Bitcoin Thread - 2018

Swa

Honorary Master
Joined
May 4, 2012
Messages
26,312
Personally I don't do TA, but I know there's more to it than "double tops".
Sure. There's double bottoms, shooting stars, dead cat bounces, wedges etc. :p It's been all over the place lately though so hard to pin any of those down.
 

Sensorei

Executive Member
Joined
Sep 15, 2008
Messages
5,563
@Sensorei Master Sensei, what is your next strategy?
Lol, nobody knows what's going to happen. I'm just going on how I see bitcoin reacting based on past behaviour and trading confirmed breakouts on chart patterns. I don't see any tradable pattern now but definitely more on the bearish side short term.

So if it keeps going up I am only buying back in if BTC can get past $40100 where it was rejected. Around $40,250, if there is good volume support - don't wanna buy the top of a fake breakout.

Short term, if it keeps going down, there should be strong support at around $36,600 because we already got a good bounce there, and the neckline of the double bottom that shot us up to $40K is also at $36,600. So I aim to buy there with about 30% of my money. Will see how the bounce goes, and keep the rest to buy in later. If it doesn't bounce there I expect $33K tomorrow.
 

Curiositykilledthecat

Well-Known Member
Joined
Aug 12, 2020
Messages
164
Anybody have any insight on the UK's HSBC clampdown on crypto? Looks like the European Central Bank is also wanting to regulate it and I'm sure other banks will follow suit. What do you think it will mean for bitcoin's future and pricing going forward?
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
26,312
So much for a bounce. I'm only getting back in when it heads back towards $10k.
 

saor

Honorary Master
Joined
Feb 3, 2012
Messages
25,704
Looks like you'll never own any Bitcoin again then.
He's gonna wait 5 years or something. Don't know how anyone thinks its going down to $10k any time soon. Ja, it could, but I see no reason to think it will. More outlandish statements.
 

Swa

Honorary Master
Joined
May 4, 2012
Messages
26,312
He's gonna wait 5 years or something. Don't know how anyone thinks its going down to $10k any time soon. Ja, it could, but I see no reason to think it will. More outlandish statements.
It's been what Bitcoin is all about. Literally visiting these lows every few months over the last 3 years. How anyone thinks it's definitely going to stay at this level and beyond when history has shown otherwise is just beyond...

And a few months is a very long time in Bitcoin land.
 

saor

Honorary Master
Joined
Feb 3, 2012
Messages
25,704
It's been what Bitcoin is about. Literally visiting these lows every few months over the last 3 years. How anyone thinks it's definitely going to stay at this level and beyond when history has shown otherwise is just beyond...
Ja but that completely ignores that this might be in a bullish uptrend. Look at the increase in trading volume.

pk.png

And your 'visits lows every few months'...look at those movevements vs the price where it's at now to get that low.

xx.png

Again yeah - it might go to $10k. but at this point such a claim is getting kinda silly.
 

Sensorei

Executive Member
Joined
Sep 15, 2008
Messages
5,563
We will never see a $10k Bitcoin again. The BTC whale addresses with 1000+ BTC have all accumulated MORE Bitcoin the last few days. They have not been selling. The stats are all on Glassnode. Smart money is buying. Dumb money (Swa) is panic selling.
 
Top