TA shows potential bullish breakout - if history repeats

[WePiggy]

Following the ups and downs from before shows a similar pattern where the next stage is a nice pump and a huge green candle.

If it does indeed repeat then buying now would be a rather profitable move

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[NeuroticFish]

The markets had a bad days due to fear of COVID (Dow falls 652 points on Fed chief Powell's tapering comments and Omicron variant concerns)
I don't know what will happen next:
1. it may be that people will sell bitcoin too and keep the money for whatever comes
2. it may be that people will invest into Bitcoin the money they've got from stocks, since the economy is expected to have problems, but they still want to earn


Of course, 1 means bearish market, and 2 bullish. Sometimes bitcoin acts like it would be coupled with stocks, sometimes it does the opposite, or neither. (I said acts like, since they are not coupled).

[BitMaxz]

That's a pretty good analysis but the problem is Bitcoin price is unpredictable it could be a trap or you might be right.
For now, it's always better to set stop-limit loss and watch for the price movement.

And always monitor news because there is some news that has a big impact on the Bitcoin price like the news about COVID above.
There are tools that you can use to monitor all news here https://cryptopanic.com/

And monitor inflow/outflow on cryptoquant.com for a better analysis. Remember there are many whales that can manipulate the price a bit that could potentially push the price up or down.

[TimeTeller]

That's a pretty good analysis but the problem is Bitcoin price is unpredictable it could be a trap or you might be right.
For now, it's always better to set stop-limit loss and watch for the price movement.

And always monitor news because there is some news that has a big impact on the Bitcoin price like the news about COVID above.
There are tools that you can use to monitor all news here https://cryptopanic.com/

And monitor inflow/outflow on cryptoquant.com for a better analysis.

The new Omicron variant is said to influence the financial market again.
But this is yet to be seen also in crypto market. It may even have positive effect on btc as people are looking for alternative investment options during crisis.
But we really can't tell much up until the situation is over. For now, keeping up with the updates and eyes open with the progress in the market.

[crwth]

The stock to flow model suggests that by the end of this year we should be around $100,000 in value. And I think with the technical analysis that you have there it's possible to reach that amount. I think It matters what the following months that we are going to have this year which is now December would push us to the next rally. Maybe a lot of people would get into it.

[Fundamentals Of]

If it does indeed repeat then buying now would be a rather profitable move

History will always repeat itself, if not now or tomorrow, it will be sooner or later. So I suggest that buying now will always be a profitable move. That buying alone is already profit in the making. The only thing that one should remind oneself after that is to make sure it is not sold before profit has materialized.

The breakout pattern specifically seen in the chart may or may not happen at all. But it does not mean a breakout will not arrive. It surely will. It is just a matter of when.

[Dave1]

Yeah, that is if history repeats itself. The thing with crypto is that the data we have is still very small to really points a similar pattern.

But who knows, maybe if we will have to settle down after the scare of a new variant spreading across the globe, maybe crypto market and the rest will take a breather and recover this month of December.

[cabron]

Yeah, that is if history repeats itself. The thing with crypto is that the data we have is still very small to really points a similar pattern.

But who knows, maybe if we will have to settle down after the scare of a new variant spreading across the globe, maybe crypto market and the rest will take a breather and recover this month of December.

History has always repeated itself. That's how we got the price of BTC today as it keeps repeating. But maybe because we are just too early in this space, we are still in the process of inviting people to join the blockchain revolution and own BTC. OP's chart however is in 1HR chart which I think is not the way to look at patterns of history repeating itself. It should have been in the daily or weekly chart to actually see it clearer. You don't see the pattern with just the VOLUME indicator.

If the pattern repeats what happened in Sept 2020, the price could actually go up to more than $300K after a few months.

[suchmoon]

I read the title as "bullshit breakout" and thought - finally, someone being honest about TA and how it relates to Bitcoin. But no, it turns out this is again some zoomorphic surmise of random events.

Bitcoin will probably go up or down or sideways, as it always does. Join the HODL cult and stop worrying.

And just so you don't think I'm making this up, I added a couple of patterns that the OP missed:

[btc_angela]

The stock to flow model suggests that by the end of this year we should be around $100,000 in value. And I think with the technical analysis that you have there it's possible to reach that amount. I think It matters what the following months that we are going to have this year which is now December would push us to the next rally. Maybe a lot of people would get into it.

Do you think we can grow to x2 in 4 weeks to make the price at least $100k before the end of the year? IF this happen this obviously we are in a bubble already and it doesn't look good in my opinion.

As for the TA, still a hit or miss, the thing is that we are in a dip so it's really profitable to buy at this point regardless if you are a TA guy or just an ordinary but smart investor.

[Botnake]

The stock to flow model suggests that by the end of this year we should be around $100,000 in value. And I think with the technical analysis that you have there it's possible to reach that amount. I think It matters what the following months that we are going to have this year which is now December would push us to the next rally. Maybe a lot of people would get into it.

Do you think we can grow to x2 in 4 weeks to make the price at least $100k before the end of the year? IF this happen this obviously we are in a bubble already and it doesn't look good in my opinion.

As for the TA, still a hit or miss, the thing is that we are in a dip so it's really profitable to buy at this point regardless if you are a TA guy or just an ordinary but smart investor.

What you have OP is definitely a hope for all of us and yes, it really has chances to happen because history might be repeating itself again and again. But with the market's high volatility, its very hard to predict  what will happen in the next days or months. Maybe we should focus more on the current condition of the market and take advantage of buying some potential coins that are still having low prices. But let's just keep hoping and stay optimistic that we will see a bullish market right before bear season starts, it could be this year or early next year.

[Poker Player]

The stock to flow model suggests that by the end of this year we should be around $100,000 in value. And I think with the technical analysis that you have there it's possible to reach that amount. I think It matters what the following months that we are going to have this year which is now December would push us to the next rally. Maybe a lot of people would get into it.

Not really. What it predicted was around $100k by the end of november, which already failed, and $135k. Perhaps the price will be boosted in December, but PlanB's model, as it was proposed, is no longer useful, and predictive models (which, no matter how much analysis they contain, will never predict with 100% reliability, far from it) will have to be rethought.

[Wexnident]

Looks more like wishful thinking (like I did) than a proper analysis tbh. Honestly, it doesn't look like the market is just going to do anything, more sideways movement is what I'd expect as usual. Well not that it matters to me really, go up or down, I'm still gonna hodl for a couple more years. Side if we just zoomed out, you can always see Bitcoin going up. It's just a matter of "when" exactly. So really, I don't think it matters that much if you're in the hodl cult, if you're not, well good luck watching the market daily.

[hugeblack]

What happened in the past will not be repeated because of the many variables that have occurred, but this does not prevent that there will be a rise, especially since Bitcoin is rising strongly when many believe that the price will not rise much.

