Post
Topic
Board Speculation
Merits 3 from 3 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
AlcoHoDL
on 16/02/2024, 15:45:13 UTC
⭐ Merited by xhomerx10 (1) ,bitcoinPsycho (1) ,JayJuanGee (1)
Feels like the chopper's gonna vroom vroom tonight. Cheesy

Why tonight?

If we use UTC and the time of your post as our reference, then presumptively you are talking about the thing happening within the next 4-16 hours, give our take 4 hours.

But why?

Are we experiencing ongoing "supply shock?"

or is something else going on?

I am not saying that I disagree with your feeling, whether it is a gut feeling or a SOMAtm - d_eddie feeling, but we surely are within the top of the "don't wake me up" zone, so I am not going to presume getting through the top of it, even though there still is some room for movement within the top of the zone, yet at the same time, there is no reason that we might not continue to bounce around in these here parts.. except surely the ONGOING  net vacuuming up of BTC by the various BTC spot ETFs on a daily basis surely cannot be healthy for anyone expecting down and or sideways BTC price performance in the coming weeks and/or months,

and at the same time, I am coming to a similar kind of assessment that it is almost like the BTC price has to double or triple from here in a fairly short period of time to merely help with the ability of spot BTC ETFs to be able to continue to absorb actual BTC rather than fake ones.. but even conceding all of that still would not necessarily meant that more UPpity is imminent, including breaking out of the "don't wake me up zone" and getting into "no man's land" while passing through "hot butter" territories.

Pray tell, what I might be missing in terms of your current vision?..including that as of about a month ago, we had a two-year high of $49,048, but then a correction down to $38,505... but then perhaps a somewhat overly rapid shooting up from near the bottom and mid of the "don't wake me up" zone and getting into the top of the "don't wake me up" zone.. but still we don't get any kind of automatic continuance UPpity.. because if we actually get into "no man's land" while passing through "hot butter" territories then surely we could end up losing momentum if we end up getting there too quickly, no?  or do you consider that BTC buy pressures (support) will be able to keep up so that we would clearly be able to get through "no man's land" - aka "bat country" and therefore if successfully making it through such, then we may well end up ranging in the $82k to $100k arena (which price range still has not been named - because it is likely too early to be too presumptuous about even getting to that $82k to $100k price area in a relatively short period of time, if that might be in the short-term cards...)?

I was counting on chance and the various aftertastes that I'm getting from the weird sauce mix that has resulted from the ETF approval, the stream of mini/midi pumps and the upcoming halvening, all coinciding and fueling each other, more or less. I've got to admit that I'm not a great fan of James Brown, but that song is so fitting for the occasion. "When I hold you in my arms, I know I can do no wrong." Who can deny that? The more one hodls, the more the right and the less the wrong...

So, yes, it was the usual SOMATM guess I sometimes feel the urge to communicate to my fellow WOers. It didn't age well, I know, but $52k/coin is still not a bad price. And I'm sure the chopper will vroom vroom soon anyway. Weak hands will always be there to take short-term profits whenever there's a pump, so dumpenings are always expected. Considering that the real pump will occur in 2025, things can only get better from here onwards. Anything that happens earlier is welcome, but, as you correctly point out, not something to be all fussy about.

One thing I feel is certain: this year and the next will be among the most entertaining, exciting, fun years since the beginning. 6 digits = fuck you status for many WOers who aren't there yet, and there is a big difference between a $2M fuck you and a $10M fuck you.

$100k/coin and even $1M/coin are unpredictable certainties. Got coin?