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

[LFC_Bitcoin]

100k=minimum. 400k=aspiration.

[machasm]

Oh the irony

https://mysticpost.com/2020/03/coronavirus-the-healing-sanctuary-of-lourdes-closes-the-pools-to-the-faithful-for-fear-of-contagion/

[HairyMaclairy]

Yes holy water being drained in churches too

WHERE IS YOUR GOD NOW?

[Gyrsur]

WHERE IS YOUR GOD NOW?

which one? Names pls.

[OutOfMemory]

WHERE IS YOUR GOD NOW?

which one? Names pls.

JHW of course, ya noob  

Choose between these two possible translations:

JEHOWA = "He, who is"

JAHWE = "All there is"

A tip from the school of Yedi:

Choose wisely, young padawan.

A tip from me:
The original wiseasses of the church made the wrong choice.

Other than this, after zooming a little, this looks like a clean, round bottom to me (insert perfrect female butt pic here).

[dragonvslinux]

Starting to see a rounding bottom half formed on the 4hr. The green arrow is where the pivot is could be based, the golden line would be the trajectory to hold to confirm:



Looking at the longer-term time-frames, the Weekly is finding support at key support, the Daily is losing bearish momentum:

[/charts]

BTFD & HODL

[bitebits]

Been thinking about it a bit more. Bitcoin does not produce anything. There is no dependency on any supply chain being functional or not. Dumping your precious bitcoins like a company stock because of a non computer virus makes absolutely no sense. It is an irrational decision unless your purpose is to try an buy them back cheaper, and we all know how that worked out over the last 10+ years for Joe Average.

The problem is that a fair amount of BTC is owned or at least manipulated by Wall Street and large institutions like Bakkt and the CME. Wall Street views bitcoin has an extremely high risk asset, meaning it is the first asset to get sold off whenever there is a panic of sorts. Only after Wall Street has minimized its involvement with BTC and regular folks feel comfortable with their amount of fiat money will BTC's price begin to stabilize.

Sorry to be the bearer of bad news, but that's what I believe.

And that is where sellers of any size are wrong.

First volatility != risk. Retail investors often act emotional (the human monkey brain has a hard time dealing with ‘losing’) but institutions/algorithms know better. Bitcoin until today is volatile in only one direction: up. It is therefore more likely institutions involved in Bitcoin are selling to compensate for their recent losses in stocks, which is probably why gold went down as well after its multi year high: profit taking.

Second Bitcoin is an uncorrelated asset. It does not care about China, the stock market, covid-19, or even bitebits posting in the WO. Selling bitcoins for any other reason than permanently getting out is stupidity and you will get burnt, whether you are Wall Street or Joe Average.

The <=2015 days when Bitcoin actually was a risky investment are long gone. To those who did I salute you.

Volatility absolutely equals risk. That's what makes risky asset categories risky. High risk, high reward. If an asset simply rises, that's not volatility -- that's stability. However, bitcoin doesn't do that. Previous to cryptocurrency, Wall Street's highest risk asset category was emerging markets, for the exact same reason: they are highly volatile.

Traditionally, there has been zero correlation between BTC in the stock market; however, the stock market has been in a bull run for almost the entirety of bitcoin's existence, and Wall Street only started really getting into bitcoin in the last couple years. We have yet to see how bitcoin will react to a bear stock market.

I think you got things backwards. A high risk investment it is often volatile, price volatility however does not equal risk. Bitcoin is the most stable thing around, 99.9+% uptime. Selling bitcoin because it exists in an unstable world makes no sense to me. It is like selling my paid off house because of a virus or stock market decline, the two are completely unrelated.

Agree interesting how Bitcoin plays out over the next decade or two. I will be around.

[Gyrsur]

WHERE IS YOUR GOD NOW?

which one? Names pls.

JHW of course, ya noob  

it says:

יהוה

Dude!  

https://en.wikipedia.org/wiki/Tetragrammaton

[OutOfMemory]

WHERE IS YOUR GOD NOW?

which one? Names pls.

JHW of course, ya noob  

it says:

יהוה

Dude!  

https://en.wikipedia.org/wiki/Tetragrammaton

Of course, i presented kind of a modernised representation. Didn't want to throw full hardcore at you, but i see i can't add anything of value for you now.
"I am that i am" is also the far better translation, forgive my sloppiness. 

