Bitcoin Thread

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phly said:
Bitcoin moved 8% in one day! Bitmex was even trading higher than bitfinex sometime earlier today. Marketcap crossed above 200 Billion and Bitcoin's dominance almost at 60% - Shorts have come down abit and longs have shot up. I don't know if we have much higher to go. I just want to see a proper well deserved dump. I still think 4k target is still on the cards before an actual proper bull run.
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These parabolic moves have always pulled back sharply in the past. Not many in the chart. If it plays out the same, a sharp pullback to at least $6k is very likely.

QONs9Ng6
 
SaiyanZ said:
These parabolic moves have always pulled back sharply in the past. Not many in the chart. If it plays out the same, a sharp pullback to at least $6k is very likely.

QONs9Ng6
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Sharp to me means 4k.

Pull back to 6k is bull market.
 
phly said:
Bitcoin moved 8% in one day! Bitmex was even trading higher than bitfinex sometime earlier today. Marketcap crossed above 200 Billion and Bitcoin's dominance almost at 60% - Shorts have come down abit and longs have shot up. I don't know if we have much higher to go. I just want to see a proper well deserved dump. I still think 4k target is still on the cards before an actual proper bull run.
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This is very odd. There was no proper testing of supports as it just kept going up again after ever dump. Next support is probably around $5500 region so if there's an attempt to break through it could end up at $4850 where the next major support is. If there's another sell-off we could see sub $4000 again.
 
Temujin said:
Nice to see luno in 6 figures again... see nothing much has changed on it(although is that a limit order option now?) anyway see its still clogged up with one dude 60btc or so spread over 1... would have thought by now they would have moved it to a big exchange where they can actually make money, oh well, each to their own /shrug
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That option to prevent an accidental spot trade has been there for a while. Trying to trade more than 10BTC on Luno is just idiotic.
 
Swa said:
This is very odd. There was no proper testing of supports as it just kept going up again after ever dump. Next support is probably around $5500 region so if there's an attempt to break through it could end up at $4850 where the next major support is. If there's another sell-off we could see sub $4000 again.
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Try telling that to everyone who is on FOMO mode eyes fixed on 10k. And given how rapid we rose from 4k to 7k in about a month can you blame them. I am just waiting for the rug to be pulled from under. On the other hand people believe it will be alt season soon. By the way there is a gap somewhere around $4850 and those tend to get filled so I have my eyes on that as well.
 
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Been a good day... but I'm thinking its soon at its end for now:unsure:
 
Luno in fomo mode again. Always happens at the end of a run so possibly a good indicator that things have stalled for now.
 
Was looking at the size of the current uptrend. This is already so huge and even double the size of a couple moves up in 2018. This has to have a correction, possibly a very big one, especially with no real news/reason for BTC to have the biggest move up since the 2017 bull run.

CFluuZWt


I ignored the wicks as very few would gotten in/out in the wicks.
 
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I just installed a Bitcoin price ticker extension in chrome and it's been hella fun to see it running mad. I should've done this years ago.

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If FOMO hits social media, expect upward trend.
 
I think even retail investors see that this is not a normal trend and also they will be cautious after being burnt from the last run up. Funny enough - word on the street was - if the rumours of Bitfinex not having enough money to pay the shorts is true - that they actually managed to squeeze the shorts out and the shorts are now almost at par with longs. Shorts at 26k and longs at 22k. How the exchanges strong armed the events/narrative to such an extent that shorts got squeezed out avoiding payout is just incredible. $7471 was the high today. Tomorrow we not only get a new daily candle but a new weekly candle. Binance is also supposed to resume/open up deposits and withdrawals.

I don't know how much longer this is going to go on - but i'm tired of constantly pushing my fib levels up to accommodate the new highs being made daily.
 
Shorts are getting rekt, don't think anyone saw this pushing above 7k so easily.
 
SaiyanZ said:
Was looking at the size of the current uptrend. This is already so huge and even double the size of a couple moves up in 2018. This has to have a correction, possibly a very big one, especially with no real news/reason for BTC to have the biggest move up since the 2017 bull run.

CFluuZWt


I ignored the wicks as very few would gotten in/out in the wicks.
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Bears getting salty.
 
4cer said:
Shorts are getting rekt, don't think anyone saw this pushing above 7k so easily.
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Yeah, just a few days back I was expecting the 6.3k push, then to chip away slowly at the resistance... didn't see 6.3k breaking so fast, let alone 7k and 7.4k today already... honestly thought we'd spend a week or 2 in the early 6's
 
Temujin said:
Yeah, just a few days back I was expecting the 6.3k push, then to chip away slowly at the resistance... didn't see 6.3k breaking so fast, let alone 7k and 7.4k today already... honestly thought we'd spend a week or 2 in the early 6's
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I thought $5800 would be tough to stay above. After that broke it's constantly being pushed up. It's pretty well planned out it seems. The group(s) that planned this pump new that people or other groups would load up on shorts around $5800. So they squeezed and squeezed. I think they knew that if it fell back to below $5800 at any point, it would be one massive rejection so they kept the buying pressure on.

This $7400/$7500 area seems to have been support/resistance often in 2017/2018. Maybe this is where it stops.

JYkx9yLl
 
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