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

[El duderino_]

^
with jjg i try my best with english.... 
but learning and learning BETTER AND BETTER

THATS what BTC is given me , a better currency, english lessons, computer skills, security skills etc.... haha

( sometimes when i'm @ a friends place and making a post he correct my writing.... ,getting lessons from everybody these days) micgooss is @ learning stages

my GF also always complaining with my english writing, so pffff gotta do my best and improve on that.

[Last of the V8s]

^
with jjg i try my best with english....  
but learning and learning BETTER AND BETTER

THATS what BTC is given me , a better currency, english lessons, computer skills, security skills etc.... haha

( sometimes when i'm @ a friends place and making a post he correct my writing.... ,getting lessons from everybody these days) micgooss is @ learning stages

my GF also always complaining with my english writing, so pffff gotta do my best and improve on that.

also you've acquired subtle pastiche skills of his waffly meaningless drivel

[Last of the V8s]

his boluses of bathetic boojum

[Majormax]

Still, (I think) Bitcoin was not meant as a way to evade tax or capital controls but to be your own bank by having direct control of your money.

BTC might initially have had those former uses, but is steadily moving away from its experimental past, and that is a very big positive.

Regulations treating BTC as a mainstream asset, including AML and institutional KYC, are already essential at the fiat interface, but the treatment of transfers in crypto alone are a different question.

On one level, regulations about crypto transfers are defacto recognising it offically as money. That may not be a route that monetary authorities want to go down at present.

In most juristictions, all valuable assets are required to be registered in some way,and that usually is a positve in terms of ownership law and security. If BTC is outside that system it will always have a deficiency in terms of adoption and mainstream recognition.

I would envisage BTC and some other cryptos eventually coming within all of that, with most others remaining in the grey zone ,with the concomitant freedoms and also drawbacks of that status.




Surely the primary facet of cryptos (and the one for which BTC was born) is to provide a parallel monetary store and exchange system, as a refuge from the eventual insolvency of the current fiat regime ?


Over the long term, the free market should decide whether that is a worthy, recognised or necessary function.

[Last of the V8s]

^ https://twitter.com/SharkCIANews/status/1047408415537070081 Monday's overreach by Giancarlo and the so-called legal system of the Great Again

[El duderino_]

The more money that floods into high-risk corporate debt, the deeper pain will be when a shock comes. Today...

- For 1st time, >40% of value of US corp bonds are rated BBB.
- Avg spread on junk bonds is down to 3.15%, close to the narrowest since 2007

`

https://latest.13d.com/who-bogeyman-zombies-out-there-corporate-debt-market-complacent-6853d75e0509

[HairyMaclairy]

pointless and much too big. pl try to match text size to forum text size
your charts are great for size though. bigger the better for those

I post from mobile so a pain to resize.  May just post substantive moves rather than jiggery pokery.

[El duderino_]

Still, (I think) Bitcoin was not meant as a way to evade tax or capital controls but to be your own bank by having direct control of your money.

BTC might initially have had those former uses, but is steadily moving away from its experimental past, and that is a very big positive.

Regulations treating BTC as a mainstream asset, including AML and institutional KYC, are already essential at the fiat interface, but the treatment of transfers in crypto alone are a different question.

On one level, regulations about crypto transfers are defacto recognising it offically as money. That may not be a route that monetary authorities want to go down at present.

In most juristictions, all valuable assets are required to be registered in some way,and that usually is a positve in terms of ownership law and security. If BTC is outside that system it will always have a deficiency in terms of adoption and mainstream recognition.

I would envisage BTC and some other cryptos eventually coming within all of that, with most others remaining in the grey zone ,with the concomitant freedoms and also drawbacks of that status.




Surely the primary facet of cryptos (and the one for which BTC was born) is to provide a parallel monetary store and exchange system, as a refuge from the eventual insolvency of the current fiat regime ?


Over the long term, the free market should decide whether that is a worthy, recognised or necessary function.

The ability to evade tax and capital controls is just a consequence of being the sole owner of your money. I do agree that further incorporation of crypto into society and law is a good thing as long as no laws are made that attempt to disrupt the operation of the network or that interferes with obvious technical best practices.
I like your reasoning of providing a parallel monetary store and exchange system as the present system will surely implode at some point. Hopefully BTC and Lightning will be ready by then to support a switch.
To future generations this battle of fiat against crypto will appear the same as things like the french revolution, the rise of socialism and more egalitarian rights, the seperation of church and state, rise of the internet. All important steps in human development. A global and neutral form of hard money is just like that, once adopted we won't turn back.

