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

[wagmi]

Time for HODL again, yesterday's fall sent BTC under many trendlines, many experts said.

Luckily, we know about HODL. 

Make sure, you won't sell because trading is very risky.
Only HODL!!
Prices can go up any time again and you don't want to be out of BTC when prices go up fast again. 

[machasm]

When we go sub $30k, who sold at the bottom?  

Who's our next Mindrust?

Dunno but there will be one or even a couple.

The first time that bitcoin crossed this price level (~$34k-ish) to the upside was on 01/02/21. That means that anyone that bought any bitcoin for the first time in the last 17 months and held it is likely underwater, all the while inflation jumped another +15% or so.

That sucks big time. Psychologically, 17 months is a long time for weak hands. (Of course that means that they are still winning vs. stonks with relative losses > 15% during the same period)

I just hope that they have the balls of steel to weather this storm. The tide will turn, and then none of them will be underwater.

I suspect that any noob weak hands have long sold out. Any further selling is likely to be done from players who already have a portfolio of stocks as well as bitcoin and are likely to just treat bitcoin as they do their stocks and sell or buy on FED news. Probably going to get worse before it gets better.
I would have liked to see more gains sooner rather than later but, hey ho, hopefully I wont peg it before it finally gets to where we all know its going. Wen Moon?

[danadc]

The best price for BTC that I like is obviously $100K, in this article they rely on it, for them it is more feasible to reach $ 100K faster than at $30K:

According to Credible Crypto:

In a video using Elliott Waves, Credible Crypto thus mapped out a move to a new macro top of between $100,000 and $200,000 for BTC/USD before a drawdown which could take liquidity at $30,000 or under.

and:

“But again, based on market context and everything else that I’ve seen, I think that’s a little bit more unlikely; I think it’s a lot more likely that we leave these lows untapped and simply continue up.”

Source: https://cointelegraph.com/news/more-likely-btc-price-will-hit-100k-before-bitcoin-sweeps-30k-lows-forecast-says

It is not that it is very positive, but if it is very feasible that it occurs, most of the analysis gives BTC to reach a price of $32K even $30K, I think this analysis is closer to what reality is.

[ChartBuddy]

Explanation

[savetherainforest]

I like how no one is paying attention.


ALL EXCHANGES WILL REMOVE TETHER FROM USE BY SEPTEMBER 23.


Reason: USDT (a.k.a. Tether) it is the propriety technology of the United States Federal Reserve Bank.

And after the network was bought and transferred ownership to the FED. They have a deal cut with the SEC to let them issue as much quantity as they want, just because they can print it.


Manipulation... BRRRRRRRRRRR!!!    

[empowering]

I like how no one is paying attention.


ALL EXCHANGES WILL REMOVE TETHER FROM USE BY SEPTEMBER 23.


Reason: USDT (a.k.a. Tether) it is the propriety technology of the United States Federal Reserve Bank.

And after the network was bought and transferred ownership to the FED. They have a deal cut with the SEC to let them issue as much quantity as they want, just because they can print it.


Manipulation... BRRRRRRRRRRR!!!    

que?

[savetherainforest]

I like how no one is paying attention.


ALL EXCHANGES WILL REMOVE TETHER FROM USE BY SEPTEMBER 23.


Reason: USDT (a.k.a. Tether) it is the propriety technology of the United States Federal Reserve Bank.

And after the network was bought and transferred ownership to the FED. They have a deal cut with the SEC to let them issue as much quantity as they want, just because they can print it.


Manipulation... BRRRRRRRRRRR!!!    

que?

Exactly!    



Everyone just got duped.     


*edit: So now the logic stands like this, if BTC & other stuff is limited and USDT is unlimited. Then.. What will happen next??   

[ImThour]

I like how no one is paying attention.


ALL EXCHANGES WILL REMOVE TETHER FROM USE BY SEPTEMBER 23.


Reason: USDT (a.k.a. Tether) it is the propriety technology of the United States Federal Reserve Bank.

And after the network was bought and transferred ownership to the FED. They have a deal cut with the SEC to let them issue as much quantity as they want, just because they can print it.


Manipulation... BRRRRRRRRRRR!!!    

I would have appreciated this big black subheading with a source.

[ChartBuddy]

Explanation

[savetherainforest]

I like how no one is paying attention.


ALL EXCHANGES WILL REMOVE TETHER FROM USE BY SEPTEMBER 23.


Reason: USDT (a.k.a. Tether) it is the propriety technology of the United States Federal Reserve Bank.

And after the network was bought and transferred ownership to the FED. They have a deal cut with the SEC to let them issue as much quantity as they want, just because they can print it.


Manipulation... BRRRRRRRRRRR!!!    

I would have appreciated this big black subheading with a source.

https://www.youtube.com/watch?v=2NzUm7UEEIY



The only entity that can deny public government information is the government.    

[OROBTC]

When we go sub $30k, who sold at the bottom?  

Who's our next Mindrust?

Dunno but there will be one or even a couple.

The first time that bitcoin crossed this price level (~$34k-ish) to the upside was on 01/02/21. That means that anyone that bought any bitcoin for the first time in the last 17 months and held it is likely underwater, all the while inflation jumped another +15% or so.

That sucks big time. Psychologically, 17 months is a long time for weak hands. (Of course that means that they are still winning vs. stonks with relative losses > 15% during the same period)

I just hope that they have the balls of steel to weather this storm. The tide will turn, and then none of them will be underwater.

Yes, emphasis in above quote mine.

Also:

"Don't sweat the volatility"

-- Bobby Lee (from his 2021 book The Promise of Bitcoin)

HODL, HODL, HODL has always worked so far given a low time preference.

