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8310456 No.8310456 [Reply] [Original]

Drop to ~8k then bounce to 12k

>> No.8310481

>>8310456
more like we're just going to 12k now since bears can't seem to dump past 8.5 if their lives depended on it

>> No.8310486

>>8310456
My meme lines are telling me won't bounce higher as 10.1k

>> No.8310503

>>8310481
True, it seems they can barely dump it lower than 9k currently. I wouldn't be surprised to see the drop not happening

>> No.8310531

>>8310503
Look at what happened on 9.8k, straight fucking down. Don't underestimate the bears and the sentiment of the market. There aren't many buyers aswell, since nobody wants to get in at this price.

>> No.8310676
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8310676

>>8310531
It feels to me like the sentiment is in fact calming down. Volatility is dissipating, coordinated bear dumps are being absorbed around 8-9k. Would be really really surprised to see another <8k retest

>> No.8310738

>>8310676
Look at the volume, a lot of people are on the sidelines, volume is hovering bewteen 5 and 6.5 billion, its just sellers being buyers and buyers being sellers. Just whales fighting over the winning trade. Volatitility is high dude, we're doing ~1.5k per day price differences.

>> No.8310757

>>8310676
% are between 5-13% swings plus and min. Volatility is pretty insane at this moment, likely because everyone is on BitMex speculating on what BTC is going to do next.

>> No.8311019

>>8310757
Yeah but its all contained in a channel. No dump going below 8k, no pump going above 12k.

Since we tested 8k just now, upper channel should be tested again

>> No.8311058

>>8311019
You know what thats called? A wedge. Its when the price consolidates between a channel after a drop or run up. I agree it is likely to go higher than right now but I expect a major drop after that.

>> No.8311069
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8311069

>>8311019

>> No.8311076

>>8310738
CMC is showing 15B daily volume. Where do you get the lower numbers from?

>> No.8311167
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8311167

>>8311076
thats the entire market (which is still low)
I'm looking at BTC right now exclusivly, though its not entirely accurate.

>> No.8311204

>>8311167
hmm at least BTC seems to be stable in sats. I think that's a positive sign

>> No.8311288

>>8311204
1 BTC = 1 BTC, all you need ;)