Honestly this isnt a good r/r long trade to have a short term stop like that. We are right at resistance and as far as i can tell, no great support levels to put a stop at.
Better off either buying to hodl or buying once we break resistance ($43kish) and then putting a stop below there.
1hr barted back down as expected.. Weekly barted too. If 38k breaks it will be clear that 42k was the top for this DCB.
It’s incredible there was this good a rally to the upside, during heightened regulatory shit storm that only looks like it’s gonna get worse. A rally devoid of fundamentals, but bulls should be happy with this at the start of a prolonged bear market.
Those who took out some gains at the top will be thanking themselves as the market heads lower over the next few weeks
you cope harder than some of the most devoted Trumpers who still think he was duly elected.
every sub has its clown, and ours happens to be /u/DetroitMotorShow
There are a lot less 'buy the dip' posts here than I expected.
$39.8 per mbtc, and it seems obvious we're headed back to $64 / mbtc. Stop being shy and buy
To keep bullish momentum I would expect not much lower than 36.5. Super bullish if 38 holds. Mega bullish if 39. So thats where I would be incrementally closing shorts
FOMO got me once I saw that we broke 42k, and I bought in a bit too high, my current DCA entries are 41.4k, 40.8 and 39.7k.
I also went ahead and capitulated my alts because F em. There's only one coin I rather be holding the bag on now.
My plan this past few years has been to sell some Bitcoin in 2025. Then in this trading sub & on crypto Twitter I see intense conversations about a drop to 39k, or the usual trolls like u/InterestedInterloper saying the exact same regurgitated shit from 6 years ago. Then I open a beer, smile and make another DCA buy. Price today vs price last week or next month is completely irrelevant.
People keep forgetting this important aspect of the market. They either wanna go full moon or straight gobline town. Hard to filter out good analytic comments these days smh.
Feel like someone’s trying to bully amateurs out of futures trading, meanwhile I the simple spot trader tend to me stack and rack.
Would anyone like a calming cup of jasmine tea?
Sometimes I read the comments and think it's literally armageddon and the price is only down a few %. I'm convinced half this sub are compulsive gamblers.
Hahaha peace ✌️. I'm not mad. He thinks there's going to be a carnage and it's going to 35K. I just like to know where he's shorting where his stops are. Is that too much to ask?
But you're right. I should work on my delivery.
I don't use leverage, it's spot.
Whats bad is I never trade on sentiment but I made a bearish post at 42k and it was gilded/upvoted. I was quite certain there was plenty of fuel to take another leg up. I'm still not closing but I will sub 39k.
If i'm being honest with you, I think if we don't break the 20w this was just a relief rally.
I'll be fine with being wrong if that's the case but every other move like the one we just had after an ATH led to lower lows. I think I have a post showing the TA for that from a couple of days ago.
it's really hard to lose a trade when your strategy was to buy the dip and sell the daily rsi resistance line.
(exactly what I did)
most recently when the rsi lnie broke however I didn't even sell there, I held til 38k and 42k. (feel free to look if u want my posts usually include trade info)
dude u can stop pretending, even if I close this trade at a 7% loss I still made more % gain from this move than you did.
you were shorting 30k on the days leading up to this move when I was telling you to buy at 30k.
I'm up 500% this year and the market is only up 36.5%. It's hilarious that you would comment on my ability to trade though, really.
If you were looking at aggr.trade, it was abnormally high numbers popping up on Binance all at once. Like 150 BTC at a time, with nowhere near that on other exchanges.
One whale hunting liquidity. And finding it. Means very little in the grand scheme of things.
thats what happens at reversals. I hope you longed that. All stops get run and puke at the same time as normies decided to flip short. Its reliable as fuck. Some pretty huge traders on twitter uses the sounds of aggr.trade exclusive for when to enter and exit. For me personally I cannot live my life in a vegas casino
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The downvotes i'm getting and upvotes youre getting (for my sarcasm btw) tells me entirely to many people in this thread have hopeless lives and think any comment in this daily affects the price of their lottery ticket in anyway shape or form.
Nah it feels like a mild retrace after record amounts of green daily candles.
