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

[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.

[Paashaas]

[somac.]

Seems to be the going feeling of many right now.

[modrobert]

[bkbirge]

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.

Probably some traders that just bought the dip this last few days. Doubtful anyone that leverage bought in the 50's wasn't margin called.

[shahzadafzal]

$65, $32k, $42k, $32k, $65k, $100K, $200k, $500k....

https://i.imgur.com/aV8mfTH.mp4

[ChartBuddy]

Explanation

[shahzadafzal]

[luckygenough56]

i swear that kind of slow bleeding is the worst, it's like someone plunging a knife in your flesh inch per inch

[somac.]

i swear that kind of slow bleeding is the worst, it's like someone plunging a knife in your flesh inch per inch

Yeah, well a quick drop like we saw last week is like taking a bullet in the back. Take your pick on which is worse.

[goldkingcoiner]

Do you guys remember when we were the newbies, panicking and falling apart everytime there was a huge dip and now its funny to watch the others while hodling calmly?

[luckygenough56]

well i'm not panicking i'm just bored because it doesn't even bounce anymore and i can't make a quick buck  

time to retire (for the day)

seems like accumulating to me, maybe rocket tomorrow

[somac.]

Do you guys remember when we were the newbies, panicking and falling apart everytime there was a huge dip and now its funny to watch the others while hodling calmly?

I'm not panicking, but pretty depressed by all of it. It just seems like it shouldn't be happening at this point in the cycle, but hey, maybe the cycle is not over yet.

[AlcoHoDL]

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.

+3 WOsMerits. Well said.

Ain't selling a single sat. My new-coiner cousin bought his first 0.1 BTC @ $58k a couple of weeks ago, and now, instead of worrying, he just wired another $6,000 to buy the dip. Some of us ought to learn from him.

I have some fiat ready to BTFD too, but just REALLY busy with work...

+1 WOsMerit. Too funny!


HoDL strong, brothers 'n' sisters of WO!

[somac.]

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.

+3 WOsMerits. Well said.

Ain't selling a single sat. My new-coiner cousin bought his first 0.1 BTC @ $58k a couple of weeks ago, and now, instead of worrying, he just wired another $6,000 to buy the dip. Some of us ought to learn from him.

I have some fiat ready to BTFD too, but just REALLY busy with work...

I get paid again this week. Will buy a little more then, same as always.

[luckygenough56]

word on the streets says RAJA bought back at 32k