Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
It's very nice how $9K is holding (for now) and people don't give a shit about it anymore. Slowly stepping and maintaining price without any FOMO signs sounds great. Even a little retrace would not do any harm right now.
While holding $9000 is welcome the daily BBands are sloping up so many traders are going to be looking to buy if price drops to the middle BBand at $8900.
Which basically "confirms" there is good buying support for a little retrace. And probably even more support for a bigger one. Also it is not as if sellers were pilling up to sell. Much the contrary.
I want to see the price over $10K as much as everyone else... but I love how smoothly the price is rising step by step and doing the proper retests.
Looks good so far.
Boring is best. A little more time to establish support at 7900 might be needed. ..then a few months to get back through 9xxx. would be the most sustainable way forward. Another spike like last Jun/Sep would not be a good sign.
10500 is the first real resistance, and it needs to be taken real slow. So far, so good.
I don't really have any problem with what you are saying, Majormax - except maybe with your term: "need".
I mean, really, bitcoin no doesn't work like dat.
Bitcoin does not just do things gradually.. at some point, we will have an explosion and thereafter a correction after the explosion.
It is just the way that things work out when you have an s-curve exponential adoption asset like bitcoin and people involved, too.
I think we already recently had some conversation about the multiple meaning and intensities of "need".
I would say that what Majormax means with "needs", in this particular case, is that it would be better for the price to reach the resistant point above in a kind of way (slowly) so that it doesn't correct as fast as it climbs. Also, even if at some point we will surely see some sort of "explosion" (see? that word could also have different meanings depending on context) and subsequent correction, it would be better for us bulls if that happens from a higher slowly consolidated price.
Does it really NEED to be that way to reach the best outcome? Of course not... it just "needs" it to maximise the probabilities of it. But it could perfectly happen otherwise. That's so obvious that it should be needed (lol) to explicitly mention.
I remember you have in the past also questioned me about some statements in which used the word "need" in relation to Bitcoin price and I think I didn't, at that time, clarify my position about it. So, this is it and I hope it helps for better understanding any future usage of the word "need" I might unconsciously use in the future when talking about price dynamics
Hahahahaha
You are not going to censorship me...
This happens to be one of my sensitivity points (i have a lot of them), so it seems that I respond to these kinds of asserted "stability" points quite a bit, and that is when members assert that bitcoin needs to be "stable" into the future, and yeah they are implicitly suggesting a condition, but still.... it is an unrealistic expectation... Yeah... we all would like BTC to be stable, but it is NOT going to happen... I mean there is about a snowball's chance in hell for bitcoin to become stable at this point in its life.
I understand that even though in this case Majormax does kind of lean towards a prescription for BTC to be stable, he likely does not even believe his own words. Sure, he is saying these kinds of things quite frequently and seemingly inclined towards overly bearish sentiments, NOT only in his suggestions about bottoms that "need" (sure he might mean preferred to be) to be tested, but also he is suggesting that bitcoin should not be getting out of hand in terms of explosive UPPITY, otherwise the BTC price is going to crash.. and I agree that it is more likely to crash if it goes up quickly, but what the fuck we gonna do... I mean sometimes it might go up too quickly and then continue to go up MOAR. I doubt that there is a need to complain about that.
Perhaps, I don't really disagree with him about what might happen or what becomes more likely to happen, except towards assigning numbers to it (his numbers might be a bit higher than mine), but in the end, bitcoin does not act stable, and sometimes does not really go down as much as theoretically it would seem necessary to go down because frequently it seems that members, including Majormax, are failing and refusing to adequately account for bitcoins s-curve exponential adoption... and trying to attribute more maturity to bitcoin, as an asset class, than it seems to deserve.
I surely do not have anything against Majormax, but I believe that he has too much bearishness ingrained into his head, and we (royal we) NEED to beat that bearishness out of his head to the extent practicable and feasible (not physically but with lots (walls) of bear-beating words).