Therefore, predicting the next month may be impossible, but levels like 92K do not seem impossible if we compare what happened at the beginning of this year.

In general, the effect of the new mutation of COVID will contribute to shaping what will happen this month.

[tertius993]

The problem with most TA and in fact most predictions is that they are made up of a cocktail of confirmation bias and wishful thinking.

[aoluain]

That's a pretty good analysis but the problem is Bitcoin price is unpredictable it could be a trap or you might be right.
For now, it's always better to set stop-limit loss and watch for the price movement.

And always monitor news because there is some news that has a big impact on the Bitcoin price like the news about COVID above.
There are tools that you can use to monitor all news here https://cryptopanic.com/

And monitor inflow/outflow on cryptoquant.com for a better analysis.

The new Omicron variant is said to influence the financial market again.
But this is yet to be seen also in crypto market.

Well unfortunately the crypto market is somewhat connected to the financial
market because traditional financial investors have infiltrated the crypto scene.


Hard to know if we will get a break out based on similar historical movements, the
Bitcoin market this year has bucked many trends along with some of PlanB's
predictions, so at the moment I'm not holding my breath for a massive breakout
let alone $100,000 year end.

[pooya87]

The markets had a bad days due to fear of COVID
I don't know what will happen next:

People react to news right away not with a large delay specially when we are talking about a 24/7 market like bitcoin. If they were to react to COVID news and other markets dumping they would have already showed some kind of reaction already.
Meanwhile price is currently $57k and doesn't seem interested in going down.

[NeuroticFish]

People react to news right away not with a large delay specially when we are talking about a 24/7 market like bitcoin. If they were to react to COVID news and other markets dumping they would have already showed some kind of reaction already.
Meanwhile price is currently $57k and doesn't seem interested in going down.

There was a flash dump yesterday, quickly going from over 59k to 56.6k, but the magnitude was small (flash dump for ants).
I find it interesting that it didn't go significantly up or down. And instead the news about the Canadian ETF have come. Again, with no effect on the price.
All in all, I think that Ratimov has nailed it:

More like your great desire to see a breakout in this picture than a real breakout signal. That is to say, wishful thinking.

[palle11]

The fast way that bitcoin recovers from dropping is what should matter . If the price comes back quick after the drop it means fear is no longer having an effect on the market because of the season. At every drop, more buyers are ready for an advantage and that put price back as they are having the speculation for bull and nobody want to stay outside. So that is steadily giving price recovery as it is ranging since morning for a bull direction.

[Lucius]

And now the market is not growing, it is now squeezed in a narrow corridor, between $53 000 and $58 000.

When I read that the narrow corridor is as high as $5000 (or rather it would be $6k because the price goes up to $59k), then I remember the good old days when we were debating whether the price would ever reach $1000 again, or whether it was realistic to expect $10k to at the end of this decade. I know that for day traders and those who invest in the short term, things like this make sense - but for the rest of us, it doesn't matter at all, nor will it be disappointing if we don't reach a new ATH this year.

People react to news right away not with a large delay specially when we are talking about a 24/7 market like bitcoin.

The only question is which people react first, because half the world should sleep while the other half is awake - and I think someone has tried to make a connection between the US and the Asian market (WO), that goes from assuming one market buys (price goes up) and when the second market wakes up, sales start. Of course, such things are impossible to prove precisely, because many traders often sleep only 3-4 hours and are active most of the time.

[Silberman]

Following the ups and downs from before shows a similar pattern where the next stage is a nice pump and a huge green candle.

If it does indeed repeat then buying now would be a rather profitable move

The similarities are striking so this is a very good find, but even then we must remember that the markets are full of patterns like this which could indicate that the price is about to do something only to do the complete opposite, as the circumstances in which both of those movements happened are very different, and right now with the new strain causing havoc around the markets I think it could be difficult to see such a sharp increase in the price.

[RealMalatesta]

Following the ups and downs from before shows a similar pattern where the next stage is a nice pump and a huge green candle.

If it does indeed repeat then buying now would be a rather profitable move

It is highly expected something like this coming soon. I know that people are not sure which direction it will go, and I am not neither, but a "breakout" is exactly what I was suspecting. Not that I know it will go up, but I know that either down or up it would have a big movement. Whenever bitcoin gets stuck between the same prices and doesn't go up or down too much for weeks (we have been between 55k and 60k for a long time now) I know that it will definitely have a huge move. Now, I am not sure if it will be up, maybe it will be down and we will go under 50k, who knows? But this chart shows that there is a good chance the movement will be towards upwards.

[adaseb]

I think if it wasn’t for the Omnicron which is causing all these stock market sell offs and then Bitcoin following, we would of already broke the $60K. But whenever Bitcoin is starting to rally, traders are the SP500 go down more than 1% and they correlate the trades and start to sell Bitcoin.

For the last 4 days the ranges were tight. There is a CME gap at $54500 which has a good chance at filling first before we head back up to the $60K. No idea when that will be. So far the market is just chopping around.

[arufox]

The crypto market is in a bearish phase at the moment, where the price of bitcoin has continued to correct in the last few weeks due to fears of the Omicron variant of Covid-19 resulting in a massive sell-off. From a technical point of view, the possible downside for bitcoin could be more stable around the $56k level, although gains appear to be limited above $60k-$65k.

[Oceat]

The crypto market is in a bearish phase at the moment, where the price of bitcoin has continued to correct in the last few weeks due to fears of the Omicron variant of Covid-19 resulting in a massive sell-off. From a technical point of view, the possible downside for bitcoin could be more stable around the $56k level, although gains appear to be limited above $60k-$65k.

Once again I would say that Bitcoin and Covid is not correlated at all ever since from the start of lockdown. It is possible that most investors are now in a panic due to the FUD releasing left and right that's why they think it's time to dump but I think if Bitcoin reached the bottom below $50k then a possible bear is coming.

But the chart says it's just a temporary dump and looks like a bear trap to me to consider it a full time correction straight to bear run. So, I will consider this opportunity a good time to buy the dip and hodl until the market pumps back again. I'm sure most of them are waiting for the breaking of $70k resistance straight to $100k as they said.

[Fundamentals Of]

I cannot connect the dots between the news about the rising Omicron variant of corona virus and the falling of the price of Bitcoin. The discussion about the Omicron variant came a lot earlier than the price fall which just happened hours ago. The downward trajectory of the price of Bitcoin cannot be about the Omicron variant. In fact, the earlier news about the new COVID variant was much more negative than what we have now. The Omicron variant discussion was full of uncertainty earlier. Right now, it is almost a fact that it is mild and not really a big threat. So there must be other reasons for this price fall.

