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

[Toxic2040]

evening charts


#dyor


1h


4h


D

#stronghands

[dragonvslinux]

For all the WO bulls out there, those wearing the silly caps and posting almost exclusively in one thread, here are my current concerns.

After a month of price being overbought, we have now confirmed a rejection from returning to overbought levels. While price remains in bullish territory, a break below 55 could see a re-test of bearish price strength:

I'm not bearish yet, the $17.9K support level still needs to be broken by the bears with confidence and follow through. There's a good chance we bounce from the 21 Day MA again (blue line, bull trend moving average) like we did a few days ago, creating a textbook bullish higher low. But if we don't, and we end up back at $16K, it's not going to be pretty.

I'm still 95% in. Ironically the 3.5% I sold at $18K from the previous break-down I now no longer need due to a tax based administrative error  

It does mean that capital is now back in the order books trying to pick up a wick on a low liquidity exchange pair

It's soon time for strong hands. If you need to sell a % or two to make you feel better about a correction that could go as deep as 25-35% ($13-15K), now is the time to think about it.

[eXPHorizon]

....

touching.
But wtf does that have to do with the price of eggs in Czechoslovakia?

John was one of the driving forces in my life.. Maybe if i did not watch Gold Rush i would not taken the course/values in my life the way i did..

[Biodom]

  How much do hodlers hold?  how much will they redistribute?  In 2013 Plans to bank/fund/invest $xx000000 seemed prudent.  Now, every day going forward reduces the $assets I want to hold:  A very modest fund for living expenses, and whatever hard assets (personal real estate, working farms, profitable businesses etc) I want while exchange rate is favorable.  The world we live in is changing faster than most can see or grasp.  Hodling more, longer, is going to be more popular as we go, IMO.  

I really only have one thought that gives me pause when I consider the idea that I just wait 'till I can simply live off my stack (morpheus.png).

Let's say corn goes to 300k, but I do not sell any because of the above.  It probably happens fairly quickly, and governments may be temporarily stunned.  But then they are looking for ways to get their piece of the pie and create laws that tax bitcoin more heavily, or claw some of it away.

In that scenario I would be disappointed that I had not sold at least a small nestegg's worth during the "governments are stunned" phase.

And if I DO do this, and governments do not try to do draconian measures, I would not be disappointed in hedging that bet a little.  So there is a good chance I do this, at whatever is my actual nestegg price.  Lol 300k.  Thing is I do not want to trade good money for bad.  But to trade good money for good land?  I could see that.

On the other hand the further we go the harder it will be for governments to do this.  Maybe?

The question is: at what price they would be "stunned"?
I think that it depends on "how fast".
They were a bit "stunned" in 2017 when the price was going up fast and overall crypto space was starting to approach 1tril (well, 800 bil).
I remember Malamed of CME essentially promising to "reign it in".
They were not really stunned by gold going from 1.5-2 tril to 10 tril in a decade or so (2001-2011), but started to get "annoyed", so gold went down for 7-8 years while large tech stocks prospered.

Bitcoin going up 100%, even a bit more in a year would not cause the "being stunned" effect, but going to 300K in 2021 almost certainly would (at least to a degree).
My major complaint is that we never had nice long flat distributory tops where you can think a bit about selling or not selling.
It is always wham, bam, thank you ma'm!

[yefi]

In my experience when you do something solely to make someone else happy it makes you unhappy and bitter.  It can destroy that relationship and result in a bad situation for both people.  You resent that person for making you feel like you had to sacrifice your choice or happiness to help them obtain theirs or their perception of you.  It usually backfires and creates a worse situation.  

For example... a father pressures his son to following in his family's footsteps as a doctor when what the son really wants to do is be a software developer.  The son begins down the path of schooling and requirements to become the doctor his father always wanted him to be.  One day the son realizes he is truly unhappy in this career and choses to follow his passion of software development.  He drops out of school and his father is angry at him for the wasted time, money, and for not achieving the "ideal career path".  The son resents his father for the same reasons as well as himself for never following his own passion.

Sometimes you just have to be you and stand up for yourself.  Being "selfish" is often looked at as a negative term... let's refer to it as self-love then.

Doing something to make someone else happy because it also makes you happy is a different thing...

I catch your drift now. Making others happy can either come from a place of weakness or from a place of strength. Make it always from a place of strength.

[lightfoot]

*sigh* Sic transit Gloria Mundi.

[Biodom]

kind of funny...

Satoshi's heavy bag:

https://twitter.com/blockfolio/status/1333758210436714498

in the other news:

the scent of hopium is getting stronger by the day:

https://cointelegraph.com/news/this-metric-suggests-bitcoin-price-can-go-as-high-as-590k-this-bull-run

[Toxic2040]

For all the WO bulls out there, those wearing the silly caps and posting almost exclusively in one thread, here are my current concerns.

Noted.




