Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Fun Fuct: A Judas goat is an animal trained to lead a heard of sheep to the slaughter, without itself being killed.
Not sure how this is relevant to Bitcoin, but I'm all in. Buy buy buy!
Not sure how this is relevant to Bitcoin, but I'm all in. Buy buy buy!
Feels good to be all in...
I am at the point that I try not to go all in.... even when upward is looking pretty likely.
A couple of days ago, when we were at $470, I was feeling like I didn't have enough bitcoin in my BTC holdings because the nearly steady upward prices from about $403 to $470 over the previous 6 weeks had caused my BTC funds to go from 96% BTC allocation down to about 92% BTC allocation...
However, the most recent downward correction allowed me to correct what I had begun to feel as an overallocation in fiat, and I a now a little over 96% BTC again.... Surely it feels like not a bad place to be, especially when there currently seems to be a lot of upwards pressures, there was a decent correction and chances of continued upwards are looking fairly decent, at least, at the moment... and looks like we could possibly break through the $467 this time?
The crash from $470 was about the time the fed announced it was leaving rates unchanged. However, today there was a government financial report released that's only released once every few years. It says fiat's fuc*!d for for foreseeable future. It might get people buying Bitcoins again.
You may be correct that various news can cause marginal effects on whether BTC prices are moving upwards or downwards (by marginal, I mean tipping the scale towards one direction or another when other factors are also at work). In that respect, I am kind of thinking that BTC was due for a bit of a substantial correction after going from $403 to $470 over 6 weeks without any meaningful or major correction.
In the previous 6 weeks, we had not seen corrections that were more than 2 or 3%; however, the correction from $470 to $435 adds up to almost a 10% correction... and accordingly fuel for continued upwards and onwards, no?
I'm looking forward to witnessing this time, the extent to which there may be resistance in the $467 to $475 range... and I am kind of thinking that bears may be running out of coins (though we've been surprised in the past, that's for sure).