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

[Sayeds56]

https://www.nbcnews.com/tech/tech-news/china-digital-currency-people-are-starting-use-rcna4435

[1714862425]

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[1714862425]

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[1714862425]

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[1714862425]

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[ChartBuddy]

Explanation

[AlcoHoDL]

I chuckled with that.

I can bet these are Antminers.

[BitcoinBunny]

Does anybody else wonder if Skeletor's reign will actually ever come to a fucking end? 

[ChartBuddy]

Explanation

[JayJuanGee]

Just sold some, so feel free to shoot up now

But what was your purpose of selling BTC?  to buy back lower?  or did you have some kind of consumption/investment need for the money?  or was there some other reason?

Many members here know that I have been systematically selling BTC as the BTC price goes up since $250.. so of course, my whole system does not sell so much BTC as to really undermine my overall BTC holdings, so in that regard, I am not dependent on buying back in the event that the BTC price does not go lower than whatever my various established sell prices had happened to be - on the other hand, if the BTC price goes down after I had made whatever sales (on the way up that I had), I use the sales proceeds money to buy back.. those amounts are pre-established too... .so for example, these days the buy sell orders are about a $6k or 7k spread.. so with the passage of time, the buy back spread has gotten larger and larger, both in terms of substantive value and also in terms of percentage difference too... .

On a related topic, yesterday I discovered that about 6 days earlier (on October 29), I had made a mistake while I had been setting BTC sell orders in $3k to $5k increments between $100k and $150k, and I had accidentally sold some BTC at $62,500-ish that had been meant to be set for selling at $116k-ish.

In essence, I am describing a mistake, so whenever I discover that I made a mistake in setting my orders or maybe accidentally buying or selling (as happened in this situation), I will thereafter attempt to recover from such mistake (and even attempt to profit on it - even just in a small way if possible or if the BTC up and down gods are in my favor), so of course in this kind  of a situation, I have to either attempt to buy back the portion of BTC that I had accidentally sold at a sufficiently lower cost in order to cover the back and forth fees and/or to supplement my buy back orders in such a way that might be less preferable but ends up being a kind of mitigation of damages by  cancelling (or reducing) some of my BTC sell orders that had been previously set at various price locations higher up the ladder of BTC sell orders.

I guess what I am also saying is that based on such mistake, I have made an effort to rebalance my BTC buy/sell orders in such a way that I remain as emotionally neutral as I can be in terms of which direction those buy/sell orders fill... and sooner or later they are going to fill because there is almost a zero chance probability that BTC price will stay ranging between my price points forever and ever (even if sometimes two weeks^tm might feel like a long time).

[Sayeds56]

[ChartBuddy]

Explanation

[OutOfMemory]

The red cable is china's, isn't it?

[ChartBuddy]

Explanation

[goldkingcoiner]

The red cable is china's, isn't it?

You mean West Taiwan?

[philipma1957]

I chuckled with that.

I can bet these are Antminers.

You would lose the bet.

https://whatsminer.net/product/m20-instock/

i am thinking they are whatsminers.

[JayJuanGee]

The problem I see in the Craig S. Wright trial: most, if not all of the judges and legal people, generally don't understand (and many don't like) the concept of Bitcoin and its fundamental properties that make it what it is. This lack of knowledge and understanding of Bitcoin by the legal system, combined with some clever tactics of manipulation by the CSW side, can lead to the judge awarding CSW rights on the BTC in the addresses he supposedly owns. This can lead to an avalanche of legal actions and pressure on the Bitcoin Core team to do something that can't even be done. We all saw what happened in the Cøbra case.

CSW is a cancer that is metastasizing to all aspects of Bitcoin's existence and development, with the sole purpose of feeding his ego and satisfying his megalomania. The sooner he disappears from the face of the earth, the better. He has to be hit so hard as to never be able to attack anyone ever again -- just like cancer: cut it out before it spreads.

I am not sure if I get what you are saying, AlcoHoDL.

Isn't CSW merely fitting in a niche that happens to exist.. so even if he disappears from the trying to fuck over bitcoin scene, won't there by some other attack-vector dweeb to take his place as a newly anointed king of dweebs?

https://twitter.com/100trillionusd/status/1456581634497581059?s=21

Hell, at this rate I'd be happy for a 2k green candle

Patience young padawan.

 

The bottoms of that last chart come off as somewhat conservative, but I suppose that bottoms do tend to be conservative anyhow... but seeing so much sub $100k bottom projection in 2022 and into 2023 causes me less enthusiasm than seeing tops (even though I have been growing more and more fond of bottom analysis in recent years).

I will note that I can still appreciate the overall chart as still being quite bullish if we would thereafter consider that the projection of the yellow line would likely have some flat in 2023 and then perhaps start to slope UPpity in later 2023..and so at some point our bottom projection would thereafter get permanently above $100k... maybe around late 2024? - early 2025-ish?

Pushing time series extrapolations out that far is pretty speculative.  
This stuff is a moving target.  Like the way I kind of smushed the lumps under the previous cycles so that the last lump would fit.
This is the transform I used for the cyclical superposition.  Fitting all the bumps under bitcoin's price means they all can't be perfect.

