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

[Toxic2040]

under $65.5k and still falling    lol?


#hands

[Biodom]

Now...pretty much all support has broken down and nobody knows what would happen.

The next major support level is around $54K.  We will likely visit it before this is all over.  What isn't obvious is if we stop there and reverse or if we fall to the next support level, which is just below $30K.  Personally, I think the bottom will be somewhere between those 2 numbers (hopefully closer to the top), but there is hope for a relief rally at the 200 week moving average, currently around $58K.  Today isn't the bottom.  Neither is tomorrow.  I'm guessing we will find it somewhere between this September and next March after a few sideways months around $50K before a final shakeout.

I am however not waiting to try and time the bottom.  I have already started monthly DCA buys and plan to continue them for the next 2 years before holding and then selling again in the spring of 29.

Thanks, Mr Nostradamus...30-58K is quite a range...just as N. prophesized as well.

All simplified cycle predictions are a bit naive, but i find my students getting dumber and dumber each year (somebody should make a study of that), so bitcoin behavior is, perhaps, a reflection on the bitcoin traders as a populace. Or, maybe civilization as we know it is about to collapse  .

Otherwise, there is no rationality in bitcoin going to 30-40K...none.

[BlackHatCoiner]

58k gang soon to reunite.

[Ambatman]

What isn't obvious is if we stop there and reverse or if we fall to the next support level, which is just below $30K.

My Cornzz

Can anybody recommend the cheapest healthy food asking for a friend.
I don't think he can afford ramen.

58k gang soon to reunite.

I thought we all agreed $58K no more. Sigh.

[BitHodlers]

If you are panicking or thinking about doomsday scenarios, they got to you. It works, even when we say that it doesn't work on us.

As far as I remember, 1 BTC is still equal to 1 BTC.

[goldkingcoiner]

What isn't obvious is if we stop there and reverse or if we fall to the next support level, which is just below $30K.

My Cornzz

Can anybody recommend the cheapest healthy food asking for a friend.
I don't think he can afford ramen.

Acorns.

[OgNasty]

Now...pretty much all support has broken down and nobody knows what would happen.

The next major support level is around $54K.  We will likely visit it before this is all over.  What isn't obvious is if we stop there and reverse or if we fall to the next support level, which is just below $30K.  Personally, I think the bottom will be somewhere between those 2 numbers (hopefully closer to the top), but there is hope for a relief rally at the 200 week moving average, currently around $58K.  Today isn't the bottom.  Neither is tomorrow.  I'm guessing we will find it somewhere between this September and next March after a few sideways months around $50K before a final shakeout.

I am however not waiting to try and time the bottom.  I have already started monthly DCA buys and plan to continue them for the next 2 years before holding and then selling again in the spring of 29.

Thanks, Mr Nostradamus...30-58K is quite a range...just as N. prophesized as well.

The nickname I've been called in various chatrooms for over a decade by those who follow my predictions has been Ogstradamus, but it is nice that you are coming around. I have nailed the tops and bottoms so well over the years, I've decided this cycle I would be more vocal about it here as I am one of very few professional analysts who have been covering Bitcoin for 15 years.

What, exactly, in your charts predicted the turn around at 97K...asking for a friend.
It's all f-g random, man.

It only appears random if you don't know what is going on...

[OutOfMemory]

Hey, did i miss something in the last 3 hours?

[Biodom]

under $65.5k and still falling    lol?


#hands

What, exactly, in your charts predicted the turn around at 97K...asking for a friend.
It's all f-g random, man.

[OutOfMemory]

under $65.5k and still falling    lol?


#hands

What, exactly, in your charts predicted the turn around at 97K...asking for a friend.
It's all f-g random, man.

It's not random, but chaotic. Like life, universe and all the rest.

EDIT: C'mon, this used to be more fun. Where's the rollercoaster?

[Biodom]

Now...pretty much all support has broken down and nobody knows what would happen.

