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

[LFC_Bitcoin]

Party popper the Dude got some low buy orders ........... 

$5,810 now, fuck. I guess we’ll see some volatility for a few weeks now. Maybe a bigger pump near the halving.

[Phil_S]

Oh no... not 6400 sideways... not again...

I prefer this to 5400 and dropping...

No shit, Nostradamus...

[Biodom]

An explanation for the dip...reddit talks about nasty rumors (stock market closing) sometime next week.
My take on this-it is a crazy thing to do due to many factors.
Not sure how this would affect bitcoin trading since, technically, it is not a stock market.
Also, what about bonds-you simply cannot close that since it is a source of funding for governments.
On the other hand-how you can justify closing stocks but allowing bonds to trade?

Money market funds-today in US 3mo and 6mo treasury bills are negative (-0.02%, despite FED saying that they should be in 0-0.25% range).
I sincerely hope that they are not going to bust the buck, otherwise people would sell off their money market funds.

Raul Pal's "trade of the centiry" got busted, maybe temporarily (dollar declined 1.8%):
https://www.bloomberg.com/news/articles/2020-03-20/dollar-slides-as-california-lockdown-sparks-u-s-recession-fears

Comment: it was inevitable, it was up 10% in a few days-too much for many countries to handle.

[OutOfMemory]

If i'd be in BTC for the weekly fiat yield, i would have sold at about this time, too.
As we zoom out, we should see a steady, more gradual increase in the future.
This was just a bump because of a pump&dump.

My 2 cents at $5.928

EDIT: TBH, i was thinking about selling a bit, just to buy back shortly after (this dump).
Still, though i am in BTC, i am still quite risk averse  
Plus it would have made me a victim to the tax office (In my case: 1yr holding time, then tax free).

[toknormal]

I'd say trading this market right now is lethal.

Anyone who didn't already make up their mind if they were in or out is just gonna lose more with every trade.

[Biodom]

I'd say trading this market right now is lethal.

Anyone who didn't already make up their mind if they were in or out is just gonna lose more with every trade.

I agree, especially to the extent of establishing or cashing out a largish position.
Nibbling a few sats or a bit more here and there is fine.
That said, if someone bought at 4.0-4.5K and sold at 6.7-6.9K-that was a great trade, not sure if there will be more like these.

In the news: Adaptive Capital (Murad Mahmudov CIO) is closing.
https://cointelegraph.com/news/crypto-hedge-fund-goes-belly-up-after-bitcoin-price-drop-to-38k

[OutOfMemory]

I'd say trading this market right now is lethal.

Anyone who didn't already make up their mind if they were in or out is just gonna lose more with every trade.

I agree, especially to the extent of establishing or cashing out a largish position.
Nibbling a few sats or a bit more here and there is fine.
That said, if someone bought at 4.0-4.5K and sold at 6.7-6.9K-that was a great trade, not sure if there will be more like these.

We'll see, but at this realtively high relative range (delta around 2.2k) it's rather unlikely to happen again anytime soon.

[Raja_MBZ]

Daily chart bearish.
Weekly chart bullish.

Under $6,000 now meh!

Wasn't this a well-expected correction?

[sirazimuth]

If you are bored in your self-isolation, self-quarantine, social distancing or wtf you wanna call it,
go browse the Amazon toilet paper inventory for a chuckle (or not, depending on your situation). Every legit brand is currently unavailable. Oh gee, what a surprise!
There's like one brand, however, with a squiggly line on the package that seems to be available. (like in a month or something ridiculous)
God knows what brand or company.
It's all over the place on the page under different descriptions and quantity and price.
Obviously the same product from same factory.  So outta curiosity, I clicked on it and then the questions and answers link.
Turns out its made in China and one roll has..... wait for it....

170 servings   lol..   (my standard roll has a 1000)

That ought to last all of 4 shits...  
Even less if theres women in the house... or you had a vindaloo the night before.
We are doomed to skid marks and crusty cling-ons  folks...... just like my cats. (but they don't seem to mind...)

