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

[dragonvslinux]

the largest weekly green candle after exactly 12 months - back then also listed in march'22 at 5579 USD

To me, these are completely different situations, time-wise.
First was in the first half of a bear narket and everybody knows that you sell rips in a bear market (if you are a trader).
Now, we seem to have been at the putative bottom at $15.6 K, which is kind of confirmed by the time duration.
Can we re-visit lows a la 2020?
Maybe, but i like to think about the current rip as a beginning or rather continuation of a new bull.

Also, never trust analysis that's 100% wrong*  

It's the biggest candle since second week of January at +22%  

Prior to that it was February 2021, two years ago at +25%.

March 2022 best green candle was +13%.

#falseadvertising

*Correction

[1714578805]

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[ChartBuddy]

Explanation

[jojo69]

[Biodom]

the largest weekly green candle after exactly 12 months - back then also listed in march'22 at 5579 USD

To me, these are completely different situations, time-wise.
First was in the first half of a bear narket and everybody knows that you sell rips in a bear market (if you are a trader).
Now, we seem to have been at the putative bottom at $15.6 K, which is kind of confirmed by the time duration.
Can we re-visit lows a la 2020?
Maybe, but i like to think about the current rip as a beginning or rather continuation of a new bull.

Also, never trust analysis that's 100% wrong  

It's the biggest candle since second week of January at +22%  

Prior to that it was February 2021, two years ago at +25%.

March 2022 best green candle was +13%.

#falseadvertising

he measured it in $$, not %, but i am with you

gogogo, bitcoin AND it's little fren, a supposed "master" of the Ordinals.

[dragonvslinux]

the largest weekly green candle after exactly 12 months - back then also listed in march'22 at 5579 USD

To me, these are completely different situations, time-wise.
First was in the first half of a bear narket and everybody knows that you sell rips in a bear market (if you are a trader).
Now, we seem to have been at the putative bottom at $15.6 K, which is kind of confirmed by the time duration.
Can we re-visit lows a la 2020?
Maybe, but i like to think about the current rip as a beginning or rather continuation of a new bull.

Also, never trust analysis that's 100% wrong  

It's the biggest candle since second week of January at +22%  

Prior to that it was February 2021, two years ago at +25%.

March 2022 best green candle was +13%.

#falseadvertising

he measured it in $$, not %, but i am with you

gogogo, bitcoin AND it's little fren, a supposed "master" of the Ordinals.

Oh fair enough then, kinda. Had miss-read the chart. To me that seems like cheating though. A ~20% move this year is basically same as ~10% a year ago?

Had this argument with stompix previously about a -93% move 10 years ago being same as a -2% move at current prices.

I don't buy it. Sorry.

[BitcoinBunny]

It just SO happened to be, that particular market was near a massive deadly virus lab funded by Americans.

Only coincidence! Stop wearing tin foil hats, you horrible conspiracy theorist!
Now take this cheap credit, shove it up your bum and give all your money to the taxman, enjoy your 30% inflation and stay away from Bitcoin!

New Data Links Pandemic’s Origins to Raccoon Dogs at Wuhan Market
https://uk.yahoo.com/news/data-links-pandemic-origins-raccoon-113724388.html

[ChartBuddy]

Explanation

[OgNasty]

It looks like we’ve broken through resistance and the market is ready to take the next leg up. Amazing performance given is occurring in global marketplaces. I think with this strength it’s possible to hit $30K this month! Maybe unlikely and there would be a lot of profit taking I’m sure, but there is very little holding this market down at the moment.

[macson]

[1] https://twitter.com/BitcoinNewsCom/status/1636775232525549569

BTC = pump their wealth + pump their health

[ChartBuddy]

Explanation

[d_eddie]

Despite bitcoin "liking" the current crisis (as far as it's price is concerned), I would prefer the situation being less frenetic....banks slowly declining over long period of time and bitcoin rising would be my preference.
When there is more chaos, collateral damage can occur and gov is prone to some sudden moves as well.
Yesterday pundits were saying the mini-crisis "is over". Today it looks a bit different.
Who knows what the actual situation is.

Words of wisdom.

Certainly enjoying the btc pump  

Can't say I'm complaining either.

[cygan]

https://twitter.com/BitcoinNewsCom/status/1636785744680189969

[Gachapin]

I'm pretty clueless when it comes to this stuff.  But I heard something about filling the gaps...

https://twitter.com/TXMCtrades/status/1636718398120894467

[JayJuanGee]

Are we preparing for a bull run? I am surprised because I did not think we would see above $26000 again this month and the news is all positive atm. If you google Bitcoin you get results of experts predicting above $30000 and while I try to keep a open mind I do not always fall for what they call experts but it does seem that the overall attitude is positive and that should help create hype and push the price up further.

Frequently, I am of the opinion that momentum tends to be more important than hype.. so if momentum can be obtained, then sometimes that momentum might be sustained for a while (until it is not) and will take the BTC price beyond expectations.. whether to the upside or the downside.

At the same time, I do not tend to take any momentum for granted (except for maybe if I perceive that we might be in a deadman's zone, and even then, usually I do not tend to alter pre-existing orders) - even though I try to enjoy such momentum while it is happening.. even if I might remain somewhat nervous in regards to how long it might last while it is happening...... and my nervousness, likely comes from historical reverses of momentum that don't really seem to have much if any explanation, except maybe looking at them after they are over.. whether any of us might be able to identify a crazy-ass wick going down or a crazy ass wick going up.... and sometimes even something like that does not end up resulting in the actual bottom or the actual top of a king daddy price run.

