So we looking to go down further then possibly?
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So we looking to go down further then possibly?
gripen5221
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What we have seen thus far is just a Retracement of the leg from 7050 up to 7700. IF there was volume, we would have pushed to 7900. Alas, there is none right now. So a retest if 7200-7250 looking very possible.
Don’t expect the previous low at 7050 or so to fail.
Don’t expect the previous low at 7050 or so to fail.
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JerryMungo
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Which order book is that?
SaiyanZ
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So it managed to make it back into the bottom of the wedge. I've noticed a pattern that occurred before we reached the previous high. So applying the opposite to the current situation we would do something like the below for the next 4 days. Maybe a little higher and then fairly steep down to around $6800/$6900. Maybe reverse there but can't really say.
Close enough so far. It just didn't do that false breakout upwards from the wedge.
Edit: Zoomed in to the 5m view. It looks like the next drop will come out of this wedge. I don't think it will break above the overhead pink resistance line given how it has reacted to it over the last few days.
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*SynergyX*
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whos with me with that speculative 6th of June long
when moon 6th of joon!!!
when moon 6th of joon!!!
The opposite.whos with me with that speculative 6th of June long
when moon 6th of joon!!!
Just like Consensus.
*SynergyX*
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at least a dead cat bounce no.....
rsi i dead...has to release some steam sooon
i hope the big move comes tomorrow- -- dump or pump let it come
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SaiyanZ
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Bitfinex is down for the 2nd time today. They had about an hour of unplanned maintenance a few hours ago. They're down again now for another hour and counting.
Hmmm...
A drop down to $6800 would be nice.
But so would some consolidation and a gradual reversal of this downtrend.
SaiyanZ
Executive Member
Zooming out a bit, the major support is around $6900. Though what are the chances we bounce off it again? It just seems way to easy/convenient. So I think we will go below. How far is the question.
*SynergyX*
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suspected DDos attack
*SynergyX*
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Zooming out a bit, the major support is around $6900. Though what are the chances we bounce off it again? It just seems way to easy/convenient. So I think we will go below. How far is the question.
how far is not the question....we will see $5000... when is the question.
voldoverse
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its been a while, thought id check in a bit and much to my suprize i am greeted with poor numbers, last time i checked we were knocking on 10k usd's door
what happened? will we ever recover again this year?
what happened? will we ever recover again this year?
*SynergyX*
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interest in crypto is basically dwindling by the day... so in short probably not.
SaiyanZ
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Looks like we at another key point here. I moved the resistance line slightly up to where it should be based on recent action. Bounced off it again. If this breaks upwards the drop will be delayed. Probably more boring sideways afterwards too.
Edit: So it broke out above. This move is going to create more indecision and sideways movement I think. People who are waiting for lower prices are not going to buy now so the run will ultimately fail because of lack of buying power.
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*SynergyX*
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in December it was the first word on everyone's tongue ...these days people are embarrassed to engage in a 2 minute conversation bout it because of all the money they lost..
If only it was this easy -
https://pbs.twimg.com/media/De018gRUYAAJj9D.jpg
6th of June 6am :crylaugh:
https://pbs.twimg.com/media/De018gRUYAAJj9D.jpg
6th of June 6am :crylaugh:
SaiyanZ
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After this last move I'm seeing a possible head and shoulder developing if it cannot get past $7800 from here which will take it back down to the previous low.
*SynergyX*
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whos with me with that speculative 6th of June long
when moon 6th of joon!!!
Common jump on....no risk no reward!!!!
SaiyanZ
Executive Member
6th is here. Something major always happened on the 6th in the last 6 months except for April where the spike came 6 days later. 666...
There's also been some interesting price action on Bitfinex in the last 12 hours. Someone sold almost 2000BTC last night pushing the price close to $7500 but it was quickly pushed back to $7600. Also has spiked up (to $7700) and down afterwards with smaller volume but keeps getting pushed back to $7600.
There's also been some interesting price action on Bitfinex in the last 12 hours. Someone sold almost 2000BTC last night pushing the price close to $7500 but it was quickly pushed back to $7600. Also has spiked up (to $7700) and down afterwards with smaller volume but keeps getting pushed back to $7600.
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