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Question: Is this the last time we see sub-$10K?
Yes - 38 (40.9%)
No - 55 (59.1%)
Total Voters: 93

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21530421 times)
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Majormax
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November 25, 2019, 10:08:13 AM

.....since about May, we are still confirmed to be in a bull market, so there could be some fireworks here that people interested in BTC would like to witness... and yeah we could go back down to a bear market, but probably we would need to get down into the sub $5ks and likely even below our April 1 breakout price of $4,200.. which could be a bit of a challenge to get there.  NOT impossible, but surely a challenge.

Agree with most of your points.

Just one question : How are we confirmed to be in a bull market ?   ( Empirical evidence) 

The shape of the chart looks to me like a rally in a bear market. It has that sort of shape, with the rises sharp, and the falls grinding and waterfall-like.

The shape was like a bull market up to June this year, but suddenly everything changed with that spike to 13500.
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JayJuanGee
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November 25, 2019, 10:09:46 AM
Merited by Majormax (1)

Why doesn't anyone talk about Snowden an his tweet, which probably caused the pump from 7.4k to 10.3k? That picture could be a signal that he wanted to say he is the ANON who predicted 16k by october 2019. And after october ended and didn't bring 16k it slowly dumped even lower than before.

What do you have to say about this?

correlation is not causation.  Roll Eyes
Majormax
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November 25, 2019, 10:17:19 AM

We are all attempting a brave technical analysis of the price, but I have to accept that it is difficult to put any real short term meaning into these charts.


The two camps of Technical vs Fundamental analysis are at odds with each other most of the time, as has always been the case with stocks and commodities trading.
JayJuanGee
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November 25, 2019, 10:22:27 AM
Merited by Majormax (1)

.....since about May, we are still confirmed to be in a bull market, so there could be some fireworks here that people interested in BTC would like to witness... and yeah we could go back down to a bear market, but probably we would need to get down into the sub $5ks and likely even below our April 1 breakout price of $4,200.. which could be a bit of a challenge to get there.  NOT impossible, but surely a challenge.

Agree with most of your points.

Just one question : How are we confirmed to be in a bull market ?   ( Empirical evidence) 

I will agree that not everyone is confirmed, but the move up from $4,200 and then staying above $6k for a decent amount of time in May confirmed tentatively the entering into a bull market, which has not been subsquently refuted by further market performance which would likely need to bring us quite a bit below $6k. and to stay there... of course, passage of time should be considered too, but part of the underlying presumption is that we do not bounce in and out of bull market, bear market, bull market so easily... and sure sometimes we might end up being in one or another but not able to really confirm what we are in for many months after we are already in it... 


 
The shape of the chart looks to me like a rally in a bear market.

Yes, we have differing conclusions.  Of course, with subsequent BTC price performance you could be correct, even that the rally to $13,880 did not bring us out of the bear market, we just had a bit of a fake out that lasted more than 7 months...blah blah blah... but I doubt that we are there, yet.

 
It has that sort of shape, with the rises sharp, and the falls grinding and waterfall-like.

The shape was like a bull market up to June this year, but suddenly everything changed with that spike to 13500.

Do you really believe that BTC bounces in and out of markets in less than year time frames?   Doesn't seem to be the case in bitcoin, at least currently.  You will concede that October 2015 to December 2017 was a bull market, and I will concede that January 2018 to December 2018 was a bear market.  So we agree on those time frames?  Accordingly, we are trying to figure out where we are at currently, and maybe you are correct to suggest that it is no longer unambiguously a bull market, but I would assert (like I already did) that we gotta get much lower to get removed from having had tentatively converted into a bull market as of May 2019... which would end up getting retrospectively labelled back to January-ish.. and of course, we can have some differences of opinions on those matters too... regarding relevant break out points or the foundational points from which we would like to measure.
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November 25, 2019, 10:33:14 AM
Merited by Majormax (1)

Excellent capitulation by the crowd in here. 5/7. 
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November 25, 2019, 10:45:06 AM

Excellent capitulation by the crowd in here. 5/7. 

Hopefully, yes. At least for a short term bottom.

What matters more is how the actual traders are responding. The only indicator of their state of mind is price and volume.
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November 25, 2019, 10:47:26 AM
Merited by JayJuanGee (1)

Hu guys! I have a big respect for all who post here!!! I am a new generation honey badger and learned a lot from you! I am contemplating to take a bank loan equal to 2 year salary. My bank has some good  5 year credits (about 12% interest for the whole period). Even if the price falls to the 3100 bottom, it will recover soon, I have no worries about that. This is probably the last chance to increase my stash with several whole coins before the halving.

P.S. My friends who were afraid to buy at 3100 earlier this year, are now planning to invest serously. Bull sign that good times are ahead!



Fortune favours the bold my friend. But, if your are going to do something like that make sure you can afford a 100% loss. It's not just the price going down. Exchanges can be hacked (lose coins if kept there), private keys can be misplaced, hardware wallets can be lost, 24 word seeds written down could be found by others.

