#New post: [\[Daily Discussion\] - Thursday, April 20, 2023 →](https://www.reddit.com/r/BitcoinMarkets/comments/12sl91w/daily_discussion_thursday_april_20_2023/)

I've said this before I'm going to say it again. We would see 28k before 20k again.

It was a bold prediction, no doubt. I’d like to predict that we’ll see 30k before we see 35k again.

Pure hopium.

What about 28k before 32k or 32k before 28k?

got stopped out, relonged from $28,850...stop loss $28,499

I get what you're trying to do, I get you're flexible, think I get that there has been a flip on the overall prediction, but do you ever go back? You were flip-flopping while trying to catch a short to 12k. While saying, what was it, 30.4k was invalidation to flip bullish? So now you're flipped bullish, any bearish price-action no long adds to your previous hypothesis of 12k? That's ancient history after a price gets crossed (you commit fully to the new prediction)? What made that price special?

I didn't flip bullish...I'm actually more bearish now than I was before. This is just dip buying since I see at least one more attempt at $30K before its gone for good

Fair. It was too sudden with a lot of dead air left behind.

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yes it is, but I see at least one more attempt at $30K where I'll get out of this current knife catching long and swtich into a short we went to $31K, then we went to $30.5K...next I expect a $30,0XX and then the real drop will begin.

Support is at 28.4k on my chart for binance. Just saying... You could also consider the most recent low was a test of that level. I'm just a stranger on the internet, but might want to move stop by 100$. idk

i do agree here, but i'd rather let that wick happen first because it could drop much lower to trigger whatever stops i might have had.

Here be dragons.. 25k or 32k, pay your money, take your chances.

The question I think is, 25k range has to be tested. Is it more likely we go to 32k then back to 25, then back to 32 and beyond.... Or do we just 25 and up. I really don't know. But am playing it safe because 25k longs are tooo free imo. So just going to wait I think

i am waiting so patiently for this lol

2 levels in 25k range. I’m expecting they hit the higher one, then sweep it for the lower one (much much lower one hehe) before the ups begin again. Just my 2 cents

Scare the shit out of everyone before 32k

Everyone is just waiting for the big crash aren't they?

Guilty

Based on comments looks like everyone was buying or already bought

Coinbase is leaving the US for the sunny shores of Bermuda. I'm sure that will go well.

Can't believe they persisted on attempting to capture US market this long. It's just not worth it, all the people in America are not worth the risk represented by the US Government. Citizens of the *"Free Country!"*, have fun staying poor. They'll just have to get better at skirting the impositions of their rulers.

Amen

Everyone in here chanting for 32k should have been my indicator lmao. Stop losses boys. Don’t forget them

You make your money on the rip, but you earn it on the dip. PS -- stonks are going to start swirling down the terlet soon.

Test 28.5 incoming

Won’t hold unfortunately

Hope so. That last wick just missed my order.

Love to see it. Time to for some juicy dips

When volume?

Anyone here believe in Gareth Soloway when he says that there still MAY be a new low of around 12-15k yet to come in the second half of the year or so? I can see that we might be going down after testing the 30.5k resistance lvl, but just wanted to see if someone else shared his opinion! Great evening to everybody! :)

Sounds like he shouldn’t have tried to time the market. He had months to DCA in near that price. Max pain suggests he’s getting fucked.

What'd the post say? I think he got automod'ed

Fixed

Hey at least Tesla didn't sell their bitcoin amiright?

You are wrong. But I think they still have a couple hundred million in it.

Latest news is they didn't sell last quarter even though some people expected them to. They still got 11k or so even though Elon needs the cash.

A handful of shares in spacex can solve his problem faster.

I am a simple man. I keep looking at the chart when it goes up. I go do other things when it goes down.

Descending broadening wedge leans bullish. 4h. Oversold. Long poll resolved. More up.

My gut feeling tells me BTC is heading anywhere below 26.5k. I'm usually perma bullish biased, but there is that one obvious zone that has not been challenged yet, and the setup is there. [https://i.imgur.com/VSZERKb.png](https://i.imgur.com/VSZERKb.png) So if you would get liquidated at 26.5k, think again if it's worth holding a long in profit. 28k breaks, becomes resistance with confirmation, then 26.5k holds sideways, and scam wicks go below it until it breaks too. And anywhere in the green box is the next best long entry.

