I don't know what to do

its just the dead cat bouncing again

positive news today, every bull run starts at the bottom somewhere...

look at that 7800 wall

dang, that's a strong consensus
I'll put a really low buy order in on litecoin and cash in on the next dip/bounce

Bull runs don't start from a V. They go horizontal for consolidation first. See center of pic related. It's just a random reversal I pulled from history.

Mos funny thing is that how all this MEME stuf will flip.
Now every tick up is called correction by desparate people holding long positions.
A bit after every tick up will be called "dead cats bounce" by people holding shorts. lmao

This. This a is a bull trap. You’ll never see a V reversal.

I mean sometimes they start out of pretty good V's. Heres a good bullrun

this, or it will form a smooth bowl and go horizontal for small bit.

Just looks like a bear trap to me

i bought at 9000 so why not.

except it didn't fell 70% prior to that

This user is right: The key is that the long trend wasn't bearish. So it's not so much of a reversal, as it was a situation of being oversold.

zoom out, its the same pattern all the way down from 11k.

Niggas, anyone doing ta at this point is a fucking clown.
After what based man said today at the SEC this shit is probably going to go back to at least 10k this week.
My biggest fear was the US banning crypto and now the fear is gone, china will probably change their stand after this too.

All the faggots chanting "it's never V" should look at the fucking eth reversal last summer

A reversal where it keeps dropping in sats

There's still regulation. The SEC said nothing new. We all knew they were for the tech, but wanted to impose similar regulations like the stock markets

brainlet.
Could be.
Not impossible just pointing out that yes anything can happen in the markets. Let alone I think that no one should say Bitcoin can't _____ because every time someone says something is impossible for bitcoin; bitcoin tends to make them look like an idiot.

You realize that ETH was completely bound to BTC last summer, and it's BTC value is dropping in the very picture you're showing now... right?

God Damn. This thread is full of the very people making me rich.

But they wont, didnt you watch it?
They know they cant and will only impose regulations to whatever is inside the US. Good luck, even tijuana is like 3 fucking hours away from LA.

China isn't going to ban their people from holding it, they are trying to control their fiat. China will find a way to work with crypto in the future but on their terms basically.

im one of those guys who sold at 6k (not because of panic but because I wanted to buy lower at around 4.5k-5k)

do you guys still think this is a good interval to buy, in case it dips once again? or is it going any lower

It will go lower just wait

And now it's not oversold? Look at any chart's RSI, EVERYTHING is insanely oversold on the daily charts since the 25th of Jan.

This is a recovery.

what they did was basically stated the governments position of being "fine" with cryptocurrency which is reassuring

this could have gone very differently if the tone of the meeting was primarily negative and bearish, instead it was positive and bullish.

I agree with others in this thread, we may see 10k+ by end of week and market may begin recovering overall

Honestly, i dont know man, the sentiment has changed now.
You are an imbecile for selling low too. If you didnt sell at 9.5k then it was too risky to sell lower.
If i had any money i would be buying right now.
Never listen to anyone who says "its going to 4k" "see you at 1k" they only want you to sell.
EVen the TA baby boomer faggot from twitter who said this shit was going to 4k now he says we are going to 9k.
Idiot.

Oversold in a bear is not compatible to oversold in a bull. Market share mentalities are entirely different.

How about eth? Reversal or bear trap?

ETH is still tied to BTC. Bear Trap.

Nigga everything is going up, im sure that even if i look up bitconnect it will be positive.
Last time i checked XRP was still -1% tho.

Yup. China is anything but luddite when it comes to technology. They want to get some kind of reign over crypto in their domestic sphere and that's not - not a chance in hell they permanently ban crypto.

The best thing about the final stages of their 'ban' and firewall implementation is that literally any crypto related news out of China from now on can only be a positive.

It was an uptrend in your example, a huge V during a crash is Not a buy signal.

