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

[ChartBuddy]

Explanation

[dragonvslinux]

In the past day and a half or so, I was starting to develop some contentment with $49k, even though it was mostly ONLY lower $49ks and sometimes bouncing into the upper $48ks and then just in the past few hours causing less contentment by dippening into the lower $48ks which started to make me wonder whether we might not never see $49k ever again..

.. but then alas here we are in the past hour-ish gravitating back into the upper $48ks... so no need to worry about seeing $49k again, right?

Right?

$47K-48K will hold this time around I think, in order to create a higher low on the 4hr. Bears failed to push price below $46K which is a sign of weakness, even if $49K showed lack of buying pressure.



This is now the re-test of long-term spport. Going below $47K again won't be pretty, and likely lead to $40-44K re-test. But for now long-term support remains in tact, just further confirmation is needed. The order books are looking more balanced now, so at current prices it seems relatively neutral, as opposed to at $46K when there were 2x more buy orders than sell orders. I'd expect the buy orders to outweigh the sell orders again if price get's back down to the 200 Day MA, so without a(nother) high volume sell-off, I don't really see any reason why we'll see lower than $45K, where a decent sized buy wall remains.

On another note, haven't seen the strength of the price this high since November 10th, which is a good sign, as has made a higher high since the sell-off. The bullish divergence is still playing out nicely for now:



Either way, within 8 days it'll all become clear. Either long-term resistance turned support holds and price moves up, or shorter-term resistance holds and price moves further down.

[shahzadafzal]

Speaking of wallets would you take this?

iWallet


https://twitter.com/jsngr/status/1473690538234847246?s=20

[ChartBuddy]

Explanation

[cAPSLOCK]

The problem with that is how are you going to arrange those 24 words into a key?  You CAN... using a little math, but it's not easy for most of us.

You can enter the words into a hardware wallet just like a backup.

Yes!  This is what I do.  I's just so important to emphasize the need to stay away from computers to make the seed.  I still read people talking about using air-gapped laptops and Tails etc.

[cAPSLOCK]

The most important advantage in them is hard to see at first:  Secure XPRV (seed, XPUB etc) generation.  Hardware wallets are the ONLY foolproof way to make a bitcoin seed.  So far there is no other way that is safe, that also is not prohibitively difficult/risky.

I get your point and agree. But what if the hardware wallet has a whole bunch of predefined seeds, and one day are all swiped empty? What if the seed generation turns out to be not truly random?

(using an extended passphrase on top of the seed mostly solves this, and/or multisig)


Printing the BIP-39 words and draw them from a hat can't be messed with and is rather fool proof.

The problem with that is how are you going to arrange those 24 words into a key?  You CAN... using a little math, but it's not easy for most of us.

Most of us would use a computer.  And then we are back to the same issue.

I do something like you say (but with dice, cards, or coinflips) entirely because of the issue with the random number generator, but I use a hardware wallet to make my keys.  *That* is a pretty easy upgrade.

But the moment a computer is involved?  You are back in the hot water...

As I understood it, you generate a seed with external entropy (dice, cards, or coinflips)... 
How do you then compute the checksum within the seed without a computer before putting everything into the HW?

Thanks!

Edit
I just found out that coldcard offers that option. So I guess I have my answer..?

Yeah that's a cool feature on the cold card.  But you can also concatenate the random numbers into a long string and do the lookups via a table...  For me that's about as complicated as I care to get.

I used to have a PDF somewhere... but I just found this Spanish one:
https://estudiobitcoin.com/wp-content/uploads/2020/10/V00-Semilla-de-moneda.pdf

Maybe I am a goober but there is something about calculating the seed mechanically.  And even if you use a binary item, like a coin flip, it's not too hard to put 32 coins in a cup, and shake them out 8 times and write them down.

Somehow good for the soul.  And it makes the calculated addresses shine just a little brighter.

[Gachapin]

The most important advantage in them is hard to see at first:  Secure XPRV (seed, XPUB etc) generation.  Hardware wallets are the ONLY foolproof way to make a bitcoin seed.  So far there is no other way that is safe, that also is not prohibitively difficult/risky.

