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Cryptocurrency mega-thread

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Evolved1 said:
Elon generally tweets when BTC is at resistance, and the market generally rejects from resistance in a bear market anyway. His tweets have high impact on the price action of low volume shitcoins because there's no volume.
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I wasn't saying that it only responded to Musk tweets, just that there's a number of entirely irrational or unpredictable reasons the crypto market moves regardless of how much research your average punter has done.
 
I have no idea what’s going on with the hourly since about this time yesterday, the RSI and BB% has shown an oversold signal since then. Volume is relatively quite low which could be giving mixed signals, but the market is just being weird.
 
Evolved1 said:
I can't shake the 2018 vibes this market is giving tbh. A capitulation below 30k wouldn't surprise me.

Neutral zone to me is daily closing between 29k and 35k. Above that, we're probably going to 40k. Below that, 18-25k is likely.
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What we are seeing now is also giving off very similar trends to that late last year before the major leg of the bull run started. Until we capitulate out of the range, I’m still bullish for this year.
 
BitBoy let slip this morning on his live stream that the info he is being fed is from someone he knows at Wells Fargo. The price barriers they’re attempting to make sure BTC and ETH don’t fall below are 32K and 1800K, before the big push up in the next couple of weeks to start the bull run again. Won’t take too long to know if this info is wrong or correct.
 

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BACCS said:
BitBoy let slip this morning on his live stream that the info he is being fed is from someone he knows at Wells Fargo. The price barriers they’re attempting to make sure BTC and ETH don’t fall below are 32K and 1800K, before the big push up in the next couple of weeks to start the bull run again. Won’t take too long to know if this info is wrong or correct.
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BB is a tool.

He probably knows the cleaner at Wells Fargo.

BTC has dropped below 32k
 
I don't see how anyone can be bullish in the short term here.

Happy to be proven wrong but I think we are going one more move lower into mid-20k. If we roll over into mid-20k, and it pauses there (like it did when it dropped from 60k to 30k), that would be a big problem and cause me to be very bearish for the rest of the year. A fast v-shaped recovery back to above 30k wouldn't be a bad thing though and would cause me to be fairly bullish again thinking that the bottom is in.

Another possible but less likely scenario that bulls want to see is if we continue to trend sideways for another 2-4 weeks due to there being enough buy-side support to ensure we don't roll over. That would be bullish and would cause me to think that a leg up is coming sooner than we think.
 
LongBombFromOutside50 said:
I don't see how anyone can be bullish in the short term here.

Happy to be proven wrong but I think we are going one more move lower into mid-20k. If we roll over into mid-20k, and it pauses there (like it did when it dropped from 60k to 30k), that would be a big problem and cause me to be very bearish for the rest of the year. A fast v-shaped recovery back to above 30k wouldn't be a bad thing though and would cause me to be fairly bullish again thinking that the bottom is in.

Another possible but less likely scenario that bulls want to see is if we continue to trend sideways for another 2-4 weeks due to there being enough buy-side support to ensure we don't roll over. That would be bullish and would cause me to think that a leg up is coming sooner than we think.
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Retail sentiment is shit right now, no hiding from that. However, the start of a cycle is driven by the big money, they couldn’t care less about retail sentiment. Watch the sentiment immediately pickup once people start seeing consistent green again. The amount of BTC and ETH being moved off exchanges does not coincide with a sell off that could trigger any major drops from here, it coincides with the start of a bull run once the big players start buying again. Anyway, don’t have to wait much longer to see what predictions are right.
 
Bostonian said:
Because he'll shill any coin for anyone who throws money his way.

He should change his name to RentBoy.
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Yeah right, and doesn’t hide that fact. Doesn’t promote memecoins either. Is there anything wrong with advertising a new crypto? He’s not telling his audience to go all in on them and also releases videos to help new people to the market so they don’t make the same mistakes many have made.

He’s also not holding a gun to your head to make sure you invest, I very rarely watch any of the videos shilling new coins as I won’t be investing in them. I personally watch his channel for news and the different perspectives on Around the Blockchain, you’re barking up the wrong tree if you’re going there for serious TA. Anyway, given he’s been involved in Bitcoin since 2012 I would suggest that he has a far greater level of understanding of crypto than the average investor. I watch a number of channels and do my own research because I respect the opinion of people with more experience in the market and investing.
 

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Shupe said:
I also find Bitboy unbearable and I don't think he's really in it to help anybody but himself.
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Aren’t we all technically in this for ourselves? The advice people provide is just that, no one is forcing you to act on it.
 
BACCS said:
Aren’t we all technically in this for ourselves? The advice people provide is just that, no one is forcing you to act on it.
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Being an 'influencer' comes with a certain level of responsibility. Of course he's not making me do anything - that's a weak argument.
 
BTC nudging the lower Bollinger Band on the daily chart and width is as low as it has been in 6 months, some shit is about to go down
 

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Shupe said:
Being an 'influencer' comes with a certain level of responsibility. Of course he's not making me do anything - that's a weak argument.
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His level of responsibility is to say that’s he not a financial advisor (which is always disclosed), to do your own research as well and he isn’t promoting projects in it for a pump and dump. What other responsibility does he have? All his daily show does is talk about the news of the day, which of course he provides his opinion on and he balances this out by getting other perspectives on Around the Blockchain. I don’t understand the level of hate he has compared to other crypto influencers, it just seems out of proportion to me.
 
BACCS said:
Yeah right, and doesn’t hide that fact. Doesn’t promote memecoins either. Is there anything wrong with advertising a new crypto? He’s not telling his audience to go all in on them and also releases videos to help new people to the market so they don’t make the same mistakes many have made.

He’s also not holding a gun to your head to make sure you invest, I very rarely watch any of the videos shilling new coins as I won’t be investing in them. I personally watch his channel for news and the different perspectives on Around the Blockchain, you’re barking up the wrong tree if you’re going there for serious TA. Anyway, given he’s been involved in Bitcoin since 2012 I would suggest that he has a far greater level of understanding of crypto than the average investor. I watch a number of channels and do my own research because I respect the opinion of people with more experience in the market and investing.
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I knew a bloke who played football for 20 years, does't mean he was any good at it.
 

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