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

[lightfoot]

All of us in January when we learned about corona virus...

https://twitter.com/panama_tj/status/1236793863127347200?s=21

They're French ffs!
(pun intended)

When the avalanche has started
It is too late for the pebbles to vote

Old Babylon 5 quote.

[nutildah]

Its obviously God punishing sinners. Duh. 

I expect Bcashers and SV muppets to be among the highest rates of infected.

What also doesn't help is their extremely unsanitary proclivities:

[d_eddie]

Get paid to have coronavirus: Scientists will pay volunteers £3,500 to be infected in experiments to develop a vaccine.

https://www.dailymail.co.uk/news/article-8090761/amp/Get-PAID-coronavirus-Scientists-London-pay-volunteers-3-500-develop-vaccine.html?__twitter_impression=true

You could just pick 24 people that already have it and pay them...

They probably have to apply the vaccine before the subject is infected with the live strain.

[LFC_Bitcoin]

I thought we would have slipped under the fractal now. Good to see that we’re relatively where we should still?

[dragonvslinux]

Time to start getting greedy WO bull gang 



BTFD

[Last of the V8s]

[dragonvslinux]

Zooming into the short-term 1hr time-frame for all the panic sellers out there, the base of macro support at $7,800 is being defended by high volume.



The RSI is attempting to leave oversold conditions, while this does leave room to move lower, this is also considered a buy opportunity by price strength metrics (even if between 30 and 40 the RSI is still bearish). The MACD has notably bull-crossed a few hours ago, though yet to see any relevant follow through. CMF remains negative, though on each dip attempts to move back to neutral area with bullish divergence (due to increase in buy pressure), as opposed to moving lower (with an increase in selling pressure).

As far as I can tell, the "worst case scenario" is currently playing out, without much room for prices to move lower (based on oversold metrics alone):

If you're selling at these prices, based on the shorter-term price movements, you're doing it wrong 

BTFD

[MERlT]

Time to start getting greedy WO bull gang 



BTFD

 Dow Jones Crashes So Hard They Might Close the Stock Market https://www.ccn.com/dow-crashes-so-hard-might-close-stock-market/

[somac.]

It's funny, some of the stock markets have almost lost as much as bitcoin.

[Elwar]

https://twitter.com/realDonaldTrump/status/1236778368533700609

Trump dropped a big cryptic hint about an unstoppable surprise coming. This was tweeted right after the dow futures opened and tanked.

Most likely he is on the phone with the Plunge Protection Team and the Fed and there is some massive money printing on the way.

Anyone who thinks Trump isnt going to attack these market sell offs with everything at his disposal is underestimating his ego and desire to be elected again.

62 days to the Halvening and all fundamentals are well and bullish.  

Trump may still have the trader mentality and he sees this huge dip as a buying opportunity.

He also believes there needs to be money pumped into the economy to get things on track...

So...print money and buy cheap stock...he likely believes the virus is all hype so he believes the markets will bounce back (especially after pouring a bunch of printed money into the economy).

Result...billions in gains for the US government. Game over for Democrats.

In his mind at least.

Reality...he is trying to fight a bubble that popped.

[JSRAW]

so they are safe?

[Elwar]

So Amazon won't be docking pay for any warehouse worker that doesn't go to work this month.

https://www.cnbc.com/2020/03/09/amazon-adjusts-attendance-policy-for-warehouse-workers-amid-coronavirus-outbreak.html


There goes US shipping.

If you're an employee and your boss says you don't have to come to work...how likely are you to come in?

[Icygreen]

The debt market is currently the largest threat facing mankind with a potential correction to human life which could dwarf the fatalities of this virus by orders of magnitude. The real virus has gone completely unchecked at the FED since 2008.  Looks like we may skip the recession and head straight into depression.    
Am I over-reacting?

[Last of the V8s]

so they are safe?

Dunno mate, you may be scraping the bottom of the barrel there.

[dragonvslinux]

Bitcoin buy signal!

BNP Paribas just blocked transfers to Coinbase 
Co-operative Bank did the same at $6.5K 

[Ibian]

so they are safe?

The sun is a deadly laser. Can not wait for the tales of rectal cancer that will be coming.

[nutildah]

Stock market immediately fell -7% after opening, trading is now "paused."

PAUSED?

What kind of sissy market takes a pause??

"Oh, let's retreat to our safe space for a time-out and regroup with some positive thinking and herbal tea."

Bitcoin brakes for nobody!

[Hyperjacked]

Bloody Monday! Life in the fast lane... cool heads prevail !

[Torque]

The debt market is currently the largest threat facing mankind with a potential correction to human life which could dwarf the fatalities of this virus by orders of magnitude. The real virus has gone completely unchecked at the FED since 2008.  Looks like we may skip the recession and head straight into depression.    
Am I over-reacting?

You said it. The sheeple just refuse to listen or to believe it. The MSM pounds them for years that the U.S. economy is strong and has recovered.

O rly? Then how can a little virus outbreak suddenly cause complete economic breakdown?

Because the economy never was strong. It never returned to awesome like they hoped. It was fragile as hell ever since the Financial Crisis, just hanging by a thread. Money printing and market injection is/was the only thing keeping it going.

[bitserve]

UPDATE:



It has been a long time since this trend line was broken. It should be at or near the bottom before continuing the trend.