Bitcoin Thread

[SaiyanZ]

I think we'll retest $6200 again in the next couple days and bounce from there.

 

[Thor]

Get ready for the biggest dip -- we are nearing the end now this month is going to be wild.

 

[Countcrypto]

Get ready for the biggest dip -- we are nearing the end now this month is going to be wild.

Wildly great for anyone who holds crypto. Dip after already after such a shake off ? I am interested in the what you suggest the motivation of people will be to sell their btc at a loss ? Wouldn't they rather just hold it ? I mean anyone who invested money they could not afford to lose already bricked it and sold off (weak hands) and those left are rather agnostic right now and waiting to see.

The only thing that could cause btc to fall now is institutional manipulation and even that would be a testament to how powerful and dangerous the concept of blockchain is , because they would have to lose money to do it.

 

[Thor]

Wildly great for anyone who holds crypto. Dip after already after such a shake off ? I am interested in the what you suggest the motivation of people will be to sell their btc at a loss ? Wouldn't they rather just hold it ? I mean anyone who invested money they could not afford to lose already bricked it and sold off (weak hands) and those left are rather agnostic right now and waiting to see.

The only thing that could cause btc to fall now is institutional manipulation and even that would be a testament to how powerful and dangerous the concept of blockchain is , because they would have to lose money to do it.

Everyone cries manipulation every year since 2011, where were you manipulation guys in the 4 bull runs?

Bitcoin is going down sub 5k, this bear market is not over yet, maybe we'll see a bit of a push towards 7k, but that doesn't change the trend, we don't have a bottom yet.

 

[Countcrypto]

I am not crying manipulation. But we have a bottom. If anything we have a tripple bottom and bullish divergence. A trip below 6k is very likely manipulation. Maybe we do need more of a shake out towards 5k but if it comes in the form of huge histrionic sell offs be sure that wasn't a trade made with profit as motive, nor even fear of loss.

 

[saor]

I think we'll retest $6200 again in the next couple days and bounce from there.

Gonna be watching that price carefully and avoiding trading in the meantime.

(Not [MENTION=515641]Any[/MENTION]one in particular....)
Was just looking at the weekly chart again and if price is to move back toward that main green support line there's likely a fairly long consolidation & recovery period ahead of us. There's very few markets where a protracted pullback / correction just immediately bounces back to new highs - there's a lot of sideways movement. I'm amazed at some of the price predictions people make thinking bitcoin will just hit bottom and bounce right up again. Of course anything could happen tho.

 

[Thor]

Gonna be watching that price carefully and avoiding trading in the meantime.

(Not [MENTION=515641]Any[/MENTION]one in particular....)
Was just looking at the weekly chart again and if price is to move back toward that main green support line there's likely a fairly long consolidation & recovery period ahead of us. There's very few markets where a protracted pullback / correction just immediately bounces back to new highs - there's a lot of sideways movement. I'm amazed at some of the price predictions people make thinking bitcoin will just hit bottom and bounce right up again. Of course anything could happen tho.

View attachment 533193

This every bear market I've been in worked like this, btc drops (bear market lasts long) hits bottom finnaly (we haven't) and then it's sideways for months I think the last one in 2014 was like 14 months? Just remember it felt incredibly long then its a gradual climb into the next bull cycle.

Guys going 100k, 200k btc this year. - - you can't call top if we don't even have a bottom yet.

Will it his those number, yes and more, but not in the time frame (rich by Friday) most have in mind.

 

[SaiyanZ]

I am not crying manipulation. But we have a bottom. If anything we have a tripple bottom and bullish divergence. A trip below 6k is very likely manipulation. Maybe we do need more of a shake out towards 5k but if it comes in the form of huge histrionic sell offs be sure that wasn't a trade made with profit as motive, nor even fear of loss.

You were saying something similar just 4 weeks ago when the price was around $7800 and we dropped another 25% afterwards. Whale traders control the price and they can make money both ways. So in their eyes there's no need for a $10k BTC unless the price stops moving much and they need more people to join the market. They could get that additional volatility again by dropping the price further as well.

I just want to know where the bearish steam is going to keep coming from. Not many dumps are profit taking at this point. The volume is dwindling daily. For people to rationally sell btc at these levels they need to have bought it lower and well....basically the thing is oversold. A bearish continuation at this point is purely emotional.

Yes, I'm not claiming it's boom time. I'm just saying needlessly bearish sentiments are unfounded and there's just no steam for the thing to drop drastically as some are claiming. It will follow the path of least resistance which for now seems sideways.

As for the bottom it can be argued it's showing a potentially bullish triple bottom.

 

[Countcrypto]

No

You were saying something similar just 4 weeks ago when the price was around $7800 and we dropped another 25% afterwards. Whale traders control the price and they can make money both ways. So in their eyes there's no need for a $10k BTC unless the price stops moving much and they need more people to join the market. They could get that additional volatility again by dropping the price further as well.

I was saying the same thing when the price was about the same, not 7k. Please keep your emotions in check and don't lie over spilt milk. It is a total bald face lie and entirely misrepresenting my.position that I would say anything similar at 7800 levels...how is that a triple bottom ?

Look at the rsi and look at the divergence and tell me there is an objective basis for your wonky theory that we haven't found the bottom yet.

Could btc go lower ? Sure. Would it happen based on anything rational or profit pursuing ? No.

 

[SaiyanZ]

NoI was saying the same thing when the proce was about the same, not 7k. Please keep your emotions in check and don't lie over spilt milk. It is a total bald face lie and entirely misrepresenting my.position that I would say anything similar at 7800 levels...how is that a triple bottom ?

Look at the rsi and look at the divergence and tell me there is an objective basis for your wonky theory that we haven't found the bottom yet.

