Analysis

[birr]

telegram and tradingview
https://t.me/bitcoin_wanga/48
https://www.tradingview.com/u/PentarhUdi/

[keystroke]

Пoxoжe-тaки дaльшe нe пoйдeм пoкa... $8000 нe дepжитcя.

[exstasie]

Пoxoжe-тaки дaльшe нe пoйдeм пoкa... $8000 нe дepжитcя.

Can anyone translate? Two Google translates later, I still can't figure out what he means:

Do not worry, let's not go along... $8000 is not worth living.

Pokozhe-taki would never let us go by... $8000 is not acting.

This is a tough spot we're in. Technically, bulls failed and retreated into the previous range = bearish. I thought maybe his wave down to $6K was happening. On the other hand, I'm cautious to get too bearish, lest we end up doing a move like late April where the dump turned into sideways and we resumed the uptrend.

[drays]

Пoxoжe-тaки дaльшe нe пoйдeм пoкa... $8000 нe дepжитcя.

Can anyone translate?

Sure

It could be translated like this:

It looks like we won't go up, just yet... [as] $8000 level doesn't hold.

I believe he thinks the upward movement is over for now, and so we won't reach $10K (his previous prediction level) without having some correction first.

[Wind_FURY]

Пoxoжe-тaки дaльшe нe пoйдeм пoкa... $8000 нe дepжитcя.

Can anyone translate?

Sure

It could be translated like this:

It looks like we won't go up, just yet... [as] $8000 level doesn't hold.

I believe he thinks the upward movement is over for now, and so we won't reach $10K (his previous prediction level) without having some correction first.

Why did you give him the incomplete translation?

extasie, the master also said to buy the dip if the $8,000 level doesn't hold. Hahaha.

[whyrqa-1]

If we take into account all these statements, which analysts talked about, then we have long overcome the price level for Bitcoin at $ 7,000, and the amount at $ 200, after which the cryptocurrency market should change only in a positive direction.  I need to speak negatively, And let's wait for the results of the tour, which was discussed at the beginning of 2019.

[drays]

Пoxoжe-тaки дaльшe нe пoйдeм пoкa... $8000 нe дepжитcя.

Can anyone translate?

Sure

It could be translated like this:

It looks like we won't go up, just yet... [as] $8000 level doesn't hold.

I believe he thinks the upward movement is over for now, and so we won't reach $10K (his previous prediction level) without having some correction first.

Why did you give him the incomplete translation?

extasie, the master also said to buy the dip if the $8,000 level doesn't hold. Hahaha.

Ehm... I suppose you are joking..

[Andergriff]

https://imgur.com/esPFTZZ

кxe кxe

khe khe *groans*

[Andergriff]

new post:

пpaвoe плeчo yжe cлишкoм выcoкoe, фигypa лoмaeтcя

my translate:

the right shoulder is too high, the figure breaks

[exstasie]

new post:

пpaвoe плeчo yжe cлишкoм выcoкoe, фигypa лoмaeтcя

my translate:

the right shoulder is too high, the figure breaks

Thanks for sharing. That's my conclusion too. Bitcoin invalidated the H&S top. It also broke upward from a bearish wedge yesterday. Sorry bears, Bitcoin doesn't care about your chart patterns right now!

[Wind_FURY]

I saw this on Twitter. Blue line is volume in USD, green line is volume in USDT. Is Tether/Bitfinex leading the rally again? Or do large USDT hodlers know something bad is about to happen to Tether?

Bitfinex's wallet continues to be drained, https://bitinfocharts.com/bitcoin/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r



l

[drays]

I saw this on Twitter. Blue line is volume in USD, green line is volume in USDT. Is Tether/Bitfinex leading the rally again? Or do large USDT hodlers know something bad is about to happen to Tether?

Bitfinex's wallet continues to be drained, https://bitinfocharts.com/bitcoin/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r



l

Hmm.. Why you tell "again" then? According to those graphs (IF we trust them - and thats a big IF), the last rally was almost completely driven by USD, with USDT volume being dismal in comparision.

[figmentofmyass]

I saw this on Twitter. Blue line is volume in USD, green line is volume in USDT. Is Tether/Bitfinex leading the rally again? Or do large USDT hodlers know something bad is about to happen to Tether?

Bitfinex's wallet continues to be drained, https://bitinfocharts.com/bitcoin/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r

and yet outstanding shorts keep rising and rising. it's a beautiful thing---after every little dip, bears just keep piling them on!

so supply on the exchange is lessening; the ask side is getting thinner. meanwhile the rising shorts are building up huge buy pressure (because the shorts eventually need to be closed). looks like bitfinex is gonna drive spot prices upwards yet again.

[Wind_FURY]

I saw this on Twitter. Blue line is volume in USD, green line is volume in USDT. Is Tether/Bitfinex leading the rally again? Or do large USDT hodlers know something bad is about to happen to Tether?

Bitfinex's wallet continues to be drained, https://bitinfocharts.com/bitcoin/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r



l

Hmm.. Why you tell "again" then? According to those graphs (IF we trust them - and thats a big IF), the last rally was almost completely driven by USD, with USDT volume being dismal in comparision.

Sorry, I should have made myself clear. I was referring to the first rally of the year that was starting on early February - April. Then the "again", when Bitcoin rallied above $9,000 - $10,000.

