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

[OutOfMemory]

Maybe tell Rick that this is the one life he got to live, nobody knows how long it's going to last, and he should think about respectfully using this gift instead of thinking about cost-overruns. Maybe try to find out his dream and help him realize it, too. He has to switch modes from wage-slave to retired-and-rich-as-fuck.

Yeah, it seems that anyone is still going to need to account for budgeting decisions and to keep track of moneys, especially the larger purchases.. so for example, if based on finances, there was a decision to buy 200 acres, and then after considering the physical layout and various practicalities of "wanting more", there was a decision to buy an additional 40 acres, sometimes larger purchases are going to trigger a need to reconsider financial matters, and if there was enough money in the petty cash fund to cover the 40 acres, then there might be questions about replacing money in the petty cash funds to cover such a likely large withdrawal.

Sure, sometimes there still can be assistance from accountants, but still there might be some considerable difficulties to completely forget about money and just live in a way that is "rich as fuck."

I don't claim to be any kind of expert in regards to figuring out how to spend some moneys, and sure there could be a certain amount, such a $1million or $2million that ends up going into a "do whatever you like" fund, and but I really doubt that the whole budget can be ignored, even if there were $100 million in the fund, if you go out and start buying yachts and planes without really considering maintenance costs and staffing costs, the funds could get depleted if they are not categorized and attempts are made to contain some costs.

I agree. A "want anything" mindset is not the same as "rich as fuck" (RAF).  
My priorities would be ordered like:
 
1. Fulfill dreams
2. Leave out the useless things (=not-dreams)
3. Constant balancing of these two priorities.

Many RAF people just want to show off, experience the unexperienced and also want to be adored for their richness. The latter would manifest in things like (many) gold plated supercars, buldings designed by the most expensive architects in the world, private spaceships (SCNR), stuff you don't really enjoy, but more just play with.

A fishing bay, a racetrack, modern fence, kettle... seem more like sane but still exclusive things to (really) enjoy.
That's two different pairs of shoes, as a popular saying in my home country goes.

[Elwar]

Annoying. I just went over to Tesla to pick up a used Model S (there are no new ones) and they want this "Credit card" thing.

No clue what's up with that.

I had to set VPN to the US to get the Bitcoin option. Even after choosing US as the location.

[dieselmeister]

Weird, when we have an inverse shampoo pattern or a W, we had a breakout, but this was completely sold back. We have 4k candles in the 5 minutes Charts. Sorry but that is not normal. Are Bots in some kind of war currently?

[El duderino_]

https://twitter.com/MarcusConnorNH/status/1374720670190428163?s=20

Awesome beautiful .... 

Creator of the BTC rollercoaster, improved the original for the occasion

[OutOfMemory]

Weird, when we have an inverse shampoo pattern or a W, we had a breakout, but this was completely sold back. We have 4k candles in the 5 minutes Charts. Sorry but that is not normal. Are Bots in some kind of war currently?

More bots playing on the market for sure.
But patterns are some kind of "oldschool" stuff that might not work well with crypto.

I think i experienced about half of the expected outcomes of the patterns i know.
A pattern is a hint, or hope for, not a guarantee for a certain market movement.
We're at the old probability issue again...

[JayJuanGee]

It's totally natural market behavior, that we dump without any bad news.

That be called Koreck.

Get used to it.. This be called bitttttcoinening.

We have even awesome news, but we go down.

That be called Koreck.

Get used to it.. This be called bitttttcoinening.

That's a totally natural market behavior of a huge number of diversified market participants. I am totally sure of it. Someone mentioned a decline of shot positions whilethe market goes down. He mentioned also manipulation through high frequency trading... But I think, it is totally normal, that the market is selling of in a bull run with extrem bullish news. Sure... End of ranting.

That be called Koreck.

Get used to it.. This be called bitttttcoinening.

I am sad, because have no fiat for buy the dip.

While that is too fucking bad.

Did anyone ever tell you to ONLY pee pare ur lil selfie for UPpity ONLY?

That is a fucking ridiculous position to be in, especially that we are hardly even reaching a 15% price correction, yet.

Maybe we will get to a 15%, maybe not?

Maybe we will get to a 30%, maybe not?

Maybe we will get to a 50%, maybe not?

