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

[OutOfMemory]

2+10= 12/2 = 6 bucks a pack 6 x 14000= 84000

Smokes are about $50 / pack in Australia right now. I shit you not.

Still the most lethal drug (also neuro-toxic), besides alcohol (cell-toxic, neuro-toxic), both for the cheapest price.
What does that tell us?

EDIT: nicotine as addictive as opiates, followed by alcohol.

[1715241433]

1715241433

[1715241433]

1715241433

[El duderino_]

2+10= 12/2 = 6 bucks a pack 6 x 14000= 84000

Smokes are about $50 / pack in Australia right now. I shit you not.

Should be 100$ 

[OutOfMemory]

2+10= 12/2 = 6 bucks a pack 6 x 14000= 84000

Smokes are about $50 / pack in Australia right now. I shit you not.

Should be 100$  

At least!
I'd even adjust the price to "marijuana levels", so about $10 per gram of tobacco  
A cig, including filter weighs roughly 1.2g *iirc


EDIT: Plus the effect of freeing poor tobacco workers from wage slavery 

[JayJuanGee]

What I like about this month's big pump is that the few dumps that attempted to destroy it were quickly eaten out. This shows a strong upward momentum, which I hope will soon take us to ATH and beyond.

It's dumping again as I type this... Let's see... Will the above hold true?

In any case, I would still HoDL and wait.

Sure, this month's pump has been a continuation of a pump that largely started in the beginning of September, and the upward curve of such pump has gotten steeper with the passage of the last couple of months including steeper in November than what it was in October.

Ultimately, the challenge began in the beginning of September with the battle over the $10k support (which had previously been resistance), which largely took the whole month of September to resolve before we entered into the battles for resistance at $12,500-ish and $13,880-ish, which largely those two battles were resolved without much passage of time (by passing right through them when we approached them)... not exactly like a knife through hot butter, but without any real meaningful corrections (and a kind of upward movement right at those price points)... bringing us to the pre-deadman's zone resistance in the $16.5k to $17,250 arena.. which again such resistance was passed through, once we reached it, without too much efforts and a kind of pump in that area rather than a real battle...

So largely we have entered into our already knowns deadman's zone (of $17,250 to $23,500) without really hitting much if any resistance all the way up from $10k in early September nor at points in which some of us had considered "technically" to be potential battle zones at $12,500, $13,880 and $17,250.

We also have nearly closed 7 weekly candles in a row in the green, so long as this week's candle closes above $15,875 - and surely currently, the odds look pretty decent for that.  

Perhaps it would be better to close this week's candle closer to the $15,875 (yet still green) than to close towards the top of the candle's range (which is currently, from just over 24 hours ago, is at $18,483, as I type).  I don't know.  There seems to be some desire, currently, to stay in the deadman's zone.

Seems to me that we usually do not get more than 7 weekly green candles in a row, and my looking back at the charts from the past several years, I only saw 8 weekly green candles in a row on one occasion in early 2017.. and I only saw 7 weekly green candles in a row on four occasions back to late 2016, so it is NOT a common happening to either get 7 weekly green candles in a row and even more rare to get 8 weekly green candles in a row... and not saying that it could not happen again or that having one or two red candles in there along the way might be o.k., too (king daddy is not exactly or necessarily restricted by some of those technical limitations), especially if we were to close towards the top of this week's candle then it becomes easier to have a subsequent red candle or two and not really getting too bearish in the whole price dynamics.

So the way that we ended up entering into this deadman's zone which is about $17,250 to $23,500 causes the deadman's zone to become a lot more vulnerable to potential meaningful corrections of 25% or greater and a place to possibly engage in a BTC price battle - even though it seems to me that just the mere nature of the deadman's zone causes the terms of such potential battles to be favorable for bulls... at least until we either get to the top of the range of the deadman's zone or until we break through the range of the deadman's zone.. which could then cause the terms of any subsequent battle to become more favorable to bears (at least in the short term) and does not really mean that the bears are going to transition this bullmarket into a bearmaket until at minimum $50k to $75k-ish... then they might have a chance to transition us into a bearmarket that might well come out looking like the mid 2013 bear market (of two blow off tops) rather than looking like the 2018 bearmarket that was more drawn out as one BIG down slope and not meaningful rallys of new ATHs... that "we" did not realize that "we" (when I say "we" in these last two instances, I am largely referring to the royal we, and fuck how others in traditional financial analysis circles define as either a bearmarket or knowing when you are in one.. we are talking bitcoin here.. not some fucking mature or regular asset class) were in it until the end of the year (2018 that is).

The next few days to close this week's candle, and then the following week are critical.^tm

You heard it here, first.  

[OutOfMemory]

^ considering the long wick of the currently developing weekly candle, bears seem to be in control at the moment. Buying interest is needed, but who wants to buy in an accelerating uptrend? (EDIT: FOMO-ers excluded)

EDIT: ATH in 2020 would still surprise me, but by no means in an unpleasant way. I will easily accept that  

Gotta support the kids in home-schooling now. cu l8erz

[Karartma1]

be careful. this next bull is not retail driven with fiat in mind. it is driven by institutional investors. their motivation is not fiat. they drown in fiat, that is not the point. their point is to invest in something that protects against a fiat meltdown. they don't invest to make more fiat, they invest to fucking escape fiat. they invest to hedge against fiat. for them, there is no top to sell btc for even more fiat. they will hold their corn.

