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Question: How far will this leg take us?
$110K - 9 (8.3%)
$120K - 19 (17.6%)
$130K - 17 (15.7%)
$140K - 9 (8.3%)
$150K - 19 (17.6%)
$160K - 2 (1.9%)
$170K+ - 33 (30.6%)
Total Voters: 108

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26964870 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 1 users with 9 merit deleted.)
ChartBuddy
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December 21, 2022, 07:01:17 PM


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December 21, 2022, 08:01:17 PM


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Cryptotourist
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December 21, 2022, 08:07:38 PM

Regarding the recession which analysts predicted is already upon us, but still bitcoin is showing consistency.

I think during recession people will be attracted to Bitcoin more compared to traditional S&P 500.

Bitcoin will prove itself a recession proof investment/asset Smiley

Bitcoin is already a hedge against recession, inflation, government oppression, you name it.
Just take a look at the BTC/RUB pair for 2022. It formed a third top/ATH for Russian Bitcoin holders, whilst at the same time Russian stocks plummeted.



Just got a [newsletter] email from Tradingview:

Quote
BITCOIN - Forming Reversal Pattern - Ending Diagonal
Bitcoin is forming a reversal pattern known as Ending Diagonal. Ending diagonals form in Wave 5 or in Wave C. This is one of the more reliable reversal pattern with easy confirmation. It is important to note that the 5th wave of the ending diagonal can sometimes fall short or even extend therefore it's important to wait for confirmation. Confirmation for this reversal pattern will be the break of the diagonal. Further confirmation will be a break above the completion of the 4th wave. - WickatorFX
[emphasis mine]

Holly Molly.
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what is this "brake pedal" you speak of?


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December 21, 2022, 08:53:03 PM
Merited by lightfoot (2), shahzadafzal (1)

breaking: proudhon gets busted by the cops

https://www.youtube.com/watch?v=HB_CYgi_wdc
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December 21, 2022, 09:01:24 PM


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December 21, 2022, 09:06:44 PM
Merited by vapourminer (1)

Quote
In reality, Binance.US appears to be little more than a facade to obfuscate the fact that an unregulated offshore crypto business currently under investigation for money laundering and sanctions violations is doing business in the United States despite being banned from the country.

https://dirtybubblemedia.substack.com/p/is-binanceus-a-fake-exchange
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December 21, 2022, 09:14:22 PM

Alright.

Cryptotourist dies with this post - because of reasons.

It’s been brewing in my head since earlier this year, but only now getting round to it.
I will lock this account with a random password that I won’t be able to recreate.
Of course the email reset option will remain for now, but if this account ever posts again in the future, I urge anyone with two brain cells to ask for confirmation with the fingerprint on the profile AND the stacked Bitcoin address.
Moderators can also ban it for all I care. [kindly consider this post a request]

It’s been a real pleasure posting amongst you guys n girls.
Peace out.

Sunset
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December 21, 2022, 09:35:03 PM

Twitter now displays the #Bitcoin BTC chart directly in app



https://twitter.com/BitcoinMagazine/status/1605672662449152027?t=mEKpoO6dxofXTtUp4nXGCw&s=19
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December 21, 2022, 09:54:26 PM

Lol @ the criminal US government trying to pass a $1.7 trillion bill.  More than 5 times the entire BTC market cap.   Cheesy Cheesy Cheesy
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December 21, 2022, 10:01:17 PM


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December 21, 2022, 10:04:55 PM

BTCitcoin $16.9k<$21k in 31 Dec 2022

Bitcoin 20k plus Christmas Day December 31 Bitcoin price on this occasion will get

If we reach over 20 k this year it will be a christmas 🎄 miracle
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December 21, 2022, 10:17:45 PM
Merited by JayJuanGee (1)

Alright.

Cryptotourist dies with this post - because of reasons.

It’s been brewing in my head since earlier this year, but only now getting round to it.
I will lock this account with a random password that I won’t be able to recreate.
Of course the email reset option will remain for now, but if this account ever posts again in the future, I urge anyone with two brain cells to ask for confirmation with the fingerprint on the profile AND the stacked Bitcoin address.
Moderators can also ban it for all I care. [kindly consider this post a request]

It’s been a real pleasure posting amongst you guys n girls.
Peace out.

