Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 3345. (Read 26715283 times)
June 24, 2022, 12:01:20 PM
June 24, 2022, 12:00:25 PM
So... this may already be invalidated... but I just noticed this on the 4 hour.
But such low volume going into a weekend... Just a little weak attempt at mild hopium.
But such low volume going into a weekend... Just a little weak attempt at mild hopium.
June 24, 2022, 11:03:35 AM
JUST IN - Number of addresses holding at least 0.1 bitcoin just reached a new ATH of over 3.6 MILLION.
Link:https://twitter.com/BitcoinMagazine/status/1540363028977303553
Link:https://twitter.com/BitcoinMagazine/status/1540363028977303553
June 24, 2022, 10:28:32 AM
HAPPY MIDSUMMER EVERYBODY!!
Fuck! and I'm lying here with another month or 2 before I can walk.
SHIT!
*need another pill
June 24, 2022, 10:23:31 AM
@BTC_Archive
SEC spot #Bitcoin ETF rejection "seems to me to be some element of corruption going on,” says Max Keiser
https://twitter.com/btc_archive/status/1540338944843423745?s=21
@MementoQuamfy
Ser makes sense now?
https://twitter.com/mementoquamfy/status/1540342388278845441?s=21
SEC spot #Bitcoin ETF rejection "seems to me to be some element of corruption going on,” says Max Keiser
https://twitter.com/btc_archive/status/1540338944843423745?s=21
@MementoQuamfy
Ser makes sense now?
https://twitter.com/mementoquamfy/status/1540342388278845441?s=21
June 24, 2022, 10:01:26 AM
June 24, 2022, 09:50:08 AM
At this point I think deflationary stagflation is back on the table for next year.
The Fed will continue to tighten and increase rates as long as the CPI continues to creep north. But unfortunately once public demand destruction is complete, CPI can come down, input costs for corporations can come down, BUT it won't suddenly increase demand again. The Fed could then lower rates and still not see a pick up in demand.
Without a further increase in wages YOY, the Average Joe public will no longer care that prices have come down. It won't change their buying habits (or lack thereof).
The Fed will continue to tighten and increase rates as long as the CPI continues to creep north. But unfortunately once public demand destruction is complete, CPI can come down, input costs for corporations can come down, BUT it won't suddenly increase demand again. The Fed could then lower rates and still not see a pick up in demand.
Without a further increase in wages YOY, the Average Joe public will no longer care that prices have come down. It won't change their buying habits (or lack thereof).
June 24, 2022, 09:44:19 AM
interesting how the majority of the poll voters were right this time..
normally the majority gets predictions wrong. But probably the poll's categories were a bit too bullish, this time
normally the majority gets predictions wrong. But probably the poll's categories were a bit too bullish, this time
so far it was a perfect number to use 18k that is.
Hoping they know something
Even if we make a new low the <18k voters will still be right
But yeah choosing 18k when creating the poll might have been the perfect choice, if we have bottomed already
June 24, 2022, 09:42:31 AM
interesting how the majority of the poll voters were right this time..
normally the majority gets predictions wrong. But probably the poll's categories were a bit too bullish, this time
normally the majority gets predictions wrong. But probably the poll's categories were a bit too bullish, this time
so far it was a perfect number to use 18k that is.
Hoping they know something
June 24, 2022, 09:37:52 AM
This is the short opportunity of a lifetime.
That's proudhon's way of telling you ALL IN!!!
June 24, 2022, 09:35:43 AM
interesting how the majority of the poll voters were right this time..
normally the majority gets predictions wrong. But probably the poll's categories were a bit too bullish
normally the majority gets predictions wrong. But probably the poll's categories were a bit too bullish
June 24, 2022, 09:01:21 AM
June 24, 2022, 08:49:38 AM
This is the short opportunity of a lifetime.
That's proudhon's way of telling you ALL IN!!!
June 24, 2022, 08:12:44 AM
HAPPY MIDSUMMER EVERYBODY!!
After watching the movie by the same name, I'm not sure I could ever have a happy one again!
