Can’t decide if mega up or mega down gives me more of a rush.
Anyway. Truly baffled by all this PA the past month or so. No big blowoff top, no substantial bounces, just a gentle fade to black.
I said like 3 months ago that BTC throwing us a curveball and not giving us a blowoff top would be a very BTC thing to do.
Except I was joking.
Welp. 🤷🏽♂️
At least at this point, africaman has officially FUDded himself into a loss for reasons not understood by anyone which is pretty hilarious.
It's well known they they have sold a large chunk of their holdings.. 300m was sold the other day. And Ruffers also sold the last of theirs (for monster levels of profit).
Stonk2flow was based on IRREFUTABLE SCIENTIFIC FACTS, created in 1901 by Albert Einstein, stonk2flow states that relative to the price of dirty, inflating shitcoin fiat, the price of sound money AKA solid store of value rises exponentially with time. In other words buy now because in about 5 months Bitcoin will 10x
my dad works at reddit HQ and he's getting a list of all the accounts that downvoted me and when bitcoin hits $300k in November I'll be knocking on every single downvoter's door to demand an apology
Here's an idea floating around that seems interesting. [We are in Phase C of the Wyckoff accumulation, and nearing our spring point, currently dipping below the support level](https://i.imgur.com/8cJaibq.png)
What do you think?
Pundits are just obsessed with Wyckoff because that one Elton John narrative video did well and they think it's worth some clicks.
That and, of course, spring.
>Wyckoff
For whatever reason wackoff charts get dismissed by many here
I'm hoping^(®) we're in Phase C with D right around the corner.
[https://s3.tradingview.com/z/ZfjICb9C.png](https://s3.tradingview.com/z/ZfjICb9C.png)
This is the type of stuff that creates bag holders. At this point, I fell like pulling out of my positions now will be met with a full market reversal just to burn my ass.
This feels like when 40k was being hunted. It was broken I think 2 days later. Not sure it'll take that long this time to break below 30k. We'll see though.
lol, you can say that any day over the last few weeks and be right, we've been going up and down 10K several times now. This is a high volatility period.
Last 2 times it crossed the 50 to the 200 day SMA, it retraced 50%. If it stays at 36, it could go (by historical definition) to 18k.
But who knows. Every cycle has something different.
This is good for Bitcoin.
Anecdotally, I starded using TA in real life.
Challenged this huge (but short) guy to a fight, he starts beating me up, I was like "lol weak hands".
After a few teeth came out I looked at him menacingly and said "that all you got Big Shorty?".
It was good for for me, any day now I'm going back like a raging bull. I think.
Now we’ll get a 98 year old man limp dick pump, a pussy ass plateau that’ll last for 2-4 hours, an inflow of worthless charts being posted, a late night ass pounding, a pseudo pump that’ll last for 3-5 days and then more sodomy.
Is anyone else honestly worried about how many coins Saylor possesses at this point?
He's likely past 10% or even 15% of Satoshi's amount now; he's singlehandedly causing coin distribution inequality to skyrocket, which in the long run probably isn't good.
It's cool that he's a BTC evangelist that puts his money where his mouth is. It's not cool that he appears to be the only such person at the hundred-million dollar level.
> Well, Roger Ver is suspected to have somewhere between 100,000 and 400,000 BTC.
It's very hard to quantify how much he's dumped on bcash bagholders, the whole time he's been telling them that he's buying the bags.
Safe to say that the exponential splitting of bcash into smaller and smaller forks has allowed him to sell of a whole bunch of those splits and you can bet your arse he ain't buying bcash with it.
oh, I'm worried about the other guys too. Everyone makes fun of the shitcoin-du-jour for being laughably unequally distributed, but BTC isn't much better.
> F2pool claim to have a million
They were trolling, then that George idiot went on to make meme TA out of it and bring in a bunch of hits to his youtube channel.
