Bitcoin Thread

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It's been an interesting last 6 hours or so on Bitifnex. A slow decline in the price whilst breaking through one massive buy wall after another. Almost like the price is being driven down by bots for whales to buy in.
 
SaiyanZ said:
I've seen a few guys on Tradingview saying we going to $6000 again for a double bottom to end the correction. If true, things should liven up soon.


Edit: If Zuma gets the boot tomorrow I think we might see more strengthening of the Rand. So another percent or two knocked off the Luno price.
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Aaayyyyyyy . We shall see how it goes
 
CryptoserA said:
I take a slow and steady uptrend over a fast price hike followed with a big crash any day!
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As long as things are moving then I am a happy man. If they are too steady then I am not getting any rewards and that’s not good
 
Stock markets are down again like on Monday when we dropped to $6k afterwards. Any correlation there and repeat expected today?
 
SaiyanZ said:
Stock markets are down again like on Monday when we dropped to $6k afterwards. Any correlation there and repeat expected today?
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I think we will go down to at least $7000 again probably today and over the weekend. Maybe $6500. Then middle next week, a new Bull trend will start. Or after the 16th.

Just my thoughts, and I am probably wrong :)
 
I wonder who is running bots that place orders of 5.2btc and 3.0btc at a time on a dead (low volume) exchange like Luno.
 
Krypt0n1te said:
If we can reach R125k on Luno again this week or the next I will become more bullish. We first need to break that insane down channel on the monthly.
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Target adjusted, if we can now see R115k to R118k we might have a reversal. If not; even dead on R60k is possible. Monthly down channel still safely intact.
 
My uneducated guess is that we'll start seeing a consistant but slow and steady climb again by end of Feb, then we should be at Nov 2017 prices again by July or so.
 
bigboy529 said:
My uneducated guess is that we'll start seeing a consistant but slow and steady climb again by end of Feb, then we should be at Nov 2017 prices again by July or so.
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Thus far seems to be trading in a slow and steady pattern. Seems some people are still waiting to see if this 8k plus holds or if it bottoms out at 5-6k.

The magic date the OG's talk about is when the Chinese lunar new year ends (16th feb ?) we should see some really positive action in the market. What's positive for me is that even that btc is trading relatively flat the market cap has gained almost 100 bil the last few days.
 
Krypt0n1te said:
Target adjusted, if we can now see R115k to R118k we might have a reversal. If not; even dead on R60k is possible. Monthly down channel still safely intact.
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Ok guys, monthly downtrend clearly broken. We'll most likely see a retest of the support line at around R95k to R96k. If support hold I'm getting bullish. If support fail we are back in the channel and R40k is very probable.
Since the down channel is so severe these levels change on a daily base.
Cheers!

Edit: I didn't mention upside... Think R125k is on the cards, if we break that we are going to R149k.
 
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Krypt0n1te said:
Ok guys, monthly downtrend clearly broken. We'll most likely see a retest of the support line at around R95k to R96k. If support hold I'm getting bullish. If support fail we are back in the channel and R40k is very probable.
Since the down channel is so severe these levels change on a daily base.
Cheers!

Edit: I didn't mention upside... Think R125k is on the cards, if we break that we are going to R149k.
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What exactly do you mean when you say you will be getting bullish?
 
Slootvreter said:
What exactly do you mean when you say you will be getting bullish?
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Bullish vs Bearish and Hawkish vs Dovish is ways to express positive and negative sentiment in financial markets. Not sure why they don't just say so!

Thus if we have a failed re-test and the price start moving up again I will become positive and start to accumulate more.

This is bog standard Technical Analysis and is prone to fail often so always make your own decisions and see levels posted as "areas" where price action will be. It almost always overshoots specific levels to give false security just for the price to move in the opposite direction again.

TLDR; if we don't fall back in the channel I'll be more confident and buy more.
 
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