Bitcoin Thread

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Eish.
The quietness in here = the sideways bitcoin.
Wonder how much longer the price will sideways in this region before breaking out?

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saor said:
Eish.
The quietness in here = the sideways bitcoin.
Wonder how much longer the price will sideways in this region before breaking out?
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Yeah it's pretty quiet. Shorts are also still dropping. I've hardly made any actual trades in the last month. Just waiting for something to happen now.

The way I see it is that we've made a two week high last night but we haven't broken the high from 3 weeks ago ($6850). If that breaks then we'll probably go to $7050 and fall from there. This is a high risk area though so I'm not going to trade that move if it happens.

qmVlax7D



EDit: We also never made a move upwards from a similar area a month ago. So could go sideways a fall again.

BAryc5Xy
 
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I cannot wait for the drop.

This prolonged sideways movement caught even me by surprise.
 
I also can't wait for Btc to bottom or go to zero or pump or do whatever it has to. It is just at this point a distraction from blockchain projects I am invested in like eos and other projects with actual decentralised use cases other than currency. Because for those the absolute corrupt banking system have no way of stopping.
 
Countcrypto said:
I also can't wait for Btc to bottom or go to zero or pump or do whatever it has to. It is just at this point a distraction from blockchain projects I am invested in like eos and other projects with actual decentralised use cases other than currency. Because for those the absolute corrupt banking system have no way of stopping.
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I am a big holder of EOS, but I am having my doubts about that project it's centralized and capatalistic to the core. The excecution is a nighware and the govermence is shady as hell.
 
Thor said:
I cannot wait for the drop.

This prolonged sideways movement caught even me by surprise.
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My personal view on things... we're gonna start seeing a gradual climb over the next month or two to the 10k+ region, followed by loads of fomo towards mid/end nov over the 20k into a new ath by end of year. Whether we have a big drop before that happening over next few days/weeks is anyones guess... I'd say high probability, but caution not to get caught holding the fiat before the climb expecting another dump which never comes /shrug
 
Temujin said:
My personal view on things... we're gonna start seeing a gradual climb over the next month or two to the 10k+ region, followed by loads of fomo towards mid/end nov over the 20k into a new ath by end of year. Whether we have a big drop before that happening over next few days/weeks is anyones guess... I'd say high probability, but caution not to get caught holding the fiat before the climb expecting another dump which never comes /shrug
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If you told me this a month ago I would've agreed. However the volatility seems to have gone and we're going sideways most of the time these days with maybe one or two ok moves a week. Without the volatility the volume being traded is going to continue to decrease as people are going to start trading other assets. Fees are also becoming more of an issue because of the smaller moves causing fewer people to trade. Trading less also causes you to have higher fees.

The result is volume is going to continue spiraling downwards and without enough players in the market, we won't have those major moves upwards again. So there is a chance that we may never even see $10k again and instead go sideways around $6k/$8k for the rest of the year.
 
SaiyanZ said:
If you told me this a month ago I would've agreed. However the volatility seems to have gone and we're going sideways most of the time these days with maybe one or two ok moves a week. Without the volatility the volume being traded is going to continue to decrease as people are going to start trading other assets. Fees are also becoming more of an issue because of the smaller moves causing fewer people to trade. Trading less also causes you to have higher fees.

The result is volume is going to continue spiraling downwards and without enough players in the market, we won't have those major moves upwards again. So there is a chance that we may never even see $10k again and instead go sideways around $6k/$8k for the rest of the year.
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Must say that my gut feeling is also more along these lines, unfortunately
 
Temujin said:
My personal view on things... we're gonna start seeing a gradual climb over the next month or two to the 10k+ region, followed by loads of fomo towards mid/end nov over the 20k into a new ath by end of year. Whether we have a big drop before that happening over next few days/weeks is anyones guess... I'd say high probability, but caution not to get caught holding the fiat before the climb expecting another dump which never comes /shrug
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climb to $7k "big maybe" then drop to sub $5k

Then we will have a steady recovery and climb for 8 - 11 months before the next bull run starts like the BTC 100k crowd bull run.

^that is my feel, at first I thought mmm $6.7k max then drop, but seems BTC wants to test that $7k.
 
For now my best guess is down from here. If you ignore the Bart in blue the price action now vs the price action between $7k and $8k is nearly identical. Drop then triangle, then ascending wedge, then sideways out of it with similar levels being tested.

4XC0BWqO
 
the dollar is a whole different beast, that thing needs to fall hard too.
 
It's broken through a few supports this morning. Looking very bearish. We're in the orange region now. The last two times when in a similar position we dropped a long way and made a new low. So potential breaking of $5800 on the cards.

aM3mwhme


Edit: There is more support this time though at $6300 and $6400.

Edit2: SO $6400 is down as well. I'm trying to see where the bleeding will stop.

If $6300 falls then we'll probably go all the way to $6000. Then if that breaks we go to around $5600. The longer term downtrend support is now quite low at around $5k so doubt we will get there without some rebound first.

uFOSmkSf
 
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still the same play over and over -- short in the range and just wait until something major changes.
 
*SynergyX* said:
still the same play over and over -- short in the range and just wait until something major changes.
Click to expand...

Yeah it's repeating again. Only difference this time is that we have the extra support at $6200 and $6300. So that will hold up the selloff and maybe even trigger a rebound but only up to around $6420 max. I don't see it breaking $6420 for a while because there'll be massive resistance/selling around there.

wGH4Blez
 
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