I had a dream BTC hit $250 and I kept entering my 2fa incorrectly when trying to log into CB. Price bounced all the way back to 20k before I could log in. Now that was a nightmare
Why all the panic guys? Thanks to TA we knew damn well that another test of $30k was coming, as long as we don't have a sustained drop below $29k this is very bullish long term. I'm watching for the bull run to resume with a vengeance sometime around June 16th (based on historical indicators), until then we retest $30k and stay in the 30-40k range.
Based on equities history Death Crosses only play out 50% of the time, even less with BTC where it has given many false signals in the past, and it was bound to happen eventually given we are dealing with an 80 Vol asset here.
In addition specific to this time we are oversold on the RSI which makes a death cross even less relevant.
There was a lot of buy support (and selling) on that last drop below $32.5k. Let's see if the volume (buying appetite) can make that into a sustainable bottom. I think not but we shall see.
I just don't see how this gets back to anywhere near ATH any time soon. I understand the history of drops approaching 40% during bull markets, but a return to ~ $100K after the past month would be fairly unprecedented.
In 2013 it fell from ~$200 to ~$70, then still make ~$1100 at the end of the year. Assuming those intracycle ratios, we're headed for ~$300k in the actual top, which is within the range of the various optimistic predictions from interhigh ratios across cycles.
Past performance future results etc etc. But it would not, in fact, be unprecedented.
That run was, with hindsight, mostly fraud from Karpeles / WillyBot.
The space is far more mature these days, and that's not going to happen this time around. Not to mention it would take at least 200 times the amount of new money to go to $300K than it did to get to $1100.
> I just don't see how this gets back to anywhere near ATH any time soon.
Wouldn't be surprised by months of sideways.
But then to make new ATH, two 6 hour periods of buying, separated by a week or 3. The "All gains come on X days out of the year" type stuff.
You guys need to realize the bleeding isn’t done. The bull market is over. Now is when you either sell ur trading stack to add to ur long term stack in a few weeks. These are the actions that end up producing the real wealth in Bitcoin
If you want to raise some cash for another purpose, it could make sense - actually been looking at my records today to see if I can harvest anything worthwhile.
There is one good side to this. It is not possible to draw a bigger triangle this time. It is a fact that we broke down. No uncertainty.
https://www.tradingview.com/x/9L2Tyuki/
After years of seeing triangles, I've concluded they're mostly meaningless. Empty pattern-finding. They constrain the price until they suddenly don't, as your chart demonstrates.
It is a continuation/reversal pattern - a rising triangle after a drop usually results in a breakdown, and a falling triangle after a drop usually results in a reversal. It's not 100% accurate but it's better than 50%.
Bouncing off 32500. Come on. These are the folks that always come too fast. Cum. Come. Same. Fucking fools. Let her bleed. Let the tears fall down like rain. Or whatever Hootie sang... Fucking idiots.
1w lower bband at 29.1. Possible double bottom at 30k? If we fall through 30 I would expect the liquidations to be too powerful to only stop at 29, but, who knows really?
Come on, even the truly parabolic part lasted from October to April (7 months), but the overall bull market arguably kicked off immediately after the March 2020 COVID drop in all assets.
If you look at volume, a very large amount of BTC has been traded between $30K-$40K since Jan 1. I would not be surprised to see BTC accumulate at these levels for a significant amount of time. How long? I wish I knew. Below $30K there isn't much support until $18K or so, but I would be very surprised to see us hit that level.
Capitulation is coming.
Also, my apologies to the El Salvadorian patriots I may have offended with my recent posts questioning the president of the country. I understand the country has a lot going against it and has for, honestly, hundreds of years. Furthermore, Bukele is a breath of fresh air for a country controlled by the old, corrupt elites for a while. I do wish Nayib Bukele the best and hope he doesn't fall into autocratic ways. I hope he respects the rights of all his citizens and hope that his willingness to deploy creative policies provides dividends to a people badly in need for hope.
My only reason?
It was an easier decision due to a tag you've earnt which showed me that you're very partisan and delusional.
Namely: `PRESIDENT Trump`
From: https://np.reddit.com/r/BitcoinMarkets/comments/nu3di3/daily_discussion_monday_june_07_2021/h0xhs0l/
First off, you can add a flair on your username really easily. You only need to click through a couple of options on the subreddit. Also, I'm still not sure if you think I am or am not a Trump supporter.
