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

[El duderino_]

I disagree on your interpretation of “relatively high”.  Weekly RSI is about 45 and falling.   Historically the only time we get under 45 Weekly RSI is during the significant bottoming events in January 2015 and December 2018.  I would say 45 Weekly RSI is “relatively low”.

To get much further down you have to assume a capitulation event. We already had our capitulation this cycle.  Am not convinced we need a second one this cycle.   During the 2013 first crash we never got below 48 Weekly RSI.

I see where you are coming from. The only thing I would add is we fell from 6k to 3k from these weekly RSI numbers. I don't discount a bounce here. I also would not be surprised if we go down to 7k. Beyond that I don't expect much further downside. I have been doing some buying at these levels , so that says something of my expectations.

Sure.  We are talking probabilities here.  I am not going to rule out a swing down to $7k either.  That’s only a 13% drop from here.   But I am calling an effective bottom somewhere around here. 

Good, cause the last thing I would want =

via Imgflip Meme Generator

[JSRAW]

Gabbard's Gym session are great though.

[bucciarati]

Bitcoin’s hashrate just hit another all-time high.

The most secure computing network in the world keeps getting more secure. (H/t @MatiGreenspan)

https://twitter.com/apompliano/status/1177514225524064257?s=21

maybe an equipment switch in some large mining facilities?

[realr0ach]

imagine being so poor you can't even spell Bentley

It doesn't look like you shitcoin scammers will have to wait long for that wish to be granted.  And now begins the new Darwinian era of - survival of who is capable of carrying the most physical silver.

[HairyMaclairy]

imagine being so rich spilling doesn’t matter

[erre]

Imagine being so poor you don't buy because you still can't afford a whole bitcoin cash 

[makrospex]

Imagine being so poor you don't buy because you still can't afford a whole bitcoin cash 

no swearing, please 

[El duderino_]

imagine being so rich spilling doesn’t matter

Then you be writing like a caveman, heard that before ....  obviously a joke

[marcus_of_augustus]

... violent protests and riots kicking off end of October, early November, UK and USA. ... pencil it in.

[El duderino_]

... violent protests and riots kicking off end of October, early November, UK and USA. ... pencil it in.

When Violent BTC buy IN’s

[bitcoinPsycho]

... violent protests and riots kicking off end of October, early November, UK and USA. ... pencil it in.

Bring it on

[plasticAiredale]

... violent protests and riots kicking off end of October, early November, UK and USA. ... pencil it in.

Thanks for the warning. I'll retreat to my HODL bunker.

In fact that's where I am now.

[Lambie Slayer]

Update on pro Bitcoin candidate election odds status:

https://www.predictit.org/markets/detail/3633/Who-will-win-the-2020-Democratic-presidential-nomination

I see Yang is already in third place ahead of Sanders in betting markets for winning the nomination and ahead of Harris and Pete who slightly lead him in the polls.

Sanders is pretty far ahead in the polls but I bet bettors are pricing in the fact that Yang's message will resonate strongly as the debates field is narrowed and he gets more attention, while Sanders crusty old man persona will drag him down.

YangGang is growing stronger.   Bitcoin will be mooning hard during the the actual Primary voting next year and of course during the Pres election which will only help Yang.



The living hyper intelligent entity of Bitcoin will be guiding Yang along the way.

"Yea, though I walk through the valley of the shadow of Nocoiners, I will fear no evil: for Bitcoin is with me;"

[Gyrsur]

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[Lambie Slayer]

Great news Gembitz, Fatty, and others!

Getting closer to a cure for Bcash and other Shitcoins.  

https://www.thesun.co.uk/news/10008045/hiv-cure-kill-switch-cells-reproducing/

[_javi_]

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[gentlemand]

... violent protests and riots kicking off end of October, early November, UK and USA. ... pencil it in.

Bring it on

I'm going to be handbagging the shit out of all the violent grannies who come for my nightly EU fireworks display.

[Lambie Slayer]

https://www.wsj.com/articles/fed-adds-110-1-billion-to-financial-system-in-latest-transaction-11569505632

Another day another 110 billion USD printed in the blink of an eye to prop up banks and the Stock Market at the expense of USD holders.

"Thursday’s operations were the ninth and 10th since last week in which the Fed has intervened to calm roiled money markets. Rates on short-term repos briefly spiked to nearly 10% last week as financial companies scrambled for overnight funding."

QE 4 is upon us and they are in full crisis mode even though stocks are at an all time high.

This is historically unprecedented yet barely a blip in the headlines as Trump consumes the majority of media attention as usual.


Yes we are dipping hard and the WO bottom memes to end the carnage have not yet arrived, but when we start mooning again look the fuck out because its about to get crazy and cheap prices like this will never be seen again once we retake 10k.

TLDR: Its happening.

[ivomm]

I didn't hesitate to buy with my saved salary above 10K, so now I am going to wait? No, thanks, I am directly buying. Hopefully my small 0.052BTC purchase at $7950 will trigger the next bull  run Next month I will have more fiat - like 1000$, and I will buy even if we are above 10K.

[HairyMaclairy]

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Not this again!