we keep telling ourselves these stories
these charts do not look good
So if you are so nervous, what is your "I'm out" price? and sell at the bottom? please rather wishing, however, that my "I'm out" price had been at the daily MA cross..which even with the losses incurred in 2 false signals would have been well in excess of 13K Meh, I wasn't motivated to sell at $19k, $17k, $13k, and not now at $10k. And I'm fully aware that the market could bottom at ~$5-6k. In fact I'd just be looking to add to the stack if we hit that. Here's the thing: ETFs, ETFs, ETFs. They are coming! Wallstreet knows this. What do you think will happen to the price when Bitcoin ETFs come online? Do you really want to be out of bitcoin when that happens? Do you honestly think that you'll get advanced notice? |
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we keep telling ourselves these stories
these charts do not look good
So if you are so nervous, what is your "I'm out" price? |
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The problem is, the correction's just far to sharp and deep for it to be the start of a long term bear market. What's happened is it got overheated in December, then the bubble popped. Then shorters took control and it gets oversold. Then the short bubble pops and it generally ends up halfway up the retrace where it stabilises. So that would be around $13,800 if it spikes down to, say $8800.
If it really was the start of a long term bear, what usually happens is you get a bubble popping to, say 30%, 40% retrace, then a slow build up over a couple of months, then lower highs from there on for 6 months to a year. This isn't like that. It's a perfect bitcoin overheat retrace type correction (IMHO that is).
Lets see what happens when the shorts close and re-assess as we're getting into oversold territory at increasingly long ranges now. RSI is confidently oversold at all ranges up to the 6 hour already, 12 hour is just entering and 1, 3 day are not far off.
I agree. I mean, just look at the 1d chart on Stamp. The short/sell volume has been falling ever since the ATH. Right now in comparison to previous legs down, it's pathetic. |
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sub 10k
i think this time it will stick
Perhaps. Bitstamp seems to forcing the fall. Lets see if $9200 holds. In the meanwhile on finex someone is going full retard bidding with those couple of billions USDT to get some cheap coins:
Maybe Tether was adopted by Bitfinex specifically to prevent plunges? Our hero? Lol |
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Recently stock market took a couple hits too. Who knows if this is relevant for the immediate future.
So the bond market sold off today, the U.S. stock market sold off 1%, AND Gold and Silver got hammered, AND crypto got FUD'ed. All on the same day, at the end of Jan? When some of those things should be inversely correlated?? Yeah, makes perfect sense.  Expect all markets to continue bull run. |
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Chief bitcoin troll at University of New York Stern School of Business is enjoying himself.
Good lord that guy is completely fixated on Bitcoin. No doubt that he's a central bankster puppet. |
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Lets suppose a scenario where everybody wanted to cash out bitcoin and every other crypto-currency, to sell it for fiat, all at the same time, every single holder.
So, 500 billion dollars would be withdraw in a single day.
Do you think the exchanges would have that amount of fiat money?
Not only that, but does anyone believe the network could actually handle the load of a mass selloff of all the bitcoin in world simultaneously? Not a chance. This is not HFT. It would take a year to process the backlog of something like that. Exchanges would just execute plunge protection and shut down. Couple that with their having to be a buyer for every seller, and double no chance. |
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Hey quick, Someone wake up JJG so he can tell me again that there are no pre-planned, coordinated attacks on Bitcoin. I've been wondering about this myself, seems like strategic FUD. Death by a 1000 cuts. Sure. But think about it like this. If they just wanted to sell, they would just dump everything without any corresponding FUD needed. But they obviously NEED some new FUD to short because the market is being stubborn and they can't shake out enough coins from exchanges. It means they are getting desperate. It means that they are accumulating, not just selling off. And if they are accumulating, then for what future purpose? Whatever it is, that could be coming sooner than we think. |
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Waiting for ALL crypto to ban Facebook. Now that would be something. Mark Zuckerberg was asked by a reporter way back in 2013 if Facebook would ever integrate Bitcoin, and Mark played coy and completely panned the question. When I saw that and how he handled the question, I knew that the existing financial establishment had already gotten to him. He's been silent on the subject ever since. |
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This is exactly why when people say that Average Joes were largely responsible for the liftoff in Nov/Dec, I say they are completely full of shit. |
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Bloomberg officially updates their article. Just wow. Isn't the fraud of the MSM just great?  |
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I feel this is just one last (or next-to-last) weak shake. The bears must be out of breath. And out of coin. Yep. They can't keep shorting coins on the exchanges if they run out. Funny thing is, Wallstreet was running the stops in the stock market today too. I feel that they have fresh money coming in (repatriation), and Feb. will start the ball rolling. |
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Notice
How
All
Shitcoins
Are
Pegged
to
Bitcoin's
Price
There
Will
Never
Be
A
Flippening
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Hey quick, Someone wake up JJG so he can tell me again that there are no pre-planned, coordinated attacks on Bitcoin. |
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"We routinely receive legal process from law enforcement agents and regulators conducting investigations," Bitfinex and Tether said in a statement to Bloomberg. "It is our policy not to comment on any such requests."
routinelyRoutinely: on an ongoing basis. Like all the fkn time. |
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This is so transparent it is laughable.
The timing is pretty over the top...they really think we are that stupid...I suppose that fact in and of itself is a tradable data point. It's gonna be pretty laughable when the opposite of what they expect happens, and their shorts get squeezed to hell from incoming buyers trying to BTFD. Also, do they really think people don't know legal due process? A subpoena is nothing, no action happens immediately. You can lawyer up and kick the can on shit like that for months or even years. |
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"The U.S. Commodity Futures Trading Commission sent subpoenas last week to virtual-currency venue Bitfinex and Tether..."
Last WeekSo think about that, HODL, and BTFD How low is this going to go, I wish people would man the fuck up & stop selling at th 1st sign of what looks like bad news. They're not though. The whales bought up everything between 7.5K and 19k. They're literally dumping and shorting into their own bid walls. Average Joes aren't fast enough on the trigger (unless they are stop loss selling). |
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"The U.S. Commodity Futures Trading Commission sent subpoenas last week to virtual-currency venue Bitfinex and Tether..."
Last WeekSo think about that, HODL, and BTFD |
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