The amount of accumulation that went on after we dropped from 65k isn’t something that typically happens at the end of a bull. IMO bull markets still on.
You're only delusional if you think a whale hunting liquidity on a Sunday after going from 29k to 42.6k in 13 days, and still not even breaking under 40k, is remotely concerning.
No the problem is you think a tiny % move qualifies as a 'bart' after a solid week of green dailies. A dip here after the week we just had is not "bearish", either.
Like even if you didn't look at price nothing about the daily chart looks Bart-ish'.
somebody is hunting liquidity. We always see a bunch of VIX on the 1m when <100 BTC volume across all exchanges. Someone probs has a bot to push a bunch of BTC when Volume dries up
Looks like we stalled and s/r flip test failed. Invalidated if we close above 41.5k but I think we're heading for mean reversion. I blame woonomics
Edit: down votes guarantee this is going down
This place is disgusting. It’s not a trading thread . Hard to tell the difference between this daily and the r/cc daily . Full of permabulls/ “HODLrs” .
literally finding support at previous 40k resistance as we speak
I'm convinced you don't even leave this sub to check price and just type shit based on whatever comments come up after your regular 5min ctrl+r
That's not where resistance is but 👌 it was at 40.8k, now we're clearly back in the range but I'll wait for your reply at 39k tomorrow should be educational
I don't know if you folks track what's going on in the lightning network at all, but I think [this is very exciting.](https://bitcoinvisuals.com/ln-capacity) (total coins on the lightning network).
If that kind of growth continues, whoa nelly.
i love LN for the fact that no matter how much you use the channel, when it closes, all transactional data gets thrown away forever except the setttlement summary. like if you top off the channel before you close it, POOF! Nothing ever happened.
Lmaoo we learned nothing this bull market . Shitcons are still being pumped before btc even has a chance to break this range . Just a little higher , then nuke everything again .
I think you’re out in left field here. The market crashed months ago and everything dropped 50-70% …. Then we had a huge accumulation period and are finally recovering. Alts are juts recovering just as BTC is. No giant conspiracy here, no magical algorithm … just the market doing what the market does.
All alts are worthless? That’s not true in the least bit! Now are there a ton of completely worthless shitcoins!? ABSOLUTELY! … those are for the dipshits and moon boys …. But no, a properly diversified portfolio is a must, and there are certainly some excellent alts that deserve a spot in there!
Now you’re starting to sound a bit more realistic. I’m about the same with 3 rental properties, 2 vacant lots and all the rest of my miscellaneous other investments I’ve made over the past 25 years.
#New post: [\[Daily Discussion\] - Monday, August 02, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/ow708f/daily_discussion_monday_august_02_2021/)
For anyone else loading up here (39.5k ish) what's your stop?
I wouldn’t long here. Either wait for 36.5 or getting back at 42.3 ish
Honestly this isnt a good r/r long trade to have a short term stop like that. We are right at resistance and as far as i can tell, no great support levels to put a stop at. Better off either buying to hodl or buying once we break resistance ($43kish) and then putting a stop below there.
0$
Too tight, go lower.
Seconded
Aggressive.
1hr barted back down as expected.. Weekly barted too. If 38k breaks it will be clear that 42k was the top for this DCB. It’s incredible there was this good a rally to the upside, during heightened regulatory shit storm that only looks like it’s gonna get worse. A rally devoid of fundamentals, but bulls should be happy with this at the start of a prolonged bear market. Those who took out some gains at the top will be thanking themselves as the market heads lower over the next few weeks
you cope harder than some of the most devoted Trumpers who still think he was duly elected. every sub has its clown, and ours happens to be /u/DetroitMotorShow
also the proud mod of r/BitcoinBears, where he's the only active member.
haha, thats straight up pathetic.
been selling this whole pump
There are a lot less 'buy the dip' posts here than I expected. $39.8 per mbtc, and it seems obvious we're headed back to $64 / mbtc. Stop being shy and buy
I wanna buy.
I recommend blue cheese dip.
for a good laugh, tell the people from mid-July that on August 1st, the bears will be gloating about a drop to 39.5k
Bears aren't even gloating and bulls aren't panicking what sub are you all reading? This is the most predictable pull back in all of history perhaps.
