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

[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.

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[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

[death_wish]

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?

No, I was the one who mentioned it—in a discussion about programming languages; see where the link leads:

“BitcoinBunny”, your arguments are fully analogous to a SHIB bagholder telling me to “have fun staying poor”.  OK.

Oh, was that remark directed at me?  I am unconcerned by the opinion of anyone who opines without having read my posts—and who, by the evidence, may be incapable of it.


Needless to say, no one is obligated to read through all of my posts about my personal financial situation.

But if you wish to opine, it would behoove you first to read what I have said.  Otherwise, you may make such gaffes as advising me not to trade—when I have not even tried any non-arbitrage “buy and sell for profit” trading of volatile assets for months.

[AlcoHoDL]

Tough times for a buyer N   O   T

The moment you are ready to click BUY, price drops by $1k...and keeps dropping...

Please, Bitcoin, keep a little steady so that we can BTFD!

[buwaytress]

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.

Battered, bruised, but holding up. I might have mentioned I had to liquidate a significant portion late 2020 for some domestic emergency, around this exact price we are at right now, and felt that I missed out. So the good news (haha) is I'm kinda back where I started, a little bit less BTC now than I had then, so I guess I got a reboot, and possibly accumulating even more if it gets worse (and it does look like that).

Seems the ATH support being broken is leading to more sell offs... so there are I'm sure guys like me, getting a "second chance". DCA all the way, brother.

[death_wish]

Tough times for a buyer N   O   T

The moment you are ready to click BUY, price drops by $1k...and keeps dropping...

Please, Bitcoin, keep a little steady so that we can BTFD!

Hey, I love it when the market moves in a direction favourable to me by the time I click “buy”.  This is a buyer’s market.

[savetherainforest]

Too early for this?

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

Yeah.

Go. Dig. Your. Own. Grave. Then. Plant. Roses. Over. It. To. Be. Beautiful.