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

[Gachapin]

At what price do we start to get concerned about whether we are still in a bull market?

Observing $55,456 and 26% down from ATH made earlier this year. Six months of chop (lower highs, decreasing price, no bounces now) back to the price we were at in February.

Sorry for being a bitch guys, obviously selling nothing. I will go down with the ship, relying on four year cycles but seriously WTF.

Last cycle COVID neutered our bull run at 69k. Is it going to be fucked by macro finance this time, the US economy is creaking, recession likely.

Happy to read some HOPIUM boys.

Pls don't be sorry!  I enjoy your thoughts.
There sometimes is an almost religious fanaticism of WO members that attack anyone who wants to discuss potential short/midterm bearishness. It must look quite stupid to outsiders, and probably doesn't leave a good impression.


Of course it needs more money to pump the prices compared to 2013 or so.  But nevertheless I have the feeling there is some price suppression going on, since the 2017 top.  It might be the derivatives, or at least a combination of things including them.  But what do I know.  However ... I have the feeling^TM that there is quite some selling of non existing coins happening.

Just remember, 94% of all BTC in existence is already mined. Over the next years we will probably see a hard fought distribution with a lot of shenanigans.

[El duderino_]

[Gachapin]

what's your guys prediction on how low we will go until a real reversal?  

My worst case is in the lower 40k's


Hopium:
If I check the weekly I see a huge bullflag forming over the last half year. It looks quite convincing

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[vapourminer]

you guys are up far too early

[OutOfMemory]

Back again.
Price $8k lower, 34 pages to backread 
This will take some days... 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

well buddy seems tired of all those 56k numbers.

so I guess we do 55s for a while.

I posted somewhere that coinbase is doing trades and coin moves with ai.

which is an attack on the Ln system of off chain coin moves.

and Ln which was an attack on fullchain coin moves.

but meanwhile the btc hash rate still grows.

A very interesting pressure cooker is happening right now.

https://newhedge.io/terminal/bitcoin/difficulty-estimator

Latest Block:   860136  (a few seconds ago)

Current Pace:   102.9031%  (1321 / 1283.73 expected, 37.27 ahead)

Previous Difficulty:   86871474313761.95                           
Current Difficulty:   89471664776970.77                           
Next Difficulty:   between 91867979009305 and 92201045828977
Next Difficulty Change:   between +2.6783% and +3.0506%
Previous Retarget:   August 28, 2024 at 10:13 AM  (+2.9931%)
Next Retarget (earliest):   Wednesday at 12:44 AM  (in 4d 16h 33m 55s)
Next Retarget (latest):   Wednesday at 1:52 AM  (in 4d 17h 41m 31s)
Projected Epoch Length:   between 13d 14h 31m 14s and 13d 15h 38m 50s

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Richy_T]

"Twenty-two years ago, while experimenting in Colorado with a wireless power plant, I obtained extraordinary experimental evidence of the existence of life on Mars. I had perfected a wireless receiver of extraordinary sensitiveness, far beyond anything known, and I caught signals which I interpreted as meaning 1 -- 2 -- 3 -- 4. I believe the Martians used numbers for communication because numbers are universal." Nikola Tesla, 1922

The chances of anything coming from Mars are a million to one.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[xzy887]

[somac.]

what's your guys prediction on how low we will go until a real reversal?  

My worst case is in the lower 40k's


Hopium:
If I check the weekly I see a huge bullflag forming over the last half year. It looks quite convincing

Bottom of current channel is around 50k.

For a full bottom I reckon we see low 40s possibly high 30s. After that fed and gov start the printers and we have a repeat of the covid bull market. At the moment we're in 2019.

I have accrued a good amount of dry powder, waiting to use it still. Happy to not be able to use it though.

[LoyceV]

At what price do we start to get concerned about whether we are still in a bull market?

Observing $55,456 and 26% down from ATH made earlier this year. Six months of chop (lower highs, decreasing price, no bounces now) back to the price we were at in February.

I always tell myself 30% drops on the way up are completely normal in a bull market. Add the fact that "down" is usually slow and long while "up" is short and quick, so I'm patiently not selling

The chances of anything coming from Mars are a million to one.

I've listened to Jeff Wayne on vacation in the car, nice classic.

[JimboToronto]

Why did buddy lower the price of Bitcoin? 

The price? Buddy's about the order book at Bitstamp, not the price.

[El duderino_]

Disliking.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BobLawblaw]

Prolly gunna re-test $42k-45k. Pepper your angus.

[psycodad]