Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 13045. (Read 26724145 times)

 We already have a sentiment indicator:  Rosewater Foundation  
He's more colourful, more accurate and much easier to read.

 We already have a sentiment indicator:  Rosewater Foundation  
He's more colourful, more accurate and much easier to read.

For what it is worth, here is the current chart I use for trading.  Current strategy is to attempt to open shorts at the orange down trend line.  The price at the moment has remained too low beneath the orange trendline so currently have no trades open (short from 28 September has been closed).  Support and resistance is too tightly packed for me to gain an acceptable risk/return on longs.  However a long position from $5,900 would be appealing.  

https://www.tradingview.com/chart/BTCUSD/xAc2kWDL-Bitcoin-USD-Downtrend-state-support-and-resistance-analysis/

I like these sentiment updates, we need these rare on-topic posts

I was hoping for a price rise

You beat me to it.   I am not sure it works too far way from our little part of the world, but you brightened my day.

For what it is worth, here is the current chart I use for trading.

BTC might initially have had those former uses, but is steadily moving away from its experimental past, and that is a very big positive.

Regulations treating BTC as a mainstream asset, including AML and institutional KYC, are already essential at the fiat interface, but the treatment of transfers in crypto alone are a different question.

On one level, regulations about crypto transfers are defacto recognising it offically as money. That may not be a route that monetary authorities want to go down at present.

In most juristictions, all valuable assets are required to be registered in some way,and that usually is a positve in terms of ownership law and security. If BTC is outside that system it will always have a deficiency in terms of adoption and mainstream recognition.

I would envisage BTC and some other cryptos eventually coming within all of that, with most others remaining in the grey zone ,with the concomitant freedoms and also drawbacks of that status.




Surely the primary facet of cryptos (and the one for which BTC was born) is to provide a parallel monetary store and exchange system, as a refuge from the eventual insolvency of the current fiat regime ?


Over the long term, the free market should decide whether that is a worthy, recognised or necessary function.

pointless and much too big. pl try to match text size to forum text size
your charts are great for size though. bigger the better for those

Still, (I think) Bitcoin was not meant as a way to evade tax or capital controls but to be your own bank by having direct control of your money.

^
with jjg i try my best with english....  
but learning and learning BETTER AND BETTER

THATS what BTC is given me , a better currency, english lessons, computer skills, security skills etc.... haha

( sometimes when i'm @ a friends place and making a post he correct my writing.... ,getting lessons from everybody these days) micgooss is @ learning stages

my GF also always complaining with my english writing, so pffff gotta do my best and improve on that.

As much as I want it to be different, a new moon will take a lot of time to materialise. The grind up to 20k will be long and hard, with tons of resistance levels established by previous run-up. Once we pass 20k, price discovery starts again and we are in uncharted waters.
Right JJG, I share your sentiment about btc adoption and also did not expect previous top to be this much of an overshoot. I'd caution everyone to be rather conservative in setting any sort of timeline for a next run, my experience has learned me this is always further away than one expects, especially after such a massive year for crypto that we had.
Still BTC and perhaps some other alts are terrific buys at this level from a long term perspective thats why I am hodling and accumulating, just as all you smart and fine gents in this thread 

O.k.  Fair enough that moon is a number that would be somewhat individually tailored  - and sometimes, members might need to disclose where that point is for themselves, and sometimes just thinking about "where is moon" can be a psychological well-being point.

Part of the reason that I frequently express so much content, even though we are still bouncing around in a 66.6666% correction arena, is that I had considered $3k to $5k to have been the top of the 2017-2018-ish bubble - meaning the next bubble that was coming after the 2013 ATH of $1,163.  Accordingly, thereafter I had expected the top to have been in the $3-$5k range and then a correction into the $1k to $3k range.  Therefore, it seems to me that there is still a lot of icing on this particular cake, and it kind of already seems, to me, that a variation of moon has already arrived.

All of what I am saying does not mean that I am bearish or that there is froth  in this market, but a peak that goes to $19,666 remains in the approximately 5x area higher than expected and the correction back to $6k-ish remains in an area of about 5x higher than expected - and even with all of that 5x higher than expected, there seems to be plenty of upside potential, still.... because bitcoin continues to be in a very low adoption level - even with a lot of peeps coming into bitcoin, the numbers still remain trickles in comparison to the world population and in comparison to what is possible based on the ongoing good news in bitcoin, in terms of developments and the seeming solidity of the tech (and computing power for that matter - including bitcoin's continued winning of various infighting).

Sure there remains a question about whether alts are coming with on the next journey up, and so that could be the $1,000,000 question about how long any kind of continued correction goes on further or just drags out longer.... let's see, let's see... So even if we are at a kind of moon..., "When next moon?" might be more poignant of a question, perhaps?

Do people like these sentiment updates or are they dumb?