Globb0 BTC charts

[Wind_FURY]

I believe convert our charts from daily to weekly, and zooming it out would give everyone a clearer picture that Bitcoin has always been on a price discovery going up.

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[Globb0]

Bit of a ceiling developing over last few days.

Push on or pull back?

I believe convert our charts from daily to weekly, and zooming it out would give everyone a clearer picture that Bitcoin has always been on a price discovery going up.

As you wish senior.....

Weekly candles and zoom out. Engage

[Tytanowy Janusz]

Push on or pull back?

Too soon to push. I think we will stay under 12 000 couple more days.




Looks interresting. I think that it will fake down, test 11 200 and then moon 13 000+.

[Wind_FURY]

Push on or pull back?

Too soon to push.

What's the probability of that prediction? Bitcoin was also thought to have a low probability of surging over $10,000 only 2 weeks ago, with many short-sellers, but here we are.

I think we will stay under 12 000 couple more days.

There's a small time-difference with "too soon to push"?

[Globb0]

Lets take a look at  the weather for today. It is hot hot hot. Summer madness out there.

The daily chart, the ceiling we have discussed, there is also the fact things look slightly (slightly) less crazy. Eg RSI

[JayJuanGee]

Lets take a look at  the weather for today. It is hot hot hot. Summer madness out there.

The daily chart, the ceiling we have discussed, there is also the fact things look slightly (slightly) less crazy. Eg RSI

Are you preparing to make any bets in connection with your analysis yet, Globb0, or are you still a wee bit too chicken? 



 

[Globb0]

A while back I got a bitcoin as a security token.

You are right I am the pig still feeling exposed to lose my bacon.




Let me explain this story, I use for my agile training sessions.



There is a chicken and a pig. They are going to open up a café together.

The discussion is around the name of the establishment.


The chicken wants to call it "Bacon and Eggs" the pig says "I'm not sure I feel so comfortable with this?"



I have seen I have made good calls here, that was the point a record not cognitive bias. Still I remain a scared rabbit in the headlights


Black hole sun wont you come, wont you come!

[JayJuanGee]

A while back I got a bitcoin as a security token.

You are right I am the pig still feeling exposed to lose my bacon.




Let me explain this story, I use for my agile training sessions.



There is a chicken and a pig. They are going to open up a café together.

The discussion is around the name of the establishment.


The chicken wants to call it "Bacon and Eggs" the pig says "I'm not sure I feel so comfortable with this?"



I have seen I have made good calls here, that was the point a record not cognitive bias. Still I remain a scared rabbit in the headlights


Black hole sun wont you come, wont you come!

No problem.  Just want to harass you on a regular basis.  Of course, you do not have to start to trade, especially if you are not comfortable, but I will still likely regularly make my assertion that there is something a bit more solid about actively participating.. and sure, it is possible that your mere HODLing of bitcoin is sufficient enough "active participation."..

By the way, I personally believe that my ongoing BTC buy and sell orders do sometimes inform me on a more concrete basis about where the BTC price has been and where it might be going.  So if I look back and I see that no buy orders or sell orders have been executed in the past month, then I realize we have been stuck in a range for a damned long time, but if I see that BTC orders have been filling mostly in one direction rather than the other, then that might tell me something too.

Sometimes, we will see a small amount of BTC price movement, or it might even seem large because the BTC price had not moved a long time, but then I look at my outstanding BTC orders, and if none of them have filled, I will proclaim:  "so fucking what!!!!!!" about the BTC price move because it was not enough to fill any of my outstanding orders, so why should I be getting excited about about some seemingly BIG price move that really was not big enough to fill any of my outstanding orders?

[Globb0]

Its not following the right lines! Harumph!

The negative vibe felt above came true.

RSI dips further, short term gloomy?

[Globb0]

Well we are once again prodding at the the 12k ceiling

[Globb0]

We have now pushed the resistance up a little bit. That's good.

Is there a channel here? Always until it breaks I suppose

[Tytanowy Janusz]

We have now pushed the resistance up a little bit.

I am concerned that we didn't see further growth after breaking 12,000 resistance. It was so bullish. I think Bart formation (quick dump) even to 10 000 zones is possible now. I hope that my spider sense is wrong now because it detected giant bearish whale. Hope he will be eaten by Megalodon.

[exstasie]

I am concerned that we didn't see further growth after breaking 12,000 resistance. It was so bullish. I think Bart formation (quick dump) even to 10 000 zones is possible now.

It was a frustrating breakout indeed since the daily candle closed above resistance and the upper BB, but we saw a pronounced failure the next day. Ideal conditions for trapping bulls. It's pretty much the exact same thing that happened on June 2nd, which triggered a 1.5 month pullback.



Stopped out my long and totally screwed up my preferred EW count!

I reopened a long ~ $11.7K to trade the bounce but I don't intend to hold it for long. There's a good chance this bounce off the daily BB basis (20-SMA) is just a local bull trap, similar to the June 2nd-10th consolidation.

[Globb0]

I see what you guys are saying.

More resistance. People selling because they said they will if it gets back over 12?

[Tytanowy Janusz]

People selling because they said they will if it gets back over 12?

I see it more like a whale trapping bull - like exstasie said.
Chart shows now strength now.



1- Bull trap after breaking 12k - dump instead of continuation
2- We just break trend line, test it from the bottom and slowly sinking.

In short term it does not look good. I don't expect another 12,4k test anytime soon (1 month of going sideways is optimistic scenario. Pessimistic is testing 9 500-10 000)

[Globb0]

I do feel a bit of the gloom and we broke my trend channel line downward.

But also zooming out a bit. We look in better shape. I wont bury my head in the sand but.

Also notice the pairs I ringed looks similar?

[Globb0]

I still think these 2 patterns look familiar. Look now is a similar follow on candle.

[-CryptoViking-]

I still think these 2 patterns look familiar. Look now is a similar follow on candle.

I think we will go sideways for a week, maybe a bit less and then continue to slowly grow back towards 12k-13k. most likely many people would like this scenario, lots of money to be made on alts, Defi and Uniswap hype.

[Tytanowy Janusz]

I still think these 2 patterns look familiar. Look now is a similar follow on candle.

Agree but bulls are noticeably weaker. Thus whole correction will be deeper. Based on my experience formation will look more like that:



With bottom at 10k and breakout in about 2 weeks from now.

[Globb0]

Im sticking with this line of thinking at the moment