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

[cAPSLOCK]

https://twitter.com/JasonPLowery/status/1457732352914989063?s=20

This is a good one.  At the very first I thought this could be Musk's motivation for talking about Doge and Cumrocket etc.  But he kept talking.

That said, his ACTIONS tell a different story... hard to say...

[Biodom]

....  I think there is a strong possibility this is the phase the market is in right now, we've seen it before in previous bull runs right before some epic rises on thin volume

... I tend to think of it as the calm before the storm of the manic mark-up phase, you see it in other commodity markets also, grains, softs especially and local weekly cattle auction rings all share the same characteristics, also great studies in human psychology of markets

... basically the market is running out of sellers at these prices as the sellers now are expecting/demanding higher prices for their goods .... the buyers are there at the ring with cash in their pockets waiting for cheapest prices but they can see pretty much how many cows are left in the pens, the grass is going crazy in the paddocks back home but the sellers are in solidarity sitting on their hands saying NUP .... there's a quiet, tension in the atmospehere as the Mexican standoff goes through it's dance

... then the first buyer loses his nerve and puts in a big bid well above market, bang, that is the starting gun for the mark-up phase

... all the bids start coming in higher and higher but only a few get filled, fomo kicks, still no volume, the sellers are going to wait for the new price level to establish when it's in new territory

The 64k question (lol look what I did there?) is how far will the fomo send it?  There are two things that are "different this time".

1. I think there will be more fomo than we have ever seen by a LOT.  
2. The distance between 65 and 650 is quite different, and yet exactly the same as between 65,000 and 650,000.  That's where the really chewy part comes in I think...
I have no idea.

I know what you mean....but the DISTANCE is typically not being measured in % (as your example illustrates).
The numerical distance between 650000 and 65000 (be it miles or mm) is 585000 "units", while the distance between 650 and 65 is 585 units.
Naturally, 585000 is exactly 100 times bigger "distance". With 585 miles driven you won't even cross the TX border going north from here, but with "driving" 585000 miles you would circumnavigate the globe more than twenty times.

I know that i sound boring and I get the gist of your idea, but i just can't agree that these two series of numbers are even remotely similar, sorry.

[d_eddie]

Looking at the three day chart I am seeing (on ALL exchanges) a raging bull market with almost no volume at all.

I think this is EXTREMELY significant.  Because it means one of two things (or maybe both):

1.  The markets are being manipulated in concert at multiple exchanges worldwide.
2.  Something is taking the sell walls down at the exchanges but it is not buying at those exchanges.  Then the little bit of buying happening at the exchanges is cruising up to the higher sell walls, which are also likely to be pulled sooner than later.

As much as I have come to believe #1 is an actual possibility (I used to be VERY dubious about various paranoid market manipulation theories) I just do not see it being done this way at this time.

I know I keep saying the same thing over and over about dark pools etc.  But I cannot find any other explanation.

What this is doing, in my opinion is significantly muting the price action that would otherwise be evident along with the volume on the exchanges.

You were kindly asked to stop, but you didn't listen.

At any moment I expect the Mayor to come back in here asking for more of our pants.  (newer WOs won't get that one)

I really hope to hear from the Mayor again.
He won't have my pants this time, though.
Fool me once...

[d_eddie]

The 64k question (lol look what I did there?) is how far will the fomo send it?  There are two things that are "different this time".

1. I think there will be more fomo than we have ever seen by a LOT.  
2. The distance between 65 and 650 is quite different, and yet exactly the same as between 65,000 and 650,000.  That's where the really chewy part comes in I think...
I have no idea.

The difference between 65/650 and 65k/650k is not in the ratio itself.
It is in the ratio between the numbers involved and the total amount of fiat in the world.

Q. Got it, daddy! So, is the whole amount of fiat in the world 1000x as much as it was when the corn was at 65?
A. Not yet, son, but they're working hard at it.

(Fuckin' legend!)

EDIT: I think @Biodom was meaning much the same thing in his latest post.

