I got some lines in the water...
Attached Image (click to enlarge)
1
- #23
- Jan 16, 2021 6:49pm Jan 16, 2021 6:49pm
- Joined Aug 2018 | Status: Mooing | 1,114 Posts
I got some lines in the water... {image}
- #26
- Jan 25, 2021 4:15pm Jan 25, 2021 4:15pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
We should be back near $40K this week if I'm properly understanding this market. 
- #28
- Jan 26, 2021 12:22am Jan 26, 2021 12:22am
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
Interesting theory. A supply shortage could explain why the volume levels have not seen exponential growth during this rally - something we saw in spades during 2017. While volumes are just barely at an ATH right now the price velocity on that volume is really something. {image}
I love seeing the supporting data, but look at this price! We're about to test $30K again let's hope these buyers step in!!
{quote} Sweet analysis! Who's the data source on the volume? I love seeing the supporting data, but look at this price! We're about to test $30K again let's hope these buyers step in!!
Based on price movement alone it does look like we are entering another long, steady price decline. I very rarely like to make decisions based on price but bitcoin is a pretty unique animal. From my experience, it moves in an opposite pattern to what we expect from the stock market. It falls slowly over long periods and corrects upward very fast.
careful not to step in a pile of it
- #30
- Jan 26, 2021 2:06pm Jan 26, 2021 2:06pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
I'm starting to feel the same thing Bulltrap. We probably built good support at 30K, but this rally is over. 
40K was our high, and now we bounce around 30K until the next Paypal-esque news drops.
Sure hope that's wrong, but seems the right way to trade this.
You know what they say... yahoo in, yahoo out! 
It's probably accurate enough though, and it probably was a supply shortage we were seeing on the way to 40K. I guess they loosened some coins with rich prices... I know I was ready to dump my position.
Hmm so instead of flash crashes we get flash mobs. 
40K was our high, and now we bounce around 30K until the next Paypal-esque news drops.Sure hope that's wrong, but seems the right way to trade this.
The data was pulled from yahoo finance
It's probably accurate enough though, and it probably was a supply shortage we were seeing on the way to 40K. I guess they loosened some coins with rich prices... I know I was ready to dump my position.
it moves in an opposite pattern to what we expect from the stock market
- #31
- Jan 26, 2021 6:58pm Jan 26, 2021 6:58pm
- Joined Aug 2018 | Status: Mooing | 1,114 Posts
You know what they say... yahoo in, yahoo out!
- #32
- Jan 26, 2021 7:06pm Jan 26, 2021 7:06pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
{quote} Nice dad joke.
- #33
- Jan 28, 2021 10:23pm Jan 28, 2021 10:23pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
Took a nice bounce off 30K. 
I might sell a few if we get back to 37K.
I might sell a few if we get back to 37K.
- #34
- Jan 29, 2021 12:27pm Jan 29, 2021 12:27pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
Got one off at $38,250.
- #35
- Feb 3, 2021 12:06am Feb 3, 2021 12:06am
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
Looks like we're about to test these 40K sellers again! 
- #36
- Edited 3:54pm Feb 8, 2021 3:04pm | Edited 3:54pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
$40K goes down!!! 
Thank you Elon, for lending your hot wind to the bubble!
I'm selling into this move, but nothing too heavy. If we quickly hit $50K I'll be dumping.
Thank you Elon, for lending your hot wind to the bubble!I'm selling into this move, but nothing too heavy. If we quickly hit $50K I'll be dumping.
- #37
- Feb 8, 2021 3:37pm Feb 8, 2021 3:37pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
My newest theory: Elon will bring the dumb money.
In other words, we have one more rally ahead of us, then it's decline/stagnation for years to come. The next rally might even mark bitcoin's eventual ATH.
Correct or not, I'll be dumping into this next rally like every day is Thanksgiving.
In other words, we have one more rally ahead of us, then it's decline/stagnation for years to come. The next rally might even mark bitcoin's eventual ATH.
Correct or not, I'll be dumping into this next rally like every day is Thanksgiving.
- #38
- Feb 8, 2021 3:46pm Feb 8, 2021 3:46pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
I'm guessing the Tesla news is similar to Paypal news in terms of scale. Paypal news brought the smart money in, and got us to $40K... Tesla brings the dumb money and gets us to where?? Is $60K really possible?!?! 
- #39
- Feb 8, 2021 10:49pm Feb 8, 2021 10:49pm
- Joined Jan 2009 | Status: LFG ROSS | 1,777 Posts
New order ladder... 
I call this one the Elon dump!!!
I call this one the Elon dump!!!