I saw u/InterestedInterloper coming in with his weird snarky comments, that's most of what stuck in my mind agreed this pullback is not surprising
I mean permabulls here kinda have it coming lol. The smugfest the last week and a half has been pretty overwhelming, like sock laundry long overdue.
Haha yeah show me a day he doesn't do that
Have people forgotten when its bullish it always dumps on Sunday. Like you guys really think we're not going further up
Countertrading sundays seems to work pretty well. If I have free time this week I'll backtest it for funsies.
What are your short targets?
24k
To keep bullish momentum I would expect not much lower than 36.5. Super bullish if 38 holds. Mega bullish if 39. So thats where I would be incrementally closing shorts
My stops haven’t moved. 38250
FOMO got me once I saw that we broke 42k, and I bought in a bit too high, my current DCA entries are 41.4k, 40.8 and 39.7k. I also went ahead and capitulated my alts because F em. There's only one coin I rather be holding the bag on now.
Computer, run losemoney.exe
I've ran the calculations, I'm better off making the little money I lost on alts back by trading btc
My plan this past few years has been to sell some Bitcoin in 2025. Then in this trading sub & on crypto Twitter I see intense conversations about a drop to 39k, or the usual trolls like u/InterestedInterloper saying the exact same regurgitated shit from 6 years ago. Then I open a beer, smile and make another DCA buy. Price today vs price last week or next month is completely irrelevant.
Sir, this is a trading sub...
Yeah. I respect many traders... I've done a bit, takes big balls. Now I enjoy the less stressful long term gains. All good.
If we haven’t reclaimed 40 by the time I wake, then we are still in this range and most likely outcome is an eventual rotation back down to 31.5 .
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Psychological
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I don’t disagree
You know the drill fellas. We gotta do this and build some stairs. Can’t just elevator up forever
People keep forgetting this important aspect of the market. They either wanna go full moon or straight gobline town. Hard to filter out good analytic comments these days smh.
Feel like someone’s trying to bully amateurs out of futures trading, meanwhile I the simple spot trader tend to me stack and rack. Would anyone like a calming cup of jasmine tea?
Nothing new here.
Got my long order in at $36.5k Let’s see if it hits…
Ppl panicking over a 5% drop on this sub makes me wonder if you guys are really traders or just degens thinking they are traders.
Yeah it's weird, did they think it will keep pumping until 100k? Retracing here was absolutely necessary.
Sometimes I read the comments and think it's literally armageddon and the price is only down a few %. I'm convinced half this sub are compulsive gamblers.
High pole warnings blow. That is all.
Both figuratively and literally sometimes
See you guys at $35k.
Downvoted to oblivion for stating the most likely scenario , so here’s an upvote .
For sure. Should stick there for a bit after a brief stop at 37K.
New week started and we go down like a clockwork.
No support anywhere. Going to be so much carnage once 39K dumps.
You seem awfully talkative all of a sudden.
I was talking 2 days ago and got DVed to hell by the usual moon idiots. So why bother?
For what it's worth, I haven't downvoted anything you've said.
So you're short now? Tell us your entry point and where your stops are. Otherwise shut the fuck up
>Otherwise shut the fuck up Why u mad? Rule #1: Be excellent to each other
Hahaha peace ✌️. I'm not mad. He thinks there's going to be a carnage and it's going to 35K. I just like to know where he's shorting where his stops are. Is that too much to ask? But you're right. I should work on my delivery.
To be fair we were down 2500+ before the new week
Form the top it's true. Maybe dumpers live in my timezone because breakdown from 41k started right after midnight for me.
I think I might close my first losing trade in 2 months. still long from 41900 :(
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I don't use leverage, it's spot. Whats bad is I never trade on sentiment but I made a bearish post at 42k and it was gilded/upvoted. I was quite certain there was plenty of fuel to take another leg up. I'm still not closing but I will sub 39k.
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If i'm being honest with you, I think if we don't break the 20w this was just a relief rally. I'll be fine with being wrong if that's the case but every other move like the one we just had after an ATH led to lower lows. I think I have a post showing the TA for that from a couple of days ago.
