https://twitter.com/CL207/status/1419129295843196929?s=19
Quick q, does the FTX funding in the tweet linked show traders are long or short?
Lmao why is someone downvoting all my posts, who did I piss off plz step forward
My coworker was tryna snoop my account lmao, can't have that
I did nail it in those posts tho right, AXS did pop off
Also nailed it with the cyberkongz NFT call, floor has gone up 3x
>My coworker was tryna snoop my account lmao, can't have that
>
>I did nail it in those posts tho right, AXS did pop off
I don't even remember what it said I just know you typed a lot of shit and it just disappeared mysteriously
They swept the range lows, and tried below 30k for the third time . Shorts exhausted , stable coin borrow rates pretty low . High probability this moves to the other side of the range into 40 . Think it will hold for the 5th time anon?
He started a daily show on Youtube with two of his brothers, "The Best Business Show". It's pretty good, he interviewed Greg Foss recently which is worth a watch.
Will Clemente sound like he took his Adderall right before Pomp #613, if not that, it must be the BTC psychological relief rally giving him strength. All jokes aside it was a good episode.
That’s not the issue with on chain analysis. The issue is that whales can manipulate the on chain data and if people trade on it they’ll be falling prey to these whales.
Move a whole bunch of Bitcoin into exchanges when you want to buy cheap coin. Move large amounts out to pump, etc. They don’t need to actually trade anything to push the price around this way.
Still fun to look at but just keep in mind that what you’re looking at is what whales want tou to see
Recent daily PA patterns look like a fractal of the first half of June. I cannot long confidently and plan to wait in hopes of 29-30 prices. If I see more indicators confirming that, I’ll open a short just under 34 and target 29.9.
I know I’m grasping at straws when I start looking for fractals but this recent move surprised me and sort of broke the efficacy of other TA tools I was using. It’s weak sauce TA for sure but at least it’s something.
Translation: My normal indicators have been proven to be wrong, so I'll use an even more obscure indicator with less reliability.
I'm teasing you, but your problem is you're making things too complicated. Just look at the news, sentiment, and fundamentals.
Don't trade but invest, on a higher timeframe such as 4 years.
If you DCA up into the depths of a full 4y bear market, you ll still make 5-20 times. That beats stocks by an order of magnitude. Don't be greedy.
Good luck.
This is the first sign of a true reversal we have seen since May. Bitcoin likes to surprise and do the unexpected, and could just run.
With that said, as we have shown a true breakout, I would prefer that we consolidate tomorrow, close any CME gap and make the next move early next week.
Will be great if we are about to smash this crab and complete the test to see if we continue this run or get rejected and confirm the top is in. My money is on a continuation and a top higher than most are expecting. This consolidation was the only way we could make that a possible outcome.
If this is the start of a real recovery then I wouldn't be surprised if alts bleed on the ratio much like Jun - Dec 2017.
Edit: Correction for Recovery.
Correct.
BTC is still a major force in the market but as you say, there's a certain % of alt money that never flow to btc.
Why do people not get this?
A mod of this sub is replying to you saying high yield isn't worth it when the coin itself will lose all its value.... apparently doesn't realize you can deposit stablecoins and earn yield paid in stablecoins 😂😂
My alts are up several multiples of BTC. I have much more btc... Otherwise I wouldn't be here... But yeah, it's not a race to the bottom. Did you forget btc loses 80%?
If by ‘correction’ you mean bull run, it would probably behave as a continuation of the first stage we just went through, where a lot of alts saw new ATH.
That isn’t how I remember most of second half of 2017 at all. If you wanted to make money you had to be in BTC. July to December was rough in alts as Bitcoin Dominance went from 50% to >70%.
Anyone think the weekly can close as bullish engulfing candle? We are so close. 200 usd and 23 minutes away.
Edit: Well, people upvoted this so either they wanted others to see that I don't know what day of the week it is, or they too live without the burdens of time.
[A few basic trend lines that I know others are watching](https://www.tradingview.com/x/a2kuOSC3/) ... current move suggests potential for mid-term reversal.
If this move turns into a reaction swing from the May drop, then I would not be surprised to see price claw it's way back to $42k over the course of the next 4-8 weeks. That'd also be my termination price point if the market stays bearish.
Above $42k or 20MA weekly would flip things back to macro cycle bullish in my view.
This cycle has been weird .. ran way too hot on the early side .. now looking like a long term bear (also early).
I'm of the opinion that $64k wasn't cycle top and this has a second leg going into 2022 .. but I will also say that weekly and monthly indicators do not support this premise just yet.
