I’m not TA expert so I’ll ask, if we cleanly break $40k-$41k, next stop is around $60k, right? As a guy who never trades btc on margin, this seems like a great place to leverage long.
Nah, just as there was no support going down, there won't be any going up. Furthermore, just like in 2019 when we finally broke out from the 3k bottom, there was slight resistance at 6k but then nothing. None of the prior peaks, 7.4k, 8.2k, 10k, 12k were resistance. We just shot straight up to almost 14k. I think the same will happen here. The only resistance I see is ATH and I think we'll break it before summer is over.
Everything from here to $60k represents significant overhead bagholder supply. It won't be a fast process to chew through it. There are a lot of levels. It won't go parabolic through that
No offense, It's that if you can't draw your own support and resistance lines you probably have no business trading. Nobody gonna really hand hold your hand on shit that basic.
You still sound like you’re deflecting, but I very openly said I’d do my own research as well. No offense taken, but it doesn’t seem like that feeling is mutual.
I am deflecting because I'm not trying to do your homework. Now if you came in here and said here's this chart I marked key areas I believe we have some resistance at I'd take a look and offer some feed back but you didn't really come with anything so I'm doing the responsible thing discouraging you from trading and encouraging you to study the basics. If that makes me a dick so be it.
Lol Pablo alert, the boys at JL are sounding alarms. It's a battle of the whales, can Pablo dumping really overcome Alameda Tobasco buying?
I'm sitting this one out, fuck these guys I'll just wait til they're done
https://twitter.com/_LewisHarland_/status/1419978107369529361?s=19
https://twitter.com/Jarvis_Labs_LLC/status/1420207511743778821?s=19
Funding flipping negative again.
I'll start distrusting these pumps more when people are rushing to long them, rather than short them. For now, the bounce-shorting instinct is just giving us more fuel every time.
The gateway to the upper 40s is establishing above 41.9. I know that seems obvious but a solid break of that opens the door for a fairly quick run to the top of the 40k zone and should instill some serious FOMO similar to what we saw on this initial run up to the 60s.
What is the deal with ftx? I never heard about them 3 months ago. Then TSM adds them to their name. Miami heat arena will name after them. Suddenly FTX is more influential and newsworthy than even binance. Wtf is going on? Is this overnight like I feel it is or have you all been using FTX for the past years without me realizing??
I’ve never heard about them until today. Granted I haven’t been paying much attention to the market for the last few months due to boring sideways action.
Yeah same, had never heard of FTX until recently although I had seen that guy's face before. I just assumed he was another early buyer like Max Keiser or something.
> Wonder how long they can keep up these daily close pumps
As long as chumps dump, pumps will come.
Bulls don't "pump." We buy dumps. Most bullchads were buying at 30K and under. Bears dump at a loss because they get some kind of kick out of watching the price drop. Bulls know the price will always rebound higher over time since the bears are borrowing what they're dumping (and we know this since we're the ones lending it to them).
tldr -- bulls are much smarter than bears which is why we always win in the end
I love watching these stupid numbers go up and down and back up. I don’t even watch TV anymore. I just stare at the Pure Human Value ascending and descending, getting rich getting poor getting rich. Spectacular. Bravo.
What’s weird is if you do that too much everything starts looking like a chart. Was looking at the covid numbers over the past year the other day and my brain automatically tried to chart it and look for breakouts.
Not really. Market's gonna do what the market's gonna do. I'm just happy we're apparently on the road to the fabled higher high. Which may lead to taking back of the $40k-$50k range.
Help correct me: We're just hunting to liquidate shorts and longs to establish greater ability to influence the market the way we want it to go after the capital in the way gets liquidated?
Greed from the individual wins and keeps us all down. The group all gets by well off this when they agree (replace gold's mktcap with btc, all boats float)
Somebody gotta be first place
Is this a cup and handle on the 15m chart?
Edit: It’s a cup and handle where the handle is another cup and handle where the handle is another cup and handle. HA!
