho, If I had meant the ATL of last year I would have been more explicit. Regardless of that, both of these data point's are fairly obvious on my chart. I had thought I had you all properly trained by now to my idiosyncrasies and propensity to obfuscate what I am really saying. If you look closely you can see that the area of probability that I have emphasized begins at Jan. 1st and expands outwards from there. The lower line emanating from the ATL of 2018 and connecting to the "local" low of last week highlights what I believe is a rising channel we are currently in even though the price action has been somewhat sideways. Until one of these arbitrary lines is broken my prognostications remain unchanged. I think sometime around the 27th we will see a dip that may or may not puncture below the 0.236 fib and potentially challenge the local low. The first week of coming month should see a rebound and recovery from any such price action and set a course for an area of high uncertainty at the current time. #dyor     

[realr0ach]

https://motherboard.vice.com/en_us/article/d3q45v/bittorrent-usage-increases-netflix-streaming-sites
Torrents making a comeback? Not surprised really. I find it fascinating to watch the torrent community as the uncensored precursor to BTC.

Always wondered why people went to streaming sites instead of just downloading content they wanted to see.  Perhaps it has something to do with years of habitually flicking through channels for random entertainment.
Everything moving in exponential cycles. Bullish!

The article conclusion is wrong.  People aren't pirating more due to fragmentation, they're pirating more because the global economy is imploding and they can't afford buying boxed sets of movies, video games, and giant cable packages.  Piracy is also up in the games industry because there's more half baked shovelware now than ever which makes people associate every game being a waste of money.

[HairyMaclairy]

[Toxic2040]

Interesting. A new era of corporate and sovereign slow data bases is nigh upon us.

https://www.technologyreview.com/s/611656/will-people-ditch-cash-for-cryptocurrency-japan-is-about-to-find-out/

[JayJuanGee]

Local low of $3.4kish?  How did you determine that?

The low for this cycle was about $3,122 on December 15.  Is that what you meant?  There is not an intermediate local low that has any meaningful significance, is there?

By local I mean just that.

Jan. 22nd was a "local" low imho, If I had meant the ATL of last year I would have been more explicit. Regardless of that, both of these data point's are fairly obvious on my chart. I had thought I had you all properly trained by now to my idiosyncrasies and propensity to obfuscate what I am really saying. If you look closely you can see that the area of probability that I have emphasized begins at Jan. 1st and expands outwards from there. The lower line emanating from the ATL of 2018 and connecting to the "local" low of last week highlights what I believe is a rising channel we are currently in even though the price action has been somewhat sideways. Until one of these arbitrary lines is broken my prognostications remain unchanged. I think sometime around the 27th we will see a dip that may or may not puncture below the 0.236 fib and potentially challenge the local low. The first week of coming month should see a rebound and recovery from any such price action and set a course for an area of high uncertainty at the current time. #dyor     

Fair enough to suggest that there might be some greater nuance in the lines than what some others, such as me, might be willing to appreciate.

Personally, I doubt that there is much significance to any price point between here and the low of $3,122 on December 15.   So, yeah, let's see if BTC prices get close to the $3,122 or break below it. 

Furthermore I don't give much significance to being out of our current bear market until, perhaps, BTC prices get back above $6k and stay there.

Of course, if there is some additional passage of time that cause BTC prices to get caught in higher channels than it is now, such as getting caught above $4,100 or $5,100, then I might change my thinking.  So, downwards and $3,122 seems to be the most relevant number at the moment, and any other higher price points, between our current price and $3,122 hardly has any significance.. but go ahead, argue whatever you want and present what you want.   

[bitebits]

Cryptopia hacked, no impact on the market.
Van Eck ETF was pulled, no impact on the market.

We would've dropped big time 2 months ago.
Bullish.

I believe this means the short term speculators / weak hands are mostly out. Whatever the news, the current holders are not selling at these prices.
Once the inflow of new coins can be supported, we reached bottom. The halving then might spark bitcoin's fire once again.

[Toxic2040]

Fair enough to suggest that there might be some greater nuance in the lines than what some others, such as me, might be willing to appreciate.

