After the better part of a year, we're literally a week or two away from the end of this thing. After all the fucking misery and bullshit we've been through, and with the uncertainty of what lies ahead, how do you all feel? What do you think comes next?
I'm a bit apprehensive. For most of the year this thing has looked like a descending triangle, which usually breaks downward. With the massive dump from 7.4k at the beginning of this month though, we found a higher low at 6.1k. Does this invalidate the formation? My gut tells me we'll be rejected again at 6.7-6.8k. If a new rising bottom trendline is in play, that bottom would be around 6.3k. If this holds for more than a day or two, we could be looking at the beginning of a glorious new meme. Our salvation. A Sminem Line, if you will.
How would you all feel about the prospect of an ascending triangle? A FOMO rush to 10k, a hard dump back to 6.5k, followed by months and months of an unbreakable 10k until the rising bottom squeezes the price to break out. By then, all the institutional shit should be in place ready for the golden bull.
Would that be better or worse than us going straight to 4-5k or lower next week? At least in that case, the months of wondering if we're all fucked would be over.
TA is basically a joke apart from when it's obvious
Weekly volatility has been the best guide for finding bottoms in Bitcoin, and we're probably not going any lower. Last time 10% the entire mined supply of Bitcoin was stolen and then sold into a bear market, doubling inflation. How the fuck are we expected to go through that again?
Caleb Anderson
Cool, but none of this looks like happening in the next few weeks to address the issues discussed in the article:
That's... I would not actually bet a nut that this couldn't happen.
Luis Rodriguez
Isn't there still supposed to be a lot of SR/MtGox coins out there to still be dumped? Although any other old whale wallet coming to life after years will cause a panic.
Looks alright. If we did confirm higher lows though, I have zero confidence that we wouldn't collectively screw it up by overheating the market again. A pace like the first quarter of 2017 would be nice, giving us a new ATH by end of next year.
Easton Morris
Glad I'm not the most optimistic person in this thread.
Ryder Edwards
Pump to 7200 (out of the meme triangle), to liquidate all shorts/trigger stop losses, followed by the immediate dump back inside the meme triangle, leaving a massive wick behind. Then a capitulation of some sort. Probably a massive red dildo to 4k, followed by the 2k green dildo with a massive buying volume that brings us above 6k again. Then trend reverses to positive. Some upside to 9k or so, everyone gets excited, anticipating the gains from a golden bull run. But btc dumps to 6k again. Everyone starts to throw in the towel, saying this shit will be at 6k forever. Then after a long consolidation phase a massive green dildo with ever increasing buying volume brings BTC up to 12k overnight. And it keeps going up, with minor corrections. ETFs get approved, Coinbase lists alot of altcoins, goverments announce they wont be cracking down on crypto. Previous ATH of 20k gets breached easily, and after a week of consolidation BTC establishes a new support at 20k. Screencap this.
How did you learn all of those concepts, terminology and analysis? Just curious, cause I want to learn and understand and idk where to start with the little time my cuckwage job leaves me.
Evan Jones
You had me right up until the part governments decided not to be cunts. We can still dream. I'd look forward to the Bizonacci videos.
Babypips is forex-focused, but most of the principles apply to crypto.
Robert Rogers
I'm going to bed now. Don't break out of the triangle without me, user.
Brody Long
Aight thank you user. I want to learn about the concepts, but I will probably not do so anyway cause I'm too tired and lazy.
Oliver Parker
its ok, thats just people wanting to use jargon for its own sake, no one has a damn clue about whats gonna happen on this market or any for that matter
Colton Perez
>For most of the year this thing has looked like a descending triangle zoom in a little
