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

[BitcoinBunny]

Reinforcements please

Sent in the troopers

Presumably if you move to the other side of that lightning bolt it looks mega bullish.

[Dabs]

Did you know, lightning actually travels from the ground to the top (or the clouds) ...

[dragonvslinux]

Genuine wall observing on Coinbase, waiting to see if $55K will hold after initial re-test:



Old resistance level to become new support on small time-frame? Only time will tell.



Either that or expecting the $50K strong long-term support area to come into play if $55K breaks.

Am otherwise beginning to see the argument for a bullish descending wedge pattern:



So breaking back above $58.5K could certain see new ATH pretty swiftly. But the pattern appears to be lacking confirmation of third touch-point of support.
Very much like the bearish broadening wedge theory... so lack of confirmation of a bearish or bullish pattern in reality.

on the 4hr, the bears remain in control by creating lower highs as well as trapping bulls at higher prices

What a riddle, but surely could not have lower odds of coming true than the mumbo jumbo that dragonvslinux just propagated upon us....

After anticipating some bearish short-term price movement that has now occurred, after multiple rejections from higher levels, I wouldn't be surprised to see price return to short-term distribution level of $57K, as well as resistance trend-line. Simply to trap the bears at lower levels, similarly to how bulls recently got trapped at higher levels, without confirming a notable reversal at the same time, but merely a fake-out.

Either way, price is setting up for a breakout up or down in the near future, possibly over weekend, that still favours the bears in the short-term.

[cAPSLOCK]

I stilllike the PlanB content

He earns lots of respect for the work he has done etc

Totally agree.  So many folks see him as black and white too.  If you listen to him he very much recognizes that his models have been AMAZING that they have held up so long.

I really have come to like the second s2f model with the other assets included.  I think ultimately it is a more appropriate data set than just comparing purely against the USD.  I think comparing against the USD is like the temperature.  While the cross asset model is more like the weather.

I think he has a sizable bet he might be about to lose to another TA luminary.  I can't remember if it was a whole BTC or 100k.  Maybe because thats the whole bet... that it goes to 100k by end of year.

Even if he loses I think he got close ebnough to still be notable.  That said, if it does not quite make 100k @davethewave's model will be proven as the winner.

Thing is I think that model is doomed too since it is basically the opposite of the cross asset model.  Only taking into account the USD value, and banking on a decreasing parabolic arc.  I think the "S shaped" adoption breaks Dave's model eventually.

[cAPSLOCK]

The world normalizes a worldwide obesity epidemic that's only getting worse as no big deal.

I could go on and on, but I'll stop here.

And then they call us Bitcoin buyers as "crazy".  

I'll pick this one, only because you mentioned it. A lot of the world are in hunger or poverty. The people who have obesity have a different problem and for many of them it's a personal thing. Only a few of them have a real medical condition that warrants treatment, the rest should be able to fix themselves on their own if they can just eat less.

Again, there are some who have real problems, but it seems to me a lot of the others have the problem in their heads only.

Just to nit pick.  I think it is the CONTENT of the diet that causes it, not the amount. It is easy to see the human body as an energy in->energy out machine.  But the systems (citric acid cycle, hormones, etc) are FAR more complex than that.  

It really does come down to macro nutrients.  Thre are two big things we eat now that we did not used to.  Highly refined carbohydrates and seed oils.  People who drop those two things will live longer and look more like our great grandparents who did not eat them.

This age's "people chow" has hijacked out metabolisms, and the drug companies have "fixed it" by throwing gasoline (insulin) on the fire.

The good news is you can eat real food fairly easily.

I lost 60lbs effortlessly by doing this and have kept it off for 7 years...  anyone wants any input on what works PM me, though I spelled it out 95% above. It's actually simple.

-EDIT-  I see Torque already laid this out.   I will say one other thing.  When I changed the content of my diet I did not have to even CARE about the amount.  I cuold eat like a horse and would still lose weight.

