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

[ImThour]

Warren Buffet has invested $1 billion in #Bitcoin-friendly Nubank

https://twitter.com/Blockworks_/status/1493659000205987856

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[Hueristic]

Wasn't there a separate thread for all the COViD discussions.....

Actually this convoy thing is supporting the immutability argument which makes it a different animal all together.

Oh yeah, the seizing of bank accounts and the utter stupidity of trusting some cheap shit Christian "donation" site run by people who can't seem to hire people to secure the... thing (maybe they trust in the LORD) points out why crypto is a good idea and is worthy of discussion.

However the "fake virus" crap (and the "Dude, you're gonna DIE stuff) should stay out of this thread. I sit on my hands myself......

Back to the regularly scheduled drama.

This thread has been full of drama for so long I doubt the lie it was created to watch walls.

Bottom line is this is definitely on topic.

*note I'm not making any argument for selectivity choosing whats discussed here, just like roach shit I just hit the ignore button.

[JayJuanGee]

Even if Ratimov's chart is showing a resistance around $44k.. we have already been to $44k and even $45k.. and we were almost to $46k...
Personally, I believe that there is a need to both break above $46k and to stay above for around 1 day or longer... and that does not confirm that we are returning to the bull run, but instead that the bottom of $32,951 is likely in...

It doesn't matter where we were, what matters is where the volume has taken hold.

I suppose that largely when I say "understanding where we were" or "where we are" or even "where we might be going", I am largely referring to a larger context.

Sure, we have short term dynamics that need to be overcome, but if we zoom out to a larger context, many of us likely appreciate that there is a lot of underlying bitcoin dynamics that are not captured by short-term charts and short-term behaviors.. ... so in that regard, I do not give too many shits about short term analysis and getting into any kinds of details to attempt to predict what might happen.., will we get over $46k or not?  things like that..   We will see once it happens, and part of my point is merely that it feels quite a bit more comfortable to be further away (further up) from the most recent local bottom, than it feels to be within striking distance of such bottom... volume comes or not.. I give few shits.. because we have seen price rises that happen on large volume and low volume.. so sometimes there just is not enough ability to keep pushing the price down.. and BTC price just starts to trickle up whether large volume is involved or not.

And you look at the shadows of the candles. The level is always formed on volumes, and not on shadows, which most often serve to throw off speculators by triggering their stop losses and liquidations. Moreover, given that short traders used a lot of leverage, the market went against them, hunting for their liquidation levels and stop losses. After that happened, the derivatives trail subsided a bit.

Another good way to determine the level and price resistance is with a line chart, it shows real volumes, without any price spikes caused by short-term market tourists:



It shows the 44,000 level. This is exactly where the price is really resisting. And today's candle just rebounded from this level:



This means that the level at 44,000 is still relevant and supported by the bears.

You can analyze lines to your heart's content.. .I give few shits... nothing personal.

At this time, I am personally not going to feel more comfortable about the bottom of $32,951 being in until we get above $46k for about a day or more... and sure, I might change my tune, and maybe I am a bit random or SOMA in my consideration of that number, but I consider my price point to be as good as the $44k line.. because we have already been at $44k and $45k and even we were nearly at $46k for a short period of time..... so sure.. maybe we could already say that the bottom is in or whatever, but $44k still seems like a lot of noise to me.. give me more, moar, MOAR.. and sure it is ONLY a couple thousand.. but the fact that we were so close to $46k about 5 days ago.. gives me more confidence that it would be better to get above such seemingly random price point... before my confidence that the bottom is in goes up from 45% to 53.46295%  or whatever happens to be my current feeling about the matter.

Another thing is that in around July-ish, I was using $46k as my price-point at that time too.... .and I am not sure why I am gravitating to $46k again, but the passage of time, does seem to allow for $46k to be used again, even though our local bottom this time around of $32,951 is more than $4k higher than our summer 2021 bottom of $28,600-ish. 

Call me a turd.. but I don't get too many pleasures from getting too caught up in various short-term predictions based on various squiggly lines, even though I do tend to merit your posts for sharing that kind of information.. for sure, taken with a grain of salt.. and not too much weight given to them.. .. and if you start to argue to attempt to give them more importance than they likely deserve then you are likely going to find me fight back with such proclamations, even if you may have made some decent points about potential short-term noise, including but not limited to resistance/support levels.

[ChartBuddy]

Explanation

[Biodom]

@jjg...you got it ass-backwards, as usual.
I was the OP who gave these numbers (46K, 46-52(5)K, above 61K no-man land).
YOU are the follower aka copy-cat.

