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

[phishead]

Attention to all crypto-entrepreneurs

Just wanted to take a second of your time to check out my auction for a possible Bitcoin/crypto business PR contract with me, while also helping me pursue a dream I've always had, and to do it all with Bitcoin I've held since my delivery driving tip money days.  Thanks for your time and happy hump day!

https://bitcointalk.org/index.php?topic=5310811.msg56139513#msg56139513

[dieselmeister]

Increasing volume at this level, it is around the support of this triangle that we have been consolidating in since the 42k high.

Buy the dip time is now.

I have no fucking fiat money any more ... "Verdammt!"

[UnDerDoG81]

Guys we only dropped few % from ATH but I feel so poor  when moon?

[d_eddie]

Trump Pardons Ripple Board Member Ken Kurson; Ulbricht, Snowden Not on List

Silk Road’s Ross Ulbricht was not among the 143 individuals to receive clemency from the President, despite reports he was being considered.

https://www.coindesk.com/trump-pardons-ripple-board-member-and-family-friend-ulbricht-not-on-list

[Krubster]

Let's have a look at the previous bull market.



The first leg up lasted for 79 days with 224% gains. The following correction lasted for 34 days, ending with a big fakeout (-39% from ATH) before the next leg up.

Looking at the other corrections, we can see that they all ended in a similar way, with a big dip before going up again.


Now let's have a look at the current market.



Here the first leg lasted for 93 days with 295% gains. The currect correction that we are in right now have resulted in a 27% dip so far.

If the current bull market will behave anything like the previous one, it would indicate that we are in for a bigger correction before going up again.

But hey, what do I know. This time it's different ^TM, right?

(Sorry for the big pics, but they became unreadable when I was trying to scale them down)

[d_eddie]

Yes, this time is likely different. All previous bulls were led mainly by retail, as we know. Now we have WS money in the game, and those are strong hands once they fall in love with a moneymaking machine.

In other words, the supposed ~39% dip should bring us in ~25k territory, but my gut tells me we're barely going to kiss 30k, if even. Grayscale unlocking on Feb 3 could mean the end of this correction as fresh $$ start to buy corn again. I've got to run this bunch of data through my SOMA system to be sure, though.

[Biodom]

25.9 or 30 for the bottom?
I agree that 25-26 is a tad low, but 30 is not lower low in a corrective move. Such lower low was achieved every single time in 2017 before it sharply reversed.
Let's call it 28-29K in around 20 days or so ,  

[OutOfMemory]

Brother why to look for 2nd of February?? Whats happening? The only thing I know is that my GF has her Bday the 2nd of February and i'm not going to sell any coins and certainly no big amounts for the event...

I quoted the relevant paragraph:

The next major unlocking is set to happen around February 3, 2021. Meaning the time period beforehand will be void of unlockings.

This void enables the market to cool down. That’s what we’re currently witnessing the week of January 11th.

If you are scared for February 2, then brace yourself for more to come:



Source

Can you see how February compares to June? or July?
February end of lock period is related to buys in July. This is NOTHING compared to the buys in Q4 this year, as you can see, that will result in endo of Q2 end of locks.

Not scared in any way, but more the opposite 

[JimboToronto]

Good morning Bitcoinland.

Still bouncing along in sideways consolidation in the $3xxxx range... currently $34988USD/$44425CAD (Bitcoinaverage).

The longer this goes on, the higher we go when it breaks.

Go Bitcoin go.

[d_eddie]

I'm having a small Coindesk tour today.
After news about Trump pardoning his friend and former Ripple board member, here's a little FUD for you.

Bitcoin Is Aiding the Ransomware Industry

https://www.coindesk.com/bitcoin-is-aiding-the-ransomware-industry

[infofront]

[Dabs]

Hey guys, I know some of you may be into hardware wallets, some of you are into paper wallets, and everyone wants to secure their corns.

I've been doing some reading lately, and while I've got my cold storage, air-gapped, eternally quarantined computers for keeping my corns secure, I've been reading more about multi-signature setups. Previously, I've only used them for escrow contracts where they knew what they were doing and what they wanted. Those who didn't know or didn't want to risk losing all their corns had to put their entire trust in the provider (me).

In other words, something like 2-of-3 wallets, where 1 is your usual one, and the other is hardware wallet or other separate computer, and the last one is just a backup.

Then there is 3-of-5. But I believe for most people 2-of-3 works for anything of value up to around $100k USD worth of corns. 3-of-5 is being recommended for those storing 7 digits worth of corns, and using multiple hardware wallets. One from cold card, trezor, ledger ...

Personally, I would just use 1 or 2 "extra" air-gapped desktops / laptops functioning as my hardware wallet, but only because I know how to do it myself.

This goes without saying, physical security and OPSEC are just as important, but multi sig allows you to lose one key (or one device, or one wallet) and still be able to recover your coins, and it's much harder or more difficult for anyone to steal your corns, even as your main computer is compromised or infected.

[Krubster]

Yes, this time is likely different. All previous bulls were led mainly by retail, as we know. Now we have WS money in the game, and those are strong hands once they fall in love with a moneymaking machine.

