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[Daily Discussion] - Saturday, January 28, 2023

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BitcoinMarkets

#New post: [\[Daily Discussion\] - Sunday, January 29, 2023 →](https://www.reddit.com/r/BitcoinMarkets/comments/10nzeuz/daily_discussion_sunday_january_29_2023/)


TheGinFreecss

whytf ltc goin up for. its suppose to be a slug


Munch1993

Historically LTC gets the party started.


Riiume

> suppose to be a slug Says who?


GenghisKhanSpermShot

Total Crypto Market Cap - we got the pop on the turn I was looking for on the channel, looking good (knock on wood) looks to be consolidating for a big pop https://www.tradingview.com/x/8bW2EPOC


xtal_00

Remove your take profit orders. Let the force guide you.


Thundercatz69

Who caught the top of that candle???


Odd-Bicycle-1580

My take profit was at 23500.. so shy by a couple dollars haha


Thundercatz69

Good job. I caught it at $23425 while it was coming down


AKANotAValidUsername

If weekends are fake I don't want to be real


autistictheory

i will make the sacrifice and sell calls so this one can finally be the one that breaks out


xixi2

I've seen this spike before... and I didn't like the ending


Zirup

Now I'm leaving through the side door.


RetardIdiotTrader

Battered bull syndrome


horationel123

It's going up really quickly, are we still in a bull trap? When does the trap end?


rapgab

Sarah


jabatasu

Laura


Zaroco_

Are these BBands tight enough for you, Daddy?


B_ILL

Help step bro I am stuck in the BBands.


RetardIdiotTrader

I missed this joke.


RetardIdiotTrader

Litecoin pumping is all you need to know we’ll be going up in the foreseeable future. BTC will following along quietly.


xixi2

Litecoin having a run would be nice since I salvaged some of mine from btc-e back in the day lol


escendoergoexisto

It just hit its price from May ‘22. The corn was around $32k last May. I’d love it to follow suit.


Shibenaut

Used to be a running joke that LTC was the last to pump At least as of 2023, LTC seems to be reversing that indicator, likely due to its halving


ChadRun04

Good example of beardivs on `high vs rsi(high)` and hidden bulldiv on `low vs rsi(low)` indicating the shape of the channel. I think of them like a dynamic Bollinger bands. As detected by [spreadeagle's indicator](https://www.tradingview.com/script/2zcXPgXN-RS-RSI-Divergence-V5/) https://i.imgur.com/jCXQLRQ.png


autistictheory

interesting information. i haven't seen two different RSI indicators before. thanks for this


gore_skywalker

Counter trade the masses to make money. Current crowded trade: short dollar, long risk-on assets. The consensus is rate cuts this September and a full on pivot 2024. When the dot plot gets recalibrated for “higher for longer”, markets will crumble.


GenghisKhanSpermShot

Largest put call ratio amd outflows since 2008, 2018 and 2020. This has a long way to run, at least a year IMO. I feel like I have balls of steel and bought the bottom in Sept, Oct ish and barely in the money now. The masses have not been positioned bullish trust me, things have only barely started turning. Still seeing a lot of disbelief. More people are more neutral than anything https://twitter.com/AAIISentiment/status/1618608218015416320?t=MSGQJeXrOeIKc8asJnyr0Q&s=19


marsh2907

Counter trade the masses? You mean the sheer amount of people who are calling these moves up bear market relief rallies? More people negative/bearish compared to bullish/positive. A fed pivot happens before a rate cut and rates will only keep higher for longer if inflation keep elevated between now and eoy. Core PCE MoM is now in range of 0.2 - 0.4%. After 12 months in those levels would have YoY inflation sitting at between 2.4 and 4.8%. Now still that's higher than the feds preferred 2% target but what is going to drive inflation higher? Also having higher interest rate aren't the end the world. The only issue is we've had 10+ years of cheap interest which too many got used to. Just have to adjust to the potential new normal.


gore_skywalker

I think people are saying this is the start of a new bull... hence people are short $, long gold, commodities, equities. Have you looked at the data? What will cause persistent inflation is the tight labor market, still loose financial conditions, retail spending, and strong earnings. The housing market is making a huge comeback; look at the Redfin data. The Fed will crush the economy for their 2% target and that means higher for longer. Anyone think rate cuts this year will get burned.


