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

[wxa7115]

Florida Man who Used COVID-Relief Funds to Purchase Lamborghini Sports Car Charged in Miami Federal Court
A Florida man was arrested and charged with fraudulently obtaining $3.9 million in Paycheck Protection Program (PPP) loans and using those funds, in part, to purchase a sports car for himself.  Authorities seized a $318,000 sports car and $3.4 million from bank accounts at the time of arrest.

Even criminals thrust banks. I hope they learned there lesson 

Never trust an even bigger criminal?

[LFC_Bitcoin]

Should have put all the money in bitcoin, claim he’d lost access to them. Hide the private keys somewhere, do his jail time & then access the corn when he got out.

[infofront]

1. Get gov't loan
2. Spend it all on bitcoin
3. Go to a minimum security prison for a few years
4. Enjoy your $millions

[infofront]

Masterluc's chart from March:

[hodl_2015]

Should have put all the money in bitcoin, claim he’d lost access to them. Hide the private keys somewhere, do his jail time & then access the corn when he got out.

Launder it: eat the key in court, then sell interviews and books for new btc.

[Krubster]

Masterluc's chart from March:

Means we are going to new highs. Weeeeeee

[JayJuanGee]

Old poll:

I was a July brother

I was a July picker too, but I was confused about what a "break out" actually was meant to be in terms of the poll, but surely a $2+k-ish move UPwardly within a week, with the last $1,700 of that UPpity coming within a 12-hour period would surely constitute a "break out" within almost anyone's (even the most pessimistic amongst us) view of what constitutes a "break-out" matter.

Must give a SHOUT OUT, good call to infofront in terms of anticipating that "we will know it, when we see it," even if such "anticipation" was subliminal.    

 

>20k because Hopium addicition

When?

The good thing is that it's not Barting...

Downward pressure is quickly counteracted by pampenings...

Soon the last remaining barriers will fall and the bull will be unleashed.

$20k by Xmas? *drools*

Whoaza!!!

Christmas.

Gonna be nice.

If I need to do christmas shopping, should I just wait until after christmas?

No one want to sell in the "no man's zone,"** right?

** Arena of the previous ATH.

[cAPSLOCK]

Masterluc's chart from March:

We are definitely looking like we are in green arrow #1.  Hasn't he also said something more recently?  And I know people like to rag on him, but I feel like hes a very good EW tea leaves reader...  and has been accurate a lot.

[d_eddie]

Masterluc's chart from March:

We are definitely looking like we are in green arrow #1.  Hasn't he also said something more recently?  And I know people like to rag on him, but I feel like hes a very good EW tea leaves reader...  and has been accurate a lot.

I think he's been the first to forecast the big picture, way back. His long term predictions mostly stand, but he did put out quite some short/midterm BS. And Vanga (one of his pseudonyms) was indeed the tea leaf reader type: a witch of the woods specializing in information - fortune telling etc.

[infofront]

Must give a SHOUT OUT, good call to infofront in terms of anticipating that "we will know it, when we see it," even if such "anticipation" was subliminal.   

Haha, thanks

Masterluc's chart from March:

We are definitely looking like we are in green arrow #1.  Hasn't he also said something more recently?  And I know people like to rag on him, but I feel like hes a very good EW tea leaves reader...  and has been accurate a lot.

I was having trouble finding his new charts too, but they're all listed in the comments here: https://www.tradingview.com/chart/BTCUSD/iNSP9waV-Historical-IV-almost-completed/

He definitely did very well from 2013-2017 or so. His predictions have been more spotty since then, but there are some gems. On June 2 he said:

Trade closed: target reached: The target of local short-term triangle is above $11000. Which will trigger break of long term resistance line at around $10000. And this will trigger break of giant long term triangle with target well above all time high.

This is a start of long term bull run. It probably will take around 4 years. After that world will see 10 years of bearish activity.

[JayJuanGee]

I said 13-13.5. We'll see how she goes

Only less than 4 days for the close of the poll timeline.. and several of you guys are subscribing to a kind of "the trend is your friend" BTC price theory for the upcoming days.  Whoazza

I won't complain if a MOAR bullish than expected BTC price performance situation plays out...


And, I already mentioned, a couple of times, I believe, that I am not personally going to be inspired with confidence about 4 digits being in our BTC price history (or in our rearview mirror) unless we get above our June 2019 high of $13,880.