Personally, I doubt that there is much significance to any price point between here and the low of $3,122 on December 15.   So, yeah, let's see if BTC prices get close to the $3,122 or break below it. 

Furthermore I don't give much significance to being out of our current bear market until, perhaps, BTC prices get back above $6k and stay there.

Of course, if there is some additional passage of time that cause BTC prices to get caught in higher channels than it is now, such as getting caught above $4,100 or $5,100, then I might change my thinking.  So, downwards and $3,122 seems to be the most relevant number at the moment, and any other higher price points, between our current price and $3,122 hardly has any significance.. but go ahead, argue whatever you want and present what you want.   

I try to just observe Jay, regardless of my personal bias. Which is skewed heavily towards bullishness I might add.. The fact of the matter is bitcoins price in correlation to fiat on any given day is not relevant to me personally. I find value and usefulness in bitcoin no matter what the "price" is. The ability to use and store value that is censorship resistant is extremely important to me at a fundamental level.

My nuance's tend to vacillate between a sledge hammer and a soft whisper, which is perhaps indicative of my personality. I do appreciate you giving permission for my continued speculative efforts however. 

------
What I am watching along with many others I am sure, is the development of this pattern on the monthly chart indicating a possible swing low. Time will tell..

[kenzawak]

[JayJuanGee]

I do appreciate you giving permission for my continued speculative efforts however. 

Formally, I am prepared to go so far as to anoint you with such permissions.

[El duderino_]

If you notice, there are certain kinds of users who do not give out merits, and roach is one of them.  

The merit system serves absolutely no purpose so I do not participate in it.  All it is is people having a contest to see who can say the most outrageously buffoonish bullish statements that have no basis in reality and then people merit you for lying or making up bullshit.

May I have the 12 merits that I gave to you back then? Also, according to BPIP.org, you are ranked #223 in most merited out of thousands of people. https://bpip.org/profile.aspx?p=realr0ach

Edit:LOL that's the most merit I ever got for any post. 

@r0ach like every day you’re wrong AGAIN..... there Maybe are people giving merits to especially bullish and btc related Posts..... but as well to MANY MANY other things, like people discussing you’re nazi thought, or woman thought or people posting something like lebowski shit or like Some real life joy moment or for a hat, or for helping out a fellow member with something or with many different shit.....
Good to see you handeld Some out right there

[HairyMaclairy]

Grreeeeen dildo.

Bring out your bulls. 

[jojo69]

shitty little pumplet is shitty

[El duderino_]

Very early morning down here, very hard lesson of gritt cardio right now
@these moments a little shitty green dildo even brings joy
Common break those 10K Numbers

[Wekkel]

Woonomic chart indicates that we may be at bottom:
http://charts.woobull.com/bitcoin-mvrv-ratio/

Just endure a little bit more.

[criptix]

Guys i take it back - etf withdrawal news already priced in.

Weekend pump ahead!!

(Dont let me jinx it satoshi)

 

Edit:

Historically we should now be very close to the end of the bear market

[criptix]

I agree.

This will be a help for adoption.

Pretty much every single millenial and gen z has a smartphone nowadays (even in 3rd world nations).

Making it easier to access and store crypto will put the barrier of entry definitely lower.

[Cryptotourist]

Morning WO's!

Nice to wake up green dildo style.

Funny day already, I seem to be tripping:



Thanks r0ach, I really appreciated your gesture.
It might not mean much to you, but merits for me are a way of saying "Thank you" for what you just read. Even if it's off-topic or it just made you laugh.
You still owe Mic some merit for buying some gold. You have to merit where your mouth is imo.

#

HairyMacLairy & Grin Observer...
That's it, I'm rolling a blunt one

[VB1001]

Good morning.

Today is my birthday !!!, happy to share it in WO,s

Last night I went out to dinner with my wife, some photos.

[El duderino_]

^
I had 1 Smerit left
Were would it fit better as right here

Happy birthday, have Fun and THX for sharing all of you’re good post till today already

#lookingGOOD

And probably next week able to wear you’re XhomerX originalz

[VB1001]

^
Yep !!!, I think that Tuesday or Wednesday updates the activity.



Everything is ready.