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

[ChartBuddy]

Explanation

[JayJuanGee]

Also note: the lop-sidedness of this particular seemingly too short of a deadline vote remains quite apparent, it is almost as lopsideness of the logic of the blocksize debate.. (had to get a lil dig in there at Richy_T) go figure..

It was just a quick straw poll. Didn't want to make a huge production of it. I was just heading out to play in the pool for the first time and was planning on coming back in at 5

Hopefully, at some point, you can just cross ChartB into more of a quasi-permanent fixture rather than what you mentioned as 72 hours, and I am not sure what the purpose of keeping the topic alive about want or not want or whatever, because it does seem that the overwhelming majority of regular WO participants either want chart buddy or they are not against chart buddy.. and the one member who is voicing so much opposition to chart buddy is a bit of a drama queen himself.. so hardly reflective of normal kinds of consensus matters.. and sure you, Richy, might be able to relate to such an outlier view and also you are probably having some internal desires NOT to cooperate too.. so anyone says a mean thing and .. whatever.. I said enough.. I am repeating myself anywhooo, no?

By the way, getting back to price discussion a bit.. sure, I understand that the price could go either way..,. but to me, it seems that we are largely in rebounding mode, currently.  I personally would like to suggest that if we do get more DOWNity from here, then likely some of the motivation for that would be to really beat up on some of the shitcoins. they deserve to be beat up quite a bit, especially after the amount of pumpening pure crap had been seeing in the past couple of weeks.

For sure, justice is not always served, so it really seems quite difficult to say how to get some balance back in the BTC price - no matter which way it goes with seeming a certain amount of the scale seeming to weigh on the side of a "weee- bit" more rebounding from here.. and we know that bitcoin no does not like "wee-bitting anything.., but still does not mean that we will not necessarily witness some more violence.. which might be in the air  - of course I am referring to price movement stuffs.. not other kinds violence - since even bitcoiners might be watching more TV than what is good for their lil selfies..

[jojo69]

[xhomerx10]

Chartbuddy Yes

If this post has more merits than the Chartbuddy No post by 5PM Central today, I'll turn Chartbuddy on for 72 hours.

I'll have Chartbuddy merit everyone back on both posts (up to 200 merits total)

wow, a bot that runs on merits

 Meh.  We already had one in JJG.

[Toxic2040]

the evening wall report

Bitcoin continues to show signs of recovery from the dip and seems well on its way to establishing a support zone around $40kish

#dyor

1h


4h


D

#stronghands

[Hhampuz]

Stable $40k through the summer would be alright with me and then a giant WICKED green candle taking us to the moon ($100k) and above in mid-late September.

[bkbirge]

Today's scheduled FUD attack...
https://www.msn.com/en-us/autos/news/elon-musk-just-highlighted-the-biggest-problem-with-bitcoin/ar-AAKbSZ4?ocid=msedgntp

Essentially, people who are buying Bitcoin aren't buying a currency--they're buying the hype. The problem is, when the hype is based on one person--even if you think he's the smartest person on earth--it's a really bad idea.

[Richy_T]

By the way, getting back to price discussion a bit.. sure, I understand that the price could go either way..,. but to me, it seems that we are largely in rebounding mode, currently.  I personally would like to suggest that if we do get more DOWNity from here, then likely some of the motivation for that would be to really beat up on some of the shitcoins. they deserve to be beat up quite a bit, especially after the amount of pumpening pure crap had been seeing in the past couple of weeks.

As long as we are not back in something like that never-ending bear market we had before where any long, slow upward gains at all were always answered with a quick tumble but the general outlook was a perpetual slump.

Could be though.

[xhomerx10]

My tolerance for whining is zero right now so I shut Chartbuddy off. I notice also that the price dropped after I did so so draw your own conclusions.

... turn it back on, it's just some stupid old norwegian curmudgeon who a) creates dramas so people will talk to him and break his sad loneliness and b) is too stupid to ever being able to figure what the CB 3d Wall means frustrates the hell out of him

... hourly and more frequently during high percentage price moves please 

Norwegian?

 It'll become obvious once he sees you partying hard on June 6th.

[ChartBuddy]

Explanation

[Swordsoffreedom]

Bitcoin is making a new pathway towards 50K again after the Biggest selloff of this year, near around 20% price gain since Yesterday..
What about shitcoin hodler!!