[dragonvslinux]

Starting to see a rounding bottom half formed on the 4hr. The green arrow is where the pivot is could be based, the golden line would be the trajectory to hold to confirm:

Some more hopium for the day looking at the 1 hr...



Ideally; test 200 Day MA today & get rejected, find support from rounding bottom support, break above 200 Day MA, find support again from it/rounding bottom, move up higher  

[Gyrsur]

WHERE IS YOUR GOD NOW?

which one? Names pls.

JHW of course, ya noob  

it says:

יהוה

Dude!  

https://en.wikipedia.org/wiki/Tetragrammaton

Of course, i presented kind of a modernised representation. Didn't want to throw full hardcore at you, but i see i can't add anything of value for you now.
"I am that i am" is also the far better translation, forgive my sloppiness. 

Peace be with you.  #nohomo

OoM (Out of Merit) btw.

[AlcoHoDL]

Dedicated to all WO electro-synth fans:

Jean-Michel Jarre - Oxygene, Pt. 17

Getting in the mood for what's coming...

[Lambie Slayer]

70 days till the Halvening and all is well. 

[Ibian]

WHERE IS YOUR GOD NOW?

which one? Names pls.

Quetzalcoatl.

[Lambie Slayer]

https://english.kyodonews.net/news/2020/03/e7034474aaa6-breaking-news-boj-vows-to-take-market-stabilization-steps-amid-virus-outbreak.html


Bank of Japan Governor Haruhiko Kuroda pledged Monday that the central bank will make every effort to ensure stability in financial markets that have been roiled as the new coronavirus spreads worldwide.

Issuing an emergency statement, Kuroda said the BOJ "will closely monitor future developments, and will strive to provide ample liquidity and ensure stability in financial markets through appropriate market operations and asset purchases."

The move comes amid expectations that the world's major central banks will prepare a joint assault on the excessive volatility seen recently in stock and other markets, with the U.S. Federal Reserve issuing a similar statement last week that signaled its willingness to cut interest rates to support the economy."

More money printing=Bullish


Update:

WOHO, Wall Observer Health Organization has officially named the novel virus, COVBULL-19. Their task force is currently researching all bullish implications and alerting the public that the situation has escalated to highly bullish. They recommend to frequently buy Bitcoin several times a day, especially after using the bathroom and before eating.

WOHO released this statement today:

"Bears should be isolated and monitored to prevent self harm in the event of giant green dildos.  Hodlers should be prepared for the possibility of COVBULL-19 panic buying outbreaks in their community with the halvening approaching.  In the event of panic buying, its important to remain calm and not sell under any circumstances.

Individuals can practice everyday accumulation measures like frequent Satoshi Stacking, DCA, and of course going all in. Click below to learn about steps to take before, during, and after any community spread of COVBULL-19."

https://hodl.com/

[Last of the V8s]

https://twitter.com/Coronavirus_Guy/status/1234204006810935301
tl;dr carnivores are 100% immune to the pox /jk

https://twitter.com/willripleyCNN/status/1234235826092961794
Korea is expelling witnesses. Further atrocities incoming /no joke

[Phil_S]

[Lucius]

In the meantime, nothing new in the stock market - they lost only $5 trillion so far, but BTC is still ponzy, scam, mlm.

https://gulfnews.com/business/5-trillion-lost-in-global-stock-markets-melt-on-coronavirus-fears-1.70046024


Source

[birr]

I can think of a couple sacred places I'd like to lick.

I went to an alleyway on the outskirts of Rome and paid off a member of the Swiss Guard for a ten minute play with this.



I could taste some thrush, a hint of swarfega and a whole lot of crystal meth so I'm pretty goddamn confident it was pulled straight off the pope in his sleep.

On Via Maddalena in Genoa last year, the going price for hookers was 30 Euro.  I found one who was built like a brick shithouse and was wearing crotchless panties.  A real butterface.

[LFC_Bitcoin]

On Via Maddalena in Genoa last year, the going price for hookers was 30 Euro.  I found one who was built like a brick shithouse and was wearing crotchless panties.  A real butterface.