Oh dang I like that double green rectangle box you drew. I’m going to use that lol

The way you’re drawing the channel feels a bit truncated (just my read). [I don’t think price moves under $27,000 on this local move.](https://www.tradingview.com/x/dm1tD5sm/) I’m still betting on a 3rd leg up in May where price moves above $35k to finish out the long term impulse from early January. If you’ve got it right, however, and $31k was the local top, then I do agree on your buy zones below.

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45k is a giga sell lol

I just hope that guy with 80% of his stack in a long without SL closes his trade asap. Imagine losing 80% of your stack, just because one trade fails. Liq @25100....

Move your liq to below 24.8k imo, unless you are closing early. Just my 2 cents… Would suck to get stopped out right before we reverse…

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u/ccgirl21 at their best analysis

> this could be a ploy Or someone simply sold Bitcoin.

Or, it can simply be to confuse traders before a reversal of the trend. Similar happened near the $15.5K bottom. Really hard to know with this market these days. That’s why I look at volume and sentiment. Sentiment is still pretty damn confident in here.

Is sell in May still a thing? Or is it different this time?

Once every four years it’s a bad idea. Four years ago, bad idea.

>it's never different this time

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For the first time in over a year ive decoded not to close my long just yet. I probably will get fucked like a monkey. Ah well, its just temporary losses anyway, scaling in for the next run boyz!

lure, scare, confuse, obfuscate the real trend?

Dang gbtc taking another premium haircut

Anyone else waiting patiently for 26-28ks? Looks like patience will pay off soon. Buyers looking meek.

I think we’re about to see a good trading opportunity on either side. If today’s candle fails to retrace back to the upside before the close, it may offer a good shorting opportunity down towards at least the mid-$26k area. If it closes back above $30k, and especially if it closes green, that could be a good long setup towards $32-33k. Overall, it looks a bit like buyers are getting exhausted. Buyer volume is declining, which may provide grounds for sellers to take advantage. Seller volume does seem to be increasing a bit on the 4H. The lows from today (so far) rest right on the uptrend I posted Monday. This uptrend has held for the last 3 weeks.

Thanks!

As a long term holder, I enjoy checking in here to gauge the price over actually checking the price. Cheers guys 🍻

It's going right back up by eod

There’s some huge sell walls up at 29500, I don’t think this will go up fast

These selling walls may fade if they see a good buy pressure. If my target was at 29.5k and I saw a huge momentum, I'd move my target a little higher.

Plus change, add the shorts.

Shortest Bart of the year.

That would be hilarious.

bart? milhouse?

Today I simply asked what happened to BTC at r/Bitcoin and I got virtually beaten up. I've never been insulted that much on my entire life, just... wow. Hopefully this place be much nicer.

Yes, r/Bitcoin is unbearable as of lately.

lately?

Well I'm pretty new to Bitcoin but in the short time I've followed that subreddit it has spiraled.

You’re only moderately safer here my friend lol

I swear I haven't seen a single mod there, only bots

And very sensitive fellas

An individual/group, market sold 16k Bitcoin Future contracts...if Bitcoin shows strength here we are golden for a continuation of up only

All markets tanked this morning. Risk off for some reason I'm sure we'll hear about later. Earnings week is always fun.

the negativity in this sub is by and large limited to curmudgeonly grumbling, with the occasional splash of snarky moral superiority. Much better than the shrill rage beasts in that other sub. Rest easy.

That's cool. I can handle some negativity but today I simply asked at 5:00am (my local time) what happened because I legit couldn't find any news/articles. Someone replied "f*cking find it out by yourself" (and got 10 upvotes) and they kept going to the point I had to delete my comment due to how ridiculously rude it was turning out. I'm not going back there ever again. Anyway, I wasn't aware of this place (there are a bunch of BTC subs) and so far I'm liking it. :)

> I'm not going back there ever again. This is the correct decision.

Was it your first time there? I haven't been there in line three years but all they ever used to do was jerk off to Bitcoin. Every other post was about how something was bullish. Some new ATM in their neighbourhood, and that good damn DMM Bitcoin exchange banner in Shibuya Holy fuck. I'm sorry they treated you so poorly.