The whole post was great, nonetheless, this paragraph must be printed and put on every wall!

[JayJuanGee]

^ considering the long wick of the currently developing weekly candle, bears seem to be in control at the moment.

This seems way too negative, OOM.

We get a wee bit of a slow down of the UPpity, and all of a sudden you conclude that bears are in control.  Fuck the bears.. they are not in control of shit.. at this time... at least NOT in bitcoin.

It takes a lot longer time for sentiment to change than a mere 24 hours or a wee pull back (or slow down of UPpity).. even if we were to go to the bottom of this week's candle ($15,876) or even to the bottom of the candle from the previous week ($14,825).  At the same time, there is also a possibility that you could end up being correct that the momentum for the UPpity is going to need to peter out at some point, but that still would not put bears in control absent some further changes in circumstances that tend to be a product of both price moves and time.. and both of those need to be accounted and dynamics/momentum do not tend to change very quickly.. absent some exceptional circumstances.

Buying interest is needed, but who wants to buy in an accelerating uptrend? (EDIT: Fomo-ers excluded)

EDIT: ATH in 2020 would still surprise me, but by no means in an unpleasant way. I can accept that  

There are surely going to be people buying BTC during these times including some ongoing institutional pressures to buy that are imitations of Microstrategies and that kind of revelatory thinking that has been building over the past several months in bitcoinlandia.  

I would not give up on buyers at these particular prices - even if there has been a significant price run - nor be surprised if there remains some desire for the BTC price to want to continue to go up (because some institutional buyers might not give too many shits if they buy at $12k or $18k or $24k), and another dynamic is for the BTC price to continue to move UPpity and to fuck over all those peeps such as normies, no coiners, bitcoin naysayers, altcoin season pumpeners (dreamers), and skeptics who will later end up FOMOing) waiting for a dip.

Yup, is starting to look that way to some degree. There's always going to buyers who buy the top!
A good example: https://www.youtube.com/watch?v=tOzUV2uq0xE

Hahahahahaha

I like that trolly Indian accent in the video (not that I am a racist.. anyone can end up always buying the top whether indian or otherwise), but it makes the video a bit more funny.

I love when critics like Ray Dalio have bitcoin in their frontal lobe 24/7, and are forced to continue to defend their position against it.

Must be so frustrating for him...salty.

https://twitter.com/RayDalio/status/1328731042690306048

Gotta agree with you Torque...

The BIGGER player bitcoin skeptics are the most fun to watch during BTC exponential times like this.  

[Cryptotourist]

Have i been talking to walls the past 3 years? Or just Baby boomers? Im out of this bs, anyone sent me  PM when they will wanna give me my Coins back or finance some real skill. Peace

T _ _    C _ N T O N _ A N _

Would I love to see BTC go to $100, just to see how PayPal would shit their pants with their IOUs.
(also, I'd probably buy some more)

Not cool.

[friends1980]

Not selling anything until $50k. I hedl for 2 extra years since the price was $20k so this extra hodling time should be properly remunerated.    

Selling is not my concern right now. "When can we buy more?", is what I'm thinking atm

You have had nearly 3 years to buy MOAR... so difficult to know what to say... atm...

sucks to NOT have been adequately and sufficiently pee pared for UPpity, no?

 

Ha my household budget is calculated in an extremely orthodox way. Not a single penny that I cannot afford to lose, will be lost in this family, no matter how high or low BTC prices are

[Cryptotourist]

We get a wee bit of a slow down of the UPpity, and all of a sudden you conclude that bears are in control.  Fuck the bears.. they are not in control of shit.. at this time... at least in bitcoin.

That's my boy.

The BIGGER player bitcoin skeptics are the most fun to watch during BTC exponential times like this.   

Ahh, yes!

RSI above 84 on the 3D chart rarely holds without a proper correction 20% plus). The problem is timing the local top. It could be $23k for all we know 

I bet we "correct" at 3d RSI 92, maybe after ATH.. 

Hashrate slowly creeping back up:



Retarget Date: November 30, 2020

[Cryptotourist]

Forgot the visual, BTC vs alts:

[600watt]

be careful. this next bull is not retail driven with fiat in mind. it is driven by institutional investors. their motivation is not fiat. they drown in fiat, that is not the point. their point is to invest in something that protects against a fiat meltdown. they don't invest to make more fiat, they invest to fucking escape fiat. they invest to hedge against fiat. for them, there is no top to sell btc for even more fiat. they will hold their corn.

