Bitcoin Thread

Status
Not open for further replies.
Swa said:
Record number of whales moving BTC to exchanges. BTC hit a double top. Altcoins fizzled out again after failing to show gains. Better hold on to your ponies because this might make the crash of 2018 look like a walk in the valley.
Click to expand...
Double top needs confirmation with a break below previous support level. Not there yet.

I reckon Whales will wait for a pump to $22-$23K before they dump. I'm holding half my BTC and sold half to buy the dip. This is starting to look like a breakout but would be better for a higher all time high if we see a correction first. I've been expecting a correction but every TA pointing to a correction lately has been smashed by the bulls.
 
Sensorei said:
Double top needs confirmation with a break below previous support level. Not there yet.

I reckon Whales will wait for a pump to $22-$23K before they dump. I'm holding half my BTC and sold half to buy the dip. This is starting to look like a breakout but would be better for a higher all time high if we see a correction first. I've been expecting a correction but every TA pointing to a correction lately has been smashed by the bulls.
Click to expand...
I don't know why a higher all time high is expected following a correction rather than a correction after the all time high we had. This could also be building to a bull trap with a major correction following.
 
Swa said:
I don't know why a higher all time high is expected following a correction rather than a correction after the all time high we had. This could also be building to a bull trap with a major correction following.
Click to expand...
I wasn't as bullish after the recent ATH, but we've had 2 weeks of consolidation where every day it is pointing more to a continuation of the bull run. Every dip is being bought up convincingly. After 2017's ATH BTC lost 55% value in 4 or 5 days. This doesn't look anything like that.

$17K short term correction looks far less likely now than a week ago. More likely a $18K dip with a bounce to consolidate above the 20 day MA which should be 18500-18600 if we dip. We'll be shaking out the week hands who will be bought out by the bulls. But because who the hell really knows with crypto I've sold just over half my BTC and am holding the rest with buy orders set at just over 18200 and 18600. Let's see!

The game has changed now with institutional investors who see BTC as a digital asset to rival gold in the future, and Paypal and Square allowing crypto spending. Weak hands will be bought out mostly by institutional buyers. BTC's value is far less speculative than in 2017 when it was still all dreams based on amazing tech.
 
Sensorei said:
I wasn't as bullish after the recent ATH, but we've had 2 weeks of consolidation where every day it is pointing more to a continuation of the bull run. Every dip is being bought up convincingly. After 2017's ATH BTC lost 55% value in 4 or 5 days. This doesn't look anything like that.

$17K short term correction looks far less likely now than a week ago. More likely a $18K dip with a bounce to consolidate above the 20 day MA which should be 18500-18600 if we dip. We'll be shaking out the week hands who will be bought out by the bulls. But because who the hell really knows with crypto I've sold just over half my BTC and am holding the rest with buy orders set at just over 18200 and 18600. Let's see!

The game has changed now with institutional investors who see BTC as a digital asset to rival gold in the future, and Paypal and Square allowing crypto spending. Weak hands will be bought out mostly by institutional buyers. BTC's value is far less speculative than in 2017 when it was still all dreams based on amazing tech.
Click to expand...
Could agree with that if it wasn't for the fact that all of these high targets have missed their mark. Bitcoin being less speculative is precisely the issue, it's much less likely it will see breakout. But this is Bitcoin so we will see. Just don't think the days of 1000% gains will ever materialise again without the bubble bursting.
 
I'm done commenting even - I'll just observe from here onwards
 
callvm said:
I see what you're saying - I meant the highest price ever recorded though. Either way, it's exciting times
Click to expand...
you were wondering about the official ZARBTC all time high ... 17 December 2020 around 6:20am-ish, it sold for a perfect round 320000 a number of times at the time of this post:
1608178960505.png
 
Quintrix said:
And just as you were typing that......
Click to expand...
funny thing is since it hit 320k for the past 10-20min every single bid/ask is 319999, 320000, 320001, 320002

humans, such fickle creatures we are to fixate around a round number as if it matters in the great scheme of things, someone hunting for stops ... but everyone is doing it, so that hunt won't be successful

EDIT: oh and of course the new ATH broke on the 3 year anniversary of the last ATH, to the day
 
Last edited:
NarrowBandFtw said:
funny thing is since it hit 320k for the past 10-20min every single bid/ask is 319999, 320000, 320001, 320002

humans, such fickle creatures we are to fixate around a round number as if it matters in the great scheme of things, someone hunting for stops ... but everyone is doing it, so that hunt won't be successful

EDIT: oh and of course the new ATH broke on the 3 year anniversary of the last ATH, to the day
Click to expand...
The ATH broke on the 17th. Yesterday was the 16th. Unless it really breaks today, which is something to consider.
 
Status
Not open for further replies.
Back
Top
Sign up to the MyBroadband newsletter
X