[adaseb]

I cannot connect the dots between the news about the rising Omicron variant of corona virus and the falling of the price of Bitcoin. The discussion about the Omicron variant came a lot earlier than the price fall which just happened hours ago. The downward trajectory of the price of Bitcoin cannot be about the Omicron variant. In fact, the earlier news about the new COVID variant was much more negative than what we have now. The Omicron variant discussion was full of uncertainty earlier. Right now, it is almost a fact that it is mild and not really a big threat. So there must be other reasons for this price fall.

It’s not only that. It’s mostly due to the fact that Bitcoin is a risk on asset and it currently has a strong correlation with the stock indices such as SP500.

Pull up TradingView and compare the two you will see how closely they mimic their moves. It’s because if crypto traders see the stock markets heading lower, they start to sell their cryptos.

This week is was full of bad news with new covid, tapering and rising rates and Biden having a cough, etc.

[Silberman]

I think if it wasn’t for the Omnicron which is causing all these stock market sell offs and then Bitcoin following, we would of already broke the $60K. But whenever Bitcoin is starting to rally, traders are the SP500 go down more than 1% and they correlate the trades and start to sell Bitcoin.

For the last 4 days the ranges were tight. There is a CME gap at $54500 which has a good chance at filling first before we head back up to the $60K. No idea when that will be. So far the market is just chopping around.

There is little doubt in my mind that the new strain of the virus is affecting the markets and most likely we are going to keep seeing this for a few months until we can more clearly understand what are the real effects this strain is having around the world, now while this may seem like bad news at the same time it is going to give us months to buy more bitcoin, which is great as a great deal of the people did not had any money left as they have been buying bitcoin during all year, and this could make the upcoming bull run even stronger.

[XCANA]

I do hope that op is seeing what is happening to Bitcoin price and that not at all time history do repeat it self in the crypto currency space. Whoever it still expecting any serious upward direction of Bitcoin before the end of this December may wait in vain because people will soon Start conversation of Bitcoin to cash just for Christmas purchase of goods.

[sana54210]

I think history may not repeat this time as we are almost close to year end and yet bitcoin even becomes more bearish. So let's just say that this year is totally different from year 2017. Although we can still witness new ATH for bitcoin but it maybe by next year already. But we should not resort to regretting this time as bitcoin has still the highest value when it comes to crypto. Instead, make this as a good opportunity to fill your bags of affordable coins. And as much as possible, maximize bitcoin as it will always be the most profitable investment as it is.

December part could be different, after all not every December has been a big increase and I am sure that this year could be a down year, look at what we have been doing this December so far just as an example. However, if we look at the history as "after every huge fall, eventually there was an ATH bull run" and then I am pretty sure that it will happen this time around as well and history will repeat itself in that regard.

I am not saying that it has to be in December though, maybe it will be April, maybe June, I do not know how long it will be this time around, 2018 took nearly over a year before we got a good news so I could understand if this took a bit long, yet it looks like even December is possible as well because latest drop during may was recovered on October so it may take a little or it may take a lot longer than that.

[Slow death]

I am impressed when the price drops a lot, analysts seem to say that the price will drop a lot, when the price rises a lot, analysts appear to say that the price will rise a lot. in case of today's news:

One more Bitcoin price dip? BTC may fall again before 'slow grind up,' warns analyst

are the same people who were predicting $100,000 for this year

[Silberman]

I think history may not repeat this time as we are almost close to year end and yet bitcoin even becomes more bearish. So let's just say that this year is totally different from year 2017. Although we can still witness new ATH for bitcoin but it maybe by next year already. But we should not resort to regretting this time as bitcoin has still the highest value when it comes to crypto. Instead, make this as a good opportunity to fill your bags of affordable coins. And as much as possible, maximize bitcoin as it will always be the most profitable investment as it is.

December part could be different, after all not every December has been a big increase and I am sure that this year could be a down year, look at what we have been doing this December so far just as an example. However, if we look at the history as "after every huge fall, eventually there was an ATH bull run" and then I am pretty sure that it will happen this time around as well and history will repeat itself in that regard.

I am not saying that it has to be in December though, maybe it will be April, maybe June, I do not know how long it will be this time around, 2018 took nearly over a year before we got a good news so I could understand if this took a bit long, yet it looks like even December is possible as well because latest drop during may was recovered on October so it may take a little or it may take a lot longer than that.

What happens is that with governments printing so much money all over the world and generating inflation and uncertainty in the minds of their citizens this is creating a different environment than what we saw back then during the previous bull run of 2017, there is not really any rush for investors to try to come to the market and make money quickly, because if governments keep printing money, and there is no reason to think this is going to change, then they can take their time to enter this market as I think the bull run this time around will be slower but it will last longer too.

[Coin_trader]

I am impressed when the price drops a lot, analysts seem to say that the price will drop a lot, when the price rises a lot, analysts appear to say that the price will rise a lot. in case of today's news:

One more Bitcoin price dip? BTC may fall again before 'slow grind up,' warns analyst

are the same people who were predicting $100,000 for this year

It's normal because of the price trend. If there's a confirmed price, The price usually keeps going to that direction unless there's a reversal, Predicting the reversal point is very hard especially if the known support or resistance is broken since the only way to have a reversal is to reach the point that no one is selling or buying (indecision). So normally TA analyst predict worst case scenario during the start of a major sell off or buy pressure.

Only newbie TA analyst will post a bullish chart on a bearish market or vice versa since no one can counter the trend. Those TA that showing an exaggerated TA is just assuming a worst case scenario which is possible if no one trust already the coin.

[Kemarit]

I am impressed when the price drops a lot, analysts seem to say that the price will drop a lot, when the price rises a lot, analysts appear to say that the price will rise a lot. in case of today's news:

One more Bitcoin price dip? BTC may fall again before 'slow grind up,' warns analyst

are the same people who were predicting $100,000 for this year

It's because Bitcoin has a history of recovering from a huge market correction and even bounce higher that it once had. So we fall at $66,000 and maybe we can bounce back at $68,000-$70,000.

But we have to wait for it, everything here is timing, and if there is a good news then the market can really achieved that run. However, the $100,000 prediction is not going to happen this year. In that scenario, we should be like in the $90,000 by now so that in the next couple of weeks, 6 digits can be achieved by it's wasn't meant to happen this year.

[Ararbermas]

Following the ups and downs from before shows a similar pattern where the next stage is a nice pump and a huge green candle.

