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

[Hhampuz]

Hopefully things turn around for you quickly here, thing is you never really know. I tried some margin trading back in 2016-2017 and got REKT (I even threw ~0.5BTC on 100x bitmex margin LOL) so I know the pain. Have tried staying away ever since as a coin in your own wallet is the best peace of mind you can ever have.

I just got rekt in the wick below 200 WMA.  Compounding the injury, my desperate 0.01 BTC sell order executed just as the liquidator bot closed in to sell more.  I was left with just over 0.03 BTC in total.  I had some margin available again, so I have been trying to grab back some sats... why not, at this point.  hey, I got myself over 0.04 BTC.

Just in case any newbies are still wondering whether BTC margin is a good idea..... or in case anyone else needs to feel extra-smug about the coins y’all have in your wallets...  I think that my personal train wreck here is done, because it barely even matters anymore if I keep getting ground down into dust.  insert curse words here.  I have rainy-day funds that i refused to let be eaten by the margin account after I had thrown in so much else, so I won’t starve...  I have some things I can use to rebuild...  but I am very close to official nocoiner status.

* death_wish crosses his fingers and prays to Divine Bitcoin that the 200 WMA line has the most solid wall of bid support in the history of all markets.

Dear newbies:  This is what margin does to you.

What's the exact 200 WMA price?

Where we are now... What we are now breaking...  $22.3k last I checked.

[1714099725]

1714099725

[OROBTC]

.. looking for a new low again

It seems so….

It's because I bought today (a small amount of BTC).  I'm sorry.  My speculations go the wrong way some 80% of the time (for a few days...).

please decide to sell, soon 

As we tick below $22k as I write, I DO have to consider what you suggest. 

[El duderino_]

I do wonder

Is there still a market where punks and ape and whatever being sold for millions…?

[suchmoon]

I just got rekt in the wick below 200 WMA.  Compounding the injury, my desperate 0.01 BTC sell order executed just as the liquidator bot closed in to sell more.  I was left with just over 0.03 BTC in total.  I had some margin available again, so I have been trying to grab back some sats... why not, at this point.  hey, I got myself over 0.04 BTC.

I think we found the whale responsible for crashing the market.

[Hhampuz]

I do wonder

Is there still a market where punks and ape and whatever being sold for millions…?

I think it's been dead for a minute, only celebs were buying some last I heard and after a few got scammed out of them it went pretty silent.. lol.

[death_wish]

I do wonder

Is there still a market where punks and ape and whatever being sold for millions…?

I wonder if people who were living off of Leveraged Yield Farming income are... um... physically still alive.  LOL.  How do you make Yield Farming an even better idea?  ADD LEVERAGE!

Yes, there are such people.  Many of them are proudly self-described “degens”, so...

[Gachapin]

Peter Brandt is depressing....but has one valid point to consider:

in his opinion an asset that repeatedly declines more than 80% is not an investment, but speculation.
Well, 80% down from 67566.87 (highest closing vs intraday 68789.63) is $13513.
Currently, we are at about 66.7% decline from the highest closing.

So, if you subscribe to PB view, it's showtime for bitcoin to show it's mettle as an investment vehicle.
Note that I don't talk about a "store of value' because i don't think there is one, unfortunately.
I guess clean water, food, air and a powered shelter are 'stores of value', but we can't put them in a "bottle" to use when needed.

BTC is a speculation for most buyers. Probably most avg Joes just wanna get fiat rich by it.

BTC is technically well worth as a real investment, we all know that. But as long as the market decides to treat it as a speculative asset it will deliver.


Bitcoin is a totally new asset that can fulfill many roles.

If the market wants to use it for speculation, because of properties like inelastic supply etc, it will serve as one of the best speculative assets ...just until the majority of the market understands its true implications...

Bitcoin is nothing most traders and rich investors understand within a few days. So it will take time until the market is able to really see it for what it is.

Like monkeys exploring something like a mirror for the first time in their life

[proudhon]

Ok, in all seriousness, bitcoin might make new highs someday...but it won't be in this decade, that's for sure, and when it does finally "recover", a starter home will probably cost like $4-5m. You heard it here first. Math and science. I'm calling it. Experiments over.

[HI-TEC99]

                             ^^^


Don't listen to proudhon. HODL like the spartans.

[Gachapin]

Ok, in all seriousness, bitcoin might make new highs someday...but it won't be in this decade, that's for sure, and when it does finally "recover", a starter home will probably cost like $4-5m. You heard it here first. Math and science. I'm calling it. Experiments over.

So bottom is in??

[romneymoney]

anyone gonna start another $24,777 game?