Sunset

Finally, thanks God!  Cool
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December 21, 2022, 10:42:47 PM
Merited by JayJuanGee (1)

Alright.

Cryptotourist dies with this post - because of reasons.

It’s been brewing in my head since earlier this year, but only now getting round to it.
I will lock this account with a random password that I won’t be able to recreate.
Of course the email reset option will remain for now, but if this account ever posts again in the future, I urge anyone with two brain cells to ask for confirmation with the fingerprint on the profile AND the stacked Bitcoin address.
Moderators can also ban it for all I care. [kindly consider this post a request]

It’s been a real pleasure posting amongst you guys n girls.
Peace out.

Sunset

 Wait!  What do you mean stacked address?!  How big of a stack?!  What do we ask about it??  AWww... damn!  It's too late; he's gone.  We may never know.
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December 21, 2022, 11:01:16 PM


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December 21, 2022, 11:12:36 PM
Merited by fillippone (2)

This year may be a bit of a rough year for those who are still holding cryptocurrencies and hoping for a price increase to occur. Because in fact what has happened in the last 12 months or to be precise this year for cryptocurrencies is a decline in prices in the market. It's really unfortunate for crypto lovers, but it's not to be regretted because everyone needs to increase their level of patience in dealing with situations like now.



The year 2022 is coming to an end and over the past 12 months, the crypto economy has lost around $1.486 trillion in value against the US dollar. As of December 20, 2021, bitcoin was trading for $46,406 and has lost more than 63% of value this year. Roughly 365 days ago on December 20, 2021, the crypto economy was worth a lot more than it is today. 12 months of statistics show that $1.486 trillion has been removed from the crypto economy since that day, as it fell from $2.334 trillion to the December 20, 2022 value of $848 billion.
Source: https://news.bitcoin.com/2022s-market-review-crypto-economy-loses-1-4t-top-10-token-knockouts-terras-collapse/
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Self-Custody is a right. Say no to "non-custodial"


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December 21, 2022, 11:54:38 PM

....we are human, so we’re bound to make mistakes, regardless of our intentions.

Exactly.  Some "we-wee"s make more mistakes than other "we-wee"s.

Yes... another way of suggesting that one of us suffers from delusions of grandeur.

Let’s put that to the test, shall we?

"Let's" not and say that we did.

Hashrate follows price.  Not the other way around.
I expected nothing less of your handler.
Your sponsor gawds [AKA Bitcoin whales], cannot have the average Joe thinking otherwise.

Uie-pooie can think whatevers yous would likie to thinkie, even if it is retarded.

No skin off my back.

Sorry that I have to be the one to inform you of such news.
No worries, it’s not news, it’s utter bullshit.

Ok.  Do what you like then.  Think what you like.  Last time I checked, its a free country...

wait...


Well, if you are looking at the matter from the wrong direction, then it is going to seem confusing...
I’ll look in any direction I damn well like, okay?
You do you, and keep staring at the cave.

That's right.. you are free to choose your directions..

that's right.


that's riiiiiiiiiiiiggggggggght.

and yeah, even though hashrate follows price, the hashrate can get ahead of the matter, and there are other games going on with hashrate too.. so in the end hashrate is only one of the factors, anyhow.
Repeating yourself does not work on me, you should know that by now.

Ok.  We've exhausted the topic.  I was merely responding to uie-pooie..

Gosh..


bite my head off.

BTC price is affected by all kinds of matters, and the miners are playing their own little games.. and for sure, a lot of miners had a very good year on 2021, so they are kind of paying for that now, in terms of some of them overextended themselves and ended up gambling on the BTC price not going down as far as it did.. but that does not stop other miners (more efficient ones) from forcing out the less efficient ones.. including that some of the equipment that they bought went online during  a downward move in BTC price.
What a crack of diverting bullshit.
So what you’re essentially saying, is that the mining “ban” on China in the summer of 2021, did not affect the price.
Okay. Hahahahaha.

