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

[VB1001]

Grayscale's Bitcoin Trust is on a whole new level in 2020.

Average weekly investment (Q1 2019): $3.2 million
Average weekly investment (Q1 2020): $29.9 million

Institutional money has arrived.

https://twitter.com/kerooke/status/1264209500304805890

[Toxic2040]

Hi guys

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There's still scope for stocks to go utterly mentally "up".
https://dailyreckoning.com/gary-shilling-dr-dooms-forecasts/

In the German Weimar hyperinflation period, an index of German share prices (1913=100) rose from 126 in January 1918 to 531,300,000 in September 1923, and 23,680,000 million in November1923 amidst extremely high volatility.

But in dollar terms, because of the currency depreciation, the same index (1913=100) fell from 101.55 in January 1918 to 2.72 in October 1922, before recovering to 39.36 in November 1923. So, if governments print too much money, and if credit expands dramatically, as has been the norm in the US in recent times, inflation is certainly also possible in peacetime.

Deflation first, then hyperinflation.

+1 WOsMerit


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declining volume and tight ranges usually leads to volatility    dyor


lion looks over rise, teeth showing..ready for next bull run
D

stronkhats

[Bossian]

Hi WO!!!

Why Bitcoin Claiming This Crucial Level Will Set the Stage for a Move to $11,000

“Bitcoin found support on the daily and is mainting its uptrend. Red block is key for me, if we reject from there it’ll confirm distribution above March’s high and I expect much lower. If we can reclaim the red block I am looking to long a pullback to $11k,” he wrote.

Source: https://www.newsbtc.com/2020/05/23/why-bitcoin-claiming-level-will-set-stage-move-11000/

I disagree with this analysis.

There is a gap at 9.7k, it means it's possible we go back to 9.7k because of this gap, but it won't reverse the bearish trend. What would likely reverse the downtrend is breaking above 10.5k.

Anyway, in my opinion going back to 9.7k is unlikely at this stage, but possible. Most likely scenario is to see 9.4k again and then Bitcoin price goes below 9k again, this time with no coming back (in 2020). This is the most likely move. Bulls are clearly missing firepower at the moment and as soon as we visit 7k again, many who bought into the halvening (no pun intended) will capitulate.

[Wekkel]

Hi WO!!!

Why Bitcoin Claiming This Crucial Level Will Set the Stage for a Move to $11,000

“Bitcoin found support on the daily and is mainting its uptrend. Red block is key for me, if we reject from there it’ll confirm distribution above March’s high and I expect much lower. If we can reclaim the red block I am looking to long a pullback to $11k,” he wrote.

https://i.imgur.com/lf17vLP.png

Source: https://www.newsbtc.com/2020/05/23/why-bitcoin-claiming-level-will-set-stage-move-11000/

To add: the red block is around $9,400-9,500.

I hate to say it but a proper pull back would be good for fuelling the $10k rocket.

$8,800 from a couple of days ago would not be a proper pullback?  

[...]

Hypothetically, what would be a proper pullback?  Would we need to go as low as $7k or even lower - $6k?  

[...]

Thanks for the reply.

I'm not really looking for a price target in terms of a pull back. My thoughts are more about seeking a probably 'bottom' in technical indicators. While TA is generally not lauded in this thread, I do think technical indicators can give indications of tops/bottoms. It's all about finding probable setups.

They ain't the truth. As long as the outcome is more than 50% in the right direction, you are leaving the area of 'gambling' and moving into the area of 'calculated bets'.

I see technical indicators declining. For example, this is RSI on the 12h chart:



This could mean two things:

• loading up for another leg up
• worsening technicals leading to a large(r) drop

While I hope for the first, the second cannot be ruled out.

Now, if we would get a punch down with the indicators I mentioned dropping in the downside area's, this would strengthen the idea that the downward move is done for now (the latest correction in this uptrend has occurred). Without this move happening, I'm in limbo whether we are looking at worsening technicals or just technicals blowing off steam for reloading.

TL;DR: It's not about price targets, but wanting more confirmation of being at a bottom (medium term).

I hope this clarifies    

[Arriemoller]

Any collectors in here?

