Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 7216. (Read 26725197 times)

the weekly wall report

Bitcoin posted a solid day closing the weekly candle at $11,708.97 on declining volumes. Tomorrow is the close of the monthly candle and will bring further clarity as what lies ahead.  #dyor

The daily candle almost closed as marubozu though perhaps not as it has a small wick at the bottom. I consider it close as we finished the day at the top of the trading range. The technical definition is a candle that trades strongly in one direction and closes at its high or low range for the session in case any of you are wondering.

Bears eat crow
D


As for the weekly candle..there is much to unpack here so bear with me. Bitcoin finished the week in the green with a strong push above $11.65k resistance opening the door for further upwards movement. Obviously of the three possible ways we can go here..I think two are more probable...up or down. Sideways consolidation has been the theme for the last 4 weeks or so and I believe we are about to breakout of the range we have been currently trading in...basically $11k to $12k. The strong global demand for bitcoin as a store of value seems to be increasing as the shock wave of the Covid-19 pandemic and social unrest promulgate around the world. That is one part of the equation.
The second part is of course the miners. Will they hodl? Can they continue to hodl? I am not sure tbh. The two scenarios I envision are this..
1.  In approximately 2 to 6 weeks...miners capitulate and we see some form or another of a V pattern. Price drops downwards toward the 0.5 long fib line at around $10.5k and we see more trading between $9.5k and $10.5k.  It could be even worse if hodlers panic over the US elections and we loose long fib support and perhaps drop down into the cloud and retest vegeta levels. Regardless I dont see $8k support being tested again unless sha-256 is broken.
2. The second scenario is much more pleasant..bitcoin spikes upwards over the next several weeks and does not look backwards until a new ATH. Perhaps not much even then. I think bulls should be targeting the $25k range as a new median price for corn. It has a nice psychological weight to it and imho would make a nice launch platform for the next leg upwards. All things worth considering.  

Honey badger bites eagle on the ass
W


More data available tomorrow of course but the monthly continues to look bullish. Carry on.
M

#stronghands

Not at all Bob. I think there was a time you were flaming a bit and I tossed you on to quiet stuff down. Lately when you post I just read it (like now), I'll update. :-)

Green, confirmed.

Mmm.  Ignore List.

Dabs and Peter R kindly helped me a lot when I was (even more of) a beginner than now on a couple of topics of interest to me back in the day.  Those two would be on my "Merit List" were that to exist.

I don't have anyone on Ignore, erm, 'cause I might learn something.

#methree

Go Bitcoin Go!

Thanks.

I don't like being ignored.

I also don't have anything in my ignore list, likely because I had to see every post before when I used to be mod, and if I needed to actually ignore someone, I could just skip whatever they posted. Or read it anyway, then don't respond.

Good point. At 150 billion cubic metres flared annually, the energy wasted is around 1% of global primary energy supply (or assuming 2/3 conversion loss, 2% of electricity production).

#metoo

observing 11700...

We only have 43 minutes & 47 seconds for the weekly candle to close, and it appears slightly inclined towards closing greenie....

A close above $11,655 will be green...

Of course, we are above $11,655, as I type.. just observing $11,705 as I am clicking on the "post" button.

I'll play, for what it's worth.

Can't remember why I placed Dabs on my ignore list. Was likely done while in a "rage state", and removed him, but, well... here.

A bit surprised to see I made lightfoot's list, but hey, people gotta do what they gotta do. Don't have any issues with the fellow at all.

$12K this Week? We are going slowly up.

And there's also the WO forks that appeared when we had to vote for someone to take over this thread.

https://bitcointalksearch.org/topic/wall-observer-btcusd-price-tracking-and-discussion-20-unmoderated-1993010

https://bitcointalksearch.org/topic/wall-observer-btcusd-price-tracking-and-discussion-phoenix-revision-1991115

https://bitcointalksearch.org/topic/wall-observer-reloaded-bitcoin-price-tracking-discussion-1992753

https://bitcointalksearch.org/topic/wall-observer-btcusd-bitcoin-price-trackingdiscussion-pure-forking-anarchy-1993741

Bitcoin Will Break Out This Year, Says Devere CEO

https://news.bitcoin.com/bitcoin-breakout/?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+BitcoinBoltFeed+%28Bitcoin+Bolt%29

Not to mention thousands of pages of deleted posts...

The old WO was only 1189 pages, so you should be able to read that during your lunchtime.

https://bitcointalksearch.org/topic/wall-observer-mtgoxusd-wall-movement-tracker-85687

+1 WOsMerit


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+1 WOsMerit   

Got me but eerrrm, looks like you don't read everything either, since I posted about my "mission" weeks ago already

I got off to eat something about 2 hours ago, and now that I'm back, about 22 posts were added already. How the hell am I supposed to read the whole thing? Can we start a fund to provide my financial support during my reading of the complete WO? (and by the way, there was an even older WO before this one, if I'm not mistaken, so make that 2 funds)

@lightfoot, do understand a lot of them on that list, (whole forgotten about some of the real tards on that list) 

Then again I can’t understand some users.... quoting someone’s post to then tell everyone that the guy is on the ignore list

But why Always putting them on unignore .... flipping daily from ignore to unignore... = unhealthy, some guys please make up your mind 

Lovely