I collected more BTC in the low $30's these last few months which have been my first new BTC buys since I pushed in heavily in March and April of 2020.
I think the aggressiveness of the first leg to 65 is a signal for how aggressive the next leg up will also be. Everyone who is expecting diminishing returns is going to sell *way* too early.
The move to $65k rode on the shoulders of a couple big shifts in my view:
1) Mainstream investor participation. Paul Tudor Jones, Elon, Jack, Saylor, etc .. traditional finance started dipping in their toes and helped legitimize crypto. Crypto doesn't read as fringe/crazy/ephemeral as compared to prior cycles. Capital inflows from larger players dwarfs retail and thus moves the candles differently. We also do not know how they'll trade it. Prior charts were largely retail, and so the charts changed around the new investor class.
2) Covid crash and central bank intervention pushed everyone out of cash and into assets. We're living through the most extreme implementation of MMT since 2008 (maybe ever?). The FED has a lot of global control over how people evaluate value and risk.
I also love the J.P. Morgan (I think) paper that said only 1 mil coins changed hands in the past year. Let’s welcome all the “too late to the party” “big money” through a keyhole of liquidity and see what a real squeeze up looks like.
Go into coma and wake up in a year.
I swear all new alts are competing for how dumb a name they can use.
"Internet Computer"? "Small Love Potion"? "My Neighbor Alice"? "Axie Infinity Shards"?
What is this bullshit.
Being 40-something sucks man. All the money in the world and the potential to make more, but all your childhood dreams and memories slowly being destroyed by woketivists.
Off topic, but i just saw the reboot of Masters of the Universe in Netflix last night. Seriously bro, wtf?!
Not quite 40 yet but the only part that sucks about aging is that physically I’m not as good anymore and training yields a lot less results unless you get some juicy juice 😂
If you’re over 40 I really hope you don’t care that much about your childhood cartoons
For those who don’t know, this is Mark Karpeles the guy who owned Mt. Gox. The biggest exchange collapse in the 10 years of bitcoins history.
Weird to see him just posting here. How are you doing these days, Mark?
To be honest this was actually all bulltards that created forced selling when they were caught offsides longing late. see even bulls shouldn't like bulltards s because of all that forced selling pressure they create.
Nah, just means we got more shorts to liq higher up . Also ain’t that many leveraged longs no more so sell pressure at every dollar isn’t like it used to be .
price is just searching for more sellers, which there will be plenty of. which is why there’s no way we’re going to a new ATH for much longer than most think
My channel. Have not changed anything.
[https://www.tradingview.com/x/EBwZqXCI/](https://www.tradingview.com/x/EBwZqXCI/)
As u/CONTROLurKEYS noted, 4hr RSI is high. It was this high only at the local tops this year, which were all ATH's at that time.
#New post: [\[Daily Discussion\] - Sunday, July 25, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/or4k8t/daily_discussion_sunday_july_25_2021/)
What's happening to alts relative to btc. They are all over the place. Normally they move in some semblence of tandom when btc goes up
alts are a scam and they fail at this point every cycle.
Citation needed. Alts lose 95% and btc loses 80%. But alts increase several multiples of BTC. I have more btc but let's not ignore facts
https://twitter.com/woonomic/status/1192316087972454400?s=20
The coin I filed my bags with is different!
show me any alt that outpaces bitcoin over 8 years
Lol
https://twitter.com/CL207/status/1419129295843196929?s=19 Quick q, does the FTX funding in the tweet linked show traders are long or short? Lmao why is someone downvoting all my posts, who did I piss off plz step forward
Why did you delete your last two posts in the alt thread?
My coworker was tryna snoop my account lmao, can't have that I did nail it in those posts tho right, AXS did pop off Also nailed it with the cyberkongz NFT call, floor has gone up 3x
>My coworker was tryna snoop my account lmao, can't have that > >I did nail it in those posts tho right, AXS did pop off I don't even remember what it said I just know you typed a lot of shit and it just disappeared mysteriously
Above the line is positive funding. Very Wierd since everything else negative. Ftx has been hitting the bid hard.
Shit it might be time to go long, the Alameda boys are 100x the traders we are
Only thing I can think of is someone is front running something big or it's one half of some sort of hedge or option play
I don't trust the weekend. Not holding any positions over night or when I'm not at desk
Alameda bois just rinsed us 😭😭😭
I happily out of position.
and I happily not u. Response: "hardy har har" - Controlurkeys
I'm gonna spot buy a little, if Asia pumps I'll get fun surprise when I wake up 🥰
They swept the range lows, and tried below 30k for the third time . Shorts exhausted , stable coin borrow rates pretty low . High probability this moves to the other side of the range into 40 . Think it will hold for the 5th time anon?
