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Bitcoin Thread
- Thread starter Dan C
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SaiyanZ
Executive Member
Meanwhile on Luno the price has barely moved for the last 5 hours.
*SynergyX*
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price moves too fast for luno bots to catch up
real whale games going on....
real whale games going on....
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SaiyanZ
Executive Member
Yeah, think another big move soon. Maybe up again to confuse everyone.
*SynergyX*
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SaiyanZ
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it couldnt could it.... the inverse bart again
Yeah like so. I think there is room to go up again to test the previous support around $8700.
SaiyanZ
Executive Member
Not sure how to save tradingview charts so this ones a bit messy. Though check the green areas. Price action is similar. We know now that whales were busy accumulating the previous time. Are they doing the same now?
JerryMungo
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Was thinking the same. Maybe not even next year. It'll take longer each cycle to shake the speculators.
SaiyanZ
Executive Member
Something interesting I spotted. Check what happens if you flip the movement at the bottom vs the recent price action at the top. Looks similar.
Essentially the moves are the inverse of each other so we end up making a move down similar to the green line:
Think I'm going to start paying more attention to this one:
If you think we've been in bear / purgatory the last month or two you haven't been paying attention to the altcoin market. There's been plenty profit to be made with well-placed stop-losses to mitigate risk.
SaiyanZ
Executive Member
So we doing this final move down or what?
One more inverse Bart to around $8700 before that if it follows my inverse theory.
That's a called a bear trap
If something goes up 50% and comes down 30%, the whole point of a stop-loss is to sidestep that move down. But sure - if you think labels & generalisations are a better lens through which to view an entire market that's fine. I think you've been paying more attention to memes than markets.
*SynergyX*
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does it matter where we are..heaven...hell..purgatory...sunny beach if you are actively trading...:wtf:
biggest mistake made in crypto is listening to someone else advice period! there is no 2 ways about it!!!
if you made the decision to hodl on your own then good on you ... if you doing it based on some 'experts' call of moon well then you must live with your life choices
biggest mistake made in crypto is listening to someone else advice period! there is no 2 ways about it!!!
if you made the decision to hodl on your own then good on you ... if you doing it based on some 'experts' call of moon well then you must live with your life choices
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Big difference between trading and market conditions.
It's very possible to make profitable trades in a bear market.
But don't fool yourself and think profitable trades means all is well. 80% of the alt coin space must die, most are scams.
Fair enough re. market conditions. However - the general altcoin market the last month or two has been pretty good. Obviously it feels bearish compared to December 2017, but compared to most markets in general - it's felt bullish, despite whatever the larger trend might be. Considering the increase in market cap the last month, the trend certainly has felt bullush.
SaiyanZ
Executive Member
Going according to plan but I might be off on the timing now. Target is around $8700.
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