Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 3509. (Read 26713688 times)

At the airport, waiting for my luggage, FFS.

I'd go for option 1. A relief rally to ~$40K levels with good potential for ~$30K levels to hold therefore. Notably once Bitcoin leaves <30 RSI "oversold" levels on Weekly time-frame, it doesn't return thereafter. Even with price often returning to similar closing price levels shortly after (so in this case around $29.5K), price historically has never made a new low after leaving these oversold conditions. For what that's worth.

Either the above or option 3, with a bit more downside in the following weeks to the anticipated 200 Week MA @ $22K. But this seems overly-anticipated right now imo. I otherwise don't think there's any real resistance between $32K and $40K levels. $34K would have been the theoretical resistance, but given it didn't act as support on the most recent way down, I doubt it would be resistance on the way back up either.

Despite thinking the bottom is either in, or close to it, I don't see a bull market this year at all. More likely consolidation between $30K and $60K. Similar to in 2019 when Bitcoin went from $3.2K to $14K and most were convinced that the bull market had started, until price re-tested $4K levels. Even ignoring that covid crash, price still took a year to consolidate back to the $10K levels, and had already dropped by 50%.

Think I mentioned it before but wouldn't be surprised to see price return to $50K to $60K by summer, before re-testing $30K again by the end of the year, maybe the 200 Week MA will be around this price by then. This is mainly due to Weekly moving average bearish cross-over which Bitcoin has always been very respectful of, ie showing that price is moving up too fast after a drop and needs more time to consolidate.

Also will give all the noobs the opportunity to buy high again after selling low, before price drops upto 50% and the bull market starts up again. Ie the usual recipe for another uptrend.

Researchers are planning to feed bugs like house crickets and mealworms to children between the ages of five and 11 from four primary schools in Wales.

ppps- In a couple of years you will likely look back at your purchases and be saying "I am a fuckin genius"

It appears the whale accumulation at lower price levels supported BTC’s ongoing rally. It also looks like most of the addresses holding between 10,000 and 100,000 BTC were expecting the price to dip further. Despite the nature of the market events, the token did not register a major move on the metrics. Hence, the short-term performance of the king token still remains a mystery.

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Yeah.. Nullius., you dweeb.  ....