[Biodom]

take the info with a grain of salt (I just post the link), but I never trusted that company enough to give them my btc.
I also never trust anyone with the name Zack, especially if he wants to give me an IOU but that's just me.

https://www.reddit.com/r/Bitcoin/comments/nheh5z/warning_blockfi_having_lost_millions_of_dollars/

EDIT: others on the same thread claim that everything is peachy. Maybe, it is just FUD (by competitors), but I still do not trust those services. At some point they might go insolvent, imho. It could take a a while, though.

[JayJuanGee]

the evening wall report

Bitcoin continues to show signs of recovery from the dip and seems well on its way to establishing a support zone around $40kish

#dyor
 
#stronghands

But what about the resistance at $42k and $43k?  Why u no mention that part?

 

Stable $40k through the summer would be alright with me and then a giant WICKED green candle taking us to the moon ($100k) and above in mid-late September.

I can almost guarantee that is NOT going to happen.

You think that bitcoin goes from correcting more than half of its value.. then wicking down $20k in a couple of days.. bouncing back up $10k in more or less one day and then just getting stuck at that price point?

Your proposal hardly makes no senses.. except maybe in a fantasy factual landscape.. and probably you would admit that it hardly makes no senses if you thought about what you are actually proposing.

By the way, getting back to price discussion a bit.. sure, I understand that the price could go either way..,. but to me, it seems that we are largely in rebounding mode, currently.  I personally would like to suggest that if we do get more DOWNity from here, then likely some of the motivation for that would be to really beat up on some of the shitcoins. they deserve to be beat up quite a bit, especially after the amount of pumpening pure crap had been seeing in the past couple of weeks.

As long as we are not back in something like that never-ending bear market we had before where any long, slow upward gains at all were always answered with a quick tumble but the general outlook was a perpetual slump.

Could be though.

It is possible that we could be at the beginning of a bear market that lasts a couple of years - but surely would be a bit of a challenge to our currently valid BTC price prediction models in a variety of ways in terms of both 1) having a top and then a correction coming around 6 months earlier than expected playout time, and 2) having a peak that surely did a 5-6x increase in about 6-7 months and then a largely flat peakening that was pretty damned flat for the final three months of the peakening.

I am surely NOT even suggesting that both of those dynamics could not end up playing out in bitcoin for this cycle, but it is almost like wishful rather than likely in terms of what we have historically seen in this asset class - and seems to want to wish premature maturity on bitcoin.. which just does not logically add up.

Plus so much ongoing froth in the associated space, and surely you are NOT going to get me agreeing that the tail is actually having any kind of leader affect on the dog - so even a scenario in which there seems to be so much imbalance that needs to be purged, a combination of dumb money and smart money seems quite unlikely to fail to recognize distinguishing attributes of bitcoin, even if so much of the space ends up getting filled up with misinformation and disinformation in regards to bitcoin.. there are a lot of smart people out there in regards to bitcoin, and not all of them are going to be drug into the dumb.

[Hhampuz]

Stable $40k through the summer would be alright with me and then a giant WICKED green candle taking us to the moon ($100k) and above in mid-late September.

I can almost guarantee that is NOT going to happen.

You think that bitcoin goes from correcting more than half of its value.. then wicking down $20k in a couple of days.. bouncing back up $10k in more or less one day and then just getting stuck at that price point?

Your proposal hardly makes no senses.. except maybe in a fantasy factual landscape.. and probably you would admit that it hardly makes no senses if you thought about what you are actually proposing.

You act as if the correction and rebound makes sense 

[Biodom]

But what about the resistance at $42k and $43k?  Why u no mention that part?

You always seem to fight my opinion (directly or indirectly) without providing anything even remotely close to a prediction, but I turn out to be more right than wrong and you more wrong than right, like during much berated "stall" between Feb and May.
Why is that?

It is because you are all entertainment, and I like facts/science and interesting thinkers.
Are you into burlesque or something like that?

[ChartBuddy]

Explanation

[Raja_MBZ]

I think I should let y'all know my current position in BTC: 0.

I got completely out at ~$50k and will load back whenever the 200 Week Moving Average trend line is touched (currently at ~$12.5k but going up rapidly). This could take a year or more; I'm fine with it.

I'm currently sitting at ~5x my 2018 ATH, so I'm not really worrying about the price going up or down at this moment. Just chillin' out & providing liquidity to Uniswap's USDC/DAI pair.

