Bitcoin Thread - Get in here edition

Looks like all the action is isolated to bitfinex right now.

Close user.

>> 7912692
I personally think we are still going lower, the indicators don't tell a good story.

I mean all the indicators that are in the books don't tell a good story.
I usually watch bitstamp because it's the easiest to notice trends on and while the long term support looks absolutely dismal all the selling that has happened today has been quickly restocked with new orders.

Feels like it will still go down a ways. There just isn't enough confidence in this market, and the FOMO'ers have been burned recently and are probably jaded.

This, the final dump to ~$8k is coming, get ready to buy

1million eoy

So what would you say is the likely scenario? I personally don't think we bounce above 10.5 before going to ~8k+/-300. After that, who knows but this seems the most plausible scenario to me.

Volume is so small now. Not long.

Thanks for the heads up. How long do you think until the dump? Worth tethering now?

It looks to me like a bunch of big players that want to cash out are settling on the 10k level. So they'll strategically push it sideways at give or take 10k for some time. A decrease in market activity will make "some time" mean "quite a while". Like literally in order to cash out 10,000 coins on stamp right now would mean pushing it down under the 4k mark. And the 3 digit mark is not even double that. So I predict it's going to keep going sideways in the high 9s low 10s for at least a month or two. But then every time I say anything remotely optimistic I end up being proven wrong, lol

This is extremely likely. I think the 10k line will slowly creep down as the whales start to get competitive to exit.

Honestly, the indicators look very similar to how they did before we dumped to 6k. Whether or not we go down that far is up in the air, but if you're gonna tether up maybe around 10.5 and come back in if it breaks 11? There's way too much uncertainty to make a definitive statement so you'll need to leave yourself wiggle room.

>> 7913482
I agree that it seems like they want to sell, but from my perspective I don't think they want to cash out. The biggest wallets have only been getting bigger, meaning they're likely tanking the market in order to accumulate. Obviously neither of us knows for sure, but that could be a viable explanation as to why it would break under 4k if it does.

Yeah. The depth is just so thin right now that if they don't play nice with each other they'll crash the market and nobody will get their money out.

I'm already fully tethered up, entering/staying in a long position at this point is far too risky for my taste. That's just me though.

Based on the constantly decreasing volume as we fluctuate between $9.9k and $10.5k, it could happen any time now. There's no way of knowing, but I'm confident that it's the most likely scenario (as opposed to a bull run).

I'll only be entering a long position if we hit >$12.1k, this would correspond to the full right shoulder of the inverse H&S being formed, as well as the upper downtrend line changing from heavy resistance to heavy support.

Volume is up you dummy.

Aaand it starts

Yawn

I'm tethered up aside from my long terms.

re-entering after the next downward swoop of this correction.

Could anyone kindly give estimates of how far down we are going and how long it will take? Will it be over by the end of the weekend for example? Thanks

Everyone saying its going down.
You know what that means.

There's huge sell walls on finex, but I remember there being huge buy walls during the dump to 9.6, which may have been fake and there just to add volume to the dump

new uptrend confirmed

3k

It's a hard call to make. The day charts suggest that it's going to go down in a spike one or two more times depending on how hard it is; or trade sideways and consolidate along the MA until it breaks out somehow, the information isn't there yet. If it was that easy to know the answer, none of us would be here looking for one.

I wouldn't be too sure about that.

>1 neo second chart

Bitcoin shitcoin

Literally nobody has any clue what is going to happen right now, best advice is to keep an eye on the chart and look for signs of an actual reversal e.g. green candles with sustained volume.

oh ok here's a 12 hour with stoch rsi and vfti giving buy signals

fake dump to 10.2k then 2-day moon to 12k. dump to 9.6k on monday in anticipation of EU regulation fud
EU conference turns out bullish
fake dump to 9k then huge bounce, beartrend broken
screencap this

Why do you have your charts in black and white?

style and glam

user you mean LOCAL downtrend, right?

Thanks guys. Looks dodgy as fuck and has dumped another $50 in the last few minutes. Such low volume. Not going to open long positions. Tether time.

>EU BOOMERS
>BULLISH ON TECH

dude

we're in an uptrend temporarily

let's not get autistic about the finer points

I'm with you g

Joshua you are wrong

Sell

cool bear trap

I hope you didn't listen to this guy

Best of luck to all of us. Be smart and only risk what you're willing to lose.

We are all going to make it.

we were in downtrend from the ATH, which became an uptrend, it then became a downtrend, we have now broken out of that channel with the 12 hour stoch rsi and vfti giving buy signals

notice how it refuses to close below 10,300

ps somebody just spent $200,000 on poloniex buying at 10,334

we're fine

FOR NOW

Oh wow, 20 whole bitcoins

i can't help you if you won't at least read the chart

stay tethered

no bearish engulfing candle yet

short term bull run is still on

agreed, has not closed below 10,300 in at least 2 hours, at 10,390 now with volume rising

BUY BUY BUY

still don't trust this shit yet,
I feel like at any moment this is going to drop.
Sitting on the fence but dont want to buy

>10,401

and here's the pump

THIS

You have to be retarded to buy now. New crash is just beginning. Look at the volumes. Notice how green candles have fuck all volume and then dumps are huge volume? The whales allowed it to get to this point so they could dump their bags high again

INCOMING BULLISH ENGULFING

WE'RE IN THE MIDDLE OF A FUCKING BULLFLAG AND POSSIBLY EVEN AN INVERSE HEAD AND SHOULDERS LMAO READ THE CHART

Have fun losing money retard see you at 8.2k

youtube.com/watch?v=bFtcLJVN8yg

just draw some lines

dont you know TA predicts the future?

You have to be retarded to sell now. New bullrun is just beginning. Look at the volumes. Notice how red candles have fuck all volume and then green are huge volume? The whales allowed it to get to this point so they could buy their bags low again

you are an idiot

red candles with high volume mean it's over sold

I finally got out with only $9k losses but I know it's only a matter of time before I get back in.

WHY DON'T THEY MAKE THIS SHIT ILLEGAL

hey do you guys like that bullish engulfing candle that just formed on the 15 minute, showing yet another bull flag on this stellar bull run we've been on since this morning?

Lol

yes, checked

Calm down, faggot. It's the end of the week final push. It'll go to shit over the weekend, like it always does and pump up again on monday.

The moves it's making right now are right in the middle of normal. There will be no moonshots or crashes in the coming weeks, Bitcoin is approaching stability. It will churn between 11k and 9k, and the money will be made on the slopes.

Sorry, nolambo, all the signs point towards "no lambo for you" for the foreseeable future, unless you get off your ass and hustle.

The problem is you're assigning the same strategy to ALL of the so-called "whales", when it's a mix of a lot of strategies. Alts were in play today, I'd suspect a lot of the volume went there today. Monday, we'll see. You guys are too narrow minded when it comes to trying to figure out what the big dogs are doing, they don't move as a pack. Sometimes they do. Most of the time they don't.