Looks like we'll be getting to that 30% correction.
So far a 25% correction at 48 338$. Is this all the bears can do? Are they out of ammo? Because if so, this will hurt them a lot in the next weeks. Below 50K is too attractive to remain longer than a couple of hours. |
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I've just bought 0.275 BTC at 53 300$. If the price doesn't fall below that (again), this anomaly will be for the first time in my life  |
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Speaking of past cycles, there is something interesting I've noticed in the present bull run which resembles the 2017's bull run. We can divide 2016-2017 bull run in two parts. The first is from May 2016 to May 2017. The price increased around 600% from the average price 500$ to 3000$. At the same time 3000$ is a 300% increase from the previous ATH 1000$. Then we had 2 months sideways action in the range 10-20% below the 3K ATH. And from August 2017 to December 2017 the price increased 600-700%. And now we have exactly the same situation as in the Summer of 2017 - 600% from the base of 10K in May 2020 and 300% from the last ATH of 20K. We have already 1-2 months of sidewasy action, so it remains to be seen if the next 6 months will repeat the 2017 pattern of 600-700%. Starting from 60K that would be a top between 360K and 420K.  I can live with that  I mean, literally And this time I really doubt we will see a 85% bottom from the last ATH. IMO it will be more like 35-55%-ish. |
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$4.86 billion worth of BTC positions got liquidated over the past 12 hours, and $9.12 billion if you look at all markets. That must be a new record. https://www.bybt.com/LiquidationDataI see now why some nasty bastards offered millions to buy twitter account with many followers. This was a planned attack and the n00b traders fell for it. Of course the news is fake and the market will recover quickly next week. Now the obstacles for a full-blown bull run above 100K are removed. No more high leverage longs, no more weak hands squeezing each pump. The bulls should be preparing now! |
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The unmentionable exchange BTC/€: 49 400 which equals $59 181. Just lolz This "crash" is the funniest FUD flop I've ever seen Weak hands removed, shorts/longs liqudated... Nothing can help the bull run better. I expect over 100K in 1 month |
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The way I see it is that in the last month the bears first failed to break the 52K support. Then the support shifted to 56K and they failed again. Now it is around 60-61K and they still can't break it even though they've been trying hard in the last couple of hours. Again, they see the weekend low volume and think this is their chance. But in general a move in either direction with such a small volume will be neutralized in a matter of minutes, when the volume returns in the next days. There is no significant inflow into the exchanges and the reserve will decrease at least until prices above 120K. The hodlers are not willing to sell anything in this dead zone. Honey badger doesn't give a f**k about weak hand low volume sells. As always hodlers buy moar. So do I 0.65 BTC  ding-ding! |
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i am a bit concerned with stockmarket/dodge/btc/everything pumping....bet everything 'adjusts' or 'corrects' about 15-20%
Right? Like, everything's fun and cool but it's kinda scary that we've re-entered a 2017-like phase of the markets where literally every shitcoin pumps. Wouldn't necessarily mind an even deeper correction but I'm more afraid of a crypto winter instead. Feels like there was so much hype ever since 2020 and I'm not sure how healthy this long of a hype is. Damn, I'm so mixed up with my thoughts. I see Bitcoin pumping the hell up but I also see it dumping hard. And these alts are so damn tempting to get into right now just to multiply my BTC, but I know it's a somewhat repeat of 2017 and a lot of hands are gonna be baited and screwed hard by alts.. on the other hand, I've seen the markets for so many years and made enough mistakes to approximate when it's time to purchase alts and when it's time to dump them all, and it seems like we're right in between the two so I stretch out every millimeter of my brain thinking whether I should react in any way to the markets or just see my portfolio value act up like a tsunami instead again, lol. Had ~20 BTC only from 1 alt back in 2017 but greed took over. I've basically seen that turn from 1 to 20 BTC and then back to less than 1. Alts are great if you wanna multiply your coins quickly during these kind of times, but otherwise they're just traps waiting for the next victims The best advice has always been: Do not invest in shitcoins! You could win but then you could lose all. The risk is too big. Besides, you will lose your sleep if when your shitcoin crashes day after day for 2-3 years, hitting 95%+ loss and no guarantees for a recovery. The shitcoin pumps were abundant in late 2017 indeed, but how can this be a sign for a coming bear market now? May be they attract the risky players more, but are they needed for BTC's price discovery? I don't think that the weak hands are good for BTC. The other and way more important short- andl longterm market indicators are not present for such a U-turn currently. You can follow these market indicators on glassnode website or by just reading their articles. May be the things will change if the exchange reserve increases 33%+ and the 2 day pumps get close to those in Dec 2017. Then we had 66% pump from 11K to 19K-ish in 2 days, which was hardly sustainable and the weak hands got scared and started selling. With 6-7% daily pumps currently we are very far from such a scenario. But even if that happens again, it is a matter of 2-3 years max to recover and surpass the previous ATH. During that time - DCA only! It will be good enough for the next bull run, no need to be greedy and use shitcoins. |
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So it begins, the final approach to 100K!  |
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My job is not well paid even for my poor country, but I have no moral right to quit. This is a dream prestigious position that I worked very hard to get. It requires talking with people mostly about computer technology and Bitcoin for 6 hours ... per week (edit: plus 5 months paid vacation per year). Yes, my bosses are idiots and they try to humiliate me in every possible way. I could become a boss too, but that would mean I have to work 8 hours per day, no thanks! But they have no idea that my wealth is equal to the yearly budget of the whole organization (which has hundreds of employees), so I am quite happy for now and gloat from the inside . But I'm thinking of finding an income on a certain island where for now I intend to spend each Summer. And at some point I can settle permanentrly with the help of the stash I have. Theoretically I could buy a small 200-500m 2 villa and live without an income for 2 decades, relying only on my BTC stash, but I am afraid to take any risks. Hopefully this dream will become true soon. Hitting 200-300K price target will make the things much easier for sure |
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Well, we have a new € ATH for today!
