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

[VB1001]

It is my pleasure and honor to give you your 2000th Merit 

It would be better if they were 2000+2000 activity.

Thanks!

[Krubster]

Masterluc/PentarhUdi just commmented his latest TA.

In a case of new higher high (higher than 13 Feb 2020 ~ $10500) any bearish scenario will be invalidated.

https://www.tradingview.com/chart/BTCUSD/iNSP9waV-Historical-IV-almost-completed/

[JayJuanGee]

It is my pleasure and honor to give you your 2000th Merit 

It would be better if they were 2000+2000 activity.

Thanks!

Gotta keep you in your place (and a humble bumble) somehow.....     


 

Thanks, theymos.   

[lightfoot]

This is a food distribution center (bread line) in Las Vegas.



I have to note that every single car there is much nicer and newer than anything I own.

Hm.

[JayJuanGee]

We are now at 80 RSI on the daily.  Overbought.  

I just looked at a chart with the daily RSI between April 2019 and June 2019...

Remember that time period?  The BTC price went from $4,200 to $13,880, yet the RSI had largely stayed in relatively high levels, and reaching levels that are very similar to current levels throughout that whole April to June 2019 period.  

So, even if we might possibly be a wee bit overheated currently in terms of daily RSI, I doubt that the we could be getting that possible "overheatedness" merely from the daily RSI...  There would have to be some other factors, too... like for example, some people do not want us to go above $10k?  or maybe there is too much bullshit going on with other macro-economic figuring out how to deal with the virus and other related shenanigans, etc.

  But what is stopping us from pretty much just going straight to $17,250 in the coming weeks and bouncing around in that area for a few weeks and figuring out if BTC prices are ready to continue to go up?  I really have hard times thinking that BTC is ready to start challenging ATHs in the current environment, but there is no real need that BTC has to go down before it goes up... remember we have been bouncing around in sub $10k prices for a couple of years.. so it is quite possible that support is largely catching up... even if there is no real need to shoot up from here either.. except maybe the bullishness of the money printer go bbbbbbrrrrr dynamics which seem to be quite opposite of bitcoin's money policy and more people seem to be internalizing those differentiating ideas... bullish, no?  Maybe?  Any rich people wondering where they might prefer to place parts of their capital and still be mobile and secure?  Where you going to put your Billion?  How much do you want wrapped up in various dollar (and oil) denominations?

I am not saying anything about having to go anywhere.. but even rich people may be wondering about how to diversify out of some traditional asset class risks, perhaps?  And, they might not give too many shits about what the RSI says, including the fact that they could be a market mover on their own, if they were to chose to do that.

[Biodom]

This is a food distribution center (bread line) in Las Vegas.

https://arc-anglerfish-washpost-prod-washpost.s3.amazonaws.com/public/UNIIHBEQUAI6VEZCUKPHL374SM.jpg

I have to note that every single car there is much nicer and newer than anything I own.

Hm.

Well, at least they are helping to stabilize the oil price...
To take a car to a line to get $5 in bread is actually a bit strange.
Some people just like freebies, I guess.
One time when I volunteered at a food bank, I saw a couple of guys in Mercedez coming by and getting a box (with food items).

[STT]

To be fair they could be passing that supply onto people who cannot leave their house, elderly relatives or something.    Lexus is one of the finest brand cars, thats like Japanese Cadillac so yea   Love Volvo and Jeep also, even Police cutting in :p


The ironic thing with that big sell off is I got a merit for pointing out that in the extremes the best source would be to look at people who've seen it all happen before; big peaks then sells after is not news very long term.  The giant swings is not a new phenomena and I think I mentioned this thread for gauge of sentiment, ie. not outright panic just observation etc.    But yea unfortunately theres the theory and the practise and the volatility is bonkers and can force anyones hand, theres definite worth in experience.
     Theres often shenanigans around 10k I reckon, both false expectations in either direction and we'll test and trick shorts and longs especially on leverage before choosing a direction and I'd guess that occurs mostly after the half reward event as that kinda pins us till then.

Dollar index fell quite consistently for most of 2017 and we had a good year for BTC but it looks that DXY has recovered back to similar levels and not put too much pressure on BTC.  DXY is of course in reference to other FIAT standards.

