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

[Biodom]

It's annoying to look at substantial buys that trigger a ton of sells as soon as barely touching $112k right now.
A bit more momentum and shorts would be eaten up in a short while.

Eh it's just the weak hands shaking out at 111k.

HODL.

Question is..why there are those "weak hands" at a seemingly irrelevant value of 111K? A rhetorical question.
My "proposed" local top of, hopefully 216K, might occur if and when MSTR joins SP500, which could be in September.
Interestingly, there was a local top (the first in the double hump in 2021) when Coinbase IPOed.
Some people started talking about $444-475K (or 0.444-475M  ), but for now this seem a bit excessively optimistic.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

It's annoying to look at substantial buys that trigger a ton of sells as soon as barely touching $112k right now.
A bit more momentum and shorts would be eaten up in a short while.

Eh it's just the weak hands shaking out at 111k.

HODL.

Question is..why there are those "weak hands" at a seemingly irrelevant value of 111K? A rhetorical question.
My "proposed" local top of, hopefully 216K, might occur if and when MSTR joins SP500, which could be in September.
Interestingly, there was a local top (the first in the double hump in 2021) when Coinbase IPOed.
Some people started talking about $444-475K (or 0.444-475M   ), but for now this seem a bit excessively optimistic.

Well we went under 109 k from jan 20 until a day or two ago.

111k is clearly better than 109k

and they got in at 74k on the correction a month or so ago they are now up exactly 50%

1.5 x 74 =111  so my guess is they are simply taking profits from the dip buy.

if they grabbed 10 coins at 74k they paid 740k if they cash 8 of them they get 888k  and now have 2 free BTC plus a few worthless dollars after taxes.

Say 30k cash after tax and 2 coins.


They can now wait for a dip to get more.

Or hodl the 2 "free" coins and wait for price to go way up say 250 a coin.

It is hard to turn down sure winning moves if they arise.

[Biodom]

It's annoying to look at substantial buys that trigger a ton of sells as soon as barely touching $112k right now.
A bit more momentum and shorts would be eaten up in a short while.

Eh it's just the weak hands shaking out at 111k.

HODL.

Question is..why there are those "weak hands" at a seemingly irrelevant value of 111K? A rhetorical question.
My "proposed" local top of, hopefully 216K, might occur if and when MSTR joins SP500, which could be in September.
Interestingly, there was a local top (the first in the double hump in 2021) when Coinbase IPOed.
Some people started talking about $444-475K (or 0.444-475M   ), but for now this seem a bit excessively optimistic.

Well we wrestle under 109 k from jan 20 until a ay or two ago.

111k is clear better than 109k

and they got in at 74k on the correction a month or so ago they are now up exactly 50%

1.5 x 74 =111  so my guess is they are simply taking profits from the dip buy.

if they grabbed 10 coins at 74k they paid 740k if they cash 8 of them they get 888k  and not have 2 free BTC plus a few worthless dollars after taxes.

Say 30k cash after tax and 2 coins.


They can now wait for a dip to get more.

Or hodl the 2 "free" coins and wait for price to go way up say 250 a coin.

It is hard to turn down sure winning moves if they arise.

Not a winning move, imho, as it is very short-sighted.
EDIT the scenario Nick is proposing in a clip below (a supply squeeze and a spike) is actually quite possible:
https://www.youtube.com/watch?v=0A58iIfsyBE

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[fillippone]

1.5 x 74 =111  so my guess is they are simply taking profits from the dip buy.

How can be someone so cold minded to catch a falling knife, sell when things are going to be so parabolic?
Can it be the same person?

[philipma1957]

It's annoying to look at substantial buys that trigger a ton of sells as soon as barely touching $112k right now.
A bit more momentum and shorts would be eaten up in a short while.

Eh it's just the weak hands shaking out at 111k.

HODL.

Question is..why there are those "weak hands" at a seemingly irrelevant value of 111K? A rhetorical question.
My "proposed" local top of, hopefully 216K, might occur if and when MSTR joins SP500, which could be in September.
Interestingly, there was a local top (the first in the double hump in 2021) when Coinbase IPOed.
Some people started talking about $444-475K (or 0.444-475M   ), but for now this seem a bit excessively optimistic.

Well we went under 109 k from jan 20 until a day or two ago.

111k is clear better than 109k

and they got in at 74k on the correction a month or so ago they are now up exactly 50%

1.5 x 74 =111  so my guess is they are simply taking profits from the dip buy.

if they grabbed 10 coins at 74k they paid 740k if they cash 8 of them they get 888k  and not have 2 free BTC plus a few worthless dollars after taxes.

Say 30k cash after tax and 2 coins.


They can now wait for a dip to get more.

Or hodl the 2 "free" coins and wait for price to go way up say 250 a coin.

It is hard to turn down sure winning moves if they arise.

Not a winning move, imho, as it is very short-sighted.
EDIT the scenario Nick is proposing in a clip below (a supply squeeze and a spike) is actually quite possible:
https://www.youtube.com/watch?v=0A58iIfsyBE

but it is not certain.

what I described is a certain win

with all taxes paid
30k cash
2 btc

for letting the 740k purchase made a month ago ride for 30-40 days.

so in addition to the profits above

you also have you complete investment starter money of 740k sitting where ever.

Many players make this type of move 1 or 2 times a year if they can.

It is safer and is a certain win

They can do whatever they want with the 30 cash and the 740k cash principal.

[xhomerx10]

Just ordered a couple of large Papa John's pizzas.  Happy Bitcoin Pizza Day!

