Alright, things seemed to have calmed down so lets get serious for a second here lads

What if I told you this drop was mainly due to a large mining pool selling off 400,000 btc over the past 48 hours.

I'm listening...

look at the 3d chart, it's even more informative

It happened Otc in China.

that's very true in terms of our scalability issues and functionality but so far the general consensus is that most people don't really care, except for then coinbase jews them on fees, and we had the same problems during the run up to 20k but that did nothing to stop the hype, I can see it becoming more of an issue now that hype cools down but I still see that as something relegated to the development/tech side of things and not much of a factor for the speculation thing. bcash should be enough to offer at least a temporary bandaid solution reinforcing the "digital gold" "store of value" idea. BTC as long term hodl/speculation, and bcash for practical use/transaction.
btc also still retains the first mover advantage and still has nearly 50% market dominance, it won't be an easy thing to take down,

and excuse me but what do you mean
tufte'esque ?

I'm watching live charts, sticking to daily and 1 hr timeframes use 30 and 15 min for higher resolution so I can see individual peaks

I see what you mean, but we have a historic tendency to stay stupidly bullish. are we talking 2 or 3 weaks of slow downtrend with final dip at the end, or another large parabolic dip coming up?

I held usd during bear market in Sep and barely came out about 20% up. I'm trying to double my stack in alt coins this time around. It should come out ahead in usd by the end but it's all a gamble and you know it. glhf

>but it's all a gamble and you know
I've been burned by this so much. I'm hodling even if it makes me suicidal to look at my blockfolio for the week

I'm thinking about going into LTC

I have $15.8k usd to spend, I'm just wondering if it will dip lower (thinking about buy orders at 11k) or maybe op or some other TA fag can steer me right

LISTEN ANONS
It will go down again, it will hit around or below our lowest point today. IDK when, but if you look at the charts it should be in the next day or two. So be careful, k? If you can't afford to lose money, don't go into the market right now. Wait for it to even out, after a week, before entering. RIght now it's risky

if you are sure of bear market, why not use a chunk of cash to take out a short for a few days.
if you can be reasonably sure of the trend theres big potential.
i know leverage is risky but with such a strong trend its a little easier to manage
most alts fall with btc because they trade against either usdt btc or eth, so exiting the market takes a few steps, and people would leave alts before btc

>the general consensus is that most people don't really care
that's a lie, and what they all say to each other to cheer for the team. Similarly I highly doubt that plan with BTC and cashy will pan out. But we'll see.

>tufte'esque?
Google for tufte and graphs. Image search should be nice for a quick start. See pic. related. One of the most often cited/or famous even graphs ever. It's Napoleons Blitzkrieg towards Mother Rossia. And the retreat. Notice how much fucking information (or dimensions thereof) are encoded, while it's all super nice to read and extract.
Dude is a visualization legend. :)

If you zoom out the the monthly chart I'm seeing a potential large head and shoulders pattern

You did all this ta and analyzing and drawing lines and wrote a paragraph just to say it looks uncertain to you?
>In other news, water is wet! More at 11

IMO bitcoin, right now, is a good buy anytime it dips under $13,000.

thats like a mental wall it hasnt broke yet.
it will be back at 19k in 7-15 days.

Sorry I mean 1m chart

oh, I've seen that before,
I'll take that comment as meaning my charting isn't unintelligible and too messy to read.
the linear scaling sucks for this though, and the charting tool I'm using has log scale that barely makes a difference.

decided to close long and take some profit from bounce. probably leaving a fair few alts on the table because can't be arsed to shuffle around that many things right now. might consider it in later tonight along with opening a short

I'm usually very cautious and conservative. probably a bit overcautious but I figured talking with a few anons and getting some discussion going couldn't hurt

Anyone?

watch bitcoin. The whole market hinges on it right now

Looks like we're dipping a bit into 13-14k range

here's the daily chart,
we went from under 100 to over 350 really fast and we are still holding over 250.
if market continues down, picking up ltc now would be a terrible move.
personally I'd wait, but that's up to you

don't you have some sources or anything?

Thanks, i trust you. Ive made dome silly moves but ive been around long enough to heed level headed advice

>>In other news, water is wet! More at 11

this.

All that TA and OP still needs to ask. OP if you want to look credible, call the future price. pic attached.

In other news, man bites dog, and the price of stock dipped, then went back up, then down again.

Bitcoin should be making a move very soon (within the hour or two), whichever way it goes it will go that way fast.

LTC looks topped out for now, I wouldn't buy near ATH. You can put a buy order in for slightly higher than last BTC dip (12k). Dips normally will retest their support levels.

