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

[ImThour]

I would say, bottom is in.

- Price touching 200 WMA.
- RSI Below 40.
- Hash Ribbon gave Capitulation signal
- Bitcoin Rainbow Chart says "Basically on Fire Scale!"

Why just 66% down and not 70-80% like previous cycles?
Because of COVID 2020 crash, BTC was not able to reach it's potential ATH.




P.S.: I am all-in.

[1714685184]

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[Wilhelm]

I would say, bottom is in.

- Price touching 200 WMA.
- RSI Below 40.
- Hash Ribbon gave Capitulation signal
- Bitcoin Rainbow Chart says "Basically on Fire Scale!"

Why just 66% down and not 70-80% like previous cycles?
Because of COVID 2020 crash, BTC was not able to reach it's potential ATH.

I agree with this. Should have been $100k if COVID wouldn't have been.
Now let's hope we go 200k-400k range

[somac.]

Capitulating markets keep capitulating until enough people who swore they would never sell, no matter how low it goes, finally declare they have had enough and sell out just to stop the pain. I call this a "porcelain sell-off"

I've seen it many times over the years in many mkts





Source: https://twitter.com/PeterLBrandt/status/1536351886948933635

Peter is super wise and insightful.  Particularly when he is not taking jabs at bitcoin maxis.  I get why he is annoyed by them... they are arrogant little pricks most of them.  And his understanding of markets would do them a lot of good.  But they are usually too busy "ok boomering" him to hear him. lol.

I expect this level of the 2017 peak is going to cause a LOT of capitulation, particularly for the class of 2017.  I am surprised we came this low, and I would also be surprised if we go lower... sort of.  It kind of seems like that is in the cards for sure.  I wish i had some cash.  We MAY have seen the main puking... but it does not look like it. :/

I think at this point everyone can see price puking down below 2017 highs, with the global backdrop and all the shitcoins scams coming undone its obvious right? Maybe that means that it doesn't puke though, maybe we've all sold what we are willing to sell already. One can dream anyway.

Personally, I think we are going lower, as the Fed is not willing to back down yet. They should be though because if they don't Japan and EU central banks are fucked. The more the Fed tightens the worse it is for the rest of the globe. A reserve currency can be a bitch like that.

[somac.]

https://twitter.com/saylor/status/1536695409648836609?cxt=HHwWgoC9waqVuNMqAAAA

[Paashaas]

Capitulating markets keep capitulating until enough people who swore they would never sell, no matter how low it goes, finally declare they have had enough and sell out just to stop the pain. I call this a "porcelain sell-off"

I've seen it many times over the years in many mkts





Source: https://twitter.com/PeterLBrandt/status/1536351886948933635

Peter is super wise and insightful.  Particularly when he is not taking jabs at bitcoin maxis.  I get why he is annoyed by them... they are arrogant little pricks most of them.  And his understanding of markets would do them a lot of good.  But they are usually too busy "ok boomering" him to hear him. lol.

I expect this level of the 2017 peak is going to cause a LOT of capitulation, particularly for the class of 2017.  I am surprised we came this low, and I would also be surprised if we go lower... sort of.  It kind of seems like that is in the cards for sure.  I wish i had some cash.  We MAY have seen the main puking... but it does not look like it. :/

Peter thinks Bitcoin will go to $13,000, that's another $9,000 drop from here.

[BitcoinBunny]

Considering 55% of crypto "investments" are all held in shitcoins and BTC dominance didn't go up or down much, I think we may be at the end of bleeding.

Much of that 55% held in utter tosh right now perhaps will never leave or move much, most of it is probably lost access crap / old wallets. Especially the likes of Litecoin I suspect. Things that hardly moved much over the last 4-5 years beyond the short term get rich quick customers.

[Gachapin]

I would say, bottom is in.

- Price touching 200 WMA.
- RSI Below 40.
- Hash Ribbon gave Capitulation signal
- Bitcoin Rainbow Chart says "Basically on Fire Scale!"

Why just 66% down and not 70-80% like previous cycles?
Because of COVID 2020 crash, BTC was not able to reach it's potential ATH.




P.S.: I am all-in.

Thanks for this cut & dry analysis

[ChartBuddy]

Explanation

[aysg76]

$22,184 as per CMC at this time



We need to keep up the $20k barrier at any cost so make sure you invest with whatever amount you can now is the time WO and bitcoin brothers then we will have some pizza celebration afterwards smashing the bears in the face

[empowering]

I would say, bottom is in.

