Bitcoin Thread

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I've been doing a bit of reading on tradingview trying to get more info on the market. Check this 200 Smooth Moving Average on the daily chart. We right on it now but bounced from that area previously.

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However check what happened in 2014 when it got there the 3rd time. It took 14 months to get above it again. It's a pretty scary picture for investors. We in the blue bubble now:

npzBcamd
 
*SynergyX* said:
Bear winter confirmed with close of weekly candle tonight....

needs a close above 7.7k to keep above the 50 week MA. which looks very unlikely with the volume dryer than my butt cheeks in winter.
Click to expand...

this is in relation to the above post -- prepare for bloody monday!!

il be praying for bill gates to buy some coin
 
Too much resistance overhead at the moment. Doubt it will still be around $7300 by midday tomorrow. Max it can do right now is about $7400 and that is dropping as time passes.

LDPmBBIJ
 
[MENTION=59517]SaiyanZ[/MENTION].... And others. I appreciate the graphs and effort in this thread. Keep 'em coming. Thank you.
 
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There's the bounce off the resistance. Hard to say how far it will go down now. It's got those two supports below it but if those fall then it can drop even faster.

ZizFAyqG
 
SaiyanZ said:
There's the bounce off the resistance. Hard to say how far it will go down now. It's got those two supports below it but if those fall then it can drop even faster.

ZizFAyqG
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So you thinking we looking at around $6500 or even lower?
 
weelzSA said:
So you thinking we looking at around $6500 or even lower?
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Yeah it's looking like it at the moment. It's really up to the whales with big money now to decide how far down we go. Supports are just failing one after the other. Zoomed in, this is how I see it dropping unless the whales come in and give us a huge green spike to break those resistance levels.

p6Gl50Aw
 
SaiyanZ said:
Yeah it's looking like it at the moment. It's really up to the whales with big money now to decide how far down we go. Supports are just failing one after the other. Zoomed in, this is how I see it dropping unless the whales come in and give us a huge green spike to break those resistance levels.

p6Gl50Aw
Click to expand...

Yeah I’ve cancelled my buy order and will wait to see what happens today - had it at $7150 but let’s see how it goes.
 
Bigger picture looking like this but it's quite a steep drop to around $6600 so not sure if it will happen. Descending wedge is in the making if it stays within those blue lines whilst it goes down.

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Edit: Something else also to be aware off. Every major dump in the last week came immediately after the price pumped up around $100. Makes it difficult to trade and buyers will be losing confidence after so many pump fails. So pumps should continue to get weaker as fewer and fewer people buy into them. It's like the boy who cried wolf. Traders will never know which is the real move up.

mdrLIHMk
 
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but we will know the real move up -- $1000 green dildo...until then pump and dump
 
*SynergyX* said:
but we will know the real move up -- $1000 green dildo...until then pump and dump
Click to expand...

A small squeeze to about $7500 looks possible in the next couple days. Wouldn't bet on it because there is heavy resistance between $7300 an $7500 but there is a wedge forming here. This move would invalidate the bigger wedge though.

FGPzoDDG
 
saor said:
Waiting to see where it stops...
Click to expand...


I think the key point for the next two days is the $7050 area. If it bounces there then it could go up to around $7500 or even $7800 with the wedge. If that breaks then we should reach $6800 very quickly.

Edit: The small descending wedge is still in play. If it breaks through the lower support then it should drop fast. BTC is still hanging on for now though.

RnZtWAYR
 
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Weeeeeeeeeee......no bounce...no beuno!!!

Down we go...hodl your coin hodl them tight!!!
 
opened a 50x leverage short .... ;) (il stop out at 7.4)

5k cant come soon enough....
 
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