[ChartBuddy]

Explanation

[JimboToronto]

75% of Canada approves of what the Trudeau administration is doing?  God, I hope not.

Most Canadians do not approve of invoking the Emergency Act. Most I've talked to think they went too far.

75% of Canadians think the idiot truckers should go home.

They made their point. Sure they had some public sympathy at the start when it was still a peaceful protest. After they disrupted a major city making thousands of people's lives miserable, then blocked international trade costing billions of dollars, support quickly dwindled.

Once you've gotten the message (or given it), hang up the phone.
____

Don't believe everything you see in the mainstream social media. There are two sides to every story.



https://www.cbc.ca/news/canada/ottawa/covid-19-counter-protest-trucker-protest-1.6349936

[ChartBuddy]

Explanation

[Torque]

They made their point. Sure they had some public sympathy at the start when it was still a peaceful protest. After they disrupted a major city making thousands of people's lives miserable, then blocked international trade costing billions of dollars, support quickly dwindled.

You mean like how the governments of the world shut down the entire world economy for a whole year, costing hundreds of billions of dollars in lost jobs and economic destruction?

Once you've gotten the message (or given it), hang up the phone.

Wow...a former hippie man of the 60's/70's that no longer understands the purpose of protests, which is to affect a change. How sad. They only want the mandates removed and their personal freedom restored, not just "acknowledged".  

Don't believe everything you see in the mainstream social media.

Oh that's some ripe irony there.

[BobLawblaw]

#LNMETA

Fucking hell I need to get on Rick to write that AI project for me to automagically adjust fees based on activity.

Managing nodes that connect to you, and then start draining liquidity at default rates are becoming a minor annoyance; the script should be able to start cranking fees as it starts seeing more activity on the channels, but, well, this ranch isn't gonna build itself, and Rick becoming a bee-keeper and wildlife manager is becoming time-consuming, so...

RTL could use so much work on the UI front. Wish I could select a whole bunch of channels, and set the fee rates on 'em in one go, but, it's either Change All Fees to New Defaults, or hand-management of each channel.

I really can't stand it.

It's becoming a job and stress.

[BobLawblaw]

75% of Canadians think the idiot truckers should go home.
They made their point. Sure they had some public sympathy at the start when it was still a peaceful protest. After they disrupted a major city making thousands of people's lives miserable, then blocked international trade costing billions of dollars, support quickly dwindled.
Once you've gotten the message (or given it), hang up the phone.

No.

That's not how revolutions work.

You don't go home when you are told.

You are fighting to make your home a better place due to the tyrants running the place.

If you are listening to, and doing the will of the tyrants, you are a part of the problem.

[ChartBuddy]

Explanation

[modrobert]

"I am hoping that we see the police and military eventually defend the population gathered in the streets of Ontario rather than follow unrighteous commands from a leader who has clearly lost his countries heart."

that's delusional.  all parties asked the protestors to go home.  also, fuck em (says 3/4 of canada)
edit: nice little stash from protestors at one of the border crossings.  Restrictions are ending, time to end the economic blockade and reopen the car plants.  take credit if ya want

The protesters are protesting a single thing.  "Go Home" is not the answer they are looking for.   They are asking that vaccine mandates be dropped.  Framing them as something other than free Canadians who have a right under their own charter to protest is disingenuous.  

And all the rhetoric about them being "White Supremacists, and Terrorists, and Confederates" (LOL!) is so transparent at this point it's hard to believe ANYONE is falling for it... but evidently some are?  And I think out of the tens of thousands of protesters find some guns might happen, but from all the live reports I have seen these protesters are peaceful.

75% of Canada approves of what the Trudeau administration is doing?  God, I hope not.

1) Peaceful protest, friendly atmosphere, lots of people join.
2) Clear demands; no more vaccine mandates/passports.
3) Alberta eases covid restrictions, the protests seems to be working!
4) Suddenly automatic weapons are found on protesters when the government is starting to end the protests by force.

Why would the protesters do the only thing that would ruin their chances of success (by bringing weapons to a peaceful protest)?

I don't buy it, smells false flag, especially considering the desperation to freeze bank accounts and going after Bitcoin in the same time frame.

[goldkingcoiner]

I noticed that there are exactly two kinds of people in crypto right now:

1.
Cryptocurrency is the future. I can't wait for my Bitcoin to gain higher value as more people adopt it.


2.

[eXPHorizon]

@jjg...you got it ass-backwards, as usual.
I was the OP who gave these numbers (46K, 46-52(5)K, above 61K no-man land).
YOU are the follower aka copy-cat.

