Bitcoin
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- drgs0
- This is really important. If we don't break through 8k in the next month, we could be going down down to like 4k. Personally I think we're going up.sarahfailin
- But if we bounce off of 8k and turn around downwards, I'm selling everything for a while.sarahfailin
- Maybe you were right the dip is not complete until the end of this week. Beginning of August will be interestingdrgs
- nah, I think that we won't get lower than 7400 at the lowest in this correction. fear not unless we break 7200.sarahfailin
- we just jumped up out of the Sargasso. sure glad I was fucking right! I was worried this morning though ;)sarahfailin
- there's a head and shoulders pattern potentially forming on BTC, not on the other coins. could take us down to <7200 if it is completed.sarahfailin
- People can make up stats for anything... 68% of people know that_niko
- sarahfailin3
- you hodling?********
- no i sold. i think this is completing that head and shoulders pattern that could take us down to 7200 or 6800.sarahfailin
- 2 steps forward, 1 step back, im not worrieddrgs
- ^yeah you bought in at a good spot. it might not get much lower than that.sarahfailin
- “Verifiable”monospaced
- Seems a little dramatic to react to each 1-2% daily fluctuation like it’s a crash or a windfall. It’s freakin bitcoin. :)monospaced
- Whales playing ping pongdrgs
- It's going to $3000.shapesalad
- the fate of the coins hangs in the balance. what BTC does in the next days/weeks will determine whether we're going up or down for the middle termsarahfailin
- why? what's going on in the next few days/weeks?Milan
- you’re so funny Sarahmonospaced
- why this gif? it's just boringly going sideways. it has been doing this since feb.inteliboy
- you hodling?
- sarahfailin-2
So here is why I think BTC is in trouble, maybe totally fucked.
This is the Daily chart. Each candlestick represents the prices BTC sold at during a 24-hour period. As we can see, the price has been moving within a wedge-- lower highs in each wave, higher lows as well, restricting price movement to a smaller and smaller area. This will have to change by the time we reach where the two cyan lines intersect, and it will either go UP or it will go DOWN. Since this wedge shape is a longer-term trend, we can expect a significant market movement when the wedge is broken
So which way will it go? On May 29 we touched the bottom of the wedge and we jumped up, starting a little bull run (bright green lines) upwards that seemed promising! It seemed like the bars would head towards the top of the wedge and shoot upwards from there.
But that shit is losing steam, and that is a bad sign. We have failed to accomplish a higher-high daily price, and we're about to probably see a lower-low today; this indicates a turnaround in momentum. Volume has also been very low- meaning not many people are jumping on right now, perhaps for a lack of faith that it will go up from here.
Let's look at a shorter time period.
This is the hourly chart of BTC -- each candle represents the price within an hour. You can see us testing the bottom side of those same upwards-slanted, green lines.
Everything was looking good until the "ruh roh" moment on June 4th, when a healthy retracement downward failed to find a higher point to bounce and broke the trend of having higher lows. It shot downward to hit the green line, where it found support. Since then, we have failed to accomplish a higher high than before the 4th.
We can see that momentum was the highest before the 4th, and it's been waning ever since. Despite us having lower prices and having shown recent upwards movement, people are not convinced they should buy right now.
Presently, you can see we are testing the green line again. We may bounce up from it once more, but a lot of these decreasing signs show that eventually we will fall out of the uptrend and head back towards the cyan lines of the big wedge. Time is ticking on our remaining time within the wedge, and this lackluster showing seems to show that when we break out of the wedge, it will be through the BOTTOM, and not the top.
The bottom line is that BTC will go LOWER than it went before the bull run it started on May 29th, maybe much lower.
I'm new to this, but I've been learning about charting. Thanks for listening ;)
- "The fate of the coins hangs in the balance. what BTC does in the next days/weeks will determine whether we're going up or down for the middle term"monospaced
- you realize you're talking about a grand total of only the last 9 days, right?monospaced
- wedge goes back to february, actually.sarahfailin
- the image you meant to post and the one you're discussing in those several paragraphs ... May 9 - June 8monospaced
- May 29monospaced
- I think we will go above 8k this monthdrgs
- ^if we don't break the cyan line, i think so too. I think short term we will definitely break the green uptrend linesarahfailin
- sarahfailin-2
whoops! here's that shorter time period, the hourly chart:
- detritus0
I love how much thought has been expended on analysing all of this bullshit - it puts me in mind of racing punters with 'a system'.
- Some people do this as their job. Prices are not totally random. Many ppl read these same indicators, and they decide to buy/sell based on them.sarahfailin
- If BTC were a company there would be other material influencers of it's price than just headlines and charting. That's really all BTC has.sarahfailin
- lol, omg sarah, of course the price is affected by supply and demand and not much else ... but the analysts are all essentially full of shitmonospaced
- at any given moment you can find an analyst saying one thing or the other, whatever you want to hear, and at any given time, some are actually correctmonospaced
- the price of bitcoin is based on the hype at any given moment, whether it be national news or just a talking head getting people riled up to buy or sell ...monospaced
- ... that or some whale makes a major move, and all the minnows scurry and post ridiculous memes about the movementmonospaced
- ok, so you agree with me, but in a combative way?sarahfailin
- sure, sorta ... and adding that free analysts are really not a great group to trust in general, especially with bitcoinmonospaced
- If BTC were a company, it'd be a lot easier to ascertain its actual inherent value, so that's not the most useful point of comparison.detritus
- especially amateur, free analysis on qbn! this is not financial advice, ppl!sarahfailin
- detritus, that's precisely my point. there's nothing underpinning BTC's value other than the belief that it has / will have value.sarahfailin
- therefore predictions are almost meaningless. even with research.monospaced
- Krassy2
One thing crypto enthusiasts are excited about is that the government stays out of it all.
