Breaking out upwards right now so market seems to like the idea of 35k and upto 40k at least some more.  Its a long way from finished as a conversation, the conclusion to to this area is not yet here as Japan opens I expect it to be turbulent but Im interested if breaking up like this is a fake or the start of higher prices.    If we fake out upwards like this, closing the week in such a way yet then moving definitely downwards that should also be significant and could break the back of bullish buyers here to help OP in his negative bias.
   If we stay above the 12hr average and keep pushing possible resistance then it has to called as acting positively even while I do think we must meet and beat selling above here still

Bad news Bears freshly sponsored about to go up against a Brazil team Godsent.   This shouldn't be easy, both teams are capable Im apt to guess the Brazilians will be able to take it but without being sure the best bet is 3 maps I think as it should be a struggle with some close scores either way it goes.
  Also I see the Bears at near 4 to 1 vs mousesports and I understand the bias but its too far so I'll take a small underdog bet for that one.   Its only 1 map, upset heaven and I should look through every game in IEM on that basis really.

Heres the scenario I'm looking for at the moment, its not as clear cut as drawn because we can cross back and forth but its something to watch if we break an old trend and make a new one.



The recent low was a higher low so that could be taken as a line to hold here, not holding that positive appreciation would seem to confirm we are not able to breakout upwards just now.   I dont think its exactly obvious either way just yet though.

Heres a downtrend in play for some time which we are challenging, I wouldn't say its the only trend to observe but passing this is some positive if we do.



We then move into common 50 and 200 day averages and similar prior trades and volume to contend with before market can be said to be positive.   Still more of a fight to do then has already taken place I'd say, likely we need to go sideways for some time before outrunning and outlasting all the negatives.

10% taken from just profits might be ok but 10% taken out of revenue would be possibly a reason for that business to close and lose considerably to competitors.  It depends how its administrated, far better if they take a low amount of 1% but allow gambling to raise its revenues by 10x the amount thereby resulting in the same net contribution to the governments fiscal budget.   Also I'd mention regularity, overly harsh taxation will lead to short term gains but the tax will fall year on year as its not possible to continue, there is no option of right or wrong here just governments must be sensible in recognizing the world of betting is global and their populations are not captive in their spending habits.  
   Quite a few governments only work well for a few years because they are unable to foster growth in their economies, the biggest reason is very often interference with free commerce.

Simple charts are good, the wider the consensus the stronger the move can be when it forms any trend.    Overly complicated points might be correct in theory but unless its a iterative process that eventually envelops all players, some kind of decay to the protocol movements and trading everyday; its not that relevant it will just get ridden over the next time Musk tweets and I don't think he is important at all anyway.

We got a higher low on the chart thats bullish and we cross the 12 hr average, its possible we can turn positive until challenged into next week at higher points.   About 32.k is 2 day average and theres a good trend and weekly average about 1k higher then that, those are the near term targets to beat.   If we beat that trend I'd estimate a possible bottom price could be debatable from there on.

Its still quite possible to reach this high and more but to do so requires usually a combination of factors and the easiest way to frame that argument is momentum or inertia must build.    To push past highs will take more time then the rest of this year imo and I'd not estimate it currently as we havent seriously yet started to do so.   
  Right now we are in house keeping mode, clearing out the trash left from the last street party where everyone walked in expecting to double their money and finding out its a bit more complicated then that.   Clearing out prior volume and trades will happen but its usually related to time, those too over reactive will say never which is too short sighted.    I'll be more bullish when it starts but for now we consolidate at these higher prices, establish a range a good bottom and work back up from there.
   Its for the better in market stability that a good base is formed not that we just explode higher suddenly one day; reason being the best market is inclusive of all in a varied cross section not just a few.

Poker is well worth the effort, it is still a luck game primarily is how I'd view it not exclusively the domain of the elite imo though to win overall will take some doing.   If anyone wants some practice though its a free entry I could understand that, I can recommend a few casual programs/games that are quite easy to get hold of and play vs other new players for just free tokens type games.

G2 doing good work to challenge this closely but Navi win the round match and series with just 0.2 left on the defuse.   Great highlight but also they should not let s1mple clutch like this knowing how he is capable of this and more, forcing him to plant and then forcing him with multiple attacks would not have failed imo but hard to blame them.
  Navi deserve the next major win imo

Shorts being very high in some unbalanced way should prove bullish, all shorts are future buyers.   If I rephrased it and said sometime in the next quarter we have a whole queue of people waiting to buy its not that negative a thing so long as external events don't justify their expectation of a lower price.   Even then I would buy that low knowing others also will (re)buy with me.   Its also possible a large deposit is being hedged, I imagine lots of those who hold BTC on their balance sheet are taking part in various strategies to hedge vs other currencies.

January action is most relevant this week, we are closing outside that prior price action and volume.   Also the 50 week average is relevant, I think we have to be closing above 36k on daily and weekly bars to certainly change inertia from trading negatively.  Its a rag being wrung dry of all the speculators and leveraged players who give up without immediate returns.

