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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 4870. (Read 26608322 times)

legendary
Activity: 1722
Merit: 2213
Price looking good today. Out of a few possible bullish fractals that were likely to play out, looks like price found it's outcome following a 4 candle correction from a TD 9 Sell Signal Smiley



The 21 Day MA and previous resistance held as support (circled purple), currently anticipating further upside to the 0.618 fib retracement level (circled red) where there is minor confluence of previous resistance.



Furthermore, price strength is currently testing the bearish divergence that developed this month. A close above would be a nice set up for further upside:



That said, a breakdown today below the Daily opening price of $49.125 would further confirm and reinforce the bearish divergence likely leading to a correction back to the 200 Day MA.

The market is otherwise still lacking volume with low volatility, so this is far from the a breakout. Price is merely continuing to grind upwards, not that this is a bad thing either.



full member
Activity: 1386
Merit: 132
Precision Beats Power and Timing Beats Speed.
https://www.youtube.com/watch?v=sLxdLIeT51U

Dana is a smart guy I gotta give it to him. His view on this is next level
legendary
Activity: 3780
Merit: 5429
Me?  For a long time (say post 2017, in 2017 I cashed out as well, from 2018 - 2020 I bought), I aimed for +/- 1% of my net in BTC (none in alts).  As BTC rose, I would on occasion re-balance my portfolio by selling (or trading BTC for gold).  Typically during 2020 (and especially 2021) the BULL MARKET ran away from me so fast that it was hard to balance it back down to 1%.  But, that's OK, good, in a bull market.  Right now I am roughly 1.5%.

DO keep in mind that even my HODLing 1% (subject to irregular re-balancing) in the past year and a half or so has yielded me well over 1% in my whole portfolio.  I will have to do the numbers, but even just a HODLing at 1% has probably grown my portfolio perhaps 4% - 5%, not bad considering I have been trying to keep BTC at 1%...

Please don't tell me you're sticking with 1% allocation because you heard that on CNBC and in the MSM.

There is a reason they are telling the public that, and it isn't for the publics' protection.

Hint: the wealthy elites aren't just allocating 1%.  Wink
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 3556
Merit: 9709
#1 VIP Crypto Casino
Bitcoin breaks $50,000 for the first time since May.

Me to NOCOINERS & haters around me in life …….

full member
Activity: 1386
Merit: 132
Precision Beats Power and Timing Beats Speed.
Did you guys know if an Alcoholic drinks alcohol every Day for 30 years straight. His Brain Will shrink 70% and Will lose all rationality. Same goes for some drugs 🙂

You should consider quitting

Not really no, I drink IF 1 time a month and thats maybe a beer or two. Or some really good Vine
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 2688
Merit: 2470
$120000 in 2024 Confirmed
Did you guys know if an Alcoholic drinks alcohol every Day for 30 years straight. His Brain Will shrink 70% and Will lose all rationality. Same goes for some drugs 🙂

You should consider quitting
legendary
Activity: 2688
Merit: 2470
$120000 in 2024 Confirmed
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
member
Activity: 1120
Merit: 68
I want to tag @proudhon here. What's your say on this time of year when bitcoin is not stable 10k above? Cheers to everyone who's still hodling, I know that I will have for dinner tonight.
legendary
Activity: 2590
Merit: 4839
Addicted to HoDLing!
[...]

proudhon was right -- again!

We may cross $50k today.

He said that?

Oh my!!!! I had not been closely following that soothsayer wannabe to get MOAR betters insights of price direction nuances.

[...]

Indirectly, yes! If you know proudhon, then you know he always predicts the opposite of what's actually going to happen. Kind of like a huge NOT at the end of every post of his. Every time I see his posts I know there's going to be a pumpening. He's one of the most reliable UPpity predictors out there. Second best is a Crystal Ball. For the rest of us that do real math & science, there's the White Paper.

Enjoy the UPpity, WO brethren! $60k could be much nearer that we think.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1178
Merit: 1014
Hodling since 2011.®
This calls for new poll?
sr. member
Activity: 1414
Merit: 326





Obserev $50k+ now just hold up 50k double bitcoin is now great back 2021 is the golden year now have to wait for the next limit to be crossed. Roll Eyes If all subsequent limits are exceeded then Bitcoin can be more than $150k+.

just hold  Shocked
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 3164
Merit: 2258
I fix broken miners. And make holes in teeth :-)
Free trade is never a zero sum game. This is the mistake lefties make all the time. They only ever count the beans.

Anyone who believes that trade should be a zero sum game is a colonial mercantile. Oddly enough the recent administration in the US really flirted with this.

legendary
Activity: 3304
Merit: 8633
icarus-cards.eu
legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
The following thought might be more appropriate in some other thread, but I have long wondered whether or not BTC gains by all/most of us represent some kind of "Zero Sum Game", looking at the larger view.  That is, a win for me (or us) would be a LOSS for someone else?

My inclination is to think "No", that this is not a Zero Sum arena, as it is new technology that has great promise.

Free trade is never a zero sum game. This is the mistake lefties make all the time. They only ever count the beans.

I think the vast majority of time, you are going to be correct Richie.. because when a trade take place, there is usually going to be some surplus value that gets created and goes beyond the trade (or is created because of the trade), and perhaps one side will get more value than the other, but the overall value is likely greater than it would have been without the trade. 

Now, if you have a bitcoin and I take it from you (like a robbery) and then it becomes my bitcoin, then that is a different story because it was not a voluntary transaction between us, and likely no value would have been traded there.. the value would have been transferred from you to me.  But if you have a car, and you are selling it for a bitcoin and I buy it from you, then we both should have some surplus value from that particular trade, even if the surplus value is not likely going to be evenly split in the real world between us, but the fact that you said that you were selling it for 1 BTC, and I was willing to buy it for 1 BTC, there presumably should have been some extra value on each side.. unless I bargained you to death in terms of your just being neutral about whether to sell it for BTC because you initially advertised it for 1.5BTC... but in any event the overall value should quite likely be greater than if we had not done the trade.

The creation and existence of bitcoin creates value in a lot of different ways, so it would be very difficult to think about any aspect of the bitcoin ecosystem in a zero sum game kind of way, except if there were only robberies going on, and that surely would be a jaded view regarding what seems to be a whole hell of a lot of voluntary transactions in the BTC world that are motivated by various incentives and not forced takings. .. so overall increases in the overall size of the pie of value getting created on a minute by minute basis in bitcoin (and perhaps every 10 minutes, too)...
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