Dnk Posted May 21, 2021 Share Posted May 21, 2021 (edited) Crash part two by the look of it. Will there be a part three ? need a crystal ball with this lot. To buy or not to buy that is the question Edited May 21, 2021 by Dnk (see edit history) Quote Link to comment Share on other sites More sharing options...
Marty Posted May 21, 2021 Share Posted May 21, 2021 (edited) We're still in a downtrend as you can see from the chart. https://www.tradingview.com/x/O6zGyxZj/ Technically speaking, anywhere in the the blue area is a good place to buy should you believe the bull market continues, it's full of support areas (dashed lines). Personally i think it's time for a short squeeze soon, the bears have had it too easy as of late, time to liquidate late shorters. The black line with a red circle is critical point for me, it's a long term uptrend, i'd like to see btc retake that. Not a time for alts btw, safest to be in btc. Market dominance was near all time low earlier this week, it's time for btc to reclaim some of that back. As bad as it currently looks, i still think we see $200k by December, not joking - assuming this isn't the end of the bull. I don't think this price action is completely organic, too much fudding going on. I'm short term neutral and mid term bull. Edited May 22, 2021 by Marty (see edit history) 1 Quote Link to comment Share on other sites More sharing options...
Dnk Posted May 23, 2021 Share Posted May 23, 2021 On 5/21/2021 at 7:40 PM, Marty said: We're still in a downtrend as you can see from the chart. https://www.tradingview.com/x/O6zGyxZj/ Technically speaking, anywhere in the the blue area is a good place to buy should you believe the bull market continues, it's full of support areas (dashed lines). Personally i think it's time for a short squeeze soon, the bears have had it too easy as of late, time to liquidate late shorters. The black line with a red circle is critical point for me, it's a long term uptrend, i'd like to see btc retake that. Not a time for alts btw, safest to be in btc. Market dominance was near all time low earlier this week, it's time for btc to reclaim some of that back. As bad as it currently looks, i still think we see $200k by December, not joking - assuming this isn't the end of the bull. I don't think this price action is completely organic, too much fudding going on. I'm short term neutral and mid term bull. Will we see BTC sub $30k again Quote Link to comment Share on other sites More sharing options...
rider Posted May 23, 2021 Share Posted May 23, 2021 You'll see BTC wiped out in but a few years. The enviro crowd will force that and the National Governments will say thank you and be only to happy to kill it. With National reserves touted as evolving into crypto currency speculators themselves 'investors' will finally have access to crypto currencies that will have a foundation of Mr and Mrs tax payer and be a safe haven for investors leaving the unregulated crypto currencies to become a harassed increasingly enforced space catering almost exclusively to the criminal fraternity at the fringes of legality. 1 Quote Link to comment Share on other sites More sharing options...
Style Posted May 24, 2021 Share Posted May 24, 2021 On 5/21/2021 at 7:40 PM, Marty said: We're still in a downtrend as you can see from the chart. https://www.tradingview.com/x/O6zGyxZj/ Technically speaking, anywhere in the the blue area is a good place to buy should you believe the bull market continues, it's full of support areas (dashed lines). Personally i think it's time for a short squeeze soon, the bears have had it too easy as of late, time to liquidate late shorters. The black line with a red circle is critical point for me, it's a long term uptrend, i'd like to see btc retake that. Not a time for alts btw, safest to be in btc. Market dominance was near all time low earlier this week, it's time for btc to reclaim some of that back. As bad as it currently looks, i still think we see $200k by December, not joking - assuming this isn't the end of the bull. I don't think this price action is completely organic, too much fudding going on. I'm short term neutral and mid term bull. I think we need to re-take the bull market support band very quickly if we're to put in a cycle top this year. Ideally before the support band rounds and starts to move down itself. I'm leaning towards that not happening and stretching this cycle into next year with a consolidation phase coming up for BTC. If that does happen then I'd say $200k is on the cards, but if we top out this year I think we'll be closer to $100k based on diminished ROI theory. Quote Link to comment Share on other sites More sharing options...
rider Posted May 24, 2021 Share Posted May 24, 2021 22 minutes ago, Style said: If that does happen then I'd say $200k is on the cards, but if we top out this year I think we'll be closer to $100k based on diminished ROI theory. Nothing better than a happy speculator. Just to give some support to my comments, the last time I interjected in this thread was December 2017 to suggest or warn there was a serious correction about to happen because the investment patterns occurring at that time were obviously unsustainable. Lets sit back and see if the effective banning of BTC does occur, i cannot see that a currency that consumes more electricity than 5mn people in Ireland is going to be allowed to continue. Your $200k Bitcoin would probably encourage mining electricity consumption worthy of 100mn people. How monumentally stupid would that be? Quote Link to comment Share on other sites More sharing options...