The whole post was great, nonetheless, this paragraph must be printed and put on every wall!

i have no clue if the escape velocity of btc price to never come back down +80% again will be reached this next cycle or the during a later one. be careful regarding both sides: if it just another regular cycle with blowoff top and +80% correction the hodlers that didn't sell any will look stupid. and feel that way also. the problem is it will be clear only in hindsight. you have to ask yourself what is most important for your situation: can you stand watching 80% of unrealized fiat gains to evaporate? or can you stand being a no-coiner the moment that hyperbitcoinitzation of the global finance takes place? it is both hard to cope with. so maybe adjust to some middle way. just don't sell all your corn, but - for the sake of getting rewarded - don't forget to take some fiat profits either.

short term charts look ugly right now. I expect a pull back and attack on ath postponed. which is all good. if we attack it early next year it would paint a much healthier chart.

but should we blast to $23k next week, I am happy to accept that also  

edited

[FullNode]

🆕 All-time high for BTC futures daily volumes yesterday,
exceeding the previous record by more than 20%.

https://twitter.com/skewdotcom/status/1329357310800564224?s=19

[AlcoHoDL]

Ultimately, the challenge began in the beginning of September...

[...]

The next few days to close this week's candle, and then the following week are critical.^tm

You heard it here, first.  

Nice analysis Jay, thanks.

[ivomm]

So every once in awhile I look at my Porsche and think "Damn that thing is worth a lot given the 2 bitcoins I paid for it". The value of having it these past few years is amazing, but those bitcoins would have bought other things now. Time however is something you can't replace.

I wonder if Bob is going to look at his liberated and lubricated ex-wage-slave and think "damn that boy's ass is worth a lot given the X bitcoins I paid to bail him out of bondage".

I'm afraid me paying 30 BTC for my Ducati is not going to age any better then it already has so far.... But like Bob said, absolutely no regrets!!

You mean the one that you crashed a few weeks later, or a different one?

 

My face is starting to slip away from my skull, yo.

This rocket has some high-grade fuel, yo.

We might hit $18K today at this rate.
This shit remind me of late 2017. The craziest thing is that this bull market is just getting started though.

How could it remind you of late 2017 when we have not even reached the previous ATH.. ?   hardly makes any senses...

@JayJuanGee Today I am writing here on this thread first time because I am new to this forum and in this community trying hard to understand someone suggest me if I want to understand this all then I have to read your posts very carefully so I already done and read some good number of pages look like its very interesting for me but still want to ask can you give more tips to understand this all thanks.

 Motherfucker!

Very Nice and Thanks 

 It's not meant for you but for the person who directed you to ask JJG.

This really cracked me up! The funniest post I've read in many pages  For such advices we have a saying in our country: To send someone for green caviar.

[friends1980]

Fixed

Facts, math and science and such, all quite fine by me, but it might be helpful to share some sources from time to time, because predictions like this one won't convince anyone here

↓

All are just speculations. Nobody can predict the future correctly. Besides, I cannot see Bitcoin going back to $10,000 before the end of this year

I'll predict the future. Bitcoin won't be $10,000 ever again.

[AlcoHoDL]

@friends1980 & all:

I've said it before. I believe proudhon is a Bitcoin HoDLer, and a much bigger HoDLer than the average WOer. He's just making fun of all of us here. FWIW, I like him, and r0ach too. They add a nice ingredient to that special WO sauce...

BTW, I think the weird singing animal in proudhon's avatar is a Llama! Ha!

[JayJuanGee]

[edited out]

@JayJuanGee Today I am writing here on this thread first time because I am new to this forum and in this community trying hard to understand someone suggest me if I want to understand this all then I have to read your posts very carefully so I already done and read some good number of pages look like its very interesting for me but still want to ask can you give more tips to understand this all thanks.

Oh my!!!!    

[edited out]

Come on JJG, help the guy out.

Oh my!!!!    

[edited out]

Ha Ha..
You forgot to have him take the requested conversation off the WO thread.
Keep him occupied elsewhere for a bit.  JK

Are you trying to get rid of me, Booger?

[edited out]

I don't think its important as I have some good knowledge after reading his too may old posts he is doing really good here just ask if he can suggest any thing else I am already doing some personal search also but his suggestion may help more quickly.

There are probably better ways to stalk... and still contribute.....

[edited out]

 Motherfucker!

That's another way of putting it.

 

[edited out]

 Motherfucker!

Very Nice and Thanks  

 It's not meant for you but for the person who directed you to ask JJG.

Apparently, Bitcoin577 knows people.  



Go figure.

[JayJuanGee]

past cycles were driven by retail fomo. retail that was ... (...)

Bla bla bla. Bla bla bla blaaa bla bla bla. Until a solar flare hits, remember we have been gifted the time without Coronal Mass Ejection.

i was talking to bitcoin owners. not to fiat weirdos.

hahahahaha...

Well, yeah, someone who is complaining about losing all his coins at GOX nearly 7 years ago, while failing and refusing to make in any reasonable and prudent mitigation efforts.  eXPHorizon hardly seems to be a model for any person who really wants to pee pare his/her lil selfie for a seemingly increasingly problematic fiat future.

Happy bull market. Price drags me back to here again.

Love you all.

Well, you have the patience of a saint..

Or is it a nun?


 

[seek3r]

I think James is doing well these days!