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

[BitcoinBunny]

I'm getting in early but it's nearly new years in my part of the world so happy new year to you all! Hope it's a great 2022 and it's been a pleasure to share this ride with you all over the past few years! Here's to new heights, good health and great friends

Happy New Year to all of you!

Wishing to you guys a lots lots of green candles in 2022.

[ChartBuddy]

Explanation

[dragonvslinux]

Well look at that!  Seems we got a decent bounce.  But now the question is what next...  the volume and all the other signs are pointing to breaking down.  And being the last day of the year coming up you would think the bears and bulls have a little shenanigans planned for the next 24-48... SUCH FUN watching the walls!

Highest Daily volume candle since October 6th on CB? Not convinced volume favours the bears anymore, even if was previously the case (and when you posted such an observation).



Price is struggling to get over the 200 Day MA & VPVR point of control around $48K, but otherwise looks neutral short to mid-term while remaining at this level. Quite simply, a rejection from this price is again bearish and a break above is again bullish. Hence $48K always being a key price level for me.  Notably, the bears yet again failed to push prices lower than $46K, that instead attracted considerable buying pressure.

For now the trend remains sideways, with buyers stepping in below $48K and sellers stepping in above it. Until this narrative breaks, price remains undecided in a short to mid-term. Price has otherwise bounced from some longish-term support, which is a positive sign, but requires closing above $48K as well as moving back above $50K for confirmation. Otherwise is nothing more than another dead cat bounce.

While not being an expert in Wycoff accumulation theory, I am beginning to see this pattern within the current short-term trend:



Needless to say, it requires confirmation by a breakout above the current resistance level around $51K. Looks similar though.

The Wyckoff accumulation phase is a sideways and range bound period that occurs after a prolonged downtrend. This is the area where larger players try to build positions.

[ChartBuddy]

Explanation

[aysg76]

This is some good shit 



This road patch is also going to be soon degraded with time like his image because doge is doge which means it is shitcoin.

[Shamm]

Hello world Observer family, me again Shamm
I will not active here since last week cause we were hit by a typhoon and I save my baterry percentage. But know my neighbor offer me to charge my phone cause they have a generator.

I want to greet you all a happy HAPPY NEW YEAR 🎊

[PoolMinor]

This is some good shit 



This road patch is also going to be soon degraded with time like his image because doge is doge which means it is shitcoin.

Doge was the original stable coin. Trading at 30 sats for so long. I see it stable @ $1 if they can reduce the fee structure and initiate a burn of sorts to make it more deflationary.


What is going to happen to all the stable coins when the currency that they are representing becomes hyper-inflated?
 

[d_eddie]

What is going to happen to all the stable coins when the currency that they are representing becomes hyper-inflated?

They stay pegged to hyperinflation, and the holders get pegged too - in a different way.

[ChartBuddy]

Explanation

[cAPSLOCK]

Actually i've been waiting for the male-british-gay version of Jeanne d'Arc for too long.
But i fear Hollywood will annoy us with Joan Rambo first 
Sigh...

I can't wait to watch that show where they portray Anne Boleyn as black.

Fuck this Goddamn space rock.

As long as there are people who can see and fight the nonsense we will eventually get back to where we need to be.  This madness cannot last forever.

Though there are times I am close to giving up...

[xhomerx10]

~snip
We would likely need some mutually agreeable escrow.. so another thing that I am thinking is where the fuck is

@Dabs

when you need him?
~also snip

 What with 4 different diets and 40 flights of stairs 3X per day, he is far too busy shedding the winter weight to worry about escrow.   

[d_eddie]

Actually i've been waiting for the male-british-gay version of Jeanne d'Arc for too long.
But i fear Hollywood will annoy us with Joan Rambo first 
Sigh...

I can't wait to watch that show where they portray Anne Boleyn as black.

Fuck this Goddamn space rock.

As long as there are people who can see and fight the nonsense we will eventually get back to where we need to be.  This madness cannot last forever.

Though there are times I am close to giving up...

It is rumored that Anne Boleyn was the granddaughter of Kunta Kinte himself. Or was it MLK's stepsister? Can't remember.

[ChartBuddy]

Explanation

[OutOfMemory]

Actually i've been waiting for the male-british-gay version of Jeanne d'Arc for too long.
But i fear Hollywood will annoy us with Joan Rambo first 
Sigh...

I can't wait to watch that show where they portray Anne Boleyn as black.

Fuck this Goddamn space rock.

