Cryptocurrency’s taking a swan dive

[Ricboff]

correction - $30,250 ish if the bottom of last Wed's mother candle

 

[Michelangelo]

Is BTC trading right now?

 

[Ricboff]

yes, i think it was created for traders, lol...just kidding. The new weekly candle begins every Saturday at 8pm. The new daily candle begins at 8pm each day......its madness , like a 24 hr casino

https://www.investing.com/crypto/bitcoin/chart

 

[SmallDaddy]

its desperately trying to base- FOUR inside daily candles since wed bloodbath. $30,150 is the bottom of wed's mother candle, if it breaches this?....it will get fun.....the 4 hour chart looks good, cuold run to $38

Traders are saying low 20's when they jump in

and 1200 ether

 

[SmallDaddy]

Cathie "chopping up my bankroll" Wood said two days ago that it was capitulation.

I knew right then and there its going lower.

I have seen enough... she is an idiot

 

[Ricboff]

which traders are saying low 20's? Trading is all about probability. Not certainty.--it needs to break last Wed low to even think of that, nothing is suggestive with signifecant probability that it will, pure speculation.

 

[SmallDaddy]

Sure nothing is certain

 

[SmallDaddy]

Same guy I posted above ( and quite a few more)
(in different video tho, I belive)

I am not saying its gonna happen.

What I am saying that these things seem like as 'self-fulfilling prophecies'

The Fed is not jumping in to bail anyone out

 

[Michelangelo]

yes, i think it was created for traders, lol...just kidding. The new weekly candle begins every Saturday at 8pm. The new daily candle begins at 8pm each day......its madness , like a 24 hr casino

https://www.investing.com/crypto/bitcoin/chart

Thanks Ric. I track it on Yahoo but they don't show current trading.

I just bookmarked that site.

I'm just an observer. Wish I got involved a long time ago when guys were touting it here. I remember thinking I had missed the boat when it was trading around $300.00. haha Right.

 

[SmallDaddy]

I love watching all these 'Youtube Crypto experts' saying how we are still on the left side of the market cycle chart, when
its clear we are on the right side.

The last two days were denial, we are entering fear and THEN capitulation and then rebound... eventually

That is my story and I am sticking to it

 

[SmallDaddy]

 

[Ricboff]

Same guy I posted above ( and quite a few more)
(in different video tho, I belive)

I am not saying its gonna happen.

What I am saying that these things seem like as 'self-fulfilling prophecies'

The Fed is not jumping in to bail anyone out

k, just delineate pure speculation from probability. From the chart (which is THE tool of a trader) nothing is pointing to a break of last wed low with significant probability . i dont watch those vids, what is the reasoning from these traders that last wed low will break?

 

[SmallDaddy]

I am not a chart guy but I believe their reasoning was that low twenties is some prior resistance point, or whatever.

I like that guy. I only discovered him a few months ago. But in 10 years of following people he is the first one, that gets things right more of then
getting them wrong.

This is just my two satoshies (see what I did, lol)... YMMV

 

[Ricboff]

its desperately trying to base- FOUR inside daily candles since wed bloodbath. $30,150 is the bottom of wed's mother candle, if it breaches this?....it will get fun.....the 4 hour chart looks good, cuold run to $38

that call was based on probability. Two things happened that indicated a likley short term chnage in direction; forming a double bottom as it approached last wed's low (the mother candle) AND a candlestick pattern , a morningstar pattern formed which it is a high probability reversal pattern. why $38 target? an area of resistence. This was a counter-trend trade , always more dangerous than trading with the trend. . A roughly 9% winning trade

 

[KennyB]

The chinks have been manipulating the shit out of the cryptic.

 

[Ricboff]

actually , i'll add from the weekly chart as the monthly isnt of much use in terms of support levels other than fibo. Illustrated the monthly to show the nutty parabolic move

weekly;

two critical areas (the weekly chart ends Sat at 8pm) ;

$40,350 ish zone; this is the area where it rested for 5 weeks before breaking again to the upside (late 2020, early 2021), re-establishing above this is good
$29,000- $30,000; not surprisingly the tail of this bloodbath bounced off here.

so if it cant hold $40,350 then it may play inbetween those 2 above zones.

its high was approx $64000 ish, so obviously a deep retrace . Actually a retrace and HOLD of the .50 fibo $37,000)or .61 fibo i($31,000) s healthy , again parabolic moves arent stable and usually mean the rubber band can go the other way just as violently

that's what its doing. the weekly candle will close Sat at 8 pm, and it looks like it will NOT form a lower low, so likely to base, consolidate. Its pretty clear as to levels.

On the daily chart -a remarkable NINE inside candles dating back to the bloodbath candle/day (05/19)( that is-- has not broken the high or low of that candle for 9 days now)-- fuckin 9!! and its formng a wedge..whne it breaks to either side it likely will be a significant break

 

[valium]

that's what its doing. the weekly candle will close Sat at 8 pm, and it looks like it will NOT form a lower low, so likely to base, consolidate. Its pretty clear as to levels.

On the daily chart -a remarkable NINE inside candles dating back to the bloodbath candle/day (05/19)( that is-- has not broken the high or low of that candle for 9 days now)-- fuckin 9!! and its formng a wedge..whne it breaks to either side it likely will be a significant break

Ricboff, When you say it has not broken the high or low of that candle for 9 days and is forming a wedge and when it breaks to either side of that wedge it will be significant. Does it need to break the wedge on a closing basis either daily or weekly or break it intraday?
i don't even know what the closing times for Bitcoin is since it trades 24/7.

 

[Bozzie]

The chinks have been manipulating the shit out of the cryptic.

When the plan is creating the first reserve currency why support Bitcoin...not manipulation as much as a plan.

 

[Bozzie]

When the plan is creating the first reserve currency why support Bitcoin...not manipulation as much as a plan.

should have said potentially the first "digital reserver currency" It's the long term Chinese plan.

 

[Mr_Mark]

Shiba Inu is looking interesting