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

[Hhampuz]

I welcome another market drop caused by covid. Last time this happened you could scoop up btc at around $3500, if you hodl it at current rates you're up what.. 1600% ish? Bring it on 

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[vroom]

nobody gives a shit about this new covid mutation. covid mutations are already priced in, everybody knows that a virus can and will mutate. why should bitcoin dump because of this?

[Paashaas]

Are we now at the point where scientists from (in this case) South-Africa can cause a global market drop when they discover another virus mutation?

Nha, countries tightens borders and suspending flights to and from South-Africa and cosing border for travelers.

This shitshow starts all over agian.

[aysg76]

I welcome another market drop caused by covid. Last time this happened you could scoop up btc at around $3500, if you hodl it at current rates you're up what.. 1600% ish? Bring it on 

We have seen the worse than it and now ready for bad also not afraid of it now and yes we will be up if we hold it this time also.Just slight back to make high jumps 

Me to panic sellers and newbies 

[ivomm]

I've lost count how many times this year a sudden 10% drop liquidates hundreds of millions high leverage long positions. Man, these n00bs never learn! You can't get rich overnight in Bitcoin, duche bags! But I'm happy, because I didn't hope for such low prices at this time of the year. Time for me to buy some cheap corn  

[OutOfMemory]

Are there any good thanksgiving movies you guys can recommend?

I don't celebrate TG, but try "die in a gunfight", which is one of the best movies i came across lately.

EDIT: also bought a little dip at $54.849 Wohooo!

[somac.]

Are we now at the point where scientists from (in this case) South-Africa can cause a global market drop when they discover another virus mutation?

Nha, countries tightens borders and suspending flights to and from South-Africa and cosing border for travelers.

This shitshow starts all over agian.

Pretty stupid though, particularly as markets have last year's lesson to go off. Covid also shouldn't be considered a big deal even if mutated, because of vaccines, treatments (pfizers pill is 90% effective), and a lot of the vulnerable already killed off. This dip will not last long. We're also at a good support level and on-chain data is still bullish (unless that has changed in the last 10 hours).

[vroom]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

[somac.]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

I wouldn't be surprised if we get a bounce. But this dip is not a bitcoin dip, everymarket out there is dipping, this is a global thing. And when the fear of Covid disaster is over, everything will pump again. That may be 6 hours, because it shouldn't take everyone too long to realise that this is just a big scare campaign, or if it's the real deal, that governments and central banks will print print print again and again.

[ChartBuddy]

Explanation

[dragonvslinux]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

I wouldn't be surprised if we get a bounce. But this dip is not a bitcoin dip, everymarket out there is dipping, this is a global thing.

Why is S&P currently up today and breaking above above recent accumulation/distribution zone then? Maybe this is just BTC futures related as vroom suggests, and nothing to do with new covid variant.

And when the fear of Covid disaster is over, everything will pump again.

Indeed the "covid dumps" are only ever temporary before the longer-term trend continues, this much has always been clear in the past. Good dip buying opportunity for the long-term it seems.

That may be 6 hours, because it shouldn't take everyone too long to realise that this is just a big scare campaign, or if it's the real deal, that governments and central banks will print print print again and again.

In fairness, if the dip is covid related (not convinced), it could easily continue for days/weeks longer. This is only Day 1 of new variant panic/fud announcement, with some travel restrictions applied so far. No doubt if the variant is as dangerous or wide-spreading as scientists are claiming, and spreads to more countries and continents, within a week or so the effects could be a lot worse than present.

This doesn't mean lower prices, so much as a longer time for price to consolidate before moving higher. Either way, price consolidation is healthy right now.

The current price action is otherwise exactly as I suspected, regardless of virus theories: consolidation or further downside as opposed to immediate upside:

I'll be the contrarian to other uber-bulls here and agree that currently price is having a dead cat bounce on the 4hr chart, nothing else has confirmed otherwise other than doses of hopium.
A death cross was confirmed yesterday (as circled) while previously price was perfectly rejected by the VPVR point of control. For sure, so far it's only a DCB.

Now the $56.5K level has been broken (as well as 50 Day MA), price can certainly go lower, even if not necessarily by much more, as it becomes the path of least resistance in the short-term now.

[naim027]

I welcome another market drop caused by covid. Last time this happened you could scoop up btc at around $3500, if you hodl it at current rates you're up what.. 1600% ish? Bring it on 

Related?

[somac.]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

I wouldn't be surprised if we get a bounce. But this dip is not a bitcoin dip, everymarket out there is dipping, this is a global thing.

Why is S&P currently up today and breaking above above recent accumulation/distribution zone then? Maybe this is just BTC futures related as vroom suggests, and nothing to do with new covid variant.

Here's the S&P500 1hour futures chart, the S&P500 itself is not open price has fallen




Your chart appears to be last close.

Some more futures

[Syke]

Related?

https://i.imgur.com/BMh1pTs.jpg

I may regret this, but yeah, +1 merit. On topic.

[BitcoinBunny]

Fuck China
Fuck Lockdowns
And Fuck Joe Biden

[dragonvslinux]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

I wouldn't be surprised if we get a bounce. But this dip is not a bitcoin dip, everymarket out there is dipping, this is a global thing.

Why is S&P currently up today and breaking above above recent accumulation/distribution zone then? Maybe this is just BTC futures related as vroom suggests, and nothing to do with new covid variant.

Here's the S&P500 1hour futures chart, the S&P500 itself is not open price has fallen




Your chart appears to be last close.

Some more futures

Oh fair, my bad. I hadn't noticed that market wasn't open and up to date. I see the drop now! +1

[OutOfMemory]

Fuck China
Fuck Lockdowns
And Fuck Joe Biden

You forgot the rusty pipes and all...

Other than that, the only thing you can do is accept what you can't change.

[bct_ail]

Nha, countries tightens borders and suspending flights to and from South-Africa and cosing border for travelers.

Since when does Bitcoin care about closed borders?

[naim027]

Fuck China
Fuck Lockdowns
And Fuck Joe Biden

Fuck Biden

[ChartBuddy]

Explanation