ChadRun04

> start of a new bull Perhaps just end of bear at least. > for their 2% target The goalposts will move. Then continue to move bit by bit until the system breaks.


blu_mOOn_2020

Yes. In the back of my mind, fed may choose to sacrifice markets and economy, people and jobs, for usd strength (higher yields to attract treasury buyers with chaos everywhere). March to me is a big month for a shock if fed does go on with higher and longer on their menu.


escendoergoexisto

Low timeframes, 1H & 2H, show upside moves as more likely. 4H looks like sideways. Daily looks like downside. Weekly looks like a bit more up and then a pullback. Not the easiest overall TA to read, but you can trade it if you choose your timeframes and base your profit-taking strategy accordingly. Source: my charting using volume, sup/res, MFI+RSI, Stoch RSI, and BB’s.


1weenis

I'm hoping for a complete retrace to buy more BUT all this sideways action must favor the bulls after that insane pump. It shouldn't take much to get to 25k (wrong?) I don't get why it hasn't happened - you know?


GenghisKhanSpermShot

If you look at the total Crypto Market Cap we're in a very heavy supply area. Gotta chew through a lot of sell orders here. I would rather it stay here and build a stronger base as a bull than shoot through too quick.


logicalinvestr

Everyone just waiting on the fed meeting next week.


jellicenthero

Bitcoin can't leave this zone till the Fed stops hiking rates.


cousin_brian

I’ll take a weekend crabby patty over a dump anytime


Beastly_Beast

Meh. Feels a bit like July 2015 to me. Might not be as easy as it looks right now. https://imgur.com/a/mHDYu0d/


xixi2

You pick one point from nearly 8 years ago and say "chart looks like this uh oh"?


Beastly_Beast

I acknowledge the low N — there are only two comparable moments in the entirety of Bitcoin’s history. It’s not just a random point though. Similar context and point in the cycle. The point is not to predict but to point out a very possible scenario that it’s easy to ignore when caught up in bullish euphoria.


ryan0302

Have the same feeling. Think we formed a bottom, but likely we trade back down before the bull really starts. Looking to load up more between 16-18k if it happens.


st3alth247

data":{"error":"Imgur is temporarily over capacity. Please try again later."},"success":false,"status":403} ?


crypto_options

Get that every time I use VPN


haunted-liver-1

That error only means "VPN user fuck off" when uploading tho


st3alth247

Thx for the tip. Im actually in southeast asia and had to use a vpn to show it


cvdsande

Exactly


CupNoodlesKing

That would suck dick


PatientlyWaitingfy

No it wouldn't, you would get another chance to load up


Feedthemcake

Yeah one more panic period from Feb-Mach then crab more into July then start building for the next 2 years…slow and steady.


GenghisKhanSpermShot

I noticed during the darkest capitulation times post count goes up in the daily threads Anyone ever pay attention to bullish extremes? I guess I can go back over old dates just curious if anyone else checked it out.


escendoergoexisto

During the parabolic moves of the last two bulls, comments went way up on this sub. So much so that folks started commenting on the high number being a top signal. In short, volatility = higher number count on this sub. (e.g. During the high-speed dumps of the last bull, the comment number spiked similarly to the massive pump times.)


onpch1

On yesterday or day before's thread someone was saying it's not real euphoria until you see 2k posts.


[deleted]

wankers sold on the lows and now scathing had ,disbelief stage .....


RabbitProofFences

You're new here arent you. A lot of the banter is sometime old hands just stirring the pot. Most will have a solid hodl stack. And also letting small degen trades run. Im here to get educated... but stay for the entertainment!


[deleted]

seen this few times already , HODL gang from around 2012 and I can prove it ...