If it does indeed repeat then buying now would be a rather profitable move

actually patterns in the market always repeat everyday, but of course market isn't perfect so sometimes there's an errors that can cause traders loses and you know its normal, and what i see on that image the first pattern is a head and shoulder, but faild so it goes down, and the second pattern after respecting the current support for how many times it creates adouble tap  pattern then skyrocketed after consolidation, and the last part yeah it's a double tap again.. But for me in my view it's very unpredictable if it will skyrocketed as well because as you can see there's a strong resistance where the price always bouncing back, if i were you mate try to use small time, maybe there's another pattern on that last part, because for me it looks there's an head and shoulders in it and you know what will happen if it succeed.

[Fundamentals Of]

I am impressed when the price drops a lot, analysts seem to say that the price will drop a lot, when the price rises a lot, analysts appear to say that the price will rise a lot. in case of today's news:

One more Bitcoin price dip? BTC may fall again before 'slow grind up,' warns analyst

are the same people who were predicting $100,000 for this year

We all know that the business of Bitcoin price prediction is a funny and uncertain game. Everybody could give his out-of-nowhere prediction. Others could provide technical analysis as a back up for their own set of predictions. There are also fundamental reasons for others to predict. There are also those who are making predictions out of different bases like stock to flow, floor, on-chain, etc. But all these predictions have one thing in common and that is uncertainty. They're all nothing but guesses.

[traderethereum]

After reaching $51k, the price can not continue the rise and back to $50k level price so it will become more difficult to predict what will happen to bitcoin this week.
But we need to still optimist that bitcoin will increase at the right time and we already see the chance to buy more bitcoin at this price or wait for the next lower price.
You should be careful to decide and always analyze by looking at the timeframe, the order buys and sell, the chart, the line of the trend and other things to know if it is a good time to buy right now or you need to wait for a while.

[darkangelosme]

Following the ups and downs from before shows a similar pattern where the next stage is a nice pump and a huge green candle.

If it does indeed repeat then buying now would be a rather profitable move

Don't rely on charts to much dude it failed me many times, that's why i only use my instinct of when is the time to buy and when is the time to sell and just follow the rules of buy when low and sell when high that's it, cause i believe that trading is the game of waiting.

[arufox]

The crypto market is in a bearish phase at the moment, where the price of bitcoin has continued to correct in the last few weeks due to fears of the Omicron variant of Covid-19 resulting in a massive sell-off. From a technical point of view, the possible downside for bitcoin could be more stable around the $56k level, although gains appear to be limited above $60k-$65k.

Once again I would say that Bitcoin and Covid is not correlated at all ever since from the start of lockdown. It is possible that most investors are now in a panic due to the FUD releasing left and right that's why they think it's time to dump but I think if Bitcoin reached the bottom below $50k then a possible bear is coming.

But the chart says it's just a temporary dump and looks like a bear trap to me to consider it a full time correction straight to bear run. So, I will consider this opportunity a good time to buy the dip and hodl until the market pumps back again. I'm sure most of them are waiting for the breaking of $70k resistance straight to $100k as they said.

Right. I agree with you that the current bitcoin price correction is actually still normal and reasonable despite the negative FED news. I think the current bitcoin price correction is an inevitable part of the market, but it can still be used to buy dips and holds.

[Kasabus]

The crypto market is in a bearish phase at the moment, where the price of bitcoin has continued to correct in the last few weeks due to fears of the Omicron variant of Covid-19 resulting in a massive sell-off. From a technical point of view, the possible downside for bitcoin could be more stable around the $56k level, although gains appear to be limited above $60k-$65k.

Once again I would say that Bitcoin and Covid is not correlated at all ever since from the start of lockdown. It is possible that most investors are now in a panic due to the FUD releasing left and right that's why they think it's time to dump but I think if Bitcoin reached the bottom below $50k then a possible bear is coming.

But the chart says it's just a temporary dump and looks like a bear trap to me to consider it a full time correction straight to bear run. So, I will consider this opportunity a good time to buy the dip and hodl until the market pumps back again. I'm sure most of them are waiting for the breaking of $70k resistance straight to $100k as they said.

Right. I agree with you that the current bitcoin price correction is actually still normal and reasonable despite the negative FED news. I think the current bitcoin price correction is an inevitable part of the market, but it can still be used to buy dips and holds.

Yes. Although the market seems to be bearish, but i think we are not there yet and just an inevitable price correction is what we have right now. Back to the chart, there are always chances that history might repeat itself and bitcoin will still end up reaching a new ATH before december ends. But on the other hand, it might be quite late this year as we are now close to year end but still bitcoin has always been ranging below $50k, and not even sure when will it moves up considering that bitcoin is so much unpredictable this time.

[freedomgo]

Following the ups and downs from before shows a similar pattern where the next stage is a nice pump and a huge green candle.

If it does indeed repeat then buying now would be a rather profitable move

Don't rely on charts to much dude it failed me many times, that's why i only use my instinct of when is the time to buy and when is the time to sell and just follow the rules of buy when low and sell when high that's it, cause i believe that trading is the game of waiting.

The bitcoin market seems very different today compared to its previous years and history may not work this time as bitcoin is more dumping its price when it should be rising to reach new heights. But still, knowing the fact that bitcoin is even more unpredictable and surprises may come when we least expect it, so i'm not closing my mind that history has still its chance to repeat itself before this year ends. Well, we will only know once we get there. For now, stay optimistic and never resort into panic selling no matter what.

[Silberman]

I am impressed when the price drops a lot, analysts seem to say that the price will drop a lot, when the price rises a lot, analysts appear to say that the price will rise a lot. in case of today's news:

One more Bitcoin price dip? BTC may fall again before 'slow grind up,' warns analyst

are the same people who were predicting $100,000 for this year

We all know that the business of Bitcoin price prediction is a funny and uncertain game. Everybody could give his out-of-nowhere prediction. Others could provide technical analysis as a back up for their own set of predictions. There are also fundamental reasons for others to predict. There are also those who are making predictions out of different bases like stock to flow, floor, on-chain, etc. But all these predictions have one thing in common and that is uncertainty. They're all nothing but guesses.

And the funny thing is that the price moves up and down based on the actions taken by the people making those predictions, after all if someone predicts the price will go down then it is natural they will sell, and if someone predicts the price will go up then it is natural they will buy, so the movements of most assets depend on how the demand moves, and this depends on the individual prediction each market participant makes, so when the majority of them predict a move up and buy an asset then a growth in the price is produced, this is the reason the markets are completely unpredictable as each person on their own can come to their own conclusions about what is happening in the market now and what it will happen in the future.

[ShowOff]

The bitcoin market seems very different today compared to its previous years and history may not work this time as bitcoin is more dumping its price when it should be rising to reach new heights. But still, knowing the fact that bitcoin is even more unpredictable and surprises may come when we least expect it, so i'm not closing my mind that history has still its chance to repeat itself before this year ends. Well, we will only know once we get there. For now, stay optimistic and never resort into panic selling no matter what.

