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

[ImThour]

$36k real soon. I love how BTC broke the trendline and retested twice.

[dragonvslinux]

New yearly high: $25,550. Now to see if the bears can do anything about that as they haven't had a lot of luck in recent days! Gut feeling* tells me that this isn't the break-out yet after moving from $20K to $25K within only a few days, as price remains quite overbought on short-term time-frames. But otherwise Daily time-frame isn't even overbought yet while Weekly is only just flirting with being bullish let alone overbought.

Also loving how bullish the Monthly time-frame looks right now, as well as the Weekly above 50 WMA. If price does break out above $25K then won't be surprised to see $30K this week that's for sure.

Now realising that price isn't even that overbought on short-term time-frame like 4hr. Can certainly go higher and remain overbought for numerous days like back in January.

*Generally speaking, it's best to ignore my gut feeling in these scenarios

[El duderino_]

[dragonvslinux]

$36k real soon. I love how BTC broke the trendline and retested twice.

In hindsight, everything about the most recent pull-back was text-book TA. Easy to say in hindsight I know, but I was always eyeing up $19K to $20K as a support zone, as were many others.

Wasn't just turning previous trendline resistance into support either. Price came back to re-test 200 DMA at $19.7K after golden cross last month. Many forgot that this golden cross even happened, but for any patient investor wanting to try and buy into a trend reversal based on moving averages, that was basically it. Then we saw price immediately continue to the upside...

I guess the SVB situation accelerated the process to some degree, but bouncing back from $20K was always looking likely based on numerous indicators suggesting the trend had already reversed.

Not just to wait for some decent volume... closing above $25K today will be uber bullish imo.

[fillippone]

CCMF!

Ibserving 25,572@Stamp!



Next stop: Page Parity.
Destination: Post Parity

[bitcoinPsycho]

Go go go

[bitcoinPsycho]

$26K

[Paashaas]

We'll never ever see sub $20k again.

The train has left the station.

[philipma1957]

26k looks nice to me.

Do we go more more more  up up and away dare I say it ? to the moon and beyond!

[ImThour]

We reached 32,000th page on Wall Observer.

[dragonvslinux]

Time for another weather-based analysis, given the accruacy of the previous one  

(At $22.4K I was considering the cold snap to drop prices until March 10th. The low was on March 10th, this was when the weather started to warm up)

Realty is, winter isn't over yet. Here in Western Europe there is a cold snap coming until March 10th, then it's expected to get a lot warmer with winter officially ending on the 20th.

Spring prices are coming soon, but first, we have to strap in for realities. I think Bitcoin will snap back quickly once the cold temperatures pass. That's my weather based prediction for now.

The bear market will officially end on March 20th. Whether that be breaking through $30K, or re-testing $25K in order to turn it into support.

Until then, a slight pull-back tomorrow followed by upside continuation until the following.

March 19th (last day of bear): small pull-back
March 20th (end of bear): strong continuation
March 21st (first day of bull): consolidation

Will keep an eye on weather and make any updates if needed (forecasts can change).

Don't take me too seriously!

[ChartBuddy]

Explanation

[heslo]

We're back boys!

[dogebearman]

Goo

[macson]

+17% in 24 hours ---- we're headed to $27k guys, buckle up

[dragonvslinux]

Now to watch bears chase price up to $30K. Still many bears that expected $25K to continue to act as resistance, as well as lower lows, which for now looks very much invalidated. They'll now be waiting for a re-test in order to accept defeat and buy back, so imagine the fallout if there is no re-test and price continues onto $30K. They will then have to buy back above $30K instead if that breaks next.

Basically it's not just the market sentiment shifting bullish that can cause another parabolic run, to me it's specifically a lot of bulls only turning bearish after rejection from $25K last year. There is one big youtuber in particular who's spent the past 9 months mocking bulls and saying $25K just isn't going to break. After recommending his audience "get out" around $24K last year and wait for $12K to $14K.... oh my.

There's a lot bears that supported this belief is the crazy part, due to "iNfLaTiOn". The irony being that a lot of them were buyers around $10K, selling at $25K, and now will be buying back at >$25K. These so-called investors should have their entire reputation destroyed for basically recommending people sell near the bottom after a -65% drop, because price could drop -80% (and that's twice as far). The irony being he was wrong about $6K holding as support in 2018, so probably felt he was "right" being bearish in 2022, as well as this year. In reality, he just always get's bear markets completely wrong either way round.

This also will drive the hodler sentiment, now that timing the market has become a lot more difficult (without a blow off top). Most won't want to sell unless price returns to >$50K this year imo.

[eXPHorizon]

+17% in 24 hours ---- we're headed to $27k guys, buckle up

i can tell you from years of observing that .. it is the exact opposite 🤣

+ a Smith Virus breeding ground

[d_eddie]

Closing down the banks,
Joke turns into system risk?
Price heading higher




#haiku

[BitcoinBunny]

[UdtaParinda1]

Now as BTC closed its first candle above 350DMA after along time what boost given by the SVB and USDC to Bitcoin. Now its the time to shine to the $30k in this week as far there are no major resistances except for a few small ones 28.2k to 28.7k and the 29.3k to 29.5k. For as single week Bitcoin has surprised us enough i am not wondering whatever happened as it was obvious but it will happen so fast i wasn't expectating that.