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

[El duderino_]

https://twitter.com/danheld/status/1269085942435819521?s=21

[1714180972]

1714180972

[1714180972]

1714180972

[1714180972]

1714180972

[HairyMaclairy]

You know what shits me about Bitcoin ?

It goes up fast and then slowly falls.

We spend 90% of the time falling in price.

Bear take the stairs. Bulls take a rocket.

[Phil_S]

Yeah, and sometimes we're slowly gaining for a week, just to lose all those gains in 15 minutes.

Depends on the season.

[serveria.com]

Here is a homeless man in a wheelchair.  

He was not participating in the demonstration.  He was just there.

However the LAPD have decided to shoot him in the face with a rubber bullet at close range.

This is not a nice thing to do.  This is not what normal police officers do.  As one police chief explains:

According to the Trace, the Minneapolis Police Department’s use-of-force policy strongly advises against pointing 40 mm launchers — which are used to deploy rubber bullets, beanbag rounds, and sponge rounds — above a person’s lower extremities. The policy also acknowledges that the projectiles can cause “grievous” injuries, and in some cases, death. Rubber bullets should be used only to control “an extremely dangerous crowd,” Brian Higgins, a former police chief, told Kaiser Health News.

Bonus picture. A 15 girl is sitting on the ground blinded by pepper spray.  So a cop casually walks up to her and kicks her in the face.  



https://twitter.com/jeffshafer/status/1268684973604814857?s=21

Some of you may consider the cop to be a hero for kicking a seated girl in the face. I don’t.  

The Police in the US is the opposite of serving and to protecting the ordinary people, but it is not a wonder or coincidence, that the US is always using force to protect their interests. Despite that, i do not really see a correlation and causality for the guy in the wheelchair or the girl on the ground to be blindly involved and hit by force, but that seems to be a educational problem in the US in general. The only ones that should be protected are those victims, aka ordinary people, from the police in the US  

[VB1001]

Boston Dynamics, analog model (among other things)

[Phil_S]

 

[HairyMaclairy]

Any cunt that can teach a robot to roller skate is pretty cool by me

[hv_]

 

His board kicked him out ?

 

[dragonvslinux]

Haven't been online much recently, did I miss much here?
Hi again to fellow hat wearers out there  

Price went up, then it went down and then it went back up again.

It's only been a couple of months, I remember the drop, looks like price has moved up nicely from the $7K area where I thought it would pull-back  
Hopefully I've come back in time to try and pick out the short-term top of this nice rally But likelihood is I'll be wrong again  

Surely, as you have suggested, nothing can be taken for granted in bitcoin.

Many times it would be logical to presume that if there is a lot of UPward BTC price movement, then a correction would be in order.  However, we have crossed a decent amount of these sub $10k prices several times in the past, and sometimes bitcoin has shown itself to just be tired of continuing to pass through a range that it has passed through so many times.

In other words, sometimes it just becomes time to move on and to move up... but when that time comes is frequently difficult to identify with any kind of short-term precision.. so frequently, the most profitable folks in bitcoin seems to be those who error on the side of mostly preparing for UP, and maybe taking a slight hedging position in down - even though the down hedging position could remove some of the UP profits, in the even that outrageous exorbitant UP ends up coming at some point... which is far from guaranteed.

Nice to hear your take on things again. I'm very much on the fence about the current price movement. Back when prices were around $7K, I thought there was a >60% chance prices would correct, now we have moved a lot higher I'm 50-50, even 60-40 leaning bullish the more I think about things. We are still within what to me looks like a bull trend (purple) and within a bull flag structure (green), the latter targets much higher levels. There's therefore nothing to suggest a correction as of yet apart from being at long-term resistance (the red line). That said, we are consolidating above this resistance trend-line (that comes from the Weekly chart for reference sake), so again, this is far from bearish.



I realised that moving the Weekly long-term resistance trend-line to include the recent close above it (that would still be valid drawing wise), to suggest that we are struggling to breakthrough resistance, would be drawing a bull-trend with a bearish bias that to me makes little sense apart from airing on the side of caution - which is sensible from that perspective. But otherwise, it's ignoring the fact that we have closed a Weekly candle above it, even if technically we did the same last time at $10K which merely shifted the trend-line sightly higher to where I have drawn it now. It's all very subjective and inconclusive right now imo.