>leave alts for btc
Nigga you got it backwards in a bear market. People flee btc for 40% alt gains.
I have neither extra funds nor the risk tolerance for shorts, the alt coin market is similar to shorting btc already.

consolidated majority to ETH, so I should recover if it gets bad, and buying up cheap alts. don't trust BTC anymore, at all.

big if true

just remember, I'm just as fallible as you.
in the future, try and keep the big picture in mind, check daily charts often to burn the long term trends into your head

it's all just a guessing game, and I know my charts are shit, It's just how I role, to lazy to clean them up. anyway. for calling the bottom, I called 11250 on kraken the last time, and I'm calling dip to 100 day moving average and previouse resitance in 8500 to 8000 range, screenshot it if you want, i don't care

it takes some iron will, i pussied out because I opened a short at 1600 and within hours was down almost 2k on my position. closed at marginal profit because I couldn't take the stress. if I held I would have been doing a fair bit better than the smaller shorts I took more conservatively. and last night alts were dipping harder than btc, they just correct faster

my sides

>I opened a short at 1600
how did you do that,

are you being serious or are you just shitposting here?
anyway, opened a few 4x leveraged short positions totaling 1.5 btc on kraken at average price of about 16200, we immediatly had a huge spike. I nearly shat myself, didn't sleep so well that night. 35k porfolio but a 2k loss would be my biggest loss on the least number of trades and the fastest as well, the red markers are where I sold (opened short) and green is where I bought back to close/settle position

what is the x-axis time scale? you cut it off

1-day (you can see the option in the top left corner) on a log scale

>5380421
can I short on coinbase?

Alts have been gaining sats for a week now. Last night we saw a fairly large amount of money leave the crypto markets. Both btc and alts were down. The difference is that alts held at their support based on their strong up trend and btc had the floor open underneath it on the downtrend. if btc goes dead cat, expect alts to pump to their ATH similar to LTC. You don't need meme lines nigga open your eyes

>if btc goes dead cat, expect alts to pump to their ATH
I don't see the connection, they crashed with BTC, why would the diverge if BTC continues down

because some of them have actual value, and aren't tethered the fuck up with bullshit. You know... unlike bitcoin. just a wild guess.

which ones, just a couple

you used to be able to, but not anymore.
shorting is using leverage and falls under margin trading. you are borrowing funds from the exchange to play with. you need to pay it back eventually. it means that on 4x leverage, you can move 4k worth of usd around while only acutally using 1k usd/ only having 1k in your account. this means you can make 4x the gains, but also 4x the losses. margin levels and increments depends on the exchange. bitmex allows for 100x margin. probably making some people filthy rich right now. but that shit is like playing with lava, its risky beyond belief. if you want to see what happens when it goes bad check twitter.com/bitmexrekt?lang=en
margin calls is then you lose too much that it exceeds the amount that you can pay back and the exchange automatically closes your position and takes all the money you owe and you're fucked

the question is, which alts. I'm reluctant to buy into alts that have already had massive runs live verge and tron, etc. and the big alts like ltc, eth, and monero also took big dips. I'd rather hold fiat which gauruntees increase in sat value if btc dips and maybe even play short to increase usd value while increasing sat value

then that plot tells me its nearing bottoming out before rising again?

but you can still short on Kracken?

is that a question?

yes, just be careful because there system is still super laggy especially at high volume times, and that can interfere with your ability to close a position. also, I still don't quite get how their system works with closing positions. it works, but I don't see the logic in how they do it. if you do this, be careful, stack your orders.
kraken hasn't properly re-instated stop loss functionality so be careful and put alerts for where you would want to cut losses and try and put an order in to close your position along with the order that openness it so you aren't scrambling when service cuts out

yes, can I go short on Kracken

IF it continues to perform like it has in the past year(s), yes. It generally corrects down to 10-15% above what was the old exponential growth trendline, then rushes off to the next ATH.

I would not be surprised if the year closes at 22k, actually.

Im bad at TA, but I agree and am worried. I feel like a down trend is almost certain at this point based on the gdax 1h chart.

From here i think it can either slowly correct each day into a running 9 red candle for the 1d chart just like it did at the beginning of this correction. Or we will free fall again.

I think the absolutely disgusting deal on ltc on the last dip ~150 per ltc made it bounce too hard and too far away from support.

Or go on CME, open a futures account and short the shit out of it :P.

You can make money both ways, sitting on the sidelines when the opportunity presents itself (shorting), is just as silly as holding USD on the bull run.

just want to say thanks for the discussion guys, it's definitely helped me keep a level head and stick to my plan. glad that this place can still be useful and relatively free of shills and shitposts at times

...

>which alts
You're kidding right? Did you not notice ARK triples sat value during btc dips? Doge coin goes ballistic and made 6x in May. Hell, even chainlink is having a bull run. DYOR and pick coins with good fundamentals and let the market come to you. Most alts just bounced off their bottoms.

>correction is synonymous with downturn
thought you said you were getting serious user.

This week...the crash ya know

you're welcome

one of the best threads on this board right now, thanks anons

>I feel like a down trend is almost certain

>based on the gdax 1h chart.

I had an idea that this is what happened thanks to Roger Ver. Obviously it's just a guess but it's cool to see someone else say the tinfoil hat theory I was mulling around in my head

quick update for anyone interested, kraken cahrt 15 min candles for higher resolution.
looks like bear triangle forming, holding support at 13600, resistance along downtrend line also holding.
I've taken profit and sold off my larger positions, btc, ltc xlm, bch positions all at least somewhat sold. I'm using break of 13200 support as marker of break down, and break of resistance line as break up. If we break down I'm going to open a short, and double down if it looks like we're dropping below previous bottom at 11200
I'm expecting support at 11200, 10k and then 8500 to 8000 range