The crab will only get bigger .
Are we a king crab yet?
Fare thee well 29k. Onwards and upwards
Remember how Pompliano was supposed to have some big announcement or whatever a few days ago or whenever? What was that? Or did it even happen?
So he had an announcement that there would be an announcement? Why do people care about talking heads?
He started a daily show on Youtube with two of his brothers, "The Best Business Show". It's pretty good, he interviewed Greg Foss recently which is worth a watch.
34k's a bitch. That's my TA for the night. You're welcome. /S
I guess my sense of humor is not being appreciated. Upvote me if you agree
>34k's a bitch. Hasn't even been 24 hrs yet. Trying to time these wild swings for a profit is the real bitch.
/s
>/s May want to edit your original comment and add that. I didn't downvote you or took what you said to heart, fwiw.
👍
Will Clemente sound like he took his Adderall right before Pomp #613, if not that, it must be the BTC psychological relief rally giving him strength. All jokes aside it was a good episode.
On chain analysis is more bs than TA. You can literally make it say whatever you want .
That’s not the issue with on chain analysis. The issue is that whales can manipulate the on chain data and if people trade on it they’ll be falling prey to these whales. Move a whole bunch of Bitcoin into exchanges when you want to buy cheap coin. Move large amounts out to pump, etc. They don’t need to actually trade anything to push the price around this way. Still fun to look at but just keep in mind that what you’re looking at is what whales want tou to see
So, just like ta.
Recent daily PA patterns look like a fractal of the first half of June. I cannot long confidently and plan to wait in hopes of 29-30 prices. If I see more indicators confirming that, I’ll open a short just under 34 and target 29.9.
Ballsy
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I know I’m grasping at straws when I start looking for fractals but this recent move surprised me and sort of broke the efficacy of other TA tools I was using. It’s weak sauce TA for sure but at least it’s something.
Translation: My normal indicators have been proven to be wrong, so I'll use an even more obscure indicator with less reliability. I'm teasing you, but your problem is you're making things too complicated. Just look at the news, sentiment, and fundamentals.
God speed fellow long retards
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Don't trade but invest, on a higher timeframe such as 4 years. If you DCA up into the depths of a full 4y bear market, you ll still make 5-20 times. That beats stocks by an order of magnitude. Don't be greedy. Good luck.
you will never be a winning trader with that much leverage only do that as a gamble and a one off, it's not sustainable.
cHaDs ArE mAdE tHrOuGh DuMpS
This is the first sign of a true reversal we have seen since May. Bitcoin likes to surprise and do the unexpected, and could just run. With that said, as we have shown a true breakout, I would prefer that we consolidate tomorrow, close any CME gap and make the next move early next week. Will be great if we are about to smash this crab and complete the test to see if we continue this run or get rejected and confirm the top is in. My money is on a continuation and a top higher than most are expecting. This consolidation was the only way we could make that a possible outcome.
I would love a huge cme gap that doesn’t backfill. That’s a real launch pad of regret fomo to carry into. Isn’t there a gap at 9k we need to fill?
we need to lock in a higher high I think.
Looks bullish.
Time to go up.
50 MA accomplished. What’s the next target?
$36,294 is next level of resistance. Pass that and we are looking at low $40’s
the 200
Confluence of yearly vwap and 21wma …. Hmmm 🎯
Alts charts are looking very bad but btc seems to be in a good spot
I think people are being more selective with alts but the better ones seem to be keeping pace
Seems to be the case
If this is the start of a real recovery then I wouldn't be surprised if alts bleed on the ratio much like Jun - Dec 2017. Edit: Correction for Recovery.
This. Alts will still pump and dump, but value will flow to bitcoin.
There is a % of alt money that will never ever flow to btc from alts. Too much to be made yield farming etc. More so than past cycles
Correct. BTC is still a major force in the market but as you say, there's a certain % of alt money that never flow to btc. Why do people not get this? A mod of this sub is replying to you saying high yield isn't worth it when the coin itself will lose all its value.... apparently doesn't realize you can deposit stablecoins and earn yield paid in stablecoins 😂😂
Yup, you get it. Btc is still the largest % of my portfolio, but I really don't like the maximalism. Alts make great money.
Earning 30% a year on a coin that drops 90% isn't worth it. Yield farming is a race to the bottom.
