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

[somac.]

The fear is real! Corona eating us and the markets alive!  Hard time to buy RN   but happy for the discount.
RSI below 30 on daily and just over 30 hourly.  Observing $74xx
Floor around $6500 I presume.  

I'm thinking the same.

Edit: observing 7300s, damn panic sellers

[mindrust]

$7395 foooark. Flashing another $10k @ $6500.

[JSRAW]

- Actor Tom Hanks says he and his wife have tested positive for coronavirus.

Don't want to make fun of this situation but dude is survivor.
  
1994- Vietnam war
2000- Island
2013- Pirates
2016- Plane-landing in River

[El duderino_]

Strange times to live in and be a part of....

[somac.]

$7395 foooark. Flashing another $10k @ $6500.

10k is my entry. finishes the H&S and matches up with a few other indicators

[OutOfMemory]

good morning.
next 35 mins are critical.
observing $7417

EDIT:

[JayJuanGee]

Now:  "bring back the real nutildah... I insist!!!!!!!!   "

 

I've been saying the same thing for years, so consider STFU, JJG. It is Thursday, after all...

If there is a panic on Wall Street, crypto will be the first to feel the effects as it is the highest risk category of high risk investments. This is due to institutional money now being firmly entangled in the crypto market, even if its just mainly bitcoin.

You actually merited this post, JJG:

A new recession will be the true test of bitcoin's market resilience. It will also determine what % of the market cap is currently propped up by Wall Street. As bitcoin is the highest risk of the high risk investment class (actually altcoins are the very highest), a recession will see a sell-off of institution-owned BTC.

If BTC can then establish itself as a "safe haven" investment after the outflow of institutional money, then yeah, sky's the limit.

Though I don't prefer to be the bringer of negativity, bitcoin is among the highest of the high-risk investment category. If there's a market sell-off, BTC, now inexorably tied with Wall Street, will be one of the first assets to suffer a major sell-off, as big-time investors (however ironically) plow their money into cash.
...
The case for BTC being some sort of alternative store of value to the dollar just isn't there yet, IMHO. Speculators have to get out first, which as we all know, isn't happening any time soon.

I agree we don't know how it will work exactly, but my hunch is a recession will drag it down since it is seen as an "extremely high risk" investment. This is the category of investment most likely to tank first in a stock market crash. For the longest time there was no correlation between BTC and stock market movement but that began to change last year when Wall Street started moving in.

Bitcoin only has the potential to be a safe haven investment compared to the dollar if in response to a new crash the feds begin a new game of QE that makes the last one look like Little League. Otherwise the dollar is the go-to investment during a recession.

Fair enough.. that you might be the same consistent nagging nabobs of negativism.

I am going to hold off on sending any additional smerits, for now, since you are kind of being annoying, currently.     

[Icygreen]

Mempool is empty currently, it fills and empties rhythmically over the last week. Thinking this isn't panic selling, just shakeouts.
Bought a small bit and it confirmed in about 1 minute.
https://jochen-hoenicke.de/queue/#0,1w

[JayJuanGee]

Cmon am I the only one who thinks this Corona is some invention of evil forces to justify the coming crash/financial crisis? Now it's so easy for the blameworthy to point their fingers to the Virus. It's all such a huge sad joke. They kill people just to save their asses! And the 99.9% still sleeps and watches what these super elite does to humanity. Insane!

NO you are not as unique as you attempt to present yourself.

There are others with similar skeptical theories... maybe not exactly the same, but similar...   Don't try to assert that you are the first person who has ever argued that there is a bit of either conspiracy going on or st minimum the taking advantage of a crisis by elites in order to exploit and marginalize the public in various ways, including that costs tend to be more borne by the public, and the rich always figure out ways to make money off the backs of the plebs.

[El duderino_]

Give us volatility, just in the other direction.... only fools are selling now imo

[Paashaas]

- Actor Tom Hanks says he and his wife have tested positive for coronavirus.

Don't want to make fun of this situation but dude is survivor.
  
1994- Vietnam war
2000- Island
2013- Pirates
2016- Plane-landing in River

You forgot Cast Away

[JayJuanGee]

Give us volatility, just in the other direction.... only fools are selling now imo

My next buy orders are at about $7,200 and thereafter every $200.  I would prefer that they do not fill... but whatever, I will take more corn, even if unwillingly.. Can't really control, but at least testing down to $7k and maybe even getting down to test $6,424 is seeming quite reasonable, too, given the current momentum and even given that I would prefer that those price moves do not happen.

[JSRAW]

- Actor Tom Hanks says he and his wife have tested positive for coronavirus.

Don't want to make fun of this situation but dude is survivor.
  
1994- Vietnam war
2000- Island
2013- Pirates
2016- Plane-landing in River

You forgot Cast Away

2000 - Cast Away ( Island) 

[nutildah]

Fair enough.. that you might be the same consistent nagging nabobs of negativism.

I am going to hold off on sending any additional smerits, for now, since you are kind of being annoying, currently.      

I don't consider maintaining a consistent viewpoint to be "negativism" -- its just not in line with your own.

I can learn to live with your punishment, and reserve an open-mindedness in meriting your posts if for some reason the situation should arise.

[somac.]

- Actor Tom Hanks says he and his wife have tested positive for coronavirus.

Don't want to make fun of this situation but dude is survivor.
  
1994- Vietnam war
2000- Island
2013- Pirates
2016- Plane-landing in River

You forgot Cast Away

You know what he didn't survive though, a virus in the movie Philadelphia.

[OutOfMemory]

Guys, if the fifth consecutive RED weekly candle ends up below $7.5k, i think this might get pretty ugly.
So far on the last few occasions, after four or five red weekly candles the corn was reaching a local bottom. But there are quite some days to go  

EDIT: At the time it looks tempting to park some of my stash in dollars and buy back in lower. Trumpster Dumpster may make this work out for me.
PlusToken dumps confirmed? anybody knows something? there are $100M dump rumor-tweets that say it's

based on chain analysis

.

[rolling]

You can keep coiling the spring but eventually it will let loose. Stock to flow implied value is currently $10k and will be $100k in less than two months! Crazy to be selling now, everyone thinks they can pile back in but there will be no time.

[Phil_S]

OK, that's quite enough. Now let's go up up up!

[mindrust]

You can keep coiling the spring but eventually it will let loose. Stock to flow implied value is currently $10k and will be $100k in less than two months! Crazy to be selling now, everyone thinks they can pile back in but there will be no time.

I am sure nobody here is considering selling from these low ass prices.

It is all about buying from which price point and how much.

[OutOfMemory]

You can keep coiling the spring but eventually it will let loose. Stock to flow implied value is currently $10k and will be $100k in less than two months! Crazy to be selling now, everyone thinks they can pile back in but there will be no time.

I am sure nobody here is considering selling from these low ass prices.

It is all about buying from which price point and how much.

Still about x3.5 for me at these levels. More buying fiat takes about two weeks to arrive at my banking account.
Just thinking.