Okay now what?
you think it's going on a bull run?
without a doubt
only idiots believe 'its all over'
How can you call that a double bottom when it didn't reach the bottom twice....? It hit 6k and 7.3k. Never tested 6k
Just my thoughts...
Unless we literally implode for years to come (a possibility), every long term trend tells me we are going to be bouncing hard soon. I cannot predict the future but I don't see why we would fare worse than Mt. Gox.
I honestly don't see how btc could possibly end up going to lower support levels as Mt. Gox was a completely different time for Bitcoin. A catastrophic black swan event where nobody could sell and there was no liquidity in the market.
Every time anyone has bought at the bottom of this channel, they've made significant returns... I currently don't see any fundamental or technical difference to change this trend.
I would definitely close any shorts and wait for a reversal confirmation if you want to be safe before opening a long. We still need a high volume bounce.
Are you saying it will go up a lot?
Let's see if it breaks 8600. And the other poster is right it hasn't double bottomed yet. Bottom would be around 6k
without a doubt
only idiots believe 'its all over'
Thank you, I also agree with your opinion. I just would feel better about it bouncing off of 6k instead of the 7.3k that we saw yesterday. This seems too impulsive and abrupt and I think it's because a lot of people are fucking tired of the constant bleeds and want to believe it's over but I'm not convinced. I believe BTC will be going up this year but I feel iffy that this is the start of the recovery.
In your opinion, what would constitute a reversal confirmation?
Thanks all 4 BTC
No it wouldnt a bottom is a reversal of downward momentum, it could be $3k, $6k or $7k. Makes no difference as long as the price had bounced off it.
Please remove yourself from the gene pool.
The only reason it hit 6k before was the that the chink sold the bottom and it bounced off at the speed of light.
High volume and price bounces. giant green dildos.
If we don't and we break the parabolic channel, things could get ugly again (5-6k at worst)
We SHOULD NOT go back to 6k because that would break the parabolic long term trend. Maintaining this is important. Breaking a parabolic trend is very bad but bitcoin has been resilient thus far.
I've just been sitting on the side lines tethering and buying back in when it looks to be going up and then selling when it looks to be turning for the worse. I'm literally stressing myself out over this shit fuck
so why does your channel conveniently expand towards the end there to catch the latest dip. why is it not more like pic related showing we have broken down and going towards zero
>now zoom back in
Make less trades. It is actually that simple. The crypto market is highly emotional, you will make more money if you just wait for a reversal confirmation and then stay in for a longer period of time.
If you want to see when this trend started, here you go. After Mt. Gox we entered this channel and haven't left it since. That line you drew is where some people thought our long term support was but clearly it wasn't that parabolic.
There isn't just one degree of parabolic. Bitcoin simply isn't that high a degree of parabolic.
>now zoom left
Holy fuck shit
Its just one ginormous cup and handle
One last question.. I wasn't around for the Mt.Gox dump but is it a good idea to just hold BTC for now and wait until BTC is strong and healthy before going into alts? I held a diversified portfolio before tethering up and so now I'm 50% down on my initial investment like a loser.
How do you make nonlinear lines in tradingview?
>now zoom to the right
>make less trades
I wasn't either, but I do know many maximalists that no bs thought crypto was dead. That isn't happening at all this time, everyone agrees (even the bears), that eventually we will reach new ATHs, so it is just a matter of getting the cheaper coins.
As for alts, I'm generally less concerned with. Probably someone better to ask. Golden rule, if BTC is healthy, so are alts. Alts will not 10x unless BTC is staying in the parabolic trend. As for timing, I'm assuming it may start a bit earlier this time since alts crashed very quickly. You could start with higher cap alts or bottomed out alts first and work your way down.
see pic related. Make sure to turn on volume. Volume is just as important as the price.
newb question, senpai- how do we spot a reversal confirmation? thanks
zoom out further
basically, just watch the money. If volume spikes up again and the market cap climbs up, then were maintaining the parabolic trend. If not, it won't be fun for a bit.
If we don't bounce up and we end up breaking the parabolic trend- then strap in for 5-6k. I believe that the bottom is either in or very close (read my other posts about gox comparison).
Just saw your answer here, nevermind. Thanks a lot.
I explained why in my other posts I don't bother comparing this to gox.
noted, cheers man.
have fun investing. this is just my thoughts and you can choose to disagree or think whatever you want.
nobody can predict the future but I can sure as hell try.
