The Bitcoin (BTC) thread

bucky

Ostrich
I literally wanted to at that moment but the exchanges were down.

Still great prices right now though
Yes, I couldn't get into my exchange at the low point this morning either. Wasn't planning on panic selling, just assessing the damage, but I'm guessing it was panic sellers and nerves of steel buyers overloading the system.

Things are looking better now. Thanks to whoever posted the 300 video. Just the kind of levity I needed at the moment
 

JohnKreese

Pelican
Yes, I couldn't get into my exchange at the low point this morning either. Wasn't planning on panic selling, just assessing the damage, but I'm guessing it was panic sellers and nerves of steel buyers overloading the system.
Yeah, the masses just happened to be locked out of exchanges during the greatest buying moments in recent history...

There were certainly buyers at $30k, but I don't think they had to have nerves of steel to pull the trigger.
 

Coja Petrus Uscan

Hummingbird
Orthodox Inquirer
Gold Member
There must be a lot of money on the sidelines now, considering the market cap across all cryptos dropping. I wonder where it will go next :hmm:

I believe this is the beginning of a new BTC rally.

Screenshot at 2021-05-19 21-57-23.png

People are going to be a bit scared buying back into small alts ATM. They are going to want to stick with the safety of a resurgent BTC.

From what I see people have been very happy buying sub-$40K.

I will buy a load of alts though :cool:
 
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Coja Petrus Uscan

Hummingbird
Orthodox Inquirer
Gold Member
Here is the "Incoming Bitcoin crash" thread from December 2017. It was started six days before the crash.

24 hours before the crash there were high hopes:

Incoming Bitcoin Crash?

Put your money where your mouth is and take all your money and short bitcoin at 100x.

Let us know how it goes.

I do not feel anywhere near the level of mania of Nov-Dec 2017.
 

fireshark

Woodpecker
Orthodox Inquirer
For anyone who missed the flash crash around sub $35k, I think we'll retest those lows again within a few days or a week. Another strong bounce like today and I will feel strongly that the correction is pretty much over and a steady bull has resumed.

Until then, I've taken a small nibble of BTC, but won't be doing much else.
 

Deepdiver

Crow
Gold Member
Markets do what they are supposed to do - looks like someone was willing to sell a block of BTC at the .618 retrace even number because that wick down to an even 30K was suspicious enough and then a bounce back up 8K was a rejection wick like you read about even on the Coinbase feed. Ran right through the Red 200 Day Moving Average AND through the .618 Support of 32K down to 30K - expect strong support at the wave 2 low of 28.5K and now fully expect a red down candle body close at .618 31K - Wave C is a 3rd Leg Down and moves very fast and can run 1.618 to 2.618 or even 3.618 of Wave A...

Thus sine wave analysis can help here since BTC moved below the 200 like it was not even a bump in the road - the Wave 5 High measured to the 200DMA was 31 K - now today the 200 DMA is at 39.8K - therefore subtract 31 from 39.8 and you get a range of 8.8K to 10K Sine Wave target BELOW the current 200 DMA. Market Was out of balance at 65K and now is at balance on the 200DMA and the pendulum can swing back approximately the opposite direction and speed as it swung forward. Summary take the 200DMA now at 39K to 40K and subtract 31K for potential Sine Wave Target swing low at 8K to 10K range.

1621449316354.png

And in the spirit of the great first mover BTC is the tide that rises and lowers all ALTs ETH leg 4 retrace mirrored BTC today... Rejection wick all the way down to the Wave 2 top strong support - ETH could easily close on the Purple 100DMA above Wave 2 Top and still be a valid wave 4.

Just saying these were huge rejection wicks curious if the Fed and She Be Yellin told Goldman Sachs and JP Morgan to push the CME BTC and ETH futures market way down to rattle the confidence in BTC and ETH Corporate CFOs as a dependable reserves asset among Elon and Saylor types. Or just that GS and JPM saw a major Sine Wave Opp to short CME Futures for a maximal fortune? 5 points times 5 BTC on each CME BTC Futures contract! Shorts went Kaching!

1621450773200.png

AND... BTC CME, ETH CME and S&P CME Futures All Correlated today so smart money is telling us they have lost confidence in the Hot Crypto and S&P 500 - What is it that Spooked them have the Biden AOC Bernie BLM Antifa Chicoms done something crazy - well more crazy than the usual?

