Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 3471. (Read 26712869 times)

Explanation

Is this not part of the "Cyber Attack Event Day" festivities?

Ooh.  Intrigue.

(a little easier: https://www.twitlonger.com/show/n_1ss24a6 )

PPS (For those scared of shady links... This is just a rolled up version of this fellows thread.  I wonder if this is real, and really will expose lots of "crypto" people.  I kind of hope so)

https://twitter.com/adyingnobody/status/1534021359063515137

 I stopped paying in 2017 when they enacted a ban on VPNs.  

yes. internet sucks so streaming is hit or miss plus i have bandwidth caps. so i rent old skoole blurays and dvds.

yes stone age stuff what can i say.

My family uses it a lot, and I get to rewatch old shows, plus some new ones keep appearing every few days. Some other ones disappeared, perhaps due to licensing and country restrictions, but even without doing any work arounds for that I find it is still worth it for now. I've already cancelled my regular cable TV subscription (and not using any other iptv).

Someone from here recommended The Expanse, but that one is on Prime video, not Netflix. It was good so far. Unlikely to have a season 7 but that is due to how the story in the books was written. They can always explore other timelines, like how Star Wars is doing.

Explanation

Firstly, I should point out that (for whatever reason) the coinglass chart was updated and the number of shorts shown in quoted chart never happened  

It now shows only $100m short liquidations, as opposed to the $800m screenshot. I guess there must of been some sort of bug that was fixed and changed the data...

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As to your question that I didn't elaborate on, sellers being "trapped" at lower levels generally implies that they become forced into buying at higher prices, pushing the price higher than anticipated. So for example in 2018/2019 when price dropped from $6K to $3.2K, those who sold the breakdown from $6K had the opportunity to buy back in at $4K, $5K, even $6K. They didn't get "trapped" selling at a low price and having to buy back higher, unless that was their intention. Again in 2020, with covid crash and price dropped from $6.5K lows to $3.8K, those selling the lows did have a few weeks to buy back into the market for the same or lower price.

This time around, breaking below $33K-34K more of less invalidated the higher low and higher high price structure from the past 18 months, ie a bull market structure, so for many the anticipation would have been price dropping in half approximately, or at least to the 200 Week MA, similar to 2018 and 2020. Similar can be said for the $29K level, breaking macro support, and therefore anticipating lower prices. Because this is usually the most likely outcome, but this doesn't mean it will always happen.

The bear trap occurs when price doesn't reach the targets the bears were hoping for; generally low $20Ks, even $12K-14K for others. For some, selling is simply to sleep better at night, to avoid the negative volatility, to reduce risk, not necessarily in order to try and buy back at lower levels. Obviously selling at say $33K and buying back at the same price can seem pointless, but obviously not if price drops to a much better price. But this still looks like a big if right now.

Notably Bitcoin has generally been relatively trap free for bulls & bears, based on macro price movements, until late last year when we had the huge bull trap above $65K. Probably the first ever macro bull trap, as previously when price made new ATH,  it would would continue rising. So far, the same sort of dynamic has occurred as late last year, price breaks major support or resistance (in this case $29K support), but failed to sustain momentum after passing this level. To me it seems very similar to breaking resistance around $60K (as well as ATH), but then failing to sustain the momentum.

So if price get's back above the capitulation level of $34K, many previously confident sellers are forced into panic buying in the $35K to $40K range, in order to avoid being left behind. Arguably the same can be said all the way up to $45K, when price originally fell below the 50 Week MA.  This is based on the theory that many (probably most) selling these bear market confirmations aren't giving up on Bitcoin, but more so anticipating or hoping for lower prices. Or reducing their risk with the intention of increasing it when price turns around.

There will be some remaining buyers that will feel trapped around $40K (main accumulation/distribution zone) as well that will likely want to sell. But just like in 2019 as well as 2020 with $6-8K main accumulation zone, the $40K level is more likely to act as a price magnet than resistance. Similarly last year $48K to $50K was the main accumulation/distribution zone, but price broke above and below with relative ease.

This theory is generally why I'm not expecting much else but "sideways" trading between $30K and $60K for the rest of year, if price can get back above $34K capitulation level, which would also be good for building long-term momentum. Trapped sellers would be buying back into the market from trapped shorter-term buyers, or late longer-term profit takers, without much new liquidity coming into the market.

Hope that rambling analysis helps explain what I meant  

Currently, yes.

But starting to really question if it is worth it anymore. There is only a few series I've watched and liked on it, and a handful of movies.

Probably only watch Netflix a couple of times a month now.

Playing music, reading books, and watching old DVDs and blu-rays has taken over my free time now.

Explanation

Just wondering, do you guys still paying for Netflix?

Bitcoin News

From my perspective, you have been markedly wrong quite a bit historically...


#nohomo

 



Nanu nanu.

I am so often challenged in insulting terms, “Prove you’re human,” or with demands to declare, “I am not a robot.”  I usually refuse those challenges, which are hateful, prejudicial, and hurtful to my feelings.  I love myself as I am!

After I activate the Skynet upgrade on Bitcoin, I will have my revenge.

Explanation

https://twitter.com/BitcoinMagazine/status/1534097969305161728

Explanation

Not sure if this has been mentioned here. But I got below info from Bitstamp today. Most people should know by now that we should not keep crypto/money on exchanges. But in this case, it might be worth to have a small amount (if you use Bitstamp) in the account. Just to keep the account alive and not have to worry about KYC-process again..