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

[fillippone]

I saw this supposedly bullish chart elsewhere:



Today’s longs are tomorrow’s liquidations!

[NeuroticFish]

How’s everyone doing ?

So we seem to get to normal cycle. This is fine. Just fine...

[ChartBuddy]

Explanation

[HI-TEC99]

How’s everyone doing ?

So we seem to get to normal cycle. This is fine. Just fine...

[philipma1957]

I purchased a bit more..  3 buys for 27 ,26, 25.

I will buy some more over the rest of the dump.

We may go under 22k .

We finally left the boring 28.k to 69.8k range

It lasted from dec 2020 to may 2022

and we really look a lot like 2018.

rising  diff from jan 2018  to oct 2018

falling price from jan 2018 to oct 2018

Some place I posted those 2 charts. Looks to be a repeat of that after all.

To understand why diff rises it is simple a large farm with 8 cent total cost is still in the black even at 26k price for btc

Assume 3.3 not 3.01 so 80kwatts a day say 8 cents  rent ,breakage,power ,labor

that is $6.40 cost a day. 100th is making. 12.23 - 6.40 = 5.83 profit.

which works for a big farm.  this is with 30k price.

at 20k that 100th will do 8.15- 6.40  = 1.75 which is piss poor for a big farm. as they may have paid 7k a unit or more.

If they took a loan and are servicing  debt 💸 it is very likely they go bankrupt.

But you need an extended time at 20k to really crash big farms.

look at current diff it is +3%  which means big farms are grinding away.

https://www.bitrawr.com/difficulty-estimator

Latest Block:   735998  (28 minutes ago)

Current Pace:   103.8034%  (159 / 153.17 expected, 5.83 ahead)

Previous Difficulty:   29794407589312.08                            
Current Difficulty:   31251101365711.12                            
Next Difficulty:   between 31426821229651 and 32448536370230
Next Difficulty Change:   between +0.5623% and +3.8317%
Previous Retarget:   Yesterday at 7:40 PM  (+4.8892%)
Next Retarget (earliest):   May 24, 2022 at 7:22 AM  (in 12d 10h 9m 35s)
Next Retarget (latest):   May 24, 2022 at 5:48 PM  (in 12d 20h 36m 20s)
Projected Epoch Length:   between 13d 11h 41m 19s and 13d 22h 8m 4s

If we are to fully get to a true low based on large farm mining the price needs to be 20k the best news is diff is rising as I type.(+0.08%) It means the big miners are still in the black and are looking to grind this out.

I see  at least 90 nasty days ahead if the low is end is shortened.

and 2 years if we are normal bear.

The good thing is we just got our 285kwatt solar array approved and financing is done it will be working around July 1 so our power bill will be close to $0 .

This will put us in a better spot than a 4 cent power,rent,labor,breakage cost. per kwatt

[somac.]

Blood in the streets people. Time to buy. Yeah the paper losses suck, but they are just that, paper losses. In a couple years they will be paper gains again.

We may drop further down, to the 200WMA for instance, but every time that has happened in the past it has been the perfect entry point. It's at these times that big wealth is made.

On another note I must say it has been a pretty amazing (or devastating) last 24 hours. Attack on Luna (because they deserved it for their stupidity) and, more interestingly, an attack on Tether. The Tether attack is definitely an attempt to crash everything IMO. The FUD against Tether has been ongoing for years and my guess is the attackers were hoping to capitalise on that. Seems to have failed, but may not be over yet.

[ChartBuddy]

Explanation

[LFC_Bitcoin]

Birthday this weekend, who likes my cake

[OutOfMemory]

what up?
I was busy again, in fact i am still.
Any new mindrust contender(s), yet?

I don't even had the time to buy corn yet 
I hope it's not mooning again in the evening 

[BitcoinBunny]

Birthday this weekend, who likes my cake

Amazing.

Happy Birthday!

[Apocollapse]

Birthday this weekend, who likes my cake

Chocolate is my favorite
Hope you always happy and healthy where ever you are.

I only remember May 22 is a Bitcoin pizza day, now I should remember May 12 is LFC_Bitcoin birthday

[somac.]

Birthday this weekend, who likes my cake

Happy birthday indeed, but I have a question did you get all your bitcoin back in this dump? If so, I'd say you got a pretty good birthday present to go along with the cake.

[ChartBuddy]

Explanation

[psycodad]

<snip>

I don't even had the time to buy corn yet 
I hope it's not mooning again in the evening 

^ Wouldn't worry too much about that rn

I kinda panicked and bought [fiat] on the way down (which was fine, as I needed some of that CHF shitcoin for real life expenses and I was sure it will be rather lower than higher on my due date). My problem is that I couldn't resist to BTFD and I bought back more around the local bottom today so I now have a ~15% more BTC but still almost no shitcurrencycoin for upcoming bills).

In the end I'll probably be selling mid-twenties to cover my invoices and will get less shitcurrency than just sticking with my fiat purchases in the mid-thirties. Then again, I DGAF!

Currently ~10x of my avg buying price, but still sucks (actually it always sucks to buy fiat). My problem is that I am really fast buying corn, but I have a very hard time to let go of them when the time would be right.

Anybody in for a Ramen group order (I reckon we can get it a bit cheaper buying a large quantity together...)?
Otherwise that's fine too, I can often take home some half-eaten hamburgers and sometimes I get some fries too that some fat kiddo dropped on the floor (5second rule applied). On a good day the half hamburgers I can take home have the cucumber already eaten away by the customer, these are bright days for this HODLer.

I guess now would be a good time to go into hibernation until 2024, I have a certain feeling were done for this cycle with uppity.

[LFC_Bitcoin]

Birthday this weekend, who likes my cake

Happy birthday indeed, but I have a question did you get all your bitcoin back in this dump? If so, I'd say you got a pretty good birthday present to go along with the cake.

I have bought a significant amount back. Still have dry powder left for lower

[cAPSLOCK]

Birthday this weekend, who likes my cake


[img with=200]https://i.ibb.co/7YpQX1W/92-C83-C9-F-50-D4-4494-B0-FC-F6-D2-BF6378-A0.jpg[/img]

Happy Birthday sir!  Nice cake!  Don't know how you cut that thing!

[ChartBuddy]

Explanation

[cAPSLOCK]

Purchase made.

Last time I bought something this big was March 2020.  

More USD, but got Less BTC.

I suppose it will generally be that way over time!

[eddie13]

This Death_Wish guy reminds me of someone..

Oh well.. Maybe it’s nothing..

[Torque]

This is my new favorite quote now. "Your size is not size."

Ranks right up there with "Fuck your mother if you want fuck."

Hilarious.