That's worth a merit each. 

Yeah..

but what does it mean?

Hopefully it does not mean top, or double top.. couldn't be double top.  That's not even close to a reasonable interpretation, right?  Might need to see more.

[1] https://twitter.com/BitcoinNewsCom/status/1636775232525549569
BTC = pump their wealth + pump their health

Meat and fat (animal fat) are likely more healthy to eat than fruits..

But whatever, a somewhat minor technicality.

[Biodom]

I'm pretty clueless when it comes to this stuff.  But I heard something about filling the gaps...

https://twitter.com/TXMCtrades/status/1636718398120894467

yea, with two caveats:
1. I am not sure how relevant is a CME gap for an asset that trades 24/7/365. Seems like something a bit artificial.
2. The order of gap filling (if it happens) is unknowable...maybe the one around 29K would be first (more likely) or, perhaps, the one at around 20.3K would be first; personally, I prefer lower gaps to fill first because 29K to 20K is a more daunting sequence of events.

For giggles, here are TSLA unfilled gaps: some around $43, some around $76 and $82 (all three made when going up). The gap at $262 (going downward) did not get filled yet as well.
https://www.thestreet.com/investing/stocks/5-unfilled-gaps-in-tesla-tsla-s-chart

[ChartBuddy]

Explanation

[dragonvslinux]

I'm pretty clueless when it comes to this stuff.  But I heard something about filling the gaps...

yea, with two caveats:
1. I am not sure how relevant is a CME gap for an asset that trades 24/7/365. Seems like something a bit artificial.
2. The order of gap filling (if it happens) is unknowable...maybe the one around 29K would be first (more likely) or, perhaps, the one at around 20.3K would be first; personally, I prefer lower gaps to fill first because 29K to 20K is a more daunting sequence of events.

For giggles, here are TSLA unfilled gaps: some around $43, some around $76 and $82 (all three made when going up). The gap at $262 (going downward) did not get filled yet as well.
https://www.thestreet.com/investing/stocks/5-unfilled-gaps-in-tesla-tsla-s-chart

Point 1 is the most relevant imo. Unlike S&P500 or other assets, Bitcoin doesn't "officially" have any gaps in trading. This has never happened and isn't possible. If a futures market creates gaps then this is a different story entirely. Point 2 is also highly relevant, if we're going to talk about filling gaps. Point 3: there are also gaps around $36K and $53K. Around that time many speculated that they would be filled "because they always get filled", but they didn't. Then they forgot about these gaps and focused instead on newer gaps. There's currently 5 "gaps" right now, 2 below* and 3 above.

Clearly price isn't drawn to filling them, otherwise there wouldn't be 5 of them!

*There's still a gap under $10K, good chance it will never be filled.

Now imagine waiting for price to fill the $10K when price is at $12K, then instead it goes to $60K, only to create another gap around $50K to $45K.

[Biodom]

I'm pretty clueless when it comes to this stuff.  But I heard something about filling the gaps...

yea, with two caveats:
1. I am not sure how relevant is a CME gap for an asset that trades 24/7/365. Seems like something a bit artificial.
2. The order of gap filling (if it happens) is unknowable...maybe the one around 29K would be first (more likely) or, perhaps, the one at around 20.3K would be first; personally, I prefer lower gaps to fill first because 29K to 20K is a more daunting sequence of events.

For giggles, here are TSLA unfilled gaps: some around $43, some around $76 and $82 (all three made when going up). The gap at $262 (going downward) did not get filled yet as well.
https://www.thestreet.com/investing/stocks/5-unfilled-gaps-in-tesla-tsla-s-chart

Point 1 is the most relevant imo. Unlike S&P500 or other assets, Bitcoin doesn't "officially" have any gaps in trading. This has never happened and isn't possible. If a futures market creates gaps then this is a different story entirely. Point 2 is also highly relevant, if we're going to talk about filling gaps. Point 3: there are also gaps around $36K and $53K. Around that time many speculated that they would be filled "because they always get filled", but they didn't. Then they forgot about these gaps and focused instead on newer gaps. There's currently 5 "gaps" right now, 2 below* and 3 above.

Clearly price isn't drawn to filling them, otherwise there wouldn't be 5 of them!

*There's still a gap under $10K, good chance it will never be filled.

Now imagine waiting for price to fill the $10K when price is at $12K, then instead it goes to $60K, only to create another gap around $50K to $45K.

I am selling a bit if we fill the 53K gap soonish.

[Gachapin]

I'm pretty clueless when it comes to this stuff.  But I heard something about filling the gaps...

https://twitter.com/TXMCtrades/status/1636718398120894467

yea, with two caveats:
1. I am not sure how relevant is a CME gap for an asset that trades 24/7/365. Seems like something a bit artificial.
2. The order of gap filling (if it happens) is unknowable...maybe the one around 29K would be first (more likely) or, perhaps, the one at around 20.3K would be first; personally, I prefer lower gaps to fill first because 29K to 20K is a more daunting sequence of events.

For giggles, here are TSLA unfilled gaps: some around $43, some around $76 and $82 (all three made when going up). The gap at $262 (going downward) did not get filled yet as well.
https://www.thestreet.com/investing/stocks/5-unfilled-gaps-in-tesla-tsla-s-chart

thanks for the explanation!

[cygan]

https://twitter.com/LilMoonLambo/status/1636454230780157978