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

[vroom]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

[somac.]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

I wouldn't be surprised if we get a bounce. But this dip is not a bitcoin dip, everymarket out there is dipping, this is a global thing. And when the fear of Covid disaster is over, everything will pump again. That may be 6 hours, because it shouldn't take everyone too long to realise that this is just a big scare campaign, or if it's the real deal, that governments and central banks will print print print again and again.

[ChartBuddy]

Explanation

[dragonvslinux]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

I wouldn't be surprised if we get a bounce. But this dip is not a bitcoin dip, everymarket out there is dipping, this is a global thing.

Why is S&P currently up today and breaking above above recent accumulation/distribution zone then? Maybe this is just BTC futures related as vroom suggests, and nothing to do with new covid variant.

And when the fear of Covid disaster is over, everything will pump again.

Indeed the "covid dumps" are only ever temporary before the longer-term trend continues, this much has always been clear in the past. Good dip buying opportunity for the long-term it seems.

That may be 6 hours, because it shouldn't take everyone too long to realise that this is just a big scare campaign, or if it's the real deal, that governments and central banks will print print print again and again.

In fairness, if the dip is covid related (not convinced), it could easily continue for days/weeks longer. This is only Day 1 of new variant panic/fud announcement, with some travel restrictions applied so far. No doubt if the variant is as dangerous or wide-spreading as scientists are claiming, and spreads to more countries and continents, within a week or so the effects could be a lot worse than present.

This doesn't mean lower prices, so much as a longer time for price to consolidate before moving higher. Either way, price consolidation is healthy right now.

The current price action is otherwise exactly as I suspected, regardless of virus theories: consolidation or further downside as opposed to immediate upside:

I'll be the contrarian to other uber-bulls here and agree that currently price is having a dead cat bounce on the 4hr chart, nothing else has confirmed otherwise other than doses of hopium.
A death cross was confirmed yesterday (as circled) while previously price was perfectly rejected by the VPVR point of control. For sure, so far it's only a DCB.

Now the $56.5K level has been broken (as well as 50 Day MA), price can certainly go lower, even if not necessarily by much more, as it becomes the path of least resistance in the short-term now.

[naim027]

I welcome another market drop caused by covid. Last time this happened you could scoop up btc at around $3500, if you hodl it at current rates you're up what.. 1600% ish? Bring it on 

Related?

[somac.]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

I wouldn't be surprised if we get a bounce. But this dip is not a bitcoin dip, everymarket out there is dipping, this is a global thing.

Why is S&P currently up today and breaking above above recent accumulation/distribution zone then? Maybe this is just BTC futures related as vroom suggests, and nothing to do with new covid variant.

Here's the S&P500 1hour futures chart, the S&P500 itself is not open price has fallen




Your chart appears to be last close.

Some more futures

[Syke]

Related?

https://i.imgur.com/BMh1pTs.jpg

I may regret this, but yeah, +1 merit. On topic.

[BitcoinBunny]

Fuck China
Fuck Lockdowns
And Fuck Joe Biden

[dragonvslinux]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

I wouldn't be surprised if we get a bounce. But this dip is not a bitcoin dip, everymarket out there is dipping, this is a global thing.

Why is S&P currently up today and breaking above above recent accumulation/distribution zone then? Maybe this is just BTC futures related as vroom suggests, and nothing to do with new covid variant.

Here's the S&P500 1hour futures chart, the S&P500 itself is not open price has fallen




Your chart appears to be last close.

Some more futures

Oh fair, my bad. I hadn't noticed that market wasn't open and up to date. I see the drop now! +1

[OutOfMemory]

Fuck China
Fuck Lockdowns
And Fuck Joe Biden

You forgot the rusty pipes and all...

Other than that, the only thing you can do is accept what you can't change.

[bct_ail]

Nha, countries tightens borders and suspending flights to and from South-Africa and cosing border for travelers.

Since when does Bitcoin care about closed borders?

[naim027]

Fuck China
Fuck Lockdowns
And Fuck Joe Biden

Fuck Biden

[ChartBuddy]

Explanation

[somac.]

Coins are being moved to the exchanges today. Still down a lot this week but, 12.5k.



https://www.viewbase.com/coin/bitcoin

[goldkingcoiner]

https://twitter.com/noComply1984/status/1464153062419931136


This is it!

Edit:

The new variant scare is what is driving the dump. Going by the last corona dump, I would say this one will be a short term flash crash also.

[dragonvslinux]

Price currently at the 0.618 fib retracement level from Summer low to new ATH. Don't be surprised to see a "coincidental" bounce from here from "the middle of nowhere".



Currently not ruling out $50K-53K support being tested, nor the 200 Day MA around $46K, that also line up with the 50 Week MA support trend-line, but it's also not necessary.
For reference sake, the 0.618 retracement level is considered the "golden buy zone" based on expected retracement level (correction) from bullish rallies.
Naturally, closing a Daily candle below this level would likely confirm further downside towards stronger support, but the day is currently far from over...

[somac.]

Price currently at the 0.618 fib retracement level from Summer low to new ATH. Don't be surprised to see a "coincidental" bounce from here from "the middle of nowhere".



Currently not ruling out $50K-53K support being tested, nor the 200 Day MA around $46K, that also line up with the 50 Week MA support trend-line, but it's also not necessary.
For reference sake, the 0.618 retracement level is considered the "golden buy zone" based on expected retracement level (correction) from bullish rallies.
Naturally, closing a Daily candle below this level would likely confirm further downside towards stronger support, but the day is currently far from over...

This drop just seems silly to me. Market players should be seeing this for what it is either a big buy because printers are going to go brrr again, or this covid mutation is like the last 10,000 and is meaningless. My thoughts are that the upcoming US trading hours will see things this way. The technical picture you paint seems promising and the on-chain is still good (or was yesterday at least). Though according to link above that I posted there are now 4k coins that have shifted to the exchanges in the last 1 day.

[ChartBuddy]

Explanation

[Farmer Bill]

Good morning everyone. (afternoon, night depending)

Reaching for coffee and acetaminophen.

Black Friday sale now on. Red Candle Deals all day, must end 4pm UTC.

BillyNoCoiner wait no longer now is your chance.

I've got the huge sum of $390 sitting at the Exchange, might as well buy some MyNeighbourAlice.

Just joking, satoshis for me.

 

[BitcoinBunny]

Fuck it.

Bought some more.