The main argument I see from this resistance is that the more times we test this long-term resistance trend-line (even if sloping downwards), the more the chances of a breakout above it increases, as it is part of the process of weakening this resistance. The main concern "should be" the TD 9 Sell signal, but look at the last time we had this sell signal back at $5K, with a similar bull flag structure. It was a false signal by a long-stretch. This price action does therefore remind me more of $5K "uncertaintity" that led to a massive parabolic bull run, compared to the previous time we were at $10K.

The Weekly close tomorrow will be an important candle, as to whether it looks like a doji reversal candle, or a newly Weekly closing high in recent months. At the moment, we are sitting between those two options with little clarity. Everything from today and through tomorrow will likely just be noise, unless we break-out of the bull flag structure. Breaking down from the purple bull-trend (from the Daily perspective) will be of little significance to me short-term.

My mid-term concern is that breaking down from this bull-flag will lead to $7K levels being re-tested, possibly with another capitulation wick, as opposed to healthy consolidation and support from the 200 Day MA around $8K. Given that we broke through the 200 MA without any resistance, I fail to see how it will act as support, especially given the lack of volume from these levels, as well as previous attempts to find support from this important moving average - that many use to define mid-term bull or bear trends.

[Wekkel]

So, we go up?

[Murat]

So, we go up?

Not yet, I am Still buying!

[rdbase]

Zero, in the poll, currently collecting and stacking sats, my vote in a normal BTC situation would be option 1.
#StrongHats

Agreed.
On a more stupid and ironic note I would use the following hashtag based on yours
#StrongCats
 

Did a search of cat riding a unicorn and came up with alot of new and disturbing memes.
People have been really busy during the pandemic being locked down.

[BTCaesar]

So, we go up?

nope

[serveria.com]

So, we go up?

nope

Why not?

[serveria.com]

So, we go up?

I see no reason for a correction now. After another leg up to 12k or 16k maybe. But now its up up up... go BTC go 

[LFC_Bitcoin]

So, we go up?

nope

Hang on a minute, Julius. You don’t come in here & start being bearish, how dare you.

[dragonvsandroid]

So, we go up?

nope

Why not?

Cos someone said so.

I see no reason for a correction now. After another leg up to 12k or 16k maybe. But now its up up up... go BTC go 

This is exactly why price is indecisive right now. There are those that believe price won't move any higher, and those that don't see any reason that a correction could occur

Some people will never learn   

[Torque]

 

The banking institution(s) that are literally fucking over every person in the world are now virtue signaling.

Condescending and ironic doesn't even begin to describe this.

[LUCKMCFLY]

Who understands it? He claims that Bitcoin can be a Haven of value, then changes everything he says when he claims that it would not be useful in the economy, it is incongruous.

Mark Cuban questions how a bitcoin economy would work, agrees on BTC as a store of value.

Cuban said that bitcoin can “be a store of value,” but pointed out that while the analysis of Preston Pysh on the current financial system wasn’t wrong. But he is wrong about the fungibility of BTC and it’s ability to impact society as a replacement for the current system, he added.

Source: https://coinnounce.com/mark-cuban-questions-how-a-bitcoin-economy-would-work/

[Torque]

Who understands it? He claims that Bitcoin can be a Haven of value, then changes everything he says when he claims that it would not be useful in the economy, it is incongruous.

Mark Cuban questions how a bitcoin economy would work, agrees on BTC as a store of value.

Cuban said that bitcoin can “be a store of value,” but pointed out that while the analysis of Preston Pysh on the current financial system wasn’t wrong. But he is wrong about the fungibility of BTC and it’s ability to impact society as a replacement for the current system, he added.

Exactly, Mark gives absolutely no evidence or even detailed opinion to support why it's "not fungible" and "can't be a replacement for the current system."

But I know why. He's just a mouthpiece for the system. Because 90% of Bitcoin is already in the hands of people outside the "system", and that's why they don't want to use it.