Bitcoin Thread

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voldoverse said:
i see btc is holding strong and long this weekend, does the experts here think its just gonna run up more or is this the nice ramp before a big fall again as per every last few weekends?
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It 'should' be dropping to late 9k early 10k again over next week or so before next push to 13k+... but I don't really know anymore, I've been 'off' lately, may only be a early to mid 10k or a mid to late 10k/shrug
 
voldoverse said:
i see btc is holding strong and long this weekend, does the experts here think its just gonna run up more or is this the nice ramp before a big fall again as per every last few weekends?
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I'm not an expert but expect it to test the 11,600 resistant points when afternoon trading starts and fail on low volume. This will cause a fall below 11k over Sunday and if it somehow manages to breach 9,200 next week it can be a sell off to 6k. If it manages to pull of nearing 12k however it could have a free run towards 17k.
 
Swa said:
I'm not an expert but expect it to test the 11,600 resistant points when afternoon trading starts and fail on low volume. This will cause a fall below 11k over Sunday and if it somehow manages to breach 9,200 next week it can be a sell off to 6k. If it manages to pull of nearing 12k however it could have a free run towards 17k.
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Lol wtf. So u give every scenario and say it could be any of those. You btc lot are a hoot
 
Interesting that Luno price is roughly equal to the dollar price now. If you believe the premium will return during a strong bull run you could use it to transfer money out now, convert to dollars and then bring it back if the premium returns. Alternately if you wanted to get some money out of SA, it would be a good time while there's no premium. Can even use it to get some dollar exposure if you want and use it to margin lend on an exchange to still get good returns.

Also interesting how luno volume is now only 274 BTC over 24hours. It keeps falling yet they refuse to do anything about the ridiculous fees or improving graphs. I'm sure most of their volume is also from bots with lower fee payments.
 
Looks like we need the whales to push us above 12k or some really good news. The volume has been decreasing as the price goes higher. The recent pattern looks like a rising wedge which normally is the beginning of a drop. On a larger scale there is an inverted head and shoulders pattern where we supposed to break through higher from here.

Hard to tell what's going to happen in the next couple days.

What happened at the end of each wedge:

https://www.tradingview.com/x/zmY5bxcf/
 
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SaiyanZ said:
Looks like we need the whales to push us above 12k or some really good news. The volume has been decreasing as the price goes higher. The recent pattern looks like a rising wedge which normally is the beginning of a drop. On a larger scale there is an inverted head and shoulders pattern where we supposed to break through higher from here.

Hard to tell what's going to happen in the next couple days.

What happened at the end of each wedge:

https://www.tradingview.com/x/zmY5bxcf/
Click to expand...

although of late... the bearish patterns have been quickly reversed on the shorter time frames...

id like to see btc atleast test 12k then get p*** klapped at 12k...all the way back to 10k.
 
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*SynergyX* said:
although of late... the bearish patterns have been quickly reversed on the shorter time frames...

id like to see btc atleast test 12k then get p*** klapped at 12k...all the way back to 10k.
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I've been in cash since we dropped from $11.1k to $10.8k on Thursday evening. Luno didn't react much to the drop so I've just been waiting and watching since then. So I don't mind a drop to around $10.5k right now.
 
SaiyanZ said:
I've been in cash since we dropped from $11.1k to $10.8k on Thursday evening. Luno didn't react much to the drop so I've just been waiting and watching since then. So I don't mind a drop to around $10.5k right now.
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looks really well supported at the moment, dont know if we will see below 10.8k again...hell we may not even see below 11k after the support it found at 11050

looking good for a break upward...Murica to the frontlines!!!!
 
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*SynergyX* said:
looks really well supported at the moment, dont know if we will see below 10.8k again...hell we may not even see below 11k after the support it found at 11050

looking good for a break upward...Murica to the frontlines!!!!
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moon soon....thrusters engaged!!!
 
L10Yn said:
Interesting that Luno price is roughly equal to the dollar price now. If you believe the premium will return during a strong bull run you could use it to transfer money out now, convert to dollars and then bring it back if the premium returns. Alternately if you wanted to get some money out of SA, it would be a good time while there's no premium. Can even use it to get some dollar exposure if you want and use it to margin lend on an exchange to still get good returns.

Also interesting how luno volume is now only 274 BTC over 24hours. It keeps falling yet they refuse to do anything about the ridiculous fees or improving graphs. I'm sure most of their volume is also from bots with lower fee payments.
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The premium has been gone since Cyril's election but it also disappeared from the Korean exchanges so I don't think it has anything to do with the regulatory or political landscape of either. Volumes the world over have decreased as people become disinterested in cryptocurrencies. Has nothing to do with Luno or any other exchange. You can't have more than 100% of a pie.

SaiyanZ said:
Looks like we need the whales to push us above 12k or some really good news. The volume has been decreasing as the price goes higher. The recent pattern looks like a rising wedge which normally is the beginning of a drop. On a larger scale there is an inverted head and shoulders pattern where we supposed to break through higher from here.

Hard to tell what's going to happen in the next couple days.

What happened at the end of each wedge:

https://www.tradingview.com/x/zmY5bxcf/
Click to expand...
Personally I think it's because everybody has money. Will soon tire out as we reach the middle of the month.
 
*SynergyX* said:
looks really well supported at the moment, dont know if we will see below 10.8k again...hell we may not even see below 11k after the support it found at 11050

looking good for a break upward...Murica to the frontlines!!!!
Click to expand...

Can I ask what indicators/ charts you look at and how you came to this conclusion? I just started learning TA stuff and your predictions are usually quite good. Would appreciate if you explain the reasoning as well.
 
Swa said:
The premium has been gone since Cyril's election but it also disappeared from the Korean exchanges so I don't think it has anything to do with the regulatory or political landscape of either. Volumes the world over have decreased as people become disinterested in cryptocurrencies. Has nothing to do with Luno or any other exchange. You can't have more than 100% of a pie.
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Well yeah I know the premium decreased with the lack of interest because of the correction but it is possible that a huge amount will return with a strong bull run. So you can take money overseas in anticipation of that. If the premium doesn't return you can always just bring the money back.
 
L10Yn said:
Well yeah I know the premium decreased with the lack of interest because of the correction but it is possible that a huge amount will return with a strong bull run. So you can take money overseas in anticipation of that. If the premium doesn't return you can always just bring the money back.
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It's not lack of interested due to a correction. Interest in crypto as a whole is falling. It might get a bit better but I also doubt we'll see Bitcoin at $20k again as that had a lot to do with the huge fees we saw. I think $1000 is a fair price for 1 BTC.
 
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