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

[LUCKMCFLY]

An interesting analysis following the Wyckoff methodology.

$BTC - Wyckoff like scenario - just throwing this out there...

Very early to determine whether this is at all accumulation - it can easily breakdown on a retest of the lows again.

Volume profile switched off - you can reference that yourself

Will keep this thread updated

Source: https://twitter.com/TraderX0X0/status/1209110952148393984

A good article of this vision: https://www.newsbtc.com/2019/12/25/wyckoff-bitcoin-bottom-in-price-poised-break-past-8000/

[Arriemoller]

Here's my favourite Christmas video, It's called early morning Christmas mass 1937. It's just so Christmasy

https://youtu.be/5ZCmh8wYbsU

The tinnitus the guy ringing the bell must have.

[dragonvslinux]

An interesting analysis following the Wyckoff methodology.

$BTC - Wyckoff like scenario - just throwing this out there...

Very early to determine whether this is at all accumulation - it can easily breakdown on a retest of the lows again.

Volume profile switched off - you can reference that yourself

Will keep this thread updated

Source: https://twitter.com/TraderX0X0/status/1209110952148393984

A good article of this vision: https://www.newsbtc.com/2019/12/25/wyckoff-bitcoin-bottom-in-price-poised-break-past-8000/

Nice outlook, I'm also thinking this is more a possibility right now. It'll take a bit of time and confirmation for me to be convinced, but it's more than possible by looks of it.

[d_eddie]

"The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more." -- Satoshi Nakamoto

Yeah, right, show me any currency that "gravitate toward the production cost".

A currency is generally backed by a police force and an army, so it doesn't match the definition for a commodity.

The bolivar disagrees.

And it's approaching its production cost indeed.

[Last of the V8s]

[Arriemoller]

"The price of any commodity tends to gravitate toward the production cost. If the price is below cost, then production slows down. If the price is above cost, profit can be made by generating and selling more." -- Satoshi Nakamoto

Yeah, right, show me any currency that "gravitate toward the production cost".

A currency is generally backed by a police force and an army, so it doesn't match the definition for a commodity.

The bolivar disagrees.

And it's approaching its production cost indeed.

Pretty sure it's way below it's production cost. 

[STT]

The bolivar disagrees.

If we measured the total monetary base not the exchange rate or value per note and also included just how poorly backed the value is by any economic activity or future trend in productivity it might be clear they back their paper by military force.    I think USSR had similar problems, on open pricing or black market real money used was dollars or other alternatives but in theory their ruble had giant worth while backed by bullets.   I doubt its very effective beyond the range of their guns (opposite to BTC no force to back but somehow global) ; it shouldn't exist beyond wallpaper at this point so its kinda impressive.    Instead of pinning a banana to a wall they should cover the arthouse wall in the failed paper of totalitarian regimes.


2018 pricing, flashback for christmas.  Quite often closing weekly price was 7300,   Its entirely messy but to me I think there is relevance in contrast, I took it from old bitcoinwisdom which stumbles on somehow like the Mary Celeste and it gives the live price..


Xmas pricing, UTC.  Highs are 2 day average, lows are previous trend top since July

[d_eddie]

Even after pimping up - or vandalising in your own words - the place can't beat some of your earlier buen retiro locations.

[LUCKMCFLY]

Less and less for halving ..

Were these halvings priced in?

Source: https://twitter.com/Bitcoin/status/1209521632261398528

[gentlemand]

Even after pimping up - or vandalising in your own words - the place can't beat some of your earlier buen retiro locations.

Hey, it's the season of goodwill to all whatevers so I deserve a bit of luxury.

I have some truly heartbreaking holiday destinations lined up for next year. You'll be the first to know.

[sirazimuth]

Nothing worse than sitting around the xmas dinner table with the in-laws and having nothing to chat about where everyone is either dis-interested or bored with the conversation.
(ground rules...no devices allowed...understood?)
Oh dear ...what a sterile affair.
Hmmm..... should I bring up bitcoin?...definitely not... big no-no amongst no coiners. (amongst anyone for that matter, unless they bring it up 1st)
OK, how about what's new at work? Fuhgeddaboudit...CNC talk amongst normal folk?  BORING.
Ah.... how about talking about the kids?.... Naaaah, no new parents here so that's all "been there, done that, got the teeshirt" stuff.

Hmmm..... lets see... I got cats...in-laws are doggie people...Ahha, I got it...how about PET TALK...   BINGO.

Cat stories ,doggie stories, drinking wine and laughs...all good.   LOL, Merry Xmas...

it was a fanny

Um...could you elaborate? Something went whoosh...

[HI-TEC99]

Nothing worse than sitting around the xmas dinner table with the in laws and having nothing to chat about where everyone is either dis-interested or bored with the conversation.
(ground rules...no devices allowed...understood?)
Oh dear ...what a sterile affair.
Hmmm..... should I bring up bitcoin?...definitely not... big no-no amongst no coiners. (amongst anyone for that matter, unless they bring it up 1st)
OK, how about what's new at work? Fuhgeddaboudit...CNC talk amongst normal folk?  BORING.
Ah.... how about talking about the kids?.... Naaaah, no new parents here so that's all "been there, done that, got the teeshirt" stuff.