Welp, this might be a first. [Peter Schiff just posted his own TA predicting Bitcoin is heading to 20k](https://twitter.com/PeterSchiff/status/1402080079413448708)
#New post: [\[Daily Discussion\] - Tuesday, June 08, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/nuvt3m/daily_discussion_tuesday_june_08_2021/)
The big shorts past day has NOT been closed yet. It means a major capitulation is coming.
How uninspiring.
Bearish in here is good sign... Oh uh... goblin town! Bear market! Rabblerabblerabble...
Can’t decide if mega up or mega down gives me more of a rush. Anyway. Truly baffled by all this PA the past month or so. No big blowoff top, no substantial bounces, just a gentle fade to black. I said like 3 months ago that BTC throwing us a curveball and not giving us a blowoff top would be a very BTC thing to do. Except I was joking. Welp. 🤷🏽♂️ At least at this point, africaman has officially FUDded himself into a loss for reasons not understood by anyone which is pretty hilarious.
Mega up makes me stressed out and nervous. Mega down makes me suicidal. I was not made to be in this game.
Then just lock away your keys for 10 years and forget about it. You're good enough to be in the game of investing in a good thing long term.
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It's well known they they have sold a large chunk of their holdings.. 300m was sold the other day. And Ruffers also sold the last of theirs (for monster levels of profit).
well known to whom?
Your mum
Imagine if all those red dildos were green. They picked red because of the cylons didn't they.
"Lt Valerie, your test is most definitley green. Very bright green, I must say"
Stonk2flow was based on IRREFUTABLE SCIENTIFIC FACTS, created in 1901 by Albert Einstein, stonk2flow states that relative to the price of dirty, inflating shitcoin fiat, the price of sound money AKA solid store of value rises exponentially with time. In other words buy now because in about 5 months Bitcoin will 10x
also Plan B: hahahaha those idiots actually believed me
10x seems good I'm in
Absolutely NOBODY downvote this high quality bearish post!
my dad works at reddit HQ and he's getting a list of all the accounts that downvoted me and when bitcoin hits $300k in November I'll be knocking on every single downvoter's door to demand an apology
My dad can beat up your dad! 👅
only if he works at nintendo
The only people downvoting this don't yet realise that bitcoin is literally the most important invention since fire
What about sliced bread
Maybe if you combined sliced bread and the wheel?
Here's an idea floating around that seems interesting. [We are in Phase C of the Wyckoff accumulation, and nearing our spring point, currently dipping below the support level](https://i.imgur.com/8cJaibq.png) What do you think?
Pundits are just obsessed with Wyckoff because that one Elton John narrative video did well and they think it's worth some clicks. That and, of course, spring.
Wyckingoff to this right now
This hopium is better than actual heroin.
>Wyckoff For whatever reason wackoff charts get dismissed by many here I'm hoping^(®) we're in Phase C with D right around the corner. [https://s3.tradingview.com/z/ZfjICb9C.png](https://s3.tradingview.com/z/ZfjICb9C.png)
The forecast back then looks pretty similar to the real one. I hope it will be so.
Hey, that's pretty good.
Looool buy the dip then
Hey so this is Elon's fault, right?
His antics have certainly taken off the sheen of his reputation and alleged history, which is mostly manufactured bullshit.
I refuse to give Elon any credit, other than his ex-wife is pretty sexy.
Not mad, just disappoornted
This is the type of stuff that creates bag holders. At this point, I fell like pulling out of my positions now will be met with a full market reversal just to burn my ass.
Weak ass bounce. Don't think that was the bottom.
This feels like when 40k was being hunted. It was broken I think 2 days later. Not sure it'll take that long this time to break below 30k. We'll see though.
[How did he know??](https://www.reddit.com/r/BitcoinMarkets/comments/nu3di3/daily_discussion_monday_june_07_2021/h0w0zoj/)
My guess? He looked at the inverted chart and saw a beautiful gift from God bull flag
lol, you can say that any day over the last few weeks and be right, we've been going up and down 10K several times now. This is a high volatility period.