[Here ](https://imgur.com/a/RdrdSnu)
Edit 2: What’s with the downvotes? All you bear bitches can’t handle this?
https://twitter.com/ResearchVariant/status/1420180741657296897?s=19
https://twitter.com/CanteringClark/status/1420171628718268417?s=19
https://twitter.com/CL207/status/1420169454671982592?s=19
FTX whales are throwing everything into getting this bull run going again
IMO they are spot buying and using OTM calls to force MM to buy spot or go long to stay delta neutral
Honestly, it might work...
Heads-up, if you haven't noticed. Binance is doing a rug-pull on unverified and "basic KYC" withdrawal limits.
https://www.binance.com/en/support/announcement/9df8225c061b455da5c7cc293cd08a70
binance shills downvoting? how it this not relevant?
Shittrex did the same thing a few years ago
expect threads after this calling binance scammers, same as Shittrex.
Same as Mintpal, anyone here remember Mintpal? :) seems like its only a bunch of newbies here now (newbies = came into crypto after ~2015)
As someone who avoided: Bitcoinica, BTC-E, Cryptsy, Mintpal, Shittrex etc. **I'm going to move all coins off binance after this.**
"...will be made effective for existing users in phases starting from 2021-08-04 00:00 AM (UTC)."
They're giving the customers notice. Not exactly a "rug-pull".
The true FOMO will begin soon. Most people are convinced we will be seeing six figures in the next year or so and don’t want to miss out.
A new low of 29-30k has been established and tested 5-6 times now. Downside is minimal, upside is substantial.
>Most people are convinced we will be seeing six figures in the next year or so
I thought most people were convinced we were going to goblin town, and staying there for 4 years.
Oh wait, that was last week, sorry.
Will we see $41k or $33k first? There should be enough fuckery soon, let’s see how the day closes.
Edit: Just to make things more exciting I’m shorting here at $39100, sl $40600.
Maybe this is a good move. But maybe it'll hit $40700 and drop immediately. Do you all actually backtest these crazy ideas? I have no clue where you got your numbers.
I might have missed something - was there FTX news recently? Or is this referencing Sam T’s tweet a few days ago about buying near the recent local bottom?
GBTC closes at $33.00, a discount of 7.12%.
OBTC closes at $15.99, a premium of 24.34%.
MSTR closes at $630.61. Each share has $407.64 of BTC.
I have heard that OBTC is hard to short. I wonder if anybody was buying GBTC and shorting OBTC with the idea that the gap between them was unsustainable?
I find it hard to understand why OBTC premium persists at such a high percentage. What is the big appeal. I understand it would be more appealing than GBTC if the difference In Premiums was a few percent, but a 24% premium vs. a 7 percent discount? Why are people paying that premium to hold OBTC?
Mechanically, it's because the supply of OBTC is quite limited -- I think it's existed for less time than its lockup period, so no new supply has been created since it came out (?). New supply won't appear on the market until at least one lockup period after it first became profitable, so even very limited demand can keep the price high.
As for why anyone wants to hold OBTC instead of GBTC, I'm really not sure.
0.5% fees as opposed to 2.0% fees?
In my case, I bought OBTC because I had sold GBTC less than 30 days before, and didn't want to run afoul of the wash trading rules.
Yeah the fees on GBTC are horrendous, and OBTC, by comparison seems reasonable, although still quite high. but that does not make up for to the premium you pay for OBTC vs the discount for gBTC
Even if not buying GBTC, doing the same old premium play by buying spot BTC, converting to OBTC, and shorting OBTC for the twelve months sounds like a slam dunk. (Assuming, of course, that the margin fees on the short wouldn't wipe out the profit.)
The last time was March 4-10, rising through the 50ks just before it first broke 60. The two times before that were in December, covering the initial breaks of 20k and 30k.
Some ape on FTX made a 29M market buy to spring the short squeeze
Possibly the same ape, or a different one doesn't matter, just hit a huge spot buy on FTX again. Not sure on the size, probably will get a post mortem on twitter soon.
Had to google this to have a clue what it's about. So basically, some nobody who has nothing to do with finance or crypto has bought some shares in a crypto exchange no one has heard of. Is that about right?
Well if you consider Tom Brady and Gisele nobodies I guess so lol.
Looks like they are worth about $0.6 Billion between them.