Could btc go lower ? Sure. Would it happen based on anything rational or profit pursuing ? No.

Lol what :crylaugh:

You do know that we can just click on your post to see the timestamp and what the price was doing at the time?

 

[Countcrypto]

Lol what :crylaugh:

You do know that we can just click on your post to see the timestamp and what the price was doing at the time?

Then please do it. I was entirely bearish at 7800 levels. Did I not think it would go down below 6800 ? Not even. I have held to the idea there was no momentum below 6k because there simply isn't.

 

[SaiyanZ]

Then please do it. I was entirely bearish at 7800 levels. Did I not think it would go down below 6800 ? Not even. I have held to the idea there was no momentum below 6k because there simply isn't.

Here's one pic. You just have to click the arrows next to the name to go back to an old post.

 

[Countcrypto]

Here's one pic. You just have to click the arrows next to the name to go back to an old post.

View attachment 533205

Honestly I can't read that chart even if I maximise it. My position on btc price has for a long time been about it has bottomed out at 6k levels twice and a third time would be the maximim any profit taking individual would seriously either have sold before the third or taken a long position when we reached it. There is no trade to make below 6k levels that is a profitable one for anyone who bought later than September 2017 and far too many greater fud/bear moments that would have shook them out.


Those still holding btc at these levels won't sell it based on anything rational. And there is no news to suggest they even should consider it. So if there is any major sell off from these levels (not standard day trading stuff...I mean total whale dumps) whoever does it is not making a trade for profit. And yes , market manipulation is the cause. And not likely from individuals this time.

 

[saor]

Honestly I can't read that chart even if I maximise it.

The price was $7500.

 

[SaiyanZ]

Honestly I can't read that chart even if I maximise it.

That's why I said you can go back to the original posts and quotes by clicking on the arrows next to the name. Mybb reduces the quality of image uploads. The price was between $7500 and $7800 for several days after bouncing from $7050 when you were talking about triple bottom and lack of bearish steam. We hadn't been below $7k for almost two months at the time.

Nonetheless. Keep denying.

 

[Countcrypto]

The price was $7500.

IF so.. my sentiments and observations as per my above post remain the same. No rational or logical reason for the drop and I will double down even now and claim any sell offs at these levels are not profitable and evidence of market manipulation.

 

[broadone]

Quote,`if there is any major sell off from these levels (not standard day trading stuff...I mean total whale dumps) whoever does it is not making a trade for profit.'

That's too over-simplified and presumptuous.

For example, if a whale knows they can drop the price by X % through a big dump, then either themself or some of their buddies could short with a big amount with good leverage to make big profit.

Remember if you control the market to a certain degree (either through collusion or manipulative tactics) then it doesn't matter if it's a bear or bull market - you have enough money and knowledge to profit either way.

Good traders make profit in bull or bear markets.

And there is TA that clearly shows that the price of BTC could drop to as low as the $4400 range. So while it seems like a bottom may have been found (for now), the bears know that there are buyers waiting below $6k and they could drop the price even more.
I know myself and others would be willing to buy if it drops sub $5k...

 

[Countcrypto]

That's why I said you can go back to the original posts and quotes by clicking on the arrows next to the name. Mybb reduces the quality of image uploads. The price was between $7500 and $7800 for several days after bouncing from $7050 when you were talking about triple bottom and lack of bearish steam. We hadn't been below $7k for almost two months at the time.

Nonetheless. Keep denying.

I am not denying anything but to be honest the only rational drop you could have predicted at that level would be to 6k. Sure I would not call you a mad man for making that call. I still would have thought you were mad for predicting below 6k which did happen. I am just approaching this from a "cui bono" perspective. Assesing what level makes sense and to whose benefit. Below 6k doesn't make sense to me from a profit taking individuals perspective given all the news has been positive. It reeks of manipulation now and apparently to me at 7k it did too.

It demands a degree of absurdity however to believe a move below 5k can happen without somehow whale investors have aquired a taste for hari kiru. Nobody can convince me that somehow that is a rational outcome after three times defending the 6k level.

Sure some whale can sell off his btc so that he can buy in at lower levels....but that is called market manipulation. My claim is if there is no manipulation the price should not go lower.

 

[saor]

IF so.. my sentiments and observations as per my above post remain the same. No rational or logical reason for the drop and I will double down even now and claim any sell offs at these levels are not profitable and evidence of market manipulation.

If you look at the NASDAQ charts as the bubble exploded in 2000 - were those low levels also due to market manipulation? If they were - then manipulation is just a normal part of every market. If they weren't and people were on edge and selling at any sign of weakness - why is that not a suitable explanation for what we're seeing now? Whatever the explanation is, I don't see the answer as being especially unique to crypto, although the lack of experience among it's participants might be a good reason for why we see panic selling.

NASDAQ:

 

[Countcrypto]

If you look at the NASDAQ charts as the bubble exploded in 2000 - were those low levels also due to market manipulation? If they were - then manipulation is just a normal part of every market. If they weren't and people were on edge and selling at any sign of weakness - why is that not a suitable explanation for what we're seeing now? Whatever the explnation is, I just don't see the answer as being especially unique to crypto, although the lack of experience among it's participants might be a good reason for why we see panic selling.

NASDAQ:
View attachment 533215

Well if you ask me to predict the price of any commodity must I factor in market manipulation ? Then yes, I agree that btc might not bottom at 6k and go down further.


Asked to assess it only based on rational, healthy, good faithed trading, there is no way it should go below 6k. The people on "edge" have surely left the market by now after 3 white nuckle opportunities to escape the probability of btc going to.zero. Those left are agnostic about the price.