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

I have the feeling, already for some days now, that a $93k retest is on the menu.

We already been there, and done that.

In other words, prices touched upon $93,833 about 3 hours ago (at the time of this post).

Thanks, i totally missed that, because i only had a glance at ChartBuddy's numbers while scrolling down reading.
I still think there's a good chance to go really close to or momentarily below $93.000, a little moar deep than on Feb 18th.
If not, why not?! Grin

Either way would just go by emotionless for me.
Not the most bad thing $93k flat won't be touched at all and we already are looking back at the mentionen re-testing in the future.

So, in front of another screen (namely the one i'm looking at, right now) i accidentally (because touchpad) clicked on a page number above the currently last page, and ChartBuddy's was popping at me with $91.xxx in red. I was really startled for a sec Cheesy

EDIT: I forgot to mention that there is much liquidity at $92.xxx figures, so breaking $93k would be unsurprising to me. Breaking $91 would be rude, but the odds are bad (SOMA).

I hardly ever have confidence in figuring out how far any short-term price corrections will go, or whether they will have one, two or three legs downward before returning back up. Our price corrections from current times seem quite a bit less severe than previous times, (referring to prior to late 2023.. or maybe even this whole bull run from November 2022 until present, we have not really been having too many severe price corrections, as had been seeming to take place more frequently in previous times (prior to 2023)..

My assumption is that the market is milked more cautiously, and in the past we had good buying volume, which is slowly decreasing. Fresh money needed.
That may also play a role in printing the actual leg down, where $91k-$92k formed a big (long) liquidation zone, which are seemingly targeted more often recently. Smart money refined its strategies, so it seems.

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The seeming change in the severity of BTC price corrections is still not going to get me to presume that severe price corrections (such as greater than 30%) won't happen, and since we have been mostly been staying above $90k since mid-November, I am not even going to presume that sub $90k is not probable to be breached - even though sometimes there are likely forces wanting to flesh out as many weak hands as they are able to flesh out, yet I would have had presumed the weak hands to have had already been fleshed out and we would be ready to break into the $120k to $180k range, which also does not even mean that we might not correct back down to $100k and/or below $100k.

Agree. And the current correction is a good example, which is not far from 30% down at the time of writing.

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At the same time, there shouldn't be any reasons for any of the relatively longer term bitcoiners (what is a longer term bitcoiner these days? greater than 1.5 cycles?.. that would be prior to 2019) to be concerned about any of these matters, even though surely there are some of us who are getting anxious to cash out some coins, but not wanting to cash out any significant amounts of coin around $100k or even below $100k.. like some newbie fixated on round numbers.

Nothing to add here, except that longer term is assumed to be >1y, which i don't quite agree with, because the timeframe of "longer terms" is slowly expanding, but "shorter terms" (<1y) are not, nor are they getting shorter. This needs a differentiated view, imho. My personal "longer term" definition is >=2 cycles, which is not far from yours.