S&P 500 Had a rejection wick below the Gold 50 Day Moving Average - Rule of Moving Averages is if we Close on the Daily below 50 our next target is the Red 200DMA as indicated.

So lots of corrective action today as predicted. I hope that when I suggested selling at the BTC Wave 5 Top at least some folks took heed. Well now we can all look at interesting reentry points for BTC and most futures at the Sine Wave lows...
1621451289387.png
 

Penitent

Robin
Orthodox
Markets do what they are supposed to do - looks like someone was willing to sell a block of BTC at the .618 retrace even number because that wick down to an even 30K was suspicious enough and then a bounce back up 8K was a rejection wick like you read about even on the Coinbase feed. Ran right through the Red 200 Day Moving Average AND through the .618 Support of 32K down to 30K - expect strong support at the wave 2 low of 28.5K and now fully expect a red down candle body close at .618 31K - Wave C is a 3rd Leg Down and moves very fast and can run 1.618 to 2.618 or even 3.618 of Wave A...

Thus sine wave analysis can help here since BTC moved below the 200 like it was not even a bump in the road - the Wave 5 High measured to the 200DMA was 31 K - now today the 200 DMA is at 39.8K - therefore subtract 31 from 39.8 and you get a range of 8.8K to 10K Sine Wave target BELOW the current 200 DMA. Market Was out of balance at 65K and now is at balance on the 200DMA and the pendulum can swing back approximately the opposite direction and speed as it swung forward. Summary take the 200DMA now at 39K to 40K and subtract 31K for potential Sine Wave Target swing low at 8K to 10K range.

View attachment 31011

And in the spirit of the great first mover BTC is the tide that rises and lowers all ALTs ETH leg 4 retrace mirrored BTC today... Rejection wick all the way down to the Wave 2 top strong support - ETH could easily close on the Purple 100DMA above Wave 2 Top and still be a valid wave 4.

Just saying these were huge rejection wicks curious if the Fed and She Be Yellin told Goldman Sachs and JP Morgan to push the CME BTC and ETH futures market way down to rattle the confidence in BTC and ETH Corporate CFOs as a dependable reserves asset among Elon and Saylor types. Or just that GS and JPM saw a major Sine Wave Opp to short CME Futures for a maximal fortune? 5 points times 5 BTC on each CME BTC Futures contract! Shorts went Kaching!

View attachment 31012

AND... BTC CME, ETH CME and S&P CME Futures All Correlated today so smart money is telling us they have lost confidence in the Hot Crypto and S&P 500 - What is it that Spooked them have the Biden AOC Bernie BLM Antifa Chicoms done something crazy - well more crazy than the usual?

S&P 500 Had a rejection wick below the Gold 50 Day Moving Average - Rule of Moving Averages is if we Close on the Daily below 50 our next target is the Red 200DMA as indicated.

So lots of corrective action today as predicted. I hope that when I suggested selling at the BTC Wave 5 Top at least some folks took heed. Well now we can all look at interesting reentry points for BTC and most futures at the Sine Wave lows...
View attachment 31013

:nerd You went above and beyond on this one ^
 

Deepdiver

Crow
Gold Member
Feds getting a Bit Stroppy here email in my inbox from Bittrex:

Hi oh Deep one,

Thank you for being a valued Bittrex customer!

Because security and compliance are our top priorities, we are now requiring our users to update source of funds information in order to continue using our services.

Please log in and follow the steps provided by Wednesday, May 26th, 2021, to continue utilizing your Bittrex account.
If you have any questions, please refer to this article: https://bittrex.zendesk.com/hc/en-us/articles/360059089511-Compliance-FAQ
 
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Deepdiver

Crow
Gold Member
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budoslavic

Owl
Orthodox
Gold Member




E1yJtVoWQAMIUnf
 
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Deepdiver

Crow
Gold Member
LOL It keeps Dipping - everyone reading this and the BTC threads saw my OCD level charts and knew we were going to Correct - now to see if we Sine the Wave... Even the legendary Ocean crossing Albatross eventually lands to make more Albatrosses.
 
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