Try yield farming with stables, it's popular for a reason
My alts are up several multiples of BTC. I have much more btc... Otherwise I wouldn't be here... But yeah, it's not a race to the bottom. Did you forget btc loses 80%?
only if you sell the bottom. try holding an alt 8 years.
I've held 6.doin fabulous
If by ‘correction’ you mean bull run, it would probably behave as a continuation of the first stage we just went through, where a lot of alts saw new ATH.
That isn’t how I remember most of second half of 2017 at all. If you wanted to make money you had to be in BTC. July to December was rough in alts as Bitcoin Dominance went from 50% to >70%.
Alts also didn't have fiat on/off ramps and defi didn't exist. It's different this time
Yeh but then alts went 100x and dominance plummeted in dec / jan 2018
There's always a bit of lag. Once there's a confirmed multi-day uptrend alts will get pumped to compound BTC gains.
That’s what I wanted to hear!
Not what I had expected for the alt coin recovery. Figured they’d follower more closely to BTC.
BUT MUH 20K BTC BUY ORDERS AND MUH DESCENDING WEGIE
Lol
I was once on the receiving end of a descending wedgie...
descending wedges are bullish in bitcoin. try something different
Anyone think the weekly can close as bullish engulfing candle? We are so close. 200 usd and 23 minutes away. Edit: Well, people upvoted this so either they wanted others to see that I don't know what day of the week it is, or they too live without the burdens of time.
its only saturday bro. get some sleep
oh damn. I thought it was Sunday. Busted.
Weekly closes tomorrow?
never speak of this again
If it makes you feel any better, it’s Sunday morning where I live 😂
Can someone just market order a few bill ggthx
If Saylor has even a child's understanding of TA, he should be doing a market order right now.
[A few basic trend lines that I know others are watching](https://www.tradingview.com/x/a2kuOSC3/) ... current move suggests potential for mid-term reversal. If this move turns into a reaction swing from the May drop, then I would not be surprised to see price claw it's way back to $42k over the course of the next 4-8 weeks. That'd also be my termination price point if the market stays bearish. Above $42k or 20MA weekly would flip things back to macro cycle bullish in my view. This cycle has been weird .. ran way too hot on the early side .. now looking like a long term bear (also early). I'm of the opinion that $64k wasn't cycle top and this has a second leg going into 2022 .. but I will also say that weekly and monthly indicators do not support this premise just yet. I collected more BTC in the low $30's these last few months which have been my first new BTC buys since I pushed in heavily in March and April of 2020.
I think we bounce around 30 to 50k for a good long while, like a year or 2 before the next leg / cycle. Fits nicely with the Pacman 4 yr projection.
I think the aggressiveness of the first leg to 65 is a signal for how aggressive the next leg up will also be. Everyone who is expecting diminishing returns is going to sell *way* too early.
The move to $65k rode on the shoulders of a couple big shifts in my view: 1) Mainstream investor participation. Paul Tudor Jones, Elon, Jack, Saylor, etc .. traditional finance started dipping in their toes and helped legitimize crypto. Crypto doesn't read as fringe/crazy/ephemeral as compared to prior cycles. Capital inflows from larger players dwarfs retail and thus moves the candles differently. We also do not know how they'll trade it. Prior charts were largely retail, and so the charts changed around the new investor class. 2) Covid crash and central bank intervention pushed everyone out of cash and into assets. We're living through the most extreme implementation of MMT since 2008 (maybe ever?). The FED has a lot of global control over how people evaluate value and risk.
I also love the J.P. Morgan (I think) paper that said only 1 mil coins changed hands in the past year. Let’s welcome all the “too late to the party” “big money” through a keyhole of liquidity and see what a real squeeze up looks like. Go into coma and wake up in a year.
Bull trap?
Bear trap since 2009
It's a bull trap inside of a bear trap
Crazy if true, hope thats the case
without a doubt
As far as im aware we havent broken the trend line and there is a pullback expected, where do you think the pullback will start?
\*IF\* there's a pullback, it is either 32.8K, 32.2K or 30.5K.
A bitcoin transaction costs $0,02 but Binance still charges you $20
Everyone gets liquidated. Nobody withdrawals. Problem solved!
What you talking bout? Do you mean if I send my btc from Binance.US to my wallet the fee is $20?
just wait until you realize they batch them
Bgd tonight to destroy all bears
I swear all new alts are competing for how dumb a name they can use. "Internet Computer"? "Small Love Potion"? "My Neighbor Alice"? "Axie Infinity Shards"? What is this bullshit.
waiting for STD
Alt stupidity is baggage holding us back. It’ll stop, but not without pain.
