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

[BitcoinBunny]

He Posted this chart around 2 weeks ago and compared it to 2nd leg of 2013 run. I asked him why the first dot of this 2nd leg 2021 is red already while in 2013 it started yellowish orange. He blocked me wtf lol. I did not meant to be mean. Was a serious question since I am no charts and data guy.

He's an interesting guy to listen to but I am still not convinced BTC follows a certain price model.

What does bitcoin do then, Bbunny?

Would you prefer to just say that there is no pattern?

Sure we may well get deviation from whatever past pattern has been assessed or even a breakage of the pattern or a breakage of the model that might cause a need for another model, but are we going to fly blindly and say that none of the previous pattern matters in terms of attempting to assess where we were, where we are at and where we might be going - even if we end up being wrong about it - once the future becomes history?

Personally I think this rainbow chart is pretty decent. There is a big chunk of margin of error in that chart that only gets bigger the higher up we go which seems realistic but it possibly helps indicate at which price BTC is a good investment.
https://www.blockchaincenter.net/bitcoin-rainbow-chart/

It would be great if Plan B is right. But I just wonder how much the money printing & pandemic helped him to be right for the last 18 months which he may not have been otherwise.

I have frequently asserted that PlanB is NOT saying much of anything new beyond previous BTC price prediction models that had existed prior to his making his plottenings, so sure, in that regard, PlanB is not saying anything much different than the rainbow chart, except for the fact that there are attempts to be more granular in regards to the historical 4-year waves that surely connect with bitcoin's halvenings.

Personally, I don't give too many shits about any specific model either, but I have been asserting that a combination of models do help us to attempt to understand where we are at and where we might be going and surely the rainbow model might be as specific as some peeps (including uie-pooie) would like to get - because yeah it does show us where we have been that gives us a better idea of where we are at and where we might be going, so whether you are better off attempting to incorporate S2F ideas, the 4-year fractal and/or considerations of exponential s-curve adoption based on networking effects and metcalfe principles remains your choice which ones you would like to consider (if any) or just to roll your own price prediction model - which frequently puts those kinds of roll your own model proponents in a seemingly lala-landia of seemingly wannabe self-aggrandizement.

By the way Bbunny, your last paragraph in the above-cited response seems to put out a certain level of bitterness regarding the so-far correctness of the PlanB model to suggest that world events caused PlanB's model to be more correct than what it would have been or should have been to date and jeez.. who fucking cares?  .. surely, I get a bit irritated by PlanB sometimes in terms of some of his tweets that seem to assign way too much specificness to the price predictiveness of his model than the model seems to merit and also I become a bit frustrated because I do not really understand the parameters of some of his more recent calls about "worse-case scenario" extreme lows between August and the end of 2021.. that largely have ended up being correct so far... but still.. who cares and why so seemingly bitter? #nohomo








 

I think the chance is likely we see it fail late in this "cycle", which is really fairly soon...

Salty cow.









Salty cows everywhere.




 

Trust me JJG, I'm not salty about Plan B at all. Having lived in The Netherlands, I like listening to him and his opinions. If there is an interview with him, he is one of the few I can stomach listening to for an hour or so, even if he basically says the same thing as last time.
Even Michael Saylor becomes a bit too much sometimes.
One question can set Saylor off on a 20 minute monologue over stuff that was totally not asked.

Like I said, I hope Plan B's predictions are right but I'm not so sure as we continue to rise the cycles will be as clear to differentiate.
We will see.
Do you think we will see a 200K BTC within the next 4-5 months? I'm not so sure.
It seems Plan B has lowered his end of year expectations a bit as the year has progressed. Maybe 90K - 100K is still on the cards in the next 2 months though.

[Biodom]

...That's what i am talking about...boys and girls.
Where is that funny ball shooting his way?

[ChartBuddy]

Explanation

[philipma1957]

 Do we get over 66? in one hour and 1 minute

[d_eddie]

I think the chance is likely we see it fail late in this "cycle", which is really fairly soon...

Salty cow.





Salty cows everywhere.