I get your point and agree. But what if the hardware wallet has a whole bunch of predefined seeds, and one day are all swiped empty? What if the seed generation turns out to be not truly random?

(using an extended passphrase on top of the seed mostly solves this, and/or multisig)


Printing the BIP-39 words and draw them from a hat can't be messed with and is rather fool proof.

The problem with that is how are you going to arrange those 24 words into a key?  You CAN... using a little math, but it's not easy for most of us.

Most of us would use a computer.  And then we are back to the same issue.

I do something like you say (but with dice, cards, or coinflips) entirely because of the issue with the random number generator, but I use a hardware wallet to make my keys.  *That* is a pretty easy upgrade.

But the moment a computer is involved?  You are back in the hot water...

As I understood it, you generate a seed with external entropy (dice, cards, or coinflips)... 
How do you then compute the checksum within the seed without a computer before putting everything into the HW?

Thanks!

Edit
I just found out that coldcard offers that option. So I guess I have my answer..?

Yeah that's a cool feature on the cold card.  But you can also concatenate the random numbers into a long string and do the lookups via a table...  For me that's about as complicated as I care to get.

I used to have a PDF somewhere... but I just found this Spanish one:
https://estudiobitcoin.com/wp-content/uploads/2020/10/V00-Semilla-de-moneda.pdf

Maybe I am a goober but there is something about calculating the seed mechanically.  And even if you use a binary item, like a coin flip, it's not too hard to put 32 coins in a cup, and shake them out 8 times and write them down.

Somehow good for the soul.  And it makes the calculated addresses shine just a little brighter.

I have never done it that way. Will def. try... with soul... Very nice 
Thanks so much for the info!

[ChartBuddy]

Explanation

[shahzadafzal]

So they just realized.

COINBASE: BITCOIN HAS NO MEANINGFUL COMPETITORS.

https://blog.coinbase.com/perspective-bitcoin-is-not-boring-ee62de4d23e7#c53f

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[tertius993]

Just because …

[aysg76]

For all those who says bitcoin is too expensive and they can't buy it and completely ignores as if stacking sats was never possible here is an infographic representation for them.

HOW IS DCA HELPFUL

You have two options :

1) Invest whatever you can through any means you like

2) Give excuses and be shitcoin maximalist that will give you nothing.

Bitcoin is future if you know you know.

[ChartBuddy]

Explanation

[Gachapin]

For all those who says bitcoin is too expensive and they can't buy it and completely ignores as if stacking sats was never possible here is an infographic representation for them.

HOW IS DCA HELPFUL

You have two options :

1) Invest whatever you can through any means you like

2) Give excuses and be shitcoin maximalist that will give you nothing.

Bitcoin is future if you know you know.

Maybe before convincing any noobs, I would put in a time range that makes sense...  it shows 8 days backwards in time....

[LFC_Bitcoin]

@KevinSvenson_
#Bitcoin goes from 69,000 all the way down to 42,000 and the bears are still calling for more downside … you know what they say “pigs get slaughtered“
https://twitter.com/kevinsvenson_/status/1473773340703789061?s=21


@BTC_Archive
Bullish divergence between #Bitcoin  price and illiquid supply ratio.

 This has led to higher prices the last 2 times.
3rd time? 🧐

https://twitter.com/btc_archive/status/1473983443365158931?s=21


@intocryptoverse
This #Bitcoin  dip is just the four-year cycle guys selling.
What happens when they realize the market cycle is not over?
https://twitter.com/intocryptoverse/status/1473862728838266885?s=21


@BTC_Archive
Google searches for #Bitcoin  haven't recovered since the -50% crash in the summer.
#Bitcoin  at 48K and zero hype. 👍🤓

https://twitter.com/btc_archive/status/1473979090281680898?s=21

[ChartBuddy]

Explanation

[eXPHorizon]

https://www.youtube.com/watch?v=khFb4FTJ4Jo

XD XD XD

[cygan]