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

[Hueristic]

Uncle Bumblefuck's advice for young men

https://www.youtube.com/watch?v=E7RgtMGL7CA

Trouble with Tribbles directors cut, that Kirk is a freak. Lol

[jbreher]

Gotta visit Ukraine:

https://twitter.com/hey_ashiwel/status/1175398628120301568

Like a boss.

[jbreher]

And my hand representing for WO.

Those fingers do not appear very dexterous.  Very sausage-like.  How are you supposed to compete typing against JayJuanGee with fingers like that.

I'll have you know that those fingers spent over a year straight in the top ten of the MySpace Global Indie Blues Album chart.










err... Come to think of it, MySpace was a lot of meals ago.






edit: it's the parallax error from foreground/subject - gotta be.

[JayJuanGee]

... you brought the wrath upon yourself. 

Hahaha. "wrath" ha. That's rich. Witness me quaking in my boots.

No need to quake, jbreher.  I am just reasserting a point that I have made several times, when you seem to be complaining that some peeps here (including yours truly) are being too much meanie to you.

Meanie? Laughable.

You're that irritating insecure kid three years longer on the planet, trying to lead the ostracization of that person that does not think exactly like you do, all the time looking over your shoulder to ensure that you don't go so far as to be exposed as the wannabe-bully that you so desperately want to be known as.

Carry on, sweet special child, carry on.

Yes,  You and your deflection, jbreher.  You are really stabbing in the dark regarding my supposed motivations, which is to largely be irritated by your shitcoin pumping and bitcoin bashing.... so call me a wanna-be-bully all that you want.  If you actually genuinely dropped your shit coin pumping, then probably there would be less repulsion regarding your bitcoin bashing... and I am not the only one bothered by your dancing around your own motivations while attempting to deflect onto others, such as me.

[jbreher]

... and I am not the only one bothered by your ....

Umm hmmm.... Umm Hmmm.

[VB1001]

Previewing the debut of trading in daily and monthly physically-delivered Bitcoin on Monday,
@FortuneMagazine
 offers a glimpse of what’s to come

https://twitter.com/Bakkt/status/1175094597355282433

Will the Bakkt Launch Help Bitcoin Go Mainstream?

On September 22, a product designed to remake Bitcoin as a mainstream investment for the world's investment managers will go live. When ICE Futures U.S., one of the world's largest commodities markets, opens trading at 8 p.m. ET that day, it will offer Bakkt Daily and Monthly Bitcoin Futures, the first physically delivered crypto-currency contracts ever traded on a federally regulated exchange.

https://fortune.com/2019/09/20/bitcoin-futures-bakkt-launch/

This is coming.

Well, allow me to be extremely sceptical of wheter this will be positive for BTC. Probably yes at first, but long term no. It will first try to suppress volatility, later become a tool for outright manipulation. Just like what happens with gold.

I practically think the same as you, but if this helps maintain price stability and at the same time increases the value of Bitcoin progressively, it would benefit us all.
The gold graph is only to indicate the sudden increase after your ETF.
If all goes well, Bakkt will move significant sums of money + BTC, perhaps "manipulation" to curb volatility is the first step towards mass adoption.
Bakkt is not the same as CME or CBOE.

[VB1001]

https://i.imgur.com/oCghhgu.jpg

"Bitcoin will never work"
- Trolls

"Bitcoin will never work"
- Shitcoins

"Bitcoin will never work"
- Ex-Dev

You left out:
"Bitcoin will never work"
- a rather frightening percentage of now-significant-Core-devs

LOL, Jbreher, you take any opportunity to charge against your opponent.

When you drive on a highway and see all the cars coming towards you, maybe it's you who drives in the opposite direction.

[mindrust]

Those old fat fingers and that big ugly ring look like they belong to a government agent.

I am sure 95% of us here have long slim dota/guitar/c++ fingers. :d

[VB1001]

<...>

Good morning, Mr. Ambassador, nice hat.
Then, the meeting was with several WO members, sure they had a great time, although the place seems a little small, the tables together, low, very tight.
Was it a hidden secret basement?

[realr0ach]

Those old fat fingers and that big ugly ring look like they belong to a government agent.

