Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by Last of the V8s (1)
The 200 has ceased its decline and is actually flat
10 more days of flat.
Then the fall of SMA200 will resume, and soon it will be 7000...
very good point, just walking back the graph shows where the MA likely moves next, especially without any strong trend at present to counter. There is the possibility it breaks above when we are constricted in range like this and that brings us a positive upto 10k or so. Indicators shouldnt determine price like that but 200DMA is very heavily referenced so far as I know, it can change the mood no doubt
Forget 200, price is so flat the 50 day average is capping prices currently very consistently
If all this sideways is making us insane I can't even dare to imagine how gold hoarders must be feeling after all those years of nothingness..... or maybe we do have an idea....
Gold is supposed to go sideways, it does nothing with zero growth so the price should be flat but if anything I'd say it jumps around quite alot bearing that in mind. In theory people boast about how an ounce of gold buys the same thing over massive amounts of time, an ounce should buy a fine tailored suit was stated as true in Shakespeare's day and thats one way to judge prices now in theory.
Theres also reference to an acre of corn in ancient Egypt and all sorts but in this value gold has over time is the base purpose of gold. When price changes and its sold in dollars, then the gold bug will say the dollar changed not the gold and in this case we see dollar worth less over decades which going on wages is likely true.
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They've gone off the shelf I think, afaik it should be made to measure which is not very common and of course references wages and the economy at that time in the price. Cant say I own one of those so I wouldnt know the pricing exactly but in many cities its in the region