Triangle breakout

[exstasie]

I opened a 10x leveraged long at around $8070 and I plan on keeping it open until the mid $9ks when I plan on closing the position fully. Took a bit of profit near $8800 yesterday, I feel like I could've done better but it's still a signfiicant gain in the end. Feels like this will go sideways for a bit and break up or just break up in the new hours or days. We had a little pump after Bitmex funding happened today (0.3%, 0.375% is the maximum funding rate in an 8 hour period for XBTUSD) and we've fallen to right where we were before that funding pump, though it seems this is actively getting bought up. Looks good for the bulls so far.

Nicely done. I managed to get some longs in around $8,100-$8,200. The FOMO was really fast. I kept missing with my limit orders and had to cancel and market buy a couple times. I already closed about 30% of it into this morning's spike, in case of a failure. The rest I'm hoping to ride until the $10K area. Otherwise I'll let it get stopped out.

This feels like the late stages of a rally. Shorts aren't quite done squeezing yet but this is getting dangerous to hold longs for too long. We might plow through $10K but wherever it finally tops, there's a deep painful crash coming afterwards. I think patient bulls may have a chance to rebuy in the $6,000s again.

[target]

Those who still got their coins and hold the tokens they have since the time of bear market, will have more patience to hold and if this bulls will continue till the year end it will be logical if they still will hold. Price of BTC could beat the 20KUSD, we are still in the Q2 of the year. More breakouts will happen soon. When do you think the bears will take over after this?

[Altero]

Those who still got their coins and hold the tokens they have since the time of bear market, will have more patience to hold and if this bulls will continue till the year end it will be logical if they still will hold. Price of BTC could beat the 20KUSD, we are still in the Q2 of the year. More breakouts will happen soon. When do you think the bears will take over after this?

It probably another big year in crypto, this will the reward for our outstanding  support into the market even we struggle hard for a very long dip. We did it and it's time to see another bull run that will satisfy us individually but I'm not too optimistic that be thinking of more than $20k this year. We only just hope that it will be no longer to drop hard just like it happen last year.

[pooya87]

Those who still got their coins and hold the tokens they have since the time of bear market, will have more patience to hold and if this bulls will continue till the year end it will be logical if they still will hold.

this is the "bitcoin" bull run and only "bitcoin" price is rising not tokens! in fact most of these tokens that people are bag holding are not going to even exist in a year from now let alone give any profit to their bag holders.

[STT]

This feels like the late stages of a rally. Shorts aren't quite done squeezing yet but this is getting dangerous to hold longs for too long.

People have felt similarly to that all along since Feb at least.     Bitcoin is far harder to judge then many things I think, I'm wary of this leveraged usage and wonder if they makes it weaker on any test.   So far its just kept bubbling up, it went through the 6k area far too easily seems like considering how strongly that held as support for alot of 2018

Cutting everything like a hot knife through butter seems like, hard to gauge whats driving it especially and it may not be one thing.   The largest thing for me is dollar must stay weaker, its effectively negative interest rate

[Kevin77]

The sad part is we are not too late but we are not too early neither. I have luckily kept all my bitcoins but I have failed to purchase more earlier as well so I could have had a lot more bitcoins too.

It is still looking early and we may top out at 20+ thousand dollars because I know that psychologically we have seen 20 thousand dollars before and anything until that point is "we have been here before" and that is why it is easier and quite possible but anything above 20 thousand dollars is unseen in bitcoin world so its going to be the first time we reach those levels and will be harder.

I don't know when it will happen or how it will happen but until 20 thousand dollars it will be easier than above 20 thousand dollars I am sure about that part of it.

[exstasie]

This feels like the late stages of a rally. Shorts aren't quite done squeezing yet but this is getting dangerous to hold longs for too long.

People have felt similarly to that all along since Feb at least.

Back in February we were only trading 15-30% above the ultimate lows. We've risen nearly 190% from the bottom now. Big difference! The sentiment between then and now is also tangibly different.

Peter Brandt calls this the "FOMO phase" of the rally. We'll eventually reach a point where most sellers/shorters will have capitulated + bought back. That's when a big correction will come. I believe we're in a bull market but every bull market has deep corrections.

[LUCKMCFLY]

There is also some variance in the volume, I think the price is rising without much volume, this means that it can continue to rise without much effort, which makes a correction a bit difficult ..... as tensorcharts has come a lot of volume shopping, it's as if they buy without importing the price.

[buwaytress]

The sad part is we are not too late but we are not too early neither. I have luckily kept all my bitcoins but I have failed to purchase more earlier as well so I could have had a lot more bitcoins too.

It is still looking early and we may top out at 20+ thousand dollars because I know that psychologically we have seen 20 thousand dollars before and anything until that point is "we have been here before" and that is why it is easier and quite possible but anything above 20 thousand dollars is unseen in bitcoin world so its going to be the first time we reach those levels and will be harder.

I don't know when it will happen or how it will happen but until 20 thousand dollars it will be easier than above 20 thousand dollars I am sure about that part of it.

I first properly got into Bitcoin in 2016, after hearing about it and even asked to check it out by a friend in 2013. The backstory to that was a really bad experience with digital currency more than a decade earlier, where I lost a business and ended up in debt, long story short, it was bad timing regulatory wise for digital currency.

I do regret that the bad experience made me dismiss Bitcoin as just another one doomed to fail when Uncle Sam wakes up, regret that it didn't occur to me it was something completely different until I finally sat down to read about it and get a wallet back in early 2016. Even that was timing, because I was in bed after a long illness in Dec 2015 and with nothing to do but read online.

Imagine that by the time 2017 arrived I had barely scraped enough Bitcoin, still had no idea the bullrun was about to begin, but every few weeks after for the next year, every satoshi I managed to get was worth that much more.

Even since last winter and when we ploughed 3k I wished I had the chance to get more and here we are at 8.5k.

Remember, it doesn't matter in the end game.

[STT]

We'll eventually reach a point where most sellers/shorters will have capitulated + bought back.

Its possible to track % shorts or at least contrast the order book from now to then.    So we should be aware at some level when people are being too relaxed on the potential for downside movement.
When I look at a longer term chart on weekly bars I do see this price roughly as being a major turning point, an area where bars closed out.   8500 was the top of prices about a year ago july 2018 and also top of the initial pin roughly in the Feb sell and recovery back up so I see some significance to this area.     I also thought that about 6500 though and it wasnt enough to stop and think about for long

[exstasie]

Bit of a nail biter when I woke up this morning! Bulls breaking above $9,000 one minute, and then the next minute, that Bitstamp whale is back dumping hundreds of coins into a thin book.

Someone (probably a major short holder on Bitmex) was obviously trying to paint a breakout failure on the chart. Not the wealthiest whale around because they only sell on Bitstamp (which has the worst liquidity) instead of coordinating dumps.

What an asshole. I hate when people try to paint the chart. I hope bulls absorb the dump and margin call this jerk.