[Last of the V8s]

https://twitter.com/DrEricDing/status/1258413222039891968?s=20

Good morning. Since we dislike Murder Hornets for mass killing bees, hope this is satisfying if you are out of coffee.

[JayJuanGee]

Sorry you had to go Joe007 ! That 6800$ Bitcoin short was painful but I'm sure your still in the money...
Enjoy the ride playa  
https://cointelegraph.com/news/new-bull-market-signal-bitcoin-bearwhale-vanishes-as-btc-hits-10k

Hahahahaha

That's what you get when you try to play too BIG with kingdaddy... especially betting against it.

Good riddance... another bear reckt.. I am sure there will be quite a few more of them coming into the space, believing that they are smarter than everyone else, using traditional tools including ones that might be engaging in fractional reserves, just like there were a lot of the betting against bitcoin bears reckt in 2016 and 2017 - they had fewer tools back then, but doesn't mean that they are not going to get reckt when they try to tame the beast with their fancy new purported "bitcoin-taming" tools and bet the wrong way... the potential players are likely BIGGER... so they have to play with BIGGER amounts when they are "taming the beast" and getting reckt moar bigger.

[JSRAW]

[Toxic2040]

#WelcometotheHODLlifeBhai

+1 WOsMerit

[bitebits]

https://twitter.com/lawmaster/status/1258715460725506048

Nowhere close to (retail) fomo yet.

[Bitcoinaire]

We're currently  on our 8th green weekly candle. The last time was April-June 2019 and before that was September-November 2015, after we double bottomed off $200.

[JayJuanGee]

Could be worse. Could have panicked and pulled a mindrust, dumping your breeches near the bottom. ¯\_(ツ)_/¯

One of the arguments for incrementalism
....

So, even if any of us ends up panicking.....  which could happen.. not saying that it could not...  We should panic incrementally.. rather than fully.   


 

[JimboToronto]

Welcome back $10.000!

The road to $100.000 early retirement is on.

Have a nice weekend WO.

In the words of Prince Buster:

It's good to be wise when you're young
'cause you can only be young but the once
Enjoy yourself and have lots of fun
So glad and live life longer than you've ever done

Enjoy yourself, it's later than you think
Enjoy yourself, while you're still in the pink
The years go by, as quickly as you wink
Enjoy yourself, enjoy yourself, it's later than you think and have another drink.

[VB1001]

Gotta keep you in your place (and a humble bumble) somehow.....    


 

Thanks, theymos.  

Well, I will not deny it, I am happy, Hero Member 588 of activity and 2000 Merits, but I would be happier if I were Legendary, I am still a newbie.

(Excuse me, I can't understand what you mean by theymos)

[El duderino_]

Lucky Nr 777 on this page... 10K and more incoming ??

[serveria.com]

Masterluc/PentarhUdi just commmented his latest TA.

In a case of new higher high (higher than 13 Feb 2020 ~ $10500) any bearish scenario will be invalidated.

https://www.tradingview.com/chart/BTCUSD/iNSP9waV-Historical-IV-almost-completed/

Masterluc is getting even more ridiculous (if it's even possible). No shit, cap...    

[Wekkel]

Masterluc/PentarhUdi just commmented his latest TA.

In a case of new higher high (higher than 13 Feb 2020 ~ $10500) any bearish scenario will be invalidated.

https://www.tradingview.com/chart/BTCUSD/iNSP9waV-Historical-IV-almost-completed/

Masterluc is getting even more ridiculous (if it's even possible). No shit, cap...    

Just hedging his bets.

[LFC_Bitcoin]

Masterluc/PentarhUdi just commmented his latest TA.

In a case of new higher high (higher than 13 Feb 2020 ~ $10500) any bearish scenario will be invalidated.

https://www.tradingview.com/chart/BTCUSD/iNSP9waV-Historical-IV-almost-completed/

Masterluc is getting even more ridiculous (if it's even possible). No shit, cap...    

This is masterluc these days -



A broken clock is right twice a day
If you throw enough shit at a wall, some of it will stick