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RE: Crypto Dives AGAIN? Trading and Some Warnings

in #cryptocurrency7 years ago (edited)

I see the triangle as symbolic, only the upper line is important here - I wanted to show people that Bitcoin is in a triangle, or that it can be seen that way - because most don't so far.
If you want a line that touches some more wicks and candles, take the dotted one... the yello just being a horizontal that more or less touches an earlier resistance level and the point where BTC (and most coins with it) bounced at the new low.
It was a decisive bounce. I know because I had been pressing thumbs that it would fall lower, and it didn't happen. Real support lines if you're wary of an imminent further dip, are way lower.
But I haven't looked for them here, I don't fear the dip, I've been waiting for it as long as Mike Novogratz ;)

The blue and green lines are coming from lows in July and November, each touches another low on its way and this is simply where they all meet or get close to meeting, which may or may not be significant, I see them as possible trend lines - I've watched too many tries to determine a trend on a shorter term these last weeks and I think their angles were all aiming way too high.

I've also compared earlier years and I'm aware of the similarities - we should understand that it' s us who are making the market, if we decide that it will be a three year bear market, then exactly that will happen. Posting on steemit will not influence much, but the people who take turns in telling us that "bitcoin may dip to $1000" or "governments will eventually ban cryptos" or "crypto is a bubble, and the bubble is popping" have much greater power but if they're doing this to get a better entry level, then that makes me rather more confident than less.
Because it means that they do NOT want a prolonged bear market at all from a certain point in time onwards.
Apart from that, FUD will only last so long, it didn't have a lot of influence last year and buyer confidence can make it all useless.

All we need is some success, and my guess is we'll see hat in altcoins first, Ripple is breaking out as we speak. It's now testing the upper triangle border for the seventh time within 90 minutes, at $1.35 - just saying. Looks like a must-buy, it can hardly fall much lower than 1.28 and the breakout is a must soon. Ripple often looks good when BTC doesn't but there's no way to be sure., so maybe it will fall to 0.90

I'm mostly interested in Bitcoin as a moodo-meter for the entire market, and though we have a better situation financially/market cap with institutions coming on, BTC has been under direct attack from the BCH miner faction and other parties, and if they get us to seeing this situation like the one in 2014, a wet dream will come true for them.

Curves or no curves, Elliott or Gann, the real game is marketing. Let's do our thing.
For most, that means screaming "market withdrawal!" on youtube or here once a few rates come down, or critique-less hype of an exocoin. The market of the many is not always a good market as it's entirely dominated by senseless herd animal stampedes.