It is what it is.
Try to make the best out of it. You got one chance 

[ChartBuddy]

Explanation

[cAPSLOCK]

Well look at that!  Seems we got a decent bounce.  But now the question is what next...  the volume and all the other signs are pointing to breaking down.  And being the last day of the year coming up you would think the bears and bulls have a little shenanigans planned for the next 24-48... SUCH FUN watching the walls!

Highest Daily volume candle since October 6th on CB? Not convinced volume favours the bears anymore, even if was previously the case (and when you posted such an observation).



Price is struggling to get over the 200 Day MA & VPVR point of control around $48K, but otherwise looks neutral short to mid-term while remaining at this level. Quite simply, a rejection from this price is again bearish and a break above is again bullish. Hence $48K always being a key price level for me.  Notably, the bears yet again failed to push prices lower than $46K, that instead attracted considerable buying pressure.

For now the trend remains sideways, with buyers stepping in below $48K and sellers stepping in above it. Until this narrative breaks, price remains undecided in a short to mid-term. Price has otherwise bounced from some longish-term support, which is a positive sign, but requires closing above $48K as well as moving back above $50K for confirmation. Otherwise is nothing more than another dead cat bounce.

While not being an expert in Wycoff accumulation theory, I am beginning to see this pattern within the current short-term trend:


Needless to say, it requires confirmation by a breakout above the current resistance level around $51K. Looks similar though.

The Wyckoff accumulation phase is a sideways and range bound period that occurs after a prolonged downtrend. This is the area where larger players try to build positions.

I have always been drawn to the wyckoff model.  Just like many other forms of somewhat complex TA models I wonder if we are looking at animals in the clouds (speaking of clouds... that is the one TA discipline I COMPLETELY do NOT understand, although I enjoy our Toxic's charts).

But I think what is interesting me at THIS particular moment is we have several interesting factors aligning at the same moment.  The dateline being the most unusual one.  With the tax implications as well as the futures expiration obviously taking a role.

Obviously Bitcoin might cross into the new year and just keep plowing along sideways overall between 30-65k for months, or even forever (Laura), but it's pretty hard to imagine.

I feel like we are witnessing the biggest game of global financial chicken ever played.

And yet a guaranteed winning move is very easy to pull off...  And though I am watching the charts like crazy, I am playing the same game I have for over a decade.  Hold.  Maybe buy a little.  Play with my nodes.

[ChartBuddy]

Explanation

[shahzadafzal]

WO bros at their best….      
How are the moves?

[ChartBuddy]

Explanation

[JayJuanGee]

Hence $48K always being a key price level for me.

$48k for you, and $42k for me, and surely for me $45k or sub $45k would start to get my attention more, merely because at that point, we would be getting close to my area of interest... so still seems like nothing to write home about, even though it would feel better for me to be higher in the $42k to $62k range rather than lower... right in the middle would be nice.. but bitcoin does not tend to want to do nice..

   


So we (royal that is) need to try to roll with the punches, whatever those might be.

Needless to say, it requires confirmation by a breakout above the current resistance level around $51K. Looks similar though.

The Wyckoff accumulation phase is a sideways and range bound period that occurs after a prolonged downtrend. This is the area where larger players try to build positions.

Not a bad idea that we might have a wee bit of some stuckness in our current price arena.. and surely there might be some desires to try to get the BTC price to go down more, but realization that there might be some difficulties getting the price to go down lower.. so if you cannot get the price to go down lower, then you might engage in some accumulation while rethinking the matter..... so if you are wanting to focus on a smaller range of largely where we have been in the past 28 days-ish of mostly $46k to $52k, then sure there might be a question of whether we are going to be breaking up or down from there.. and for sure we are even in the lower end of that range in the past 3 days-ish....

more crying...  

Of course for me, if we were to be trying to calling odds for a break out then the smaller range $46k to $48k is most immediate then the $46k to $52k becomes a bit broader but still remains decently immediate.. so yeah, should these little mini-battles be all noise?  and can we get back into the middle of the broader $42k to $62k range in order to be able to relax a wee bit more?

For sure, I can see how this current range can become quite depressing for some folks, and surely could motivate the shaking of a few more weak hands.. and if enough week hands are shaken with some further hard pushes towards testing support, the bears might be able squeak out some additional victories.. whether it is in the cards, I am not sure, and surely since I consider the overall framework to be in a bull market, I am going to continue to assign any odds of breaking out for any of the ranges to the upside.. even if they might be slight and there is a certain amount of testing of the resolve for any of us when we continue to have movement within a price arena that continues to be so low on the various broader ranges and if we do end up getting serious testing of $42k-ish..... absent some kind of another quick wick..  I might have to re-jigger some of my own fleshing out of DOWNity thoughts....