I made my call based on that ~$13,800 resistance. I'm guessing we'll bounce lower off that by Friday.

Fair enough.

There is likely going to be some resistance in the $13,880 arena, and surely will be an interesting scenario to break straight above that $13,880 area.

I would suspect that the next resistance area after $13,880 will be around $17,250-ish... but hey, what do "we" know?  


PS:  By the way infofront, I just realized that you seem to be suggesting that you are anticipating a BTC price correction on or before Friday (that's how I read "by Friday).. so you are anticipating up and down before Friday, but then by the close of business (which maybe would be 5pm UTC or something like that when the daily candle closes), then the BTC price would remain within the range of your $13-$13.5k  prediction?  I would not consider  $13-$13.5k to be much of a correction if $13,880 might be the top for this period.... but hey, your scenario is more optimistic than mine, and you are not going to find me whining about not having enough bitcoin (unless, I am just faking it.. hahahahaha)..

[rdbase]

Should have put all the money in bitcoin, claim he’d lost access to them. Hide the private keys somewhere, do his jail time & then access the corn when he got out.

Launder it: eat the key in court, then sell interviews and books for new btc.

Who did/is going to do that?
Karpeles?
That Mt.Gox guy is gonna make ultimate bank after they serve their jail time for sure.

[yefi]

Masterluc's chart from March:

It literally entered the "Very bearish breakdown" area the day after that chart was posted. But then I guess the trick to being a Nostradamus is to cover your ass both ways.

[JayJuanGee]

Oh and did anyone see Pomp annihilating Peter Schiff last night?  I did not used to really respect him, but his perspective has matured and sharpened a LOT over the last few years... he's a real asset for BTC.  Understands it, and delivers extremely well on TV etc.

https://www.youtube.com/watch?v=Gwmxx5o8cn4

"How do I hang up"?  That's how Schiff ends the podcast.  Probably just thinks it funny.  But he was GIVEN bitcoin and "lost the password".

Seriously.  This is the reality that we have to build for (I say we).

When I hear Matt O'dell describing privacy best practices, and he and Marty trying to get people to run nodes, and all that I just shake my head.  It's not that this is not important, but it's that it's MORE IMPORTANT to onboard all the non-geeks.  Peter Schiff lost his BTC because the tech was too hard for him.  

There are SOOO MANY people this is true for.  And they are not all boomers.

This is why I still think Cash App and probably eventually Paypal will end up being the most important layer two solutions.

Us geeks can custody ourselves and use multi-sig and so on.  

Anyway Schiff is such a bonehead.

I just watched the 1 hour 40 minute video, and I did not conclude that Pomp had annihilated Schiff.  There were likely several points that Pomp could have made better arguments regarding what makes bitcoin valuable besides merely getting caught on some short time frame price performance comparisons.. but Pomp did o.k.  overall.. and surely it is easier for me to sit here and criticize as compared with Pomp's engaging in impromptu discussions and battles with someone so persistent and sometimes making outrageous claims, like Schiff.  

I will say that Pomp actually did much better in NOT allowing Schiff to talk over him as compared with a recent Joe Rogan podcast (in mid July) in which Joe allowed Peter to ramble on and on and on (even though the Rogan podcast was more about the economy and not even a word about bitcoin in that Rogan podcast).

Edited my first paragraph, a wee bit for clarity

Actually, here is a much better presentation from Anthony.. It's about an hour and 12 minutes, and you don't have to listen to stupid ideas from Peter Schiff.

https://www.youtube.com/watch?v=zEneCMdy91M

Pomp largely talks about mostly macro-economic matters until around the 55 minute or so point before he brings up bitcoin and thereafter some personal investment strategies.. or how to think about risk when you are younger (based on age)... Anyhow, the whole video is interesting.

[Krubster]

Should have put all the money in bitcoin, claim he’d lost access to them. Hide the private keys somewhere, do his jail time & then access the corn when he got out.

Launder it: eat the key in court, then sell interviews and books for new btc.

Who did/is going to do that?
Karpeles?
That Mt.Gox guy is gonna make ultimate bank after they serve their jail time for sure.

If anyone deserve that rusty pipe mentioned in this thread the last week, it's Mark. I hate that guy with a passion. He fucked me up financially.

Unfortunately, he is not in jail.

