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

[Franctoshi]

$30k support to break pretty soon, I don't wish BTC to go below 200 WMA anytime soon.
There will be a short pump towards $38k before going back to under $30k.

What my exactly expected 2nd target for this dumb to take place is ($28k-$25k), and  ($30k) already played out before we get the final draw down. If the institutional and wyckoff schematic accumulation pattern should play in this cycle, I think most retail traders would think that $28k-$25k is indeed going to be the bottom, and eventually there comes the smart money guys to grab all those liquidity and we get a nice retest of the previous ATH.

so the wyckoff schematic accumulation pattern is going to be a 3 legs down from here in View,
1. One already happened the 30k) we just dumb down to
2. Second Would be ($28k-$25k) before we finally get an
3. Unbelievable Smart money concept crush down to ($20k-$19.45k).
These are very critical level to watch in my View.

My Price prediction back then for Bitcoin has perfectly played out, most people thought it was not going to happen.
 just saw this morning the price has officially hit 19k.level
 unbelievable right?

[savetherainforest]

I've just bought 0.27BTC.  Thanks weak hands and thanks Revolut for working 24/7

Not your keys, not your coins.    


*edit(): You should be holding until you find stable prices for things to go your way. Or find an ATM with a 10% free (or lower).   

[DaRude]

Well, that's one way to decouple. Someone is liquidating big time

[Gachapin]

the fuck 

ETH 999$ ... AHAHAHA !!

it's still higher against BTC than 5 days ago... someone clearly doesn't like BTC

Your comment will age well my friend ! When ETH GETS TO $500!!

As you might have read out of my posts, I hate mETH and their shitcoin circus..
But BTC has far more enemies...

[somac.]

That red dildo on a weekly is ENORMOUS!    Please, can we have a dead cat bounce at least?  

There just isn't any demand. This bleeding is probably going to keep going, liquidations still to come many think.

That is an even weirder looking chart movement than I recall from the initial crash May 5... or the very rapid crash June 13.  It also reminds me of the incremental $500–$1000 down movements between about May 5–10 or so (IIRC), as I have mentioned to you—except that now, $1000 is 5%... huge.

It looks to me like a high-capital sophisticated player has developed a systematic way to punch downward through support, and is applying it to break Bitcoin’s back.  In early May, I questioned myself.  A few days ago, I hesitated.  Now, I am settling on “unproved, but highly probable”.


RIP 200 WMA.  Bye-bye Schelling point for a Bitcoin Bottom.

That is what worries me, NOT the current price in itself.  I am thinking that this is to equalize Bitcoin’s status with POS altcoins.  Altcoins have no bottom.  Buy alts, even relatively good ones, and you can just watch them drop as you think to yourself, “Oh, dear.  This thing has no bottom.  Nothing like Bitcoin’s 200 WMA line.”

That is what concerns me for political reasons and Bitcoin idealism, not mere market speculation.  They are trying to break the Honey Badger:  For it is a challenge, a threat to financial corruption.  This was my realistic worry, thinly veiled as dystopian fiction to avoid FUDding Bitcoin or coming off as a bear.

I don't doubt your theory.

[somac.]

Well, that's one way to decouple. Someone is liquidating big time

Why wait for the weekend though, they should of done it yesterday.

[ImThour]

^


JJG!         .. You probably wrote that message for 1 hour and 30 minutes! And you didn't see the price go down!

LOL

[death_wish]

Extension of earlier post (now I see somac replied also):

RIP 200 WMA.  Bye-bye Schelling point for a Bitcoin Bottom.

That is what worries me, NOT the current price in itself.  I am thinking that this is to equalize Bitcoin’s status with POS altcoins.  Altcoins have no bottom.  Buy alts, even relatively good ones, and you can just watch them drop as you think to yourself, “Oh, dear.  This thing has no bottom.  Nothing like Bitcoin’s 200 WMA line.”

Of course, the 200 WMA still exists.  I refer to its significance.  Do you make “reserve asset/store of value” decisions based on 100 WMA, which is currently something like $36k last I checked?

Earlier, I began writing some predictions and scenarios.  Wish I had finished it earlier.  I may have mentioned pieces somewhere.

IMO, significantly >10% below 200 WMA for too long = breaking the Honey Badger, step 1.  We are now much lower than that...

Reluctant to say additional steps I have in mind... but I had better damn well start to prepare for them.  I say that as someone who would absolutely hold through any crash—no matter how low—if I did not have that damn debt...

These are not new thoughts.  For years, I have expected a large-scale economic attack on Bitcoin.

For years, I was proud to hold BTC only in my own wallet.

For months, I have been pathetically wailing to myself:  Why, why, why did I play with margin!?