NB. I'm paying with dirty fiat rather than bitcoin

edit:  They have arrived!  Delivery and tip included (and I also got 10 wings), I could have done this 23,393,939 times for 10,000 BTC today.  Wow!

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

It's annoying to look at substantial buys that trigger a ton of sells as soon as barely touching $112k right now.
A bit more momentum and shorts would be eaten up in a short while.

Eh it's just the weak hands shaking out at 111k.

HODL.

Question is..why there are those "weak hands" at a seemingly irrelevant value of 111K? A rhetorical question.
My "proposed" local top of, hopefully 216K, might occur if and when MSTR joins SP500, which could be in September.
Interestingly, there was a local top (the first in the double hump in 2021) when Coinbase IPOed.
Some people started talking about $444-475K (or 0.444-475M   ), but for now this seem a bit excessively optimistic.

Well we wrestle under 109 k from jan 20 until a ay or two ago.

111k is clear better than 109k

and they got in at 74k on the correction a month or so ago they are now up exactly 50%

1.5 x 74 =111  so my guess is they are simply taking profits from the dip buy.

if they grabbed 10 coins at 74k they paid 740k if they cash 8 of them they get 888k  and not have 2 free BTC plus a few worthless dollars after taxes.

Say 30k cash after tax and 2 coins.


They can now wait for a dip to get more.

Or hodl the 2 "free" coins and wait for price to go way up say 250 a coin.

It is hard to turn down sure winning moves if they arise.

Not a winning move, imho, as it is very short-sighted.
EDIT the scenario Nick is proposing in a clip below (a supply squeeze and a spike) is actually quite possible:
https://www.youtube.com/watch?v=0A58iIfsyBE

but it is not certain.

what I described is a certain win

with all taxes paid
30k cash
2 btc

for letting the 740k purchase made a month ago ride for 30-40 days.

so in addition to the profits above

you also have you complete investment sitting where ever.

Many players make this type of move 1 or 2 times a ear if they can.

It is safer and is a certain win

They can do whatever they want with the 30 cash and the 740k cash principal.

I am not clear on your math and tactics.

In your scenario, they would have short term cap gains of 888-740=148K. Even if you pay 50% tax (which could be the number in NY and NJ), it is still 74K in after tax profit, not 30K.
Additionally, this scenario is kind of backward looking: if someone had the guts to buy the dip at 74K and with gusto (740K), I would assume that they would go for something more substantial than 50% (especially during the last year of a bull market). You call the trade "safe", but it is that ONLY because you know the current price of 111K and nothing else. It was certainly not safe at 74K.

That said, it could (underlying the possibility) be a good trade IF we would have a dip to, say, 85K or so soon.
Personally, I try to avoid trades like this, or at least make them very small and doing them just for "fun".

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

1.5 x 74 =111  so my guess is they are simply taking profits from the dip buy.

How can be someone so cold minded to catch a falling knife, sell when things are going to be so parabolic?
Can it be the same person?

Well he or she may formula move wealth.

And the 30,000 cash after tax with 2 coin profit works.

Remember this person would still have the 740k original wealth

And 222k in coins and 30k in cash.

So 740k in to 740k plus 222k in coins plus 30k in cash and tax,bill paid is huge.

For traditional investment.

If you did this over and over every forty days and made same profits time after time you would be a solid broker-money manager.

Dca and hodl is preached a lot here for a person making his own picks it is good.

But many people go to a broker manager and they shift funds like mad.

during the internet craze in the nineties I watched friends with 2 and 3 million dollar funds that they did nothing they just let the managers Make the moves.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

Haven't used them anyways, but Fuck you Bitstamp....

We’re proud to announce that Bitstamp Europe S.A. received a Crypto Asset Service Provider (CASP) license approval under the European Union’s Markets in Crypto-Assets (MiCA) regulation.

......

As part of MiCA framework, the Travel Rule is now in effect. Starting today, you’ll notice the following changes when depositing and withdrawing on the Bitstamp web platform, mobile app, or via API:

For all crypto transfers: You must provide counterparty information and determine whether the address is self-custody or hosted by an exchange.

For all crypto transfers over €1,000 to self-custody wallets you own: A one-time ownership verification is required to confirm that you control the address.

For all crypto transfers over €1,000 to and from third party-owned self-custody wallets: These will be unsupported while we work on a secure solution for verifying third-party ownership.

And Happy ATH everyone!!!!!!!!!!!!

[JimboToronto]

Finally got to see exactly $111111 USD at Bitstamp. 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Paashaas]

Haven't used them anyways, but Fuck you Bitstamp....

We’re proud to announce that Bitstamp Europe S.A. received a Crypto Asset Service Provider (CASP) license approval under the European Union’s Markets in Crypto-Assets (MiCA) regulation.

......

As part of MiCA framework, the Travel Rule is now in effect. Starting today, you’ll notice the following changes when depositing and withdrawing on the Bitstamp web platform, mobile app, or via API:

For all crypto transfers: You must provide counterparty information and determine whether the address is self-custody or hosted by an exchange.

For all crypto transfers over €1,000 to self-custody wallets you own: A one-time ownership verification is required to confirm that you control the address.

For all crypto transfers over €1,000 to and from third party-owned self-custody wallets: These will be unsupported while we work on a secure solution for verifying third-party ownership.

And Happy ATH everyone!!!!!!!!!!!!

Create a new wallet make a screenshot send to Bitstamp, thats it move on.

Drama for a non-issue.