[savetherainforest]

Since when have you guys began to be the lovers of the fiat system and especially of the US dollar??

USDT is the US dollar as well.

The end goal is for everything to be pegged in BTCTC !! And NOT IN USDT !! OK!??   

I want to see my tapioca bread priced in 0.00000020 BTCTC, not in USDT !!!!!!!!!!!!!!!!!!!!!!!          

[Hamza2424]

$33k to $34k is a week support level for the BTC if this support worka then the Bounce back can be expected very soon if it breaks this support level then be sure to Hold you faits and The market can make a dump again.

According to this Anlysis



Suorce : https://www.tradingview.com/chart/BTCUSDT/HOKyYdjd-BTCUSDT-near-support-zones-and-rise-is-ahead/

Since when have you guys began to be the lovers of the fiat system and especially of the US dollar??

USDT is the US dollar as well.

The end goal is for everything to be pegged in BTCTC !! And NOT IN USDT !! OK!??   

I want to see my tapioca bread priced in 0.00000020 BTCTC, not in USDT !!!!!!!!!!!!!!!!!!!!!!!          

Quite decent Idea but currently its not possible but future possibilities are much more then that might be an algorithm Stable Coin Directly Pegged and reserve with the BTC.

But there Will be reserve system not burning system.

Last days there was a news about a Stable Coin lunch on BTC lightning network for the World's fastes Beyond all Boundaries payment system which named as a Thread to Payment Processors as VISA Master others as well. Because that will be more cheap and Fast and Non Manipulated also.

[empowering]

I like how no one is paying attention.


ALL EXCHANGES WILL REMOVE TETHER FROM USE BY SEPTEMBER 23.


Reason: USDT (a.k.a. Tether) it is the propriety technology of the United States Federal Reserve Bank.

And after the network was bought and transferred ownership to the FED. They have a deal cut with the SEC to let them issue as much quantity as they want, just because they can print it.


Manipulation... BRRRRRRRRRRR!!!    

que?

Exactly!    


Everyone just got duped.      


*edit: So now the logic stands like this, if BTC & other stuff is limited and USDT is unlimited. Then.. What will happen next??    

.... I am not the biggest fan of Jan van der Velde, and as for Raphael Nicolle and Giancarlo Devasini , they are pretty much ghosts.

Bitfinex is a zombie... ie seems they have been killed multiple times over but never die... which is curious.

But, just curious what makes you say what you say they will delist in September and why you think the FED are the real owners?


Their "commercial paper" declarations need to be audited for sure, seeing as out of the "cash & cash equivalents & deposits /commercial Paper" which apparently accounts for 83% of their holdings, well out of that only 6% is cash held in banks, and the rest is 36% commercial paper and 52% treasury bills.


Whaddya make of this ?  (note that their latest reports are far slightly more detailed than the Friedman and Deltec "letters"


https://tether.to/en/transparency/#reports

https://tether.to/en/transparency/

and this the latest "report" they commissioned, the rest of their "audits" are listed there too =

https://assets.ctfassets.net/vyse88cgwfbl/4hiNJsZ98LlZqCJHKzrLpV/2b6338482ef0093382885f80ba6f1083/Tether_Assurance-12-31-21.pdf

vs the original "reports" ie =

 https://assets.ctfassets.net/vyse88cgwfbl/7ow3ykSHqpJloiIunVvi0B/3e3e4738ee0b7ff1fb492e9d28757604/Final-Tether-Consulting-Report-9-15-17_Redacted.pdf

& Deltec "report" (this one is "hilarious")  

https://assets.ctfassets.net/vyse88cgwfbl/RPHIloRD3eE4J5QYNRnYX/bed2f368b73776c14e067088028f8a5c/Tether-Letter.pdf


Interestingly Tether issuances vs redemptions are apparently around 20:1 atm, with the two largest buyers being Cumberland Global (DRW investments) and Alameda.


Personally, not a fan of the Tether system.... nor Bitfinex, I got royally butt fucked by them years ago.  

But then I am not sure on Bitfinex'd either tbh.

I do not imagine that Tether going down should it happen is going to be pretty at all , least not in the short to medium term.


I hold exactly zero tether, but would be interested in reading any source material you have though...

[empowering]

I like how no one is paying attention.


ALL EXCHANGES WILL REMOVE TETHER FROM USE BY SEPTEMBER 23.


Reason: USDT (a.k.a. Tether) it is the propriety technology of the United States Federal Reserve Bank.

And after the network was bought and transferred ownership to the FED. They have a deal cut with the SEC to let them issue as much quantity as they want, just because they can print it.


Manipulation... BRRRRRRRRRRR!!!    

I would have appreciated this big black subheading with a source.

https://www.youtube.com/watch?v=2NzUm7UEEIY



The only entity that can deny public government information is the government.    

FOIA & FOIL requests of all sorts are often bounced back and passed around/buck passed...

[ChartBuddy]

Explanation

[empowering]

ANALYSIS

Sure, we could well maybe be hitting a bouncy region perhaps here-ish or a little lower, 31-33k ish, but then if we bounce and go and form another lower high... then look out

[shahzadafzal]

When people talking about dip, crash, dead… just watch some old videos appreciate your choices…

This guy was trying to teach us how to buy #bitcoin  when it was at 30 cents
https://twitter.com/documentingbtc/status/1523294669253320710?s=21&t=ZtpFPCECnsSy9UQj7mp2wQ

[empowering]

https://twitter.com/bitcoinmemelib

[BobLawblaw]

Soon...