History may repeat itself, but it may also be different from what happened. Expecting ATH during December is hard to come true as I think people are already wary of the downside about a potential bigger dump. If maybe ATH is not reached this December then I believe the market will experience a rapid correction in the end.

The market is still very difficult to predict, while the new variant of covid greatly disrupts price growth because there is a close corelation with stock investors. We can only hope at a time although it looks like it will be difficult this year to $100K.

[Silberman]

The bitcoin market seems very different today compared to its previous years and history may not work this time as bitcoin is more dumping its price when it should be rising to reach new heights. But still, knowing the fact that bitcoin is even more unpredictable and surprises may come when we least expect it, so i'm not closing my mind that history has still its chance to repeat itself before this year ends. Well, we will only know once we get there. For now, stay optimistic and never resort into panic selling no matter what.

History may repeat itself, but it may also be different from what happened. Expecting ATH during December is hard to come true as I think people are already wary of the downside about a potential bigger dump. If maybe ATH is not reached this December then I believe the market will experience a rapid correction in the end.

The market is still very difficult to predict, while the new variant of covid greatly disrupts price growth because there is a close corelation with stock investors. We can only hope at a time although it looks like it will be difficult this year to $100K.

I think it should be obvious by now that it is going to be very unlikely that we are going to see a repetition of what happened at December of 2017 during this month, however this is not as bad as people are thinking, after all even if we saw bitcoin reaching new ATHs back then that was also the beginning of the crypto winter we had to survive, so as long as we do not see bitcoin crashing like what we saw back then I will be satisfied with whatever result we get.

[AliMan]

It's been so many times I've seen how unpredictable bitcoin market was, that's why I don't wander if same pattern will continue to exist. Though it seem very challenging to many of us who been following the footsteps which we been continuously taking path with, because all the efforts and patience was really rewarding when perfect time comes for our target. Technical analysis is very important even if there's no perfect projections.

[STT]

It only  has to discontinue the pattern of falling and it should rise from this alone.   We have a series of lows confirming some support below, maintaining that over days and weekly bars will bring bullish action.   I dont imagine it performs so simply but thats the foundation of how markets cycle between periods of selling, there is the outside factors of larger markets and the dollar itself to consider
  3 central banks meet this week, the largest in the world it can be no news or changing for the stance of the next year.  Just the anticipation of that possibility will already have had an effect in caution and less trades risked before the news events.

[Yaunfitda]

The bitcoin market seems very different today compared to its previous years and history may not work this time as bitcoin is more dumping its price when it should be rising to reach new heights. But still, knowing the fact that bitcoin is even more unpredictable and surprises may come when we least expect it, so i'm not closing my mind that history has still its chance to repeat itself before this year ends. Well, we will only know once we get there. For now, stay optimistic and never resort into panic selling no matter what.

History may repeat itself, but it may also be different from what happened. Expecting ATH during December is hard to come true as I think people are already wary of the downside about a potential bigger dump. If maybe ATH is not reached this December then I believe the market will experience a rapid correction in the end.

The market is still very difficult to predict, while the new variant of covid greatly disrupts price growth because there is a close corelation with stock investors. We can only hope at a time although it looks like it will be difficult this year to $100K.

I think it should be obvious by now that it is going to be very unlikely that we are going to see a repetition of what happened at December of 2017 during this month, however this is not as bad as people are thinking, after all even if we saw bitcoin reaching new ATHs back then that was also the beginning of the crypto winter we had to survive, so as long as we do not see bitcoin crashing like what we saw back then I will be satisfied with whatever result we get.

Yeah, because we have been what? reaching ATH twice already for this year.

Maybe we already reach the top on the $68k ATH or maybe there will be enough push next year but definitely not in December. So the pattern has broken already although as I have said, we still have 2022 to look forward for a still bullish momentum and not comparable to 2017 wherein it was the start of a bearish trend. So let's see how it goes, I'm looking forward already for 2022 and be ready for anything, (bull trend continue or start of a bear market).

[Vaculin]

The bitcoin market seems very different today compared to its previous years and history may not work this time as bitcoin is more dumping its price when it should be rising to reach new heights. But still, knowing the fact that bitcoin is even more unpredictable and surprises may come when we least expect it, so i'm not closing my mind that history has still its chance to repeat itself before this year ends. Well, we will only know once we get there. For now, stay optimistic and never resort into panic selling no matter what.

History may repeat itself, but it may also be different from what happened. Expecting ATH during December is hard to come true as I think people are already wary of the downside about a potential bigger dump. If maybe ATH is not reached this December then I believe the market will experience a rapid correction in the end.

The market is still very difficult to predict, while the new variant of covid greatly disrupts price growth because there is a close corelation with stock investors. We can only hope at a time although it looks like it will be difficult this year to $100K.

I think it should be obvious by now that it is going to be very unlikely that we are going to see a repetition of what happened at December of 2017 during this month, however this is not as bad as people are thinking, after all even if we saw bitcoin reaching new ATHs back then that was also the beginning of the crypto winter we had to survive, so as long as we do not see bitcoin crashing like what we saw back then I will be satisfied with whatever result we get.

No matter what the path bitcoin will take this year, i think we don't have choices really but to accept it as there's no way we can control the price of bitcoin. But i do believe that history won't be repeated this year since we are already close to year end but bitcoin still bouncing its price below $50k. But i chose to be optimistic despite of the current market condition and just start maximizing my purchase while bitcoin price is still in correction. Hopefully, if we can't see new ATH this year, probably it will be more visible by 2022.

[Finestream]

The bitcoin market seems very different today compared to its previous years and history may not work this time as bitcoin is more dumping its price when it should be rising to reach new heights. But still, knowing the fact that bitcoin is even more unpredictable and surprises may come when we least expect it, so i'm not closing my mind that history has still its chance to repeat itself before this year ends. Well, we will only know once we get there. For now, stay optimistic and never resort into panic selling no matter what.

History may repeat itself, but it may also be different from what happened. Expecting ATH during December is hard to come true as I think people are already wary of the downside about a potential bigger dump. If maybe ATH is not reached this December then I believe the market will experience a rapid correction in the end.

The market is still very difficult to predict, while the new variant of covid greatly disrupts price growth because there is a close corelation with stock investors. We can only hope at a time although it looks like it will be difficult this year to $100K.

I would not hope for bitcoin to reach $100k this year as its very hard for it to achieve considering its market condition. But i do hope that after all these price declines that we are witnessing, we will still end up this year with bitcoin price at $70k at least. So that gives the reason to celebrate for those who bought bitcoin when it was $45k below or even $50k below.

However, bitcoin will not stay for long having its price corrected, it will eventually skyrocket to the moon again and end up having its new ATH. But that will be good by next year as bitcoin always proved to us that it will always regain its momentum no matter what.

