Morecoin analysis [bitcoin/USD market observations]

[Morecoin Freeman]

Enjoy.

Ten days have passed and the bottom did hold:



Congratulations to everyone who managed to buy.

If we see 220's again this weekend I will try to buy more.
By next week we should aim for 260 with another push. Happy trading!

[Amph]

i think those who managed to help the bottom stay at 215, were the whales/average traders who dumped at 290 2-3 weeks ago

they did bought in mass supposedly... 200 level should be considered rock solid by now

[minerpumpkin]

i think those who managed to help the bottom stay at 215, were the whales/average traders who dumped at 290 2-3 weeks ago

they did bought in mass supposedly... 200 level should be considered rock solid by now

I wouldn't count on that, actually. We could be in a bad downtrend, still. But this can't go on forever and at some point there will be a trend-reversal, and most of the bears do know that. It's just a matter of who gets burned in the end.

[AtheistAKASaneBrain]

i think those who managed to help the bottom stay at 215, were the whales/average traders who dumped at 290 2-3 weeks ago

they did bought in mass supposedly... 200 level should be considered rock solid by now

It's possible, but maybe that's exactly what they want you to think: "Oh this floor of 200 is now solid as diamond" then they pull their fake orders and you fall for the trap.

[rememberme]

dump/pump?

[thejaytiesto]

Enjoy.

Ten days have passed and the bottom did hold:



Congratulations to everyone who managed to buy.

If we see 220's again this weekend I will try to buy more.
By next week we should aim for 260 with another push. Happy trading!

That buy rally is too big to be made by a single whale in terms of volume. I think there was an example of how scared people is to miss the boat in a rally scenario and how quick things can skyrocket.

[damiano]

i think those who managed to help the bottom stay at 215, were the whales/average traders who dumped at 290 2-3 weeks ago

they did bought in mass supposedly... 200 level should be considered rock solid by now

I wouldn't count on that, actually. We could be in a bad downtrend, still. But this can't go on forever and at some point there will be a trend-reversal, and most of the bears do know that. It's just a matter of who gets burned in the end.

I agree.

200 could easily be breached and this cant go on forever, but bears have the advantage right now. When bitlicense comes out, its probably going to result into another coinbase/pump/trap fiasco

[Sonny91BE]

Funny,

Considering the chart part you took, you act upon a reversal candle which is merely 1 indication to go long here. While the overall trend isstil lvery bearish, you clearly have very low confluence to go long from that point on the long term. You need a very solid price action confirmation combined with key line and candle atleast to say in order for you to have a roughly 'standing edge'.

Enjoy

[tokeweed]

Agreed! This could be the bottom and startingpoint of a megarally.

This.

[BitmoreCoin]

Agreed! This could be the bottom and startingpoint of a megarally.

This.

We shall know in a few months.

[tokeweed]

Agreed! This could be the bottom and startingpoint of a megarally.

This.

We shall know in a few months.

Nope.  I am pretty sure of this.  Bitcoin can go to +1000 quick.  We have seen this.  Buy now.

[pattu1]

Agreed! This could be the bottom and startingpoint of a megarally.

This.

We shall know in a few months.

Nope.  I am pretty sure of this.  Bitcoin can go to +1000 quick.  We have seen this.  Buy now.

It is still cheaper now than it was 2 days back. 

[minerpumpkin]

Market seems to be increasingly hesitant to go below $226/$228. It's still too early to pop the champagne, of course, but it's good to see that bears have an increasingly hard time at a point where a drop-off into the $150s would be expected. I would have thought that the market collapsed when someone dumped at this time.

[ensurance982]

Let's see how this night plays out. Huobi doesn't really want to follow the dumps on Finex, that's for sure. I think all the dumps today could have brought us to even lower levels if they happened on a different day. The market didn't really seem to care for the dumps. Bullish? I don't know... It's so hard to be bullish these days.

[tokeweed]

Let's see how this night plays out. Huobi doesn't really want to follow the dumps on Finex, that's for sure. I think all the dumps today could have brought us to even lower levels if they happened on a different day. The market didn't really seem to care for the dumps. Bullish? I don't know... It's so hard to be bullish these days.

You are correct that's bullish.

[farting_shot]

The whales are dumping to cover the shorts. That's how they make money. The market is totally rigged. Only whales can make any money playing the game. If you are not a whale, you are screwed.

[umairsaleem]

Maybe ￥200(or lower) will become a new normal soon.

[tokeweed]

Maybe ￥200(or lower) will become a new normal soon.

I am beginnng to think this.  Sub $100 might be where we're going and stay there for a while.

[umairsaleem]

Maybe ￥200(or lower) will become a new normal soon.

I am beginnng to think this.  Sub $100 might be where we're going and stay there for a while.

Probably, I think think Bitcoin have made much progress in the last two years. It's still unknown to public.

[bajing]

Maybe ￥200(or lower) will become a new normal soon.

I am beginnng to think this.  Sub $100 might be where we're going and stay there for a while.

its mean u want bitcoin under $100 in this week or month?