Am I crazy for thinking btc is going down?

Even if the TA fags are calling for 16k, am I crazy thinking this shit is going down soon?

Btc was trading at below 1k last year, interest in btc is down, we bounced from 6k to almost 12k with weird dips and flash crashes. I look at the order book and its just whales manipulating, and the fact that okex has so much volume doesn't give me much confidence (never trust a chink).

After such a parabolic growth, I just don't see 6k being the bottom and thats it. In my head this is going down to 7 or 8k and if we reverse from here with high volume its bullish. But if we don't, we are going way lower than 6k.

What does your gut feelings tell you?

I'm so sure that its going down that here are one million satoshis. See ya dude. Hope you buy IOTA SOON

My gut says down but my brain also says down. Veeky Forums says up so that's like 3-0 for going down.

No you aren't. this is like the 4th bubble Bitcoin has gone through, and it has followed a similar pattern every time. Most TA is handwaving bullshit that has no mathematical backbone. Which is why Veeky Forums has made it into a meme.

you should be racing out the door with your money

NOOOOOOOOOOOOOOoo MY IOTASSSSSSSSSSSSSSSSSSSSSSSS THEYRE GOOOOOONNNNNNNNNNNNNEEEEE

the thing is that people here do TA and yes it can show bullish on the 4hr chart, but they forget that btc went from below 1k to 20k within a year

and that in the grand scheme of things, we are still overbought on the monthly

You're not alone in that. This whole thing is clearly manipulated. They had their run with the SEC meeting and took advantage of the short term sentiment to take it out of its slump but it's been losing steam ever since. It has consistently been failing to go above 11.5k and it's as if it's been met with someone/group of people who dump on that area no matter how much they manipulate price. They're can't do this forever. It's like giving free money whenever that happens. Something's going to give and it's gonna go down.

Then the alts go and I get rich right? RIGHT!??
R I G H T ! ! ? ?
I
G
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T
!
!
?
?

Oh and more meme lines. My gut tells me it's a fakeout to lure people to FOMO in. I'm sure there are many of us in that regard. You don't go 70% down in just two months then pretend the downtrend never happened because of one SEC meeting.

I used to think its whales defending their positions but lets be honest , btc whales do not trade, most btc whales are so scared of touching their coins that they did not even more then to sell their bitcoin cash.

So I guess its the exchanges moving the market.
If we have days ( like today, pic related 4hr candles) with very low volatility, the big losers will be the exchanges as they will collect less fees and people will lose interest over time. Thats why we see huge coordinated pumps out of nowhere

Until it's an actual medium of exchange it's shit

You're not accounting for the second round of FOMO.

>an actual medium of exchange
>BTC

I also feel like this.
Real volume is missing.

>I guess its the exchanges moving the market.
The more and more I read about the Tether and Bitfinex connection, the more and more this is likely. I mean wasn't Coinbase just sued for insider trading just now?

Exactly this, I work a crypto related job and I'm seeing more and more people being ok with it not being a currency. They're ok with the store of value meme. My argument is that it first needs to be a CURRENCY in order to then become a store of value. Too much greed..

>Even if the TA fags are calling for 16k, am I crazy thinking this shit is going down soon?
Its only the fuckers who bought at 11.4K who are shitting their pants because they relized they bought on the top of the major fucking dead cat bounce. Nothing has changed, BTC is still not adopted and it is ridiculously overpriced. It will moon, but major adoption is needed. There is no new money flowing in anymore. The tether scandal needs to be cleared out before new money will start to flow in.

The possible second round of FOMO if it comes, is coming up slowly starting now and rolling up during 2018. And this is the fomo from institutional inverstors. Question is how big will it be? do they really want to put much money in memecoins? And also, hedge funds are not HODLERS, they sell and they also go short

Yes and have look at coinbase subreddit. You can't really trust nobody in this market.

Bitcoin is what happens when autists weaponize their autism into a "currency."

Get out. Invest in Chad assets

Thanks bought 100k.

>The more and more I read about the Tether and Bitfinex connection, the more and more this is likely. I mean wasn't Coinbase just sued for insider trading just now?
Yea, and US officials are investigating tether right now. It basically allows people to avoid taxes, its gonna be fucking shut down any moment. The exchanges are pumping the price up now to make normies buy the expensive shit before the whole market crashes down.

Wait, did a double top just form?

The only reason why we are still up is that there were huge buy walls at 11.1K and 11.2K. They made absolutely no sense because the whole market was selling. It makes me think exchanges are scared shitless that they will go bankrupt if everyone wants to cash out when they relalize its going to fall to rock bottom..

They're just prolonging the inevitable if that's the case. These exchanges need to come clean if they want the long term survival of crypto. Then again, human greed and short sightedness always does wonders. When will people learn?

Ypu also aren't accounting for the fact that there are people who bought at 20k and got burned when it went down to 6k. In their eyes it's a scam and people are gonna avoid it. It's still fresh in their minds. Also institutions aren't that stupid. If they can buy, they'll do it at a lower price. Goldman Sachs bought Poloniex through Circle while at the same time has been fudding crypto to hell with their "analysis" saying it's a bubble. They're clearly positioning thenselves in to buy in cheap.

2+2 user. It's Jews and their games again.