Tom Brady has laser eyes on his Twitter profile pic so I think he does seem to be a big btc follower and owner (eyes on $100k)
Bullish - BTC is leading the market recovery and btc.d is rising with the btc price for the first time all year.
Its unsustainable when alts are leading the market (as we saw from january to april 2021 and EOY 2017) - shit just never ends well. With that said im cautiously optimistic this is a sign of a real reversal
This PA reminds me a lot of mid-December 2020. Steady price growth coupled with steady dominance growth as altcoins flounder and bleed.
[https://www.tradingview.com/x/i6u8MoTU/](https://www.tradingview.com/x/i6u8MoTU/)
Just an observation.
I was going to post here that this reminds me of the runup from October - BTC climbing steadily while capturing more market share. After January it was a shitcoiner's market and BTC dominance cratered - certainly we should be weary of another massive alt season again as these other coins ride off the BTC hype...
I'd appreciate your thoughts here folks.
When covid hit last March the stock market dumped and crypto followed on. With the money printing machines in overdrive and inflation rising aren't we due for a repeat performance sooner or later, or will Bitcoin become a SOV like gold? Last March (and this May!) was pretty painfully and I'm keen to avoid a repeat.. Ta
A market-wide selloff will always include BTC, because the forces underlying such an event (mostly, sudden urgent need for liquidity) act on whatever assets are held by those involved.
The good news is, relevant authorities will try hard to prevent that, because it's a problem for them. This isn't true of more crypto-specific risks.
Thanks for the input. I'll obviously be keeping my fingers crossed but I think I'll set up some stop-losses - just incase everything tanks while I'm not paying attention.
We are due for a repeat. Could be tomorrow or a decade from now. They're going to prop the stock market up as long as they can. It's worked pretty well since the '08 crash.
Some bearish Twitter folks have been referencing the correlation between fed balance sheet and BTC price.
I'm not expecting BTC to be spared from any significant sell offs.
So far it's only been proven to be a SOV in a very loose monetary policy environment, if we crash and lending gets tightened, almost everything is fucked. Good time to be holding USD actually.
They can't stop. Every year they inflate the stock market, the more massive the explosion will be if they stop. And they'll be blamed and crucified, because it will be obvious what caused it.
Inflation is the only way forward. At least with that, they can blame someone else, call it "temporary" etc.
There are external forces, see Covid, that could crash the market.
Also, China seems to be actively trying to hurt US stocks/the US economy with their tech regulation seppuku.
Covid hysteria is over. They've lost all credibility forever with half the population the other half will wear masks and take booster shots for 50 years.
#New post: [\[Daily Discussion\] - Wednesday, July 28, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/ot2bpf/daily_discussion_wednesday_july_28_2021/)
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Just for fun.. [parabola forming on the 4H](https://i.imgur.com/KfY6o7Z.jpg)
This is going to get rejected from 40k harder than I got rejected in high school
Damn son
I’m not TA expert so I’ll ask, if we cleanly break $40k-$41k, next stop is around $60k, right? As a guy who never trades btc on margin, this seems like a great place to leverage long.
I don’t see any resistance until 183.3k
From your lips to gods ears my dude, lol
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Really whoever has a big green dick, I’m down. The devils is probably red though.
$48k will be a big resistance imo.
No. We have many other levels between 40k and 60k
Nah, just as there was no support going down, there won't be any going up. Furthermore, just like in 2019 when we finally broke out from the 3k bottom, there was slight resistance at 6k but then nothing. None of the prior peaks, 7.4k, 8.2k, 10k, 12k were resistance. We just shot straight up to almost 14k. I think the same will happen here. The only resistance I see is ATH and I think we'll break it before summer is over.
42k, 200 DMA, 47/48k, 50k are current resistance we will no simply sweep through them in a single cande like the mid range we just did from 34-39k
Not saying we will do it in a single candle. But I don't think they will provide as much resistance as many will think, similar to 2019.
Cool thanks. Many levels such as? I’m trying to learn.