I am already personally of the view that once we get into the future, we are merely in the realm of in-perfection anyhow.

Sure, if the data (events) have already happened, then there is a role for some level of perfection striving, but if we are talking about the future, the best would be a range of expectations in which the boundaries of the range would be merely approximations and probabilities because they had not happened yet.. and yeah there would be some kinds of events and data that could be projected in the future in a very certain kind of way, but once involving human behavior, there includes a pretty decently-sized uncertainty element right there.

In other words, sometimes even having lines that project into the future, we seem to frequently find that people will tend to assign them higher value than they deserve merely because they have been drawn out.., even if the drawer of the lines had not intended for those future line locations to have that level of implied concreteness (certainty).

[AlcoHoDL]

I chuckled with that.

I can bet these are Antminers.

You would lose the bet.

https://whatsminer.net/product/m20-instock/

i am thinking they are whatsminers.

You're probably right about them not being Antminers...but you didn't get the meaning of my post/joke:

Antminers = ants + miners = teeny weeny little miners, able to fit in a jewelry box to present to your GF.     

[JayJuanGee]

Yawn

Must be ups coming soon

Take a quadratic regression of time as a function of bitcoin’s daily closing price since July 7, 2010 (Mt Gox and Bitstamp concatenated):

Yawn

Must be ups coming soon

Surely we’ve tested support at these levels enough now?

I’m ready for euphoria now, come on FFS.

Just picking a few nits, just making sure you know you're replying to different eddies here.

Don't all eddies think alike?  #nohomo




Asking for a friend....





 

You're probably right about them not being Antminers...but you didn't get the meaning of my post/joke:

Antminers = ants + miners = teeny weeny little miners, able to fit in a jewelry box to present to your GF.      

Sinking pretty low when having to 'splain bad jokes...

We could just suggest that the GF is ant-oriented.. so might not take much to satisfy her.  

In other words, she seems to be easily impressed...


A good thing?


Perhaps?



Perhaps?




Who needs or wants "high maintenance?"

Asking for a different friend.

[ChartBuddy]

Explanation

[AlcoHoDL]

The problem I see in the Craig S. Wright trial: most, if not all of the judges and legal people, generally don't understand (and many don't like) the concept of Bitcoin and its fundamental properties that make it what it is. This lack of knowledge and understanding of Bitcoin by the legal system, combined with some clever tactics of manipulation by the CSW side, can lead to the judge awarding CSW rights on the BTC in the addresses he supposedly owns. This can lead to an avalanche of legal actions and pressure on the Bitcoin Core team to do something that can't even be done. We all saw what happened in the Cøbra case.

CSW is a cancer that is metastasizing to all aspects of Bitcoin's existence and development, with the sole purpose of feeding his ego and satisfying his megalomania. The sooner he disappears from the face of the earth, the better. He has to be hit so hard as to never be able to attack anyone ever again -- just like cancer: cut it out before it spreads.

I am not sure if I get what you are saying, AlcoHoDL.

Isn't CSW merely fitting in a niche that happens to exist.. so even if he disappears from the trying to fuck over bitcoin scene, won't there by some other attack-vector dweeb to take his place as a newly anointed king of dweebs?

I see your point -- Bitcoin has demonstrated time and time again that it is robust enough to not be affected by various attack vectors in its history, and the attack vectors will surely never cease to exist -- if anything they are likely to intensify. It's just that Craig Wright is a special kind of beast, one that won't give up so easily, and will keep on fighting to destroy Bitcoin as long as he can do it. I wouldn't be writing this if the Cøbra case had a different outcome. Forcing (and succeeding in) the removal of the Bitcoin White Paper from the UK version of bitcoin.org because of CSW's claim he's Satoshi has left a sour taste in my mouth... I just hate everything about this person, and really hate to see him winning cases due to the ignorance and technical incompetence of some judges. CSW is one sick megalomaniac the world would be better off without.

[ChartBuddy]

Explanation

[STT]

You can make a mistake and still correct to an overall gain.  The price in long term I think will rise but it would be characteristic to rise only greatly after testing support further down.   Support typically will be checked as a foothold during a move upwards, often on news we can see the price spike both up and down.   It still seems possible there is an opportunity to buy lower even if we resolve upwards.

  95.95 on Dollar index 1st March 2020 and also relevant later that year.   Unless dollar does recover and trade above that point I'm not especially bearish, they continue to dilute dollar value consistently while making noises as if being careful in a policy to reduce inflation.

https://www.marketwatch.com/articles/shibu-inu-coin-price-bitcoin-ethereum-51636138941?mod=mw_latestnews

[El duderino_]

Some people think Nov close $98K is too big a jump. It is +60% from current level. Yes that is a big jump. But #bitcoin  did this many times before:
May 2019 +62%
Aug 2017 +66%
May 2017 +66%
Nov 2013 +451%
Oct 2013 +61%
Mar 2013 +181%
Feb 2013 +63% etc



https://twitter.com/100trillionusd/status/1456741682272260098?s=21

I’m ready p