[Gachapin]

anyone gonna start another $24,777 game?

everyone broke now

[death_wish]

Ok, in all seriousness, bitcoin might make new highs someday...but it won't be in this decade, that's for sure, and when it does finally "recover", a starter home will probably cost like $4-5m. You heard it here first. Math and science. I'm calling it. Experiments over.

Ok, now I’m scared.  And it takes a lot to scare me.

This just in: price will be much lower tomorrow. Scientifically confirmed and guaranteed. That's all.

Very funny, you damn llama alpaca whatever.

[ChartBuddy]

Explanation

[goldkingcoiner]

Anybody mindrusted yet?

I am anti-mindrusting. I am sweating bullets, trying to not prematurely buy the dip. Cmon 20k!

[BitcoinBunny]

I do wonder

Is there still a market where punks and ape and whatever being sold for millions…?

[goldkingcoiner]

I just got rekt in the wick below 200 WMA.  Compounding the injury, my desperate 0.01 BTC sell order executed just as the liquidator bot closed in to sell more.  I was left with just over 0.03 BTC in total.  I had some margin available again, so I have been trying to grab back some sats... why not, at this point.  hey, I got myself over 0.04 BTC.

Just in case any newbies are still wondering whether BTC margin is a good idea..... or in case anyone else needs to feel extra-smug about the coins y’all have in your wallets...  I think that my personal train wreck here is done, because it barely even matters anymore if I keep getting ground down into dust.  insert curse words here.  I have rainy-day funds that i refused to let be eaten by the margin account after I had thrown in so much else, so I won’t starve...  I have some things I can use to rebuild...  but I am very close to official nocoiner status.

* death_wish crosses his fingers and prays to Divine Bitcoin that the 200 WMA line has the most solid wall of bid support in the history of all markets.

Dear newbies:  This is what margin does to you.

What's the exact 200 WMA price?

Where we are now... What we are now breaking...  $22.3k last I checked.

You would not believe how much money many of us here have lost at the beginning of our Bitcoin journeys... Don't see it as a loss but rather as a fee for learning important lessons which will help you become a better coiner!

[BobLawblaw]

Just FOMOED £500

Rick just did a smash buy of $500. I've already stacked on the way down, and have orders outstanding between $22,500 and $22,400 if we go that low.

Got filled @ $22,500 & $22,450 & $22,400.

Bought > 0.1 BTC today.

Life is good.

[JayJuanGee]

Historically, the 200 WMA has only ever been touched a few times by spot price, but never deeply crossed. In other words, spot price shouldn't go below $22,287 (as of today). If spot price deeply crosses that value (i.e., goes below $20k), it will be a first in Bitcoin's 13-year history.

Each of those dots on that chart are weekly averages, so from time to time, the BTC spot price has gone below the 200-week moving average, but does not tend to be sustained below the 200-week moving average for very long.

We can scan on the chart on the linked webpage to get the actual average BTC price numbers for any day, but we cannot really see specifics for the ups and downs of the day.. and in 2015 between January and October the 200-week moving average moved up from $190 at the beginning of January to $245 by the end of October.

In January 2015 we had BTC spot price lows of $155-ish but the average for the day show higher numbers and the 200-week moving average would have been around mid $190s at that time, and by the time we got to August 2015, the 200-week moving average was about $240 - but the spot price tested $200 and even lingered below $240 for a few of those weeks.

I will concede with you that it may well be difficult to sustain BTC prices below the 200-week moving average, but also, I would not concede that there might NOT be some temporary levels of success from the bearwhale twats to be able to get the BTC price to go below the 200-week moving average and perhaps even lower than we might think is reasonable or plausible and to be able to keep it below the 200-week MA for longer than we expect to be within any kind of range of reasonableness or plausibility.. I have hardly any fucking clue, except for not ruling out extremes - and I am surely hoping that these twats will get reckt as fuck with a spring back.. but I am not going to start counting my chickens too soon.. when it surely seems that we are still in the egg territorystage.

[death_wish]

Anybody mindrusted yet?

I am anti-mindrusting. I am sweating bullets, trying to not prematurely buy the dip. Cmon 20k!

Be careful what you wish for.  I have a feeling that if someone can smash the 200 WMA line and drop it to >10% below that, without the assistance of a Covid mass-panic, they wouldn’t want to stop at $20k.  How does $10k sound to you?

I hope not, and I doubt it.  If the market is really trashed, which it is, we can bounce along/just above 200 WMA for awhile.  It has happened before—several times, for months—without any lasting damage.  That line is a self-fulfilling prophecy, due to how many people do not consider it “buying prematurely”—and with each 1% below that, how much bigger are the walls of bids from people who have been waiting for this?