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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

Buddy is done with sales for a while.

I'll do one BuddyBlocker for you, Phil.  You probably fell asleep, anyhow.  Not Buddy.  You, Phil.

I wonder about Buddy being on a potentially temporary break from bitcoin sales.. fire sales perhaps? There does seem to be support, but yeah we can sometimes start to feel momentum too.. so momentum for down?  is such downity momentum possibly in the cards?

That was a bit of a bounce at right around $114,518 (our current local bottom)... So yeah, a reprieve for now, and it is difficult to know any real reason for such correction, except that bitcoin never goes completely straight up, so frequently there are needs for the breaks in the UPpity, whether for a few days or maybe a few weeks..  

I realized that my buy orders were in the mid $115ks and not in the lower $115ks.. . which either way is o.k. and does not make a lot of difference to me since they are kind of formulaic... and they either fill or not.. so right now next buy order lower $112k, and next sell order is mid $119ks.. and yeah, currently selling almost same dollar value and buying back same dollar value, which largely means a certain portion of extra BTC are accumulated in the process, but a few orders do not make much of a difference, even though 10 orders make more difference.. in the whole scheme of things.. but these days, 10 orders might span over $35k on the way down, yet getting close to spanning over $50k on the way up for 10 sell orders.

It does make a BIGGER difference if the BTC price were to correct like 25% or more, but even that would be a bit of a distraction, since sometimes we will get fairly deep corrections, and they will play out rapidly.  On other occasions, we will get stuck in the downity area for a few weeks or even a couple of months...  

On the way, we may or may not get an interruption of corrections, but yeah, likely the bears would have to get beaten up several times in order to incentivize them to stop placing sell and/or short orders..

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[kanftka]

[WatChe]

Rip

Hulk Hogan


https://en.wikipedia.org/wiki/Hulk_Hogan

RIP

and thanks for all the entertainment and good memories you provided in wrestling.

You will be badly missed.

No more ripping off yellow muscle shirts   

No more Atomic Leg Drop.

#Nostalgic

[nutildah]

AI-generated ass kissing

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

[edited out]

You brought up a lot of ggod points. This dip around 114k definitely looks like a local bottom bounce. But as we've all seen before, Bitcoin doesn't move in a straight line. A bit of sideways and even a deepper retrace wouldnt be shocking. Especially with some people eager to sell in strength. Fire sales? Maybe. But I think the temporary breaks in an upward trend are where the strong hands Step in.

Your strategy with the staggered buys and sells really makes sense as it's a calm and calculated approach in an emotional market.

I don't want to give a wrong impression to newbies, since I don't claim to be trading, and I believe that selling bitcoin to accumulate bitcoin is a wrong move.

Accordingly, I believe that anyone in their first whole cycle of accumulating bitcoin, likely needs to focus on buying no matter what until they get to overaccumulation status.. which could take 4-10 years or longer, unless you are able to front load your bitcoin investment, then you might be able to reach overaccumulation status faster.

Another thing is that i have been selling bitcoin on the way up since about mid to late 2015, yet I kind of screwed up the end of 2015, so maybe I did not really start selling on the way up until later.. but still my intial plan was only to be able to sell up to 10% for every doubling of the BTC price, and surely over the years I sell way less than 10% for every doubling of the price.

I ONLY started to sell BTC because I had calculated that I had gotten to an overaccumulation status, yet my definition of overaccumulation status was different in 2015 as compared to what it is now.

Guys have to figure out for themselves how much BTC they want/need and how much is enough or more than enough, and I really doubt that it is a good idea to sell bitcoin in order to accumulate bitcoin.

You accumulate bitcoin by buying it through DCA, lump sum and/or buying on the dip, and you likely need to buy persistently, consistently, ongoingly and perhaps even aggressively for a whole cycle or more before you might be able to change your style, unless you are able to front load your investment, as I mentioned earlier.

This kind of system-based DCA+laddered-exit plan can quietly gain while everyone else is trying to time tops and bottoms. Even if each individual fill doesn’t make a massive difference, over 10+ cycles it really starts compounding and showing itself.

I consider DCA to be a good way to get into bitcoin, along with supplementing such strategy with lump sum buying and buying on dips.  I don't really consider DCA to be a good way to exit bitcoin, and I don't even consider exiting bitcoin to be a good idea, even though I do believe in sustainable withdrawal that can be either price based and/or time based.  I have a thread on the sustainable withdrawal topic, which also I do not consider to apply unless a guy had first reached overaccumulation status..

And yes, The corrections of 25%+ can shake he tree really hard but like you said its part of the process. Whether we get a V-shape pattern or grind down steady these phases will work to reset leverage and get rid of weak hands.