In other words, the supposed ~39% dip should bring us in ~25k territory, but my gut tells me we're barely going to kiss 30k, if even. Grayscale unlocking on Feb 3 could mean the end of this correction as fresh $$ start to buy corn again. I've got to run this bunch of data through my SOMA system to be sure, though.

Yes, valid points.

I don't think we will drop ~39% either. I'm just suggesting that we can see a quick dip at the end of this correction, before going to new ATH.

I have buy orders set up at different support levels between $32,000 - $26,000, just in case.

[Biodom]

Hey guys, I know some of you may be into hardware wallets, some of you are into paper wallets, and everyone wants to secure their corns.

I've been doing some reading lately, and while I've got my cold storage, air-gapped, eternally quarantined computers for keeping my corns secure, I've been reading more about multi-signature setups. Previously, I've only used them for escrow contracts where they knew what they were doing and what they wanted. Those who didn't know or didn't want to risk losing all their corns had to put their entire trust in the provider (me).

In other words, something like 2-of-3 wallets, where 1 is your usual one, and the other is hardware wallet or other separate computer, and the last one is just a backup.

Then there is 3-of-5. But I believe for most people 2-of-3 works for anything of value up to around $100k USD worth of corns. 3-of-5 is being recommended for those storing 7 digits worth of corns, and using multiple hardware wallets. One from cold card, trezor, ledger ...

Personally, I would just use 1 or 2 "extra" air-gapped desktops / laptops functioning as my hardware wallet, but only because I know how to do it myself.

This goes without saying, physical security and OPSEC are just as important, but multi sig allows you to lose one key (or one device, or one wallet) and still be able to recover your coins, and it's much harder or more difficult for anyone to steal your corns, even as your main computer is compromised or infected.

Excellent. This would become ever so important moving forward, although all solutions have limitations so far.
How to explain the multisig to the loved ones and expect them to remember this, hopefully, later to much later?

Multisig is mostly a technical solution, but we also need some "humanized" approaches as well.
I wrote before about some futuristic stuff mixed with social. Maybe also 3 out of 5 or even more complex.
futuristic-dna sequence, iris scan, fingerprint, picture, etc., all hashed PLUS social attestation-birthday, nickname in school, mothers maiden name, maybe a pin-also ALL taken together and mixed with the futuristic stuff.

[d_eddie]

I have buy orders set up at different resistance levels between $32,000 - $26,000, just in case.

Me too. Down to 22k actually, and some old orders below 10k that never got filled. Call me a temperant degenerate if you will  

That's the reason why I doubt we can dip much lower than 30k: I'm pretty sure it is not only you and me. With the reduced flow from mining, and the exchanges low on corn, there should be enough retail-based buy pressure to provide solid support at those levels.

[cAPSLOCK]

   Nothing to see here.  Move along.

I like your chart way more than my symmetrical triangle.

[BobLawblaw]

Filled @ $34k and $33.5k. Next order @ $33k.

[cAPSLOCK]

This pullback on relatively low volume.  Interesting...

Seems impossible to imagine we are done with this cycle's run.  And bitcoins fundamentals have never been so crazy-bull.  I remember so many of these in 2017.

Wonder if we gotta bounce off the bottom of Explorer's channel?

[dieselmeister]

oh c'mon .... several huge long liquidations ... and no fiat to buy the dip ... damn...

[Dabs]

Excellent. This would become ever so important moving forward, although all solutions have limitations so far.
How to explain the multisig to the loved ones and expect them to remember this, hopefully, later to much later?

Multisig is mostly a technical solution, but we also need some "humanized" approaches as well.
I wrote before about some futuristic stuff mixed with social. Maybe also 3 out of 5 or even more complex.
futuristic-dna sequence, iris scan, fingerprint, picture, etc., all hashed PLUS social attestation-birthday, nickname in school, mothers maiden name, maybe a pin-also ALL taken together and mixed with the futuristic stuff.

There are a couple of multi-sig wallet provider services, such as Casa and Unchained Capital (there are a few more, but I forget who they are). I would dispose of the biometric stuff. You want your corns sovereign, meaning it can be recovered with easy to understand instructions.

In Casa's case, they work like this:

3 of 5

1 key on the client’s mobile phone
1 hardware key kept at home
1 hardware key at a separate location, such as an office
1 hardware key kept in a third location, such as a safety deposit box
1 emergency backup key kept by Casa

2 of 3

1 key on the client’s mobile phone
1 hardware key kept by the client
1 emergency backup key kept by Casa

I think they have some low cost service and a free trial, but I would prefer to do it myself, and the final key I simply put it encrypted in the cloud OR buried and hidden.

Unchained has a free setup but charges $20 for individuals if requested to sign. That's kinda like multi-sig insurance.

The important thing for any multi-sig setup is to have multiple copies of ALL public keys, or extended public keys, not just 1 or 2. While you only need 2 or 3 signatures to move corns, you need all public keys too.

Links:
https://docs.keys.casa/wealth-security-protocol/
https://unchained-capital.com/vaults/