Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

we have broken down through the medium term support line

this could just be the mother of all bear traps...or things could get really ugly

You like a little drama in your posts?

Seems as if you are exaggerating a bit.

Look, we were just at these price points a week ago (which is a 15% correction), and it would not be unreasonable to have a 30% or more correction. I have my doubts about a 50% correction, but sometimes, momentum has it's own effect, and sure as fuck, bitcoin likes to overshoot expectations, no? We are not beyond overshooting, but there is no need to exaggerate and to act like there is some kind of doom and gloom going on in bitcoin at this time, and there seems to be considerable and ongoing buying support, at this level and at lower levels, if we go there.

NO need to panic yet, boys and girl.

We both know that bitcoin always has the potential to lose on the order of 40% of its value in a matter of days. It has happened many times in the past and yes, I have found it rather dramatic when it happened. Were it to do that now it would put us under 3000 USD. Such an event would not shake my faith in the long term exponential bull, but newcomers to the space should be aware of the possibility.

O.k. So your reason for drama is to help out the "newcomers" to better understand the market movements of bitcoin? A bit patronizing, no?

Yeah, newcomers can look at charts, and yes, there are a lot of people who jump into something blindly, so are these "newcomers" gonna understand your drama for what it is? A warning or you want to call it an "awarening"?

Calm down, JJG.
I also was once this kind of "newcomer" thirsty for any kind of confirmation from this forum.
I know their feeling...

Oh? Is that right? So if there is a pattern of a poster (whether newbie or not) putting out random posts to attempt to inspire panic selling or talking their books, we should just tolerate that kind of ongoing nonsense and seeming trolling?

Sure, there are not enough hours in the day to call out all of the book talkers, but some of these folks, such as jojo69 - puts out these nonsubstantive posts that attempt to get folks to panic by suggesting that the price is inevitably going down or suggesting that hodlers should sell after the price had already substantially corrected - which nearly a sure-fired means of causing some folks to panic sell and possibly at the bottom or near the bottom.