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

[ChartBuddy]

Explanation

[NotATether]

Expect price reversal from $31k.

Weekly RSI it is not yet at 2020 Covid crash level, it is possible.

This dip is part of a wider collapse in the stock market as a result of cold feet after people started thinking the Fed Reserve is going to raise interest rates this year to curb the rampaging (LOL) inflation.

I hear that things became 7% more expensive last year than they were in 2020.

[ChartBuddy]

Explanation

[UnDerDoG81]

RIP 35k  This slowly bleeding is what is painful. I wish there was a hard dump down to 29.5k and then some kind of relief.

[bitcoinPsycho]

Someone pass me a parachute

[greensheep]

We are all going to DIE!!!
Well not now - mentally already dead- physically soonish 

[OgNasty]

We are all going to DIE!!!
Well not now - mentally already dead- physically soonish 

I sure hope this marks the bottom! Things are getting a little wild in the short term. When people start screaming we’re all going to die that has got to be a buy signal. Lol

Apparently $34K is the we’re all going to die level. I hope it holds.

Don’t fret too much. It’s just numbers on a screen after all.

[dragonvslinux]

Bottoms up? Old 12 month+ volume point of control to the rescue imo. It's nice to be able to feel bullish again now that $40K has been wiped out  



Not convinced we're gonna spend multiple months below $40K as we've already done this before. Plus if we do, more likely $30K will break imo.
More than anything, just glad we got out the $40K to $46K no mans land. That was a complete waste of everyone's time  



Also, maybe it's just me, but on smaller time-frames can see some obvious laddering of positions happening here; $38.5K, $36K and $34K.
The sort of quiet accumulation of averaging into the buyz one... bears about to get rekt... 50% discount short lived for now.

[greensheep]

We are all going to DIE!!!
Well not now - mentally already dead- physically soonish  

I sure hope this marks the bottom! Things are getting a little wild in the short term. When people start screaming we’re all going to die that has got to be a buy signal. Lol

Apparently $34K is the we’re all going to die level. I hope it holds.

Don’t fret too much. It’s just numbers on a screen after all.

Just playing a bit ;-)
But seriously, this a a nasty drop, brutal...!! No decent bounce in nearly 3 months and no sign of bounce to be seen - yet?-

Let's see how this evolves... but I guess all bullishness is now evaporated

[LoyceV]

This dip is part of a wider collapse in the stock market as a result of cold feet after people started thinking the Fed Reserve is going to raise interest rates this year to curb the rampaging (LOL) inflation.

What worries interests (pun intended) me much more is that this is only the beginning. Imagine what happens to the stock market if the interest goes back to normal values!

I hear that things became 7% more expensive last year than they were in 2020.

Now how's this looking if you measure in Bitcoin? I count almost 50% inflation in 2 months, didn't people get the memo fiat is at risk of inflation, not Bitcoin?

[Phil_S]

New bottom is 34000

FFS

[fillippone]

This dip is part of a wider collapse in the stock market as a result of cold feet after people started thinking the Fed Reserve is going to raise interest rates this year to curb the rampaging (LOL) inflation.

What worries interests (pun intended) me much more is that this is only the beginning. Imagine what happens to the stock market if the interest goes back to normal values!

I hear that things became 7% more expensive last year than they were in 2020.

Now how's this looking if you measure in Bitcoin? I count almost 50% inflation in 2 months, didn't people get the memo fiat is at risk of inflation, not Bitcoin?

This is the best tweet  I saw in a while, and beautifully explain the correlation between FIAT and bitcoin:




Incidentally, this is the reason I invested in bitcoin a while ago.

[bitebits]

All that is missing is a little sprinkle of EmptyGox news, now really soon perhaps maybe returning corn to their legitimate owners. Soon I guess.

[somac.]

A small pathetic bounce, GTFO. I didn't think we did that anymore.

[somac.]

This dip is part of a wider collapse in the stock market as a result of cold feet after people started thinking the Fed Reserve is going to raise interest rates this year to curb the rampaging (LOL) inflation.

What worries interests (pun intended) me much more is that this is only the beginning. Imagine what happens to the stock market if the interest goes back to normal values!

I hear that things became 7% more expensive last year than they were in 2020.

Now how's this looking if you measure in Bitcoin? I count almost 50% inflation in 2 months, didn't people get the memo fiat is at risk of inflation, not Bitcoin?

This is the best tweet  I saw in a while, and beautifully explain the correlation between FIAT and bitcoin:




Incidentally, this is the reason I invested in bitcoin a while ago.

And it's the reason why I'm never selling.

[ChartBuddy]

Explanation

[strawbs]

Expect price reversal from $31k.

Weekly RSI it is not yet at 2020 Covid crash level, it is possible.

This dip is part of a wider collapse in the stock market as a result of cold feet after people started thinking the Fed Reserve is going to raise interest rates this year to curb the rampaging (LOL) inflation.

I hear that things became 7% more expensive last year than they were in 2020.

Exactly this. Stocks, especially tech, are all massively down and the BTC price is simply an exaggerated reflection of this - due to selling by those who don't understand that BTC is, amongst other things, a hedge against the failings of the current monetary system (especially with regard to supply and inflation).

For these reasons, there's no need to panic, unless you're over-leveraged or have very short-term aspirations. If you're holding BTC for the right reasons, you're timelines will be long-term and four years from now this dip will have been utterly forgotten.

[vapourminer]

$35(ish) k USD. now theres a dip i can get behind.

usually my buys are pretty well set up in advance (ladders, dca) with a small amount of "impulse" buys or sells here and there. but this? NICE! i shuffled some stuff around to free up some fiat and bought a good chunk o cheap corn. and still have some stuff i can dump for more btc if the dip keeps going.

[somac.]

$35(ish) k USD. now theres a dip i can get behind.

usually my buys are pretty well set up in advance (ladders, dca) with a small amount of "impulse" buys or sells here and there. but this? NICE! i shuffled some stuff around to free up some fiat and bought a good chunk o cheap corn. and still have some stuff i can dump for more btc if the dip keeps going.

Which it very well may, but I think it won't be down at these levels for as long as it was in the summer. Various indicators are starting to signal a policy error by the Fed, it won't be long before they start to reverse the jawboning.

[vapourminer]

$35(ish) k USD. now theres a dip i can get behind.

usually my buys are pretty well set up in advance (ladders, dca) with a small amount of "impulse" buys or sells here and there. but this? NICE! i shuffled some stuff around to free up some fiat and bought a good chunk o cheap corn. and still have some stuff i can dump for more btc if the dip keeps going.

Which it very well may, but I think it won't be down at these levels for as long as it was in the summer. Various indicators are starting to signal a policy error by the Fed, it won't be long before they start to reverse the jawboning.

of the newly freed up fiat i spent 75% on a market buy at ~35.3k USD and with the rest i laddered a bit lower. depending on where honey badger wanders off to ill revisit that. if honey badger decides to head south for the winter ill move assets around to free up more fiat for btc if needed.