Style Posted May 24, 2021 Share Posted May 24, 2021 51 minutes ago, rider said: Nothing better than a happy speculator. Just to give some support to my comments, the last time I interjected in this thread was December 2017 to suggest or warn there was a serious correction about to happen because the investment patterns occurring at that time were obviously unsustainable. Lets sit back and see if the effective banning of BTC does occur, i cannot see that a currency that consumes more electricity than 5mn people in Ireland is going to be allowed to continue. Your $200k Bitcoin would probably encourage mining electricity consumption worthy of 100mn people. How monumentally stupid would that be? My "speculator" approach is based on historical data that runs back nearly a decade now. The same historical data that sided with you in December 2017 when you suggested a large drop was about to take place. You think the increase in Supra prices have been fun? Try investing in cryptocurrencies when this speculation tells you to do so. And just FYI, Bitcoin has been largely declared dead 415 times now since it's inception. https://99bitcoins.com/bitcoin-obituaries/ Since when have problems such as excess power usage ever stopped the rich and powerful from increasing their wealth whilst turning a blind eye? A lot of them are entering the market now or have been in for a while. I agree it's a problem that needs addressing, and will probably benefit from the efforts around it by naturally becoming greener, but in a decentralized world...who cares? Quote Link to comment Share on other sites More sharing options...
Marty Posted May 24, 2021 Share Posted May 24, 2021 We can have these power consumption arguments forever, the focus has been on china and how some miners are using coal fired power stations, however a lot of these articles you read are intended to FUD, 70% of miners actually use renewables. And then you have the comparisons against other 'assets'; take gold for example, if btc consumes the same power as ireland then gold mining consumes the same power as poland. Not to mention the environmental damage, did you know the production of one gold ring produces 20tonnes of toxic waste? Gold mining has also caused a 6 fold increase in the destruction of the rainforests. Gold is useful though, right? Could make the same argument with bitcoin, a trustless asset, not controlled by any single entity. The banking system uses 5x the energy bitcoin does too, all they do is print money, constant inflation. The bitcoin supply is fixed. Whilst a country may 'ban' the mining or trading of it, bitcoin itself cannot be banned, it's decentralized, that's the point. And the criminals favouring it is a ridiculous notion, fiat currencies are the 'dirtiest' going and always will be, any transaction on the bitcoin network is completely transparent and stored forever on the ledger, not something you'd want if you were up to no good. Anyway, price action. I've also been expecting this since the start of the month, i did say a page back that the price action was eerily similar to jan'18. I don't know where we are going, but the bull market isn't over until a daily close below $27k. I expect a solid dead cat bounce soon, to around $45k. Would be a good spot to exit and then buy back higher if the market confirms bull trend in tact. Personally, i'm still aiming for the end of the year, that's what previous market cycles suggest and history generally repeats, but i am mostly on the sidelines in stables and fiat, day trading only, capital preservation is important when it looks a bit shaky. Quote Link to comment Share on other sites More sharing options...
Marty Posted May 24, 2021 Share Posted May 24, 2021 (edited) Something i knocked up for you bulls.. https://charts.cointrader.pro/snapshot/hmLDv Edited May 24, 2021 by Marty (see edit history) 2 Quote Link to comment Share on other sites More sharing options...
Marty Posted May 24, 2021 Share Posted May 24, 2021 (edited) On 5/21/2021 at 7:40 PM, Marty said: We're still in a downtrend as you can see from the chart. https://www.tradingview.com/x/O6zGyxZj/ Support found on previous weekly close and we've finally broke out the downtrend, a successful retest of fib/breakout and we should continue higher,. Still eying red circle for potential short term top, but there's quite a few resistances in the way, $40k might be tough nut to crack, we'll see what happens as the price action gives more information. I've adjusted my fibs slightly now there's more chart info. If you didn't buy alts y'day when everyone was fearful and selling the bottom then today may not be the best time, most have already bounced 40%+. Alts are only good for v.short term plays atm, btc is safest. https://www.tradingview.com/x/GwBzMqVW/ Edited May 24, 2021 by Marty (see edit history) 1 Quote Link to comment Share on other sites More sharing options...
Style Posted May 25, 2021 Share Posted May 25, 2021 Didn't waste too much time getting up to testing $40k. Let's see where things go today 1 Quote Link to comment Share on other sites More sharing options...
Dnk Posted May 25, 2021 Share Posted May 25, 2021 Get the timing right and Crypto is a wondrous thing 56% in just over a day Quote Link to comment Share on other sites More sharing options...
SPG Posted May 25, 2021 Share Posted May 25, 2021 Bit random I’ll concede, but I usually go onto one of the popular car raffle sites and when I see a car I really like, i don’t buy a ticket. Instead I use the money I was going to potentially waste and buy some Crypto with it. Bit bullish really 2 Quote Link to comment Share on other sites More sharing options...
Dnk Posted May 26, 2021 Share Posted May 26, 2021 (edited) 22 hours ago, SPG said: Bit random I’ll concede, but I usually go onto one of the popular car raffle sites and when I see a car I really like, i don’t buy a ticket. Instead I use the money I was going to potentially waste and buy some Crypto with it. Bit bullish really I closed an ISA that was earning sweat FA and to date now I'm used to the volatility and how this works I'm so glad I did. Edited May 26, 2021 by Dnk (see edit history) Quote Link to comment Share on other sites More sharing options...
