My guess, it will either stop here or drop another 30% or more. That's what my doodle tells me.
Monitoring the Crypto Bubble
- Thread starter Bullion Baron
- Start date
My guess, it will either stop here or drop another 30% or more. That's what my doodle tells me.
Please keep sharing your doodles with us
You, crypto cowboys, have such well-trained doodle's.
The only thing my doodle tells me is when it's time to take a piss.
The only thing my doodle tells me is when it's time to take a piss.
I normally charge people to see my doodle. But every now and then i flash one out for free.
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Millennial Engineer
Well-Known Member
Do you know what caused it? I tried at my usual places and i couldn't find anything. Not even FUD news as the initiators of an event. Edit: i guess Maybe Fed talk about making the dollar stronger and There was some Charlie Munger FUD saying everything is overvalued in the papers today, not that big news imo.
I felt it was whales at work trying to dislodge leveraged traders.
Zero hedge just posted.
https://www.zerohedge.com/crypto/leveraged-bitcoin-traders-flushed-out-epic-overnight-crash
TreasureHunter
Well-Known Member
Michael Saylor or Raoul Pal just cashed out on a bunch and bought an archipelago of private islands
I think the correction MIGHT go deeper than 40 k.
If we reach somewhere around 28-29 k down, then these two "big humps" Bitcoin has reached this year will mean a double-top and it can collapse down further. This is crash scenario, but just a possibility.
Or, we might stop here.
I really think 100 k Bitcoin is possible next year. But then, RavenCoin will hit through 1 $ and so will DogeCoin.
Look at how well Ethereum has been holding on and the steady growth it had this year, unlike Bitcoin. Might be growing at a higher pace than Bitcoin. Also, because of it's infrastructure, Ethereum seems more promising.
John McAfee had a number of negative remarks regarding Bitcoin, saying something like "nothing is trading in Bitcoin". I remember hearing him say Monero is more used for payment, but who knows.
There's support at the $40K mark and even stronger at the $30K mark, have a look at the wick overnight, someone scored a bargain and it usually indicates a reversal.
Michael Saylor or Raoul Pal just cashed out on a bunch and bought an archipelago of private islands
I think the correction MIGHT go deeper than 40 k.
If we reach somewhere around 28-29 k down, then these two "big humps" Bitcoin has reached this year will mean a double-top and it can collapse down further. This is crash scenario, but just a possibility.
Or, we might stop here.
I really think 100 k Bitcoin is possible next year. But then, RavenCoin will hit through 1 $ and so will DogeCoin.
Look at how well Ethereum has been holding on and the steady growth it had this year, unlike Bitcoin. Might be growing at a higher pace than Bitcoin. Also, because of it's infrastructure, Ethereum seems more promising.
John McAfee had a number of negative remarks regarding Bitcoin, saying something like "nothing is trading in Bitcoin". I remember hearing him say Monero is more used for payment, but who knows.
You've as many predictions as a newspaper psychic
Regarding "nothing is trading in Bitcoin"; Bitcoin is a wealth generating asset.
There's support at the $40K mark and even stronger at the $30K mark, have a look at the wick overnight, someone scored a bargain and it usually indicates a reversal.
that cluster of volume to the left are the holders that will panic @ under 40
TreasureHunter
Well-Known Member
^
So it's going up?
s
Bitcoin is a trust-trading digital trinket. A hope-based rich-maker.
So it's going up?
s
You've as many predictions as a newspaper psychic
Regarding "nothing is trading in Bitcoin"; Bitcoin is a wealth generating asset.
Bitcoin is a trust-trading digital trinket. A hope-based rich-maker.
I’ll see if I can drag up some data shedding light on who some of those buyers may be.
More like who wasn’t buying ?
All I can look for is new addresses formed and see if there is any correlation with increasing volume in an attempt to work out if it’s new players only or existing holders adding to their position
Edit to add: or a combination of both
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Leveraged Bitcoin Traders Flushed Out In Epic Overnight Crash https://www.zerohedge.com/crypto/leveraged-bitcoin-traders-flushed-out-epic-overnight-crash
TreasureHunter
Well-Known Member
Is the crypto market full of pennant formations (a strongly bearish formation characterized by a "narrowing triangle tip" towards the right side)?
Stellar and Raven show this pattern, but not Bitcoin and not Ethereum.
I can also see the pennant forming on gold's chart, if I take a glimpse at it.
Stellar and Raven show this pattern, but not Bitcoin and not Ethereum.
I can also see the pennant forming on gold's chart, if I take a glimpse at it.
Here I was thinking that was bullish!
TreasureHunter
Well-Known Member
It turns bullish AFTER it goes deep enough. If I am correct, the triangle forms, as it narrows, then it takes a bearish dip almost vertically down.
I think it is bearish, because we are only within the formation of the triangle. The bearish drop follows after it narrows down enough.
I know little about technical analysis, but I went to a course many years ago and I remember a few formations. I might be wrong
TreasureHunter
Well-Known Member
I think the level is somewhere around 28 k.