Sneezed 3 times while reading this then you know its true.. so you have a Glimpse of what i been telling u, xD

[hisslyness]

#LNMETA

Fucking hell I need to get on Rick to write that AI project for me to automagically adjust fees based on activity.

Managing nodes that connect to you, and then start draining liquidity at default rates are becoming a minor annoyance; the script should be able to start cranking fees as it starts seeing more activity on the channels, but, well, this ranch isn't gonna build itself, and Rick becoming a bee-keeper and wildlife manager is becoming time-consuming, so...

RTL could use so much work on the UI front. Wish I could select a whole bunch of channels, and set the fee rates on 'em in one go, but, it's either Change All Fees to New Defaults, or hand-management of each channel.

I really can't stand it.

It's becoming a job and stress.

Bob, please please please.... Save some routing fees for us!...

on another note, are there any new LN nodes?

[ChartBuddy]

Explanation

[JayJuanGee]

@jjg...you got it ass-backwards, as usual.
I was the OP who gave these numbers (46K, 46-52(5)K, above 61K no-man land).
YOU are the follower aka copy-cat.

Oh gawd.. you are pathetic.


Do you have anything more interesting to discuss in regards to your latest theories about BTC price or something a bit more substantive?
What do you think about our current $40k to $46k price range?

How about the so far $32,951 bottom?  Are we going to get another challenge to such $32,951 bottom before we get a challenge to $50k-ish?

Anything else that might be interesting besides your ongoing easy distraction into nonsenses?  Did you buy the dip?  or are you still waiting?

75% of Canada approves of what the Trudeau administration is doing?  God, I hope not.

Most Canadians do not approve of invoking the Emergency Act. Most I've talked to think they went too far.

75% of Canadians think the idiot truckers should go home.

They made their point. Sure they had some public sympathy at the start when it was still a peaceful protest. After they disrupted a major city making thousands of people's lives miserable, then blocked international trade costing billions of dollars, support quickly dwindled.

Once you've gotten the message (or given it), hang up the phone.
____

Don't believe everything you see in the mainstream social media. There are two sides to every story.



https://www.cbc.ca/news/canada/ottawa/covid-19-counter-protest-trucker-protest-1.6349936

How are we going to know the extent to which we are being lied to? and geez if there are rights to assemble to petition your government for redress of grievances, then sure there could be some questions of balance in terms of how much disruption might be allowed, and is the use of trucks something that can be managed.. surely the use of trucks brings some pretty BIG tools (leverage) on the side of the protesters, and we know that acts of violence are frequently exaggerated (so i have my doubts about the truthfulness of those claims, like ModRobert mentioned), though of course, tensions are going to increase sometimes when there are people coming to the grievance (protest) with agendas that are not always too synchronized in terms of what the group might be wanting to get regarding government overreach - which ends up being double-down upon. 

I am not claiming to know the answers and I do value the rights to protest, assemble seek redress of grievances.. but I doubt that it is clear that the protest should just stop because some people don't like it, it's inconvenient, there are negative economic impacts.. even though there could be some value in getting the message out there.. but if they are not receiving anything but heavy backlash from the government (no concessions at all), then the protesters are likely inclined to double down rather than back down when the see the government doubling down and failing /refusing to treat any of their grievances seriously.

I noticed that there are exactly two kinds of people in crypto right now:

1.
Cryptocurrency is the future. I can't wait for my Bitcoin to gain higher value as more people adopt it.


2.

What about the kinds of people who use gobbledy-gook language, and you are not really sure what they are talking about?


I do agree that our current NFT phenomena does have a lot of weirdness within it...

[lightfoot]

That's not how revolutions work.

Um. Is this a protest or a revolt? Very different situations with different rules of engagement.

You don't go home when you are told.

You are fighting to make your home a better place due to the tyrants running the place.

If you are listening to, and doing the will of the tyrants, you are a part of the problem.

Sounds like we're talking about an insurrection. Well, at the moment it's at most moving from a protest to a rat pack/mob. Another 2-3 months and it would be an insurrection. 6 months after that it's a full blown civil war.

So where are we here?

[fr4nkthetank]

ain't gonna be a revolution over 4-500 trucks parked in Ottawa gimme a break.  plus thats not how you do things in a democracy.  especially not in Canada.  Quebec referendum anyone ?  anyways, they are just mad they can't go to timmies without a mask.  this war talk is really, really retarded.  About as retarded as storming the capitol in the us.

Back to bitcoin, has anyone read the JP morgan piece ?

https://am.jpmorgan.com/us/en/asset-management/institutional/insights/market-insights/eye-on-the-market/the-maltese-falcoin/