So if you are going to take a loan, make sure that all your bases are covered first.

Good luck!
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November 25, 2019, 10:48:31 AM
Last edit: November 25, 2019, 11:02:28 AM by bitebits

Just stacked some Sats (am I doing this right?). Could not resist. Holdings at another ATH, which is easy when never sold any or attempt ‘storing’ them on an exchange.

All this fuzz about price fluctuations. How come this is still surprising after an almost 11 year track record doing so?
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November 25, 2019, 10:51:37 AM
Merited by Majormax (1)

Excellent capitulation by the crowd in here. 5/7. 

Are you suggesting me?

If we go below a certain price and stay there, then I might conclude that we are no longer in a bull market... but we still seem quite a way off from that kind of concession from me.

Or are you referring to the capitulation of some other WO peeps?

I saw several of the regulars such as LFC and Mindrust saying that they are buying, biodom no longer blurting out bearish baloney and instead a bit more ambivalent and maybe d-eddie saying that he had failed to short sufficiently... and even bob has not really been complaining too much, in this correction.  Sure V8 has some end of life chantings, but he's been doing that for quite a while, too... By the way, Lambie had been calling for a correction ever since about May when we went above $6k or so, so I am not sure if he would count for anything merely because he is getting cocky and acting like he was right all along while conveniently ignoring the fact that he had been calling for down since about May-ish. 

Anyhow, I am a bit unclear from where you are getting our capitulation because we are all over the place.. even while maybe a bit resolved that we had reached close to 65% down from our $13,880.  What else can be done?
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November 25, 2019, 10:56:13 AM

^
F*** Y** JJG what about me, what am I doing ?  Kiss  Tongue

Will give a hindsight me is HODLing as always, HODL through every singel bump that our precious narrative writes us   Cheesy
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November 25, 2019, 10:57:08 AM
Merited by JayJuanGee (1)

Excellent capitulation by the crowd in here. 5/7. 


Anyhow, I am a bit unclear from where you are getting our capitulation because we are all over the place.. even while maybe a bit resolved that we had reached close to 65% down from our $13,880.  What else can be done?

Looking back at the last 5 pages, that's true, a very split opinion.  The poll results show that as well.

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November 25, 2019, 11:00:21 AM

This is fine.
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November 25, 2019, 11:00:42 AM

Someone woke up and started to abuse the buy button.
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November 25, 2019, 11:03:45 AM
Last edit: November 25, 2019, 11:28:08 AM by dragonvslinux

I think we're done here. It's taken more than two months, but the original bearish target looks complete, at least by a margin or error being $116.



Now we just need a strong bounce back above $7400-$7500 and we're good in my opinion  Cool
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November 25, 2019, 11:08:56 AM

Personally, I suspect that it is not easy to see s-curve adoption while in the midst of it, but jeez, just mentioning the $300 to $500 price range was about where we were bouncing around during early 2016 - right before that particular halvening.

Couldn't between a 13x ($500) and 22x ($300) price increase from our current $6,600 in 4 years serve as a kind of ballpark indication that we might possibly remain within a kind of s-curve adoption?  Perhaps?  Perhaps?

Even a 10 x appreciation from here would put us at an amazing figure JJG.
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November 25, 2019, 11:27:42 AM

Excellent capitulation by the crowd in here. 5/7.  


Anyhow, I am a bit unclear from where you are getting our capitulation because we are all over the place.. even while maybe a bit resolved that we had reached close to 65% down from our $13,880.  What else can be done?

Looking back at the last 5 pages, that's true, a very split opinion.  The poll results show that as well.



The vibe I have been getting is strongly sookie la la.  Exhibit A is SuperTA directly above me. Which is a good sign.  

It feels a bit early for us to rally back from here but we might possibly have front run the Thanksgiving funk this year.  I still think more likely a few days of pain left but let’s see. 
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November 25, 2019, 11:40:07 AM

Good Panicking morning WO!
Or WO Bitcoiners do not panic at all?
Observing @ $6,849
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November 25, 2019, 11:49:00 AM

Good Panicking morning WO!
Or WO Bitcoiners do not panic at all?
Observing @ $6,849

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November 25, 2019, 11:54:19 AM

The real test now (and also arguably the biggest test of BTC's life) will be the halvening.  If the price does not show very considerable strength in the next year, that would be a sign that the whole game has changed.

Unfortunately, the outcome will take around a year to define . As always, it will be a test of faith, so doubters should sell now (although better during the expected bounce to 7.5k) , and hodlers should find some other diversion for their interest !

This is the scenario I fear. It may be possible that the halvening is priced in already and, although prices below 3k are unlikely, there will be no new ATH until the next halvening (one in 2024). Five years of ice age, pain and false hopes. Personally I do not plan to sell my main stash, but I am thinking about trading (that is, about buying a bit lower and selling a bit higher, not accumulating), because holding may be a very long-term game.
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November 25, 2019, 11:56:40 AM

Masterluc on telegram
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We have the weekly ma200 at 4000. I think after a rebound we can still visit it. Well, that fits into the picture above.
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