BELOW 8K AGAIN!

Yeah, we will have ot hit 4-5k. that will be the true test.

Note that there is a *chance* it may even rise back to 9000 again in the short term. Do not be fooled again if we have not had the major dip yet.

A dip to the 5000s has to happen. It could go even lower btw.

WHY? Explain me like the fucking brainlet I am. How did you defined 5k as the mark for the reversal trend?

Imposition of will.
It's all a mind game.

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>>a dip has to happen
poorfag

Keep in mind that despite what hopeful people say, we are still in a downtrend on the timeframes that matter for establishing an end to the bear.

It has to go up or down at some point, and bear market means it will overall go down. Two steps backward, one step forward. Indicators do not show enough strength (even with blatant pumping manipulation) to break the 10k barrier. So when it bounces off of resistances, it will go down.

On the way up, supports were not properly tested, and further more, the 7600 and 8000-8200 supports have already shown a tendency to break down. That shows overall weakness in the market.

So we are still behaving bearishly. we bounced off of 5800-6000, but that was not true support, it was a pump that was sparked by whales (I watched it realtime) and resulted in FOMO buys. Whales then strategically bought at resistance points to get TAs on board with the "bullishness"

BTC is basically a pump n dump coin right now.

When whales finish taking profits on the latest pump, it resumes its organic downtrend, we will test the support for real this time, and to be honest, it is unlikely to hold. As Tone Vays explains, the 5000 support is actually weaker than the 7600 support, which has not been reliable.

If 5000 breaks, we might start to see a capitulation move, which was close to happening, but averted last time by the pump

If capitulation dumping happens...we could see levels as low as the 1000s.

Yes, really. I would DEFINITELY be a buyer there!

I will also chance a buy at 5000s or so when it arrives, but while watching the market closely in case it breaks down.

By the way, if the most bearish scenario happens, it will not happen over night. As bearish as I am, I just bought 8000 with a tight stop loss (afterbuying 6000 days ago and selling 9000 earlier) just in case we get one more pump before heading down.

Meant to say bought 6300. Waited for the double bottom + volume spike + breakout to confirm reversal. Will use similar strategy to find the next big reversal. If it starts falling hard in next couple weeks, don't FOMO in at any particular price, wait for clear sign of reversal beause capitulation dump could be dangerous.

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Since that was all kind of technical, here is the non-technical explanation to think about what the charts are reflecting:

At the moment there isn't enough FOMO in the market. So people have very little incentive to buy 9k or 10k btc. It seems like a risky investment to people is my guess.

Going from 20k to under 10k really shook peoples faith in BTC for now. Instead, people are viewing it as a quick flip opportunity.

However, as prices lower, the perceived risk does also.

We need to find the level where people once again see BTC as an investment wher the reward (greed) outweighs the risk (fear). That psychological point has not been hit yet, as reflected by the charts.

Fantastic explanation

I want this shit to fall baby!!

The bulls and the whales are putting up a good fight. But how long can they hold the 8k line against this monstrous hoard of bears?

Why would whales buy at the 6k range instead of driving it down further for more profits? If it was going to drop organically, why waste their time on a pnd at such a high price and risk the price dropping further?

Pumping repeatedly lets them start upward trends that bulls buy into, which they can then exploit by selling at peak then rebuying to pump again later.

Whales benefit from exploiting bear markets. They make more if they can pump more often while the unstable bear market lasts.

Gdax is basically the last nonpajeet exchange to not dip below 8k. Can the whale be silenced?

Yes.
The resistance is getting weaker and weaker. It's a pretty clear indicator that the floodgates are about to close and the BTC price will start dropping like a stone. Expect it to hit 7k within the next 24 hours.

STILL BELOW 8K AHHH

Because volume did not pick up. Bulls are not strong enough to hold it at this level for now.

>long ass TA fairy tale
Stop spouting bullshit.

good posts

>I will also chance a buy at 5000s or so when it arrives, but while watching the market closely in case it breaks down.
What signs would indicate that the 5000 level is breaking down?

Well it's below 8k and staying there now, that is not a good sign for people saying that it's recovering.

based

>but that was not true support, it was a pump that was sparked by whales
mental gymnastics.

This.

Not this. We’ve seen something like a $1200 drop in the past 48 hours, that has not been happening very much if at all since we hit 6k. There would be a pump and then daily dips and rises of around $200 before another pump

hahaha get ready for 8800 tomorrow loving this

Delusion

you do realize the 8k buywall which was 400btc tall got annihilated within minutes right?

this shit is going to 6k at least

BTC will crash to 4500-3000 with one major trap on its way down only to make a (barely) new ATH in 3 months, with BCH trading near 1:2 to BTC. That'll be the last run on the back of the old man and that's exactly when you must sell for BCH and another BTC fork that barely mentioned on Veeky Forums but consistently strengthens compared to BTC every time it crashes (and whose airdrop will very conveniently end at the same time).
This is a million dollar post.

Just hit 7.8k
No fucking resistance at all.
This is it.

This

We are getting annihilated here, its a slow death still.

details please senpai if this brainlet doesn't make it I will end it all

It's going to 5.8K, the 0.5 fibbonacci.

if anyone of you retarded faggots could read a chart you would know that a double bottom is a good thing for healthy growth.

It's like nobody's falling for this shit any more. How many times can you use the same cheap tricks before they just don;t work any more?

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