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

[JayJuanGee]

More fine #hopium

https://twitter.com/cryptomanran/status/1480063160539402243

The majority of the leverage in the market now is large shorts. We know this because price collapsed and the leverage didn’t. If we get a rally it could trigger the mother of all short squeezes. I’m talking $10k candles.

We have had 10k daily drops

10k daily pumps would be appropriate but nothing more. ….

Now we want 20k candles

If I understand your point, I do believe that we are in the process of graduating from $10k to $20k for the green candles, but we are in that awkward period in which we are NOT quite there yet.....

I also agree that it is perhaps conditional on whether we revisit at least mid 30-ies area. In fact, this is the second best scenario (the best being a simple bull continuation) as it would suggest the lows (or a simple retest of 29-30K) by the Spring and then off we go (bullish period of the next cycle starts).

I have my doubts whether it would be fair to characterize the kind of scenario that you are outlining as a new or next cycle, even though it is NOT completely illogical.

If we were to end up getting a blow-off top at anytime in 2022 or even 1st quarter of 2023 (sure even what constitutes enough UPpity price movement to be a blow-off top could be arguable depending on the degree and extent of the subsequent correction... seems that $220k plus would more arguably constitute a blow off top rather than tops that come in below $220k), reasonable arguments could be made that such top was just a delay in the earlier cycle...

Yet overall a lot of these kinds of "how to label" the BTC price dynamics arguments seem a bit premature when projecting out for the remainder of 2022.. even though it does not hurt to already have a tentative framework and even though for sure many of us are going to attempt to label (whether now, or at any later date along our bitcoin price journey)  in order that we can attempt to better understand where we are at based on where we have been and in order to attempt to better project reasonable frameworks for where we might be going.

sure the house of cards smoke and mirror scamming platform shitcoin called ETH may well have good chances to outperform the dollar,

At this point, a 2x4 will outperform the dollar. Handily.

Fair point.

......
You can clearly see from my amazing choreographed moves, I was Michael Jackson's main influence...

Opsec sirazimuth!!!!!!!    

.....

......

You didn't think I was actually serious did you? lol.  

Yes I did.  lol.


We have to believe everything that we read on the interwebs.  Don't uie no nuttin?

Then again, I showed vid to my daughter with same tall tale and I almost had her believing for like two seconds. lmao!
(the ginger hairdo mop got her thinking)

Can't get those years back..


reminisce though..

yes.

......

otherwise you are egging to get a batslappening, even if you had happened to have been a child prodigy.

 

Well, if being a rambunctious know it all brat, and pissing off one's parents and all one's elementary school teachers with silly shenanigans, are attributes of a child prodigy, then I'm guilty as charged...
Better give me a good batslappening Jay...

I am thinking that any Batslappening (especially virtual) does not work very well when the intended recipient is requesting/wanting it.  Some kind of alternative might be justified?  Maybe somehow forcing you to hang out in a one room school house with Save the RF for a day might suffice.. but not sure how to achieve?

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[ChartBuddy]

Explanation

[heslo]

Being a HUGE Trek fan, especially TNG and knowing the episode this is from; this is a perfect meme and just take my merits haha

[El duderino_]

[ChartBuddy]

Explanation

[marcus_of_augustus]

https://twitter.com/100trillionUSD/status/1480278373142310914

... PlanB so retro now, in the foothills of the super cycle?

I know some people have lost faith in this #bitcoin bull market. However we are only halfway into the cycle (2020-2024). And although BTC experiences some turbulence at $1T, the yellow gold cluster at S2F60/$10T (small black dots are 2009-2021 gold data)  is still the target IMO.

[ChartBuddy]

Explanation

[xhomerx10]

I am always trying to attack my biases.  And right now I am biased towards us not entering a crypto winter, as I have recently posted.

BUT.  I think I have found a scenario that might tend to undo my optimism...

https://www.wsj.com/articles/fed-minutes-reflect-growing-unease-over-high-inflation-11641409628

Inflation has the us Federal Reserve talking seriously about quantitative tightening.  This means higher interest rates.  And I think that could mean a few things:

1.  The stock market is a goner if they do this.  The reason we continue to see crazy upwards stonks is in great part due to the fact that they keep printing money and lowering interest rates.  This could take some of the wind out of those sales.  And those prices are so bubblicious already that it's hard to imagine anything but a bloodbath.

2.  Bitcoin is currently seen (by most) as the king of risk investments still... so I would expect Bitcoin might follow the stock market.

In some ways it's hard to say what they might do because they have painted themselves into a corner.  Crashing the already limping enconomy in the name of stopping inflation?  Or keep printing and shift into negative interest rates causing absolute explosions in risk assets and making a can of beans cost $4.

Hmm...  I kind of wish I had not had this thought... I was preferring the bullish mania I was in before...

I think this has already been posted here (or where would I get it from?), but Arthur Hayes depicts the same scenario. A good read as usual.

https://cryptohayes.medium.com/maelstrom-ee6021e9d0c2

EDIT: I prefer the bullish mania, too.