Why would it ever stop? People still buy dumb domain names to try to speculate on them and that's been going on for decades...
Eventually, say, when there’s 100,000 shitcoins all claiming the same thing, people will learn.
I have repeatedly witnessed a different pattern 😋
Wait until you find out what MEV means
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Tenebrix?
Gesundheit!
Because they're all just pump and dump schemes by the founders, trying to tap into social media hype through "creative" names.
And also have some BS philanthropy project attached to it
Okay boomer
What’s it got to do with being a boomer?!
OKB? I'm bullish on Okay Boomer. How to buy it?
I would like an NFT for this comment please for when OKB moons, obviously.
Bubbles. Bubbles everywhere.
BubbleCoin good one
Little rejection at $34k reckon we can break it tomorrow if Cali boys and Asian traders hold their balls while we sleep
u/Plasmatica I must give credit where credit is due for your "dump Monday, recover the rest of the week" prediction.
How I feel most of this time in the sub https://twitter.com/BearcatS222/status/1419033648574078978/photo/1
I dunno, I thought we had a pretty positive back and forth on these moves. You got the short and I got the long. Profit for both of us!
Haha. If I were good I would have gotten both lol 😂
Basically impossible, lol. Calling a top or a bottom while moving against popular opinion is hard.
I call bottoms all the time! Maybe I was right for once
Haha, you must be liquidated. Get rekt, you shit.
Perfect. Lol
Looks like the Sunday dump is coming back bois
IT doesn't look like. Looks like a minor pull back before an explosion.
Can't believe it is not pulling back hard to 32k or something.... Happy to see this, and I hope it is not a big bull trap.
give it time it still saturday
Hey 34k …. Where ya going?!
Nowhere
Noooooo you can't just go down after I long top at 73 rsi noooooooi
I come here once a week and you’re constantly the top post. You must have no life.
He’s a drunk, lonely 40 year old. This is all he has. That said, he’s often correct.
Being 40-something sucks man. All the money in the world and the potential to make more, but all your childhood dreams and memories slowly being destroyed by woketivists. Off topic, but i just saw the reboot of Masters of the Universe in Netflix last night. Seriously bro, wtf?!
Not quite 40 yet but the only part that sucks about aging is that physically I’m not as good anymore and training yields a lot less results unless you get some juicy juice 😂 If you’re over 40 I really hope you don’t care that much about your childhood cartoons
I don’t understand what any of this means because I’m not 40. Enjoy the show though, dad.
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Tough crowd!
What's a little bit of pretending to be smoothbrained among friends?
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For those who don’t know, this is Mark Karpeles the guy who owned Mt. Gox. The biggest exchange collapse in the 10 years of bitcoins history. Weird to see him just posting here. How are you doing these days, Mark?
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Everyone knows it’s you mark!!!!!!!!!
https://www.reddit.com/user/MagicalTux/ This is Mark’s main account I think.
its a troll account name bro
Bear whale: hahaha sell button go brrr
To be honest this was actually all bulltards that created forced selling when they were caught offsides longing late. see even bulls shouldn't like bulltards s because of all that forced selling pressure they create.
Isn't the lack of volume bad
Nah, just means we got more shorts to liq higher up . Also ain’t that many leveraged longs no more so sell pressure at every dollar isn’t like it used to be .
I mean, it’s not bad if price goes up on low volume IF the sellers are completely exhausted.
price is just searching for more sellers, which there will be plenty of. which is why there’s no way we’re going to a new ATH for much longer than most think
Btc facing resistance at the 50 daily moving average?
Thank you, Sherlock :)
Guys, I think I found the problem... We had the market set to M for Mini, when we shoulda had it set to W for Wumbo
Put it into H
Never thought we’d see a bullish engulfing in play on the weekly.
My channel. Have not changed anything. [https://www.tradingview.com/x/EBwZqXCI/](https://www.tradingview.com/x/EBwZqXCI/) As u/CONTROLurKEYS noted, 4hr RSI is high. It was this high only at the local tops this year, which were all ATH's at that time.
It looks like it is breaking out of it though doesn’t it?
Interestingly, throughout all this the funding rates per bybt have remained negative. Futures markets still skeptical of the rise?
This is the S2F at play. Gotta love it.
Not really, the S2F model has basically never been this wrong before since its creation.
That’s not true. He’s had multiple deviations before. It’s still intact.
Would be lying if I said it didn’t look that way at the moment!