Bitcoin Thread

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Swa said:
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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maybe...but not in 2018:whistle:
 
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/
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the rising wedge is still in play...not out the woods yet. but the bears are taking shots left right and center!!
 
Swa said:
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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Well the premium in SA was caused by the demand being way higher than the supply and demand kept rising as people heard about the ridiculous gains without learning much about it. A lot of people put everything in it and then got burned with the huge correction leading to a significant decrease in demand. Supply in SA is also probably much higher now as a lot of people brought in coins to make use of the premium.
 
*SynergyX* said:
the rising wedge is still in play...not out the woods yet. but the bears are taking shots left right and center!!
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Yeah still can go any way. If I was holding I would keep holding but since I'm in cash I will wait and see. Especially since we need a bit of a push to break R140k on Luno. So the price is going nowhere unless we get above $11.7k and hold there for an hour at least. It needs to happen during the day too, not between 12am and 5am.
 
L10Yn said:
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.
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Everyone seems to be using their own method. What's interesting is most use opening and closing values which are arbitrary no matter which ones you use.

*SynergyX* said:
maybe...but not in 2018:whistle:
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Not saying it will ever reach that but it's a fair value considering the fees in order to pay for real world goods and services. Above $10k results in too large fees which is probably why we saw the downward rally and interest fading.
 
SaiyanZ said:
Yeah still can go any way. If I was holding I would keep holding but since I'm in cash I will wait and see. Especially since we need a bit of a push to break R140k on Luno. So the price is going nowhere unless we get above $11.7k and hold there for an hour at least. It needs to happen during the day too, not between 12am and 5am.
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Don't you just hate that when something major happens and it's over before anyone reacts?
 
as long as 11050-11200 area holds, we should see a move up again.
this is a very strong support at the moment. Nothings changed though, still bullish. just needs to cool off a bit after the surge.

breaking below that can take BTC down to ~10800.
 
*SynergyX* said:
as long as 11050-11200 area holds, we should see a move up again.
this is a very strong support at the moment. Nothings changed though, still bullish. just needs to cool off a bit after the surge.

breaking below that can take BTC down to ~10800.
Click to expand...

The next week is quite important I think. People are starting to get bearish again after 2 fails at $11.7k creating a double top. Too soon to call it though if we start to head down to $10k we could go down a long way. Even $6k again.
 
SaiyanZ said:
The next week is quite important I think. People are starting to get bearish again after 2 fails at $11.7k creating a double top. Too soon to call it though if we start to head down to $10k we could go down a long way. Even $6k again.
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only way i see this happening is through market manipulation i.e big whale holders coordinating a dump.

retail holders will never dump this thing back to 6K - they all need it to succeed way more.
 
*SynergyX* said:
as long as 11050-11200 area holds, we should see a move up again.
this is a very strong support at the moment. Nothings changed though, still bullish. just needs to cool off a bit after the surge.

breaking below that can take BTC down to ~10800.
Click to expand...

well then 10800 next bastion of hope...

after that all bets are off on bullish move...
 
Buyers munching up BTC around 10800... buying the DERP as they say.

/could be rekt soon
 
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