Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 436. (Read 26465958 times)

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They kicked it up a notch.  Things are getting interesting.

It's so unfortunate that I couldn't join the show live, but watching a bit of the recap was worth it. Aurora emits its light in such a beautiful pattern. Although I haven't seen it live, I first saw it in the "Rise of the Guardians" cartoon when Bunny visited the North Pole  . I also confirmed via the YouTube link you dropped (comment section) that there will be more tomorrow night  

My apologies for the newbie restrictions preventing me from sharing an image of the cartoon scene.

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ChartBuddy's Daily Wall Observation recap
..
All Credit to ChartBuddy

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This guy!  Surfing the sky and giving a tour of the universe with his telescope while the aurora goes on behind him.  In Britain no less!  Next level.

https://www.youtube.com/watch?v=rTxvAQYKGPI

This time is different.

A strange cycle 

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Oh gawd....  

The punchline is that bitcoin no does not work like dat.

So it seems that you might be spouting out such nonsense on purpose just to troll us?

You could not really believe what you are saying.  Or could you?

That would be retarded.  No?

Let me try to 'splain to you some of dee basics in regards to how bitcoin works.

You see..  bitcoin has been in a bull market since about November 2022 and yeah, we might not have had realized that we were in a bull market until either mid-2023 or perhaps late 2023, so if you actually zoom out ur lil selfie a wee bit MOAR better, you will see that the BTC price has largely gone up from about $15,479 in November 2022 to  $73,794 on March 13, 2024, and yeah , so the bitcoin price has largely been correcting since March 13, 2024, and so far, the correction has gotten down to as low as $56,500, which is about a 23.5% correction, so far.  

Sure, the correction could go lower, but it might not. We don't really know, and the mere fact that we are correcting and even potentially getting to pretty high levels of corrections, that does not convert our current bull market into a bear market, even though there are quite a few folks currently with a decent amount of bearish sentiments, and surely sentiments do not convert a bull market into a bear market either, even though there may well be a lot of wishful thinkers praying for lower prices that may or may not end up happening.

By the way, fuck off with your proclamation that the mere fact that a correction might last until the autumn, as you anticipate, causes this current bull market to convert into a bear market (or supposedly already has converted into a bear market as you are proclaiming).

If the BTC price starts to get close to within 20% of the 200-WMA - which is currently at $34,371, I might be willing to concede that we are no longer in a bull market or at least that there is some kind of BTC price action that is putting our current bull market into question.

Another thing is that we have not even gotten out of no man's land, yet which is right around $55k, and even getting out of no man's land is not going to cause our current bull market to be transformed into a bear market just because some folks are continuing to wish for lower prices that are probably not as likely to come as you are seeming to make them out to be.


Paashaas seems to be a flip flopper, and mostly a flopper rather than a flipper.  


Wow!!!!!!!  That is some real esoteric "insider" speak.


Welcome to the forum.

I am not very crazy about your wanting to provide single explanations for BTC price dynamics, and even your focus on the ETFs for our current BTC price moves comes off as a bit weak.

There is nothing really bearish about current ETF flows, even though sure they could turn bearish.

There surely have been a lot of seeming attacks on bitcoin, self custody and even other hostile regulatory discussions that also seem to be playing into negative sentiments, which likely could contribute to some weaker hands to give up some (or all) of their BTC.

Sure, I sometimes might point out some of the things that I currently consider to be going on in the bitcoin space to contribute to BTC price dynamics, yet I hardly ever get very excited in terms of presuming that I have much more than 50/50 levels of confidence in regards to BTC's short term price direction, even though surely currently I still consider the odds for UP are slightly greater than the odds for down, in the ballpark of 55/45, since we still seem to be both in a bull market and in no man's land - both of which I mentioned in my above response to Paashaas.


Truthfully speaking, I need that gobble-dee-gook translated into something that I might be able to understand.  Perhaps a performative dance might work?


Yeah, but still what are the numbers?  Can you translate it for some of us who are less capable of reading gobble-dee-gook?


That description is even more retarded.

You are describing a trader mindset that has almost nothing to do with actual long term investment, and you really believe that mindset causes a market to be a bull market or a bear market?

Some people (including uie-poo-ie, Agbe) don't seem to recognize the difference between being in a bull or bear market and experiencing BTC price movements within whatever kind of a market we might be in...

In other words, even if there is a bull market, the BTC price does not just go up the whole time, and just there is a bear market the BTC price does not go down the whole time...

You may well need to zoom your self out a wee bit MOAR better to be able to recognize and appreciate what is happening around the BTC price movements that you are perceiving to be playing out.

Explanation
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It begins!

 Switzerland reporting in:
Taken by fabio scherrer on May 10, 2024 @ Switzerland, Kronberg, 47° N latitude



 edit: also from Bihać - Bosnia and Herzegovina



 edit2: and Southern Germany
Taken by Sven Melchert on May 10, 2024 @ Stuttgart, Germany


 
 edit:3 okay last one but this is from 44°N LAT
Taken by Luca Pescatori on May 10, 2024 @ La Spezia, Italy

Many people are not in bull market base on the time and period they started their investment. If they invest at the time of $65k $68k and was planning to sell it when bitcoin hit $78k or $80k and when bitcoin climbed to $73k they didn't sell because that is not their target price to sell and now that the price is coming down again they are on the bear market so they have to wait again. And that is the long term investment we are talking about.

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They are market makers for many ETF issuers, so it is expected for them having some share inventories.
Those numbers are actually quite small, so weird.

It can be considered bear until October 2023.... the game changed when we broke the 32k resistance....

Bullish since personal entry point

Not knowing which block it was.

Explanation
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@BitcoinMagazine
BREAKING: 🇺🇸 America's largest bank JPMorgan Chase discloses spot #Bitcoin  ETF holdings in new SEC filing.




https://x.com/bitcoinmagazine/status/1789020004131737624



Probably nothing, anon.

Just ignore it and continue selling cheap to institutions. It seems like such a great idea to sell right now.

Jamie Dimon, LOLLLLL.

Watch what they do, not what they say.