In the end it's still a game of patience and positioning. The bears might feel bold for a bit but they'll over stay their welcome.

Of course, historically bitcoin has had quite wild and deep correction periods, even during bull cycles, so frequently the bears will shake as many weak hands as they can, and sure at some point, they may weill end up overdoing it, and there are no more weak hands to shake, so they can end up not being able to recuperate whatever sales they had made in order to drive down the prices for as long as they could and as far as they could, and at some point, there just aren't any more sellers, and some bears might end up overdoing it or even shorting during the recovery but the BTC price just continues to recovery and wreck short after short after short.

AI-generated ass kissing

Hm?  That could be.  I already responded, so I will leave my response, as I already wrote it.

[nutildah]

How could you not understand that you're being sucked up to for merits by now by people who have never actually bought bitcoin and never intend on it. You've been doing it for years. Others see you meriting suck-up shitposts, and that encourages them to also suck up to you. Its a vicious cycle. You're basically enabling the next generation of beggars, encouraging them to perfect the art of ass kissing instead of learn anything else whatsoever. Do you have zero introspective ability?

This is the entire reason they are here, is because you merited this post, which was a response to you:

You brought up a great point and I agree...
...
I also liked how you mentioned the importance of flexibility in making decisions.
...

The other stuff they write is just a regurgitation of what you've already written a hundred times. They write it because they know its in alignment with your own beliefs, not because they actually believe it.

[LFC_Bitcoin]

So when do we think the next breakout to the upside is going to happen?
We seem to have been stuck in a tight range of $115,000 to $120,000 for a while, even though it hasn’t been long at all. I must admit, I didn’t enjoy the dump during the last 24 hrs.

I think once we chip away at and eventually pierce the ATH of $123,000 we will run for a while, possibly touching $140,000. Maybe we stay in this range for another 2-3 weeks before we explode upwards.
The only thing that’s certain is nothing is stopping this train from hitting between $150,000 and $200,000 before the end of the year.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

How could you not understand that you're being sucked up to for merits by now by people who have never actually bought bitcoin and never intend on it. You've been doing it for years. Others see you meriting suck-up shitposts, and that encourages them to also suck up to you. Its a vicious cycle. You're basically enabling the next generation of beggars, encouraging them to perfect the art of ass kissing instead of learn anything else whatsoever. Do you have zero introspective ability?

This is the entire reason they are here, is because you merited this post, which was a response to you:

You brought up a great point and I agree...
...
I also liked how you mentioned the importance of flexibility in making decisions.
...

The other stuff they write is just a regurgitation of what you've already written a hundred times. They write it because they know its in alignment with your own beliefs, not because they actually believe it.

I can conclude that JJG likes to being ass-kissed. Who would have thought that our gay dancer avatar is into that stuff...  

But seriously, I think all your points are valid. While JJG is free to spend his merits as he likes, he also gives a lot to beggars and by that is breeding an ever new generation of merit farmers who only write to please him.

I cannot imagine that he hasn't understood that yet. I think he is rather working on increasing the number of active users on this forum, whose design, to be honest, is not too appealing to newcomers... I have actually friends who wouldn't read the WO because of the old design that doesn't work well on smartphones...

[Shawheer Khan]

How could you not understand that you're being sucked up to for merits by now by people who have never actually bought bitcoin and never intend on it. You've been doing it for years. Others see you meriting suck-up shitposts, and that encourages them to also suck up to you. Its a vicious cycle. You're basically enabling the next generation of beggars, encouraging them to perfect the art of ass kissing instead of learn anything else whatsoever. Do you have zero introspective ability?

This is the entire reason they are here, is because you merited this post, which was a response to you:

You brought up a great point and I agree...
...
I also liked how you mentioned the importance of flexibility in making decisions.
...

The other stuff they write is just a regurgitation of what you've already written a hundred times. They write it because they know its in alignment with your own beliefs, not because they actually believe it.

Upgrade your gears fuckass,

[Shawheer Khan]

AI-generated ass kissing

You brought up a lot of ggod points. This dip around 114k definitely looks like a local bottom bounce. But as we've all seen before, Bitcoin doesn't move in a straight line. A bit of sideways and even a deepper retrace wouldnt be shocking. Especially with some people eager to sell in strength. Fire sales? Maybe. But I think the temporary breaks in an upward trend are where the strong hands Step in.