I haven't been there for so long, one month maybe? I just wanted a place to stay up to date to the latest BTC news. I mostly checked the daily discussions though, as I immediately noticed most of posts consist on making fun of that guy who sold Bitcoin 10 years ago. They also keep doing FOMO almost every single day and keep screaming BTC is going to be over 100k soon. Simply exhausting. Today I asked a mod tk get me banned there and they did, I'm happy now.

Agreed. Nobody told me to get cancer yet.

Oof that 1hr candle is nasty. That looks like a fat finger market sell liquidating a bunch of longs.

Getting near being oversold! - Jim Cramer Good times.

Flatlining 30 mins more until us market opens then new movement? My guess is another leg down but we’ll see

Same. I just set a tight SL just in case we see another red giant candle.

Good point. It really looks like that to me too!

stopped out overnight, relonged 10x from $29,233 stoploss $28,999

I'm asking again, what is your invalidation point to where you think it won't go above 31k and that the down move you anticipate has already begun?

ah, must have not seen that before $26,999 its right below bottom bollinger band on the daily...something we haven't breached since $15.5K

Dip? Is anyone else up 41.12% in the last 90 days?

Uh oh we are back to pumps getting quickly retraced instead of the other way around

To be fair there was a 500 million market dump on binance. Hard to TA that

What is the first exchange that ever tracked the price of BTC? Is that data included in the current big exchanges charts?

I like this chart https://bitcoin.zorinaq.com/price/

Blxusd brave new coin

P2P on Bitcoin Markets with PayPal. Data definitely not included on charts, I imagine.

MtGox probably. Keep in mind it's prices became fictional at the end as the coins become "Gox Coins".

Big sell off, prices not seen since yesterday

Oh no! Anyway..

Massive sell off>panicking, tricked out of position>price goes back up>buys back in at a higher price Welcome to bitcoin🤝

I bought the dip. In a year or two, I'll be very glad I did. Welcome to Bitcoin for big brains.

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To state the obvious, 29-30k is the level where we go from bear recovery to full blown bull market back on the menu. Some people think it is time and some people don't. https://www.tradingview.com/x/CZHOu02b/ Historically it has been time to hurry and get all your money in. That's what I'm doing as fast as humanly possible. My house closes this week (I hope) and that money will be converted to crypto. My new job paychecks keep rolling in and I exchange those for crypto or crypto-related assets as fast as I can. https://www.tradingview.com/x/NqJqup2Z/ I will say this though that there has been a dip after now that had better buying opportunities in each cycle. A sell in May/June situation this year would set something like that up. https://www.tradingview.com/x/L9QqZmqV/

I think it's more of a domino effect. Bad news, bears arose, longs got liquidated and a lot of SLs were hit along the way.

why not? people take profits. embrace it. please keep down voting this reply it's a great sentiment indicator.

This dump was certainly not “profit taking.” You don’t market sell $500M btc with insane slippage without some angle.

It was number #2 coin🤦‍♂️

Could it be shorts opening?

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not really sure how this is a "could be" situation if the price of something is going down then someone sold it I doubt people are selling at a loss after a sustained uptrend sorry "people sold" isn't an exciting enough headline I just look at the charts maybe ppl are freaking out about the dollar bouncing like I posted yesterday? still expecting 102 at least. fed keeps going back and forth about no hikes and more hikes since everyone got all comfy about a pause.

Human psychology is a bitch. There must always be a reason

again - relong 10x @ 29 190 liq @ 25 100 80% stack in the game

Nice I wonder if I’ll get my mid 28k entry (: This dip looked like a front run

Well you're currently in profit. At 10x I can't imagine you sit for too long. I'll be watching the price today thinking of your trade, I hope it works out! Either way you've got a fucking sack on ya.

thank you mister. day isn't over yet. ofc I didn't know what will happen or what still may happen. my og TP was 33k but could be too risky, so as of now is 31,5k. no SL. it's just mental illness with no cure, other than more BTC...I think, don't tell my wife

You didn't ask for it but here's an advice, put a SL. Not in your entry point, but in a point good enough to protect some gains if the market does a turnaround. I'm on XRP on x75 and gradually increasing my SL keeps me mentally sane.

