"What's happening!? Why did the Bitcoin pumpage stop at this level!?"

[Anonymous No.56708203]

The BTC pumpage stopped where it did because the market sentiment has shifted; the market is right now more bearish than bullish (in other words more interested in selling than buying), hence the price stopped rising (note: when there's more selling than buying, the price falls – regardless of your feelings). For now at least. That is why the price isn't higher than it is now (when this was posted).

Picrel is the 1W chart, illustrating the market sentiment on that timeframe. The market still looks bullish on the Monthly; it hasn't even topped yet (not that it has to: the market has demonstrated a big fall on the Monthly can begin from 90-85 points; see 2019). But it's too early to say for sure what will happen with that, whether it's a sort of (the zoomed out chart never repeats exactly) repeat of early 2016 (ultra bullish situation), or whether it's a repeat of ~Aug 2019.

Currently the 1D is bottoming as of writing this, so you might see a tiny pump soon similar to the previous ones from ~36k to near 38k. However the 1D situation now seems closer to how it was in July, so while a tiny pump shouldn't come as a surprise you certainly shouldn't expect one as it simultaneously seems likely to not happen. Either way it makes little difference (unless you're leveraged), as it would be another meaningless temporary pump (see the 1W). From a non-technical perspective though yet another such pump would be a logical movie in order to trap more people into longing in order to liquidate them, as well as the current shorters.

[Anonymous No.56708222]

Is this a reach? Or does this wedge seem plausible?

[Anonymous No.56708235]

>higher local high
>higher local low
>higher local high
>higher local low

see the pattern or do you still need me to go on?

[Anonymous No.56708301]

>>56708222
Checked. Good that you brought that up. It's very important to keep an eye on that. Would be pretty bullish if it goes above that rising wedge. In the best-case bullish scenario we could then have a situation where the 1W stays topped for some time while BTC pumps. However fakeouts above such wedges do occur. If you see the price soon fall sharply within that rising wedge then that's of course a bearish signal and you know it's going down a few thousand at least, likely testing 30k and possibly dipping into 29k. If the price goes below the wedge and doesn't promptly get back into it, then the situation would be more bearish than it is now. Keep in mind those rising wedges are inherently bearish after all and nearly always break downwards. At roughly 27k however the price would hit the bottom of Bitcoin's log curve, where the whales so far have always bought in (hence always causing the price to not fall lower – with the sole exception being at 15.5k where it was ~1000 below, which mirrored how they didn't let the price rise to the very top of the curve during the latest ATH but instead sold off before the price got there). So if the price goes there, to the bottom of the curve, then we should see a hard bounce followed by a big pump. If that doesn't occur though, and the price falls several thousand below the log curve (to 22k for instance) then nobody can tell where it would stop dumping; it would be an extraordinarily bearish situation.

[Anonymous No.56708305]

>>56708203
Because you dont have 100 million chinese buying in any longer.

[Anonymous No.56708312]

>>56708203
Most of the post here is crap. Bitcoin stops at that level because market is expecting SEC to delay the goddamn ETF this month.

Bloomberg is expecting 90% chance for BTC ETF in January 10.

[Anonymous No.56708343]

>>56708312
>muh neeews
>muh eee tea eff
Supremely low IQ detected.

[Anonymous No.56708419]

>omg the StochRSI is literally flatlined at 0!
>I know, I'm going to go long here!

[Anonymous No.56708500]

>>56708203
You posted this exact thing before op and then too people ripped you a new one on your retard tier understanding of the market
At every single point in time all selling and buying is exactly balanced right down to the last sat
Learn how a market functions before making such absolutist statements or continue to be ridiculed

Its unbelievable how many people think that the sell button on Coinbase is a magic tool that wisps corns and usds in and out of the sky

[Anonymous No.56708504]

>>56708203
Because BTC is being controlled by tether and market makers you clown.

[Anonymous No.56708700]

>>56708203
Best thread on /biz/ right now. Very rare to see threads this good.

[Anonymous No.56708882]

>>56708301
A retest of 30k is indeed coming, that's easy to see, but that's a pretty boring dump dessu.

[Anonymous No.56708932]

>>56708500
all transactions net to zero, but not all orders net to zero.

[Anonymous No.56709272]

>>56708203
>>56708301
checked

[ToadVine !kYGg7OYpTE No.56709780]

>>56708203
Hey buddy, I made a new meme about you. I hope you like it.

[Anonymous No.56709945]

>>56708932
op very specifically typed more selling than buying
if there is a sale there is a corresponding buy, learn to order books, they can never be unbalanced unless the exchange is trading fake corns
op is of retard

[Anonymous No.56709969]

>>56708203
>wall of TA text
>random whale dumps/pumps in this whale chicken race, causing ops blog post to be rekt
>nothing personell kid

[Anonymous No.56709993]

op,

the gist of what you describe is accurate yet you miss much nuance and, consequently, lead many anons astray.

there are forces upstream of stoch rsi that it itself can't 'encapsulate' and indicate wholly.
there are brooks downstream of stoch rsi that try to navigate their own path to the sea and ofttimes won't get anywhere close.

stoch rsi anons aren't wrong when they stand by the side of the river half way up the mountain. They are commenting on what they see and it's a good idea for what's happening further up the mountain and simultaneously all the way down to the sea but oh boy, in the grander and greater scheme of things, they sure are missing the bigger picture.

ps. crypto is volatile and so pumps precede dumps. Saying dump follows pump will eventually be right o.p and it's akin to saying rain clouds yonder mean river tomorrow gon'get stronger.

there are Seasons, anon.

there are Cycles, anon.

there are Eras, anon.

Read your own words before parting advice.

'looks'
'too early to say for sure'
'a sort of'
'might see'
'similar to'
'seems'
'likely'
'would'
'shouldn't'
'could then'
'if the price'

modals and conditionals abound o.p.