For the past few weeks, I have been adding:  And why did it have to be now!?  I immediately apperceived this as an economic attack on May 5, when the BTC chart started to look weird as hell - May 5, right after the big Fed meeting - May 5, when Terra still looked healthy.  From May 5 until Terra started imploding, the BTC chart looked... unnatural to me.  After the initial spectacular crash, it spent days moving down in neat increments - cleanly and inexorably as if an autistic bear with OCD had total, absolute dictatorial control of the BTC price.

[JimboToronto]

Meanwhile, 1BTC still = 1BTC.

My coins are still safe. Paper wallets FTW.

Sometimes I think he's trolling us... I just can't believe someone is just so stupid or unlucky or both...  

Was it Bawb who mentioned Dunning-Kruger?

[ChartBuddy]

Explanation

[Gachapin]

the frequent lack of significant bounces on the downsides this cycle is quite significant...  It seems "someone" is really fucking up the market

... and it seems "they" are in a hurry

[DaRude]

Well, that's one way to decouple. Someone is liquidating big time

Why wait for the weekend though, they should of done it yesterday.

There were huge ask walls hovering above $20k trying to extract the max value, looks like volume at $20k dried up so they decided to push lower, now hovering above $19k looking for buyers. But you are right, timing feels nefarious, Fri night into Sat in US, like long squeezes back in the day, so no one could get fiat into exchanges till Monday.

[Gachapin]

Well, that's one way to decouple. Someone is liquidating big time

Why wait for the weekend though, they should of done it yesterday.

There were huge ask walls hovering above $20k trying to extract the max value, looks like volume at $20k dried up so they decided to push lower, now hovering above $19k looking for buyers. But you are right, timing feels nefarious, Fri night into Sat in US, like long squeezes back in the day, so no one could get fiat into exchanges till Monday.

I guess there are still these various lending companies they wanna liquidate...
 

[heslo]

Well, that's one way to decouple. Someone is liquidating big time

Why wait for the weekend though, they should of done it yesterday.

There were huge ask walls hovering above $20k trying to extract the max value, looks like volume at $20k dried up so they decided to push lower, now hovering above $19k looking for buyers. But you are right, timing feels nefarious, Fri night into Sat in US, like long squeezes back in the day, so no one could get fiat into exchanges till Monday.

I guess there are still these various lending companies they wanna liquidate...
 

I think this is the biggest problem. Degens have borrowed on top of borrowing and it's all coming undone now. Not sure how deep we go but just broke into the 18's so still some pain yet it seems

[somac.]

Well, that's one way to decouple. Someone is liquidating big time

Why wait for the weekend though, they should of done it yesterday.

There were huge ask walls hovering above $20k trying to extract the max value, looks like volume at $20k dried up so they decided to push lower, now hovering above $19k looking for buyers. But you are right, timing feels nefarious, Fri night into Sat in US, like long squeezes back in the day, so no one could get fiat into exchanges till Monday.

I guess there are still these various lending companies they wanna liquidate...
 

I think this is the biggest problem. Degens have borrowed on top of borrowing and it's all coming undone now. Not sure how deep we go but just broke into the 18's so still some pain yet it seems

Very easily see us getting to 15k this weekend

[Gachapin]

Well, that's one way to decouple. Someone is liquidating big time

Why wait for the weekend though, they should of done it yesterday.

There were huge ask walls hovering above $20k trying to extract the max value, looks like volume at $20k dried up so they decided to push lower, now hovering above $19k looking for buyers. But you are right, timing feels nefarious, Fri night into Sat in US, like long squeezes back in the day, so no one could get fiat into exchanges till Monday.

I guess there are still these various lending companies they wanna liquidate...
 

I think this is the biggest problem. Degens have borrowed on top of borrowing and it's all coming undone now. Not sure how deep we go but just broke into the 18's so still some pain yet it seems

if these liquidations happen, I think we might well go into 11k

[savetherainforest]

OHOHOHOHO !!!

AHAHAHAHA !!!

$18K !!! IT IS HAPPENING BOIS!!! IT IS HAPPENING!








*edit(): For all my "psychopats" out there that are cheering!

[LFC_Bitcoin]

How’s everybody holding up?

Just remember 1BTC = 1BTC. Only an idiot panic sells now, bear markets are opportunities to sow seeds that will grow into life changing profit trees. Now is the time to buy & do nothing. Buy as much as you can afford all the way down. This is what we do, this is how we become rich.

I don’t want to see any bitches panic selling.

[luckygenough56]

tulip seeds u mean

[somac.]

Too early for this?

https://www.youtube.com/watch?v=VScSEXRwUqQ