I am sure 95% of us here have long slim dota/guitar/c++ fingers. :d

Boomers are an integral part of the Jewish matrix that will blindly follow orders passed down to them by an (((agent Smith))) from the television.  But what happens when the evil cult of Judaism attempts to launch an attack after running out of boomers?

[mindrust]

Even Trace Mayer look like he is terrified.

He definitely looks like he just saw a "Smith"



Run Trace, you can't win.

[fillippone]

via Imgflip Meme Generator

WO-brothers in arms

I wish I hand an hand in this picture.

Brother in arms.
I would call it.

[VB1001]

Don’t trust the liquidity

There is renewed hope in the markets after central banks, most-recently the ECB and China, have added easing measures. The working narrative is that these will, once again, renew global growth and allow governments, corporations and consumers to go even more deeply into debt. But will the increase in liquidity work this time around?

Several arguments can be made indicating that the answer is “no”. It’s likely that this ‘liquidity pulse’ may provide a temporary boost to the markets, but not the real economy. This is an extremely hazardous combination.

https://gnseconomics.com/en_US/2019/09/12/dont-trust-the-liquidity/

This is over, BTCitcoin, hurry up!!!!!

[HairyMaclairy]

We never closed below the 137 daily MA during the 2017 bull run.  

Right now, we are immediately above the 137 daily MA.




Zoomed in



We are also getting down to the pointy end of the pennant



And volatility as shown by Bollinger band width in the middle bar is way down



When volatility falls very low, it means Bitcoin is winding up for a big move.

What does this all mean?  I am not entirely certain whether we will go up or down, but we are primed for a big explosive move.  The move will probably happen around the Bakkt launch on Monday, and will be preceded by a fake out in the other direction.  

Bullish factors:

* We are in an overall bull market driven by the halvening. Accordingly any bear attacks should be blunted and relatively short lived.  The halvening is only 8 months away.

* There is a fear in the market that Bitcoin will collapse after Bakkt release like it collapsed after the CME and CBOE.  If we all find that Bitcoin does not collapse this week, this may lead to a relief rally.

Neutral factors:

* Daily RSI is at neutral, giving us lots of room to move in either direction.

Bearish factors:

*We are sitting on the 137 MA daily.  There is a “rule” that Bitcoin cannot close below the 137 MA daily. Rules in TA are made to be broken.  Closing below 137 MA daily would make a nice scare for the bears.

*The 2015 fractal tells us we are still running hot and high.  The current price is around the forecast price at halvening.  This suggests we need to take some heat out of the market still.




Conclusion:

Next week is likely to be punctuated by shenanigans and big moves. I remain overall bullish but also short term cautious.  We should expect to break out of the pennant in both directions before finally deciding which way we will go.  

[Fatman3001]

Roach on ignore as well

[jojo69]

Roach on ignore as well

duh

[Fatman3001]

Roach on ignore as well

duh

agreed

[Lambie Slayer]

https://www.zerohedge.com/markets/fed-will-restart-qe-november-how-it-will-do-it

"However, and the reason why stocks shot up just before 3pm ET, is that that's when Powell added that “it’s possible that we’ll need to resume the organic growth of the balance sheet, earlier than we thought. ... We’ll be looking at this carefully in coming days and taking it up at the next meeting” in late October. Said otherwise, the Fed may not have announcer QE4 yesterday, but it will likely announce it in the very near future.

Sure enough, as Goldman wrote in its FOMC post-mortem, "we took this as a fairly strong hint and now expect the Fed to resume trend growth of its balance sheet in November with permanent OMOs. It is possible that the FOMC will take that opportunity to also reach a final decision on possibly shortening the maturity composition of its purchases, which it discussed at its May meeting."

So what will the Fed's restart of QE POMO (some analysts, such as Morgan Stanley's Matt Hornbach are very sensitive not to call the return of POMO as QE even though both are effectively the monetization of US Treasurys and the US budget deficit) look like?"

"And so, in just two months QE... pardon the Fed's open market purchases of Treasurys, will return after a 5 years hiatus. Just don't call it QE, whatever you do."



Money printers are going to be very busy helping us get to 100k.  Its almost as if they are our employees or personal servants

Yeah so I read that article and have no fucking clue what the hell he was saying ("organic growth" right after they printed that button of cash) so would you ELI5 this shit for us that don't speak "Insider lingo" and know what all those abbreviations mean.

