Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5892. (Read 26715517 times)

I wish I could manifest my wallet.dat into the form a bludgeoning device, and just go to town on JJG.

Holy crap, and I thought I had a bad meltdown a while back over "Fight Club"...

Oh yes, I've seen it all before many years ago on MtGox. Massive sell walls popping up after huge dumps which slowly but surely move down in price pushing any trade towards a huge bid just sitting there waiting a bit further down the order book.
 
Pure manipulation of course.

The goal is as far as I'm concerned always to get more coins, even for the bears, they just want them cheaper to dump higher....

India’s Finance Minister, “We will allow a window for people to use Bitcoin and experiment”

https://twitter.com/i/status/1371247856821141507

Now i got what you mean. Yes, should add to the momentum, too.

EDIT: But as a bull i think to myself: "great, more cheap coins at (almost) fixed, lower prices instead of climbing up the bidding ladder".

Turns out, i'm not gifted much in taking the view of a bear 

FTFY

To drive the price down and force 'those inclined to panic' to sell into their bids.

Classic 'bear raid'.

The best thing: the guy supervising this dangerous stuff is also in charge of (US) COVID policy.

The crazy are running the asylum.

Because some of us are still used to 2017 pump levels. I made that mistake, too.
But JJG got me straight again 

I tend to look at various (long term) indicators which may give guidance on this point.

https://charts.woobull.com/bitcoin-mvrv-ratio/#:~:text=MVRV%20is%20simply%20the%20ratio,spotting%20market%20tops%20and%20bottoms.
https://charts.woobull.com/bitcoin-nvt-price/
https://charts.woobull.com/bitcoin-vwap-ratio/
https://charts.woobull.com/bitcoin-price-models/

The Mayer Multiple is also a good one.

https://www.buybitcoinworldwide.com/mayer-multiple/
https://charts.woobull.com/bitcoin-mayer-multiple/

But in the end it's also about your own gut feeling. A simple rule could be: when in ultra bull market phase, think about selling some if price doubles again within 3 weeks.

No worries, were not in 'ultra bull market phase' yet.

I don't think they'd set them this deep. Wouldn't make a lot of sense (or money).

EDIT: Let me refine. Why would they sell a bunch to trigger SL and panic sells, to buy in lower again and then set up sells slightly above their buy levels?

Lol, who do you think put the sell walls there? 

did some reading on the Gain-Of-Function research in science and I'm shocked now. since several years mankind is on the way to destroy themselves by Gain-Of-Function research and tweaking all kind of viruses. a second way to destroy themselves besides nuclear weapons.

Better ban India from crypto  
If they don't stop spreading the FUD  

Now get on with that $timulu$ pump already!

EDIT: /me getting over-excited again. Usually i do this before dips, so hold your fiat ready 
But when i see how those red walls get eaten up slowly, i doubt another dip (which usually follows right after i'm sure it should not occur)...

Old news.

https://www.business-standard.com/article/markets/india-will-not-shut-off-all-cryptocurrency-wants-blockchain-sitharaman-121031400754_1.html

As in most cases, this "dump" is not related to any news. The media always "finds" the reason, because they have to fill the  pages with something. IMO this is the usual



used by the bulls to clean the path for the next massive bull run. Now it can go even higher because of the weak hand cleansing. Let's not forget that 10% from the stimulus checks is equal to the whole Coinbase reserve, where the buying will occur. I expect crazy weeks ahead with a break to 120K in a month. And that won't be the end of this bull cycle, just a small stop on the way to 200K-400K this year.

not richy but ill give my (more or less useless) opinion based on my zfs and raid stuff as well as having SSDs since the intel X-25 SSDs. (2007 or so)

spinners are great for long term storage especially when not powered for long periods of time (years) which admittedly is not common in a NAS. but more importantly if they fail they can often be recovered with specialized equipment.

when a SSD goes its tends to be gone with no real way of recovering data. they are supposed to die in a read only mode but i have had 2 SSDs die in 10 years or so with no way to recover (hooray for backups!). and NO spinners die in that same timeframe although i lost a couple maybe 20 years ago.

the key to long life on spinners is to never turn them off imo.

for me its now its all mirrored drives (desktops) or ZFS level 2 (? i think its Z2 have to check) for important stuff on the NAS (my Z2 is 4 spinner drives any 2 can die) and Z1 (3 SSD drives, one can fail) plus a mirrored set of external USB spinner drives for (more or less) easily replaceable media. and kinda an experiment to see how far i can beat those externals as i do a full scrub every week on all pools. all in a freenas box that backs up to another freenas box thats off line except for that backup process.

so for me, i use spinners for important long term storage. safer as there is a chance of recovery if the drive goes belly up.

also for a NAS please use ECC memory!

i will be happy to be proven wrong on any of this however.

So a year of weekly India bans Bitcoin to look forward to then.

Sick to see these sellwalls grow on this dump. Playing into the hands of accumulators and bearwhales.

EDIT: Who thinks we're going down a second time today? I'm twisted.

https://www.reuters.com/article/uk-india-cryptocurrency-ban-idUSKBN2B60QP

Latest round of FUD; India looking to ban crypto which we've known for some time now... People dump for the stupidest reasons. If India wants to shut themselves out of a revolution, that's their bad luck

The one thing i'm waiting for is the return of STRF writing things like "hey HODL loosers, told you so!"  

EDIT: I wasn't as good in "understanding the game" and had to market buy at a tad above $56k because i didn't set up limit buys.