You guys never learn. 6k is the support for bitcoin in order for crypto to flourish. Whales, exchanges, wall street or whatever you want to call them dump on the Asian timezone then buy back in in the US timezone to hold that line. Day's not over until it's over. I knew this was a fakeout from the start. Been watching the charts for months and notice this when it gets at this price point ever since the SEC approving bitcoin.
Don't get me wrong, this is NOT the golden bull run by any stretch of the imagination but it IS the price point you have to be looking out for when bitcoin drops and nears this line. Expect 6k-9k ranges for MONTHS on end.
it bounced because it was falling too long, not because of this is strong support meme sub-$5k before october
Hunter Ramirez
you think a support holds forever, retard boy? It gets weaker each time it tests it. Wait for the 7k backtest for shit to hit the fan
Julian White
Keep dreaming son. Exchanges now full damn well that if they allow BTC to drop below that, people won't be able to range trade other coins. Don't expect moon missions now but do expect 2x-5x on altcoins existing out there trading in range. There's a reason why altcoins move higher percentages than buttcoin and it's because traders are moving to trading alts with BTC as there are no other pairs available yet as of this point.
Blake Cox
please pump it back to $7k otherwise it can collapse any day
Isaac Adams
Stay poor. Exchanges live and die on people speculating. user is kinda right. They will never let this shit die and drop below that.
The mining difficulty was way lower. Bitcoin might actually die if it hit $3000
Angel Roberts
it isnt profitable to mine at 4k, so yes.
Kevin Taylor
>>what are mining costs?
Difficulty adjustments are a thing
Nicholas Kelly
>6k strong support AHAHAHHAHAHAHHAHAHAH
Isaac Carter
mining is still profitable down to 4k in many countries
Carson Taylor
People often forget that there are 24 hours in a day, not what candles you see on a computer screen in your hourly charts. A day's not over until it's over. A day's closing is more important dumbfucks. 6k just held the line and it has served its purpose well. Expect bitcoin to range trade.
it will drop because there are too many retards like you who believe it wouldn't you can't buy cheap at the bottom if you don't scare the shit out of morons
Caleb Ward
Except bitcoin is now up higher than yesterday's closing. Asian market dumps and creates panic sellers, US market then pumps and squeezes shorts before finally rising back in its range. Like fucking clockwork.
A day's not over until it's over. Read genius. I say it has held the line pretty well. It can't break through and in fact just erased the red that the Asian markets have dumped all day.
Ethan Diaz
it continue dumping already
was it when BTC broke 6 k support line, does that mean that BTC is going to 5 k?
Charles Collins
how's hodling meme working for you? because shorting for 6 months was great
William Perez
BTC unfortunately is still used as a primary trading pair for many alts. That's probably the reason why they won't let this shit die. There's just too much at stake for exchanges and miners if they just let it free fall without intervention.
Colton Brown
There is no closing in crypto.
Grayson Foster
>thinks HODL is the only way to make money on the market Holy shit what a brainlet. There are alts and range trading but you're probably too low IQ to figure this out.
Anyone else confused about the amount of 6s in every TA.
Bitcoin is not the devil's coin is it ?
Josiah Robinson
>he still thinks about making money in crypto after ponzi went bust keep coping buddy
Luis Walker
If it goes to 3k exchange registrations will drop to zero. Crypto website traffic will drop to zero. Shitcoin devs will go back to apps as their ICO funds become worthless. Basically total death. Bears are deluded.
>If it goes to 3k oh no, something that was $0.1 going to $3k means it's dead t. ath buyer
Aaron Jackson
>literally a pleb Here's a free lesson brainlet boy. This is your typical OMG coin trading in range. You can 2x your portfolio trading in range even in your sideways market. I typically charge for advice and lessons but for you, I'd happily school you for free.
>I typically charge for advice and lessons coping AND larping? nice how much time you spend looking at this charts hoping regreting you haven't sold before to have any money to buy now?
Josiah Sullivan
I don't know why you think it's larping. If you know how to read charts you'd know exactly what I'm talking about. Furthermore, what do you think all those OMG shill threads were all about? Stay poor brainlet
Did you change all the 7s in that pasta a week ago to 6s?
Pretty sure I saw this pasta with 8s and 9s too.
Parker Perez
This and this. It gets weaker with every test. We'll slowly bleed all the way to $3800 for 2 years.
Imo the bubble burst. That was the fucking moon if you didn't make it by the time bitcoin went from 1 cent to $20,000 you are the last fool standing and won't make it.
