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

[somac.]

The weekend dump, like clock work.

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[strawbs]

At the risk of being on topic   some wall observing shows just how few coins are available on the exchanges. A few big buys (or even a lot of smaller buys) and we'll be back over $50k. It wouldn't be surprising to see a rapid rise at any point in the near future. Anyone shorting this or selling coins now is at a real risk of getting rekt or mindrusted.

From Stamp - only 500 coins available under $50k

[ivomm]

Well, the trend followers achieved another 10% loss, but apart from them nobody is selling. They don't even look at the depth charts, I even doubt that they know what a depth chart is  This dump is doomed to fail and we will be back above 50K in no time.

[LFC_Bitcoin]

Price sucks but some humour to lighten the mood.

Stay strong guys, I’m feeling worried myself but we must HODL on.

[somac.]

Well, the trend followers achieved another 10% loss, but apart from them nobody is selling. They don't even look at the depth charts, I even doubt that they know what a depth chart is  This dump is doomed to fail and we will be back above 50K in no time.

I hope so and I think you are right. People are expecting a repeat of 2018, problem is the bull run never went parabolic or too crazy, therefore there is not enough stupid money involved that still hold coins. Pulling this completely out of my arse, but I'd say 80% of the sellers have already sold, sure the buyers are not as many now, but that's a good thing, means what stupid was there is no longer there.

It might be a hard slog for 6 months, but I think we will get there again. At which point the stupid will come in again to let the piece of shit elites extract all the wealth from them once again.

[El duderino_]

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[JohnBitCo]

Common bulls, we need this pump right now else we are in bear market 
Can we have a weekend pump  ?

[Kylapoiss]

Price sucks but some humour to lighten the mood.

Stay strong guys, I’m feeling worried myself but we must HODL on.

Don't worry mate, the price is still good, isn't it?

And we all know that it will shoot to the sky again soon enough.

HODLing strong.

[machasm]

Don't know about you guys but I am still HODLING.
Haven't sold a Sat.
Hang in there LFC. I know you have a pretty large bag but you will be rewarded.

[somac.]

Price sucks but some humour to lighten the mood.

Stay strong guys, I’m feeling worried myself but we must HODL on.

Don't worry mate, the price is still good, isn't it?

And we all know that it will shoot to the sky again soon enough.

HODLing strong.

Price is still good, but the real worry is not the current price. It is that we are in another multi-year bear market, and one that according to previous history shouldn't be happening at this point in the cycle.

Always HODLing, even if depressing.

[ChartBuddy]

Explanation

[Kylapoiss]

Price sucks but some humour to lighten the mood.

Stay strong guys, I’m feeling worried myself but we must HODL on.

Don't worry mate, the price is still good, isn't it?

And we all know that it will shoot to the sky again soon enough.

HODLing strong.

Price is still good, but the real worry is not the current price. It is that we are in another multi-year bear market, and one that according to previous history shouldn't be happening at this point in the cycle.

Always HODLing, even if depressing.

Times change, cycles change? Everything changes.

I don't worry a bit, I won't cash out anything before 2030 anyway (ok if it hits 500k it might be tempting to get something just for kicks (and lambo)).

These corrections and crashes are making me pretty numb, recent flashcrash didn't raise the heartrate one bit.

[Wekkel]

These corrections and crashes are making me pretty numb, recent flashcrash didn't raise the heartrate one bit.

Yup. Just another moment of: ‘what have the kids been doing this time’  

[somac.]

Here we go again.

Better be some buying coming this week, otherwise new lows. We're going to have to get at least a couple weekly relief rally soon though.

BTC dominance up to 47% at least.

[ChartBuddy]

Explanation

[Torque]

Some unsolicited sage observations and advice from someone who has been through these BTC ups and downs many times:

1) China is the culprit that allows the whales with massive over-leverage to run during the bull stage. They don't say shit when the price is going up (of course not), but pull the rug with FUD when they are ready to short. It's all part of their game. They have done it before during prior bull runs, and they will most certainly do it again in the future. Controlling the majority of mining is also part of their game, so they are not going to "crackdown" on mining. That's completely BS.

2) If Bitcoin cannot hold a certain price for very long, then it was massively over-leveraged by whales and was not meant to be. Pay attention not to where it flies high, but where it lands and where it scrapes the bottom. It's current true SOV price is somewhere along that line.

3) Bitcoin's fundamentals and purpose never change from what they are, no matter the price.

4) Take comfort in knowing that new ATHs tell you where the price is going and will "be" someday, not where it will be now. Notice how old ATHs are eventually left completely in the dust. This new one will be no different than the others. Have extreme patience.

5) Your btc accumulation/holding strategy should be just like the goldbugs. If you are not DCA'ing in and holding through at least 2-3 halving cycles (if not forever), then you are doing it wrong. Short term thinking is mental weakness. If you can't handle it long term, get out now before anxiety overtakes you and you pull a MR.

[vapourminer]

should i buy more, what do you guys  think ?

Just stay in cash.  You'll be fine.

proudhon you forgot to switch accounts for this post

[somac.]

I wonder if anyone is still leveraged long at the moment? Getting back to the lows might trigger some more margin calls.

Order book is very lopsided again but that probably doesn't mean much.