Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 7554. (Read 26723559 times)

There must be another way...

30 years?

I’ll be in my 60’s or dead.

He is right. Bitcoin can be store of value one day, but is very different from current banking and financial system. Not a substitution.



Just open blockchain explorer. You will see then why Bitcoin is not fungible.

^^ Next 30 years are critical...
Okay 20-30 years

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https://twitter.com/danheld/status/1269253110255493120?s=21

Indeed

Mark either still wants one foot in the incumbent world or doesn’t understand Bitcoin. I think both 

Bitcoin is a force of nature by now. We don't actually need to pay attention to what the old dinosaurs or supposed experts are saying. The old system is dying and nothing can change that. That's why they spend time virtue signaling instead of doing something productive, they are scared.

Exactly, Mark gives absolutely no evidence or even detailed opinion to support why it's "not fungible" and "can't be a replacement for the current system."

But I know why. He's just a mouthpiece for the system. Because 90% of Bitcoin is already in the hands of people outside the "system", and that's why they don't want to use it.

Who understands it? He claims that Bitcoin can be a Haven of value, then changes everything he says when he claims that it would not be useful in the economy, it is incongruous.

Mark Cuban questions how a bitcoin economy would work, agrees on BTC as a store of value.




Source: https://coinnounce.com/mark-cuban-questions-how-a-bitcoin-economy-would-work/

The banking institution(s) that are literally fucking over every person in the world are now virtue signaling.

Condescending and ironic doesn't even begin to describe this.

Cos someone said so.


This is exactly why price is indecisive right now. There are those that believe price won't move any higher, and those that don't see any reason that a correction could occur

Some people will never learn   

Hang on a minute, Julius. You don’t come in here & start being bearish, how dare you.

I see no reason for a correction now. After another leg up to 12k or 16k maybe. But now its up up up... go BTC go 

Why not?

nope

Did a search of cat riding a unicorn and came up with alot of new and disturbing memes.
People have been really busy during the pandemic being locked down.

Not yet, I am Still buying!

So, we go up?

Nice to hear your take on things again. I'm very much on the fence about the current price movement. Back when prices were around $7K, I thought there was a >60% chance prices would correct, now we have moved a lot higher I'm 50-50, even 60-40 leaning bullish the more I think about things. We are still within what to me looks like a bull trend (purple) and within a bull flag structure (green), the latter targets much higher levels. There's therefore nothing to suggest a correction as of yet apart from being at long-term resistance (the red line). That said, we are consolidating above this resistance trend-line (that comes from the Weekly chart for reference sake), so again, this is far from bearish.



I realised that moving the Weekly long-term resistance trend-line to include the recent close above it (that would still be valid drawing wise), to suggest that we are struggling to breakthrough resistance, would be drawing a bull-trend with a bearish bias that to me makes little sense apart from airing on the side of caution - which is sensible from that perspective. But otherwise, it's ignoring the fact that we have closed a Weekly candle above it, even if technically we did the same last time at $10K which merely shifted the trend-line sightly higher to where I have drawn it now. It's all very subjective and inconclusive right now imo.



The main argument I see from this resistance is that the more times we test this long-term resistance trend-line (even if sloping downwards), the more the chances of a breakout above it increases, as it is part of the process of weakening this resistance. The main concern "should be" the TD 9 Sell signal, but look at the last time we had this sell signal back at $5K, with a similar bull flag structure. It was a false signal by a long-stretch. This price action does therefore remind me more of $5K "uncertaintity" that led to a massive parabolic bull run, compared to the previous time we were at $10K.

The Weekly close tomorrow will be an important candle, as to whether it looks like a doji reversal candle, or a newly Weekly closing high in recent months. At the moment, we are sitting between those two options with little clarity. Everything from today and through tomorrow will likely just be noise, unless we break-out of the bull flag structure. Breaking down from the purple bull-trend (from the Daily perspective) will be of little significance to me short-term.

My mid-term concern is that breaking down from this bull-flag will lead to $7K levels being re-tested, possibly with another capitulation wick, as opposed to healthy consolidation and support from the 200 Day MA around $8K. Given that we broke through the 200 MA without any resistance, I fail to see how it will act as support, especially given the lack of volume from these levels, as well as previous attempts to find support from this important moving average - that many use to define mid-term bull or bear trends.

His board kicked him out ?