Isaiah Brown
Think about that. You had an opportunity to buy bitcoin since 2009-10-11-12-14-14-15 and fucking blew it lmao
Michael Peterson
OMG shill threads? what is it, 2017?
Joshua Roberts
where
Aiden Ramirez
Saying the price of Bitcoin won't go below a certain price because of the cost of mining is like saying the price of my shit won't go below a certain price due to the cost of the food I eat.
I would ignore country averages for power , especially countries with a large rural/urban divide. I would guess if you are on hydro or nuclear power with a special contract with the producer you could mine at a fantastically low price.
This is just like any other mining operation, when the price drops the least efficient miners stop producing and go to stand buy while the most efficient continue to mine.
Some of the inefficient miners won't make enough money when they are operating to cover their fixed cost when they are mothballed and will lose money in the long run but fuck them, they made their calculated risk.
Jason Collins
this. it's funny really, bitcoin is clearly based on Austrian economics monetary theory but Satoshi built in a little bit of labour theory of value with mining - for the brainlets I guess
I think we go down more. I think we will see the real despair at sub 3k or even 2k, you can still range trade your shitcoins there, it's just the range that changed kek
Joseph Evans
What am I looking for on this chart I see the range, the swing, but how do you call the tops and bottoms? Do you still have long term holds and range trade with a % of your stack?
Christopher Johnson
Your brain.
Logan Campbell
Hurr durr Sandra come over here, quick! I totally burned this guy on the internet. What a doofus.
Benjamin Walker
>miners will rather immediately go insolvent than operate at a loss for a few months hoping for another bullrun
This post proves you've never held a single coin in your life. You're just butthurt for missing the opportunity to make millions and thats why you make these salty posts in a mongolian image board.
Benjamin Reed
LMAO. You think normies will ever EVER touch that shit again after a 90% retrace? We're already at rock bottom levels of interest. And BTW if BTC goes to 3k, alts are all going to break new ATLs. 5.8k is the floor in your lifetime.
Angel Watson
>he thinks that the US/Europe matter to crypto Wake up, burger.
Kevin Turner
>LMAO. You think normies will ever EVER touch that shit again after a 90% retrace?
They literally did when BTC dumped from 1130$ to 150$
Are you retarded or are you just acting like one for fun?
Benjamin Harris
Normies didn't even know BTC existed when it dumped to 150. Most of them only became aware of it during the 2017 bullrun.
Logan Perez
>Normies didn't even know BTC existed when it dumped to 150.
You retards say that every cycle. 'Normies bought in on this one so it's not happening again.' Shit people were saying that in 2011
Mason Mitchell
>Normies didn't even know BTC existed when it dumped to 150.
Yes they fucking did. Even our backwater evening tabloid made news about bitcoin in 2013.
You're just deluded nigger.
Evan Perry
I heard of silk road before I heard of bitcoin. Bitcoin was what people used to buy drugs off using it. It was used like money then. Now it isn't because 1 bitcoin can buy you a used car. The bull run is making people think twice about not only buying bitcoin, but whether or not they even want to spend it on anything. They see how it went up that high a few times so they are buying to hold until 2030.
Camden Campbell
I am telling this since months, but nobody fucking cares because their monkey minded brains cannot comprehend objective views, when you have already sold or you are sitting in an overleveraged short position.
6k is the bottom. A clear quadra bottom and it already bounced back up. Doesn't change a thing that we might be in a sideway / bear market for several months
>I am coping with this since months, because my monkey minded brain cannot comprehend objective views when you hold or you are sitting in an underwater long position it will be majestic when 6k level finally breaks and last bastion of delusion will fall the selloff will be so great that's how we get to $4k you all deny so hard
Alexander Edwards
How does it feel to miss the opportunity of a lifetime twice and then instead of wisening up you miss it the third time due to all the salt from your previous failures?
Cameron Mitchell
The valuation of 1 BTC is not the problem. Rather people are switching away from it due to 1) transaction fees and 2) weakness of BTC privacy.
Daniel Jackson
Except it won't break and we'll have waves of suicides as people realize they could have bought the bottom on four or more different occasions.
It happened every single time during btc's short existence.
Josiah Sanders
what 6k support? it broke what followed was a pathetic short squeeze - we're going straight for 5k nigger - when and how fast, fuck nows
you're in for a surprise faggot ... if we go for 5.4 its likely going for 4.4k if that is gone ... meet and greet 3k, if that is gone it will get real rough ... around 1.5k likely point of no return
Leo Hill
5850 that's all I will say here
Jordan Edwards
The support that was tested 4 times. That support.