Cryptocurrency mega-thread

[faible]

Wasn't meant to be taken seriously.

Not so easy to tell at times, twitter crypto analysis is sketchy at the best of times.

 

[BACCS]

 

[Evolved1]

A lot of people sitting in cash waiting for further dumps. Would be a shame if we go up from here.

 

[Ghost Patrol]

A lot of people sitting in cash waiting for further dumps. Would be a shame if we go up from here.

Did you miss the dip?

I'm thinking it will sideways for a day or two

 

[BACCS]

Did you miss the dip?

I'm thinking it will sideways for a day or two

It has been going sideways for the past week

 

[maryjames]

Ok guys it must be buy time.

 

[BACCS]

Given there has been quite a few pumps and dips the last week or so following the major crash, there appears to be a bottom resistance mark setting in where buyers are outweighing sellers:
BTC: 30-34k USD
ETH: 3k AUD
ADA: 1.80 AUD
DOT: 26 AUD
LUNA: 7.50 AUD

 

[bzparkes]

Ok guys it must be buy time.

View attachment 1142762

Yes, Wyckoff method and institutional/whale buying indicates that this'll start to pump again.

I mean, the char patterns almost identical to that smaller bump at the bottom:

 

[BACCS]

 

[BACCS]

Was not expecting to wake up to a sea of green...

 

[maryjames]

A lot of people sitting in cash waiting for further dumps. Would be a shame if we go up from here.

Yep no doubts. Plenty of text coming through last week where people are selling shit scared etc. newbies though. (Last 3 to 5 months in the game).
I sold 10% of my shit coins in the last week. Held my top 7 coins. Realising I bought so low and prob never sell unless see a huge blow off top. Let’s face it in 5 to 10 years time the prices will be ridiculous.
People need to invest like they bought a house. Hold it.

10% into my trading pond. Waits til next dip. Hopefully not for another 2 or 3 weeks.

 

[BACCS]

According to market data on Glassnode models, BTC is currently valued at 34% of where it should be at this point in time. The only time in history that it was this low was in mid 2017, just prior to pumping to ATHs.

 

[BACCS]

 

[BACCS]

https://alternative.me/crypto/fear-and-greed-index/
This is good index to watch (has doubled in the last couple of days, got as low as 10). Historically, the top of a cycle will be well into the 'Greed' area and stay there for a while as the price drops as new retailers FOMO into the market. This is not what happened after the May 19 crash, it dropped dramatically into the 'Fear' area quite quickly.

There are way too many market indicators of consumer behaviour that are extremely bullish and indicate this bear market is short term, the prices are starting to react positively to this as well (ableit this will still take time).

 

[Shupe]

Given there has been quite a few pumps and dips the last week or so following the major crash, there appears to be a bottom resistance mark setting in where buyers are outweighing sellers:
BTC: 30-34k USD
ETH: 3k AUD
ADA: 1.80 AUD
DOT: 26 AUD
LUNA: 7.50 AUD

Why flip flop between USD and AUD?

Let's just stick to USD to avoid confusion! Haha

 

[BACCS]

Why flip flop between USD and AUD?

Let's just stick to USD to avoid confusion! Haha

Haha I only quoted BTC in USD as the majority of analysts use this currency and it's the most talked about crypto, in hindsight I should've just stuck to one though! For anyone interested, divide all the above numbers by approx. 1.3 to get the USD price.

 

[Evolved1]

Did you miss the dip?

I'm thinking it will sideways for a day or two

I'm trying not to overtrade. This could crab around for a week

 

[Evolved1]

What do you guys think about the pi cycle indicator? It seems to have marked the top fairly accurately.

 

[maryjames]

What do you guys think about the pi cycle indicator? It seems to have marked the top fairly accurately.

Yep saw it when happened. Youtuber Steve was all over it. Ethereum went up to all time highs few weeks later then the big crash. But part of me thinks we will be in slow times for months on end then another bull run continues later in year and next year. No way is crypto going to continue to be the same and predictable long term as most “experts” say.

If I’m wrong I’m wrong.. I’m not Selling either way my strong holds. . but will buy more when I think it’s really low. Especially Ethereum and link. And be watching others closely. Internet computer hopefully keeps going lower.

I really think everyone should have a long term game plan in this crypto.

Time goes so fast these days.. It works if buy the right coins. Not pump and dumps which retail Fap over. But then again they could explode in the bull run. Then sell.

 

[BACCS]

What do you guys think about the pi cycle indicator? It seems to have marked the top fairly accurately.

It’s the only indicator that’s showing we have reached the top for this cycle, but I think it was 2013 where we got two pi cycle tops, so there is precedent. I personally believe the amount of market indicator data that we now have is a better representation of consumer behavior, and that all points to a bull cycle resuming soon.

After the crash, the majority of accumulation is coming from miners and long term hodlers, while selling is being largely driven by short term retail investors. Most of these sellers are selling at a loss too. It seems like over the last couple of days we are reaching a saturation point whereby selling isn’t have a huge impact on price anymore and buyers are starting to get traction in driving the prices up.

Market Cipher data is also starting to show a positive inflow of money into crypto for the first time since the crash too.

 

[Evolved1]

Yep saw it when happened. Youtuber Steve was all over it. Ethereum went up to all time highs few weeks later then the big crash. But part of me thinks we will be in slow times for months on end then another bull run continues later in year and next year. No way is crypto going to continue to be the same and predictable long term as most “experts” say.

If I’m wrong I’m wrong.. I’m not Selling either way my strong holds. . but will buy more when I think it’s really low. Especially Ethereum and link. And be watching others closely. Internet computer hopefully keeps going lower.

I really think everyone should have a long term game plan in this crypto.

Time goes so fast these days.. It works if buy the right coins. Not pump and dumps which retail Fap over. But then again they could explode in the bull run. Then sell.

Same thing happened during the last bull run. Bitcoin cooled off after a pi cycle top while ethereum/alts pumped. The monthly ethereum chart shows a blow off top in May with reversal candle.

It will be a massive letdown if 65k is the best we get for this cycle. Lot's of mixed signals in the market.

 

[maryjames]

Same thing happened during the last bull run. Bitcoin cooled off after a pi cycle top while ethereum/alts pumped. The monthly ethereum chart shows a blow off top in May with reversal candle.

It will be a massive letdown if 65k is the best we get for this cycle. Lot's of mixed signals in the market.

3x bitcoin from last top. Dam.

19x in 2017.

Big difference

 

[BACCS]

3x bitcoin from last top. Dam.

19x in 2017.

Big difference

Which makes no sense at all. I just feel like this is gearing towards a cycle where the alts reach ATHs before BTC, hopefully allowing us to move profits into BTC while it pumps to an ATH afterwards. Call me a dreamer, but I’m a long term hodler anyway so these fluctuations don’t phase me.

 

[maryjames]

Which makes no sense at all. I just feel like this is gearing towards a cycle where the alts reach ATHs before BTC, hopefully allowing us to move profits into BTC while it pumps to an ATH afterwards. Call me a dreamer, but I’m a long term hodler anyway so these fluctuations don’t phase me.

When you say us.. lol the billionaires dictate this market. It’s there play ground.

 

[BACCS]

What is your gut telling you Evolved1, maryjames, Shupe and Bostonian about the potential for a 2nd peak within the next 12 months?