On March 14, 2019, the Tokyo District Court found Karpelès guilty of falsifying data to inflate Mt. Gox’s holdings by $33.5 million, for which he was sentenced to 30 months in prison, suspended for four years, meaning he will serve no time unless he commits additional offenses over the next four years. The Court acquitted Karpelès on a number of other charges, including embezzlement and aggravated breach of trust, based on its belief that Karpelès had acted without ill intent. Nonetheless, the verdict said Karpelès had inflicted “massive harm to the trust of his users” and there was “no excuse” for him to “abuse his status and authority to perform clever criminal acts.”[38] Karpelès issued a statement saying he was “happy to be judged not guilty” on the more serious charges and was discussing how to proceed with his lawyers regarding his conviction on the falsifying data charge.

https://en.wikipedia.org/wiki/Mark_Karpel%C3%A8s

[JayJuanGee]

I feel like 11 needs some reinforcement.

Indeed. I'm buying the whole way up. Keep stacking.  A decent number of coins have move to the sell side book and yet we are holding 11k. Hopefully we run to 11.5+k by EOD.

Buying on the way up is usually not a good idea, but hey, I understand that you are trying to do your pumpening part... so can't really blame you for that.

[gembitz]

You know shit's happening when you check the board and there are 10 pages of new posts since you went to sleep, lol.

heh yeah. i dont regularly check the price (maybe once a week or even less); i have laddered sells and buys set and let it run on autopilot for the most part. but when in the space of like 6 hours there were 8 new pages in the WO i fired up a tab to my exchanges.

it was an enjoyable experience. and now a tab is always open on my main exchange, havent done that for a while.

in someones words: "weeeeeeee!"

we clipping 2Ok yet plebs? :-D reeeee

[JayJuanGee]

i dont trust bots. (apologies to JJG)

I don't trust stealth helicopter wannabes...  (hahahahahaha... whoops... did I go too far, with my desire to humor my lil "selfie"?)

 

[dragonvslinux]

I said 13-13.5. We'll see how she goes

Only less than 4 days for the close of the poll timeline.. and several of you guys are subscribing to a kind of "the trend is your friend" BTC price theory for the upcoming days.  Whoazza

I won't complain if a MOAR bullish than expected BTC price performance situation plays out...


And, I already mentioned, a couple of times, I believe, that I am not personally going to be inspired with confidence about 4 digits being in our BTC price history (or in our rearview mirror) unless we get above our June 2019 high of $13,880.

I made my call based on that ~$13,800 resistance. I'm guessing we'll bounce lower off that by Friday.

PS:  By the way infofront, I just realized that you seem to be suggesting that you are anticipating a BTC price correction on or before Friday (that's how I read "by Friday).. so you are anticipating up and down before Friday, but then by the close of business (which maybe would be 5pm UTC or something like that when the daily candle closes), then the BTC price would remain within the range of your $13-$13.5k  prediction?  I would not consider  $13-$13.5k to be much of a correction if $13,880 might be the top for this period.... but hey, your scenario is more optimistic than mine, and you are not going to find me whining about not having enough bitcoin (unless, I am just faking it.. hahahahaha)..

$13-$13.5k is totally possible by Friday, not just because anything is possible in Bitcoin, but because price made a considerable move yesterday that could easily be the beginning of a parabolic run to higher levels. To me this means price can correct back down to $10K to find support and move higher in a more sustainable manner (hopefully), or otherwise, if we don't see a correction continue by tomorrow, and instead Bitcoin moves above the recent $11.4K high, then somewhere upto $14K could easily happen within 48 hours (confirming a parabolic move). This doesn't mean $10K wouldn't get re-tested if price confirms a parabolic move, just that it'd be slightly less likely imo.

Personally, I think consolidating lower to confirm the breakout is more likely, could take a few days, even a few weeks. But more relevantly, if this doesn't happen, then $14K levels by the end of the week is totally feasible. Bare in mind Bitcoin moved 25% up within just 7 days. If the days of the week were ordered differently, the Weekly candle would not be considered a break-out engulfing candle, but also a parabolic move*. Ironically this wasn't the case, but it doesn't mean price didn't begin a parabolic move, only that the first day of the week in Monday and therefore there is much less confirmation of this parabolic move.

*Worth remembering that in April 2019 Bitcoin moves 24% up in price within a week after also being in a range for months, but took a few weeks to consolidate the new price level before moving much higher. Don't be surprised to see price move sideways for a considerable amount of time without a $10K dip occurring either.

Hodl on I say, buy the dip at $10K if possible

[cygan]