Your strategy with the staggered buys and sells really makes sense as it's a calm and calculated approach in an emotional market. This kind of system-based DCA+laddered-exit plan can quietly gain while everyone else is trying to time tops and bottoms. Even if each individual fill doesn’t make a massive difference, over 10+ cycles it really starts compounding and showing itself.

And yes, The corrections of 25%+ can shake he tree really hard but like you said its part of the process. Whether we get a V-shape pattern or grind down steady these phases will work to reset leverage and get rid of weak hands.

In the end it's still a game of patience and positioning. The bears might feel bold for a bit but they'll over stay their welcome

This post was flagged with ai spammer got deleted by me mistakenly.

[nutildah]

I can conclude that JJG likes to being ass-kissed. Who would have thought that our gay dancer avatar is into that stuff... 

Point taken

I thinks he is more working on increasing the number of active users on this forum, whose design, to be honest, is not be too appealing to newcomers...

You're right, I would like to see the forum attract new users, so long as they have anything at all original or interesting to say. The thing is a lot of these "newcomers" aren't new at all. Their previous accounts got red tagged or banned so they are back with new ones.

I have actually friends who wouldn't read the WO because of the old design that doesn't work well on smartphones...

This is one of the few changes I really think the forum _should_ make -- a mobile-adapted version of the SMF software.

Upgrade your gears fuckass,

You were already outed as an AI spammer 2 weeks ago. You started manually placing typos in your text to avoid detection by the detectors, but its quite obvious you have nothing to contribute here.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Shawheer Khan]

You were already outed as an AI spammer 2 weeks ago. You started manually placing typos in your text to avoid detection by the detectors, but its quite obvious you have nothing to contribute here.

I tried to contribute. But fuck yall.

[Ivystar5]

So when do we think the next breakout to the upside is going to happen?
We seem to have been stuck in a tight range of $115,000 to $120,000 for a while, even though it hasn’t been long at all. I must admit, I didn’t enjoy the dump during the last 24 hrs.

I think once we chip away at and eventually pierce the ATH of $123,000 we will run for a while, possibly touching $140,000. Maybe we stay in this range for another 2-3 weeks before we explode upwards.
The only thing that’s certain is nothing is stopping this train from hitting between $150,000 and $200,000 before the end of the year.

If we are going to see 150k as our top of the year then it's quite early to have another pump because from what I can see with our current 120k bitcoin could do tremendously and 150k will look too small to be achieved however, if 200k is the new target for the year then we hope another pump next Tuesday, maybe we can balance back to 120k from now till Tuesday.

[Tungbulu]

This kind of system-based DCA+laddered-exit plan can quietly gain while everyone else is trying to time tops and bottoms. Even if each individual fill doesn’t make a massive difference, over 10+ cycles it really starts compounding and showing itself.

I consider DCA to be a good way to get into bitcoin, along with supplementing such strategy with lump sum buying and buying on dips.  I don't really consider DCA to be a good way to exit bitcoin, and I don't even consider exiting bitcoin to be a good idea, even though I do believe in sustainable withdrawal that can be either price based and/or time based.  I have a thread on the sustainable withdrawal topic, which also I do not consider to apply unless a guy had first reached overaccumulation status..

Yeah, the DCA strategy IMO is just about the best strategy to employ if your plan is to effortlessly accumulate Bitcoin overtime. And by effortlessly, I don't mean you won't hit a few difficulties along the way, I mean you really don't have to do much if you stick to a consistent DCA. And yeah, supplementing the DCA strategy with lump sum and taking advantage of potential DIPs can really help to optimize one's strategy.
A lot of investors often get it wrong when we recommend buying the dips as a way to optimize one's strategy, rather engaging in consistent accumulation and then taking advantage of potential DIPs (whenever it comes) they make the mistake of WAITING FOR A DIP, which is not only an awful way to approach Bitcoin accumulation but can also result to missing out on potential gains.
I share in your thoughts regarding exiting Bitcoin, the DCA in this case might really not be the best approach. What could be more suitable would be a more tailored strategy such as sustainable withdrawal strategies. And your suggestion about applying the sustainable withdrawal strategy only when one has attained a 'fuck you' status or a state of overaccumulation is spot on because it highlights the importance of prioritizing accumulation and wealth preservation.

You were already outed as an AI spammer 2 weeks ago. You started manually placing typos in your text to avoid detection by the detectors, but its quite obvious you have nothing to contribute here.

I tried to contribute. But fuck yall.

Your response/reaction only proves that you're guilty as charged, a typical AI spammer.

Except you wanna tell us it's a mere coincidence that both @memehunter and @nutildah are wrong about you, or have something against a newbie they have absolutely no history with, which IMO is just hard or should I say impossible to believe.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com