I thought USDT/Tether/Bitfinex, as the catalyst for the late-rally, was no more. That data shows that it might be responsible for whole bull market until now.

[drays]

Sorry, I should have made myself clear. I was referring to the first rally of the year that was starting on early February - April. Then the "again", when Bitcoin rallied above $9,000 - $10,000.

I thought USDT/Tether/Bitfinex, as the catalyst for the late-rally, was no more. That data shows that it might be responsible for whole bull market until now.

Thanks for clarification! Who knows.. only Bitfinex/Tether owners could know for sure; the rest are just assumptions in the best case. You can trust your assumptions only if you feel they are really your own, not influenced by outside taking "prophets". Most influential folks on Twitter and elsewhere just spread disinformation (causing FUD/FOMO) to fulfill their own goals, or are doing paid job for those who want to spread disinformation (causing FUD/FOMO). One of the best lessons learned on the internet - never trust info on the internet, unless it comes from a person you personally have reasons to trust - and such persons could be very few, and they cannot be too popular, as "popular" nowadays automatically means "involved in manipulation".
Ok, those are just my random thoughts

And.. I believe, the first rally of the year technically was not a rally by itself - it was just a inevitable wave of a whole EW wave structure - there just should have been one, and it would have happened with or without Bitfinex influence.

[Wind_FURY]

Sorry, I should have made myself clear. I was referring to the first rally of the year that was starting on early February - April. Then the "again", when Bitcoin rallied above $9,000 - $10,000.

I thought USDT/Tether/Bitfinex, as the catalyst for the late-rally, was no more. That data shows that it might be responsible for whole bull market until now.

Thanks for clarification! Who knows.. only Bitfinex/Tether owners could know for sure; the rest are just assumptions in the best case. You can trust your assumptions only if you feel they are really your own, not influenced by outside taking "prophets". Most influential folks on Twitter and elsewhere just spread disinformation (causing FUD/FOMO) to fulfill their own goals, or are doing paid job for those who want to spread disinformation (causing FUD/FOMO). One of the best lessons learned on the internet - never trust info on the internet, unless it comes from a person you personally have reasons to trust - and such persons could be very few, and they cannot be too popular, as "popular" nowadays automatically means "involved in manipulation".
Ok, those are just my random thoughts

And.. I believe, the first rally of the year technically was not a rally by itself - it was just a inevitable wave of a whole EW wave structure - there just should have been one, and it would have happened with or without Bitfinex influence.

I don't believe I could agree with that, but I know we could agree that in that first rally of the year, panicking USDT holders in Bitfinex were the catalyst.

[exstasie]

I don't believe I could agree with that, but I know we could agree that in that first rally of the year, panicking USDT holders in Bitfinex were the catalyst.

I agree with drays. Maybe a catalyst, but not the cause. It would have happened either way.

This price action indicates much larger demand than just an exodus from Tether/Bitfinex. The premium between Bitfinex and the rest of the market closed quite quickly. Much of the time, Bitfinex price has actually remained below exchanges like Bitstamp and Coinbase, suggesting there is real FOMO at play and not just Tether/Bitfinex panic.

[Wind_FURY]

I don't believe I could agree with that, but I know we could agree that in that first rally of the year, panicking USDT holders in Bitfinex were the catalyst.

I agree with drays. Maybe a catalyst, but not the cause. It would have happened either way.

But would it have happened either way, without a cause? I believe that was what drays was saying because of the theory of Elliot Waves.

This price action indicates much larger demand than just an exodus from Tether/Bitfinex. The premium between Bitfinex and the rest of the market closed quite quickly. Much of the time, Bitfinex price has actually remained below exchanges like Bitstamp and Coinbase, suggesting there is real FOMO at play and not just Tether/Bitfinex panic.

Someone also said that "Tether QE program is monetizing altcoins", which I don't understand. Tether is selling altcoins for USDT to buy Bitcoin?

[exstasie]

I agree with drays. Maybe a catalyst, but not the cause. It would have happened either way.

But would it have happened either way, without a cause? I believe that was what drays was saying because of the theory of Elliot Waves.

The cause was excess demand and diminished supply. Period.

The question is whether it would have happened without a catalyst like Bitfinex insolvency panic driving fiat/USDT holders into BTC. I am asserting that yes, it would have happened either way. It may have taken longer, but eventually the excess demand we're seeing would have absorbed all supply at lower levels and began the uptrend anyway.

We see huge price moves without fundamental catalysts all the time. That's why most traders prefer TA to FA. With TA, supply and demand is reflected in the charts whether or not you pay attention to the news.

Someone also said that "Tether QE program is monetizing altcoins", which I don't understand. Tether is selling altcoins for USDT to buy Bitcoin?

I'm not sure what that means without more context. Maybe they mean Tether is propping up the altcoin market via Tether printing or something.

[Wind_FURY]

Someone also said that "Tether QE program is monetizing altcoins", which I don't understand. Tether is selling altcoins for USDT to buy Bitcoin?

I'm not sure what that means without more context. Maybe they mean Tether is propping up the altcoin market via Tether printing or something.

I found the tweet here. I hope that gives you more context, https://twitter.com/silver_watchdog/status/1142789426168377345

I believe QE means "Quantitative Easing"? But how can we find out if Tether has been printing more USDT?