All I can say is if we do get a massive handle to buy the dip with everything you have. I am of the mind things might be different..a lot of things went right for bitcoin this year. I believe it is going through another order of magnitude adjustment in its adoption phase and this, the halving and the pandemic have all place unique pressure on an already volatile market. Scarcity and the need for a secure portable store of wealth has met demand head on and the results are showing in recent price discovery.

It's soon time for strong hands.

Yes.

[jojo69]

[JayJuanGee]

Saylor:

You don't have to invest all your money in #Bitcoin, just the money you want to keep.

https://t.co/bQjYkvRa1S

Haha, I love this guy.

That is a great quote.

I could not find the quote in that article, but I did find the quote in Saylor's tweet in which he referenced that Medium article.

Here's the link:  https://twitter.com/michael_saylor/status/1333825940573593600

Apologies, the link came with copying the Tweet text. I did not know the link was to a Medium article instead of the Tweet itself.

Oh yeah.. that makes sense.. and part of the reason that some of us are here to catch those kinds of little mistakes, and we all are better informed and advantaged by that kind of information after it is clarified (in the event that mistakes are made.. which we all make mistakes from time to time).. Anyway... the point is that the substance was there in your original post, Wekkel,.. just a wee bit buried...   

Regarding frugality: once you go frugal, it is difficult to come back...everything looks darn expensive, causing buyer's remorse.
On the other hand, giving descendants a 50-100 year rein in luxury-why bother? Nothing productive comes out of it, typically.

I don't know, Biodom.. each of us have our styles.. and some peeps get rich through their frugality and others get rich through flamboyance...

I surely characterize myself more on the frugal side who is trying to learn flamboyance later in life.. but... I am not sure if I am going to be able to succeed.. I have had some flamboyance in my history.. so it is not completely out of character for me to increase in that direction.. just conservative and frugal seems to flow a bit easier for my background, my practices and my personality.  

Don't get me wrong, I do have some nice things and I do spend money on nice meals, sometimes.. and I am not afraid to order the more expensive items on the menu, if that is what I want.., but I still have some inclinations of NOT throwing things out when they still work, and sometimes I prefer to do somethings myself, when surely I could pay someone to do some of those things..   so it just seems to be something that I am still learning to how to do MOAR better.

[d_eddie]

All I can say is if we do get a massive handle to buy the dip with everything you have. I am of the mind things might be different..a lot of things went right for bitcoin this year.

Do you have a SOMA ballpark for the dip?

[criptix]

All I can say is if we do get a massive handle to buy the dip with everything you have. I am of the mind things might be different..a lot of things went right for bitcoin this year.

Do you have a SOMA ballpark for the dip?

November monthly open around 13900.

A wick to 12500 would also be in the play if we go that deep.


Would for sure fuck with a lot of weak hands

[montaga]

Anti LGBT politician escaping a drug, 25 men gang bang party through window/roof hatch when police arrives
What will his wife a Constitutional Court judge say when he gets home?
https://www.youtube.com/watch?v=jN77Pr5h0ec

[Cryptotourist]

Beware: High Grade Hopium, experienced hopium users only
~
The 2013 reloaded scenario sees us at $160k in March-April, before a pullback and final blow-off to $800k then slow slide to settle around medium clearing level of $200-300k post 2021.

I love it when you go full bullish like that marcus, but let's not forget that I'm supposed to be the retarded one here.
If we hit $800k before 2025, I will eat my dick off, live, on WO exclusively.

That is the BIG question, Cryptotourist, and I believe that such question has not been answered yet.

Resemblance to 2013 or 2017... ?   Or will the price performance slope play out somewhat differently from either of those?  I have my doubts about being able to really have confidence in knowing which kind of price performance slope will play out, in advance.  Sure we can have theories.. but confidence and certainty? that would require explanations in order to inspire confidences.

I'm still sticking with my numbers ($80k-$240k) for 2021.
It is the timing of events that could be 2013 or 2017 bull run related - or not, that fascinates me and keep readjusting.
For example, breaking ATH in November the other day, gets me thinking that blow off ATH price for 2021 will also be in November.
Things like that. And never forget the brrrr.

[OutOfMemory]

Anti LGBT politician escaping a drug, 25 men gang bang party through window/roof hatch when police arrives
What will his wife a Constitutional Court judge say when he gets home?
https://www.youtube.com/watch?v=jN77Pr5h0ec

coming soon: Divorced, sued, f*cked.
Maybe not in this particular order 

btw.: have you read about the "fine" €25 for each "partycipant" and €75 for the host (for not following covid orders)
Equality, right?

But remember:

Some are more equal than others

[AlcoHoDL]

Anti LGBT politician escaping a drug, 25 men gang bang party through window/roof hatch when police arrives
What will his wife a Constitutional Court judge say when he gets home?
https://www.youtube.com/watch?v=jN77Pr5h0ec

coming soon: Divorced, sued, f*cked.
Maybe not in this particular order  

btw.: have you read about the "fine" €25 for each "partycipant" and €75 for the host (for not following covid orders)
Equality, right?

