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

[jcojci]

$11000 in one hour 

Excuse me for quoting myself but how time flies

$44000 in one hour 

After reaching $44,000, the price back to $43,5xx so it could be at that price for a while

But that is good because bitcoin still tempting investors to invest more.

[dragonvslinux]

Nonetheless, a break below $42,500 tomorrow would likely result in a retest of $40K. On the 4hr chart, the bulls need a close above local resistance to confirm new local lows.

Price broke through $42.5K in the early morning, thus resulting in a re-test of $40K volume support. As anticipated, the price was bought up from the accumulation zone:



Today's candle is now starting to look like a dragonfly doji (which is bullish given the recent sell off) with price now back above the open of $43K as well as 0.382 retracement level:

A Dragonfly Doji is a type of candlestick pattern that can signal a potential reversal in price to the downside or upside, depending on past price action. It's formed when the asset's high, open, and close prices are the same. The long lower shadow suggests that there was aggressive selling during the period of the candle, but since the price closed near the open it shows that buyers were able to absorb the selling and push the price back up.

Source: https://www.investopedia.com/terms/d/dragonfly-doji.asp

On the 4hr there appears to be more buyers than sellers since making new local lows which is a positive sign, with only a few hundred dollars of resistance overhead:



Moving back above $44.5K would likely confirm that the low is in, otherwise a re-test of the accumulation zone (particularly $38-40K) wouldn't be out of the question, now that price has already flirted with this support zone. The 50 Week MA continues to rise and is now priced at $38.7K, where in the long-term price would likely bottom if the bears push price down any further.

[Fatman3001]

We knew the world would not be the same. A few people laughed, a few people cried. Most people were silent.

[dragonvslinux]

Pepper Your Angus.

This crash is only just getting started. Sub 30k coming.

HFSP.

Only sub $30k?  What happened to sub $10k and sub $20k?  Those predictions of yours were just a couple of months ago, and they did not work out very well for you Mr. Nocoiner.  right?  Were you able to pick up coins in the sub $20ks or sub $10ks for that matter?

Billy was probably waiting for sub $20K when price was around $30K. Then at $20K, if price had got there, he'd probably be waiting for $10K, even though $15K would of likely been the low due to the 200 Week MA. Now price has reached $40K, he is patiently waiting for $30K again. Probably at $50K he was waiting for $40K, but since chickened out of buying the dip after convincing himself $40K would break.

Sounds like a case of waiting for prices to drop $10K further during a correction, but then continuing to want to buy $10K lower.

At $10K Billy would probably be waiting for $0K. This is why this strategy doesn't work.

My guess is Billy will end up fomoing in at $65K, after selling around ~$40K-50K.

[shahzadafzal]

$11000 in one hour  

Excuse me for quoting myself but how time flies

$44000 in one hour  

I had to do it... adding some math and science with proof (not like proudhon just bluffing).... pure facts and figures.

Facts:
Sep 2020   $11,000
Sep 2021   $44,000



hence we will be hitting $100k again around May 2023.

again: because first $100k is already scheduled for Dec 2021

[jcojci]

$11000 in one hour  

Excuse me for quoting myself but how time flies

$44000 in one hour  

I had to do it... adding some math and science with proof (not like proudhon just bluffing).... pure facts and figures.

Facts:
Sep 2020   $11,000
Sep 2021   $44,000



hence we will be hitting $100k again around May 2023.

again: because first $100k is already scheduled for Dec 2021

If it's based on your image, bitcoin will never reach $100,000 and not even close to $75,000. Geez, if that so, we really need to have a big patient to wait for the price. That will be a long time to see the bitcoin price reach $100,000 in the middle of 2023.

[fillippone]

where khartoum is crossword
https://twitter.com/nayibbukele/status/1439815012642611203?s=21

I gotta say... I like the balls on this guy.  He actually seems to be a real bitcoinner.

Some back-of-the-envelope computation of mine.
Some more buying expected.


Hopefully no more BTFD, but FOMO Buying!

[ChartBuddy]

Explanation

[hisslyness]

$11000 in one hour  

Excuse me for quoting myself but how time flies

$44000 in one hour  

I had to do it... adding some math and science with proof (not like proudhon just bluffing).... pure facts and figures.