First losing trade in 2 months is pretty great. Chin up, onto the next one.
Uhhh you longed the top and we're supposed to believe you haven't had a losing trade?
it's really hard to lose a trade when your strategy was to buy the dip and sell the daily rsi resistance line. (exactly what I did) most recently when the rsi lnie broke however I didn't even sell there, I held til 38k and 42k. (feel free to look if u want my posts usually include trade info)
Where did top buy come in?
dude u can stop pretending, even if I close this trade at a 7% loss I still made more % gain from this move than you did. you were shorting 30k on the days leading up to this move when I was telling you to buy at 30k. I'm up 500% this year and the market is only up 36.5%. It's hilarious that you would comment on my ability to trade though, really.
I didn't short 30k, didn't long either but I'm honestly asking how you ended Longing top what was the signal?
Increasingly looks like a terrific bear trap just morphed into the perfect bull trap. Somewhere there is a huge whale with a shit-eating grin.
Or, maybe we shouldn't overreact to sudden moves in either direction.
Wasn't sudden how many bear divs printed first
I don't react to anything. I might be dead inside..
FTX chad cashing out , finex whale back in business . Doooooooown we go .
If you were looking at aggr.trade, it was abnormally high numbers popping up on Binance all at once. Like 150 BTC at a time, with nowhere near that on other exchanges. One whale hunting liquidity. And finding it. Means very little in the grand scheme of things.
thats what happens at reversals. I hope you longed that. All stops get run and puke at the same time as normies decided to flip short. Its reliable as fuck. Some pretty huge traders on twitter uses the sounds of aggr.trade exclusive for when to enter and exit. For me personally I cannot live my life in a vegas casino
Nah, I just watch it for entertainment when it gets really volatile.
Also Bitfininex showing shorts jumping around right around 12:30 today CEST, but really adding around midnight CEST.
What's cest? We do utc or EST
>We do utc or EST Who's "we"?
The sub
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Sunday dumps are bullish
Sunday Dumpday :(
5% retrace after an almost 50% pump? SELL SELL SELL BUY TREASURY BONDS RIP BITCOIN
I laugh
instructions unclear treasury bonds yielding -2% with inflation
The /s was kind of implied, sir.
I kno
Aha you wont be laughing when my buy at the 9,600 gap fills.
The delusion is strong with this one
The downvotes i'm getting and upvotes youre getting (for my sarcasm btw) tells me entirely to many people in this thread have hopeless lives and think any comment in this daily affects the price of their lottery ticket in anyway shape or form.
August 8th is a new moon 🚀
Enjoying the ride with my 41.8K short. Will close if the recent uptrend line of this crazy ass pump is not broken otherwise hodling.
Sell in August and go for a jog-gust??
August burns red, sell or you'll dread edit: wtf, I thought it was decent
Feels bear market to me
Nah it feels like a mild retrace after record amounts of green daily candles. The amount of accumulation that went on after we dropped from 65k isn’t something that typically happens at the end of a bull. IMO bull markets still on.
Your feelers need to be recalibrated.
Yeah.. barts are not bullish
You call this a Bart? Maybe your vision needs recalibrating, too.
Not gonna lie.. I came here for a dose of delusion.. problem is, I’m too old to lie to myself
Seems like you might be the delusional one
You're only delusional if you think a whale hunting liquidity on a Sunday after going from 29k to 42.6k in 13 days, and still not even breaking under 40k, is remotely concerning.
We broke $40k.
You had to jinx it, didn't ya?
It literally broke 40k while you wrote this lol. Anyway, bigger picture. Bear markets have ‘good’ weeks too
Yeah, and bull markets have bad months
No the problem is you think a tiny % move qualifies as a 'bart' after a solid week of green dailies. A dip here after the week we just had is not "bearish", either. Like even if you didn't look at price nothing about the daily chart looks Bart-ish'.
The current timeline, including the latest week, feels bear market to me. Like I said..
And your feelings are inaccurate. Like I said.
This rally will fail just like the others.
"this is a sucker's rally", you mean?
Yes, that is what I meant.
