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

[OutOfMemory]

Sick to see these sellwalls grow on this dump. Playing into the hands of accumulators and bearwhales.

EDIT: Who thinks we're going down a second time today? I'm twisted.

Lol, who do you think put the sell walls there?  

I don't think they'd set them this deep. Wouldn't make a lot of sense (or money).

EDIT: Let me refine. Why would they sell a bunch to trigger SL and panic sells, to buy in lower again and then set up sells slightly above their buy levels?

[Wekkel]

How do you determine that the Bitcoin price is not overvalued?

I tend to look at various (long term) indicators which may give guidance on this point.

https://charts.woobull.com/bitcoin-mvrv-ratio/#:~:text=MVRV%20is%20simply%20the%20ratio,spotting%20market%20tops%20and%20bottoms.
https://charts.woobull.com/bitcoin-nvt-price/
https://charts.woobull.com/bitcoin-vwap-ratio/
https://charts.woobull.com/bitcoin-price-models/

The Mayer Multiple is also a good one.

https://www.buybitcoinworldwide.com/mayer-multiple/
https://charts.woobull.com/bitcoin-mayer-multiple/

But in the end it's also about your own gut feeling. A simple rule could be: when in ultra bull market phase, think about selling some if price doubles again within 3 weeks.

No worries, were not in 'ultra bull market phase' yet.

[OutOfMemory]

Because some of us are still used to 2017 pump levels. I made that mistake, too.
But JJG got me straight again 

[Wekkel]

did some reading on the Gain-Of-Function research in science and I'm shocked now. since several years mankind is on the way to destroy themselves by Gain-Of-Function research and tweaking all kind of viruses. a second way to destroy themselves besides nuclear weapons.

The best thing: the guy supervising this dangerous stuff is also in charge of (US) COVID policy.

The crazy are running the asylum.

[samson]

Sick to see these sellwalls grow on this dump. Playing into the hands of accumulators and bearwhales.

EDIT: Who thinks we're going down a second time today? I'm twisted.

Lol, who do you think put the sell walls there?  

I don't think they'd set them this deep. Wouldn't make a lot of sense (or money).

EDIT: Let me refine. Why would they sell a bunch to trigger SL and panic sells, to buy in lower again and then set up sells slightly above their buy levels?

To drive the price down and force 'those inclined to panic' to sell into their bids.

Classic 'bear raid'.

[OutOfMemory]

did some reading on the Gain-Of-Function research in science and I'm shocked now. since several years mankind is on the way to destroy themselves by Gain-Of-Function research and tweaking all kind of viruses. a second way to destroy themselves besides nuclear weapons.

The best thing: the guy supervising this dangerous stuff is also in charge of (US) COVID policy.

The crazy are running ruining the asylum.

FTFY

[OutOfMemory]

Sick to see these sellwalls grow on this dump. Playing into the hands of accumulators and bearwhales.

EDIT: Who thinks we're going down a second time today? I'm twisted.

Lol, who do you think put the sell walls there?  

I don't think they'd set them this deep. Wouldn't make a lot of sense (or money).

EDIT: Let me refine. Why would they sell a bunch to trigger SL and panic sells, to buy in lower again and then set up sells slightly above their buy levels?

To drive the price down and force 'those inclined to panic' to sell into their bids.

Classic 'bear raid'.

Now i got what you mean. Yes, should add to the momentum, too.

EDIT: But as a bull i think to myself: "great, more cheap coins at (almost) fixed, lower prices instead of climbing up the bidding ladder".

Turns out, i'm not gifted much in taking the view of a bear 

[_javi_]

https://www.reuters.com/article/uk-india-cryptocurrency-ban-idUSKBN2B60QP

Latest round of FUD; India looking to ban crypto which we've known for some time now... People dump for the stupidest reasons. If India wants to shut themselves out of a revolution, that's their bad luck

Old news.

https://www.business-standard.com/article/markets/india-will-not-shut-off-all-cryptocurrency-wants-blockchain-sitharaman-121031400754_1.html

India’s Finance Minister, “We will allow a window for people to use Bitcoin and experiment”

https://twitter.com/i/status/1371247856821141507

[samson]

Now i got what you mean. Yes, should add to the momentum, too.

EDIT: But as a bull i think to myself: "great, more cheap coins at (almost) fixed, lower prices instead of climbing up the bidding ladder".

Turns out, i'm not gifted much in taking the view of a bear 

Oh yes, I've seen it all before many years ago on MtGox. Massive sell walls popping up after huge dumps which slowly but surely move down in price pushing any trade towards a huge bid just sitting there waiting a bit further down the order book.
 
Pure manipulation of course.

The goal is as far as I'm concerned always to get more coins, even for the bears, they just want them cheaper to dump higher....

[BobLawblaw]

Why do you think that you know anything about my situation?
It all a bunch of baby-talk gobbledygook.
You try to read too much into people and it is misfiring 100%, at least in my case.

I wish I could manifest my wallet.dat into the form a bludgeoning device, and just go to town on JJG.

Holy crap, and I thought I had a bad meltdown a while back over "Fight Club"...

[LFC_Bitcoin]

Feeble attempt to dump us significantly. Diamond handed HODLERS not affected. If this kind of price movement worries you enough to cuckold into selling then you don’t deserve the great riches that are coming to us.

We’ll be back to over $60,000 by the end of the week. Pedo Joe’s shitcoin ($) airdrop is landing in US accounts any day now.

#HODL

[OutOfMemory]

No worries. It cuckolded me into buying instead

[brokedummy]

Need to finish this week over 70k or I'll probably have to give up my silly dream of home ownership. It's annoying because I have to move out of my apartment either way at the end of May and would rather not move twice but I guess it's not in the cards.

[somac.]

Markets selling off due to bogus data saying $1b of BTC flowing into Gemini.

It's the 2nd time it's happened in the last 30 days.

Chart: leverage positions getting liquidated as traders sell off. Red dots showing the timing of the fake inflows. (28k and 18k BTC respectively)

https://twitter.com/woonomic/status/1371418824499630081

[ivomm]

In case you have wondered what a weak-hand's face looks like, while seeing a 5% dip:



It requires the highest level stupidity to make a loss on the eve of one of the most memorable bull runs in Bitcoin history. HFSP

[Richy_T]

You folks are scaring me.

* nullius checks his ticker.

1 BTC = 1 BTC.  Ah, what a relief.

(The dollar got a bump up to 1720 sats; but the bubble can’t hold.  Yawn.)

Whenever you start to get worried about Bitcoin, you can just wait a couple of hours and some government somewhere will do something stupid.

[proudhon]

Now that India has wisely banned bitcoin, we should see many strong countries follow which will only hasten the confirmed collapse of bitcoin.

[hv_]

Now that India has wisely banned bitcoin, we should see many strong countries follow which will only hasten the confirmed collapse of bitcoin.

I guess they not really did not, but go regulation

[Wilhelm]

Need to finish this week over 70k or I'll probably have to give up my silly dream of home ownership. It's annoying because I have to move out of my apartment either way at the end of May and would rather not move twice but I guess it's not in the cards.

Keep the BTC and buy a mansion in 4 years...

[vapourminer]

Now that India has wisely banned bitcoin, we should see many strong countries follow which will only hasten the confirmed collapse of bitcoin.

my body is ready for maths and science to do its thing.