Style Posted May 27, 2021 Share Posted May 27, 2021 Early days yet, but a potential Death Cross incoming which would likely suggest a phase of sideways movement. It could of course change but worth noting if anyone's looking to move positions relative to where the market may be going. If these 2 lines do cross, I reckon we're in for a period of very little price action. If things shift and we don't see this cross, we might start an earlier push to $100k...maybe even this year Quote Link to comment Share on other sites More sharing options...
mplavery Posted May 27, 2021 Share Posted May 27, 2021 This has always been in the back of my mind to do, im a newbie to all of this but have just started on Coinbase for a bit of fun and just to see what happens. I know im late doing this really but hey ..seems more fun than buying lotto tickets lol Im slowly learning from YouTube vids / internet and will read all these posts from the beginning to hopefully get more useful information Some of you guys have done brilliantly on this ! 2 Quote Link to comment Share on other sites More sharing options...
jim_supra Posted May 27, 2021 Share Posted May 27, 2021 I really backed out at the wrong time on this, i cashed in at the middle of October last year as needed to free up funds for car and a baby on the way, only making a small profit in doing so. I cashed in my 7 Ethereum coins and 14 Litcoin for 2.5k and even with today's prices it would be nearly 16k now! Having said that, would i have had the nerve to hold out until it's peak (26k)? I don't know. Quote Link to comment Share on other sites More sharing options...
Dnk Posted May 27, 2021 Share Posted May 27, 2021 2 hours ago, mplavery said: This has always been in the back of my mind to do, im a newbie to all of this but have just started on Coinbase for a bit of fun and just to see what happens. I know im late doing this really but hey ..seems more fun than buying lotto tickets lol Im slowly learning from YouTube vids / internet and will read all these posts from the beginning to hopefully get more useful information Some of you guys have done brilliantly on this ! Good luck Quote Link to comment Share on other sites More sharing options...
stevie_b Posted May 27, 2021 Share Posted May 27, 2021 9 hours ago, Style said: Early days yet, but a potential Death Cross incoming which would likely suggest a phase of sideways movement. It could of course change but worth noting if anyone's looking to move positions relative to where the market may be going. If these 2 lines do cross, I reckon we're in for a period of very little price action. If things shift and we don't see this cross, we might start an earlier push to $100k...maybe even this year Wouldn't a death cross indicate a sell-off rather than a sideways movement? Quote Link to comment Share on other sites More sharing options...
Style Posted May 28, 2021 Share Posted May 28, 2021 10 hours ago, stevie_b said: Wouldn't a death cross indicate a sell-off rather than a sideways movement? Yes that risk is also there. For me a Death Cross primarily represents Bitcoin exiting price discovery mode in the near future, leaving you with either sideways movement or your sell offs and major transition into a bear market. I don't believe this cycle has ended yet as we've shown some strong support and market tops have basically free fallen in the past. So I'm leaning a lot further towards an accumulation phase. To some it may look like a short bear market too as 60% drops aren't unheard of before ramping back up again. Baring in mind I'm of the mid to long term holding stance...I couldn't day trade for my life! 1 Quote Link to comment Share on other sites More sharing options...
Krimi Posted May 28, 2021 Share Posted May 28, 2021 Hi guys! Also me newbie in this topic, but I’ve invest in crypto for the last 8 months with a good profit! Great information that I’ve read here, so I join to your group!! Next weeks are decisive! 3 Quote Link to comment Share on other sites More sharing options...
Dnk Posted May 29, 2021 Share Posted May 29, 2021 (edited) On 5/28/2021 at 11:24 PM, Krimi said: Hi guys! Also me newbie in this topic, but I’ve invest in crypto for the last 8 months with a good profit! Great information that I’ve read here, so I join to your group!! Next weeks are decisive! Nice to hear you've made money Edited May 30, 2021 by Dnk (see edit history) Quote Link to comment Share on other sites More sharing options...
Dnk Posted June 2, 2021 Share Posted June 2, 2021 Can anyone see Bitcoin breaking its ATH and then onto and beyond £100k ? Quote Link to comment Share on other sites More sharing options...
Style Posted June 3, 2021 Share Posted June 3, 2021 Before the next halving, yes. This year...on the fence 1 Quote Link to comment Share on other sites More sharing options...
Krimi Posted June 4, 2021 Share Posted June 4, 2021 Crazy day after Elon’s Twit, when the government are going to point to this guy for manipulating the market??? Crazy, days like today, for me means that the 90% of people inside this market are weak hands and rookies in investments, just speculators, or casino addicted people that thinks Crypto its the way to the private jet lifestyle. Today after some stop loss that I have set I lost 2.4% of my wallet, but some good intraday trades that equilibrate my numbers. #F*ckElon hahahahaha Quote Link to comment Share on other sites More sharing options...
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