The Fed has a "balance sheet." This is all the securities they own bought with money USD Shitcoins
printed out of thin air. The Fed uses complex jargon that most people dont truly understand like POMO, OMO, SOMA, and QE to obfuscate the fact they are just printing money, which even 5 year olds understand.

The Fed wont let Congress audit them and the American public and most of the American politicians have no idea what assets the Fed is buying and hodling with its printed shitcoins or how many shitcoins they are really printing. We do know that the Fed is Americas largest landlord as they own trillions of dollars worth of residential mortgages.

https://www.pbs.org/newshour/economy/making-sense/how-the-feds-balance-sheet-works-and-why-investors-care
"The Fed’s assets are made up mostly of government-backed securities and mortgage-backed securities that are issued by Fannie Mae and Freddie Mac."

They are the primary reason housing is unaffordable for most and cities like San Fran have streets covered in poop from hoards of homeless.

If I was a powerful wizard with a magic scepter that could enslave mortal Central Bankers and put them under my spell, I would use this scepter to make the Fed print lots of money and call it POMO, OMO, QE, and lower interest rates to near zero. This would inevitably send my Bitcoin to 1 million usd each and beyond and make me a fabulously wealthy Wizard. Unfortunately I dont have this scepter, but bc Im a lucky SOB the Fed is fulfilling my fantasies by doing this of their own free will.

[realr0ach]

The working narrative is that these will, once again, renew global growth and allow governments, corporations and consumers to go even more deeply into debt.

No smart money takes out debts to expand to service new customers if the customers don't exist due to peak, 1st world, population demographics.  And you can't expand forever on a finite planet so it had to happen at some point. Flooding the country with 3rd world invader baboons that aren't even capable of building or living in a 1st world civilization is the equivalent of trying to power your car by putting bananas in the gas tank.  

Since it's not possible to nigger rig an infinite growth paradigm out of thin air, the debt based currency system that requires infinite growth to exist implodes in massive deflation.  Instead of the banks ceasing to exist from all their loans going bad, the govt just hands them free money to bail them out and keep their balance sheet at non-implosion levels.  The real economy numerical values are still experiencing stagflation or deflation, but the bank bailouts prevents asset prices from deflating to where they should go so nobody can actually afford anything.

Since there's a wage + asset price mismatch, the system and banks then just implode all over again seeking it's previous, natural trajectory of deflation.  People noticed that bailing out banks does absolutely nothing without giving free money to the general population spenders as well to make both parties move in the same direction at once, so now they want to do that.  But giving people free money makes them less productive (assuming the money maintains any actual purchasing power), which then causes the number of goods to decrease making it a seller's market and causing rise in asset prices possibly to hyperinflation levels.  

Anything related to Keynesianism is a dysfunctional joke of unintended consequences and it will all eventually implode in some manner no matter what you do.  There's a reason the coinage act of 1792 states the penalty for debasing the currency is death.  As for Bitcoin, the amount of coins lost per year would always be enormous due to things like strong encryption and death, so all loans denominated in Bitcoin would go bad and you'd have the same deflationary armageddon collapse as the paper fiat situation above, while most physical metals are recovered.  With the exception the bankers have rigged the price of silver too low that causes too much of it to be wasted in applications it shouldn't be and none of it recycled.  The drop in supply will just cause price to skyrocket back to where it should be (several hundred in purchasing power) where it's not wasted and is recycled more like gold.

And no, you cannot force a 'gold only' monetary system like FOA claims and artificially prevent the monetization, price rising, and people using both silver and copper as well.  You have extreme problems with lack of granularity and counterparty risk in a gold only system.  It would never happen.  After the fiat system implodes, people will demand ability to remove counterparty risk and are not going to use some crap like Peter Schiff and George Soros' "Goldmoney" to add granularity to gold by letting them hold it for you and inadvertently be forced into a digital only system.  When metals are used, it's always going to be gold, silver, and copper all at the same time.

[El duderino_]

via Imgflip Meme Generator

Yeah last evening when I went to bed.... I quickly opened the WO and saw XhomerX Made this HAT, thought it was a very cool one... Will wear it for a few days Then gonna go back to the 15K battle HAT