Bitcoin is still crashing and burning you morons

>Go on Binance
>Click 1W chart
>Shit brix

I disagree. I think any of the boomers who bought at 19k have already panic sold. The general market's mentality hasn't changed, people still love crypto. Especially after today's SEC meeting. I'd wager we've seen the bottom today and now beginning an uptrend.

If you haven't sold this bounce yet, then you're about to learn your first bear lesson. This shit doesn't just abruptly reverse.

stfu with your "technical analasys u fkn nerd! if we were in school i would give u a noggie then give ur scrawny ass a swirly! we funna be rich my niggas!!!
Peace.

...

Yes! Buy high sell low, it’s the Veeky Forums way

I honestly hope your right since I'm not someone who attempts to profit in a bear cycle. I don't agree with you though, as there hasn't been a valid money replacement for the normie flight, and the market wide volume is still rather low. I'm firm in that this is a crash retrace.

>obvious bull trap starts kicking
>"hmm so buy?"

this board is a laughingstock

It is impossible to call for a reversal from a single day. Until a week passes, it is best to assume this is still a downtrend.

that's a correction and subsequent reversal, not the beginning of a new bull run after a long downtrend

Brainlet, the DJI example I posted was over a whole year and that was a 55% reduction in a much larger market. That would look like a huge fucking down trend you idiot.

How has no one checked this? This right here is a bear get.

The volume is increasing steadily. The RSI has started rising from the absolute bottom for the first time in 2 weeks. It's looking good to me.

BITCOIN TO $00.00 CONFIRMED.
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

If you really MUST BUY NAOOO!!!!!111 then pick up like 25% and wait a few days to buy more.

That downtrend is over 12 months brainletkun, if that isn't a prolonged down trend compared to BTC right now, I guess btc is just in a correction and reversal.

my only issue is that if you look at all of the crash charts they tend to have pretty sharp and sudden recoveries. Often to quite high values. We may be in one of those atm.

Nope. Too many normies + tether pumped BTC price above any kind of reasonable price = heavy crash once hype is defleated.

With that said I am going back in when this reaches the 5.5k mark. I know some people keep saying BTC is going lower but I seriously doubt its going much lower.

Here's the difference. The RSI broke 30, which indicates seller exhaustion and going up now from that level would be par for the course for Bitcoin. Combine that with a hammer on the candlestick chart and SIGNIFICANTLY more volume on this uptrend then we've seen for the entire crash. I don't just mean on Gdax either.

Those sort of indicators are usually how you can tell the real recoveries from the crash. It's not guesswork, there's usually a real difference in the indicators. News like today's "USA is bullish on crypto" is also a catalyst for all of this.

That's what people said at 10k-12k.
Look where we are now.

>The RSI broke 30

where do you see that kind of stuff?

DJI "only" retraced 50%, BTC was at 60%+ just a day ago. We're long past the point of "just a correction".

I just realized you were talking about DJI...and extrapolating that to crypto.

lel

you literally have no idea what the fuck you are talking about. Nobody does. You just "hope" what you want to happen so it can work out to your advantage. Pro tip: the market doesn't give a shit what you want and what price you want it at. Get that through your stupid fucking brainlet head and you will make better decisions.

So you think this is the recovery ?

It definitely feels like a recovery but I am so damn shell shocked from the last few days I don't know what to believe.

>sold thinking it was a bounce

i-it'll drop any second now right

It better fucking go down, I need more cheap eth.

I think we have one more good dip before we recover

See
Volume was significantly higher on Jan 18 and RSI and MACD were also bottomed out on most intervals. If crypto reverses after only a month, I'll be extremely surprised. I could realistically see the sideways movement forming soon though.

hello newfriend
>go to tradingview.com/chart/
>open any BTCUSD chart
>make sure you have daily candles selected, should be default
>add rsi indicator

no, thats not what they said
dummy

it's slightly steeper this time

no. look at the >24h graph, there have been several rebounds like this, it's called a "dead cat". bitcoin has gone from ~5900 to ~7800 today alone, that's way too fast to be a reverse in the trend, when it reverses trends, if it does, it will take a little longer than a couple hours.

tl;dr expect it to start going down again anytime

You guys really don't know how to read market information, do you?