But remember:

Some are more equal than others

Very cheap. Think of it as an entry ticket to the party. A good encouragement for other groups to hold parties. Nice!

[OutOfMemory]

All this talk of the search for happiness, reminds me of the Buddhist concept of grasping being the source of unhappiness.

Happiness, if found, will always be temporary. You can buy the new car and you'll be happy for a while, until you then want the new boat, which itself will make you happy for a while, until you want the helicopter, then the airplane, ad infinitum. The search for permanent happiness will always be endless. Instead, Buddhism (well, some of its schools) would suggest that contentedness, rather than happiness, should be the goal.

Be content with what you have. Which doesn't mean that you shouldn't try to improve your situation and that of others, but that you should be content with whatever outcome arrives.

The whole "happiness" industry has just become so "Americanised" (or maybe "Californianised") to have simply become an industry of easily digested and poorly written books and websites. It's saddening, when there is potentially so much more to be learned here.

Ignoring the mention of God, I quite liked a passage in Obama's newly released "A Promised Land":

"The truth is, I've never been a big believer in destiny. I worry that it encourages resignation in the down-and-out and complacency among the powerful. I suspect that God's plan, whatever it is, works on a scale too large to admit our mortal tribulations; that in a single lifetime, accidents and happenstance determine more than we care to admit; and that the best we can do is to try to align ourselves with what we feel is right and construct some meaning out of our confusion, and with grace and nerve play at each moment the hand that we're dealt."

Gave up my last sMerit before reading this, so

+1 WOsMerit

Satisfaction, from my point of view, is self-made. Once you're generally satisfied with your life, and this is where we should not have to complain too much, for example compared to an average north korean or somali citizen, you are able to find happiness quite often and easily. Accepting that things that happen are good, things you have are enough (and so on) instad of following and thus building your ego's frustration and discontent, is basically a way to more happiness.
Avoiding comparison is the key.

I can look at my bitcoin "stash", have three choices:

1. Most WOs have way more corn than me
2. I have *insert low number here* coins, but most people i know have none and probably never will.
3. Hey, i own bitcoins! fucking brilliant!

Very cheap. Think of it as an entry ticket to the party. A good encouragement for other groups to hold parties. Nice!

Even then, it's fucking cheap for a sex party, isn't it? I used to pay about 2 times that much  #nohomo

[El duderino_]

[Cryptotourist]

Gentz, I know we have spent years plotting things like the 100k party, but I have had my mind on another festivity for WO's to participate in......

This could be done either in groups or individually......

Its something I think deep down you all want to do, whether you will admit it or not......

Something that with the right WO hand sign in the right pic could have legendary implications that resonate across the Bitcoin universe......

A trend that could result in the unfortunate(but still worthwhile) extinction of several species of mammals.....


What I am proposing is for some noble WO member to travel deep into the heart of Carolina and......

KILL A BEAR (then flash the WO hand sign in a pic )



https://www.carolinasportsman.com/features/do-it-yourself-carolina-bear-hunting/

We could even have a small BTC bounty and whoever kills the bear w the WO sign first then other members would send a donation to their address as a token of appreciation. I certainly would make a donation if someone beats me to the first kill.  


 

So you're trying to say bear hunting season is not yet over? 

[Karartma1]

All this talk of the search for happiness, reminds me of the Buddhist concept of grasping being the source of unhappiness.

Happiness, if found, will always be temporary. You can buy the new car and you'll be happy for a while, until you then want the new boat, which itself will make you happy for a while, until you want the helicopter, then the airplane, ad infinitum. The search for permanent happiness will always be endless. Instead, Buddhism (well, some of its schools) would suggest that contentedness, rather than happiness, should be the goal.

Be content with what you have. Which doesn't mean that you shouldn't try to improve your situation and that of others, but that you should be content with whatever outcome arrives.

The whole "happiness" industry has just become so "Americanised" (or maybe "Californianised") to have simply become an industry of easily digested and poorly written books and websites. It's saddening, when there is potentially so much more to be learned here.

Gave up my last sMerit before reading this, so

+1 WOsMerit

Satisfaction, from my point of view, is self-made. Once you're generally satisfied with your life, and this is where we should not have to complain too much, for example compared to an average north korean or somali citizen, you are able to find happiness quite often and easily. Accepting that things that happen are good, things you have are enough (and so on) instad of following and thus building your ego's frustration and discontent, is basically a way to more happiness.
Avoiding comparison is the key.

I can look at my bitcoin "stash", have three choices:

1. Most WOs have way more corn than me
2. I have *insert low number here* coins, but most people i know have none and probably never will.
3. Hey, i own bitcoins! fucking brilliant!

Nice. Now go and merit the guy with real ones (I am out now but sharing is caring).
BTW, I like your three points. We are friends it seems.