Hayes is ov er my head for most of that, but I agree it kind of sounds like hes on the same page pretty much.  Ugh.

 Hayes has done well for himself with Bitcoin.  He's a handsome guy who has charm, charisma, a boatload of confidence and a shit-eating grin but...
 


 He might have a BS in economics but that first paragraph was just plain BS; I stopped reading.  Then I decided to give it another chance and I read a little further until I read, "the price of Bitcoin swooned".  The article wasn't written for a hodler anway.  So I spent the balance of my time make the gif above.

Hopefully I don't regret my decision in the future.

[Copetech]

 


 
Hopefully I don't regret my decision in the future.

I know it's just a GIF, but IRL if this kid didn't get 20+ stitches to put his face back together, physics failed!

[xhomerx10]

 


 
Hopefully I don't regret my decision in the future.

I know it's just a GIF, but IRL if this kid didn't get 20+ stitches to put his face back together, physics failed!

 Arthur is easy.  Stitches are hard.  

 edit: It doesn't appear as though he gets cut.

https://www.youtube.com/watch?v=gOihfZE9Guw

[ChartBuddy]

Explanation

[Biodom]

from reddit:

https://www.forbes.com/sites/jamiecartereurope/2021/12/28/nasa-is-set-to-explore-a-massive-metal-asteroid-called-psyche-thats-worth-way-more-than-our-global-economy/

maybe a surprise in 2026: it is a "sleeping" gigantic robot that activates upon probe landing (something out of Mass Effect) /jk

...interestingly, they cannot make a focused image of this asteroid...I wonder why, maybe because it is very reflective and/or rapidly rotating?

[xhomerx10]

from reddit:

https://www.forbes.com/sites/jamiecartereurope/2021/12/28/nasa-is-set-to-explore-a-massive-metal-asteroid-called-psyche-thats-worth-way-more-than-our-global-economy/

maybe a surprise in 2026: it is a "sleeping" gigantic robot that activates upon probe landing (something out of Mass Effect) /jk

...interestingly, they cannot make a focused image of this asteroid...I wonder why, maybe because it is very reflective?

 OMG.

Don't look
up!

[Biodom]

huh?

Suddenly: Bob Saget dies in hotel

[Copetech]

from reddit:

https://www.forbes.com/sites/jamiecartereurope/2021/12/28/nasa-is-set-to-explore-a-massive-metal-asteroid-called-psyche-thats-worth-way-more-than-our-global-economy/

maybe a surprise in 2026: it is a "sleeping" gigantic robot that activates upon probe landing (something out of Mass Effect) /jk

...interestingly, they cannot make a focused image of this asteroid...I wonder why, maybe because it is very reflective?

 OMG.

Don't look
up!

On a global scale, which way is "UP?


OK, now same question but on a galactic scale??? Which way?

[xhomerx10]

huh?

 

 If I explained it further, I would be spoiling it for others.

[xhomerx10]

from reddit:

https://www.forbes.com/sites/jamiecartereurope/2021/12/28/nasa-is-set-to-explore-a-massive-metal-asteroid-called-psyche-thats-worth-way-more-than-our-global-economy/

maybe a surprise in 2026: it is a "sleeping" gigantic robot that activates upon probe landing (something out of Mass Effect) /jk

...interestingly, they cannot make a focused image of this asteroid...I wonder why, maybe because it is very reflective?

 OMG.

Don't look
up!

On a global scale, which way is "UP?


OK, now same question but on a galactic scale??? Which way?

 Check the direction the blood is falling from the gash on your face after punching a sign and up is the opposite direction.

[xhomerx10]

huh?

Suddenly: Bob Saget dies in hotel

 Wow.  65 is far too young.
RIP Bob.  AFV was never as funny once you left.

[Biodom]

kidding aside...say, if someone goes there and plants a flag, is it then 'theirs' or is the whole space 'stuff' unclaimable/belongs to everybody?

Found the provisional answer: "Most notably, the Outer Space Treaty prohibits governments from claiming sovereignty over space or for any celestial body. '' Therefore, no nation can give its citizens or any other nation exclusive use of any territory."

That said, possession is 9/10 of the law, isn't it?
It will belong to beltalowda (see the "Expanse" for meaning).

[xhomerx10]

kidding aside...say, if someone goes there and plants a flag, is it then 'theirs' or is the whole space 'stuff' unclaimable/belongs to everybody?

Found the provisional answer: "Most notably, the Outer Space Treaty prohibits governments from claiming sovereignty over space or for any celestial body. '' Therefore, no nation can give its citizens or any other nation exclusive use of any territory."

That said, possession is 9/10 of the law, isn't it?
It will belong to beltalowda (see the "Expanse" for meaning).

 Just based on a quick search, it seems as though you can't own an asteroid but if you mine something from it, it belongs to you.