Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.
But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry. |
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Everything about this screams indecision! Whichever way we break, it'll be massive.
Not necessarily. I'm half expecting a revisit to $160-$170 if things get bearish. But it will be on lower volume and act as a way to clear out the few remaining bears and weak hands--however the initial crash did a pretty good job with that--and will act as a spring upwards. Since the weak hands won't be there to dump into a rally, it will be stronger and more sustained. This is why large reversals follow large crashes, and vice versa. |
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 ?At least on the basis of equity markets, descending triangle patterns break to the downside 64% of the time but that doesn't mean it can't break to the upside. Looks more like a wedge though from the swing lows. Whatever it is, you need to take into account the market background and not simply draw lines around arbitrary support/resistance points and look for pattern matches at investopedia. That is not good TA. The background is that we had a reversal with record volume. That means a lot more than triangles, and is potentially very bullish. Super risky to short this. |
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Dogecoin Breakout imminent... 1D and 3D crossovers happening and the 1 Week is about to crossover for the first time in over a year  It's a puppy trap! HA!! |
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What's the most bullish thing imaginable? I would like some brainstorming please.
miami leaks show that the manbearwhale is the winkle etf and is indeed accumulating big time for all the secret investors. the bulls manage to push the price back in the high 200$ area which will create the biggest trendreversal hammer known to mankind. manbearwhale soon aka willi2.0 has finally accumulated enough and is now pumping with his remaining profits causing a lot of panic buying, an epic short squeeze and 2000 more pages of rocket and train pix n stuff.  Miami leaks? Do tell. |
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Around 400 is when I started buying again. Buying many more at these levels. Buy low, sell high, ignore the trolls. That's how you play the game.
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I think the max. value that bitcoin will reach this year (will be) $500, because this time there will not be the karpeles bot "willy". We already missed the "moon" of a thousand dollars per bitcoin , but maybe between 5-6 years we will see again 700-800 dollar.
I'm still holding ...
Unfortunately that's not how thinly traded markets operate. They are psychologically driven. You are right we may only get to $500, but if it happens, it will be extremely fast due to fear of missing out. |
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Latest bottom should be followed by triangle consolidation in a case of continuation.
How about a flag?  By my counts at least movements up (and down) have been of corrective structure ever since 152 bottom, which seems to support consolidation scenario here before resumption of bear trend. Probably not as there's a pretty well defined top resistance area that we've been bouncing off of with lower lows since the big crash. |
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Bears did three major attacks after the grand crash to $166 (bitfinex).
First tanks the price to $172, second tanks it to $197 and the recent one tanks it to $198.
Strength of the bear attacks are getting weaker and volume of bear attacks is shrinking. In addition, we see higher lows.
We may have to say bye bye to sub-$200 coins. Congrats to those sub-$200 purchases.
I'm seeing this too. Markets are always searching, or discovering, price levels high and low. It also acts as a tool for big money to test the market for supply during lull periods and pick up more cheap coins. |
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Cheers guys. Right on. The one thing that I can't figure out, as a hodler, is what to do during the euphoric buying phase. It seems like a good time to sell, on the one hand, and yet Bitcoin is still so far from its full potential on the other.
Successfully calling tops and bottoms is probably the most difficult thing to do in trading. The second most difficult thing to do is actually make a trade at these levels. During selling climaxes, people are panicking, committing suicide, calling for Bitcoin's head on a platter, and more FUD than you've ever seen is flooding the forums. Average Joe has no interest in buying at these levels because of all the negative news. At the other end, during buying climaxes, prices have gone parabolic and even the most stubborn bear has turned bull. Good news is everyone. Now, Average Joes are tripping over each other to buy. Bitcoin will go to $1 million each! Everyone is going to retire young!! Naysayers are shouted down. The mood is so euphoric that many people miss the crash, and are even in denial when it inevitably happens. The key is to look for market weakness in uptrends, and strength in downtrends. During an uptrend, watch the spread of the candlesticks on the chart. Watch the length of these candles in relation to volume. At some point, the spread of these candles will increase as the buying climax nears, then shorten near the top. Also, look for long wicks shooting up from the top of the candle. This indicates that significant selling has entered the market, and that the market may be weak. This type of candle denotes heavy distribution to willing buyers at higher prices while closing much lower. You will usually see a few of these near market tops on narrowing spread. These are signals to go short. It is the opposite for finding strength in downtrends: Look for candles with heavy stopping volume (wicks that protrude deeply from the bottom of the candle) and shortening of the candle spread on increased volume as the downtrend runs out of steam. This denotes heavy accumulation by traders, and is an indication of a strong market. This is a signal to go long. Pull up the 3d Bitstamp chart and look at the candlesticks during the November rally. There are a few candles that denote heavy distribution and thus a weak market. One is near the very top (it's red), and a big one is a few back, at the $750 level accompanying very high volume. See those wicks shooting upwards? These are big red flags that a selling climax is about to occur (or is occurring). There is also a candle with extremely narrow spread near the top, but the volume, while lower, is still significant. This indicates the market is nearing the top as significant buying couldn't push the price higher. Right before the bottom falls out there is a narrower spread candle on lower volume. This is like when Wile E. Coyote runs off a cliff. There is a few seconds before he realizes the bottom has disappeared. Watch out below! Now fast forward to October of this year for the opposite. See that candle with the super long wick down to $275? That was a selling climax. The volume was high but not high enough: The market rebounded but ultimately $300 did not hold. Now look at the most recent candle down to $153. Look familiar? Huge, huge stopping volume amid pure panic. It is an indication to go long. |
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Holy shit! Bottom confirmed.
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The only reason we're going under $200 again is because the FPRs haven't attracted a new bear whale yet. as soon as we see a giant ask wall low enough, it's gonna get eaten like fried chicken at Sunday potluck.
This is why I'm only 2.5% margin long right now. Have to keep my powder dry to hunt bear whales.
so who's the sucker gonna be?
I feel like your FPR is simply an explanation for trading ranges, originally outlined by Richard Wyckoff and used by VSA traders. This is how they play out: 1. Selling/buying climax 2. Secondary test(s) of highs/lows 3. Consolidation (up or down) 4. Sign of strength or weakness (a break upward/downward as a clue to the next move) 5. Shakeouts to test for supply/demand 6. Jump across the creek/break through the ice (a backup or spring, to gather strength to penetrate the top or bottom of the range) 7. Markup/markdown |
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Bears feeling the heat.
That's hot bovine blood soaking into our fur as we feast, bassclef  Is someone taking? Thought I heard something. Oh well. |
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My vote is for bear trap.
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Just hang around and go up in a week or so.
sure - needs 5 million USD in a week in fresh money just to hold this price. You think 5 million will be invested next 7 days? And mind you: that's just enough to prevent a further drop. This is not how markets work, Einstein. |
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A huge amount of coins changed hands from bearish traders to bullish traders during the big crash. Like, record volume. Furthermore, there is not a whole lot of selling happening on 'Finex, at least not enough to push the price down. It's a marked difference from their push to $172 earlier, most of which got handily absorbed. Seems the only bears left are the ones that didn't get the memo.
So no, I don't believe we will see sub $100 coins. It's a nice thought though.
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This thread won't need policing as the trolls will be too scared to step in it. OP's case is air tight.
Don't worry, I've made it self-moderated just in case. And I've got most of them on ignore anyway so their posts won't last long. |
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I feel like the timing of this post was significant... When supply finally runs out and smart money is satisfied we have what is called a markup. Admittedly it's more fun than a markdown.
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Reminds me of the crash from $1200 to $500 then to $350. Lots of fear (and plenty of trollin') to go around then.
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