Facts:
Sep 2020   $11,000
Sep 2021   $44,000



hence we will be hitting $100k again around May 2023.

again: because first $100k is already scheduled for Dec 2021

If it's based on your image, bitcoin will never reach $100,000 and not even close to $75,000. Geez, if that so, we really need to have a big patient to wait for the price. That will be a long time to see the bitcoin price reach $100,000 in the middle of 2023.

that is a trend line... not actual price, it could race up to 200K tomorrow and fall back down to 20K, that chart is just showing the price is trending up.... following the path that fits the price of $11k and $44K

[xhomerx10]

Congratulations Canada. Top job.

 Sadly we're still left with a buffoon for a Prime Minister; at least he didn't get the majority he wanted.  

[HI-TEC99]

The next full moon will occur on Monday, Sept. 20 at 7:55 p.m. EDT (23:55 UTC), but the moon will appear full the night before and after its peak to the casual stargazer. September's full moon will be the Harvest Moon of 2021, though it is sometimes known as the Corn Moon and has many other nicknames by different cultures.

Is full moon the reason we got a dip? Do we get a pump at the next full moon?

[jcojci]

where khartoum is crossword
https://twitter.com/nayibbukele/status/1439815012642611203?s=21

I gotta say... I like the balls on this guy.  He actually seems to be a real bitcoinner.

Some back-of-the-envelope computation of mine.
Some more buying expected.


Hopefully no more BTFD, but FOMO Buying!

Long Live El Salvador

that is a trend line... not actual price, it could race up to 200K tomorrow and fall back down to 20K, that chart is just showing the price is trending up.... following the path that fits the price of $11k and $44K

Hopefully, in the rest of this year, the price will get more enthusiasm from big companies or people to invest in bitcoin, and the rally will come again.

[ChartBuddy]

Explanation

[Dabs]

There are also powerful arguments for an obfuscated blockchain to emerge.  And though much less clearly, Monero is the winner there. (I saw less clearly because NOTHING is established like Bitcoin is, and something *could* conceivably knock Monero off it's seat as the privacy king, though I think it's unlikely for a set of reason that has a LOT overlap with Bitcoin).  This has great implications and costs and you do not get the same level of security as you do with king daddy.

Anyway, interesting poll.  And I for one, look forward to the privacy improvements coming to Bitcoin.

Monero is the biggest, agreed, but watch out for a couple others in the privacy space. Maybe not Grin, I don't see it now. But a few others are playing catch up. Sorry for the OT.

[somac.]

Stock market taking us down again. So stupid.

[d_eddie]

We knew the world would not be the same. A few people laughed, a few people cried. Most people were silent.

How can I save my little boy
From Oppenheimer's deadly toy?

[JimboToronto]

Congratulations Canada. Top job.

I'm quite pleased with the result.

First of all it's a minority government. This means that any new legislation must gain support from other parties. No heavy-handed partisan crap.

Also I'm glad it was the most centrist party that will form the government and not the ultra-right-wing Western Redneck Hillbilly Party nor the left-wing Non Democratic Party. We don't need their crap.

It's interesting to note that in a manner eerily similar to the red/blue results in the last several USA elections, the big cities voted one way and the rural yokels the other way.

Hopefully this will last for a full 5 years.

[WastedLTC]

Seen this circulating and while I don't think it will pass;  just sharing.   It is a sweeping set of rules that would be a temporary blow to the market before being deemed worthless legislation.

https://old.reddit.com/r/Bitcoin/comments/pr7fow/new_shocking_us_crypto_regulation_far_more/

--snip

US Congress intends to regulate crypto on a level far deeper than currently understood―They will:

• Designate Bitcoin, Ether, and their hard-forks as commodities and regulate their transactions accordingly
• Create legal uncertainty for all other crypto projects and ICOs by allowing them to be labeled as securities
• Create legal uncertainty for all other crypto projects and ICOs by allowing them to be labeled as securities
• Ban the use of (unauthorized) stablecoins
• Introduce penalties for the use of mixers and privacy coins
• Rebrand smart-contracts that take longer than 24 hours to deliver as futures contracts and regulate them accordingly
• Re-define legal tender and change the way money is created by the Federal Reserve; and authorize the issuing of a digital USD of which all transactions are recorded
• Introduce foreign regulations into US law for all virtual asset service providers in the US (and with US clients). This would not be done to then never use it.

Infrastructure Bill, https://www.congress.gov/bill/117th-congress/house-bill/3684/
Digital Asset Bill, https://www.congress.gov/bill/117th-congress/house-bill/4741/

[ChartBuddy]

Explanation

[Lucius]

Just HOLD&Buy Dip