Cryptocurrency mega-thread

[Evolved1]

I’m still bull but am suspicious. Important few months coming up. Either way.

This feels a lot like 2018 to me. Lower macro high in, now we're getting Bart patterns.

Until proven otherwise this is where I think we're at in this part of the cycle:

 

[maryjames]

This feels a lot like 2018 to me. Lower macro high in, now we're getting Bart patterns.

Until proven otherwise this is where I think we're at in this part of the cycle:

View attachment 1249292

Yeah but piss weak bull run if that’s the end. The others were way stronger than this.

For me I’m relying on the longer circle theory. I’m sticking to it.

 

[The Dice Man]

This on-chain data looks bearish to me. Whales cashed out at 50-60k. Any thoughts?

View attachment 1249259

Maybe they(whales/institutions) cashed out above 50 to drop the market and rebuy at below 40k, expecting a dreary september. Would explain the massive orders under 40k.

 

[Evolved1]

Maybe they(whales/institutions) cashed out above 50 to drop the market and rebuy at below 40k, expecting a dreary september. Would explain the massive orders under 40k.

There were signs the market was running out of steam above 50k so it's not surprising that smart money sold. Is there evidence they've bought back in with the same volume?

If 40k holds, we have a higher low (vs 29k) which is bullish and a lower high (vs 65k) which is bearish. The bigger picture could be seen as neutral until we see more price action play out.

The low bitcoin dominance concerns me. Crypto markets are fueled by a strong bitcoin, yet nobody wants to buy it above 50k.

 

[BACCS]

Those Bitfinex buy bids just below 40k keep getting thicker. Any positive momentum during our day time seems to be reversed during the US/European trading hours, which would make me guess that the whales with those bids are in those parts of the world.

 

[BACCS]

This on-chain data looks bearish to me. Whales cashed out at 50-60k. Any thoughts?

View attachment 1249259

Have a read through Willy Woo’s content if you’re wanting to understand on-chain analytics. Posting one chart and making a definitive conclusion from it doesn’t make sense with on-chain data, this isn’t just like reading price charts.

For example, reading this chart without then seeing if whales have since continued accumulating, which they are. I thought you also thought on chain data was rubbish?

 

[The Dice Man]

Those Bitfinex buy bids just below 40k keep getting thicker. Any positive momentum during our day time seems to be reversed during the US/European trading hours, which would make me guess that the whales with those bids are in those parts of the world.

I think it's the American market. Have you been watching the DXY?

 

[BACCS]

I think it's the American market. Have you been watching the DXY?

I think you’re right. Getting decent momentum towards the higher points of the range again during the Asian trading session right now, maybe 3rd time lucky and the US markets continue bullish momentum later today? There’s no major FUD coming out of the US atm, with the only major news out of there a BTC ETF potentially coming in November, which is extremely bullish. What’s driving their bearishness?

I see DXY has just blown past that resistance level at 93.5, interesting…

 

[The Dice Man]

I think you’re right. Getting decent momentum towards the higher points of the range again during the Asian trading session right now, maybe 3rd time lucky and the US markets continue bullish momentum later today? There’s no major FUD coming out of the US atm, with the only major news out of there a BTC ETF potentially coming in November, which is extremely bullish. What’s driving their bearishness?

I see DXY has just blown past that resistance level at 93.5, interesting…

Reading around I think there's fear of a stockmarket crash in the US, Europe too to an extent. The US will probably have to raise their debt ceiling or they will default too, which isn't going to happen. They'll just print more money.

My knowledge is obviously very limited about all this, but I don't understand the rush into USD. Even if there is a crash, in the past BTC recovers quicker, and higher than the stockmarket. One day maybe we will decorate walls with US dollars.

I know I'm not putting anymore extra money into crypto right now, I want to wait for confirmation, and if there is a crash I will dollar cost down and recoup what I've already invested in the future.

 

[BACCS]

Hmmmm, must just be a coincidence that when Bitfinex goes down that all of a sudden nearly 30% of the daily gains are wiped from the market…

 

[The Dice Man]

Hmmmm, must just be a coincidence that when Bitfinex goes down that all of a sudden nearly 30% of the daily gains are wiped from the market…

Binance were down for around 2 hours this time yesterday too, but that was a planned upgrade.

That 30% started around 9am Paris time.

 

[BACCS]

Binance were down for around 2 hours this time yesterday too, but that was a planned upgrade.

That 30% started around 9am Paris time.

It did start a bit earlier than the outage, but a lot was wiped post the outage. They’re getting a lot of the China volume from Huobi flocking there too.

 

[BACCS]

Prices start to retrace as the US starts to wake up, like clock work this week

 

[Pancakes]

Well September has been a disaster.

Wonder what October will hold, will it be Rocketober, or will we face this beast.

The OctoBear

 

[Ghost Patrol]

September was ok for me, mostly sideways, slightly up.

Hardly a disaster.

 

[The Dice Man]

September was ok for me, mostly sideways, slightly up.

Hardly a disaster.

For me, having started buying late May and early June, July and August were starting to show some gains but September stopped that. September has probably seen me lose around 10% so not too bad. The fact BTC is still above 43k this afternoon(touch wood) is very pleasing after the last couple of weeks.

I'm pretty bullish, but I re-organised my portfolio that if it dumped, most of my coins would bounce back. I have a couple hundred in small cap - high risk that wouldn't hurt me if they disappeared.

IF BTC reaches and holds 46k in the next few days, would be interesting to see what happens with all those sub 40k buy orders. Maybe they FOMO in.

 

[The Dice Man]

Columbus 5 trying to pump Luna tonight.

Terra ecosystem about to explode?

 

[Evolved1]

Interesting that crypto is pumping while stocks dump.

 

[The Dice Man]

Interesting that crypto is pumping while stocks dump.

The real flippening.

 

[Evolved1]

The real flippening.

Let the good times roll.

 

[brendan84]

Tune in for this

 

[The Dice Man]

Au revoir 40k.

 

[ash_1050]

 

[BACCS]

Nice way to start the long weekend

 

[maryjames]

welcome to October.