U has gots to be pee pared for these kinds of market corrections with dee king daddy.

They be completely normal.. even if der be some positive newses.

snap ur lil selfie out of it..

We are still in the $50ks, which is still a 5x increase in BTC's price since early September.. and if we were to drop to $20k or something like that, we would still be around 2x up from our September 2020 prices... not a bad place to be if you zoom out, but if you are ONLY pee paring ur lil selfie for one price direction, you are bound to be setting up yourself for disappointment both psychologically and financially.

Good luck.. seems like ur going to be needing it.

 

[brokedummy]

expiration week fuckery only explanation for this. they'll cover these shorts after they load up on calls for next months expiration day

[cAPSLOCK]

Eek.  If my line is right... we are in for some rough waters...

*edit* On the daily we are still good... barely.

[Hhampuz]

Eek.  If my line is right... we are in for some rough waters...

Share your lines, damnit!

[OutOfMemory]

Eek.  If my line is right... we are in for some rough waters...

Share your lines, damnit!

Scroll to the up 

[somac.]

Jesus those of you in the US session are a bunch of scardy girly man. What's with all the selling all the time?

[JayJuanGee]

Eek.  If my line is right... we are in for some rough waters...

Almost certainly your line is NOT correct.

It couldn't be.

It couldn't be.


I am not going to believe it for even one minute..


until after it has already happened.. then maybe?



Maybe I will say:  "What just happened?"  Maybe?

[AlcoHoDL]

[...]

I agree that doubling (or some other significant increase) does seem to be pretty likely with whatever value is remaining in bitcoin.. .. surely not guaranteed.. but in the ballpark of decent odds.  On the other hand, I have some difficulties in conceptualizing the spending of value before I have it, but whatever, I am playing a broken record if I were to go down that path at this point.

 

Yes, I do believe that Bitcoin current price doubling in 2021 is a very probable outcome indeed, maybe even bearish for many WOers. I would say that reaching (and maintaining) a price level above $100k by the end of 2021 would be an outstanding performance, and will surely become life-changing for many of us.

It's getting so good it's almost scary!  

[somac.]

Eek.  If my line is right... we are in for some rough waters...

Share your lines, damnit!

Scroll to the up  

you're resistance is incorrect, we never went through it. Price currently at support line. On chain analysis however says that solid support is at at 47k level.

[OutOfMemory]

Eek.  If my line is right... we are in for some rough waters...

Share your lines, damnit!

Scroll to the up  

you're resistance is incorrect, we never went through it. Price currently at support line. On chain analysis however says that solid support is at at 47k level.

Yes, i admit.
But i posted the same lines yesterday, and also said they're not precise and i didn't adjust them for longer time.
However, i doubt that we are going to test the strong support at the time. Still missing buying pressure, though.

[dieselmeister]

Bla bla

How many percent from 58k to 42k did we correct? If I am correct, that's more than 15%. But maybe you math is another than mine.

All the Bla and you missing my point.

[dieselmeister]

I was so excited when Tesla announced they gonna keep hodling BTCs.
Why is the price still going down despite the big announcement?

Went from 56$k to 54k$ 

Sell the rumor buy the news.. or something.

But was it even news? When I saw it this morning it felt like this was already "out", no?

Not the fact that Tesla takes Bitcoin. That were old news. The fact, that they have an own node and hold the coins. That were the awesome news.

[cAPSLOCK]

Eek.  If my line is right... we are in for some rough waters...

Share your lines, damnit!

Scroll to the up  

you're resistance is incorrect, we never went through it. Price currently at support line. On chain analysis however says that solid support is at at 47k level.

Yeah... I updated it... but we are hanging on my a fingernail.

[JayJuanGee]

[...]

I agree that doubling (or some other significant increase) does seem to be pretty likely with whatever value is remaining in bitcoin.. .. surely not guaranteed.. but in the ballpark of decent odds.  On the other hand, I have some difficulties in conceptualizing the spending of value before I have it, but whatever, I am playing a broken record if I were to go down that path at this point.

 

Yes, I do believe that Bitcoin current price doubling in 2021 is a very probable outcome indeed, maybe even bearish for many WOers. I would say that reaching (and maintaining) a price level above $100k by the end of 2021 would be an outstanding performance, and will surely become life-changing for many of us.

