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

[JayJuanGee]

In my real life interactions, I continue to come across a decent number of people who make some superficial inquiries into my bitcoin views and strategies, and when they seem to be inquiring about whether I make any recommendations, I continue to have a kind of stock response, which is to say that no matter what the most recent price performance of bitcoin, it remains a good idea for no coiners to begin by attempting to set up various bitcoin accounts at the soonest point that they can, and then to get their own finances in order so that they can begin to dollar cost average into bitcoin.  Of course, once they begin to dollar cost average into bitcoin, they can also begin to consider the extent to which they might tweak their approach beyond dollar cost averaging, but the beginning steps remain to set up various accounts and to get their own finances into a sufficient kind of order so that they can begin to do the bare minimum in taking initial staking steps into BTC in the form of dollar cost averaging.  So far, and on an ongoing basis, it appears to me that very few people with whom I had discuss these "getting started" bitcoin related matters, in real life, actually take the next initial steps, which is at least setting up some kind of BTC account(s) to put them in a place to actually take a kind of concrete action to make a purchase, even if it ends up only being a small amount of BTC.

I have been asked so many time my views on ho to approach Bitcoin, that I setup a thread to be copied and pasted in an email to be sent them.

That's definitely a decently good newbie thread.  Thanks for the reminder for me or anyone else who might consider sharing that link or some of the contents therein with a newbie who might be sufficiently receptive.

By the way, some of my newbie inquiries like to talk to me about the topic, but they are not even quite to the stage of wanting to read into materials that I might suggest to send them, so I frequently try to change the topic when I realize that some of these folks merely want to talk but are not too likely to do anything on their own... except maybe once BTC goes above $35k in the near future...... hahahahaahaha

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[Gyrsur]

believe me or not. if this last high is the future 61.8% retracement level and the ATH from 2017 is the future 38.2% retracement level our next target will be $30k.

Here is another way to use Fibonacci the way my mentor taught me to do Fibonacci extentions. Results agree from two approaches.



Even higher Fibonacci extensions predict $300,000 I wrote about it here.

nice man, thank you! your approach is the common one to use fibo extensions. my unorthodox method of using the fibo retracements is based on that: I was always wondering that some price levels were important in the past but the high was not fully formed. if you look at the picture maybe you will get a glue what I mean. the 61.8% and 78.6% level had and impact to the price but the high was not known at this time. this is what I always wondering about if I work with fibo retracements. the high is not known but if you look later back you can recognize some fibo levels were important to the price action but the top was not in place at this time.



EDIT: 50% level was also important to the price action but is not marked in the screenshot.

[JayJuanGee]

^ https://archive.is/7aGcc
archived for those who don't wanna dip their dicks in the Guinness jar

I don’t understand the article. For Bitcoin to succeed, it should remain sub $1,000 or so?

Personally, I think the other way around. Bitcoin should become extremely high priced due to a whole lot more people holding and using it as a store of value. The perfect money. The ultimate stable numeraire.

At such high fiat prices, Bitcoin would become stable, boring even, fulfilling its role as stable anchor in a sea of currencies, services and products floating around the planet.

Bitcoin remaining at some $1,000s also functions flawlessly from a technical perspective, but would have failed as a social experiment.

Yep, exactly...

It is a bit funny (or not) that many of these mainstream expert pundits suggest scenarios that are the opposite of true, as if bitcoin gives any shits about their version of "what would be preferred." 

So, yeah, Wekkel, not only are you correct about what would be preferred, you are also correct about the likely direction of bitcoin whether we have such preferences or not.  Accordingly, sound money, like bitcoin, has a gravitational effect without regards to various individual (even if influential) preferences.

[aesma]

Talking about an arbitrarily "low" price for bitcoin is not understanding the basics of bitcoin : it's deflationary. It just stayed relatively low for a long time and what happened ? Interest in bitcoin went down dramatically.

[rebal15]

CONGRESS FORMALLY REQUESTS HALT OF LIBRA DEVELOPMENT | FACEBOOK GETTING ZUCKED
https://sanfranciscotribe.com/Home/index.php/2019/07/03/congress-formally-requests-halt-of-libra-development-facebook-getting-zucked/
https://twitter.com/brucefenton/status/1146184692229693446

Looks completely fake. "Would you mind suspending your little project ?"

I don't know if it's fake or not. But isn't the reason they run it from Switzerland to stop Congress from having a say in it?

THIS IS BTCITCOIN

She's cute, sure... but this looks more like bcash to me...

Beautiful outside, nothing inside - BCash

A cute girl promoting Bitcoin: I can only encourage that

Congress halting libra development cuz they are working on Bitcoin porn ETF.

[fillippone]

Yeah!
Bend the KNEE to King Bitcoin.

https://twitter.com/WhiteRabbitBTC/status/1146384965057286144/photo/1

[fillippone]

EDIT:
This news has already been published by VB1001:

https://bitcointalk.org/index.php?topic=178336.msg51694827#msg51694827
Sorry for double post!

Wow.
This is a great improvement.
LN has beegn lagging behing as per UX experience, Particularly on mobile devices .
This might be a "closed" and not cheap solution, but it's going on the right direction!

[rebal15]

Yeah!
Bend the KNEE to King Bitcoin.

https://twitter.com/WhiteRabbitBTC/status/1146384965057286144/photo/1

So that shitcoin Bitcoin has made 70% vs bitcoin during 1y.

