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

[ChartBuddy]

Explanation

[1714106151]

1714106151

[1714106151]

1714106151

[1714106151]

1714106151

[1714106151]

1714106151

[Phil_S]

Dutch Police have arrested a Tornado Cash developer:

Netherlands Arrests Suspected Tornado Cash Developer


A gentle reminder of the importance of privacy and privacy-related best practices:


A Treatise on Bitcoin and Privacy

So much for the people in The Netherlands are free.

If your country extradites to the US, you're never free. Your freedom is at the will of the US government

Number of countries where you can "do a Snowden" is very small.

[El duderino_]

[JimboToronto]

$25k

[ChartBuddy]

Explanation

[Hamza2424]

#Bitcoin and crypto adoption:

Country                Users
————————————
🇺🇸 USA            46 million
🇮🇳 India            27 million
🇵🇰 Pakistan     26 million
🇳🇬 Nigeria        22 million
🇻🇳 Vietnam      20 million
🇨🇳 China          20 million
🇧🇷 Brazil           16 million

Source: https://twitter.com/DocumentingBTC/status/1558442766987939841?t=ADSVFA5B1fE1JLCxp7xKyg&s=19

Alhamdulliah, Pakistan on Top 3rd of Active users involved in the BTC.
Deae WO Pakistani members Happy Independence day.

[DaRude]

https://twitter.com/justinsuntron/status/1558397647165091840


Lol. People blaming decentralization for this. Don't fall for shitcoins like AAVE or shitwallets like Wasabi. You cannot regulate decentralization. All attempts will fail.

How is this even possible...oh i centralized front end. Guess the De in DeFi is for Demented

[WatChe]

hmmm...where are the 'funnies' here?  

it is only to show that Bitcoin is and will always be the  number 1 ... the digital gold 

Everyone on this forum must read this thread to know this fact that bitcoin is the king aka #1.

$25k

News circulating are that it's because of BlackRocks Bitcoin private trust.
https://cointelegraph.com/news/blackrock-bitcoin-fund-launch-sends-btc-price-towards-25k

[aesma]

Nice mini spike to 25K$ so my order could execute !

Bitcoin holders realize they have Bitcoin


Image source

I don't know what's in this bill exactly but I've seen what other governments are doing, it's not about fighting inflation it's about mitigating its effect on some people ("ideally", the poorest). Without certainty about the results since of course it can add to the inflation, and since the reasons for inflation are various and not affected by any bill passed anywhere (like the China COVID policy).

Whether you think doing that is a good idea or not, calling it "inflation reduction" is ridiculous...

[aesma]

https://twitter.com/justinsuntron/status/1558397647165091840

Lol. People blaming decentralization for this. Don't fall for shitcoins like AAVE or shitwallets like Wasabi. You cannot regulate decentralization. All attempts will fail.

Not your keys...

[ChartBuddy]

Explanation

[WatChe]

#Bitcoin and crypto adoption:

Country                Users
————————————
🇺🇸 USA            46 million
🇮🇳 India            27 million
🇵🇰 Pakistan     26 million
🇳🇬 Nigeria        22 million
🇻🇳 Vietnam      20 million
🇨🇳 China          20 million
🇧🇷 Brazil           16 million

Source: https://twitter.com/DocumentingBTC/status/1558442766987939841?t=ADSVFA5B1fE1JLCxp7xKyg&s=19

Alhamdulliah, Pakistan on Top 3rd of Active users involved in the BTC.
Deae WO Pakistani members Happy Independence day.

What a moment to celebrate 75th independence day. We are third in the list of crypto adoption nation.
Bitcoin gives us financial freedom.

[ChartBuddy]

Explanation

[dragonvslinux]

End of the week coming to close. Another strong close above the 200 Week MA can't be ignored as it'd be the third now. Even if we did have 6 weeks close below it.

I posted analysis elsewhere but as a summary, I see one of a few things happening next week:

1. Price holds $24K (previous resistance) and turns it into support, thus confirming bullish ascending triangle break-out with a measured move target of +20% to $29K (UP)
2. Price breaks below local accumulation zone of $23K and support trend-line, confirming a bearish rising wedge break-down back down to ~$21K prices (DOWN)
3. Price holds $23K accumulation zone / 200 WMA and consolidates further within a bearish rising wedge pattern before making a decision on up or down.

That's right, I see the argument for up, down and sideways right now while waiting for confirmations, mainly depending on what happens early next week. Getting back above $25K could certainly see immediate upside moves, breaking below $23K would be pretty bearish in the short-term with price likely to re-test long-term accumulation zone of $20K to $22K, with the 50 Day MA rising and currently priced at $22K.

Still bullish in the mid-term view, with higher highs and higher lows and above short and mid-term MAs - be dumb not to imo as trend is your friend etc - but remaining relatively neutral in the short-term now as price struggles between $24K and $25K level. Weekly RSI is looking increasingly bullish and close to leaving bearish territory, so worth having a bullish bias overall imo as bears continue to loose momentum.

[ChartBuddy]

Explanation

[WatChe]

Bitcoin holders realize they have Bitcoin


Image source

I don't know what's in this bill exactly but I've seen what other governments are doing, it's not about fighting inflation it's about mitigating its effect on some people ("ideally", the poorest). Without certainty about the results since of course it can add to the inflation, and since the reasons for inflation are various and not affected by any bill passed anywhere (like the China COVID policy).

Whether you think doing that is a good idea or not, calling it "inflation reduction" is ridiculous...

Its a 430 billion USD climate, health care and tax bill that aims to bring down inflation. According to Shai Akabas, there are 3 ways this bill will control rising prices:

1. "First, it plans to reduce the federal deficit, which is the difference between how much the U.S. government spends and how much it makes in taxes and revenue. When there's less money floating in the economy, there tends to be less demand and fewer price hikes." Source

2. The bill will help in growth of renewable energy. The idea is to have more energy supply then demand, that will bring down prices of energy over period of time.

3. Prices of drugs will be controlled by allowing Medicare to negotiate their cost with pharmaceutical companies.

Rest one can figure it himself whether this bill can bring prices down or it will be like giving more business to companies.

[ChartBuddy]

Explanation

[Republikcoin.com]

#Bitcoin and crypto adoption:

Country                Users
————————————
🇺🇸 USA            46 million
🇮🇳 India            27 million
🇵🇰 Pakistan     26 million
🇳🇬 Nigeria        22 million
🇻🇳 Vietnam      20 million
🇨🇳 China          20 million
🇧🇷 Brazil           16 million

Source: https://twitter.com/DocumentingBTC/status/1558442766987939841?t=ADSVFA5B1fE1JLCxp7xKyg&s=19

Alhamdulliah, Pakistan on Top 3rd of Active users involved in the BTC.
Deae WO Pakistani members Happy Independence day.

That's amazing and I think Pakistan can also get a big second rank for active users engaged in BTC if it can beat India with a number of users who are also not so many from Pakistan, even though India is still much more populated than Pakistan. But I'm sure that not all Indians today know about using BTC at this point.

[ChartBuddy]

Explanation

[Gachapin]

nice one!
.... in case someone missed this one: