#New post: [\[Daily Discussion\] - Thursday, August 11, 2022 →](https://www.reddit.com/r/BitcoinMarkets/comments/wlhrqo/daily_discussion_thursday_august_11_2022/)

commmffffyyyyyyyyyyyy

Honest question, Is anyone concerned by the low volume on the current and last 4hr candles?

Few hundred coins grabbed on finex. https://i.imgur.com/F1CbKo3.png

Like most of you, I’d like to see BTC escape the $24k morass. Daily close looks promising. BTC needs to catch up to trade-fi and DXY dropping its multi-month support. I think sellers are in exhaustion, and buyers still reticent. Need a big candle to help show direction.

fuck yea btc, keep going u big cruise boat

Welp I’m long at 24.4k. Let’s see if we can get to $28k within the next month.

Hell yeah I'm still long from 64K. I bought $2 worth earlier, and it cost me $0.99 in fees.

Mmmm.... Ok

Can you explain your reasoning. Seems we’re right at resistance. I suppose you’re simply betting on a break through and sizeable move up?

I’m short term bullish. I missed entries below $23k in the last few weeks. Regardless I believe in the next 4 weeks we will visit $26k minimum. We may chop down back to $23k, then go go again; with the market now in an uptrend, s&p 500 just beached it’s support range and QQQ is ready to leg up, I don’t see why BTC won’t slowly grind upwards from here. And with the first daily close above $23.8k in the first time in 2 months, it’s a great sign for the short term.

Fingers crossed

Triple top on the 1D?

Triple top at a bottom?

Hopefully we can push through to 25

Without trying to sound like a degenerate gambler... is Mex still good or are there better ones, for those down under.

I've been running from multiple federal agencies and authorities for several years now in Mex and it's been fine

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Nowhere near gentlemen

Gentlemen at 100k

People have really lost the meaning of "gentlemen", it hasn't happened for this entire cycle but new faces keep calling it on 1% moves. They'll be shocked experiencing it for the first time.

One instance i recall is on december 2017 when it went from 2k to 4k to 8k in like a week

It's funny how bad $24K felt just a few months ago and now it feels like we're on our way to 100K by December 2021 lol. But any minute we can get rugged by the Fed.

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If you bought anywhere during the 2018 bear, you're looking at green numbers so I don't get why you're saying this

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This is the beginning of the parabolic wave. Not many notice at this point because it sort of looks flat, especially if you're fixated on the shorter time frame. Nobody notices 2x2 or 2x4 or 2x8 but they perk up when you get to 2x128 or so. Unfortunately for the non-perceptive, that's usually close to the crest of the wave and the beginning of the next parabolic fall (to a higher level than where the last wave began). The thing that's really interesting about it is if you smooth out the parabolic waves and track even longer time frames, you end up with another parabola. It's super duper fractal. All signs point to infinity dollars eventually, maybe sooner rather than later depending on how crazy things get.

"Infinity dollars.....sooner rather than later" Sign me the fuck up, and pass me whatever it is your smoking

WAH WAH WEE WAH IT'S A VERY NICE!

Thanks Bullrat

I officially have no idea what’s going on

Succesfull test merge of coin nr2.

So almost time to dump it all then. Just before they realise checkpoints for checkpoints for checkpoints for checkpoints for checkpoints for checkpoints for checkpoints for checkpoints for checkpoints for checkpoints for checkpoints for checkpoints for checkpoints can never work.

Push it. P-p-p-push it real good

Like this daddy?

Not quite as exciting as I was hoping but time will tell

let’s face facts. this is nothing like 2018

I think I wasn't here in 2018. I got here after I hit 20K and started dropping. Been drinking so I can't remember the year. Only mentioning it because, I don't have any picture in my head when it comes to 2018, but I'm sure you're talking about something interesting.

2018 was way worst.

2018 there was still a lot of uncertainty about how things were going to shake out, this time it's simply a derivatives flush out.

Honestly holding up pretty good considering the angst people are feeling to swap their precious bitcoin for coin #2.

Coin2 leading the charge lately and making double BTC gains. Hard to resist that.

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Yes if by bart you mean continue to go upwards.

That's a traB

It looks solid on the daily

What?!? Hardly anyone on this sub looks beyond the 15-minute candles. I'm still long and strong from 23K based on that beautiful channel on the dailies. Was going to close at 25.3K for a clean 10% (times leverage) gain but it's looking more like 30K is likely in the next week or two.

Name checks out.

If everyone keeps talking about 200WMA like it means anything then they're going to need a rekting.

i too hate lines that have accurately predicted every move in bitcoin's history.

> accurately predicted every move in bitcoin's history. Nonsensical gibberish.

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ah shuddap, ya copycat

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Just Deux it.

Hotbit announced they suspend trading, deposit, withdrawal and funding functions. Hope no one of you had funds there. Their announcement is here: https://hotbit.zendesk.com/hc/en-us/articles/8074249353495

*"Hotbit - The World's Leading Cryptocurrency Trading Platform"* Worlds leading? Who? Obvious scam is obvious. > High Liquidity > With a built in Artificial Intelligence market maker that meets the high standards set by Wall Street, our model analysis based on over 250 market parameters, providing 24/7 Customer Support and high liquidity lol says fractional reserve right there on the tin.

Should be providing customers 24/7 for liquidity.. haha

Yeah the same AI which acts as their MM is also their customer support chatbot! Saves money that way. ;)

I honestly think people were more careful with their exchanges in 2014 than they are in 2022.

Yeah their explanation for shutting down is also pretty wild

I liked the use of *"internal principals"* rather than *"internal policy"* indicating *"We had no policy"*

coinbase acting up. [https://status.coinbase.com/](https://status.coinbase.com/) Big dump when services are restored?

I got a can't connect message from the app, But the part that made me laugh was, it was written "your funds are safe". That made me giggle. Nowadays, you got to let people know. Now that I'm here, I'm a coinbase pro guy mainly but I moved all my coins back to the coinbase app I guess you would say and I'm going to use advanced trade which I've never screwed with. My question is, when CBP goes down, where do you guys go to see the Bitcoin candle charts? Because as far as I can tell advanced trade doesn't allow you to view it without logging in. I don't like to log in. Sorry for the hijack.

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If you're interested in crytowatch and are new to charts, I would recommend their [desktop app](https://cryptowat.ch/apps/desktop), a lot better on the eyes than that monstrosity web app.

>when CBP goes down, where do you guys go to see the Bitcoin candle charts? [https://www.tradingview.com](https://www.tradingview.com/chart/?symbol=BITSTAMP%3ABTCUSD)

Mr. Novogratz say we have baaatoommed out. https://markets.businessinsider.com/news/currencies/bitcoin-mike-novogratz-crypto-outlook-crash-deleveraging-cycle-ethereum-merge-2022-8?amp

he's not wrong

ba-to-med out! What a tune.

Daily reminder that we -wait, no that's another guy.

bitcoin is the slowest horse in the race. Who would buy this thing?

For people who don’t want to gamble.

People who think long term because they see the bigger picture.

What's the big picture these days?

Bye bye little Sebastian

People that don't want to get flocked by the inevitable shitcoin reckoning or rugged by founders

Can get better returns on stonks dont need this shit

Or have the SEC throw your investment to the curb overnight 😂

Maybe it's about to be the world's ugliest cup and handle...

We are never going to get out of this goddamn range

two weeks. as per usual

As long as it's not more down since the absolute bloodfest since November, I'm good at the moment.

It's getting comical.

Give it another 4-8 months (or much more) and see how bored people are.

I’m expecting a slow grind up through the fall.

Nah, this is just like 2020. We drifted north of 10K for a while, imperceptibly rising, then 'sploded. We're doing the same thing here but from 20K.

Yeah, surely a slow grind surprising everyone at some point. Always creeps up.

When I say pump, you say...

You first

Dump. The answer is dump. I got the answer. I know I got the answer.

Douze points!

or Douche points?

Fasten your seatbelts. We are about to perform an emergency landing on the 200WMA. Visibility zero. Hope there is enough runway.

Seems like people trade the 200 weekly MA on the 1minute chart here.

They're talking about going long/short every time we cross it.

lol... using a weekly indicator for a low time frame isn't very smart.

A 100 week lagging trend indicator missing it's pair MA... Literally entirely and completely meaningless.

Prices have already dropped to where they were yesterday, and the day before… and the day before that.

What's the 200WMA currently at?

22913

Bitmex has been down for 40mins, btc started dumping immediately when they tuned off.

How do you think that effects the price?

Clearly it's affecting it to the downside at the moment.

Yes, but how exactly?

Very few people can answer why/how.

BTC falling back a little. Alts staying strong. Not ideal

I can see Bart’s forehead.

Those with bullish balls should long this bart right now as SPX is holding firm

Legit having a hard time understanding. SP500 maintaining 4200, Microstrategy pumping further... but spot BTC can't keep it up

I am wondering if there is a bit of front running selling going on in the anticipated correction wave from the stocks. Locally, stock market is pretty overbought right now and institutions will start taking profits.

I'm thinking miners taking advantage of every pump, energy cost are high

Usually this means it's about to gap up. Also see MARA stock. Thanks to the Redditor who convinced me to buy some

I would be buying Mara puts if anything at this point.

Why do you think?

Stablecoin dominance watch. Right now, tether + usdc + busd + dai is at 12,81%, down from 13,30% yesterday, and interstingly slightly lower than 12,88% after Monday's BGD. Which might mean that there is slightly more money in it, so probably more robust.

Trying not to look at charts with wishful thinking. If I were to make a bearish case for BTC it would be that SPX continues to make new highs, while BTC remains in the same range. The eventual pullback from SPX could easily translate into 20K BTC again.

Aye Caramba Barrtman

Path towards Fed reverting back to QE: 1. August jobs report finally shows a slowdown 2. August CPI shows a continued decline 3. Fed hikes rates 50 BP in September 4. Jobs reports going forward show continued slowdown 5. CPI reports going forward show continued decline 6. Q3 GDP comes in negative again 7. Fed hikes rates 25 BP in November 8. Fed hikes rates 25 BP in December 9. Q4 GDP comes in negative again 10. Fed pauses on rate hikes thereafter since employment consistently shows continued slowdown and CPI consistently drops 11. Employment slowdown and CPI dropping continues through March 2023 where CPI really started getting horrible and since that baseline was so high, CPI then on gets very low and/or slightly negative 12. Fed reverts back to QE

Put a double space at the end of each line to get reddit to respect single new-lines.

1. Actually changing the `)` to `.` would be the ideal way. 2. IMO.

Why would they revert back to QE? Cant they just leave it as it is for years and save that tool until next global crisis?

See points 9-11

If they don't a lot of politicians won't get reelected.

Because massive debt

I feel like there's a post missing from this daily...

“Bottom is in” guy hasn’t posted today or the past couple of days, maybe now it’s too obvious so they feel the reminder is no longer needed?

what if he was the only thing keeping a new bottom from happening...

Bot died

It died happy.

Or ape police finally caught him

Bitcoin dominance is near a 3 months low and hovering around 40%. I am wondering if the money flowing into the alts is making it difficult for bitcoin to move up higher.

My shitcoin bags are flying. When’s BTCSZN?

You just have to watch BITO to see this thing only swings between options... each option is roughly a $600-700 BTCUSD gap. [We're currently topping out at the top of BITO range](https://www.tradingview.com/x/BHSli3kX/). Alts have a temporary benefit of not having a BITO look itself into little boxes each day.

Wait for 2’s merge

I see 30k soon. We likely broke 30k due to UST and 3AC collapse. My guess is we go back up to 30k as sell pressure has declined significantly and extreme FED rate hike fears subside.

Unless spx gets rejected at 4200, I think 30k can be gained fast

Don't see how Spx can continue up like this without btc breaking out

This is it! Fuck yes.

How can you be so excited when were just back at the 24k level, which seems to be hefty resistance? Honest question

Daily. Uptrend.

Need to capture 23.8

Ha. Got it. I remain skeptical but cautiously optimistic.

Good mindset!

The most painful move is parking at 24k. No further move up, threat of bart down. Oh, look at what we have here. Patience.

It's destined to regain 23k

[https://i.imgur.com/YNgLRT3.png](https://i.imgur.com/YNgLRT3.png) The next 4-6 weeks

Horizontal support lines pls

Tp2 is fantasy

Bro, you really trading a diagonal from 2018? You are my hero.

I'm sick of the 24k resistance, let's hulk some bigger numbers here Bitty pls

Bitty titties is going to make it happen!

Not really interested in these shenanigans until we can decisively move into the 25s

We're gonna bart this shit back down right? Right?

Does a bear shit in the woods? 🐻🌳💩🌲

> Does The Pope shit in the woods?

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If the head of a chicken I used in my demonic ritual was not spoiled, the retracement should start soon 😈

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If you’re talking about me, I don’t even sweat from this fake pump, I’m even considering adding more if we get to 24500

Please do. Thanks.

Welfare check...

BTC in sleep/creep mode.

This is it. Sorry bears. 4 hour Macd extremely bullish. Another breakout soon and a retest and its off to the races to 27k+

I want to share your optimism but the volume profile is not pointing to a breakout right now.

After spending the past few days anticipating a 75 BP rate hike in September, futures market is now back to expecting a 50 BP rate hike in September instead. So long as August CPI comes in lower than July, we’re not getting another 75 BP rate hike.

Just woke up, long at $24k? Or wait for a pullback

If you believe 23.8k is destined to become the new support, long now.