[ShowOff]

I would not hope for bitcoin to reach $100k this year as its very hard for it to achieve considering its market condition. But i do hope that after all these price declines that we are witnessing, we will still end up this year with bitcoin price at $70k at least. So that gives the reason to celebrate for those who bought bitcoin when it was $45k below or even $50k below.

To reach $100K by the end of this year, we need very strong support from institutional investors whose investment can drive a lot of demand for coin in the market. Microstrategy via Michael Saylor announced that they had spent enough money to buy an additional 1434 bitcoin some time ago at an average price of $57,477 per bitcoin. It was a strong encouragement before the end of the year but the market was affected by the FUD leading to further correction. So it would be hard to see the price going as high as $100K this year although $60K - $70K is still possible for the rest of the day in December.

However, bitcoin will not stay for long having its price corrected, it will eventually skyrocket to the moon again and end up having its new ATH. But that will be good by next year as bitcoin always proved to us that it will always regain its momentum no matter what.

I'm not too sure about 2022, but things could turn out the other way around even though we know that historically bitcoin could hit higher price than ATH before.

[asrinur]

More than the last few weeks the price of bitcoin is still experiencing a deep price correction, market sentiment is still negative.
Although the current bear market is not over yet, I see the potential for a bitcoin bullish breakout to still occur. therefore, if the bull market starts later, bitcoin will set a new ATH record at $70k-up to $85k in 2022.

[Silberman]

More than the last few weeks the price of bitcoin is still experiencing a deep price correction, market sentiment is still negative.
Although the current bear market is not over yet, I see the potential for a bitcoin bullish breakout to still occur. therefore, if the bull market starts later, bitcoin will set a new ATH record at $70k-up to $85k in 2022.

The potential is still very high for bitcoin to continue its growth during the next year, it is just that there are some external factors that are slowing down this process, for example we know the new strain of the virus has all the leaders of the world worried about it, and now it seems there is new scientific evidence coming out hinting at the possibility that the current vaccines are not going to be good enough to stop this new strain and that maybe new ones are going to be needed, and without a doubt this is going to slowdown the growth that we were expecting out of bitcoin.

[Baofeng]

More than the last few weeks the price of bitcoin is still experiencing a deep price correction, market sentiment is still negative.
Although the current bear market is not over yet, I see the potential for a bitcoin bullish breakout to still occur. therefore, if the bull market starts later, bitcoin will set a new ATH record at $70k-up to $85k in 2022.

The potential is still very high for bitcoin to continue its growth during the next year, it is just that there are some external factors that are slowing down this process, for example we know the new strain of the virus has all the leaders of the world worried about it, and now it seems there is new scientific evidence coming out hinting at the possibility that the current vaccines are not going to be good enough to stop this new strain and that maybe new ones are going to be needed, and without a doubt this is going to slowdown the growth that we were expecting out of bitcoin.

Hopefully this will be the case, in any case though, I would prepare myself for the eventuality of a bearish trend for next year, just saying. The new strain of virus that has affected us has been in the news for weeks now, but now it should have settled down. But instead there could be other reasons as well, like we are really entering a new phase which is bearish, just saying.

[jaberwock]

Following the ups and downs from before shows a similar pattern where the next stage is a nice pump and a huge green candle.

If it does indeed repeat then buying now would be a rather profitable move

From the time of you posted this, bitcoin market started to behave like repeating the history and it is into sideways movement around $51k levels which again may launch the prices into next resistance region which may happen around $58k levels and after having some more sideways between $56k to $58k levels, it may start the rally toward new ATH which might be above $70k levels.

As of now, I as well started to believe into the concept of repeating of history even in short time frame. It would be too good if you keep on posting similar speculations to help this community to understand where the bitcoin market is heading.

[ultrloa]

More than the last few weeks the price of bitcoin is still experiencing a deep price correction, market sentiment is still negative.
Although the current bear market is not over yet, I see the potential for a bitcoin bullish breakout to still occur. therefore, if the bull market starts later, bitcoin will set a new ATH record at $70k-up to $85k in 2022.

The potential is still very high for bitcoin to continue its growth during the next year, it is just that there are some external factors that are slowing down this process, for example we know the new strain of the virus has all the leaders of the world worried about it, and now it seems there is new scientific evidence coming out hinting at the possibility that the current vaccines are not going to be good enough to stop this new strain and that maybe new ones are going to be needed, and without a doubt this is going to slowdown the growth that we were expecting out of bitcoin.

Hopefully this will be the case, in any case though, I would prepare myself for the eventuality of a bearish trend for next year, just saying. The new strain of virus that has affected us has been in the news for weeks now, but now it should have settled down. But instead there could be other reasons as well, like we are really entering a new phase which is bearish, just saying.

I don't worry that much if bear run comes since before that could happen we have to experience a great bullish trend and it's the time to make the best of our assets to make some profit before the bear comes. This new covid variant somehow doesn't affect that much of the market since I don't find any correlation with it and how would the market behave if there's a new variant since covid in the past doesn't have much of impact to the market when there's just no new variant and no vaccine yet.

[savetheFORUM]

This new covid variant somehow doesn't affect that much of the market since I don't find any correlation with it and how would the market behave if there's a new variant since covid in the past doesn't have much of impact to the market when there's just no new variant and no vaccine yet.

No, the new variant effected crypto market negatively but it seems we are slowly recovering as weak hands are always listening to all FUDs and do react. The good thing is, new covid strain is not as effective as it was projected by WHO still some countries are about to announce lock down restrictions hence we might be having sideways market for few more days before witnessing any upward leaping.

I am also always positive about the repeating of history; let us watch that as per OP's speculation market gets the potential to scale $70k+ this time.

[SquallLeonhart]

It would be too good if you keep on posting similar speculations to help this community to understand where the bitcoin market is heading.

If you noticed there are regular people who are continuously posting such speculations to alert/make use of upcoming upward or downward market trends. All you need to do is, keep on checking this sub board more frequently so that you will get many useful guidelines about upcoming bitcoin market trend changes.

I am also always positive about the repeating of history let; us watch that as per OP's speculation market gets the potential to scale $70k+ this time.

It seems OP must be accurate with their speculation as we already got into the beginning of upcoming bullish trend but not sure how long it will last and where we are going to launch bitcoin prices this time; it could be either new ATH or just another short term bullish wave.

[tokeweed]

Here’s something that could repeat.  If price history could be used as an indicator...



Both initial resitances happened after around a 30% sell down.  First bounce usually is just that, a dead cat bounce before going back down to accumulation mode.  So yeah..  It could be another couple of weeks before we see BTC starts trending up agai.  But that’s if we don’t see it break down below 40k.