Hmmm..... lets see... I got cats...in-laws are doggie people...Ahha, I got it...how about PET TALK...   BINGO.

Cat stories ,doggie stories, drinking wine and laughs...all good.   LOL, Merry Xmas...

Next year you could tell her side of the family you are spending Christmas with your side of the family, then tell your side of the family you are spending Christmas with her side of the family.

That way you wouldn't have to struggle to find a topic of conversation suitable for the family xmas dinner table.

[jojo69]

Heartfelt eulogy to Chuck Peddle, father of the 6502, up on Hackaday today is well worth a read.

https://hackaday.com/2019/12/25/honoring-chuck-peddle-father-of-the-6502-and-the-chips-that-went-with-it/

If you are into this, do not neglect the comments.

[HI-TEC99]

Even after pimping up - or vandalising in your own words - the place can't beat some of your earlier buen retiro locations.

Hey, it's the season of goodwill to all whatevers so I deserve a bit of luxury.

I have some truly heartbreaking holiday destinations lined up for next year. You'll be the first to know.

How about a holiday park in Blackpool next year?

[gentlemand]

How about a holiday park in Blackpool next year?

Amateur hour.

Brean Pontins is where I'm headed - https://www.tripadvisor.co.uk/ShowUserReviews-g666384-d664583-r734218527-Pontins_Brean_Sands_Holiday_Park-Burnham_On_Sea_Somerset_England.html

[HI-TEC99]

How about a holiday park in Blackpool next year?

Amateur hour.

Brean Pontins is where I'm headed - https://www.tripadvisor.co.uk/ShowUserReviews-g666384-d664583-r734218527-Pontins_Brean_Sands_Holiday_Park-Burnham_On_Sea_Somerset_England.html

Reminds me of a unisex public toilet I once used. There was period blood on the seat, and the floor was covered in poo and urine.

[sirazimuth]

How about a holiday park in Blackpool next year?

Amateur hour.

Brean Pontins is where I'm headed - https://www.tripadvisor.co.uk/ShowUserReviews-g666384-d664583-r734218527-Pontins_Brean_Sands_Holiday_Park-Burnham_On_Sea_Somerset_England.html

Review reads like it was written by a lager lout after he got kicked out ten pints later, for getting utterly pissed up and disorderly.....just sayin...

[xhomerx10]

How about a holiday park in Blackpool next year?

Amateur hour.

Brean Pontins is where I'm headed - https://www.tripadvisor.co.uk/ShowUserReviews-g666384-d664583-r734218527-Pontins_Brean_Sands_Holiday_Park-Burnham_On_Sea_Somerset_England.html

Reminds me of a unisex public toilet I once used. There was period blood on the seat, and the floor was covered in poo and urine.

 Sounds like it was from the Dada and Surrealism period; possibly a Salvador Dalí.  Tell me, did it look like this:

?

[HI-TEC99]

How about a holiday park in Blackpool next year?

Amateur hour.

Brean Pontins is where I'm headed - https://www.tripadvisor.co.uk/ShowUserReviews-g666384-d664583-r734218527-Pontins_Brean_Sands_Holiday_Park-Burnham_On_Sea_Somerset_England.html

Reminds me of a unisex public toilet I once used. There was period blood on the seat, and the floor was covered in poo and urine.

 Sounds like it was from the Dada and Surrealism period; possibly a Salvador Dalí.  Tell me, did it look like this:

?

Yes.

They should have sold it for the same price the banana taped to the wall went for.

[Icygreen]

Nothing worse than sitting around the xmas dinner table with the in-laws and having nothing to chat about where everyone is either dis-interested or bored with the conversation.
(ground rules...no devices allowed...understood?)
Oh dear ...what a sterile affair.
Hmmm..... should I bring up bitcoin?...definitely not... big no-no amongst no coiners. (amongst anyone for that matter, unless they bring it up 1st)
OK, how about what's new at work? Fuhgeddaboudit...CNC talk amongst normal folk?  BORING.
Ah.... how about talking about the kids?.... Naaaah, no new parents here so that's all "been there, done that, got the teeshirt" stuff.

Hmmm..... lets see... I got cats...in-laws are doggie people...Ahha, I got it...how about PET TALK...   BINGO.

Cat stories ,doggie stories, drinking wine and laughs...all good.   LOL, Merry Xmas...

it was a fanny

Um...could you elaborate? Something went whoosh...

I've found the best avoidance to this scenario is a planned vacation far away from everyone over the holidays. Just simply call the ones you need to on Christmas and claim you'd like to be there but distance and such. Has worked out really well for me the past decade plus more meaningful conversations tend to happen over the phone.
If that's not an option, there's always drugs.