That's another clue.  If the system was purely energy in/out, then we would have skeletons and super fat people.  Because just eating an extra 100 calories a day that you do not need?  That will eventually make you morbidly obese... and same thing with a deficit.  The body would waste away with a -100 kCal deficit.  But our hormones and systems adjust and keep us in the "set weight" zone either way.  What MOVES the set weight are things that cause the body to produce insulin.

[ChartBuddy]

Explanation

[ivomm]

This might be a bear trap. Then straight to 60K+.

[Karma24]

It litteraly can't go tits up

[AlcoHoDL]

[...]

-EDIT-  I see Torque already laid this out.   I will say one other thing.  When I changed the content of my diet I did not have to even CARE about the amount.  I cuold eat like a horse and would still lose weight.

That's another clue.  If the system was purely energy in/out, then we would have skeletons and super fat people.  Because just eating an extra 100 calories a day that you do not need?  That will eventually make you morbidly obese... and same thing with a deficit.  The body would waste away with a -100 kCal deficit.  But our hormones and systems adjust and keep us in the "set weight" zone either way.  What MOVES the set weight are things that cause the body to produce insulin.

I like that explanation about diet. Very insightful. Thanks.

[Dabs]

Yeah, diet is more complicated than it seems to be, but I'm basically a carnivore ... actually, omnivore ... eat real food.

I keep telling others that I am on a See Food diet. When I see food, I eat it.

Junk = is not food.

But yeah, you have to watch what you eat, not so much how much of it you eat (but watch that too.)

[Torque]

It really does come down to macro nutrients.  Thre are two big things we eat now that we did not used to.  Highly refined carbohydrates and seed oils.  People who drop those two things will live longer and look more like our great grandparents who did not eat them.

Don't forget sugar. The average modern Western diet is loaded with massive amounts of sugar. It is pervasive in pre-packaged and pre-prepared food products. Our great grandparents did not eat this on the regular either.

The MSM (FDA and food industry) also spent decades vilifying fat, especially saturated fat, as the root cause of all health problems and disease. Even obesity. And because of that, most Americans have continued to reduce or try to eliminate fat consumption from their diets while increasing their refined carbs intake.

But new studies and research is out there (buried by the MSM, of course) that prove that fat (including saturated fat) is not only NOT bad for you, it's fucking essential to a healthy diet. Go figure.

[Richy_T]

Of course, this diet discussion is all academic as we can only afford Ramen now.

[ChartBuddy]

Explanation

[bitcoinPsycho]

Of course, this diet discussion is all academic as we can only afford Ramen now.

I prefer bread and pullit

[Biodom]

I am reading attestations of losing 60 lb and keeping it off with a bit of bemusement.
Maybe, when you are 30 (or earlier than 40).

At a certain age (35-40, typically), body weight is stabilized and it is VERY difficult to permanently lose weight.
In fact, any loss of 5-10% of the weight is considered by the body that you are 'starving' or 'dying', so it is throwing the "book" at you by adjusting hormonal systems in a way that keeping the lost weight becomes more and more difficult.

Of course, if someone starts eating pasta twice a day every day, they would gain a lot of weight in a short duration and then simply reversing that should be possible.

Btw, humans and other animals DO lose about 10% of the weight before death (for humans, in the last year or two).

[vapourminer]

Of course, this diet discussion is all academic as we can only afford Ramen now.

yup. i buy ramen by the pallet load and imma gonna burn the pallets for heat this winter. food AND heat in one shot.

[tertius993]

Of course, this diet discussion is all academic as we can only afford Ramen now.

yup. i buy ramen by the pallet load and imma gonna burn the pallets for heat this winter. food AND heat in one shot.

You can cook the ramen on the stove/fire as you burn the pallets - win-win-win

[Biodom]

This "cycle" is weird, if I may say so.
I am getting 'lost' in all these gyrations, but hodling through for better or worse.

[El duderino_]

This might be a bear trap. Then staight to 60K+.

Exactlyyyy

[Biodom]

This might be a bear trap. Then staight to 60K+.

Exactlyyyy

Dec 8 or shortly beforehand should provide a pivot (either up or down).
Knowing (from prior and current experience) how WS operates, there is often a counter move just before the main directional move.