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

[Hueristic]

The History of Lab Leaks Has Lots of Entries

Smallpox, anthrax and influenzas have escaped facilities — sometimes with deadly consequences.

https://www.bloomberg.com/opinion/articles/2021-05-27/covid-19-and-lab-leak-history-smallpox-h1n1-sars

[ChartBuddy]

Explanation

[greenslope]

28882 pages of crap? At least, less than the always bailed...

[ChartBuddy]

Explanation

[nanobtc]

28882 pages of crap? At least, less than the always bailed...

You must be new, here. Welcome {TO THE MACHINE]

[AlcoHoDL]

...and down she goes (again)...

Another BTFD opportunity.

My cousin's $6k is split into two orders: $3k @ $34,100 and another $3k @ $30,500, waiting to be filled.

I was a bit reluctant about these orders, I suggested for him to buy at market price and be done with it, but it looks like he may get lucky.

Or not.

We'll know soon enough.

[ChartBuddy]

Explanation

[shahzadafzal]

Welcome to 2013... eyes on $200k

[Gyrsur]

...and down she goes (again)...

Another BTFD opportunity.

My cousin's $6k is split into two orders: $3k @ $34,100 and another $3k @ $30,500, waiting to be filled.

I was a bit reluctant about these orders, I suggested for him to buy at market price and be done with it, but it looks like he may get lucky.

Or not.

We'll know soon enough.

the common weekend dip or it has something to do with the expiring of the May Future contracts on CME (BTCK21) as d_eddie mentioned. but he did not explain the mechanism behind which is sad.

https://www.cmegroup.com/trading/equity-index/us-index/bitcoin_product_calendar_futures.html

Friendly reminder: do NOT poke her just before futures expiry.

if you have useful hints please explain it also a bit to the others if you have time for it. this is our weapon against the big smart money which want to hide the knowledge from the Plebs (us) to get their money.

EDIT: on Monday it is Memorial Day in the U.S.. no trading at all in the "old" Wall Street world (NYC, Chicago).

EDIT2: I'm not sure if the effect on weekends is a dip or a pump. the cause is that the traditional banking world does not process FIAT money inflow and outflow to the crypto exchanges and therefore the cycle is broken on weekends. but it should be more a dip because no fresh FIAT money is available to buy bitcoins.

[somac.]

...and down she goes (again)...

Another BTFD opportunity.

My cousin's $6k is split into two orders: $3k @ $34,100 and another $3k @ $30,500, waiting to be filled.

I was a bit reluctant about these orders, I suggested for him to buy at market price and be done with it, but it looks like he may get lucky.

Or not.

We'll know soon enough.

I would rather him to be unlucky myself, but if it bouces back strongly to 60k afterwards I guess that will do too.

[somac.]

EDIT2: I'm not sure if the effect on weekends is a dip or a pump. the cause is that the traditional banking world does not process FIAT money inflow and outflow to the crypto exchanges and therefore the circuit is broken on weekends.

Definitely a dip. Probably for the reason you mention. Since the peak in price I think every weekend has been a dip, though it does usually bounce back towards the end of the Sunday.

My theory is that during a bull market weekends pump, while during a bear market they dump. I have no data or bothered even checking to see if that is true so take it with a grain of salt.

[Gyrsur]

EDIT2: I'm not sure if the effect on weekends is a dip or a pump. the cause is that the traditional banking world does not process FIAT money inflow and outflow to the crypto exchanges and therefore the circuit is broken on weekends.

Definitely a dip. Probably for the reason you mention. Since the peak in price I think every weekend has been a dip, though it does usually bounce back towards the end of the Sunday.

My theory is that during a bull market weekends pump, while during a bear market they dump. I have no data or bothered even checking to see if that is true so take it with a grain of salt.

thanks somac. and this weekend we have a long weekend in the U.S. (Sa, So, Mo). maybe some more dipping?  

EDIT: very interesting that you differentiate between bull and bear market on this effect. I should think about it.

[ChartBuddy]

Explanation

[somac.]

EDIT2: I'm not sure if the effect on weekends is a dip or a pump. the cause is that the traditional banking world does not process FIAT money inflow and outflow to the crypto exchanges and therefore the circuit is broken on weekends.