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This is the chart of the amount of BTC held in the unmentionable exchange wallets.  For the last 24 hours the reserve decreased with another 12K BTC's.  The price theoretically can't stay below 100K for 2 years, otherwise after 2 years the traders will have nothing to trade with. And this practically means that 100K can happen in a matter of weeks. #provenbymathandscience Edit. Only a n00b trader can see a double top with a consolidation in the 57-61K area for nearly 10 weeks. This is the opposite of what happened in 2017. Then the reserve increased with over 1mil BTC's in a matter of 3 months. And that wasn't the hodlers BTC's. Remember Wu, Ver and co. converting about that amount BTC's for their shitcoin? The good news is that this will never happen again, hence the hopes/fears of some for a similar development are vain. |
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Good morning WO. Yesterday I voted new ATH for today. Let's see  |
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There seems to be a lot of buying potential and people wanting to get in, but they are still hesitant about which direction BTC will go. All indicators show that the direction is up, so even a black swan event can not prevent this from happening in the next 2-3 months. The possible resistances IMO are 80-85K, 115-120K, 160-170K. The more sideways action with <30% dips, the farther we can go. Perhaps 333K-400K in the next 12 months, or even 500-600K are completely possible peaks (only 10x from now).
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It seems that the americans are in the mood of selling in the last month. As the day develops in USA, the red hours on the unmentionable exchange are always in a row of 8-12. Which is pretty odd considering how inflatory and useless the $ is becoming each day. I really wonder how with small <1% profits or even cut losses they will cope with the inflation which is huge and perhaps heading to a hyper stage soon. Ok, go ahead, sell your 0.001 BTC and feel rich More cheap coins before the next 20x increase P.S. And the narrative that those stimi checks that the americans would use 10% to buy BTC, according to the surveys is just lol. It was logical and right to do, but... It turned out that not even 0.1% were used for that if we compare the volume in the last month with the previous months. Whether the "clever" americans think that BTC is now "too expensive" or just want to feel rich with that stimi checks and add to that selling with 1-2% profit their BTC stash is not clear. But it is quite "clever" indeed,... beyond comprehension. |
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Just waking up and my jaw dropped when I checked the chart. I didn't expect that! Well played bulls, well played! Once again the panic sellers, trolls, bears, etc. were beaten hard  |
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Yall selling today or hodling? My gut is saying sell and watch for 52k. My mind says do the opposite of what everyone else is doing and gobble some up. They are both wrong 50% of the time.  Sell now all your 0.000001 BTC. Then rebuy at 59K. Rinse and repeat! |
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Good morning WO! The "battle" for 60K continues, but not for long. Short-sighted daily traders don't realize what is going on and sell their last 0.0001BTC what was left from their initial 0.01BTC. However, the bigger picture is quite good with all the big investors in play. And the liquidity crisis is getting even deeper. The BTC reserve on exchanges continues its descent which started a year ago. Currently the decrease is between 25% and 33% on the various exchanges. And this is a lot! In 2 years there won't be any Bitcoins left on the exchanges, if this trend is kept. In the last 24 hours only, for example, the total reserve decreased with nearly 100K BTCs (-4% for the day). And on the biggest USA exchange it hit another low with a -10K BTCs for the day. And this happens almost every day. This is the opposite to what happened in 2017, meaning that we are at the beginning of the real mass adoption which establishes Bitcoin as the best performing asset in all times worldwide.
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