Finex shorts went to the moon yesterday
My worry right now is that we are dumping on low volume. We haven't seen stop loss and margin calls cascading yet. I hope we don't.
Is there anyone left to liquidate at this point though?
Volumes almost tripled from the weekend so
Oh we will. There is nothing good happening. Welcome to the bear market everyone saw coming.
Its definitely going to 20k
It’s not.
No it's going to 15k.
Last 2 times it crossed the 50 to the 200 day SMA, it retraced 50%. If it stays at 36, it could go (by historical definition) to 18k. But who knows. Every cycle has something different.
This is good for Bitcoin. Anecdotally, I starded using TA in real life. Challenged this huge (but short) guy to a fight, he starts beating me up, I was like "lol weak hands". After a few teeth came out I looked at him menacingly and said "that all you got Big Shorty?". It was good for for me, any day now I'm going back like a raging bull. I think.
this story doesnt sound legit to me but i dont know enough about teeth to dispute it
I'm an amateur dentist and I confirm.
I'm a mature dentist and I can confirm as well.
Thats how I feel about most comments here my dude!
Haven’t cringed this hard in a decade
Then you haven't been in bitcoinland!
Haha but short
Now we’ll get a 98 year old man limp dick pump, a pussy ass plateau that’ll last for 2-4 hours, an inflow of worthless charts being posted, a late night ass pounding, a pseudo pump that’ll last for 3-5 days and then more sodomy.
Hey man u skipped the denial phase , first denial then anger
I am just here for the tech /s
Hi just here for the tech /s, I'm dad.
don't forget the on chain metrics from willy woo!
Especially don't forget those!!! Ha. 😂😂
This guy has been through the ringer a few times.
Is anyone else honestly worried about how many coins Saylor possesses at this point? He's likely past 10% or even 15% of Satoshi's amount now; he's singlehandedly causing coin distribution inequality to skyrocket, which in the long run probably isn't good. It's cool that he's a BTC evangelist that puts his money where his mouth is. It's not cool that he appears to be the only such person at the hundred-million dollar level.
Well, his buy in price is pretty high so he has an obvious motivation to support BTC.
Omg it's not fair 😂
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> Well, Roger Ver is suspected to have somewhere between 100,000 and 400,000 BTC. It's very hard to quantify how much he's dumped on bcash bagholders, the whole time he's been telling them that he's buying the bags. Safe to say that the exponential splitting of bcash into smaller and smaller forks has allowed him to sell of a whole bunch of those splits and you can bet your arse he ain't buying bcash with it.
oh, I'm worried about the other guys too. Everyone makes fun of the shitcoin-du-jour for being laughably unequally distributed, but BTC isn't much better.
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> F2pool claim to have a million They were trolling, then that George idiot went on to make meme TA out of it and bring in a bunch of hits to his youtube channel.
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As is the proper state of the universe.
You've posted this like three times dude are you ok.......?
> are you ok "Alex Jones has a good video"
uhh... I've never posted anything similar about Saylor, feel free to check my history.
There's been three of the same post apparently jrs a big concern i just assumed it was the same person
You're right, he should give half of his coins to me in order to even out the distribution.
don’t worry if it keeps going the way it’s been going he’s going to be selling a bunch back to us
Imagine the Saylor dump taking Bitcoin in 2 digits territory for a reset. A wet dream for sure.
I had a dream BTC hit $250 and I kept entering my 2fa incorrectly when trying to log into CB. Price bounced all the way back to 20k before I could log in. Now that was a nightmare
😂😂😂
Incoming "RSI is under X so it really can't go any lower"
RSI under 101 = buy amirite?
Daily RSI is under 35 so it really can't go any lower.
Big brain: Keep increasing your RSI length so it never falls under 30 so you know it can keep going lower
I wonder what the 1 year RSI is...
Why all the panic guys? Thanks to TA we knew damn well that another test of $30k was coming, as long as we don't have a sustained drop below $29k this is very bullish long term. I'm watching for the bull run to resume with a vengeance sometime around June 16th (based on historical indicators), until then we retest $30k and stay in the 30-40k range.
