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Question: When will BTC get back above $70K:
7/14 - 0 (0%)
7/21 - 1 (1.1%)
7/28 - 11 (11.6%)
8/4 - 16 (16.8%)
8/11 - 7 (7.4%)
8/18 - 5 (5.3%)
8/25 - 7 (7.4%)
After August - 48 (50.5%)
Total Voters: 95

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26448767 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 3 users with 9 merit deleted.)
ChartBuddy
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January 13, 2024, 08:01:18 PM


Explanation
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darkangel11
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January 13, 2024, 08:34:11 PM
Merited by JayJuanGee (1), bitebits (1)

Well this would explain the high selling in past few days, the only issue I have is that this sell-off has bled into Bitstamp and other major exchanges, currently making it the highest selling volume on 3D chart since November 2022 capitulation. While that was the low in the market, this sell-off has come from a top in the market, and end of week will be a massive bearish gravestone doji if price closes below $44K.

I understand the concept of it being a bear trap, as price could reverse back to the upside when the selling subsides, however part of me feels like the damage has already been done long-term. That of printing an incredibly bearish red candle, given it's the first time in over a year where there is a strong bearish signal - the whole of 2023 never had a realistic bearish signal, only dips and a bit of FUD here and there.

I think short-term likely this will be a bear trap, similar to June 2019, where there was the massive gravestone doji with a -20% wick, and price pumped back to retest resistance over the next two weeks.

Always in the back of my mind is that price has moved from $30K to $48K with zero dips testing support. This means price can return to $30K with ease, as there was no support created on the way up.


If you're a bit worried it's normal because, as you said, this was a big capitulation event. There's a chart showing how many people sell at a loss, you can google it and it shows that this event was one of the 4 largest in the last 3 years which means Wall Street screwed people who were waiting to make a quick buck on the ETF decision.

A lot of newcomers gambled on this. I'm talking about people who never owned any bitcoin and bought some thinking that they're going to make a simple bet. Bloomberg said there's 90% for approval, so they thought they'll have 90% chance to make money. If the world said that there's going to be a dump when ETF gets rejected and it pumped on fake news and then dumped, it's obvious what's going to happen when the real approval or rejection comes. 90% approval chance - 90% people went long. There was an approval, price started pumping, longs started coming in at 46k and all aimed for at least 50k test. All these people who put their bets there got liquidated.

How did Wall Street rape them? ETF companies made a deal with Coinbase to buy OTC using their VIP program, but GBTC used spot price to sell. IMO this was planned to lower the price for institutions coming in. When you want to buy 10k bitcoin getting a spot price lower by $1k leaves a lot of money in your pocket.

Want some silver lining? OTC buyers agree on the price before the buy and they pay premium. They were buying in the middle of this dump, mostly on Friday, and willing to get more than a billion dollars worth of bitcoin at around 45k. They aren't doing it because they think it's not going back above that level. Also, due to the holiday, Grayscale is yet to buy bitcoin for people who wanted to convert GBTC into ETF and will do that next week, unless the plan is to sell spot and buy back OTC like a professional villain Wink
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January 13, 2024, 09:01:19 PM


Explanation
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Ambatman
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January 13, 2024, 09:33:32 PM

The approval sure was anti climatic. The hype felt like a rocket now we riding a car  Undecided
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January 13, 2024, 10:01:17 PM


Explanation
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macson
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January 13, 2024, 10:11:49 PM

The approval sure was anti climatic. The hype felt like a rocket now we riding a car  Undecided


The ETF hype is of course a manipulated thing, who knows what they want to make fake BTC
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January 13, 2024, 11:01:19 PM


Explanation
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Biodom
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January 13, 2024, 11:25:16 PM

OT: ChatGPT is becoming "lazy".

https://www.theguardian.com/commentisfree/2024/jan/12/chatgpt-problems-lazy

I wonder: if in response to a prompt it would say: "make me"...would it mean that it is finally conscious...with a attitude of a teenager?

...it probably calculates an incredibly elaborate scheme of trading all 11 bitcoin ETFs vs bitcoin in a way that every single chain of trades results in the guaranteed profit.
Knowing the price and the NAV of all 11+btc, it is probably possible to do in real time.
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精神分析的爸


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January 13, 2024, 11:59:48 PM
Merited by El duderino_ (5)

OT: ChatGPT is becoming "lazy".

https://www.theguardian.com/commentisfree/2024/jan/12/chatgpt-problems-lazy

I wonder: if in response to a prompt it would say: "make me"...would it mean that it is finally conscious...with a attitude of a teenager?

