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

[ChartBuddy]

Explanation

[1713582784]

1713582784

[1713582784]

1713582784

[1713582784]

1713582784

[DaRude]

Oh dear..


https://twitter.com/WorldCryptoNet/status/495715681132765184

Top line of the cited article reads "19:03 01.08.2014 (oбнoвлeнo: 00:35 02.03.2020)" google translated "19:03 08/01/2014 (updated: 00:35 03/02/2020)" a bit outdated i'd say

Regardless, ultimately i see this as a path of least resistance. My world view is that whatever stand the "west" (US/Europe) takes on BTC, east must take the opposing side, and vice versa. No one wants to loose monopoly over their currency, but then the enemy of my enemy... comes into play, if my enemy stands to loose more it's a net positive for me. The ball seems to be on the "East" side, on one hand they're fighting currency outflow and have currency controls in place, so BTC is a natural enemy, on the other they'd love to diversify trade from the petrodollar. I expect China truly banning BTC will force US's hand to embrace BTC and adopt ETF (while of course enforcing taxation). And at current stage Russia is no player and will just blindly follow China. This outcome is preferred for BTC adoption vs China embracing BTC which would force West to fight it as the currency of terrorists/pornogrophers/druggies.

[nutildah]

Whoa, its the Chart Buddy.

So what's the consensus here, lower or higher low?

[philipma1957]

Are we still in denial or moving to anger? Probably the latter with China/Russia being the culprit yet again.
The funny thing is that China/Russia wants to suppress bitcoin because it represents freedom and dummies on the West suppress it because it represents China somehow?!
WTF

get some on sale

I am set at:

 33033
 32032
 31031
 29029
 28028
 27027 3x buy in

[Elwar]

So...2013 repeating it is then. Enjoy the slow summer. Look forward to October.

[Gatorelf]

So...2013 repeating it is then. Enjoy the slow summer. Look forward to October.

Kinda seems that way now

[Biodom]

I am still confident in Bitcoin in the long-term and even on this bullrun. I really don't think we had the top at 65K before the bearmarket.

BUT

We should to admit that this dump from 60K without any really bounce till 30K is huge, and no one expected this. And came very fast. This happened just after an only 3x ATH. It is not if it appeared after a X10+ from ATH.

In addition, we still don't know if the bottom is printed. If we go to 25K$ish, or to previous ATH (or even below.. can't imagine) now, how the market and the cycle will react ? I mean the Daily, weekly and monthly are already ugly now.

We should accept that we never saw this kind of DIP in a BTC bullmarket (proportionally).

HODL.

never? check out that 2013 bull run..$250 in April, then $65 in July.
The structure looks very similar...so far, albeit the move from Jan to April is shallower in 2021 and so is the dip (so far).

[serveria.com]

So...2013 repeating it is then. Enjoy the slow summer. Look forward to October.

Not quite... IMO every bullrun is unique so we can't say what awaits us later this year... we might as well go straight to the moon after this dip... or slowly bleed until August-September and then start a facemelting rally from there... noone knows... 

[OutOfMemory]

Bring the pain! 

Bob hit the best moment to sell some of his stash for building his ranch. Congrats!
Now let's all sit back and watch. We are Hodlers, aren't we? 

[ivomm]

Nothing dramatic has happened. Yes, the dip can be called a crash, but I don't think that it will have a negative impact on the bull market. I still think we are on the way to 100K this summer. Hopefully this dump is caused by  Moron Musk. He may be selling his coins on a loss now. I'm sure he feels no shame or guilt, since he is an aspburger imbecile. But we need to get rid of this cancer as soon as possible. Anyway, from my observations since 2017 any daily 30% crash is finished when there is a 25%+ recovery. In our case we need to get to 37.5K to be safe. And in several days something like a double bottom around 33K-35K will seal the end of the correction. And during the writing this has happened, so cheers, we are out and free to go up! I hope for no double bottom this time

I guess we are in the bold part now. I really don't know why practically every big recovery which I've witnessed so far follows that patter. I guess the answer is the infinite pain of the trend followers losing their last satoshis. RIP morons. Strong hands as always - rejoice, the path to 100K and beyond is wide open!  

[gallianooo]

I am still confident in Bitcoin in the long-term and even on this bullrun. I really don't think we had the top at 65K before the bearmarket.

BUT

We should to admit that this dump from 60K without any really bounce till 30K is huge, and no one expected this. And came very fast. This happened just after an only 3x ATH. It is not if it appeared after a X10+ from ATH.

In addition, we still don't know if the bottom is printed. If we go to 25K$ish, or to previous ATH (or even below.. can't imagine) now, how the market and the cycle will react ? I mean the Daily, weekly and monthly are already ugly now.

We should accept that we never saw this kind of DIP in a BTC bullmarket (proportionally).

HODL.

never? check out that 2013 bull run..$250 in April, then $65 in July.
The structure looks very similar...so far, albeit the move from Jan to April is shallower in 2021 and so is the dip (so far).

We were at 13$, december 2012. 260$ The 11th april 2013, so X20 in 4 months... We cannot compare with 2021. If we compare it would mean that BTC would be at 3K$ in december 2020. We were at 20K..

[luckygenough56]

[OutOfMemory]

This is the first time i realize that this dude is looking fucking stoned.
Or am i just projecting?  

Nothing dramatic has happened. Yes, the dip can be called a crash, but I don't think that it will have a negative impact on the bull market. I still think we are on the way to 100K this summer. Hopefully this dump is caused by  Moron Musk. He may be selling his coins on a loss now. I'm sure he feels no shame or guilt, since he is an aspburger imbecile. But we need to get rid of this cancer as soon as possible. Anyway, from my observations since 2017 any daily 30% crash is finished when there is a 25%+ recovery. In our case we need to get to 37.5K to be safe. And in several days something like a double bottom around 33K-35K will seal the end of the correction. And during the writing this has happened, so cheers, we are out and free to go up! I hope for no double bottom this time

I guess we are in the bold part now. I really don't know why practically every big recovery which I've witnessed so far follows that patter. I guess the answer is the infinite pain of the trend followers losing their last satoshis. RIP morons. Strong hands as always - rejoice, the path to 100K and beyond is wide open! 

This is Bitcoin!
When you think it can't go deeper any more, it suddenly goes up again.

[BitcoinGirl.Club]

[OutOfMemory]

Gonna rock the drumset for half an hour and go to #hodlsleep.
See you guys

[jojo69]

[luckygenough56]

holdsleep be like :

[Gatorelf]

you could say the crackdown on Chinese mining is good for BTC as this will reduce the carbon footprint. They use mostly coal fired power plants.  Now the rest of the world pics up China's slack with more energy efficient grids.  Next there will newly designed miners ( probably in the works now) that will dramatically reduce power usage while increasing computation abilities. 

[El duderino_]

holdsleep be like :

I promise you..... it looks a whole way different brother....

HODLsleep = shut down and eyes only opens in the morning, phone not in the bed until then...

[El duderino_]

^you might be the guy on the pic.... a person who chose to HODLsleep when it’s HODLsleep time, doesn’t look om the guy on the pic...