Bitcoin Thread

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saor said:
I'll thumbsuck some bullish optimism :p.
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I found a couple more similar situations. The trip down, the two lows, then the spike up. Seems from this that a likely possibility is a retest of $6300 as a minimum with possibility of $6000/$6100 being retested as well.

E7VORStN
 
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SaiyanZ said:
Seems from this that a likely possibility is a retest of $6300 as a minimum with possibility of $6000/$6100 being retested as well.
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I'm just gonna throw out bullish scenarios :p.

(4HR)
grip.png
 
saor said:
I'm just gonna throw out bullish scenarios :p.
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Anything is possible. Though to go up from here again after these two moves up (and previous bearish action) without going down would be something that hasn't happened for over 4 months.

Edit: Possible ascending wedge forming like so. Quite a steep one:

vmWNejby


Not sure if it will go up more from here. Could break when it gets close to the resistance.
 
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This price action now reminds me of the time a few weeks ago when we toyed around a long term downtrend. Had a lot of boring sideways action for a while.

gKykTDLV
 
Avoiding the inevitable - I was early with my $4900 call, but it's still there now I think run to $7k and then HARD down.
 
saor said:
:p

I don't think anyone saw that green candle coming tho.
Seriously looked like another drop was incoming.
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Yeah surprising move. Broke out of the wedge and then back in. Normally you'd expect it to fall whilst trying to get back in. So something like $6650 should have been the max on this move.

IosybuQL
 
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*SynergyX* said:
have a look few post back -- prime shorting zone;)
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Might drop back to $6400 and up again to $6700/$6800 to make an inverse head and shoulders. The one in Feb/March was a massive trap where whales offloaded whilst people bought and waited for the imminent upwards breakout which never happened. I just have this bad feeling that something like that could happen again where we drop almost 50% in a month.

FHQqDQ7e
 
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2000 btc buy volume spike on Bitfinex just now. No price spike though. So whale bought out another whale.

SJArV0kX


Edit:

The 2k BTC buy was actually a short position being closed. Interesting.

1wuNC4JT
 
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