Just need to get to 45k hold it then it’s game on.
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Cryptocurrency mega-thread
- Thread starter DapperJong
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- Sep 17, 2019
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- #9,002
MATIC looks like it might go turbo here
owen87
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- Apr 23, 2016
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I missed 60 cents, but still damn happy with my entry just below 90 cents
- Sep 17, 2019
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I knew you would! There has already been a 40k trap a month ago. Breaking a 6 month downtrend of the daily RSI didn’t happen when 40k was tested a month ago. The 50 week SMA has been reclaimed, but the 20 week (sitting early 40s) is the next resistance level to breach and hold as support. Bears are exhausted mate, on-chain metrics dont lie about the buying volume support between 31-34k. The last 5 dips have had people calling for low 20s, didn’t get close any of these instances. Nothing has changed to support that theory at all.
owen87
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I’m enjoying things being in the green, but don’t feel the need to rush out and buy anything.
Seeing dot link so low in my mind had to add.
Icp crash from 700 to 30. Makes me go let’s go.
- Sep 17, 2019
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- #9,012
FET and POLY listing on coinbase today.
Buy dip.
Buy dip.
- Jun 14, 2013
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They usually dump on coinbase listings don't they?
- Sep 17, 2019
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Ok, buy the dip then.
Didn't expect to see the current run up at all, as I can't see what fundamental changes have occurred that make BTC more attractive today than it was a week ago. My initial statement was that it will hit $25k before it hits $40k, and for the moment I've been proven wrong in that it peaked at $40,368 last night. Still see it trending down though, it will be a short lived run.
The fundamental changes are that institutions are here and they want to see returns on investment. That was institutional volume yesterday, they’re the only ones capable of pumping it that quickly. A volatility breakout was inevitable based on the width of Bollinger Bands. Retesting support levels in the mid 30s is pretty natural market activity, it’s not pumping to 100k overnight. You were confident it was trending down last week and were proven wrong, why will you be right this time when institutions can pump it in an hour? They also don’t want to pump too quickly and then have no one to sell to because retail sentiment is still low, need to increase that retail sentiment gradually and then sell to them when it peaks again.
I think it’s pretty evident yesterday’s pump was to liquidate a lot of short positions out of the market.
So then it's market manipulation.
So why wouldn't they suck more retail in then dump on them again to get back down near 28k again?
I sold a bunch yesterday. The FOMO meant it wasn't going to last long in a market that's still so undecided.
Of course it is. I guess they don’t want to keep repeating that and drive retail away for too long and have no one to sell to later this year.
- Jun 14, 2013
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I don't buy into the market manipulation theory. We pumped from range lows and dumped at range highs. The same thing we've been doing for weeks. You could have made a fortune buying at 32k and selling at 38k over the last two months.
Why would retail all of a sudden pump that hard out of no where then?
It takes a fair bit of money to start a pump like that out of no where.
- Jun 14, 2013
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Bears were too confident and a lot of the pump was shorts being squeezed.