June 24, 2022, 07:52:46 AM
Some hopium for WO, though starting to think y'all don't need it anymore
For traders of the RSI, the "reliable trade" is to buy when price leaves oversold conditions, as opposed to when price enters oversold conditions (bad idea), as it price can remain oversold for a considerable amount of time (though stop losses for this trade aren't factored in). In this case price entered oversold conditions around $25K down to $17.5K, while breaking out of oversold territory at $21.1K.
Likewise with some bullish sentiment, the Daily MACD is close to a bull-cross. Though not a fan of this indicator as has as many fake-outs as confirmations:
The fact that price is so far away from moving averages should be the more relevant aspect here. For example -50% from the 3 Day 200 MA, similar to previous bear market bottoms, -45% from the 200 Day MA (after falling -55% below it), or falling 60% below the 50 Week MA. This is all very similar to previous bear market (and their bottoms), where price completely detaches itself from it's realistic averages.
I should point out though this Daily bullish hopium doesn't change that the Weekly remains oversold, and without leaving oversold conditions, price can only go lower.
After reaching similar oversold levels to January this year (~20), yesterday Bitcoin closed it's first Daily candle above oversold levels (<30) on the Relative Strength Index (RSI):
In January this led to a 35% increase in price from $35K to $48K in the months to follow, but in May this was only a dead cat bounce from $28K to $32K before further downside. The equivalent rebound in percentage terms, even if price is to go lower, would be $19K to ~$25K. Meanwhile, the Weekly RSI remains considerably oversold after reaching lower levels ever seen and is currently 27.5.
In January this led to a 35% increase in price from $35K to $48K in the months to follow, but in May this was only a dead cat bounce from $28K to $32K before further downside. The equivalent rebound in percentage terms, even if price is to go lower, would be $19K to ~$25K. Meanwhile, the Weekly RSI remains considerably oversold after reaching lower levels ever seen and is currently 27.5.
For traders of the RSI, the "reliable trade" is to buy when price leaves oversold conditions, as opposed to when price enters oversold conditions (bad idea), as it price can remain oversold for a considerable amount of time (though stop losses for this trade aren't factored in). In this case price entered oversold conditions around $25K down to $17.5K, while breaking out of oversold territory at $21.1K.
Likewise with some bullish sentiment, the Daily MACD is close to a bull-cross. Though not a fan of this indicator as has as many fake-outs as confirmations:
The fact that price is so far away from moving averages should be the more relevant aspect here. For example -50% from the 3 Day 200 MA, similar to previous bear market bottoms, -45% from the 200 Day MA (after falling -55% below it), or falling 60% below the 50 Week MA. This is all very similar to previous bear market (and their bottoms), where price completely detaches itself from it's realistic averages.
I should point out though this Daily bullish hopium doesn't change that the Weekly remains oversold, and without leaving oversold conditions, price can only go lower.
June 24, 2022, 07:43:43 AM
UK is falling behind other countries when it comes to Bitcoin and crypto adoption - Former Chancellor of the Exchequer..
Link: https://twitter.com/BTC_Archive/status/1540258567252484096
Link: https://twitter.com/BTC_Archive/status/1540258567252484096
June 24, 2022, 07:27:16 AM
This is the short opportunity of a lifetime.
So what’s the plan? Buy moar!!!
June 24, 2022, 07:23:52 AM
This is the short opportunity of a lifetime.
June 24, 2022, 07:20:31 AM
The bear market is not over yet IMO, but is there a reason to panic? Nah, we are here to party everytime the price drop because this kind of opportunity does not come on a daily basis, believe me, when the bull run comes, these weak hands would say that " I wish I bought a lot when the price dump".
Where's the spirit of "HODL" now?
Me, I'll hold even if bitcoin will tur $1k
You are really a true bitcoin fighter Where's the spirit of "HODL" now?
Me, I'll hold even if bitcoin will tur $1k
The phenomenon that is happening now seems to have drowned those who continue to say "IF BUY or IF HOLD" when bitcoin reaches ATH before, and maybe when the bitcoin price will rise again, they will reappear to the mainland saying: "I wish I had the courage to hold on and enter during the bearish phase of bitcoin".
I think when the price of bitcoin goes up high enough some of us expect the price to come back down to be able to buy, but when the market weakens like it is now I think they start hiding in the corner of the room
. June 24, 2022, 07:17:23 AM
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