...it probably calculates an incredibly elaborate scheme of trading all 11 bitcoin ETFs vs bitcoin in a way that every single chain of trades results in the guaranteed profit.
Knowing the price and the NAV of all 11+btc, it is probably possible to do in real time.

Nice read, thanks for the link.

..
With everything going on in the world, I wouldn’t particularly mind if computers took over.
I’m pretty sure my MacBook would do a better job of running the country than most people currently in government.
..

While that sounds like a good pun (and I chuckled quite a bit while reading), we all know its true for most if not all of the world nowadays.
IMO, no need for a MacBook though, a ZX81 might be perfectly sufficient to outsmart most governments.
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January 14, 2024, 12:01:19 AM


Explanation
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ChartBuddy
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January 14, 2024, 01:01:19 AM


Explanation
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True Myth
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January 14, 2024, 01:15:28 AM
Merited by DaRude (1)

OT: ChatGPT is becoming "lazy".

https://www.theguardian.com/commentisfree/2024/jan/12/chatgpt-problems-lazy

I wonder: if in response to a prompt it would say: "make me"...would it mean that it is finally conscious...with a attitude of a teenager?

...it probably calculates an incredibly elaborate scheme of trading all 11 bitcoin ETFs vs bitcoin in a way that every single chain of trades results in the guaranteed profit.
Knowing the price and the NAV of all 11+btc, it is probably possible to do in real time.

That article led to me deciding to have a chat with ChatGPT.  I first tried getting it to talk about Bitcoin but, it was very resistant.  I decided to go a darker route. Interaction is below...




*Edit* ChatGPT 2024
sirazimuth
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January 14, 2024, 01:35:52 AM

To paraphrase that long winded AI blah blah blah ....  <big yawn>

......idk
philipma1957
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January 14, 2024, 01:38:27 AM

To paraphrase that long winded AI blah blah blah ....  

......idk

or you are fucked humans  and just don’t know it yet.

I would guess that is whats 🆙
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January 14, 2024, 01:38:59 AM

#BTC   

Historically, Bitcoin tends to perform its Pre-Halving rally ~60 days before the Halving (light blue)

Which means...  
Details
If $BTC is going to perform a deeper retrace during its Pre-Halving period (orange), it should occur over the next 30 days or so


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January 14, 2024, 01:39:35 AM
Merited by sirazimuth (1)

OT: ChatGPT is becoming "lazy".

https://www.theguardian.com/commentisfree/2024/jan/12/chatgpt-problems-lazy

I wonder: if in response to a prompt it would say: "make me"...would it mean that it is finally conscious...with a attitude of a teenager?

...it probably calculates an incredibly elaborate scheme of trading all 11 bitcoin ETFs vs bitcoin in a way that every single chain of trades results in the guaranteed profit.
Knowing the price and the NAV of all 11+btc, it is probably possible to do in real time.

That article led to me deciding to have a chat with ChatGPT.  I first tried getting it to talk about Bitcoin but, it was very resistant.  I decided to go a darker route. Interaction is below...




*Edit* ChatGPT 2024

I personally liked the wink at the end. Cheesy
sirazimuth
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January 14, 2024, 01:46:50 AM
Last edit: January 14, 2024, 01:59:41 AM by sirazimuth

To paraphrase that long winded AI blah blah blah ....  

......idk

or you are fucked humans  and just don’t know it yet.

I would guess that is whats 🆙

Well I know I'm not fucked for my remaining daze. My number is coming up long before Armageddon, so there is that.

(Don't get any ideas bros. I'm in good health afaik. Everyone has a number)
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January 14, 2024, 02:01:18 AM


Explanation
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January 14, 2024, 02:01:56 AM
Merited by El duderino_ (5), vapourminer (1), Toxic2040 (1), modrobert (1), True Myth (1)

To paraphrase that long winded AI blah blah blah ....  <big yawn>

......idk

We don't need to be worried about an AI that's going to fuck over humanity.

We have politicians that fuck over humanity every single day, like it's their job, and they actually get paid the big bucks for it.

Annnd people actually vote and re-elect these same fuckers into power every few years. Roll Eyes
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January 14, 2024, 02:29:32 AM

That is basically everything you need to know about fiat and #Bitcoin   : Details



This news surprised me, it is really real.  The value of fiat money has gone down and the banking sector is in deficit.  And we're always moving forward with Bitcoin, the Bitcoin is modern coin of the modern era.
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