[El duderino_]

via Imgflip Meme Generator

[Wekkel]

https://i.imgflip.com/3teo0u.jpg

Great. Finally my new Galaxy gets shipped?

[birr]

Daily chart bearish.
Weekly chart bullish.

Under $6,000 now meh!

Wasn't this a well-expected correction?

All right wise guy, if you expected the drop, tell us about the gains you made trading it.

[marcus_of_augustus]

Whew ... so much more peaceful when the children go to bed.

[OutOfMemory]

Whew ... so much more peaceful when the children go to bed.

Heh, and my post-menstruative wife finally fell asleep too  
Quiet, and all the peaceful time only for relaxed WO backreading.

EDIT: After the first week of curfew the kids finally stopped going wild at each other. I could live like that for months easily now.

EDIT2: Thinking of your posting twice after reading the Slayers hodlsleep announcement... You didn't speak of Lambie, did you?

[LFC_Bitcoin]

All over the place atm.....

[Cryptotourist]

I'm already here.

Hey dude, nice you could make it on the WO, welcome!
Could have waited to incubate a little.

Now I bet you're a regular.
I know this, cos I was ever so tempted to do the same a couple of weeks ago.

Give us a clue then.
Do you haiku?

[Toxic2040]

Good afternoon WO's


After a nice run up to over $7.1k this morning, we have settled back downwards to around $6k on heavy volume. There is some nice volatility out there for those brave enough to venture out into the deep end of the pool. Trade craefully my friends and buy the dips.

Carry on.




4h


D

#stronghands


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Just a few bonus observations today as I am very tired.

Been fighting off a cold for weeks, it finally got so bad I caved in and went to the Doc yesterday. Dont think its covid-19..or if it is...I dont think I am going to die...so far anyways.  Just a deep hacking cough and the sniffles. Deep body aches but no fever to speak of. I usually run a little cold..like under 98f..yesterday I was 98.6f...go figure.



As I am right outside the critical age group and dont have pre-existing conditions that raise my risk factor, the Doctor said isolate..drink plenty of fluids and check in come April. Sounds reasonable to me.


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Tried to observe $7000, but blinked (yeah that's 1m)...

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Head and Shoulders?  

Or

Cup and Handle?

Or

Genie's Lamp?





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Whew ... so much more peaceful when the children go to bed.

+1 WOsMerit


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Talk to you all laterz. Peace.

[JimboToronto]

Bon voyage good riddance, shitcoins.

ftfy

[Cryptotourist]

Whew ... so much more peaceful when the children go to bed.

My, good morning Mr. Lucifer Morningstar.

[marcus_of_augustus]

shits turning feral out there. Just in time food supply chain may have made supermarket barons uber wealthy but the fragility of such a risky approach is now apparent.

The problem is not the virus, even though it is a nasty little bug to contract for many, it is the whole modern way of life. The production, distribution, economic, bureaucratic governance and especially socialistic healthcare systems in the western world are highly vulnerable to the disruption of a global pandemic. No one knows how this ends yet. Not to mention the financial system was on borrowed time due to prolonged malfeasance and mismanagement compounding a demographic anomaly leftover from WWII.

I don't know if we are at the 'blood in streets' point yet. It feels like the civil unrest phase is just beginning. Calls to close the equity markets is a significant milestone though. Institutional panic is almost breaking through to the surface, that is a rare occurence. I think that will happen more and fuel a wider panic in people who hold ultimate faith in institutions, although there is good evidence many of these are now mostly irrelevant, ineffective institutions, failed entities established in a bygone era.

A loss of faith and confidence in the modern way of life is the biggest hurdle psychologically that needs to be surmounted here. After that the denial, anger, grieving and ultimately acceptance of the new paradigm of possibilities and opportunities can begin. I'm optimistic the whole evil ways of the past can collapse and be consumed in a giant inferno and we can move ahead peacefully, but war is an ever present threat.