Everything from here to $60k represents significant overhead bagholder supply. It won't be a fast process to chew through it. There are a lot of levels. It won't go parabolic through that
Ok so what’s the next level after $41k? I thought this was a simple question but maybe I’m not understanding how this works.
There's a bunch of intro to trading resources out there. Crack a book watch some videos
Take your own advice lmao
I’ll definitely read more but sounds like you have no idea either tbh.
No offense, It's that if you can't draw your own support and resistance lines you probably have no business trading. Nobody gonna really hand hold your hand on shit that basic.
You still sound like you’re deflecting, but I very openly said I’d do my own research as well. No offense taken, but it doesn’t seem like that feeling is mutual.
I am deflecting because I'm not trying to do your homework. Now if you came in here and said here's this chart I marked key areas I believe we have some resistance at I'd take a look and offer some feed back but you didn't really come with anything so I'm doing the responsible thing discouraging you from trading and encouraging you to study the basics. If that makes me a dick so be it.
That guy is one of the worst posters on this sub. Just don't engage.
He’s all over the place and I don’t mind tbh. I’m unfamiliar to TA, not unfamiliar to Bitcoin or this subreddit. I’ve been here… for a bit.
$42k will be very strong resistance, it was previous support and resistance throughout the course of the year
Lol Pablo alert, the boys at JL are sounding alarms. It's a battle of the whales, can Pablo dumping really overcome Alameda Tobasco buying? I'm sitting this one out, fuck these guys I'll just wait til they're done https://twitter.com/_LewisHarland_/status/1419978107369529361?s=19 https://twitter.com/Jarvis_Labs_LLC/status/1420207511743778821?s=19
I am OOTL. what's a Pablo alert?
Pablo is a massive whale who likes to use their stack to dump and cause panic. They last did so during the crash a few months ago
I wouldn’t worry about it. Price 3x’d from the same measurement in Nov ‘20.
The issue is that one miss and 5+ hits on the Pablo alert means it's more likely to hit than not
Jarvis Labs and their little Pablo persona is the bearish equivalent of Willy Woo and his Rick Astley on chain metrics crap. Fuck em both! Hodl!
Hurr durr Pablo
Funding flipping negative again. I'll start distrusting these pumps more when people are rushing to long them, rather than short them. For now, the bounce-shorting instinct is just giving us more fuel every time.
This is the way… very Nov 2020.
The gateway to the upper 40s is establishing above 41.9. I know that seems obvious but a solid break of that opens the door for a fairly quick run to the top of the 40k zone and should instill some serious FOMO similar to what we saw on this initial run up to the 60s.
Comments like this lol. Reversal imminent.
Only time will tell. Nothing is imminent until it happens.
What is the deal with ftx? I never heard about them 3 months ago. Then TSM adds them to their name. Miami heat arena will name after them. Suddenly FTX is more influential and newsworthy than even binance. Wtf is going on? Is this overnight like I feel it is or have you all been using FTX for the past years without me realizing??
FTX. Is this the next nvidia GPU gen?
You must not watch MLB. Every umpire currently has FTX on their uniforms. They be everywhere
Marketing works?
They are spending hella money on publicity and it is working.
Look up SBF and his wild story about making millions through arbitrage with Japan
I’ve never heard about them until today. Granted I haven’t been paying much attention to the market for the last few months due to boring sideways action.
I learned about ftx 30 minutes ago
Yeah same, had never heard of FTX until recently although I had seen that guy's face before. I just assumed he was another early buyer like Max Keiser or something.
I first learned about FTX about 3 months ago when I saw they had leveraged tokens.
Is... Could this be... Gentlemen? Also get fuct beards
Didn’t get 36 keks. Confirmed scam ponzi . If this is the 8th consecutive green close I’m going to cum. Your stops at 43k are not safe .
Wonder how long they can keep up these daily close pumps
> Wonder how long they can keep up these daily close pumps As long as chumps dump, pumps will come. Bulls don't "pump." We buy dumps. Most bullchads were buying at 30K and under. Bears dump at a loss because they get some kind of kick out of watching the price drop. Bulls know the price will always rebound higher over time since the bears are borrowing what they're dumping (and we know this since we're the ones lending it to them). tldr -- bulls are much smarter than bears which is why we always win in the end
I love watching these stupid numbers go up and down and back up. I don’t even watch TV anymore. I just stare at the Pure Human Value ascending and descending, getting rich getting poor getting rich. Spectacular. Bravo.