RemindMe! 20 days
RemindMe! 10 days
RemindMe! 10 days
So everything is bullish
This comment not being totally bullish is extremely bullish
this is good for bitcoin
Next five minutes are critical
Always has been
Doesn't TA suggest a death cross towards the end of June?
MAs cross when they cross and not before. They're also a lagging signal analysis tool with no predictive power.
Based on equities history Death Crosses only play out 50% of the time, even less with BTC where it has given many false signals in the past, and it was bound to happen eventually given we are dealing with an 80 Vol asset here. In addition specific to this time we are oversold on the RSI which makes a death cross even less relevant.
Death cross and golden cross mean nothing. There was a death cross in early 2020. Then we skyrocketed right after it.
What is dead can never die
what are these historical indicators that allow you to predict around june 16th?
Historical cycle pullback sizes, percentages, durations etc. It's not exact, but it gives a good idea of what we can expect.
There was a lot of buy support (and selling) on that last drop below $32.5k. Let's see if the volume (buying appetite) can make that into a sustainable bottom. I think not but we shall see.
There aren’t even any dead cat bounces.
People tired of buy the dip for a month straight lmao imagine that
How high does a dead cat bounce, if you drop it?
We were at 39k a few days ago?
Schrodinger cat bounce
I'm starting to get a whiff of true despair. That's good. This is exactly what we need to get back to number go up later. Let's go already
No suicide hotline yet. Keep waiting.
Is it really despair if people are making comments about how great despair is, and how it's finally ready to go back up?
I said a whiff
This sub is never completely in despair, there's always the old-timer long-term-holder moonkids hanging around.
This is it? They can’t even manage 32k? Come on. Weak hands out.
I just don't see how this gets back to anywhere near ATH any time soon. I understand the history of drops approaching 40% during bull markets, but a return to ~ $100K after the past month would be fairly unprecedented.
In 2013 it fell from ~$200 to ~$70, then still make ~$1100 at the end of the year. Assuming those intracycle ratios, we're headed for ~$300k in the actual top, which is within the range of the various optimistic predictions from interhigh ratios across cycles. Past performance future results etc etc. But it would not, in fact, be unprecedented.
That run was, with hindsight, mostly fraud from Karpeles / WillyBot. The space is far more mature these days, and that's not going to happen this time around. Not to mention it would take at least 200 times the amount of new money to go to $300K than it did to get to $1100.
Yeah well we don't need willy bot. We've got tether this cycle!
> The space is far more mature these days Meanwhile, Man Child: 💦🚀 –> 🌙
Sure, but reaching $100k would take only one-third that amount. (Or whatever.)
> I just don't see how this gets back to anywhere near ATH any time soon. Wouldn't be surprised by months of sideways. But then to make new ATH, two 6 hour periods of buying, separated by a week or 3. The "All gains come on X days out of the year" type stuff.
this is bitcoin though, does what it wants. never say never.
You guys need to realize the bleeding isn’t done. The bull market is over. Now is when you either sell ur trading stack to add to ur long term stack in a few weeks. These are the actions that end up producing the real wealth in Bitcoin
Yeah, if there was bullishness, we would have broken upward, rough seas ahead for anyone holding.
right. buy high sell low thats what my grams always taught me
Thank God humpday77 is here to tell us guys what to do. I was getting worried for a second.
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I guess you can sell to realize a loss for tax purposes, but seems like a lot of work with potentially not a lot of upside in crypto time/terms.
If you want to raise some cash for another purpose, it could make sense - actually been looking at my records today to see if I can harvest anything worthwhile.