I did not say that, and I am not saying that.  The China mining ban is 2021 is an interesting point though in regards to a lot of bitcoin-related matters - but such "ban" did seems to temporarily affect the hashrate in a negative way with a near halvening of the hashrate that largely sprung back within about 4-6 months (and largely sprung back way more quickly than a lot of folks had expected).. .it also seemed to contribute towards already existing miners to have become extremely profitable and inspired a lot of new mining entrance - and perhaps overly leveraging.. and we see some of the fall out from that overleveraging and perhaps even overbuilding today.. ...and it seemed to inspire greater geographical diversity..  .. so yeah of course, BTC price was not unaffected by some of those matters.. but it would likely lead many folks to wrongedly assessments to attempt to hitch whatever various relationships of BTC price to hashrate during that period as if BTC prices were following hashrate.. but hey, believe whatevers you would like.. those are your choices.

There could be some relation in terms of purging out as many of the inefficient miners as possible.. but there are other things going on, so you are likely going to end up with wrong conclusions (just like Philipma) when you get too obsessed with putting too much weight into the wrong factors - such as ideas of hashrate affecting price.
If the internet were to go down tomorrow, resulting in miners not being able to mine, you’re saying that it would NOT affect the price.
Muahahahahaha, whatever.

Yes.. BTC price would be affected by the internet going down.

You are like the plato allegory of the cave dwellers in the cave watching shadows on the wall and striving to assigning significance to mumbo jumbo.
You - just don’t - go Greek on me, you’re not - in the slightest - qualified.

Aren't you Mr. Wonderful and such a genius too?

Go figure.

For a person that has been right on the scamdemic, since day one, don’t you think it’s an unfair quote?

Who cares whether you were right or not about the "scamdemic?"  For argument sake, let's assume that you were right about the "scamedemic from day one", as you put it.   You are trying to argue that if you happen to be right about one topic, then all of a sudden you are right (or an expert) on all topics.  That makes a lot of sense.   Roll Eyes Roll Eyes

I read somewhere that ChatGPT has an IQ of around 80.
Of course I don’t abide with that opinion, and think that my dog is orders of magnitude smarter than you.

Is your dog friendly?  Or mean like you?

 Cheesy Cheesy Cheesy Cheesy

Yes... you can buy the dip instead of DCA.
Gee, I’m glad we have your permission. Tongue

That was not a statement giving permission...   I retract all semblance of permission from that earlier statement, if any "permission" had previously existed therein.

Have you been following the 'vices of Cryptotourist?
It’s my obligation to tell you that you’re starting to see ghosts.
Understandable, but do snap out of it for the sake of others.

For the sake of which others?  Are you now speaking on behalf of readers of the WO?

Did Cryptotourist get another one of you?
We are all Cryptotourist.
LOL

- except "Cryptotourist."

“The greatest knowledge, is knowing how to remove ignorance”
Antisthenes


Get out of the cave people.

Now you are talking.  Wink
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December 22, 2022, 12:01:20 AM


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December 22, 2022, 12:26:58 AM
Merited by xhomerx10 (1)

Bitcoin update:
There is a high chance price moves back up to the 17500-17700 area then drop hard to 10k.
This move will be quick and could manipulate many traders and in the process price will print a double top pattern that could look like the one below.
https://ibb.co/89ghvr6
Source: https://twitter.com/profit8lue/status/1604606384913252352?t=wY5_WG9wq4yxLjJJrHwSXA&s=19

Would you like to bet with Gapachin about that?

I can't get over the fact that the last couple of months have been extremely stable for Bitcoin while traditional assets have been all over the place.  It seems like people would rather be holding BTC than the S&P 500 at the moment.  Even Elon Musk is saying on Twitter that smart people he knows are shorting the S&P 500 while he continues to hold his BTC.  If we do avert a recession and the Fed is successful with their 'soft landing' I think we will see the mother of all Bitcoin rallies.  I'm starting to see the perfect storm on the other side of the valley.
This means we are at the bottom now? Sorry JJG we are not going below 16k reevaluate your DCA...  

You must not understand DCA.