Iam interested in the rough cost range offered and if the source of the power is renewable or non renewable if you are willing to say publicly at all  thanks.

People who need money will sell, gamblers and speculators who want action on command, anyone who hoped to receive back their money in a similar fashion to prior months this year will now be selling where as the more long term perspective holders will retain more patience.
   Always expect selling, literally every day expect a trader to buy then sell as he begins then closes his session because alot of the money is borrowed for the trade not the hold.  The waves back and forth are normal as part of that, add on any bad news and normal amounts of selling and theres always great reasoning for us to go down.    I expect sell like I expect the rain, sometimes we can grow despite, even because of the selling and dollar remains weak but theres a whole asset range in the market to compete with returns vs just crypto.

To establish positive action its important now we stay within range of January action and also accumulate above moving averages such that we reach momentum to challenge more obvious levels like the 200 day average and I think 40k has become a general pivot area.



This is a messy fast chart, 15m bars but the idea would be simple stay above the blue line for fast momentum and if not then at least above the horizontal line which is important support across days and weeks.  Target is just below 40k where we will meet our old friend the 50 day moving average and this is probable selling and where a true measure of strength will occur.    For most of the 2021 we stayed above 50 day so its a weight over us now.
  Just now the highs are retracting from weekly average which is the standard boundary between negative and positive trending market.

I do think crypto has to become 'fool-proof' as part of its expansion into the mainstream, yea mistakes happen but thats just people and to be expected.   I wont fully believe the hype on any crypto till they round the edges off to stop people wrecking themselves in ways similar to this, to do so is to raise utility but tech can be quite elitist and dealing with a public audience thats a negative imo.
   So in a way it shouldn't happen whoever is at fault but also we all carry that personal responsibility to double check everything and thats a pain to bother to do also.    I would say copy into notepad multiple times to compare addresses as accurate and so on, double check the address on a blockchain explorer.   Ideally send test amounts but this isnt always possible to do with fees discouraging this approach.

   I have had similar kind of thing happen where I told someone not to use the address as it was an exchange that doesnt even accept that token and they said sure we will update payments prior to usage to a proper wallet address you have given us.  So they sent tokens to an exchange which till this day wont clear or help process the transaction unless I pay a thousand for the privilege or in the due course of time I have to hope that token goes massive and the exchange lists it,  Hasnt happened yet tough luck and the people who sent it to the wrong address shrug it off as not their problem, its listed on the exchange address as received but is unusable or irreversible so far as I know.  Wasnt even my fault that one, I presume it comes down to paying someone for the time to undo the mess on this one tbh.

The 55 to 40k area is not that large, in terms of negative I would still expect a proper frightener which is more like 20k but that might only last 10 minutes Im not sure.   This slow and steady pullback isnt that negative is my bones are telling me :p   just my experience and I can be off but I think its quite a natural move to consolidate price action.  Considering how massive the rise was thats fine.

Till we trade above this average I'll assume we have negative action still to play out, I dont take absolutes its just an attempt to keep track of how market is showing itself in near term strength vs weekly bars.  This is the Jan range and we are challenging but possibly confirming below, I'll continue to observe that process ongoing.

If its too late to join then we are doomed because most of the world hasnt started using crypto yet and if they dont find this then it'll be some other product that represents people better.    If you dont like high prices just buy into BTC when its in relative gloom rather then waiting to join in on hype and the endless perfect scenarios played out.  It wont be perfect, they'll be bumps in the road but the overall gain is that Bitcoin has longevity far beyond expected and that continues to raise the price also the product itself is improving and integrating further. 

Heres a good place to watch for direction day to day, its closed yesterday's daily BTC bar just under range but the price action just skipped upwards to challenge this area again.   If we do confirm below and close similar to yesterdays bar then its likely to be far more bearish in future.   However if we regain resistance then look at 40k area as possible to regain now.

Theres alot more newbies then there are other types of players.   A person with 1 lottery ticket took the main prize not because that is at all feasible to do but just because there could be a million people like him in that lottery who barely qualify but collectively they have odds to win.    In order to weigh this up consider the groups together rather then each player.
   I done their faucet many times, the odds on the wheel spin are far better I think though in neither case have I won the top prize overall I've done better on the wheel spin.

Heres a fairly clear pattern but its just trading below the 2 day average.



To a wider extent, this area is resistance just because the amount of prior action here previously.  Its easy to draw a level across on this area, this is only 1hr bars so its really short term action but enough people got scared by the sell off to 29k that they remain sellers at 33k.   The best perspective is gained by examining multiple charts across time frames larger then this, 4hr and daily is an ideal start to see better where we can move.

The bottom of this move or overall even is when enough people jump in regardless of any general doubts.   You can tell where that is personally to some extent, problem is the market has a crowd mentality to it where nobody wants to go first.   Hence we will over correct and it always occurs like this, anything sub 30k is a value area is my take some time ago and here we are reaching into that area.  It should catch somewhere around here but its all relative.