 

@JJG - Note that @cAPSLOCK talks about S2F likely failing late in this cycle, but he doesn't specify if it will fail on the downity or the uppity.

Some peep was not pee-pared to this plot twist? Perhaps? Perhaps?  

[PoolMinor]

This is......We are....


Just begun.






Again.

[Biodom]

$63k in one two hours

Hope chart buddy accepts your proposal but here we are seeing pump for ants  

Yes the volume is virtually non existent

One of the most interesting parts of this "cycle" in my opinion.  It is not retail.  The retail markets are nothing more than an unreliable oracle so far.  And the majority of acquisition is happening in dark pools.

If retail DOES start to buy this cycle they are going to soak up the available float so fast it will make peoples eyeballs pop out.

Watch.

(If it does not happen this time, which is hard to even accept as possible without some giant global macro black swan... it WILL happen in the next cycle.)

Nice...just one note...retail is NEVER going to buy a 65.5 64K asset. Not in the cards.
They will buy ETF at a fraction of the price, though, or things like GBTC at 50 or even 150 when it gets there.

[dragonvslinux]

$61K held as support, $64K was broken, therefore $65K now being re-tested. Price closed at the highest ever Weekly close of $63.3K while as of today is on the second ever highest Daily close.
Looks like this week is set for a new ATH if the day ends as well as it started. Within an hour of the Weekly ATH close, price has increased by 3+% / $2K, this says a lot about the bullish momentum.

Price remains bullish while holding the $61K local volume point of control. Bouncing off this support will likely bring about a re-test of $65,000 and a clear path towards higher highs.

[BobLawblaw]

Wat is happening?! WOW!

EDIT: Goddamnit. My channel with LOOP got closed after fucking around with fees, getting distracted, then coming back to find shit drained. Fuck. I really hate this game. It's worse than babysitting a child. I'm far too busy in meatspace to properly manage a fucking lightning node, never mind something as prestigious as a LOOP channel. Really REALLY fucking upset. NGL.

[AlcoHoDL]

Less than $2k left for ATH... $2k? What is this, a jump for ants?

Looking fwd to waking up to it. Or...dare I say $70k? I'm going to dream about it for sure.

HoDLsleepppzzzzzzzzzz z z z z z   z   z   z   z   z   .   .    .     .      .       .

[Mr.D4rio]

Gonna enjoy a good #hodlsleep , upcoming week seems to be starting in an interesting way... 

[El duderino_]

Cannot close the eyes,
Bitcoin exploding right now.
Reaper mode is on.

[TheJuice]

Wat is happening?! WOW!

EDIT: Goddamnit. My channel with LOOP got closed after fucking around with fees, getting distracted, then coming back to find shit drained. Fuck. I really hate this game. It's worse than babysitting a child. I'm far too busy in meatspace to properly manage a fucking lightning node, never mind something as prestigious as a LOOP channel. Really REALLY fucking upset. NGL.

At least it was only 0.16777215 BTC. Enable that WUMBO and YOLO!

I've got a juicy .5 btc channel to loop -- you should automate the fee structure.

[ChartBuddy]

Explanation

[TheJuice]

I'm ready for 69k, anyone else?

[vapourminer]

I'm ready for 69k, anyone else?

not really looking for any particular number. im just expecting to be impressed tomorrow when i wake up.

[philipma1957]

I'm ready for 69k, anyone else?

I would like to see 70k

[Copetech]

Wat is happening?! WOW!

EDIT: Goddamnit. My channel with LOOP got closed after fucking around with fees, getting distracted, then coming back to find shit drained. Fuck. I really hate this game. It's worse than babysitting a child. I'm far too busy in meatspace to properly manage a fucking lightning node, never mind something as prestigious as a LOOP channel. Really REALLY fucking upset. NGL.

At least it was only 0.16777215 BTC. Enable that WUMBO and YOLO!

I've got a juicy .5 btc channel to loop -- you should automate the fee structure.

You do realize, you just said "At least it was only $10,950.00" Right?... ... ... Right!?!

[xhomerx10]

[ChartBuddy]

Explanation