DCA in respect to BTC does not give any shits about short term prices - except perhaps retaining a presumption that in the long term 4-10 years or more (or whatever is your holding timeline) bitcoin is likely to have prices that are higher than they are today, so in that sense that it is likely to be a good investment and profitable in the long term.

Buying on the dip is another dynamic that can be used to supplement DCA.. but it is not DCA...  

Strict DCA does not concern itself with short-term price moves and also includes a kind of presumption that normies are not able to figure out short-term price moves, yet so long as the overall price trajectory of the asset (in this case bitcoin) is headed UPpity, then it is always advantageous to continue to buy at any price.. until perhaps reaching accumulation goals...  whether that is 1% to 25% of your investment portfolio or whatever other accumulation goals that you create for yourself based on your own individual financial and psychological circumstances.

Regarding the recession which analysts predicted is already upon us, but still bitcoin is showing consistency.

I think during recession people will be attracted to Bitcoin more compared to traditional S&P 500.

Bitcoin will prove itself a recession proof investment/asset Smiley

That part all seems to be true.  Bitcoin has historically outperformed all other asset classes, including but not limited to stocks - and there are no real signs that bitcoin's investment thesis is getting any weaker with the passage of time - and like you suggest, bitcoin's investment thesis is likely becoming stronger rather than weaker with the passage of time.

What else is needed in order to be convinced that it is good to figure out some kind of a personal allocation into bitcoin and to take measures to attempt to achieve such allocation goals?  And, yes with the passage of time, it is likely that the trend of more and more people finding out is going to continue and bitcoin's various network effects are going to continue to grow.. even if  there might be short term uncertainties and blips along the way.

Just got a [newsletter] email from Tradingview:
Quote
BITCOIN - Forming Reversal Pattern - Ending Diagonal
Bitcoin is forming a reversal pattern known as Ending Diagonal. Ending diagonals form in Wave 5 or in Wave C. This is one of the more reliable reversal pattern with easy confirmation. It is important to note that the 5th wave of the ending diagonal can sometimes fall short or even extend therefore it's important to wait for confirmation. Confirmation for this reversal pattern will be the break of the diagonal. Further confirmation will be a break above the completion of the 4th wave. - WickatorFX
[emphasis mine]
Holly Molly.

Well.  If you got that information in a newsletter, then it must be true.  No?

Alright.
Cryptotourist dies with this post - because of reasons.

It’s been brewing in my head since earlier this year, but only now getting round to it.
I will lock this account with a random password that I won’t be able to recreate.
Of course the email reset option will remain for now, but if this account ever posts again in the future, I urge anyone with two brain cells to ask for confirmation with the fingerprint on the profile AND the stacked Bitcoin address.
Moderators can also ban it for all I care. [kindly consider this post a request]

It’s been a real pleasure posting amongst you guys n girls.
Peace out.
Sunset

Well.  I guess, you won't be able to respond to my earlier responses... Kids these days.  In with a bang, out with a whimper.. They hardly have any staying power. .. must be all that soy that they are consuming.   Roll Eyes Roll Eyes Roll Eyes Roll Eyes

 Cheesy Cheesy Cheesy Cheesy
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December 22, 2022, 12:59:24 AM
Merited by shahzadafzal (1)

DCA is a lazy method.

From all prior halvings and ATH here is a potential trading strategy:

1. ATH occurs at 1year-1.5 year after halving (in 2021 the double top was almost identical at ~1 year and 1.5 year).
2. Bitcoin bottoms occur after at least 80% decline from the ATH (happened 3 times, with just a slight decrease in % each time: 94,87, 84% decline).
The current cycle low was at about 77.5%.

Therefore, a "simple" trading strategy: sell at around 1-1.5 years after the halving (when prior exponent would start stalling). How to choose 1 year vs 1.5 year: sell when 30 day increase is at or more than 100% and we are around 1 year or 1.5 year interval post halving, then either buy a bunch at -75% or split into thirds and buy 1/3 at -70%, 1/3 at -75%, 1/3 at -80%. If the third point would not happen-buy something nice instead, like a car, vacation or a house (depending on your cap gains from the top). Don't chase.
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