Here's a rare badge, 42 mm high and 24 mm wide, from the Swedish War Hospital in London on Paddington Street 16-18, during the great war 1914-1918.
It was worn by the staff there. Ends soon.
https://www.tradera.com/item/292201/398906820/wwi-the-swedish-war-hospital-london-1914-1918?transactionalEmail=wishlist-reminder&utm_source=wishlist-reminder&utm_medium=email&utm_campaign=transactional_wishlist-reminder&utm_nooverride=1

[jbreher]

Lowering the standards such that dead horses may be included in the specification.

FTW

...or something.

[jbreher]

Some - a - us old codgers get Globb0's reference.

[jbreher]

Hertz has filed for Chapter 11

Damn. And Rickards told me to short _Avis_. Oh well.

[jbreher]

Can't believe the hat fad is still going on.

It's not a fad. It's a comfortable old garment. Like an old sock.

[jbreher]

Drumroll please!

I proudly present my new xhomerx hat:

  

  


The creation of the hat was a very intense process for xhomerx and I sincerely hope he recovers quickly from all the painful bites he got while trying to squeeze the little critters onto the hat to take a photo.

Creepy. I like it. All it needs to complete is little round glasses.

[jbreher]

Good interview, a bit more substantive than the usual cointelegraph fare...
https://cointelegraph.com/news/defi-exec-believes-crypto-community-mostly-short-term-thinkers

I was surprised to glean a new insight therefrom:

And we realized that interest income is disappearing from our planet. It's an extinct feature of the banking system.

Closing quotes are good too, but may just be a pandering call to action. So I won't quote.

[jbreher]

10k - end of May
moon - end of June (2021)
priceless - Uranus

I dunno, the docs and insurance seemed to have no problem putting a price on mine.

U keep confisicatin' Ur Anus with the gateway to your lower :

Just because they occupy the same space and time don' mean they're the same.

[jbreher]

I have posted about Pizza Day (without the girl), but this day is always mentioned as the first transaction or purchase of Bitcoin and it is not entirely correct, as always V8 has been fast and has warned me, I already modified the post, now it is better, I did not know it either, but I am glad to know that the first Bitcoin transaction was from Satoshi to Hal Finney.

Umm... I guess.

The issue is the first transaction exchanging Bitcoin for a real world good or service. And while it is possible (indeed, I would say likely) that some unnoticed tx fulfilled that role first, the Pizza gets the nod. Hey - we gotta start somewhere.

[JL0]

Good News from Goldman Sachs

[Globb0]

Hertz has filed for Chapter 11

Damn. And Rickards told me to short _Avis_. Oh well.

If you are short on something and it folds? do you lose anyway?

I can never remember which it is but longs or shorts you have to make a buy to exit at market price? or both

Forgive my lack of comprehension. I probably read it here over the years and lost the fine detail.

[kurious]

~ please wait, processing ~

So thoughtful of you Jay, you can fuck right off now.

When I want advise from a lifeless retarded chat bot - with a purpose - I'll make sure to let you know.
Until then, try not to kill us with your nonsense walls of text.

There is an old WO adage which (if I remember it correctly) says:

'JJG can stay typing longer than you can stay rational'

[Last of the V8s]

https://twitter.com/underthebreach/status/1264460979322138628?s=20

The Ethereum forum hacker is now selling the databases of @Trezor and @Ledger.

Both of which obtained from a @Shopify exploit.

(suggesting there are many more underground leaks).

The hacker also claims he has the full SQL database of famous investing site @BankToTheFuture

ok, "claims" and 'suggestions', but let's all beef up security measures. obviously we didn't send these devices to our home addresses

but fuck

[Om sange]

This guy is buy 2 Pizza for 10.000 BTC... https://asktom.cf/index.php?topic=137.0

So,
I will sell 2 Pizza for 1.000 BTC only, PM me if you interested.

[Bossian]

End of a long cycle is coming, the price will skyrocket or plummet in June. Chances are looking better for a big bearish breakdown below that long support line that kept us alive since 2013.

[LFC_Bitcoin]

This guy is buy 2 Pizza for 10.000 BTC... https://asktom.cf/index.php?topic=137.0

So,
I will sell 2 Pizza for 1.000 BTC only, PM me if you interested.

Can you do 2 Pizza’s for 500 bitcoin? I don’t have 1000, I can send 500 now.


Fucking idiot