[HairyMaclairy]

For what it is worth, here is the current chart I use for trading.  Current strategy is to attempt to open shorts at the orange down trend line.  The price at the moment has remained too low beneath the orange trendline so currently have no trades open (short from 28 September has been closed).  Support and resistance is too tightly packed for me to gain an acceptable risk/return on longs.  However a long position from $5,900 would be appealing. 



https://www.tradingview.com/chart/BTCUSD/xAc2kWDL-Bitcoin-USD-Downtrend-state-support-and-resistance-analysis/

[HairyMaclairy]

There are more Coinbase accounts than Bitcoins

[Wekkel]

For what it is worth, here is the current chart I use for trading.

Thanks.

IMHO the action becomes weaker and weaker, clearly visible on the 4hr chart, and with momentum to the downside increasing. Not necessarily a shit show yet but the bulls seem to momentarily loose the bigger momentum.

If the leg up from $6,424 does not surpass previous short term high (about $6,550), there is more pain to come.

[xhomerx10]

they certainly wouldn't appreciate you getting your dong out in a European restaurant. 

You beat me to it.   I am not sure it works too far way from our little part of the world, but you brightened my day.

 The Botswana pula has a similar effect but an even tinier audience; it's only funny to Romanians.

[Rosewater Foundation]

I was hoping for a price rise

I see.

[xhomerx10]

Do people like these sentiment updates or are they dumb?

I like these sentiment updates, we need these rare on-topic posts

 We already have a sentiment indicator:  Rosewater Foundation  
He's more colourful, more accurate and much easier to read.

[d_eddie]

For what it is worth, here is the current chart I use for trading.  Current strategy is to attempt to open shorts at the orange down trend line.  The price at the moment has remained too low beneath the orange trendline so currently have no trades open (short from 28 September has been closed).  Support and resistance is too tightly packed for me to gain an acceptable risk/return on longs.  However a long position from $5,900 would be appealing.  

https://www.tradingview.com/chart/BTCUSD/xAc2kWDL-Bitcoin-USD-Downtrend-state-support-and-resistance-analysis/

What I'm doing now is I closed my shorts too and I'm left with a long btc position, suffering a bit. However, liquidation would be under 2k, so my play money is safe for the moment. I may decide to take a hit if we go under 4k, but I'd buy physical bitcoin before that.

On the sidelines, I opened and closed a few gambling shorts on BCH. The last has just been closed. I'll reopen if its head peeks above 0.083 btc again. Which might not happen in the near future. Or it could, depending on IPO proceedings or Jihan's needs. At any rate, I have to thank the bcashies for the feeble pump. Do it again please! Can you take it above 0.1 for a while? Thank you.

[d_eddie]

Do people like these sentiment updates or are they dumb?

I like these sentiment updates, we need these rare on-topic posts

 We already have a sentiment indicator:  Rosewater Foundation  
He's more colourful, more accurate and much easier to read.

Rosewater is too peaky. I'd like a smoother RW statistic, like RWMA50 or something.

[Rosewater Foundation]

Do people like these sentiment updates or are they dumb?

I like these sentiment updates, we need these rare on-topic posts

 We already have a sentiment indicator:  Rosewater Foundation  
He's more colourful, more accurate and much easier to read.

Alle Menschen werden Brüder
Wo dein sanfter Flügel weilt.

Go das Bitcoin go.

[xhomerx10]

Do people like these sentiment updates or are they dumb?

I like these sentiment updates, we need these rare on-topic posts

 We already have a sentiment indicator:  Rosewater Foundation  
He's more colourful, more accurate and much easier to read.

Alle Menschen werden Brüder
Wo dein sanfter Flügel weilt.

Go das Bitcoin go.

 A beautiful song inspired by beautiful poetry will always lift your spirits

https://youtu.be/XFX8S9aAgvw

 dang, I'm getting chills

[jojo69]

indeed it is, in fact, this coffee could use a little bourbon

[goldkingcoiner]

1d Bollinger Bands tighter than a catholic schoolgirl. But going by the CCI and MACD, we are going to outbreak into a dump. Im guessing to 6k~ish. Can't wait for the buy in again... Ugh. When is Bitcain finally going to go to 7k? The wait is killing moi.