- Price touching 200 WMA.
- RSI Below 40.
- Hash Ribbon gave Capitulation signal
- Bitcoin Rainbow Chart says "Basically on Fire Scale!"

Why just 66% down and not 70-80% like previous cycles?
Because of COVID 2020 crash, BTC was not able to reach it's potential ATH.




P.S.: I am all-in.

I agree with the technicals, as they are not in doubt they are what they are, , but am not yet fully convinced this is the macro low...... we are for sure approaching at least decent bounce area, volatility on daily is on its way to maxing out..... but as for is this is the actual , final MACRO low of this cycle, I am not yet convinced.

Still lets see how we close the week, and after that should we rally where we end up putting in the next high and the next subsequent low.


........and even then, we could be in a huge distribution pattern and put in another mid term high 35-48K area (yes massive range), and then........ doom.



Cautious.


(another thought I have had is that, it seems to be hanging around here at these levels a little too much for my liking... I mean, how often does the market allow buyers to leisurely buy the absolute macro low, it seems a bit too relaxed....so far at least) 


 

[Khanvila78]

BREAKING: NYC Mayor urges lawmakers to veto hydrocarbon Bitcoin mining moratorium 


Source: https://twitter.com/BitcoinMagazine/status/1536537350205018113

[Torque]

Capitulating markets keep capitulating until enough people who swore they would never sell, no matter how low it goes, finally declare they have had enough and sell out just to stop the pain. I call this a "porcelain sell-off"

I've seen it many times over the years in many mkts





Source: https://twitter.com/PeterLBrandt/status/1536351886948933635

Peter is super wise and insightful.  Particularly when he is not taking jabs at bitcoin maxis.  I get why he is annoyed by them... they are arrogant little pricks most of them.  And his understanding of markets would do them a lot of good.  But they are usually too busy "ok boomering" him to hear him. lol.

I expect this level of the 2017 peak is going to cause a LOT of capitulation, particularly for the class of 2017.  I am surprised we came this low, and I would also be surprised if we go lower... sort of.  It kind of seems like that is in the cards for sure.  I wish i had some cash.  We MAY have seen the main puking... but it does not look like it. :/

Peter thinks Bitcoin will go to $13,000, that's another $9,000 drop from here.

Not saying it won't happen. But last time in 2018/2019 when we were at ~$3000/btc, many well respected "analysts" were saying it was going to dump again to $1000.

Never happened.

Just food for thought.

[empowering]

It is but a game of probabilities....... no certainties exist.

[Torque]

Also.. as much as I wanted this to be the bottom... I sure don't think it is acting like it is.  I want it to be V shaped. It wants to be a dead cat.

Dude, you keep saying that.

Not every bottom is a V-shaped response.

2018 bottom is a perfect example.

[BobLawblaw]

[bitcoinPsycho]

Buy bye by

[suchmoon]

* death_wish strokes Bitcoin’s hair gently, gently, whilst speaking in soothing tones.

Don’t worry, Bitcoin.  We still love you.  We will always love you.  Please don’t be so sad.

I want my bitcoins back.  To have and to hold.  Forever.

Can you just stfu now? Spammed the whole thread with your stupid posts about you getting fucked for using leverages and not going the safe route with just holding BTC when you don't know shit about Trading? I am done with you and your shit.

So irritating.

 No this is good!  It's much better for people to learn from the misfortune of others than to experience it themselves.  If newbies see the pain and anguish we're going through as a result of death_wish's margin trading debacle, it might prevent us from having to live through it again.  We'll all come out of this for the better.

My thoughts exactly! I've been thinking for the last several years what is in the mind of leverage/margin traders. We know that they can't win this game, but they don't. So probably they are quite nervous, easily irritated, harboring suicidal thoughts which exacerbate each bull run, seeing how much they would have got by just hodling instead of trading. And here it is - a perfect example for that. Even his nickname shows the devastating effect of the leverage trading on the human mind. So, let him rant and spam, this is a good lesson to the newbies.

LOL jesus fucking christ, you guys really don't see how full of shit nullius is?

"Margin trader" with a hundred bucks, and repeatedly getting rekt, and schooling others how to trade.

My apologies if you're just being sarcastic, I'm too sober for that.

[cygan]

@El duderino_
this one is for you

[Gachapin]

would love to see what is happening OTC atm

[ChartBuddy]

Explanation