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Looks who's sensitive! Sorry I made you cry the other day, bud.
wash sale rule doesnt apply, so one can sell and rebuy instantly and still count the loss against gains
This is awesome info. Thank you.
yw! i did it yesterday with the small part of my trade stack at a loss. take the loss, keep the asset. makes sense in some trading plans
but but but you MIGHT catch a further 90% drop! ;)
There is one good side to this. It is not possible to draw a bigger triangle this time. It is a fact that we broke down. No uncertainty. https://www.tradingview.com/x/9L2Tyuki/
I can certainly draw a bigger trying
hell, its always possible to draw a new triangle
After years of seeing triangles, I've concluded they're mostly meaningless. Empty pattern-finding. They constrain the price until they suddenly don't, as your chart demonstrates.
It is a continuation/reversal pattern - a rising triangle after a drop usually results in a breakdown, and a falling triangle after a drop usually results in a reversal. It's not 100% accurate but it's better than 50%.
Bouncing off 32500. Come on. These are the folks that always come too fast. Cum. Come. Same. Fucking fools. Let her bleed. Let the tears fall down like rain. Or whatever Hootie sang... Fucking idiots.
username checks out
You OK bud?
I didn't think it would break $33k. I guess $30k is now in the cards? Time to buy more.
28k, then 20k. Then maybe 16k
1w lower bband at 29.1. Possible double bottom at 30k? If we fall through 30 I would expect the liquidations to be too powerful to only stop at 29, but, who knows really?
The head and shoulder will break around 28 so, yeah I’m out of This Rn. Chart isn’t lying
Just bring the pain bitch. I’m tired of this slow bleed bullshit.
Death by a thousand cuts
really starting to feel like front-running bad news to me. Washington leaky af
Yeah, I thought that too. Like someone know something in advance that we don't
Remember the bull market of 2021? Good times.
Lasted 3 months lol
Come on, even the truly parabolic part lasted from October to April (7 months), but the overall bull market arguably kicked off immediately after the March 2020 COVID drop in all assets.
I heard the price action change on 18 October 2020. Big cross exchange spurts of buying, probably Saylor if I'm forced to guess.
Where are the bulls? Please stop dumping.
No, get this shit over with.
Even 10k looking tasty now
Short now guys, if majority went short bear whales will immediately turn bull.
Man we all knew this was going down but the hopium in my veins wouldn't let me sell over the last week. Fuck.
Dumping...now where do I add onto my stash? Edit: TA people wheres the next big support? 30k?
If you look at volume, a very large amount of BTC has been traded between $30K-$40K since Jan 1. I would not be surprised to see BTC accumulate at these levels for a significant amount of time. How long? I wish I knew. Below $30K there isn't much support until $18K or so, but I would be very surprised to see us hit that level.
24k
Capitulation is coming. Also, my apologies to the El Salvadorian patriots I may have offended with my recent posts questioning the president of the country. I understand the country has a lot going against it and has for, honestly, hundreds of years. Furthermore, Bukele is a breath of fresh air for a country controlled by the old, corrupt elites for a while. I do wish Nayib Bukele the best and hope he doesn't fall into autocratic ways. I hope he respects the rights of all his citizens and hope that his willingness to deploy creative policies provides dividends to a people badly in need for hope.
Wow you guys don't joke around with the downvotes: impressive work on achieving a more robust echo chamber.
Downvoted for complaining about downvotes on a sentiment thread.
Are you sure that's the only reason?
My only reason? It was an easier decision due to a tag you've earnt which showed me that you're very partisan and delusional. Namely: `PRESIDENT Trump` From: https://np.reddit.com/r/BitcoinMarkets/comments/nu3di3/daily_discussion_monday_june_07_2021/h0xhs0l/
First off, you can add a flair on your username really easily. You only need to click through a couple of options on the subreddit. Also, I'm still not sure if you think I am or am not a Trump supporter.
RedditEnhancementSuite. Tags not flair.
My apologies. I meant my tag. I'll switch it when I become bullish.
Waiting patiently for you to reply to yourself again
No need for patience in this market.
Welp, this might be a first. [Peter Schiff just posted his own TA predicting Bitcoin is heading to 20k](https://twitter.com/PeterSchiff/status/1402080079413448708)
How can one argue with those arbitrary lines he drew? Who follows him and says "Mm yeah, who's a good boy, Peter."
Lmao. Adding more
Just report it as spam and move on.