Not him but from my own experience and observation, there really is no strong correlation between market cap and whether or not the alt will take off first or last relative to the others. Its all about some piece of news coming out to draw in attention or something being FOTM. "Reddit Coins" might be a good place to start.
idk why I listened to you fucks. I was in tether and I switched over to btc after seeing this thread and now it's dropping again. Fuck you brainlets
praise kek, bullrun confirmed
make less trades.
if you think we are going to be bouncing then stay the fuck in.
if you think crypto is dead and going to implode (I don't see this happening), then exit to usd.
I said most people should just wait for a reversal confirmation.
>comes out of tether based on a single thread
>gets skitterish that there's no immediate magic
>tethers up again
>"you're all brainlets for making me do that"
what website is this?
shutup you dumb faggot and just deal with it. we are about to blast off
I didn't tether up again
Tethers up based on a $70 drop
my bad. unironically, all the best of luck to you, user. it may suck a little on the way there but we're gonna make it.
>All this delusion ITT
Face it, your internet money is gonna go down for MONTHS to come. This is the first time BTC has gone down below the moving averages for YEARS.
B-B-B-But it's different this time amirite?
I explained why I believe it is pointless to compare this to gox.
If you don't want to use log, try charting something parabolic like Apple or Amazon, it doesn't work.
It has to close below the moving average to count you faggot
Thank you fren, you too. I agree we're all definitely making it
You think it's actually going to go above the MA with just one week remaining? You're deluded.
You're probably fucking yourself over with taxes if your plan is to hold for more than a year.
Think of it like this.
Say you buy 1 BTC jan 1st and BTC is worth 10k each.
Now BTC goes to 12k, you think it's going to bounce so you sell at 12k, and buy back in at 11.5k. You now have 1.04BTC but your taxable income is 12k-10k=2k.
BTC then goes to 15k, you know it will drop after the rally and so you tether up at 15k. It does drop so you buy back in at 14k. You now have 1.12BTC and your taxable income for the year is (14k-10k)*1.12=4.5k.
You do this a few more times or with a large amount of money and you get fucked over with taxes. If you're in the highest tax bracket (about 50% in most places) then you now have to pay 2.25k in tax at the end of the year. If your BTC is worth 15k at the end of the year, you only have 0.968 BTC left after you liquidate 2.25k/15k BTC (0.15 BTC) to pay for taxes.
So after doing successful trades all year you end up with less money than you started with. Being a hodler isn't a meme. I found this out the hard way.
Look at the previous months candle, its done it before
ETH is even doing worse, but go ahead invest in the crypto space.
stop using exponential charts u retard
Even if it doesn't, it doesn't mean we aren't going to bounce. The death cross doesn't always just play out like that.
I said it before but most people are probably best off waiting for a reversal confirmation. I'm not saying we are 100% going to be bouncing soon. I cannot predict the future, I can only use previous performance and make my own decisions.
The previous month had 3 weeks to work with to close and make a comeback genius. Like I said, DELUSIONAL
OH NO NO NO NO NO NO
Newsflash: Markets dont go straight up or down. Even in bear markets, there are short-term upward movements before resuming the downward movement. Doesn't mean it 'bounces back'. Why are people so delusional? It seems people don't seem to learn from the bubble/boom-bust cycles in history.
this is critical
Lets not mention the previous month was $2600 lower than we are now.
Lets not mention it went from $6k to $11k in 2 weeks.
Thinking BTC can increase by $2500 in 10 days is not delusional you fucktard.
you're free to think it won't bounce back, it might not.
I said I believe it will bounce back based off of the parabolic trend after gox. It has bounced back every other time since then and anyone who bought the bottom of the channel made the most.
>Lets not mention it went from $6k to $11k in 2 weeks.
>imagine being this delusional he has to make shit up
Last month's bounce or "comeback" as you call it had 3 weeks to work with in order to rise back up and let you suckers FOMO in what was an obvious bulltrap. How you are this delusional and emotionally invested still amazes me.
how the fuck have I made stuff you low IQ street shitter
its there in the fucking candles.
fuck me being this dumb and thinking you can put the world to rights.
Last time I listen to idiots and their TA on here. I fucking knew we were going down and was in tether before moving back into btc after reading this thread.
>its there in the fucking candles.
Like I said, delusional. Took 3 weeks for that to close as a comeback in the monthly charts. Doesn't surprise me why you keep holding to your false hopes. You bought at the highs didn't you?