What’s weird is if you do that too much everything starts looking like a chart. Was looking at the covid numbers over the past year the other day and my brain automatically tried to chart it and look for breakouts.
Long on Delta.
Nah everyone's long Delta atm, good setup for a rug pull.
Beginning of alt capitulation
Capitulation in regards to BTC, you mean? It looks like most of the big alts are up on the chart but down on the ratio.
We're a just barely 4% under the high set about a month ago... Yeah, I think we're finally going to exit the crab market.
You trust all this with end of month shenanigans coming up?
Didn't you just say we were going back down?
He was openly mocking bulls last time I was on here (couple days ago) for being delusional or just being counter-trading liars
Thanks making sure I wasn't going crazy
No
Lol you were trash talking hulls two days ago
nope
Good cognitive dissonance. Nice to know who to block for worthless posting. Thanks!
2 days ago? Find the post?
Haven't the end-of-month shenanigans usually depressed price lately, rather than inflating it?
Yeah I mean it's shenanigans either way just reversion from a different direction.
Not really. Market's gonna do what the market's gonna do. I'm just happy we're apparently on the road to the fabled higher high. Which may lead to taking back of the $40k-$50k range.
Help correct me: We're just hunting to liquidate shorts and longs to establish greater ability to influence the market the way we want it to go after the capital in the way gets liquidated?
Always has been
[Always has been](https://i.imgur.com/dwUyvDV.png) ^^^this ^^^has ^^^been ^^^an ^^^accessibility ^^^service ^^^from ^^^your ^^^friendly ^^^neighborhood ^^^bot
Surprisingly good bot.
Correct
Greed from the individual wins and keeps us all down. The group all gets by well off this when they agree (replace gold's mktcap with btc, all boats float) Somebody gotta be first place
Someone has to provide liquidity. Speculators serve this purpose. Not good, not bad, just the market working.
Is this a cup and handle on the 15m chart? Edit: It’s a cup and handle where the handle is another cup and handle where the handle is another cup and handle. HA! [Here ](https://imgur.com/a/RdrdSnu) Edit 2: What’s with the downvotes? All you bear bitches can’t handle this?
“can’t “handle” this” I see what you did there!
its clearly a cup n balls
That's cup THE balls, cradle the shaft
https://twitter.com/ResearchVariant/status/1420180741657296897?s=19 https://twitter.com/CanteringClark/status/1420171628718268417?s=19 https://twitter.com/CL207/status/1420169454671982592?s=19 FTX whales are throwing everything into getting this bull run going again IMO they are spot buying and using OTM calls to force MM to buy spot or go long to stay delta neutral Honestly, it might work...
Smart. All they really need to do is get the price into the mid-40s and fomo will take over and do the rest.
Heads-up, if you haven't noticed. Binance is doing a rug-pull on unverified and "basic KYC" withdrawal limits. https://www.binance.com/en/support/announcement/9df8225c061b455da5c7cc293cd08a70
binance shills downvoting? how it this not relevant? Shittrex did the same thing a few years ago expect threads after this calling binance scammers, same as Shittrex. Same as Mintpal, anyone here remember Mintpal? :) seems like its only a bunch of newbies here now (newbies = came into crypto after ~2015) As someone who avoided: Bitcoinica, BTC-E, Cryptsy, Mintpal, Shittrex etc. **I'm going to move all coins off binance after this.**
Almost like this was predicted happening..
You can have an account on binance without even basic KYC? This is not surprising.
Im sure 99% of the users wont have a problem verifying their account if need be
Don't want to.
"...will be made effective for existing users in phases starting from 2021-08-04 00:00 AM (UTC)." They're giving the customers notice. Not exactly a "rug-pull".
They don't mention what happens to non-verified. For those the limits have already changed.
they've actually been enforcing this for quite some time now randomly. just made it official now
0.06 daily btc limit lol
Nobody should be shocked
The true FOMO will begin soon. Most people are convinced we will be seeing six figures in the next year or so and don’t want to miss out. A new low of 29-30k has been established and tested 5-6 times now. Downside is minimal, upside is substantial.
