Serious discussion

I am a retard. I heard some people saying there was strong support at $8300. Is this true? Please I don't want to lose any more money

probably going to hit 7XXX tonight tbqh

nobody knows fucking anything about this shit and if you think they do your as naive as they come

There are multiple supports. Two biggest are at 8.4k and 5k

1k is the bottom user

Apparently the target is 6k.

i just cashed out everything and bought some heroine. get out while you can.

In markets support is a potential low risk trade entry point. Not some meme save anons ass inevitable bottom point.

>strong support at $8300. Is this true
HAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHAHAHHAHAHAHHAHAHAHAHHAHAHAHAHHHAHHAHAHHAHAA

*inhales*

AAAHHAHAHAHAHAHHAHAHAHAHAHAAAAAAAAAAAAAAAAAAA

THERE IS NO SUCH THING AS "BOTTOM" OR "SUPPORT" OR ANY OTHER BULLSHIT LIKE THAT IN CRYPTO, THIS IS CRASHING FOR REAL

LMAO so glad I didn't invest and just spent money getting pussay. Shit was CASH.

All the buy/sell walls are dummy bids that can be intentionally set up to be withdrawn as soon as the price approaches them. All """walls""" and """support""" are spooks, called spoofs/spoofing in jargon. Naive traders factor them into their thinking (e.g. you thinking theres support at X price) but as soon as the price approaches them the bid/asks are withdrawn. They disappear into thin air.

Every effective market manipulation technique that was banned from real stock/commodity markets is allowed in the crypto wild west. You're getting manipulated by smarter & bigger bad actors looking to drain and rinse your wallet.

BUTY MUH FREEDOM AND NO GUVERMENT REGULATION!!!!!!!

hope this fire sale lasts until i get my tax returns

the real support is at 3-4k

It is going down to below $500

That’s why all you can do is hold. I used to care about losses. When they were profits. Now that I’ve lost my meager profits and it’s eating into my initial investment I am numb. I don’t have much in the game to lose so whatever.

There is no real support for something like Bitcoin.

Support applies to stocks because there are huge investment funds constantly on the lookout for bargains and once a stock gets down to a certain level they just buy it.

There's no one out there waiting to buy unlimited bitcoins at $xxxx.

If bitcoin hit a dollar I'd buy as many as possible.

first person in /biz with correct info I've seen all day

so what is one to do?

There is no such thing as a support. Drawing triangles on charts does not predict future value. You are going to lose all your money. All your money. All your money. All your money. All your money. All your money. All your money. All your money. All your money. All your money. All your money. All your money. All your money. All your money. All your money.

:)

Wait. They are going to kill the Chinese miners and crash their ability to turn a profit.

Strong support is meme. "Support" is nothing more than a price point that held before. If a price holds at any level at any time, it creates support right then and there.

Primary target has been 8k for weeks now. There are so many buys waiting to pounce on 8 that it won't go lower (maybe a wick lower, but not a candle). Hold strong, user (stronger than chart support memes).

you can't trust any particular dollar amount, but general trends
you can see that btc is oversold right now and is due to come back up
but that doesn't mean it wont oversell even further for a bit longer
however it does mean that if you buy and hold, you will profit

This is also dumb and ignorant. "We" the people don't have the purchasing power to outpace the algo's. If they want this going below 8K that's where it's going, it doesn't matter how many of you fucking idiots think 8K is some magical number.

GUBMIT HELP ME! I TOO STUPID TO THINK FOR MYSELF

I will look forward to this image being reposted month after month with lowered start date to preserve the illusion that it "should go up".

Won't that cause bitcoin Chain Death Spiral

Then bitcoin has real support at $1

But you can't tell that from a chart.

Just because people bought a lot of bitcoin at a certain level in the past doesn't mean the conditions are the same now. With high market cap stocks the support is usually tied to P/E or dividend yield, and Bitcoin has neither.

Of course. But it will also clear out the market of everyone except the hobbyists and the large funds/whales. I say $500 as my benchmark but it could be anywhere below mining profitability. When we hit that point it will cause a spike in transaction fees as miners try and maintain support. The difficulty will crash and then we accelerate towards the halving which will also kill the ability of miners to turn a profit.

Wait, I am not the only non-retarded person on Veeky Forums?

Do its orchestrated to kill the coin then. We can't come back from that. No normal people have the hash power to discover new blocks and back the network.

We can. Difficulty will go down and people will rush in until it goes back up. Of course, this will also accelerate the run-up to the next halving which could happen by the end of the year if it happens in a particular way.

THERE IS NO GOD


FUCK

Critical support is at 3505.70

Then it is going to dip below that to 3300 and tx fees will go up to 200.

No they're actually at 12k and 3k, fucking brainlet

>strong support

They said the same thing about a grand ago.

fuck me, I told a bunch of my girlfriends family that this was going to be a revolution in currency in a really smug way. They really thought I knew what I was talking about like it was really going to head somewhere. Fuck me, I can't show my face to them again. Please tell me its possible it will go up again

Only after next halving.

If you can't handle the downtrend, stop looking at the fucking charts you retard.
It'll go back up in time, and after that it'll go back down.

Just buy and stop looking for a year, you'll x10 it, especially now that it's so low.

that chart is zoomed in to a point when BTC was rising quickly so it's worthless
you also forgot that past support becomes resistance

Only real support is 0

Everything else is just memes and guessing

Here's the truth user. Bitcoin has ZERO intrinsic value, like fiat currencies. But it also has ZERO market value commitment from governments and businesses. Unlike sovereign currencies. You played the game of speculation and lost.

This is the price of freedom. Retards getting cleaned out and left to die in gutters. And I wouldn’t have it any other way.

compare this to the meme bubble chart you love so much

according to it this will be over real soon, relax

Yes OP there is, but if we close below that then next support is around 5,400.

There is no support -you are catching a falling knife

price drop, stall, price drop, stall, price drop, stall.

its like a million dead kittens.

the bottom is where the people that got in before the party exploded bought at, those that already lost their shirts and are deciding to hold.

4-5k.

>bcash cucks still exist
just fuck off back to plebbit

Bitcoin require significant electricity and hardware to run, along with the internet.
That giving it an intrinsic value since without investing in said amenities bitcoin literally can't exist, if it exist someone somewhere thinks it have a value, and so it will be traded.

Only change to the fundamentals can destroy bitcoin, as long as it is 21 millions scarce and completely decentralised, nothing can kill it except literally changing its code to either centralise it or break the 21 millions cap.

Nigger the hashrate has been going up in the last months continuously, there are huge companies about to enter the mining sector, including Samsung (just to mention one but there's heaps). Fuck off with your bullshit FUD.

>he thinks there's a floor
lmao

Should be MX in the clouds, not MLK.

Can you faggots stop selling. You're seriously fucking up my day.