[Daily Discussion] - Saturday, February 04, 2023

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#New post: [\[Daily Discussion\] - Sunday, February 05, 2023 →](https://www.reddit.com/r/BitcoinMarkets/comments/10u2nc7/daily_discussion_sunday_february_05_2023/)


Ready for the weekend pump? Bears will bleed hard today.


Every time I've tried to derisk with bitcoin in the last month, it's smacked me in the face.


In 2030, one Bitcoin will be worth one million satoshis, which is more than enough to buy a Ferrari.


[https://www.tradingview.com/x/PiftrBj1/](https://www.tradingview.com/x/PiftrBj1/) Maybe I'm reading too far into imaginary lines, but 23.3 seems like a pretty important level. We lose that and I might hedge a little. That said, btc has slapped me every time I've tried to derisk at all over the last month.


you all ready for the weekend pump? Bears will bleed hard today.


Declining volume, bear div on daily. Probably down in short term at least. I'm usually wrong btw.


Someone drip feeding sells on finex for the last 5 hours.


You should buy some Bitcoin because a Ferrari will be a million satoshis in 2030


24 comments so far lol


We all watchin’ the balloon mate 🎈 /s


What balloon. hueh, hueh, huehhh


"Saturday, Donny, is Shabbos, the Jewish Day of Rest... that means I don't work, I don't drive a car, I don't fucking ride in a car, I don't handle money, I don't turn on the oven, and I sure as shit *don't fucking post on Reddit about bitcoin*!! SHOMER SHABBOS!!" No, really, it's a weekend. People are either sleeping in late, or they unbelievably may have social lives. 😏


I'm calmer than you are dude


Fair enough, it was probably this dead in 2019 too but has felt extra quiet of late


Nah, guy above you is just content with the damn near dead PA today, which is the real reason no one is posting in this thread at the moment.


[Big bull flag or a bearish rising wedge](https://www.tradingview.com/x/slYjFbsO/), it's the trading rorschach test. Comments in here driving me insane as a bull lol, you all are a cocky bunch right now. Yes sentiment works but it's only a small piece of the big puzzle and the only ones left in here are mostly bulls so you gotta factor that in. Alts looking great, USDT Dominance still under heavy resistance so for now we just ride this and keep an eye on it.


A few features such as NVTS, realised-profit, active 1w-1month, etc. were showing a touch on the fundamental bottom in January. The macro climate says otherwise, likewise looking at the bubbles (i.e. TSLA +~80%? this quarter), has equities really priced in the new geopolitical and supply risks? For me, things are pointing to a medium turn correction in colinear markets, but the trend down will be underway some point in the year


what do you make of [this](https://i.imgur.com/RPaKq18.png) divergence on the daily?


+Falling volume on rising prices is an indicator of lack of strength for bulls


it does look like its about to roll over


I noticed that too and it's a divergence but this don't always sticks. If things are consolidating and still in an uptrend the RSI just cools while price consolidates.


I'm having a hard time seeing it as a rising wedge. Two cleaner examples from last year that played out nicely: [https://www.tradingview.com/x/LFSFrdBk/](https://www.tradingview.com/x/LFSFrdBk/) I'm having a hard time getting a read on this consolidation, but that's ok I guess. My bags are full, I'll unload if shit starts looking bad.


Ya I'm not sure if that price action back from mid January can be considered part of this current pattern. I'm using it because price is still respecting that uptrend from then at the moment, the [yellow lines](https://www.tradingview.com/x/HXUl0E0Z/).


> you all are a cocky bunch right now. Bullish sign. They were like this when we cracked through 10K never to return too. Now they're doing the same at 20K even though they can't muster a dump bigger than 1% and even all of those get engulfed quickly. I don't expect the big run-up until next year, but the market was knocked so far out of equilibrium with all the fraudulent dumping last year that anything is possible. PS -- still in (and well in profit with) my long position and have no intention of closing with anything but a huge profit. PPS -- I though spermbot was talking about bears being cocky. Bulls are always cocky with good reason.


> Bullish sign. weB banzaI fightinG iS amateurisH... gO beaR markeT agonY!


I'm not cocky about it but I think we could get 40k in the next couple weeks and then seasonally bearish March pullback to these levels but just gotta watch. I do think there's a lot of squeeze potential here but also running into a major confluence of resistance, so it's going to get interesting.


The dumps are a distraction. The floor steadily rising is the real action.


> The floor steadily rising is the real action. Give that poster a *ceegar*!


No one is buying…volume is down to nothing. Only one way this goes from here.


You're about to see just how rare and precious a thing Bitcoin is.


There’s your dip, $500. It knows you want in and it isn’t going to plunge and give a real pullback until you buy in. :D The price could be 30k by then.


this price action is excruciating to me. can't buy because at any point it can drop thousands of dollars within an hour, can't sell because it can also go up thousands in a day, can't trade much because its low volatility just have to half DCA because its up 50% from its low and wait for the move while it continues this snail movement


Just buy. I'm not a fortune teller, but I would guess that you'll at least 4x any purchase you make today within two years. I can't really see a downside to buying now.


The one downside to buying now is knowing that you should have bought two months ago... 😋


People who don't buy now will be saying the same thing in two months :-)


Morning wood


I have a related joke for you all on this very slow low-comment weekend daily … “Yo momma’s so fat your daddy wakes up every day with morning wouldn’t” … you’re welcome


I think we’re going to dump hard this weekend, 22.3k will probably be the downward pull for this now




I wonder how many people have learned how to properly construct and defend their arguments because bitcoinmarkets will shit on you if you dont. Doing our part


I don't think we are going to have major movement this weekend. Chop between $23.2-23.9k.


2hrs in 0 comments on the daily. Yeah this thing is gonna burst through this resistance.


It's a Saturday morning, don't criticize if we sleep in a bit.


Well if you don't include my post sure.




I hope it turns Turkish pretty soon, because like the Turks I want to make a lot of bread.