Question: well, what if the government decides (if they aren't already doing it!) to mine crypto? The US has the most powerful machine with computing power of 200 petaflops (200 million billion calculations a second)
QBN crypto experts, shine some light here
- well, nothing, really. all cryptos are finite. once it's all mined, nothing new or special happens. almost all the BTC has been mined, the rest will take years.sarahfailin
- so how do we know the government hasn't mined most of it, or, that it won't?Krassy
- they have some bitcoins seized from drug mafia, half of which they solddrgs
- why would it matter if the govt mined most of it as compared to private ppl?sarahfailin
- cause then the govt has control of it WHEN/IF it actually becomes "currency"Krassy
- ^if that were to happen, about 75% of the banking sector's services would no longer be necessary. and they would never let the us govt do that. it'd be cool thosarahfailin
- ^ but the government would then control the currency A LOT more than banks would. So that'd be even worse, no? ;-)Krassy
- whether it'd be good or bad for the US govt to control our currency more or less than it does now is a big topic. too much for little comments.sarahfailin
- sarahfailin0
so, ye skeptics, as SOON as we crossed the green line, bitcoin's vague downward movement turned into a freefall, and it slooped right down until we hit the cyan line from our longer term wedge, where you can see it has found momentary support.will the wedge ledge hold? I don't think so! BTC has got no bounce. it looks like it could fall straight through in the next short period, anywhere from now until 3 days from now.
- looks like it opted for 'now'sarahfailin
- lol so cutemonospaced
- someone wants your cheap bitcoins, itll bounce up
... or notdrgs - It could have a ways to go. It just found some support at 6800, but I think 6800 will break and we'll see 5k or so...sarahfailin
- It fell too fast and no bounce. Doesn't look good. ...unless you have a short position opensarahfailin
- I dont really trade BTC/USD. I'm bullish about BTC long term, I trade alts to maximize BTC, as for BTC its not going anywhere.drgs
- https://i.imgur.com/…drgs
- nudes-2
- same samenudes
- AAPL isn’t the same in any waymonospaced
- Bitcoin fell 10% and Apple only dropped a fraction of 1% and made most of it back.monospaced
- Buy the dipdrgs
- 1-month charts for each: complete opposites.
https://i.imgur.com/…
https://i.imgur.com/…monospaced
- chukkaphob2
$6,752.19
$1,000 drop in value in past 24hrs
ouch.
- nudes0
Bitcoin, Futures and Cartel
- shapesalad0
New ICO coming soon:
nioctib
~ it aims to move in the opposite direction of bitcoin...
- https://i.imgur.com/…DRIFTMONKEY
- lol ... this is funny. There's like 100,000 ICO and they're all shitBennn
- damn, if michael jordan is telling you to do it you know it's serioussarahfailin
- nudes0
if you where to buy some coins today, what would you buy?
- Hobo nickels.DRIFTMONKEY
- quarters. for laundry or video games.capn_ron
- Dont abuy any. Its all shit.Bennn
- PoopCoindbloc
- i would not buy any coins today. buy some in a monthsarahfailin
- Sold QKC at 275 (bought at 190), some whales bought up 1000 btc worth of it as it was going down, could be similar to ONT, can go to 400+, but too risky nowdrgs
- NEX is a token w/ a lot of buzz around it. a decentralized exchange based on Neon, aka the chinese ethereum. could be big!sarahfailin
- watch for volume, if you see 100-200 btc buy walls at 10 satoshi intervals, and these buy walls are actually being eaten, something is bound to happendrgs
- Dogecoin!!!pango
- titcoin!!!chukkaphob
- The ones that have chocolate in them...see_thru
- QBNcoinGuyFawkes
- gold coinsmilfhunter
- Pot CoinOP31
- sarahfailin0
I read an interesting theory about the pattern we're seeing in BTC price and what it means for the middle term future.
