High support at 10k

>inb4 we're not going under 10k it's obvious.

Anyways, what's going on? Why the dump? Can anyone give me a quick rundown?

No, nobody can because nobody can explain it. They'll post some meme graphs and try to convince you otherwise.

No reason, just whales shorting it

preparing for the pump this weekend

Futures contracts expire tomorrow. Whether or not the people behind it are actually selling, other people think they are and are themselves selling as a result. That's what's going on.

15 days of nice, small gains, that's why. We're still going up though.

thanks user, you do help, the others are fags.

>high support

you obv dont know what you are talking about let alone anything about traiding.

feb 23rd
if you don't already know you aint gonna make it

futures expire. also 'they' need some support levels to justify the bullrun that's about to happen and the retracement after

gtfo faggot, nobody asked for your opinion.

It has nothing to do with the expiration of CME futures. Do not listen do these cucks, it makes no sense.
The reason why it is going down because people have no faith it will go up anymore and are cashing out. This in turn, drives the market down. Quite simple. Welcome to the ponzi scheme. Has nothing to do with anything else. Perhaps the EU.

>Why the dump?
You call this a dump?
The price has gone down because the trade volume never supported the retarded "recovery" in the first place.
Also fuck off with this meme. Literally kill yourself if you unironically believe this. Shorting artificially props the price up.

pic related, it's (You)

don't worry guys, it's finally bouncing back. Don't sell.

>doesn't know about leverage

You said that at 10.5k too, and 10.8k

It's going to keep going down soon.

>does not understand how leverage works

It's going down. Don't fool yourself.

>Shorting artificially props the price up.
If you're a normie with like 1 or 2 btc? Maybe
If you're a whale with 1000s of btc, yu short it, then sell your btc to dump the price
You cash out and get more btc at the same time



It's dead and has no fundamental value. How many fucking times do the smart people here have to repeat themselves. Us smart people made our money from this given the fact that it's a Ponzi scheme but are now cashing out. Have fun holding rich people bags...Again.

It was triggered by the coindesk article about EU regulators meeting next week to discuss regulating cryptocurrency.

Was Veeky Forums always this retarded?

The best i can say is that right now, the game is betting on the waves. There is no "mooning" or "crashes", it's an investment market, and people are betting on both sides on the way up, and the way down, in the range of 10-11k. That range may go up, or down, over the next week. Volume is fine - could be better, but it's nothing to get excited over. Long term, could be the start of a downtrend, or a climb back up. Hard to say. Overall the market is healthy, people are trading, and that's all that matters. No moons or crashes likely for the short term, unless something catastrophic happens, like Tether falling over.

Too many idiots are clueless NEETs looking at short term graphs, looking for magical answers. They don't know how to read charts, or look at a market from several points of view. There's plenty of money to be made, but it will take some effort, some brainpower, and a lot of risk, the days of buying in and sitting back while it moons is over. If anyone starts babbling about "institutional money", they're engaging in magical thinking like a child, and are too emotionally invested and it's clouding their judgement and feeding their denial. Bitcoin will not be mooning to 20k, 40k, or 100k this year. It's hopefully going to grind it's way to it's real value to the market, which it's been doing all month. If there were more interest in it, or more new buyers in the market, it would be higher than it is, it's a pretty simple concept. There simply isn't a large untapped market of untapped crypto buyers out there, and won't be for a long time, the crash earlier scared any of them off that were sniffing around.
It's a pretty simple concept - if people were simply holding, or selling off and waiting in cash to re-enter, the price would be stagnant. It's not. Since there's no growth in the market size, then the numbers are being generated by churn, with people trading the daily ups and downs, which is a good place for it to be.

The fact that people are starting to hope that price stays up instead hoping it goes back down should tell you that you need to GTFO. Looking for changes in psychology on this board is the most useful indicator.

"Whales" don't get to be whales by sitting on their hands. They put their assets to work. That's what is driving the market right now, getting a percentage back every day off their stack, not just putting it all on one bet and sitting on it for weeks and months.
Could it go back to 6k? Of course. Could it go back to 19k? Of course. But the conditions for either don't exist, and as long as that's true, this is a percentage market. Learn to grind out a percentage over, time, or hodl for the next couple of months, and don't even look at the price on a day to day basis.

Permabulls always laugh at bears when the bears warn them of the incoming slaughter.

Literally every fucking time, even on stock markets.

The psychology on this board is minute, meaningless static to the overall market. Do you really think the small pool of nolambos here represents a meangingful representation of the millions of coin owners out there? Get real, stupid. That's one of the most idiotic ideas ever posted here, and this forum gets a lot of really stupid fucking ideas on a constant basis.

If bitcoin dies how bad will it be for altcoins? Will muh precious linkies make it?

This board is a snapshot of the larger market which consists of largely the same type of people or even dumber money. Institutional investors are a meme. You didn't notice all the bad TA and desperate FUD after we were strongly recovering from the downward spike at $6k? This indicates that people were in disbelief after selling low and were hoping to drive the price down. Now the opposite is happening since there has been a spike to $11750.

You will lose everything if bitcoin dies.

>This board is a snapshot
No, it's not. It's fucking Veeky Forums, home of the austists.

This is a technical correction; market had reached 50-60% fib retracement levels on aggregate a month ago in the sell-off. Then it bounced around 50% and now has hit higher fib levels.

in English please poindexter

he thinks TA is some otherworldly being that dictates what coins do
even though TA is utter bullshit

Whats going on with the EU?

Prob this actually kek


blame this chink fuck
his whale group is forcefully dumping their shit again because he's not pleased with bitcoin segwit integration

Since when are you living brain dead and how did you manage to survive so long?

We are in a secular bull market all though we are currently blowing off steam. Nothing to worry about imho.
I feel we will continue downwards until (btc) we hit the 200EMA on the weekly chart, from there we rise.