Look at the fucking volume, look at those donchian channels and then look at the past trends. It's going to go down.

thanks, user. is that the "RSI Strategy" under "Indicators"?

still goin up friends
can't wait to see the trade history window explode when it hits 8k

Waiting until everything is 90% off

...

always buy

I lost respect for this guy. Yesterday it's bear alert to 3k, today 9k, tomorrow 19k and next week 0$.

Just look at his tweets, can't make his own mind.

It was 55% not that it matters it was much larger in scope and value, for a non volatile market to move that much is immensely greater then bitcoin/crypto with a highly volatile history. You are constantly moving the goal post here. It was a much longer down trend in time immediately.

I am not arguing for BTC I Don't give a fuck about it. Decoupling is what I want with fiat pairs.

My point is you wanted a V reversal and I supplied one and their is guaranteed to be many more in the markets. But just to understand your point you are saying that-that wasn't a bear market in 2008? That was just a correction. but BTC is a bear market because it has tanked for 1 month. I would accept that you believe both were bear markets or both corrections but you cannot separate the two into different categories over 5-10% difference in corrected value. Especially when one lasted much longer although I find it very conceivable that this is a bulltrap based on the news and people are looking for the first sign to dump. I also find it conceivable that it could reverse for a while and break the down trend. I find nothing impossible in crypto.

Do you step into the same river twice? No. You fucking brainlet, as times moves on things change. Most people were giving him shit when were at 11k.

If it goes back to 10k people will begin panic selling to recover losses, crashing it even harder.

BTC? What do you hope to achieve here?
Where it's at right now, you'd be lucky to maybe 2.5x your investment, based on the recent ATH.
There are other -legit- alts that went 5.5x at their ATH, and since alt prices are tied with BTC, why the fuck would you put any money into BTC?

>My biggest fear was the US banning crypto and now the fear is gone
literally no one was ever speaking about banning crypto in usa
literally no one expected this hearing even to discuss it
but at the same this hearing totally ignored tether concern

You are aware that the US posted positive news today and that would be an adequate time to reassess

that's not what a dead cat is retard. a dead cat means the asset in question NEVER recovers ever again.
there can only be one dead cat ever, but you with your limited understanding make it sound like we've had 10 dead cats the past month

Because the markets run 24/7 so the market cycles don't line up with the regular business week.

Because if BTC tanks alts tank harder if BTC increases alts increase with it but if BTC moons alts take a hit, it is unwise to not have BTC in your portfolio

>"USA is bullish on crypto"

Whenever the news say something I alwats expect the market to act the opposite way i.e. all bullish news and reports at the beginning of the year

That's why I'm calling this a bull trap, everyone is bullish on the SEC report but I expect Tether to fail any second now bringing everything down

Ah, yet another one of these BTC purist fuckbois. Whatever works best for you man.

I-I sold the bottom though and now im in tether sir. dont say such things pls sir

I bet your portfolio is sub 5k. If it is I understand why you would not want to have BTC

You niggers ot's over, because of the hearing and because the big guys say so

Just look at this article that popped up today

forbes.com/sites/sindhujabalaji/2018/02/06/india-is-not-banning-cryptocurrency-heres-what-it-is-doing-instead/#34e209fc7c6f

Before, media blew things up or even just lied about stuff like Korea/India is banning crypto (they're not).

Now they seem to change that to "it's not as bad as we thought guys, it's just normal that they want tl regulate some stuff, look, the USA feels the same way, everyone it's time to buy again!"

The media in this whole thing should be shot down. They blew up the pump as well as the dump, and I'm kind of wearing a tinfoil hat right now because I believe it was somewhat coordinated.

Thoughts?

No. It's sub 600k because I took advantage of higher movers over BTC. Fuckboi.