[fillippone]

Yeah!
Bend the KNEE to King Bitcoin.

https://twitter.com/WhiteRabbitBTC/status/1146384965057286144/photo/1

So that shitcoin Bitcoin has made 70% vs bitcoin during 1y.

Bitcoin is measured against USD shitcoin.

[HairyMaclairy]

Well, things appear to have escalated during my decent into mental illness. I have nothing Bitcoin-related to add to the discussion. But anywho. Keep on keepin' on. Stay safe. Tally-ho. Hi.

Welcome back man.  You have been missed.

[d_eddie]

All hail the Mayor!

[Last of the V8s]

https://www.reddit.com/r/bitcoincashSV/comments/c8rr8y/latest_court_document_david_kleiman_received_11m/
seems legit

[7jaka7]

Some say we are at 1. some say we are at 2. What do you think?
I would say we are already in disbelief phase.

Are you trolling with that nonsense?  Did Tone Vays or Tyler Jenks put you up to this in their likely realization that their previous assertions of inevitable $1k to $2k was WRONG?

It should be pretty obvious that we are no longer in any kind of area that even resembles area 1 as depicted in that chart... but who the fuck knows exactly where we are at?  

Currently, to me it is feeling kind of like there continues to be a decent amount of ongoing pressures in the direction of UP.

My condolences to those dumbasses who sold in the $9ks with their anticipation to buy back at $8k-ish or below.  Kind of feel bad for them, but really I am NOT feeling too bad because you are dumb to be selling BTC on the way down during corrections that occur in a bull market, even if you believe that the odds are in your favor (which largely just means such odds are merely greater than 50% that might not play out in reality).

No, I am not. I was actually surprised too when I heard people speculating that we are still in that first phase. But I wanted to hear more opinions.

[cryptjh]

Crypto money flow in the last 24 hours
https://coinlib.io/global-crypto-charts

[Globb0]

London financial pages tonight

[bkbirge]

London financial pages tonight

Because "derivatives trading ban" wouldn't be as catchy in the headline.

[Globb0]

^
Can only say I do love the phase where i'm in and that the HODL-phase!!!!!!!!!!!

By the way, I checked in with my mom in regards to some of her BTC details a few days ago, and I was surprised in a few regards.

She is actually one of the few peeps who actually did something that is in the neighborhood of what I suggested, and that was to at least put some money into BTC and to dollar cost average and to only sell small amounts on the way up in order to be prepared for further possible UP.

So, she largely has been following my suggestions, but her revelations to me a few days ago, showed me that peeps are going to do what they are going to do, and peeps got their own minds and they are going to experiment to some degree. 

I usually did not ask her for too many details about what she had been doing, but just to get overviews from time to time and then also to spout out some of my suggested strategies on a fairly regular basis in order that she could at least consider some of my thoughts and approach.   So, in that regard, largely I would remind her on a regular basis that she is responsible for her own portfolio choices and approach, so she usually had  not provided me too many details, except for a few days ago, she was telling me about the various shit coins that she had bought.  I thought that it was funny but also a little bit irritating that she had gone off and bought a whole bunch of shit coins, some of which I had never previously heard the name, in spite of my seeing references to a decent number of shit coins from time to time.  I was surprised but also at least a bit relieved that her investment in various shit coins was a very small percentage of her overall holdings.  When I kind of lectured her for getting involved with a variety of shit coins, including some of the no name ones, she said that she bought some of them because she kind of would get bored by ONLY having bitcoin in her portfolio, so she wanted to just play around with some of the other dumb shit and if they would shoot up in value for some unexplained reason, she would just cash them into bitcoin if those kinds of pumpenings were to take place with any of the various shitcoins.  I told her that she was largely wasting her time and brain power and likely getting scammed, but I could tell that she had largely already made up her mind to entertain herself with these various small investments, just for shits and giggles.

You brainwashed your mum!

Fuck. She will be rich but she can never enjoy it now she is a ladder drone.   

[DireWolfM14]

London financial pages tonight

Propaganda watchdog, DireWolfM14 warns that News Papers are not the unbiased, fair, and honest information delivery medium many assume them to be.  Most people today still believe that news outlets which deliver information through the use of paper products are trustworthy.  Studies by watchdog DireWolfM14 suggest, like their digital cousins these publications are wrought with bias, misinformation, omissions, and in some cases demonstrable lies.  "It's a tragedy that these organizations aren't held accountable for misleading people," DireWolfM14 stated in a recent interview.  "The fact that they can omit relevant information from a news story allows them the steer a certain narrative, and promote bias within their readership, a bias that may not develop if the readers were well informed."

When asked to provide a specific example DireWolfM14 was quoted as saying "Just pick up any news paper that has written an article or Op-Ed about bitcoin, and I'll prove to you the reporter is a shithead who doesn't know his ass from a hole in the ground."

[actmyname]

I would call journalism a joke except it's not funny either

[tmfp]

London financial pages tonight

Presumably the "market abuse" also refers to the $40 buy/sell spread currently applied to Bitcoin by IG (UK's biggest deriv platform).

Propaganda?
That newspaper article is in the London Evening Standard.
Editor?
George Osborne, ex Chancellor of the Exchequer, currently maneuvering for Lagarde's job at the IMF.