It's getting so good it's almost scary!  

I doubt that we are very far apart in the way that we are considering this matter, AlcoHoDL, but it still does remain a quite interesting topic because it is somewhat concrete in the sense of both being relevant to this thread and also a question that each one of us should be attempting to figure out in terms of what are we going to do if "it" or some variation of "it" happens whether that be "it" at 2x of current price or the variations of "it" that put additional multiples upon lower and higher expectations of the range.

Sure, if some of us have already been through bubbles in the past, we might be better prepared in terms of both our expectations but also in terms of our already having had established a decent HODL stash (and profit levels) that gives us more options.

Maybe even if I might assert that there is only a 35% chance of 2x from here (which brings us to around $110k), but once the $110k happens or we get close to the $110k, then the higher numbers ranging anywhere between $111k and $1.5million become more and more likely because we had ended up crossing some of the higher thresholds that needed to get through in order to allow for some of the higher numbers to become more possible, so in the end, there does not end up being a great difference between reaching some of the higher thresholds once some of the lower thresholds had been achieved.

Still sticking to my earlier point about not counting my chickens before they are hatched, perhaps I have a bit of a character flaw, but I do still like to consider my plans around the ongoing rising of the 208-week moving average rather than getting too worked up about price peaks that may or may not happen, and such price peaks really do not cause me to do anything other than what is already in my plans to structure various sales on the way up on an ongoing basis, but the rising of the 208-week moving average seems to motivate me in terms of my ongoing increasing budget in terms of what I am able to cash out on a regular basis in terms of wherever that number happens to be.  Currently, the 208-week moving average is at about $10,200 and it seems to be going up at about $200 per day week[edited whoops].

Sure for some folks the 208-week moving average is NOT going to be enough for them, and they are going to get all worked up about tops but still NOT know what to do because they do not want to be prematurely cashing out into fiat, but for me, the 208-week moving average provides a guilt free amount that I can cash out no matter what the price... and sure, if I were to cash out (still talking theory here because I have not really been cashing out in any kind of meaningful or material way), I can still be authorizing myself an amount to cash out (whether it is for the month, quarter or year), and then attempt to time a BTC price peak for the cashing out, but not get too worked up either, if the peaks are not met (so long as I am not cashing out more than the authorized amount and I am not cashing out when the BTC price might be at or below the 208-week moving average.  So in that sense, the 208-week moving average becomes a very comfortable place because it is ongoingly and continuing to move up and it is moving up in dollars in amounts that are increasingly higher and higher giving me more and more assurance about the various richie cushions that I feel that I have.

Regarding other peeps.. I have tentatively come to a conclusion that it is quite likely that many normies are going to need to go through at least a couple of bitcoin cycles before they would have been able to either accumulate enough bitcoin or to have been  in the game for a long enough time that the BTC price appreciates enough to both give them a high enough cushion or at least to have transformed from normie status to regular richie status and then to not giving a fuck richie status which surely does seem to be better to get to the not giving a fuck richie status rather than being in either of the the lower two rungs.. which also might not be a bad place to be but getting to the actual not giving a fuck richie status does seem to be a more comfortable place that many of us want to achieve and aspire to and then the greatest problems become regarding how to manage and maintain the funds to keep the status rather than worrying about whether we are going to reach such status.

By the way, I do appreciate that there could be some guys who really struggle with cashflow issues, and it may well take them more than 2, 3 or 4 cycles to actually get to either regular richie status or not giving a fuck richie status.  I doubt that some of the matters can be rushed especially if a guy might have only $20 to $50 per month that he would be able to put into bitcoin, and then maybe over the years, he has to continue to try to figure out if there are ways to either cut down spending or to increase income in order to get the monthly bitcoin allocation to higher levels.  So, yeah, sometimes there may be some real world factors that make it really difficult to really acquire a meaningful and material position in bitcoin that transforms a regular guy to either richie status or to not giving a fuck richie status.

[xhomerx10]

Eek.  If my line is right... we are in for some rough waters...

*edit* On the daily we are still good... barely.

 Stop doing whatever it is you're doing!  You're making Bitcoin fall!

 edit: it looks like that line you drew might be support again.  Seems to be oscillating over it.
 edit2: shit.  Anyway, I wont be able to watch - I have to go to work