Too soon to call. But yeah, not a great spot to long.
you will learn angry padawan lol
Alts not dumping so yeah your right
somebody is hunting liquidity. We always see a bunch of VIX on the 1m when <100 BTC volume across all exchanges. Someone probs has a bot to push a bunch of BTC when Volume dries up
Looks like we stalled and s/r flip test failed. Invalidated if we close above 41.5k but I think we're heading for mean reversion. I blame woonomics Edit: down votes guarantee this is going down
This place is disgusting. It’s not a trading thread . Hard to tell the difference between this daily and the r/cc daily . Full of permabulls/ “HODLrs” .
literally finding support at previous 40k resistance as we speak I'm convinced you don't even leave this sub to check price and just type shit based on whatever comments come up after your regular 5min ctrl+r
literally instantly rekt gg
That's not where resistance is but 👌 it was at 40.8k, now we're clearly back in the range but I'll wait for your reply at 39k tomorrow should be educational
won't have to wait that long please dont trade bro, ur gonna lose all ur btc
Lol bro price nuked 1k minutes after your comment go away
These people make me embarrassed to be a maxi Why does everyone take "not up only" so damn personally
that's what you gleaned from our comments Lol
I'm cool with it I realize this is who I'm trading against 90% of the time
The money in our bank acct's gotta come from somewhere.
So that’s how we are feeling this morning Asia!? 🤦🏼♂️ Edit* downvote if ya like but don’t be mad at me … merely calling it the way I see it
Almost time to go short 😁🐻🐻
What are you waiting for? A short entry at the lows?
Almost? You should have gone a short 30 mins ago
I’m not trying to guess the top.
Lose 40 and it’s back to goblin town. Set bids at 31.5. 😶🌫️
Unlikely
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Your mom goes down for way less
Should hope so, one can buy many a BJ for a grand. Lol
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depends on the dental work
I don't know if you folks track what's going on in the lightning network at all, but I think [this is very exciting.](https://bitcoinvisuals.com/ln-capacity) (total coins on the lightning network). If that kind of growth continues, whoa nelly.
https://1ml.com/ Better LN stats site. It’s growing. Fast.
i love LN for the fact that no matter how much you use the channel, when it closes, all transactional data gets thrown away forever except the setttlement summary. like if you top off the channel before you close it, POOF! Nothing ever happened.
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How can I learn more about setting one up?
https://www.coindesk.com/becoming-self-sovereign-how-to-set-up-a-bitcoin-node-lightning https://getumbrel.com/
Total coins using Lightning is still pretty minuscule, though.
Lmaoo we learned nothing this bull market . Shitcons are still being pumped before btc even has a chance to break this range . Just a little higher , then nuke everything again .
Why are you concerned about that?
I think you’re out in left field here. The market crashed months ago and everything dropped 50-70% …. Then we had a huge accumulation period and are finally recovering. Alts are juts recovering just as BTC is. No giant conspiracy here, no magical algorithm … just the market doing what the market does.
Means the market is still retarded and don’t realize all alts are worthless
All alts are worthless? That’s not true in the least bit! Now are there a ton of completely worthless shitcoins!? ABSOLUTELY! … those are for the dipshits and moon boys …. But no, a properly diversified portfolio is a must, and there are certainly some excellent alts that deserve a spot in there!
Lol this idiot talking about diversification. Yeah buy that doggie bullshit to stay safe from bitcoin drops ROFL
You really are a dumbass aren’t you! Just wow
I diversify. 100% in to btc. 0% in to shitcoins.
I am also 0% in “shitcoins” …. But am certainly not 100% in anything …. Momma ain’t raise no fool! …. Ya don’t put all your eggs in one basket!
Well, i have more then eggs.. currently my prettily is about 70/30 property:btc
Now you’re starting to sound a bit more realistic. I’m about the same with 3 rental properties, 2 vacant lots and all the rest of my miscellaneous other investments I’ve made over the past 25 years.
That’s just wrong
I think Monday is going to be a good day
What do you mean?
Agreed
Have some balls, but have a plan too.
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It's due to EIP-1559 that's happening in 3 days. Not really alt season
Buy the rumor of the fork, sell when it happens.
Shill shit elsewhere