Definitely a dip. Probably for the reason you mention. Since the peak in price I think every weekend has been a dip, though it does usually bounce back towards the end of the Sunday.

My theory is that during a bull market weekends pump, while during a bear market they dump. I have no data or bothered even checking to see if that is true so take it with a grain of salt.

thanks somac. and this weekend we have a long weekend in the U.S. (Sa, So, Mo). maybe some more dipping? 

Good chance I think, of course this pattern will change eventually, hopefully this weekend.

I am also seeing a lot of this type of chart around lately

https://twitter.com/WClementeIII/status/1397571523561598980

Apparently this Wyckoff distribution or whatever it is matched the peak. If it matches the the bottom too I expect we'll be back down to 30k at the least, though this chart says 26k, not impossible I guess.

[AlcoHoDL]

EDIT2: I'm not sure if the effect on weekends is a dip or a pump. the cause is that the traditional banking world does not process FIAT money inflow and outflow to the crypto exchanges and therefore the circuit is broken on weekends.

Definitely a dip. Probably for the reason you mention. Since the peak in price I think every weekend has been a dip, though it does usually bounce back towards the end of the Sunday.

My theory is that during a bull market weekends pump, while during a bear market they dump. I have no data or bothered even checking to see if that is true so take it with a grain of salt.

Yes, I've seen weekend pumps and weekend dumps. Never thought about it this way, it could be what you're saying. It's definitely not constant, but varies from pump to sideways to dump.

Lucky or not, my cousin is in for a pleasant surprise when price reaches and exceeds $100k, which could happen sooner that we think. Any time is a good time to buy corn, that's Bitcoin 101. We'll wait until sometime next week and if his orders are not filled, I'll log-in to his Kraken account and buy everything at market price (I have his log-in details, he trusts me).

[Gyrsur]

EDIT2: I'm not sure if the effect on weekends is a dip or a pump. the cause is that the traditional banking world does not process FIAT money inflow and outflow to the crypto exchanges and therefore the circuit is broken on weekends.

Definitely a dip. Probably for the reason you mention. Since the peak in price I think every weekend has been a dip, though it does usually bounce back towards the end of the Sunday.

My theory is that during a bull market weekends pump, while during a bear market they dump. I have no data or bothered even checking to see if that is true so take it with a grain of salt.

thanks somac. and this weekend we have a long weekend in the U.S. (Sa, So, Mo). maybe some more dipping?  

Good chance I think, of course this pattern will change eventually, hopefully this weekend.

I am also seeing a lot of this type of chart around lately

https://twitter.com/WClementeIII/status/1397571523561598980

Apparently this Wyckoff distribution or whatever it is matched the peak. If it matches the the bottom too I expect we'll be back down to 30k at the least, though this chart says 26k, not impossible I guess.

good hint. I saw this Wyckoff thing on FB too. if you dive deeper into it we should be in Phase B now?

and that is also what I mean with the mini-bubbles in a bull phase (weekly or monthly view).

I guess the confusion comes from the different time frames we are looking at. I do watch more the weekly or above view. and you guys seems more looking at shorter time frames for day trading. so to speak I'm more the Investor and you are more the Traders. am I right?

I'm very convinced we are still in a bull run on larger time frames. but you will have several mini-bubbles in this long bull run until the next ATH. and this mini-bubbles will burst too but it is not the end of the larger bull run. the burst of the last mini-bubble happened some days ago. do you guys get now my theorie with the mini-bubbles?

EDIT: this Wyckoff Method is really helpful. you should read through it. maybe in the future I should speak more in a language in which a standard is already established like the Wyckoff Method.

https://school.stockcharts.com/doku.php?id=market_analysis:the_wyckoff_method

EDIT2: FB group for the Wyckoff Method.

https://www.facebook.com/groups/wyckoff.method.of.trading

[El duderino_]

[ChartBuddy]

Explanation

[Gyrsur]

nice picture you painted again.  

[El duderino_]

Opposite direction especially for the weekends

Thank you

*prefer no LOW-30’s