The next major support level is around $54K.  We will likely visit it before this is all over.  What isn't obvious is if we stop there and reverse or if we fall to the next support level, which is just below $30K.  Personally, I think the bottom will be somewhere between those 2 numbers (hopefully closer to the top), but there is hope for a relief rally at the 200 week moving average, currently around $58K.  Today isn't the bottom.  Neither is tomorrow.  I'm guessing we will find it somewhere between this September and next March after a few sideways months around $50K before a final shakeout.

I am however not waiting to try and time the bottom.  I have already started monthly DCA buys and plan to continue them for the next 2 years before holding and then selling again in the spring of 29.

Thanks, Mr Nostradamus...30-58K is quite a range...just as N. prophesized as well.

The nickname I've been called in various chatrooms for over a decade by those who follow my predictions has been Ogstradamus, but it is nice that you are coming around. I have nailed the tops and bottoms so well over the years, I've decided this cycle I would be more vocal about it here as I am one of very few professional analysts who have been covering Bitcoin for 15 years.

What, exactly, in your charts predicted the turn around at 97K...asking for a friend.
It's all f-g random, man.

It only appears random if you don't know what is going on...

well, a 30K-58K range suggests that you don't know it either  
PS: I am making bank on a small MSTZ hedge-up almost 30% today...well... it is a small solace.

[Satofan44]

The nickname I've been called in various chatrooms for over a decade by those who follow my predictions has been Ogstradamus, but it is nice that you are coming around. I have nailed the tops and bottoms so well over the years, I've decided this cycle I would be more vocal about it here as I am one of very few professional analysts who have been covering Bitcoin for 15 years.

I guess that didn't work out so well for your marriage, did it?  

well, a 30K-58K range suggests that you don't know it either 

Nobody knows anything is the correct answer, but many people are trying to fake it to a reputation of being correct.

[OutOfMemory]

Oct'24 levels reached, looks like support here?

[JayJuanGee]

So far the bottom has been called by me at 66.6k. let us see If I am the mad genius so stupidly luck one this time.

Although I think that this is the bottom if OgNasty is to be proven wrong.

But unfortunately OgNasty may not be wrong which means more pain and under 60k

Ready to say "phil was right" if we can go back up now

At the moment, it doesn’t want to go up

[NotATether]

Excavator rocket!


Damn you Polymarket, resolve my trade already. I want to buy the dip!

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[OutOfMemory]

Excavator rocket!


Damn you Polymarket, resolve my trade already. I want to buy the dip!

I snipped myself a bit a minute ago.

[cAPSLOCK]

Or, maybe civilization as we know it is about to collapse  .

Is going to?

[philipma1957]

So far the bottom has been called by me at 66.6k. let us see If I am the mad genius so stupidly luck one this time.

Although I think that this is the bottom if OgNasty is to be proven wrong.

But unfortunately OgNasty may not be wrong which means more pain and under 60k

Ready to say "phil was right" if we can go back up now

At the moment, it doesn’t want to go up

Well it went lower than 66.6k

Oh well

[cAPSLOCK]

I wanted to repost something here that I said to an audience of people who I will not describe as to their level of ignorance when it comes to what Bitcoin is. But I think it's kind of a good summation and it was in response to some people discussing the potential troubles of MSTR.

Something that I think is important to consider right now is what MSTR is. It is essentially paper Bitcoin.

And paper Bitcoin isn't Bitcoin.

Various forms of paper Bitcoin and then the derivatives that come from them end up having a negative price impact on actual Bitcoin via rehypothication.

One of the most interesting properties of Bitcoin that I think is still fairly misunderstood is that it is simple to take custody of it oneself. Well... when you actually own real Bitcoin.

I believe we are seeing the fruition of the late Charlie Munger's prophecy that "they" would tame it. And I think it is through mainly derivatives on the institutional products, just as they have done with the underlying assets of every other ETF.

But the issue of global, permissionless, digital custody is going to make that a very interesting fight.

I'm already running out of popcorn.