BTC $22K
https://twitter.com/moheganbtc/status/1616535644834070549
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 2482. (Read 26711086 times)
January 20, 2023, 03:51:53 PM
January 20, 2023, 03:50:15 PM
Are we Bulls again?
Short-term I'm not convinced this bounce will create a new high. Closing the day above $21.3K could change my mind though, as this would be above the previous highest close of November. Likewise closing the week above $20.9K would also achieve this same affect as this was previous highest weekly close. At least now after some consolidation there's room for the Daily RSI to return to 90 in the $22K-$23K range it seems.
For the immediate term I'm back to being neutral while price consolidates between $20.5K and $21.5K. I think that's the sensible/conservative approach for the moment. Still only looking for a(nother) short-term short position though while price remains overbought, but clearly not while price is moving back to the upside. Correction to around $19.5K before further upside would be healthiest scenario imo.
So... I'm guessing converting $22k resistance into support and closing around $22.3k would also be an "optimistic" sign in your view?
Personally I don't see $22K as resistance, maybe more like $22.8K which was the September high, but not convinced that would hold back price either. I only really see 90 RSI as "temporary" resistance level for overbought levels for now, but currently we're at 85 so have further to go than expected. Everything above $21.5K looks bullish to me for now, as this would create new high closes on Daily/Weekly time-frames.
January 20, 2023, 03:42:43 PM
January 20, 2023, 03:40:52 PM
$22k done.
What’s next?
What’s next?
January 20, 2023, 03:22:29 PM
Are we Bulls again?
Short-term I'm not convinced this bounce will create a new high. Closing the day above $21.3K could change my mind though, as this would be above the previous highest close of November. Likewise closing the week above $20.9K would also achieve this same affect as this was previous highest weekly close. At least now after some consolidation there's room for the Daily RSI to return to 90 in the $22K-$23K range it seems.
For the immediate term I'm back to being neutral while price consolidates between $20.5K and $21.5K. I think that's the sensible/conservative approach for the moment. Still only looking for a(nother) short-term short position though while price remains overbought, but clearly not while price is moving back to the upside. Correction to around $19.5K before further upside would be healthiest scenario imo.
So... I'm guessing converting $22k resistance into support and closing around $22.3k would also be an "optimistic" sign in your view?
January 20, 2023, 03:19:12 PM
January 20, 2023, 03:08:48 PM
UP IT TEE
January 20, 2023, 03:06:57 PM
context:
January 20, 2023, 03:01:18 PM
January 20, 2023, 02:31:06 PM
Car drove into barricade outside Bankman-Fried's home, lawyers say
Quote
lawyers for the 30-year-old onetime billionaire said three men got out of the car and told a security officer guarding the Palo Alto home, "You won't be able to keep us out."
January 20, 2023, 02:01:17 PM
January 20, 2023, 01:49:56 PM
Ain’t it strange that the price is not falling despite the Genesis news?
Not really... The problem is that Genesis doesn't have the BTC to meet their deposit obligations. That means they need more BTC and don't have enough. I don't think this will result in a large amount of BTC hitting the market. Actually, it will probably result in more BTC being taken off the market as those who depended on Genesis to hold their customer deposits will now have to go purchase BTC on the open market to meet their obligations with their depositors. It's like a game of musical chairs and you don't want to be the guy left with no BTC when the music stops. A lot of entities that relied on income from Genesis for their operations are now left scrambling to make their customers whole, which means there will be more failures without the price dropping.
The real question is, do you own any BTC or do you think you do?
January 20, 2023, 01:49:07 PM
Are we Bulls again?
Short-term I'm not convinced this bounce will create a new high. Closing the day above $21.3K could change my mind though, as this would be above the previous highest close of November. Likewise closing the week above $20.9K would also achieve this same affect as this was previous highest weekly close. At least now after some consolidation there's room for the Daily RSI to return to 90 in the $22K-$23K range it seems.
For the immediate term I'm back to being neutral while price consolidates between $20.5K and $21.5K. I think that's the sensible/conservative approach for the moment. Still only looking for a(nother) short-term short position though while price remains overbought, but clearly not while price is moving back to the upside. Correction to around $19.5K before further upside would be healthiest scenario imo.
January 20, 2023, 01:44:44 PM
Ain’t it strange that the price is not falling despite the Genesis news?
Maybe this has something to do with it.
https://www.bbc.com/news/technology-64338010
Quote
Bankrupt crypto exchange FTX's new chief executive, John Ray, is looking into the possibility of reviving the platform.
He told the Wall Street Journal (WSJ) that he has set up a taskforce to explore restarting FTX.com to "recover more value" for people who lost money.
He told the Wall Street Journal (WSJ) that he has set up a taskforce to explore restarting FTX.com to "recover more value" for people who lost money.
Quote
Mr Ray is exploring the idea of resurrecting the platform instead of simply liquidating assets or selling the platform, according to the WSJ report.
https://finance.yahoo.com/news/lithosphere-litho-blockchain-developer-plans-060000354.html
Quote
Seattle, Washington--(Newsfile Corp. - January 19, 2023) - Lithosphere blockchain core developer KaJ Labs is willing to help Digital Currency Group (DCG) with its insolvency issues by extending a credit facility of $830 million.
The food can become shit but shit can't become food.
I beg to differ.
Have you tried eating at McDonald's?
January 20, 2023, 01:38:54 PM
Are we Bulls again?
always...long term
TMI, bro...haha
January 20, 2023, 01:36:56 PM
Are we Bulls again?
always...long term
TMI, bro...haha
January 20, 2023, 01:36:27 PM
January 20, 2023, 01:31:51 PM
Are we Bulls again?
January 20, 2023, 01:29:05 PM
I've got a feeling demand for these are going to be epic
Last year was the year to short bitcoin, crypto, and damn near anything else. A killing was made by WS doing that (Thanks, Fed).
This year? Probably not so much. Probably suicidal.
Markets will pump on mass layoffs news, every single time.
January 20, 2023, 01:24:20 PM
Ain’t it strange that the price is not falling despite the Genesis news?
Maybe this has something to do with it.
https://www.bbc.com/news/technology-64338010
Quote
Bankrupt crypto exchange FTX's new chief executive, John Ray, is looking into the possibility of reviving the platform.
He told the Wall Street Journal (WSJ) that he has set up a taskforce to explore restarting FTX.com to "recover more value" for people who lost money.
He told the Wall Street Journal (WSJ) that he has set up a taskforce to explore restarting FTX.com to "recover more value" for people who lost money.
Quote
Mr Ray is exploring the idea of resurrecting the platform instead of simply liquidating assets or selling the platform, according to the WSJ report.
https://finance.yahoo.com/news/lithosphere-litho-blockchain-developer-plans-060000354.html
Quote
Seattle, Washington--(Newsfile Corp. - January 19, 2023) - Lithosphere blockchain core developer KaJ Labs is willing to help Digital Currency Group (DCG) with its insolvency issues by extending a credit facility of $830 million.
The food can become shit but shit can't become food.
It seems that almost no lending company left standing apart from small Nexo (so far) and maybe Galaxy Digital, which shriveled, but not died.
.....
Abra is still running as well. However I just checked and they don't seem offer lending anymore, only loans...
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