...and yes, I think we've entered the bearish territory.

Non-financially though, I'm *still* in a lot of trouble.

[cAPSLOCK]

I think I should let y'all know my current position in BTC: 0.

I got completely out at ~$50k and will load back whenever the 200 Week Moving Average trend line is touched (currently at ~$12.5k but going up rapidly). This could take a year or more; I'm fine with it.

I'm currently sitting at ~5x my 2018 ATH, so I'm not really worrying about the price going up or down at this moment. Just chillin' out & providing liquidity to Uniswap's USDC/DAI pair.

...and yes, I think we've entered the bearish territory.

Non-financially though, I'm *still* in a lot of trouble.

Wow, buddy... This one has a real chance of launching you into being the next Mindrust.

[JayJuanGee]

Stable $40k through the summer would be alright with me and then a giant WICKED green candle taking us to the moon ($100k) and above in mid-late September.

I can almost guarantee that is NOT going to happen.

You think that bitcoin goes from correcting more than half of its value.. then wicking down $20k in a couple of days.. bouncing back up $10k in more or less one day and then just getting stuck at that price point?

Your proposal hardly makes no senses.. except maybe in a fantasy factual landscape.. and probably you would admit that it hardly makes no senses if you thought about what you are actually proposing.

You act as if the correction and rebound makes sense 

You think so?

We can look at events that have already happened, and even if we cannot make sense out of them exactly regarding either why or what might have caused, but the mere passing of difficult to decipher recent happenings should not suggest that we throw all reason out the window.

Seems to me that reasonable models can still account for the possibilities of outlier happenings, but we should not be starting with the outlier happenings as our base and ignoring more likely scenarios, should we?

For example, I will concede that some of the strange events around March 2020 caused Armageddon scenarios to become way more probable.. so instead of 1% or 2% odds, they became 10% or more.. maybe even up to 20%.. perhaps? but still I am not starting with Armageddon for my future planning of what I believe is going to happen, even though I am going to give a higher percentage to it playing out... but if I am prudent, I should still be attempting to plan around more likely scenarios.. and have higher levels of preparation for Armageddon.. rather than putting more than 10% of my preparations into it.. and sure 20% worse case scenario.

By the way, maybe the scenario that you outlined has a 5% chance, so even though I said that I am guaranteeing your scenario NOT to happen, there still remains something like a 5% chance that I could lose... yes.. our numbers might differ and if you value the scenario at greater than 50% (which I would almost wager that you do not), you may well be prepared to take the bet... which you won't (not that we specified terms).

But what about the resistance at $42k and $43k?  Why u no mention that part?

You always seem to fight my opinion (directly or indirectly) without providing anything even remotely close to a prediction, but I turn out to be more right than wrong and you more wrong than right, like during much berated "stall" between Feb and May.
Why is that?

Because you are selectively remembering whatever dumb shit that you said.

 

It is because you are all entertainment, and I like facts/science and interesting thinkers.

Through our many interactions over the years, i have also discovered that you mostly are not putting your book on such dumb nonsense that you spout out on a regular basis - except it does seem to me that you frequently underinvest in bitcoin and then you whine when the BTC price goes up more than you anticipated that it would. 

Hopefully you were able to pick up some coin on this latest dip and you are not failing and refusing to pee pare ur lil selfie enough for UPpity regarding where we are at currently because you are so involved in hopium for a dippening that might not happen.

Are you into burlesque or something like that?

sure.. I like burlesque.. but not in the way that you seem to be framing questions of BTC price dynamics, such as where we are at, where we might be going and what peeps should do to plan and prepare themselves in such context.  That is certainly not burlesque.. except maybe pointing out some of your wannabe correct nonsense from time to time.

[Raja_MBZ]

~snip~

Wow, buddy... This one has a real chance of launching you into being the next Mindrust.

Haha, so is he still a no-coiner? It'd have badly hurt to see all the epic parabolic action being designed by a number of institutional investors.

I'm pretty much a no-coiner too right now, & literally, all of my "poor" friends in Pakistan are currently coiners (most of them bought above $50k). But I'm in a position that even if it keeps going up, $100k or $200k, I'll just cheer for y'all!

The chart pretty much looks topped out to me, so I'm keeping my George Washington papers.