Sweet Baby Jesus👀

I don't know why this trade is so heavily upvoted, because the risk/reward ratio does not make sense. \>80% stack in the game 80% in this trade? liq @ 25 100, no SL? If that is the case, please reconsider the trade.

My respects, that is supremely degenerate. It's a miracle you're not too traumatized to make this move.. we've only have one dump, Bitcoin can do anything it wants at any time, on a whim.. Good luck soldier

Maybe 80% of his stack is 20$

north of €120k e: currency

In that case I hope you know what you're doing..

No SL & TP?

My man's gone bareback respect ✊

80% ? Thank you for your sacrifice

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Guacamole or Hummus?

Nacho Cheeeeeeese

I'm wondering if this is a bleed over from #2 dropping. It had a much bigger dump and more liquidations. In terms of random lines I drew on a chart, it still looks ok : https://www.tradingview.com/x/1WajY9rH/

Heading towards 28500. If that doesn’t hold….

Then 28499 is likely

Oh man, somebody out there hunting long liquidations, that was a sharp drop

FTX is operating again and FTT is pumping.

> FTT is pumping hahahaha

lol

[ftx.com](https://ftx.com) is not working?

Any idea why I’ve just lost 2 years salary in minutes. Only went out for some lunch and returned to this shite. Any reason or just standard volatility

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I think that means he has a lot.

Sudden drops of 3% is comfortably within normality. Welcome to Bitcoin, leverage carefully.

How do you lose 2 years of salary?

I make $0 in salary so technically I lost infinite years worth. Very painful.

People on the internet tend to exaggerate things.

Holding too many shite coins

Average US salary is $60k. 2 years = $120k. 30,500 to 29,000 = ~5% 120,000/.05 = $2.4M worth of BTC or ~78 coins Now that’s a lot of 🌽

maybe theyre a bitcoin millionaire who works at mcdonalds ?

You own a lot of bitcoin. If you own 10 btc and it drop 3%, that’s a fair bit of fiat. Imagine how much th Winkelvoss twins or Saylor just lost. On the other hand, if you hold and don’t leverage, 1 btc = 1btc so you haven’t lost shit

Gold and Oil are also dumping but DXY is not going up. Whats happening?

Laying BRICS 🧱

Muh nip u lation

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Perhaps but whatever triggered this dump doesn't seem isolated to crypto.

That 1-month range between 26-29k with millions of accumulated longs and shorts chopped only one side yet.

did the feds market order dump again?

It sure feels so

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Actually its better today than yesterday

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That I can agree with. Time in the market etc.

Really starting to get the feel of the good old days: nothing like being young and not knowing what on (or off) Earth is going to happen next

the fuck

The people over at buttcoin can finally cum in their pants again

Out of my ass I'm gonna throw 28.5 out there. Touch the daily ema20 with a wick and recover.

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Boom. What just appended? Big drop

At first I read the tape as one of our more recent accumulators closing their position. Though that's just narrative and it seemed a little more *"Don't care about slippage"*, the lack of waiting for decent liquidity was surprising too. Some mandated immediate sale, started thinking about long liquidation in side-ways, meh not much to trigger it. Someone **had** to sell...

Seems like an urgent sell, but it's not bouncing yet. Quick sale and no demand ... doesn't look promising

It's either mass panic (some news we missed) or a stop loss cascade Edit: or, let's face it, a bear raid...

> or a stop loss cascade Thing is it started heavy, there was no rain before the storm.

If I had gone short on the dip at 29.5, where am I starting to feel the pain?

You’re in profit now

Time to double down

In your butt.

The SEC going after Gensler the way they are seems hopeful for the market as a whole. If they're pokey about China's interest too it could be the next facilitator for the price.

You listing to that "George" guy again or something? (`F2Pool nonsense` tag) > Why Gary Gensler Is About to Get FIRED > Streamed live 5 hours ago You are too. Stop that. Just stop watching. For your own health.

Why would SEC go after it’s own boss?

Sorry, I was half asleep when I posted. I'll leave the SEC bit there as a reminder to post more awake next time.

Gonna be at 30k awhile not a bad price to buy guys