A move (almost) no one is expecting: gap at $11795

[STT]

Selling would be the unusual part, everything appears positive now.   The crowd of popular opinion is generally quite predictable in being cheerleaders and then also too gloomy on the lows when price is better 'value'.    Was this supposed to be a ceiling, Im not sure its stopped or just hesitant as BTC often is.   Its not even pulling back properly, the range here is much reduced over previously.



Lows shown here are weekly average but just today the lows have been 2 day average.

[pooya87]

So how many sold because of this prediction? I at least guess op?

those who buy/sell bitcoin because of some random topic on bitcointalk aren't going to be left with any bitcoin/money in a couple of weeks. and at this point the market has already shaken out majority of these weak hand newbies already.

[SquallLeonhart]

So how many sold because of this prediction? I at least guess op?

those who buy/sell bitcoin because of some random topic on bitcointalk aren't going to be left with any bitcoin/money in a couple of weeks. and at this point the market has already shaken out majority of these weak hand newbies already.

The thing is that people do not buy and sell because there is a bitcointalk topic about a subject, people buy and sell and that is why there is a bitcointalk topic about that subject. You do not understand why people open topics, when people talk about "this will happen" that is usually for the future, but when there is a gap, that gap is basically what happened because that gap was there, the gap didn't happen because there was a topic about it here.

However since there is a topic about it here, it could attract more attention towards itself. Those are very different reasons. Hopefully the gap is now gone and the resistance is higher right now, so I would assume the price could not go up easily anymore, sure it won't go down as easy neither so I think everything is balanced now.

[davinchi]

I think the best case we could have for this is to recheck what happened afterwards, which shows that bitcoin moved beyond $11.8k once again, so I assume it can't be that much of a big gap, the price didn't fall that far down, didn't went up that much, it is still around the same levels without too much of a trouble.

So, that tells me that it should not really matter all that much if the price went down or not, it would definitely change eventually but that doesn't mean that it will because of some gap, gaps always happen in bitcoin and they are always there but since we are talking about 5-10% changes daily sometimes (the high volatile days) those gaps suddenly become very worthless and useless. That is why I do not care about the current prices, I usually care what it could be in the future if the price suddenly changes a lot.

[ultrloa]

So how many sold because of this prediction? I at least guess op?

those who buy/sell bitcoin because of some random topic on bitcointalk aren't going to be left with any bitcoin/money in a couple of weeks. and at this point the market has already shaken out majority of these weak hand newbies already.

Actually we can't blame newbies to shake up wince sometimes those fuds from random topic is convincing and if they afraid to lose more or cannot get a profit if they didn't dump at the moment the fud scattered. And for this things we need really a good educational topic about how trading actually works and how to define fud to reality, although its hard to find out but still there are indicators and certain articles that can help us for this things for our daily trades.

[philipma1957]

It will soon be gone and we will be talking about 12850 as the new resistance.

[aioc]

So how many sold because of this prediction? I at least guess op?

those who buy/sell bitcoin because of some random topic on bitcointalk aren't going to be left with any bitcoin/money in a couple of weeks. and at this point the market has already shaken out majority of these weak hand newbies already.

They will learned the hard way that these random topics should not always consider and let your own decision should be your guide, take a lok back what happen in March when news of pandemic broke out people are in a hurry to sell their stakes only buy them back at a much higher price, we should not like a domino who follows every movement.

[7788bitcoin]

and at this point the market has already shaken out majority of these weak hand newbies already.

The shake continues as the market is having a small correction today. This is a cycle which is going on and the weak hands is a term created to put a blame on someone  .

It will soon be gone and we will be talking about 12850 as the new resistance.

The price of bitcoin touched around $12400 and the correction started, i was surprised to see that the price was trying to break the resistance when it crossed $12000 but it could not last longer, waiting for the market response in the next two days and i hope that the market will not go for a major correction.