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

[OgNasty]

It feels to me like we're back in an accumulation phase with this sideways movement.  I'd be extremely bullish but there are a few factors to consider. 

1)  We are at the point in the cycle where another drop is to be expected.

2)  Mtgox coins are still hanging over the market's head.

3) Leveraged long positions on bitfinex are at an all time high meaning a lot of selling needs to take place to cover those positions.

Those are 3 factors that shouldn't be ignored by anyone looking to invest.  It is still quite likely that there's another big drop in store, even if the market is feeling particularly bullish.

#3 is the worst one...  I think we might be just about to see those things closed out one way or the other...

I think #2 is the worst one.  There are a whole lot of coins that will be dumped on the market.  That would likely trigger #3 and only accelerate the downturn.  Without an ETF to soak up some of that liquidity, it might be a bad time for the BTC price.  With so much leveraged action on the long side, it will be difficult to see another big leg up without first seeing a capitulation drop.

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[ChartBuddy]

Explanation

[wagmi]

Any of you guys know who Andrew Henderson is? nomad capitalist ?

I only know Jordan Henderson, he's football player from LFC.
He's playing for LFC for a very long time already and is a very loyal player.
https://en.wikipedia.org/wiki/Jordan_Henderson

Go Kloppo!  

Tomorrow the Wright v McCormack trial starts, and it's important that people (especially journalists) have an understanding of the background of this case, because sometimes fact is stranger than fiction.

Peter McCormack is a real bro. He knows how to get rid of Faketoshi.  

[JimboToronto]

Average block time comparison between blockchains.


Source: COIN98

What exactly does that have to do with Bitcoin?

[wagmi]

Average block time comparison between blockchains.


Source: COIN98

What exactly does that have to do with Bitcoin?

Bitcoin isn't even mentioned.  
It's 100% Shitcoin propaganda.

[empowering]

RIP

"and now it's all over"

[philipma1957]

Did you guys notice that USDT has lost 10 billion on Market Cap Since the LUNA Incident (11-05-2022)?

What Next?

who cares? this is the bitcoin WO thread.

Yeah but if it fails BTC will drop 3-5k.

I altered all my USDC and USDT to cash a month ago.  Rather have 20-30k in fiat and wait for the next move to make than have 20-30k in stable coins.

I have received some very low gear price offers. So I know there is a lot of scared money as I type this.

[wagmi]

Average block time comparison between blockchains.


Source: COIN98

What exactly does that have to do with Bitcoin?

And Coin98 are selfish Solana shills:

Coin98 Ventures — the investment arm of Coin98 Finance, a blockchain-focused software company in Vietnam — announced an ecosystem fund of up to $5 million in partnership with the Solana Foundation. The new fund was established in December 2020 to nurture the Solana developer ecosystem in Southeast Asia, with a particular focus on Vietnam. The fund will be deployed over the next three years, concluding in January 2024.

Apart from financing, projects are provided with Coin98 ecosystem’s resources accumulated over the years, industry connections, strategic advisory, and other extensive support to build meaningful products.

https://solana.com/ecosystem/coin98fund

Shills for a repeatedly failed Shitcoin.
Bags must be heavy, man. 

[philipma1957]

It feels to me like we're back in an accumulation phase with this sideways movement.  I'd be extremely bullish but there are a few factors to consider. 

1)  We are at the point in the cycle where another drop is to be expected.

2)  Mtgox coins are still hanging over the market's head.

3) Leveraged long positions on bitfinex are at an all time high meaning a lot of selling needs to take place to cover those positions.

Those are 3 factors that shouldn't be ignored by anyone looking to invest.  It is still quite likely that there's another big drop in store, even if the market is feeling particularly bullish.

#3 is the worst one...  I think we might be just about to see those things closed out one way or the other...

I think #2 is the worst one.  There are a whole lot of coins that will be dumped on the market.  That would likely trigger #3 and only accelerate the downturn.  Without an ETF to soak up some of that liquidity, it might be a bad time for the BTC price.  With so much leveraged action on the long side, it will be difficult to see another big leg up without first seeing a capitulation drop.

I think this is a very good reason to have 20-30k or more in cash ready for a drop under 20k.

I laddered 2k at 21,20,19,18,17

and 3.3k at 10,9,8

[AnotherAlt]

Did you guys notice that USDT has lost 10 billion on Market Cap Since the LUNA Incident (11-05-2022)?

What Next?

who cares? this is the bitcoin WO thread.

Yeah, but if it fails, BTC will drop 3-5k.

I altered all my USDC and USDT to cash a month ago. Rather have 20-30k in fiat and wait for the next move to make than have 20-30k in stable coins.

I have received some very low gear price offers. So I know there is a lot of scary money as I type this.

I won't say that BTC will drop 3-5K. But, surely it will affect all over the market if USDT Crash. USDT market Dominance Increased from 4% to 6% in the last three months. If a Single shitcoin like Luna Can change the market drastically, A Most Used stable coin can wipe out a lot from the market. I hope it won't happen. But, It's scary when we see Stable coins de-peggs often. USDT was de-pegged a few weeks ago during the chain swap.

[ChartBuddy]

Explanation

[empowering]

https://youtu.be/MedC8kTa9XY

[AnotherAlt]

https://youtu.be/MedC8kTa9XY

Shirnk it? Nah?

[empowering]

Shirnk it? Nah?

NAH


RIP RAY LIOTTA , thanks for the movies.

[AnotherAlt]

Shirnk it? Nah?

NAH


RIP RAY LIOTTA , thanks for the movies.

My Tommy Vercetti in the video game Grand Theft Auto: Vice City.

RIP  
I didn't notice at first. After you said RIP, I did a quick google search. Damn it.

[BitcoinBunny]

67 is no age.

[empowering]

67 is no age.

I know right.... that is what I thought too.  Very young.

Gunna re-watch Goodfellas and sink a few this weekend.

[philipma1957]

Yeah I am 65 so 67 is too close for comfort.

[AnotherAlt]

67 is no age.

We have maintained a serial of born.
But, We cannot maintain the serial of death.

My father died at 45/Y.

But, My Uncle is 65/Y Young and Alive.

[El duderino_]

Damn RIP

Ray Liotta

One of the better actors and best memes