What it seems we have seen is a downward breakout from a symmetrical triangle (aka the cyan wedge). How far we'll drop from the breakout can be predicted as approximately the height of the triangle at its widest part. The widest part of the wedge could be ~$6,000 (a huge goddamn drop, here the magenta line). BUT because that formation is drawn on only two little candlestick wicks at the bottom, the stronger triangle shape may be the purple line, equaling a mere $5,000 (omg still a huge fucking drop).Seems crazy to me, but there's evidence to corroborate this prediction. You can see examples of stocks moving in this way and and an explanation for how this pattern works here:
- There’s evidence to corroborate any prediction. Really you should stop listening to these guys considering they completely negate their own predictions daily.monospaced
- thanks mono for contributing!sarahfailin
- Hahahahaha!monospaced
- chukkaphob3
Bitcoin price plunges after cryptocurrency exchange is hacked - Security fears rise as South Korea’s Coincheck loses about £28m of virtual currency
https://www.theguardian.com/tech…
- Thank Gawd I sold mine!utopian
- Don't worry, Trump is on the case!utopian
- lolchukkaphob
- chukkaphob2
$6,546.66
- and more to come! It won't stop til at least 6000sarahfailin
- The three dips are almost perfectly aligned. We've been here twice before, I hope this one is the last onedrgs
- aligned how?sarahfailin
- Same level around 6500drgs
- chukkaphob1
- leave robert downey jr out of thissarahfailin
- you mean Mickey RourkeKrassy
- lol you 2!chukkaphob
- Maaku0
Those that sold when it was 15K must be really happy they did.
- sure, of course ... but when hit that peak and then crashed, people were expecting it to keep going up, and a lot of people decided to #hodl insteadmonospaced
- ^ That was too good to be true. I don't know much about it, but I doubt it'll go back to reach 15K.Maaku
- Living the dream!utopian
- nobody knows, maaku, because its value is at the whim of buyers and sellers and bullshit analysts and emotions and fear and so many other unpredictable variablemonospaced
- sarahfailin0
I know you guys love my predictions, so I've got more for you. The 64,000 question right now is: How low will bitcoin go??
I don't actually think it will go to $2k, despite my previous post. One big reason is that the altcoins and BTC are tied together, and although BTC was moving inside that wedge, the other major coins did not make the same shape.
We're at a new low since April of this year as of today, and when I started writing this post BTC was resting on the support of its historic support level in April, at ~6400. Just this minute it broke through that and is throttling downward! There is no historic support level between this and $5800, meaning BTC will see another 9 percent drop today, and find support probably between 5800 and 5900, where it found support back in November 2017. Will that be the bottom??
Well this break is particularly hairy for BTC, because we've also broken the long-term uptrend for BTC. This uptrend is what caught us back in April, and no matter how you draw the trendline going back to early 2017 or before, we are dipping below. So it's a very meaningful break.
The next historic place of support after 5800 is 5400, and then below that there's nothing until we reach 4000. I'm expecting falls until 58XX, and then I'll be watching closely. We could see a bounce up followed by more falls. Since I'm making predictions, I'll say by August 1st I think we'll be back in a bull market.
- "Seems crazy to me, but there's evidence to corroborate this prediction."monospaced
- yep. that is what i said. one can take into account multiple perspectives when assessing a situation. in fact it's a good idea.sarahfailin
- like I've been saying, you can find any number of analysts making ANY prediction that makes your balls tingle at any given moment ... "multiple perspectives" LOLmonospaced
- your perspective on the dubiousness of TA is not without merit. but TA does have some value. here's an interesting article on it:sarahfailin
- https://www.irishtim…sarahfailin
- Ummmm ... charting stocks is a lot more reliable for embarrassingly obvious reasons. This bitcoin stuff is absolutely NOT TA and not comparable.monospaced
- If bitcoin were a legit company, with product and employees, prospectus and a board, then it would be subject to actual analysis ... but it’s not.monospaced
- You can’t apply real TA to bitcoin ... its more comparable to a classic bubble, like the tulips or beanie babies ... at the whim of he market and feelz. Sorry.monospaced
- you're entitled to your opinion mono :) given that bitcoin *has no fundamentals* other than media coverage, blockchain integrity, and usefulness of the coin...sarahfailin
- ...i'd argue that TA has outsize importance for it compared to companies, because the chart is really all you have to go on other than headlines.sarahfailin
- You’re so cute. Have you ever traded anything long term before?monospaced
- You don’t see the connection between headlines and the ever changing charts? Mine isn’t only “opinion” it’s just the truth. Sorry to burst your bubble again.monospaced
- no need to belittle me mono, i'll talk to you with respect, even if you don't do me the same ;) but no, this is my first foray into market tradingsarahfailin
- I do respect you. But you’re taking about an intangible that has a short history and a 1 year chart that shows a classic bubble pop.monospaced
- There are no “historics” beyond a 1000% pop last year. That’s why all this analysis is so cute, especially talk of a bull run. It’s only happened once!monospaced
- it's actually happened about 10 times. the price of a bitcoin started at $.008. Since then it's peaked and fallen just like now many times.sarahfailin
- *$0.08, not $.008sarahfailin
- Not really. Nothing like last year.monospaced
- I’ve seen the chart. It’s batantly obvious what has happened. :)monospaced
- time will tell if BTC rallies again above $10k. How low do you think the price will go then in the next year?sarahfailin
- I have no clue. If you understand anything I’m saying it’s that it’s not logical to predict the price.monospaced
- It depends on how many whales decide to bail out now or buy cheap. Nobody actually knows. And then of course there are the stragglers, who scramble to keep up.monospaced
- But without an actual intrinsic value, it’s nothjng more than Monopoly money with a price attached.monospaced