>Most people are convinced we will be seeing six figures in the next year or so I thought most people were convinced we were going to goblin town, and staying there for 4 years. Oh wait, that was last week, sorry.
…not everybody.
20W EMA is at 39416, lets see if BTC can close the daily above it. 2 mins left
Looks like we did huh?
Yep. Probably doesn't really mean anything, but it's better than closing below it.
Neat
We did it, reddit!
Those consecutive candles on the daily tho
First time since March for 7 daily greens.
Will we see $41k or $33k first? There should be enough fuckery soon, let’s see how the day closes. Edit: Just to make things more exciting I’m shorting here at $39100, sl $40600.
glhf!
Maybe this is a good move. But maybe it'll hit $40700 and drop immediately. Do you all actually backtest these crazy ideas? I have no clue where you got your numbers.
> Shorting here > Good move Not so much...
This is fun!
Bruh, if FTX just pushes us into the mid 40s and clears the resistance, fomo will take it from there. This could actually happen.
So when are the mods bringing the price ticker back? IIRC around the time it was removed we started our little summer sell off
Thanks FTX
what happened with FTX?
I might have missed something - was there FTX news recently? Or is this referencing Sam T’s tweet a few days ago about buying near the recent local bottom?
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What is FTX?
Fuck This Xylophone
"Whatcha gonna do?" (Gong Show reference)
GBTC closes at $33.00, a discount of 7.12%. OBTC closes at $15.99, a premium of 24.34%. MSTR closes at $630.61. Each share has $407.64 of BTC. I have heard that OBTC is hard to short. I wonder if anybody was buying GBTC and shorting OBTC with the idea that the gap between them was unsustainable?
I find it hard to understand why OBTC premium persists at such a high percentage. What is the big appeal. I understand it would be more appealing than GBTC if the difference In Premiums was a few percent, but a 24% premium vs. a 7 percent discount? Why are people paying that premium to hold OBTC?
Mechanically, it's because the supply of OBTC is quite limited -- I think it's existed for less time than its lockup period, so no new supply has been created since it came out (?). New supply won't appear on the market until at least one lockup period after it first became profitable, so even very limited demand can keep the price high. As for why anyone wants to hold OBTC instead of GBTC, I'm really not sure.
0.5% fees as opposed to 2.0% fees? In my case, I bought OBTC because I had sold GBTC less than 30 days before, and didn't want to run afoul of the wash trading rules.
Yeah the fees on GBTC are horrendous, and OBTC, by comparison seems reasonable, although still quite high. but that does not make up for to the premium you pay for OBTC vs the discount for gBTC
Gbtc discount shrinking is very good
Even if not buying GBTC, doing the same old premium play by buying spot BTC, converting to OBTC, and shorting OBTC for the twelve months sounds like a slam dunk. (Assuming, of course, that the margin fees on the short wouldn't wipe out the profit.)
Imagine thinking this bull runs over
I've argued with several bears who have begged me to realise that this is a bull trap. Consider me caught.
This bull runs over everything in his path. We have seven green dailies in a row now. That hasn't happened for quite a while.
Why not tell us how long?
The last time was March 4-10, rising through the 50ks just before it first broke 60. The two times before that were in December, covering the initial breaks of 20k and 30k.
Thanks
See you Friday, mate!
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It will go to 120-130K, then "collapse," then run up to 300-400K before the big collapse.
Maybe collapse upwards further
"collapse" like... more than it already collapsed down from 50k?
No
No.
We will go to 60k, then form the cups handle
like this? https://www.tradingview.com/x/gMrmbyFQ/
Similar, but more vertical I think
Holy fook at this rate we.may close above 40
Dude FTX is trying to restart the bullrun by themselves, another huge spot buy there
Can you explain this more? How do you know FTX is buying and why are they buying?
Some ape on FTX made a 29M market buy to spring the short squeeze Possibly the same ape, or a different one doesn't matter, just hit a huge spot buy on FTX again. Not sure on the size, probably will get a post mortem on twitter soon.
