Several analysts are looking for a weekly closing (conventionally placed on Sunday at 23:59) above 83k to confirm a recovery clearing the old resistance. That could open up a clear path to the next one, which IIRC is just below 90k. Not sure actually, it's not like I'm immersed in twatter crypto chatter.
Assuming the crowd of armchair pundits to be right, we've been consistently over 83k recently anyway. However, these Sunday moves are not too significant per se. Let's hope the UP goes on tomorrow, and with some meaningful volume.
Even though I tend to not be much of a fan of "sentiment" as a way to measure where bitcoin is at or to anticipate where bitcoin might go, there tends to be some value in considering the weekly close (and yeah, you are referring to 23:59 UTC).
Of course, closing weekly candles are not do or die or make or break, even though it can be interesting to watch both where they close but also how they close, since sometimes there can be a lot of price movement at or around the weekly candle in order to seemingly attempt to get such weekly candle to move in a "favorable" way.
Just like I have tinglies
(perhaps similar to "our" favorite cross-eyed fairy?) in paying attention to the 200-WMA - I also find weekly candles to be interesting ..including weekly candle trends.. so for example in April and also in July there were 4 weekly candles in a row.. yet they still did not end up resulting in any kind of a break out, and historically there have been challenges to achieve 6 or more green weekly candles, even though 6 or more green weekly candles does end up happening from time to time.
Right now, even if we go back to our mid-June low of $57,735, we 8 out of the 12 weekly candles as green, and the most in a row that we had as green was 4 weekly candles. Currently, if this weekly candle closes as green, we ONLY have two weekly candles in a row as green - even though surely, it seems as a bit of a given that this week's candle is going to end up green, since it would have to go below $81,152 for this week's candle to convert from green to red.
By the way, sometimes we might want to look at weekly candles and to see them going up gradually and continuing to be green rather than if there ends up being a lot of movement in one week that ends up not being sustainable.
At the same time, we can look lovey-dovey at the weekly candles, yet still retain little to no predictive power whether the upcoming week is going to end up green or red...even though maybe starting out the weekly candle positively will give more faith that the positive price might be sustainable through the week to cause the weekly candle's outcome to end up being green.
Sure, there are monthly candles too, but they don't seem as practical for ongoing and regular monitoring in an investment (rather than a trading sense).
In the end, I will admit that I don't seem to be being saying much of anything about my tentative
cccccccciiitttttteeeeee!!!! perspective in regards to weekly candle developments - except for admitting that I have a wee bit of affinity for those kinds of squiggly variants.
we got over 85k for a bit.
wen 91k?
We will see it very soon.You go to sleep and wake up and you will see.
What are the odds? Does not seem to be very high odds, except for some hanging on to wishful thinking.
Don't get me wrong, I am not putting $91k within a few hours to be out of the question, since even if we take our current price of $84,451-ish, $91k would be merely a 7.75% increase in the price, so bitcoin could do that in its sleep - yet asking for it and even hoping for it or even proclaiming such a thing to be impending seems a bit fantastical rather than based in any kind of meaningful grounding.
Maybe if a bet were made, then specifics could be sussed out in terms of who believes what and how strongly such supposed believers stand behind their proclamations about what bitcoin is going to do and when it is going to do it?
We just had our 6th bank failure this year. California's Nano Banc was shut down on Friday. High interest rates given as a reason. There were 2 bank failures in all of last year, so you can see the problem is accelerating. With rates still rising, you can expect more banks to fail in the coming months. While it is nice that the Bitcoin price has been rising, the global economic situation continues to get worse. We are in a 2008 situation here and the only thing that is keeping the economy together is inflation has muted housing declines so people still have emergency equity to pull from. This doesn't seem like a rally environment to me. Be careful out there.
Still talking your book rather than "acting" smart. There is a lot of power that comes from "action," and surely there tends to be no need to be correct in any real and specific way, as long as you (we) are tending to be directionally correct.
One of the great powers of bitcoin for so many of "us" is that we have been directionally correct and we continue to be directionally correct in our ongoing reluctance in trying to trade it.
One way to nearly guarantee that you will end up with less bitcoin than what you would have had or could have had, is to fuck around trying to trade it, since even if you should be correct and/or should have had been correct, attempt to play those kinds of hunches about should have, would have and/or could have tends to result in way fewer bitcoin than what you would have had.
Historically, directionally correct action has been a bitcoin superpower, and being directionally correct is likely going to continue to be a bitcoin superpower into the future, whether we are talking about 4-10 years or longer.
Edit: My AI trading experiment is in full swing. I'm still writing some rules and ironing out details, but it has so far made 3 trades.
In an earlier post, you showed enough
(likely temporary) insight to admit that trading with bots is likely to end up completely draining whatever value you allocate to it, yet now you want to brag about AI trading as if you were some kind of a innovative genius. Perhaps you are your own worst enemy. Perhaps? Perhaps? What do I know?
It sold Solana twice for USDC and then purchased some Bitcoin.
Trading shitcoins to increase bitcoin holdings that seems like a powerful way to "increase your bitcoin" so long as the shitcoins are free and you don't sell your bitcoin, yet "we" know that you have insufficient insight in realizing that selling bitcoin and/or failing/refusing to continue buying bitcoin when you don't have enough bitcoin remains a continued and ongoing mistake of those folks (including uie pooie) who don't seem to be able to differentiate trading/gambling from investing.
I'll give it a little more money to play with in a couple of days and see how it does but so far it seems to be a Bitcoiner.
You would not know
"a bitcoiner" if one happened to slap you in the face. Does your bot have potentially useful built-in slappening capabilities?
To the extent that you are even salvageable
(which is a BIG hypothetical), you seem to
(severely) need some kind of a slappening
**, whether from a bitcoiner, a bot or otherwise...
#justsaying**in the "slap you back to reality" kind of a context - perhaps something like the below famous scene?
Poll
