Explanation
Chartbuddy thanks talkimg.com
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 717. (Read 26586056 times)
May 19, 2024, 12:01:13 AM
May 18, 2024, 11:20:32 PM
First of all, you are talking about support and not resistance, so I FTFY
Supports and resistances are meaningful for traders, speculators and gamblers in the market. Because they use leverages for margin or future tradings and they take high risk, then the market will give them good profit if it break strong resistances or can give them big loss by liquidations if a strong resistance stays. Even the market price breaks a strong resistance, people who have short position with leverages can be liquidated too.Supports and Resistances are where those people with their leveraged positions, can be killed by Long squeeze or Short squeeze.
With a true holder, support or resistance don't affect them too much because they are simply holding with time and barely cash out part of their bitcoin investment.
May 18, 2024, 11:01:14 PM
May 18, 2024, 11:00:21 PM
Feels like the bullishness is taking over in the markets. I think inflation has worked it's way through the system and is hitting earnings now, inflating the value of everyone's portfolio and setting up the next inflation wave that is likely to cause some negative effects in the overall economy. For now though, the rich are getting richer at an incredible pace and Bitcoin is benefitting from it greatly. It's only a matter of time before the new all time high articles start hitting news stands and regular people start realizing what's happening and that their narrative on Bitcoin is completely wrong.
Well you are optimistic today.
I am still debating what to do next.
Selling off the mine is sad but must be done.
After I sell more gear I will decide what is next.
So far I have sold over 17k in gear lots more to sell
Good luck with your sales! I always thought the selling of no longer used gear was the hardest part about mining.
I am pretty optimistic about anything priced in dollars. Sure, we’re due for a horrible recession that will strengthen the dollar and crash asset prices, but it will be a temporary opportunity to flee fiat as government debts cause a laughable amount of money printing over the following decade. I’m not just bullish on Bitcoin. I’m especially bullish on anything with pricing power. Established brands of any kind will do quite well over the coming 10-20 years in my opinion.
Strengthen the $?
It's already pretty strong...just look at the USD/JPY.
You might have meant a decrease in inflation, perhaps?
That might happen...or not.
May 18, 2024, 10:47:36 PM
Yeah we’re building a real acceptance that > $65,000 is normal. Soon there will be a real lack of willing sellers at these prices and the effect of the halving is going to kick in. The next leg up will take us into the $85,000 range I think.
Hopefully we see over $100,000 this year. That will set us up nicely for the peak bull run in 2025. I really need to devise a sell plan for this cycle soon. I’m planning to sell 25% again (like the last cycle peak bull zone in 2021).
Yes, I agree with many who say that the halving should not be confused with the rise in the price of bitcoin, but the real effect of the Halving has always been that, I have great faith that it will not drop further to the $60k -$65k range , and the goal is that by 2024 we will see Bitcoin at $100k and by 2025 it will reach a price of >$180k or more.
I see the movement of BTC with great optimism, we are already at $69k and this motivates me much more to continue obtaining BTC to continue Hodl, I think it can remain in the $67k range and that they can make a difference.
This article speaks very well:
Bitcoin's $66.9K price holds strong, casts doubts on a 'deep correction'
Meanwhile, pseudonymous crypto trader Rekt Capital pointed out that the significant correction event has already happened, with Bitcoin’s price falling by 15% from $66,421 on April 24 to $56,792 on May 2, as per CoinMarketCap data.
“We've had a deep correction, we've had a long correction, and when you have a mix of both, the bottom is always very close,” Rekt declared in a recent X post.
and this chart I liked:
Quote
Analysts and observers are closely watching Bitcoin's price for signs of more correction, particularly since the Bitcoin halving event on April 20, drawing on past halving events as a precedent.
Source: https://cointelegraph.com/news/bitcoin-deep-correction-doubts-crypto-analysts-price
May 18, 2024, 10:13:03 PM
drifting along in the 60-70 slot one day we will leave and quite dramactically.
Yeah we’re building a real acceptance that > $65,000 is normal. Soon there will be a real lack of willing sellers at these prices and the effect of the halving is going to kick in. The next leg up will take us into the $85,000 range I think.Hopefully we see over $100,000 this year. That will set us up nicely for the peak bull run in 2025. I really need to devise a sell plan for this cycle soon. I’m planning to sell 25% again (like the last cycle peak bull zone in 2021).
Personally, I think that it is better to have a somewhat tentative plan in advance so that you sell on the way up rather than selling on the way down.. yet, I also know that sometimes with the varying personal tradeoffs in regards to how to do accomplish it, it can be easier said than done... . even though I surely buy into the raking approach, but I have been too whimpy so far to even attempt anything close to 25%, which might not be a bad idea.. but I am not unhappy with what I have been doing either.. Maybe I could consider some kind of a compromise.. like 12.5%? So yeah, maybe I am in a similar boat as you, even though I don't really feel any burning need to sell more than I already do in my already existing system.
I don't think price will go below 50k ever again.
Is this a good statement based on the price action of the past 3 years or so?
Unless some goofy goober with a centralized exchange decides to hurt the price again like SBF did -.-
I thinkresistance support will be so strong after this halving, and people are going to be fighting over satoshi's like never before between now and next halving.
Thoughts?
EDIT: LFC! Thank you <3 I guess my perception on price action behaviour is somewhat decent! Very self-movivating and I appreciate that merit.
Is this a good statement based on the price action of the past 3 years or so?
Unless some goofy goober with a centralized exchange decides to hurt the price again like SBF did -.-
I think
Thoughts?
EDIT: LFC! Thank you <3 I guess my perception on price action behaviour is somewhat decent! Very self-movivating and I appreciate that merit.
