Bought more 48,035
Is it gonna stop?
Will see .... first some more important stuff going on as watching BTC-FIAT price movements Movie playing and after that HODLsleep.... in the morning at coffee there maybe is time to see BTC-FIAT prices Meanwhile 1btc=1btc and that will always be the main importance
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Apart from TA, on-chain analysts suggest this is the bottom as well, such as CryptoQuant, Glassnode and Willy Woo.
We might not have seen the absolute bottom yet, but I bet this price below $50,000 is going to be short lived.
And just to add to all of this good TA... If we take the TA out of the equation and just go by sentiment alone: 1. Average Joe public participation is still low, and overall volume extremely low. 2. Didn't see anything "parabolic" happen with Bitcoin. There was no blow-off top moment. 3. If the Coinbase IPO was the big "sell on the news" moment, then it was the absolute lamest moment in Bitcoin's entire trading history. Everyone knew it was coming months prior. 4. Whale traders in bear markets plan on short/dumping for a least 24-30 months straight after a top (unless we have a double top within the same year). I can't even fathom this happening right now with all the bullish announcements still to come. So I think anyone selling it all rn is going to be woefully out of position and sad over the next 6-12 months. Merit later, just spend my merits on the OP Replenish is a b*tch
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Let's have a look at the charts and compare it to the 2017 bull market -- and more specifically the 20 week moving average (in my charts below I use daily candles to get a better resolution together with 140 daily MA, but that's the same as 20W MA (140D / 7D = 20W)). In 2017, after BTC broke its previous ATH, the price touched the 20W MA three times (blue line) before the blow-off top at ~$20k (see 1, 2, and 3 @ 2017). In the current bull market, BTC has yet to touch the 20W MA. However, we are pretty close now with the 20W MA at ~$45,000 (see 6 @ 2021). I'm not saying that the price is going to behave exactly as it did back in 2017, but it can give us an indicator of what to expect. This recent downtrend is nothing out of the ordinary. Mid-May to mid-July 2017 looks awfully lot like today. Back then the price consolidated between ~$2,000 to $3,000 for two months. After that, it dumped quickly to ~$1800 before reaching new heights. Today the price has consolidated between $50,000 to $60,000 for two months, and just recently it dumped below $50,000. Other trading tools are also indicating that this is near the bottom. If we look at the daily RSI for instance, It only dropped below 30 two times in 2017 (see 4 and 5 @ 2017). Today it's at 32 (see 7 @ 2021) and the lowest it has been since the Covid dump last year (just like ivomm mentioned in his post). Apart from TA, on-chain analysts suggest this is the bottom as well, such as CryptoQuant, Glassnode and Willy Woo. We might not have seen the absolute bottom yet, but I bet this price below $50,000 is going to be short lived. My man.... good post for a Saturday evening Got merited as well I see But WTF is that Is that a merited by ANTS ??
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good morning all... charts #dyor 1h 4h D W #stronghands Detailed word for a n00b like myself please thx And don’t be to toxic, have read WO’s can get a bit when we DIP
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The Wall Observer is still an extremely toxic community, too. It’s lucky for you that platinum is a corrosion-resistant metal!
Well I would argue.. it really depends on Bitcoin!!!! Yes Bitcoin... see if Bitcoin is performing well against dollar you will see a totally changed WO community. But when Bitcoin is loosing its ground against dollar yes the community can be toxic or more like a furious angry lioness so you have to be very careful around here!!! So “The Wall Observer is still an extremely toxic sensitive community.” I don’t know about that exactly... when btc losing value in dollar terms, then the WO thread is a very famous place for FUD-tards, bear-tards, alt-tards, low level human being-tards, NOcoiners etc We have to be toxic against some of those for the readers in the dark.... people are easily being mis guided in a DIP and it’s pity it’s been done from people not understanding, not knowing, not believing BTC.... But imo the REAL WO’s aren’t toxic when BTC dips. Just my humble opinion Dips here and there still acceptable WO can tolerate.... but dip stairs.... hell no!!! Been here more as a whole bearmarket.... I now what I’m saying
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The Wall Observer is still an extremely toxic community, too. It’s lucky for you that platinum is a corrosion-resistant metal!
Well I would argue.. it really depends on Bitcoin!!!! Yes Bitcoin... see if Bitcoin is performing well against dollar you will see a totally changed WO community. But when Bitcoin is loosing its ground against dollar yes the community can be toxic or more like a furious angry lioness so you have to be very careful around here!!! So “The Wall Observer is still an extremely toxic sensitive community.” I don’t know about that exactly... when btc losing value in dollar terms, then the WO thread is a very famous place for FUD-tards, bear-tards, alt-tards, low level human being-tards, NOcoiners etc We have to be toxic against some of those for the readers in the dark.... people are easily being mis guided in a DIP and it’s pity it’s been done from people not understanding, not knowing, not believing BTC.... But imo the REAL WO’s aren’t toxic when BTC dips. Just my humble opinion
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