[palle11]

This new covid variant somehow doesn't affect that much of the market since I don't find any correlation with it and how would the market behave if there's a new variant since covid in the past doesn't have much of impact to the market when there's just no new variant and no vaccine yet.

No, the new variant effected crypto market negatively but it seems we are slowly recovering as weak hands are always listening to all FUDs and do react. The good thing is, new covid strain is not as effective as it was projected by WHO still some countries are about to announce lock down restrictions hence we might be having sideways market for few more days before witnessing any upward leaping.

I am also always positive about the repeating of history; let us watch that as per OP's speculation market gets the potential to scale $70k+ this time.

On the covid-19 strain, I think it is not affecting price negatively at all and it is already having a traceable history from last year that it helped cryptocurrency to have push and better recognition from the past years. During the covid-19 lockdown, the price of bitcoin appreciated very well so it won't be different if there are conditioning of human interaction. It has not mattered when covid-19 pendamic was at its peak and it won't stop price now. Therefore I think Op speculation is not far from what can happen.

[cryptomaniac_xxx]

This new covid variant somehow doesn't affect that much of the market since I don't find any correlation with it and how would the market behave if there's a new variant since covid in the past doesn't have much of impact to the market when there's just no new variant and no vaccine yet.

No, the new variant effected crypto market negatively but it seems we are slowly recovering as weak hands are always listening to all FUDs and do react. The good thing is, new covid strain is not as effective as it was projected by WHO still some countries are about to announce lock down restrictions hence we might be having sideways market for few more days before witnessing any upward leaping.

I am also always positive about the repeating of history; let us watch that as per OP's speculation market gets the potential to scale $70k+ this time.

On the covid-19 strain, I think it is not affecting price negatively at all and it is already having a traceable history from last year that it helped cryptocurrency to have push and better recognition from the past years. During the covid-19 lockdown, the price of bitcoin appreciated very well so it won't be different if there are conditioning of human interaction. It has not mattered when covid-19 pendamic was at its peak and it won't stop price now. Therefore I think Op speculation is not far from what can happen.

You could be right, but you know that this kind of news will have a short term effect on the price.

Just like what we've seen since the Omicron variant was divulge to the public. The price really goes down from the last all time high we got. But hopefully next year will be different and that the covid-19 will be over so that we can see the market rally again without this news around.

[$crypto$]

Just like what we've seen since the Omicron variant was divulge to the public. The price really goes down from the last all time high we got. But hopefully next year will be different and that the covid-19 will be over so that we can see the market rally again without this news around.

Hopefully this doesn't become an extension of their panic because I'm sure they will panic and save fiat for all their needs if this Omicron variant is widespread so I think at least it must have an influence on the bitcoin price.
But whatever happens we have to stay calm seeing this situation and never get carried away because with this new variant it disturbs their current investment, so we all have to be able to survive with the current bitcoin price and believe that next year we will see a new atmosphere.

[fullhdpixel]

The price really goes down from the last all time high we got. But hopefully next year will be different and that the covid-19 will be over so that we can see the market rally again without this news around.

Yeah I remember that by the times of this Omicron variant was identified, bitcoin was trading around $58k levels but market reacted to that and then bitcoin slide down to below $50k levels within a week time of span. I guess only retail investors might have pulled down their investments but long term holders might have continued which is the reason we managed to stay above $45k levels; otherwise we might have experienced fall-down up to $30k levels.

Now, it seems the time for recovery and then new ATH. I just do not want another ATH within $70k levels. I just dream about a big leap toward $90k to $100k. If history repeats then it should be a copy of what we had in 2017 and not just what we had some weeks back.

[cafucafucafu]

Any part of history can repeat - but it's what part of history repeats that matters.

I personally think that a breakout is going to be almost impossible given the current circumstances.

The halving cycle is coming to an end as of currently while the Christmas rally has shown that $50k resistance is still quite strong. It'll take a lot to reverse this bearishness.

[bitgolden]

From the time of you posted this, bitcoin market started to behave like repeating the history and it is into sideways movement around $51k levels which again may launch the prices into next resistance region which may happen around $58k levels and after having some more sideways between $56k to $58k levels, it may start the rally toward new ATH which might be above $70k levels.

As of now, I as well started to believe into the concept of repeating of history even in short time frame. It would be too good if you keep on posting similar speculations to help this community to understand where the bitcoin market is heading.

I am not expecting the rally towards 70k to happen anytime soon, but I agree that the rally towards 58k seems like the possible next move. Obviously I have to state that this is just my prediction and it is not a guaranteed thing, I am not a wizard that can see the future, I just feel like that's the "possible" next move. By the looks of it the 58k mark will be hard to crack, I mean we could have a huge bull run like we had many times and break through it, but unless that happens the next target 58k could be hit and stay there.

For a while we will move between 55k to 58k and go up and down around those prices. Only after that we will move to above 60k once again. Seeing how it took us a while to go beyond 50k again, and how we dropped few times and went above again, I have to say the 70k goal could take a month or two after we reach the 58k levels.

[Kemarit]

Any part of history can repeat - but it's what part of history repeats that matters.

I personally think that a breakout is going to be almost impossible given the current circumstances.

The halving cycle is coming to an end as of currently while the Christmas rally has shown that $50k resistance is still quite strong. It'll take a lot to reverse this bearishness.

I'm not seeing any bullish break out, maybe few occasions this holiday but that's it for 2021. We should all look forward next year and see how it goes.

The thing is that if we look at the pattern, in 2017 we have a massive bullrun reaching new all time high. And the same happens this year, actually 2x we have a new all time high. And in 2018, it went downward spiral for us and it was the start of a bear run. So not saying that it could repeat in 2022, but if we are going to look at past history and says "history repeats" itself, then just be prepared for the worst.

[cryptomaniac_xxx]

The price really goes down from the last all time high we got. But hopefully next year will be different and that the covid-19 will be over so that we can see the market rally again without this news around.

Yeah I remember that by the times of this Omicron variant was identified, bitcoin was trading around $58k levels but market reacted to that and then bitcoin slide down to below $50k levels within a week time of span. I guess only retail investors might have pulled down their investments but long term holders might have continued which is the reason we managed to stay above $45k levels; otherwise we might have experienced fall-down up to $30k levels.

Now, it seems the time for recovery and then new ATH. I just do not want another ATH within $70k levels. I just dream about a big leap toward $90k to $100k. If history repeats then it should be a copy of what we had in 2017 and not just what we had some weeks back.

Who wouldn't want a huge uptick on price to 6 digits? And that's what we are expecting for this year because many speculators have pointed out that it can be done this year. Unfortunately, we are blinded by this Omicron variant that put a lot of selling pressures in the market as you have pointed out, from $58k to $43k, that's a huge lost for us. Nevertheless, who knows, maybe a conservative $70k can still be hit next year or even higher.

