Bitcoin Thread

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Only explanation for this move is short squeeze at $8400. Though it might get people buying again after these few days of sideways movement.

Though there were a few largish volume purchases on Luno about half an hour ago when the price was hovering around $8350. So there might be something else up as some people knew the price was going to spike.


Edit: Could be the inverse head and shoulders that triggered the move. If so there could be another move up as the target should be around $8800 but will sit this one out. Sunday is not a great day to trade.

vfGi939D
 
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watching these levels now -- 8850 ish for short around 200ma

and 8300 ish for long - retest of the brekout

8600 comming up.. break of 8550 is going to be explosive again
 
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SaiyanZ said:
Edit: If this follows the previous smaller wedge exactly and we get wedgeception then it will do something like the red line. Main thing is we have to touch $8700 region again before the big move down but there might be one more smaller move to the bottom of the wedge around $7900.

I would prefer it takes the green route though to get this move up and down over with.

2GF1vAXE
Click to expand...

Looks like it ended up following that red path but the breaks upwards are much weaker than expected. Pump and then no volume until next pump.

tFZRp1Qg
 
*SynergyX* said:
watching these levels now -- 8850 ish for short around 200ma

and 8300 ish for long - retest of the brekout

8600 comming up.. break of 8550 is going to be explosive again
Click to expand...

Impressive. Looks like you have put in the time to really master your TA. I have to work harder!
 
anyone want to put their money on the bottom being in (7925)

its like i mentioned in an earlier post --> that 7800 level was way to obvious.

or do you think its going lower--- getting pumped properly this morning lol
 
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*SynergyX* said:
anyone want to put their money on the bottom being in (7925)

its like i mentioned in an earlier post --> that 7800 level was way to obvious.

or do you think its going lower--- getting pumped properly this morning lol
Click to expand...

I bought some but am thinking of getting out. It spikes and then goes back down immediately. I don't have the patience at these price levels to wait another 12 hours for the next move because a lot can happen in that time.

Edit: This is also the fractal I'm seeing. Compare the purple line to the green line. Exactly the same movement.

EdLP5X8n
 
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SaiyanZ said:
I bought some but am thinking of getting out. It spikes and then goes back down immediately.
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Waiting to see what happens if/when it pulls back to the 50 MA shown below (4HR, yellow line)). If it finds support or falls through.

avg.png
 
Anyone else see FluffyPony (Monero developer from South Africa) at consensus with an $800k watch :wtf:, and here we are charting a few $100 swings lol
 
L10Yn said:
Anyone else see FluffyPony (Monero developer from South Africa) at consensus with an $800k watch :wtf:, and here we are charting a few $100 swings lol
Click to expand...

we are late adopters .... $80 watch is good enough for me.
 
seeing some bearish divergence now--- weak at best though.

one more pump before the dump.... lets c!
 
*SynergyX* said:
only if you willing to short it and play both sides... permabulls may have to wait :D
Click to expand...

Haven't been trading much because of this damn new job, usually just throw some btc at alts on Binance, I find them easier to read at times.
 
I'm in cash now. Have made a decision to stay in cash until it drops big or until there are obvious bullish signs. Would like to get in at around R90k or below on Luno and just hold (plus sell and rebuy cheaper whenever possible).

It might go sideways here for a couple days until people start getting impatient and start buying. That's when the whales will dump.
 
What do you guys think about the bitcoin lightning network? I've heard that the current core bitcoin developers want to take us back to the current banking system, where there will be censorship and no anonymity. I've heard that nodes will be required to have bitcoins int heir nodes, before being able to relay bitcoin through payment channels.
 
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