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Thread: Bitcoin Thread - 2018

  1. #2791
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    Volume is picking up. Something is brewing. Going to ignore the noise and stick to my $7k target.

  2. #2792
    Super Grandmaster saor's Avatar
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    Quote Originally Posted by SaiyanZ View Post
    Volume is picking up. Something is brewing.
    Bart-move down to $6400 maybe.

  3. #2793
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    7k ish -- then below 6k

  4. #2794
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    There seems to be some correlation between the dollar strength and the BTC price recently. When the dollar strengthens the BTC price drops and vice versa.

    The impact is a reduction in BTC price volatility on non-dollar based exchanges.

  5. #2795
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    Quote Originally Posted by balrog View Post
    Fiat is pure evil
    Leave the Fiat alone. It drives just fine.

  6. #2796
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    Squeeze upwards incoming. If it can break above $6550 the move will be more explosive.



    Edit: Went up another $50 while I posted.

  7. #2797
    Super Grandmaster saor's Avatar
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    Quote Originally Posted by SaiyanZ View Post
    Squeeze upwards incoming. If it can break above $6550 the move will be more explosive.
    Potentially stay within this channel.
    Really nice move up that.

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  8. #2798
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    Would be nice to see it form a bullish flag / pennant here or a bit further up and eventually break out further up.
    Last edited by saor; 14-06-2018 at 07:01 PM.

  9. #2799
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    Quote Originally Posted by saor View Post
    Potentially stay within this channel.
    Really nice move up that.
    I see this. It hit the previous resistance/support. Probably lots of stops for shorts just above around $6600. Looked like a strong move so will probably attempt to break through again soon. If it fails to break through we might have some sideways action for a while.


  10. #2800
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    Quote Originally Posted by SaiyanZ View Post
    I see this. It hit the previous resistance/support.
    Ah yeah I didn't even notice your pink line. Cool how your line (pink) also coincides with the horizontal resistance line (red). Nice when things converge to give a clearer indication of things .

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  11. #2801
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    Quote Originally Posted by SaiyanZ View Post
    Apparently the chinese can mine BTC for around $3k currently. So everyone else will switch off but the price can still drop.

    Also won't the difficulty be adjusted downwards if there is less miners/hashpower? So the BTC price can keep dropping irrespective of miners. How was mining profitable when the price was $100? If the price drops we just end up having fewer miners like a year ago.
    Here is the answer I was trying to find the words for.

    The only real risk is if the price goes below $3k and miners leave or sell their hashpower to a third party, exposing a real risk of a 51% attack. The “game theory” that created a second major SHA256 chain may backfire in that case and we would then have 3 chains of significance!
    Vinny

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    Potentially...I don't see the price breaking though right away.

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  13. #2803
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    Quote Originally Posted by Thor View Post
    Here is the answer I was trying to find the words for.



    Vinny
    Ah yeah, a 51% attack is always a possibility. Though BTC would be the least likely crytpo to ever be in that situation from all the cryptos out there I would think.

  14. #2804
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    Quote Originally Posted by saor View Post
    Potentially...I don't see the price breaking though right away.
    Zoomed in on the 5min it's through and that line is now supporting it. Spiking as I'm posting. Though it has come up $250 in the last hour so we might run out of buyers to keep going.


  15. #2805
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    Quote Originally Posted by SaiyanZ View Post
    Zoomed in on the 5min it's through and that line is now supporting it. Spiking as I'm posting.
    Yeah sorry I meant not breaking through the white line in that channel I posted earlier.
    It's pushing for it tho .
    Be nice if it does.

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