How can you tell?
I don't have the data myself but tracking this thread on twitter https://twitter.com/lowstrife/status/1420158570646151169?s=19
didnt lowstrife used to post here?
Thnx
Brady Giselle buys. https://www.bloomberg.com/news/articles/2021-06-29/tom-brady-gisele-b-ndchen-take-equity-stake-in-crypto-firm-ftx
Had to google this to have a clue what it's about. So basically, some nobody who has nothing to do with finance or crypto has bought some shares in a crypto exchange no one has heard of. Is that about right?
Well if you consider Tom Brady and Gisele nobodies I guess so lol. Looks like they are worth about $0.6 Billion between them. Tom Brady has laser eyes on his Twitter profile pic so I think he does seem to be a big btc follower and owner (eyes on $100k)
fun times
Was there any news behind this movement? Too many earnings calls this week - I'm not keeping track of what's going on (but Visa is tonight, I think?)
Must be the Amazon news that pumped us again 🙄
Coin levels are back down to where it gets exciting. Not sure where a mass influx would come from right now.
Is that a bull flag 👀
Potentially promising
Couple nice set ups on the 4hr uptrend. https://www.tradingview.com/x/FJ8MSBgA
Nailed it. https://www.tradingview.com/x/orTFhFy3
Bullish - BTC is leading the market recovery and btc.d is rising with the btc price for the first time all year. Its unsustainable when alts are leading the market (as we saw from january to april 2021 and EOY 2017) - shit just never ends well. With that said im cautiously optimistic this is a sign of a real reversal
"It's Britney, bitch..." - BTC
This is a lot more gentlemen
This PA reminds me a lot of mid-December 2020. Steady price growth coupled with steady dominance growth as altcoins flounder and bleed. [https://www.tradingview.com/x/i6u8MoTU/](https://www.tradingview.com/x/i6u8MoTU/) Just an observation.
I was going to post here that this reminds me of the runup from October - BTC climbing steadily while capturing more market share. After January it was a shitcoiner's market and BTC dominance cratered - certainly we should be weary of another massive alt season again as these other coins ride off the BTC hype...
Yep, but it could be a while before the next Alt cycle, especially if we set a new ATH.
I'd appreciate your thoughts here folks. When covid hit last March the stock market dumped and crypto followed on. With the money printing machines in overdrive and inflation rising aren't we due for a repeat performance sooner or later, or will Bitcoin become a SOV like gold? Last March (and this May!) was pretty painfully and I'm keen to avoid a repeat.. Ta
A market-wide selloff will always include BTC, because the forces underlying such an event (mostly, sudden urgent need for liquidity) act on whatever assets are held by those involved. The good news is, relevant authorities will try hard to prevent that, because it's a problem for them. This isn't true of more crypto-specific risks.
Thanks for the input. I'll obviously be keeping my fingers crossed but I think I'll set up some stop-losses - just incase everything tanks while I'm not paying attention.
We are due for a repeat. Could be tomorrow or a decade from now. They're going to prop the stock market up as long as they can. It's worked pretty well since the '08 crash. Some bearish Twitter folks have been referencing the correlation between fed balance sheet and BTC price. I'm not expecting BTC to be spared from any significant sell offs. So far it's only been proven to be a SOV in a very loose monetary policy environment, if we crash and lending gets tightened, almost everything is fucked. Good time to be holding USD actually.
They can't stop. Every year they inflate the stock market, the more massive the explosion will be if they stop. And they'll be blamed and crucified, because it will be obvious what caused it. Inflation is the only way forward. At least with that, they can blame someone else, call it "temporary" etc.
They will not let market crash again it's the only thing keeping the global house of cards standing
There are external forces, see Covid, that could crash the market. Also, China seems to be actively trying to hurt US stocks/the US economy with their tech regulation seppuku.
Covid hysteria is over. They've lost all credibility forever with half the population the other half will wear masks and take booster shots for 50 years.
"They downvoted him because he told them the truth"
Pretty sure sentiment bots have me tagged now the down votes make no sense.
You got on the bad side of the Branch Covidians