[ChartBuddy]

Explanation

[eddie13]

This is a long time for BTC to go sideways near its ATH..
When it blast through its going to have momentum..

$70 within an hour of breaking 67 I think..

I loves bitcoin..

[eddie13]

....  I think there is a strong possibility this is the phase the market is in right now, we've seen it before in previous bull runs right before some epic rises on thin volume

... I tend to think of it as the calm before the storm of the manic mark-up phase, you see it in other commodity markets also, grains, softs especially and local weekly cattle auction rings all share the same characteristics, also great studies in human psychology of markets

... basically the market is running out of sellers at these prices as the sellers now are expecting/demanding higher prices for their goods .... the buyers are there at the ring with cash in their pockets waiting for cheapest prices but they can see pretty much how many cows are left in the pens, the grass is going crazy in the paddocks back home but the sellers are in solidarity sitting on their hands saying NUP .... there's a quiet, tension in the atmospehere as the Mexican standoff goes through it's dance

... then the first buyer loses his nerve and puts in a big bid well above market, bang, that is the starting gun for the mark-up phase

... all the bids start coming in higher and higher but only a few get filled, fomo kicks, still no volume, the sellers are going to wait for the new price level to establish when it's in new territory

The 64k question (lol look what I did there?) is how far will the fomo send it?  There are two things that are "different this time".

1. I think there will be more fomo than we have ever seen by a LOT.  
2. The distance between 65 and 650 is quite different, and yet exactly the same as between 65,000 and 650,000.  That's where the really chewy part comes in I think...
I have no idea.

Well that is a way of looking at it.  Personally I say  teasing really does make people anticipate explosive finishes.

How about we slowly go to 70k Dec 31 and float around  the 70-90 range for most of Jan-June. Then explode past 300k by aug 1

This works for me.

You just want to mine more before it goes up don'cha?

[eddie13]

ATH ATH ATH

ATH

[UnDerDoG81]

All time high!

[BobLawblaw]

Gentlemen.

[PoolMinor]

New poll, please

[xhomerx10]

BOOM!

new ATH

[samson]

Seeing prices higher than $67.3k

On the up!

[TheJuice]

'grats hodlers. ATH

67k checking in.

[lightfoot]

Wow, look at that dildo. However needs to hit 68 for another helicopter

[cAPSLOCK]

The 64k question (lol look what I did there?) is how far will the fomo send it?  There are two things that are "different this time".

1. I think there will be more fomo than we have ever seen by a LOT. 
2. The distance between 65 and 650 is quite different, and yet exactly the same as between 65,000 and 650,000.  That's where the really chewy part comes in I think...
I have no idea.

The difference between 65/650 and 65k/650k is not in the ratio itself.
It is in the ratio between the numbers involved and the total amount of fiat in the world.

Q. Got it, daddy! So, is the whole amount of fiat in the world 1000x as much as it was when the corn was at 65?
A. Not yet, son, but they're working hard at it.

(Fuckin' legend!)

EDIT: I think @Biodom was meaning much the same thing in his latest post.

Heh.  Exactly.  And that's just the thing.  Because it is easy to look at the difference between 65k and 650 as the difference between a Mercedes, and a fairly nice house.  Whereas the difference between 65 and 650 could be just the number of people you take to a nice dinner.

So looking at this in personal terms it seems unlikely that the markets can move that much, at all, much less even SOMEWHAT quickly.

But when you look at it in terms of how much money there is in the world?  From that distance 65k and 650k are a dropper and a thimble. 

At 650k we are still *only* ~ the market cap of gold.

We have not even BEGUN to hear the people screeching about tulips yet.  The REAL screeching has yet to begin.

-edit-  I need to calm the feck down.  This is blow off top type talk.  But the thing is I am not doing it because we are in a bull... I am doing it because we aren't really yet.   OK ENOUGH!

[realsteelboy]

Yes please

[_javi_]

Get the choppa ready!!

where are the rocket and train gifs??

Congrats fellow WOs hodlers!!

[soullyG]

Gentlemen.

[Syke]

It's going up forever, Laura.