Bitcoin Thread

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Countcrypto

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FarligOpptreden said:
He’s been away for months! Wondered what became of him and his millions of mining rigs.
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Seems a wise move really. I don't know if his timing is perfect, but after the double bottom (which we should seem very soon), there's very little doubt BTC is only moving up.
 
SaiyanZ

SaiyanZ

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Countcrypto said:
Seems a wise move really. I don't know if his timing is perfect, but after the double bottom (which we should seem very soon), there's very little doubt BTC is only moving up.
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I'm not so sure now about us bouncing off $6k. BTC is spending too much time in the $6k to $7k region so if we touch $6k we won't pull away from it fast enough so we will only go back down. Think we need to drop fast and pull away fast to well and truly end this bear run.

Ultimately what I think will happen is that we drop below $6k and drift towards $5k over a week. Once it dips below $5k there will be a panic selloff and we then go down quickly to $4k and back to $5k in a few hours. Then a solid bull run for several weeks. Just like when we dropped below $7k on 6th Feb. BTC only took a few hours to go down to $6k and then back to $7k.
 
C

Countcrypto

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SaiyanZ said:
I'm not so sure now about us bouncing off $6k. BTC is spending too much time in the $6k to $7k region so if we touch $6k we won't pull away from it fast enough so we will only go back down. Think we need to drop fast and pull away fast to well and truly end this bear run.

Ultimately what I think will happen is that we drop below $6k and drift towards $5k over a week. Once it dips below $5k there will be a panic selloff and we then go down quickly to $4k and back to $5k in a few hours. Then a solid bull run for several weeks. Just like when we dropped below $7k on 6th Feb. BTC only took a few hours to go down to $6k and then back to $7k.
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I'm not sure about the panic sell off. Anyone still holding BTC probably knows the game by now and is well aware that the only variable in play in lieu of significant news is charting and recognises that 5800-5900 bottom marker. I do think if we hit that magic 5800-5900 we're going to see massive volume (whale action) and big spike.

What happens after ? I wildly speculate a little bounce of the 12 700 back down until a slow build up through Q3 and take off in Q4.

Ah who knows ? It's like poker this.
 
S

Sensorei

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SaiyanZ said:
I'm not so sure now about us bouncing off $6k. BTC is spending too much time in the $6k to $7k region so if we touch $6k we won't pull away from it fast enough so we will only go back down. Think we need to drop fast and pull away fast to well and truly end this bear run.

Ultimately what I think will happen is that we drop below $6k and drift towards $5k over a week. Once it dips below $5k there will be a panic selloff and we then go down quickly to $4k and back to $5k in a few hours. Then a solid bull run for several weeks. Just like when we dropped below $7k on 6th Feb. BTC only took a few hours to go down to $6k and then back to $7k.
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Yes, this bear market isn't over. If we go back to $6500 then we it won't stop there. But whenever we we've hit painful lows since January there has been a decent bounce to make some money. Every time. After learning to control the fud and fomo, best trick any crypto trader noob can learn is to buy at support, sell at resistance without being too greedy, and don't be impatient to enter a trade.

It is more frustrating trading in this bear market with lower ROI, but I see it as practice for making mega bucks when the next big bull run comes. At least some alts are mooning.
 
S

Sensorei

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voldoverse said:
i wish LTC would moon a bit, i keep forgetting i still got some money there when i originally bought in on R3000 per LTC
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Im a big fan of LTC but is not going back to R3000 until BTC has recovered dramatically. There are lots of lower market cap alts with room for more growth in this bloody mess. Every time BTC recovers slightly, albeit temporarily, and does some sideways action there are plenty of big green alt candles.
 
SaiyanZ

SaiyanZ

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Whales at it on Bitfinex again. They managed to drop the price by about $50 before removing the sell orders. Not too much.

bit.jpg


Edit: Seems like we'll go up a little tonight. The whale placed his sell order of 5000btc again at $7k and about 1500 of it was bought up before it was removed. People are not afraid of buying here.
 
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