First of all, you are talking about support and not resistance, so I FTFY
Second, there is nothing really wrong with your proclamation, even though you don't really give very many claim specifics beyond that we are not going below $50k again absent some kind of a black swan event.. .. .. which is not an outrageous proclamation..
A few months ago, I made a claim that I would be willing to bet (so I consider the odds to be greater than 50/50) that we would not come within 20% of the 200-WMA before the end of 2025.,. and sure currently the 200-WMA is moving up at about $42 per day and currently it is at $34,726-ish. https://bitcoindata.science/withdrawal-strategy
May 18, 2024, 10:01:16 PM
May 18, 2024, 09:01:14 PM
May 18, 2024, 08:01:14 PM
May 18, 2024, 07:32:30 PM
Feels like the bullishness is taking over in the markets. I think inflation has worked it's way through the system and is hitting earnings now, inflating the value of everyone's portfolio and setting up the next inflation wave that is likely to cause some negative effects in the overall economy. For now though, the rich are getting richer at an incredible pace and Bitcoin is benefitting from it greatly. It's only a matter of time before the new all time high articles start hitting news stands and regular people start realizing what's happening and that their narrative on Bitcoin is completely wrong.
Well you are optimistic today.
I am still debating what to do next.
Selling off the mine is sad but must be done.
After I sell more gear I will decide what is next.
So far I have sold over 17k in gear lots more to sell
Good luck with your sales! I always thought the selling of no longer used gear was the hardest part about mining.
I am pretty optimistic about anything priced in dollars. Sure, we’re due for a horrible recession that will strengthen the dollar and crash asset prices, but it will be a temporary opportunity to flee fiat as government debts cause a laughable amount of money printing over the following decade. I’m not just bullish on Bitcoin. I’m especially bullish on anything with pricing power. Established brands of any kind will do quite well over the coming 10-20 years in my opinion.
May 18, 2024, 07:01:16 PM
May 18, 2024, 06:03:04 PM
66.9k in a loop
May 18, 2024, 06:01:15 PM
May 18, 2024, 05:22:00 PM
buddy be bopping at 66.9k
May 18, 2024, 05:01:14 PM
May 18, 2024, 04:01:16 PM
May 18, 2024, 03:54:52 PM
Feels like the bullishness is taking over in the markets. I think inflation has worked it's way through the system and is hitting earnings now, inflating the value of everyone's portfolio and setting up the next inflation wave that is likely to cause some negative effects in the overall economy. For now though, the rich are getting richer at an incredible pace and Bitcoin is benefitting from it greatly. It's only a matter of time before the new all time high articles start hitting news stands and regular people start realizing what's happening and that their narrative on Bitcoin is completely wrong.
Well you are optimistic today.
I am still debating what to do next.
Selling off the mine is sad but must be done.
After I sell more gear I will decide what is next.
So far I have sold over 17k in gear lots more to sell
May 18, 2024, 03:41:14 PM
I am close to leaving this game I did it a long time .
The problem for me was 2012 to 2017 I did not believe it as much as
I should have.
So even though I have made 100,000's of thousands it would have been a lot more by simply posting a signature and holding the coin.
Some times you get discouraged at what you did with it even though you made decent coin you feel it should have been way more.
The problem for me was 2012 to 2017 I did not believe it as much as
I should have.
So even though I have made 100,000's of thousands it would have been a lot more by simply posting a signature and holding the coin.
Some times you get discouraged at what you did with it even though you made decent coin you feel it should have been way more.
I do look back and laugh at all my various failed ploys to be smart. A little investment here, a little gambling there, a little carelessness elsewhere... I was only in this since 2016 but I "joined" only because I was actually convinced by personal experience. So it helped that I did DCA until 2020, it allowed me to afford the big emergency of 2020 I had.
But had I, as you say, simply earned from a signature and held my coin, and did nothing else, I'd be many zeroes in today.
I comprehend that disappointment, but I put to you that still, to walk on your own terms -- I hope that's something you'll continue to appreciate even with wistful hindsight.
I reckon I could convince her to take the Orange Pill.
Long as you're the one feeding it
May 18, 2024, 03:32:39 PM
I don't think price will go below 50k ever again.
Is this a good statement based on the price action of the past 3 years or so?
Unless some goofy goober with a centralized exchange decides to hurt the price again like SBF did -.-
I think resistance will be so strong after this halving, and people are going to be fighting over satoshi's like never before between now and next halving.
Thoughts?
EDIT: LFC! Thank you <3 I guess my perception on price action behaviour is somewhat decent! Very self-movivating and I appreciate that merit.
You too, Juan! <3
Is this a good statement based on the price action of the past 3 years or so?
Unless some goofy goober with a centralized exchange decides to hurt the price again like SBF did -.-
I think resistance will be so strong after this halving, and people are going to be fighting over satoshi's like never before between now and next halving.
Thoughts?
EDIT: LFC! Thank you <3 I guess my perception on price action behaviour is somewhat decent! Very self-movivating and I appreciate that merit.
You too, Juan! <3
May 18, 2024, 03:05:49 PM
drifting along in the 60-70 slot one day we will leave and quite dramactically.
Yeah we’re building a real acceptance that > $65,000 is normal. Soon there will be a real lack of willing sellers at these prices and the effect of the halving is going to kick in. The next leg up will take us into the $85,000 range I think.
Hopefully we see over $100,000 this year. That will set us up nicely for the peak bull run in 2025. I really need to devise a sell plan for this cycle soon. I’m planning to sell 25% again (like the last cycle peak bull zone in 2021).
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