[Baofeng]

The price really goes down from the last all time high we got. But hopefully next year will be different and that the covid-19 will be over so that we can see the market rally again without this news around.

Yeah I remember that by the times of this Omicron variant was identified, bitcoin was trading around $58k levels but market reacted to that and then bitcoin slide down to below $50k levels within a week time of span. I guess only retail investors might have pulled down their investments but long term holders might have continued which is the reason we managed to stay above $45k levels; otherwise we might have experienced fall-down up to $30k levels.

Now, it seems the time for recovery and then new ATH. I just do not want another ATH within $70k levels. I just dream about a big leap toward $90k to $100k. If history repeats then it should be a copy of what we had in 2017 and not just what we had some weeks back.

Who wouldn't want a huge uptick on price to 6 digits? And that's what we are expecting for this year because many speculators have pointed out that it can be done this year. Unfortunately, we are blinded by this Omicron variant that put a lot of selling pressures in the market as you have pointed out, from $58k to $43k, that's a huge lost for us. Nevertheless, who knows, maybe a conservative $70k can still be hit next year or even higher.

And it wouldn't be healthy though in the long run if we see a massive run to $100k.

I'm not against it though, but for me, we might get to it maybe in the next 2-4 months and that will be the safest increase to 6 digits. Unlike the prediction for this year, they are saying that 6 digits can be reached, however, if we look at the price in October we are like in the $60k'ish and they said that $90kish in November and then more than $100k in December (which didn't happen). But in any case we hit that price in December, we might see a massive downward spiral next.

[STT]

There was no bullish breakout in this scenario but we may have beaten a negative trend by maintaining current lows above that trend.  It could prove positive if now established above that declining pattern from the highs of 2021.
  I'd speculate if we dont hold this recent low perhaps for volume reasons, we do require to go back to September lows as a more reliable area of volume to establish a low.

[jostorres]

Following the ups and downs from before shows a similar pattern where the next stage is a nice pump and a huge green candle.

If it does indeed repeat then buying now would be a rather profitable move

Have ever noticed such repeating of history in short duration? Moreover, the time gap between rise and fall along with sideways scenarios is too small right now; will not that not impact your speculation in any means? I am just seeing your analysis just like a random call as it is not backed by any of technical approach. Still, it would be good if you back your speculation with similar kind of market patterns which were repeating. I mean just showing only one chart may not be enough for convincing about your speculation. If time permits and if you had spotted similar repeating patterns in the past, please share them as well.

[Falconer]

I am not expecting the rally towards 70k to happen anytime soon, but I agree that the rally towards 58k seems like the possible next move. Obviously I have to state that this is just my prediction and it is not a guaranteed thing, I am not a wizard that can see the future, I just feel like that's the "possible" next move. By the looks of it the 58k mark will be hard to crack, I mean we could have a huge bull run like we had many times and break through it, but unless that happens the next target 58k could be hit and stay there.

Mate, I firmly believe that no matter how good the analysis, neither the TA nor the FA are ever truly guaranteed to be correct. Everyone needs to consider the possible risks because these are just predictions that are never guaranteed by anyone. That is, when someone believes in the predictions or analysis of others, they must know how to minimize the risk because we really don't have a crystal ball in hand.

For a while we will move between 55k to 58k and go up and down around those prices. Only after that we will move to above 60k once again. Seeing how it took us a while to go beyond 50k again, and how we dropped few times and went above again, I have to say the 70k goal could take a month or two after we reach the 58k levels.

$55K to $58K is still possible during the end of the year, but back to square one that we need to weigh the risks. But what is certain is that when we have a goal for long-term investment, buying is better than waiting for bullish confirmation.

[tokeweed]

Here’s something that could repeat.  If price history could be used as an indicator...



Both initial resitances happened after around a 30% sell down.  First bounce usually is just that, a dead cat bounce before going back down to accumulation mode.  So yeah..  It could be another couple of weeks before we see BTC starts trending up agai.  But that’s if we don’t see it break down below 40k.

And there it is.  I was kinda hoping I was wrong tho.  Lol.  But there’s nothing we can do.  The volume just wasn’t there and it could be a couple more weeks before the big boys decide to come back in and play.  And if they’re going to play, I think they’d want to get in lower than where BTC is right now.

I’m thinking around the bottom of the most recent huge sell down...  42k.  But they’d prolly settle for 45k.  Dunno.  

In hindsight the market could’ve been played by scalpers looking to make a quick buck for the holidays. 

[tertius993]

I'm sorry but this thread really encapsulates why TA is more or less pointless.

If it does indeed repeat then buying now would be a rather profitable move

Currently down $10k from when that was posted ...

As I said in this very thread:

The problem with most TA and in fact most predictions is that they are made up of a cocktail of confirmation bias and wishful thinking.

People need to stop dreaming about where they would like the market to go.

[tokeweed]

^  That’s cos most folks want to make the perfect buy because they think they could time the market consistently.  It’s like they’re gambling in roulette without an exit strategy if things start going south.  And one thing I’ve noticed in these parts is a lot of people and I mean a looot likes to buy on weakness and buy the dip.  But what about the dip to the dip to the dippity dip? 

Buy on strength and always know when to get out even before you enter the trade so you won’t feel lost.  Yeah...  I’m writing it for my own benefit cos I haven’t been following it.  Lololol.

[STT]

TA is only probable scenarios and you have the ability to realize a rise is part of a larger movement and buy into a 24hr gain to be part of the larger movement with less fear then others perhaps.   That would also mean you sell again if the pattern should reverse and invalidate your scenario.  It can easily be a waste of time of course.     I think alot of studies have concluded people should just choose an asset well and regular buy, if you are correct you will purchase into long term gains

[tokeweed]

^  Yup it’s not like a holy grail.  But it does give you an idea if it’s a good time to buy or sell and helps you make better decisions by giving you different views on what’s going on with the price.

Anyway some wise guy a few hours ago thought he should sell and push the price down for the lulz.    45k seems to holding strong tho.  It was prolly an attmept to shake everybody off before another break out.  But we’ll see...  What do you guys think?  Will 45k hold or break down?



Edit:  Still holding after a couple of hours.  Looks good.  I think I can stop looking now...  Lol.

[tokeweed]

After 45k broke down, it’s like we’re having the BTC June - July at 30k feelz at play again.  Lol.

So yeah, it could pretty much happen just like June - July at this range and bounce to around 48k then another sell down back again to 42k lows.  Some sideways action could come into play after exhausted longs and shorts and eventually...  errr hopefully, BTC goes back trending up again for a couple months to get some losses back.  

Then again if 42k breaks down, we better pray 30k holds or we are ckufed.