Is it me or is bitcoin coiling up for another massive move?

Catenaccio

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Quote from: Smack That Ace on Today at 09:59:17 PM

If you do not rely on technical analysis or any factor and make a prediction then it is just your expectation and there is nothing reliable. I bet it's not just you who have this feeling but most of us have this feeling but it's our greed, nothing more nothing less. The greed index shows that the market is at an extreme level of greed so it is no surprise that most people think that the price of bitcoin will continue to rise higher in the coming days. But to be fair, no one knows what is going on and what we should do is continue to wait if bitcoin has not yet reached our target.

We can not predict the market correctly, we can not time the market accurately, but if you follow very basic principle

"Be fearful when others are greedy, and be greedy when others are fearful", we will be able to avoid FOMO and panic as well as have better ability to buy dips when others are fearful.

Bitcoin Fear and Greed Index Chart.
https://www.bitcoinmagazinepro.com/charts/bitcoin-fear-and-greed-index/

Smack That Ace

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Quote from: headingnorth on Today at 01:34:11 PM

In my experience, when it has been coiling up like this for days or weeks it can only mean one thing.

I'm no TA expert, but it looks to me like the train is about the leave the station.

If you do not rely on technical analysis or any factor and make a prediction then it is just your expectation and there is nothing reliable. I bet it's not just you who have this feeling but most of us have this feeling but it's our greed, nothing more nothing less. The greed index shows that the market is at an extreme level of greed so it is no surprise that most people think that the price of bitcoin will continue to rise higher in the coming days. But to be fair, no one knows what is going on and what we should do is continue to wait if bitcoin has not yet reached our target.

X-ray

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remember that the smaller timeframe, the more noise, the chart you mentioned might look bullish but doesn't mean it's also bullish lookout on higher timeframe.
maybe try to analyze the 1d chart as well, the chart on CMC is pretty useless IMO, just showing the price on certain period like for example in your picture, it's just from 10 nov to 16 nov which kinda holds no information at all for technical analysis.

regardless though I'm pretty optimistic that we might see $100k anyway.

tbct_mt2

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Quote from: mindrust on Today at 01:41:47 PM

That chart means nothing. You can't tell anything by looking at it. It also shows only the last 7 days. What you think is going to happen by looking at this? Btc will go up? It already went up a lot and I wouldn't be surprised if a massive correction happens before it hits above $100 or even $150k. However, maybe btc will be going for $100k without corrections.

The Pi-cycle top indicator can help to get a signal of a market top, it's a little bit delay of confirmation on a market top but it's useful.

https://www.bitcoinmagazinepro.com/charts/pi-cycle-top-indicator/

You can see that in previous market cycles, after the market top appears for a while, you will see the orange line cross down the green line. When that cross happens, it is a confirmation of market top and if you have yet taken profit previously, it's time for you to wait for a double top, a bounce to take profit and exit the market if you don't want to hold through two bearish years.

tread93

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Quote from: headingnorth on Today at 01:34:11 PM

In my experience, when it has been coiling up like this for days or weeks it can only mean one thing.

I'm no TA expert, but it looks to me like the train is about the leave the station.

Heck yeah it’s about to leave the station. Man we are seeing this insane transfer of wealth happening right in front of us and most people don’t even know it! I’m going to have to agree with you that we are probably about to see another huge movement

BitcoinBarrel

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It sure looks that way, right on time too.

PrivacyG

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Quote from: mindrust on Today at 01:41:47 PM

That chart means nothing. You can't tell anything by looking at it. It also shows only the last 7 days. What you think is going to happen by looking at this? Btc will go up?

You can not take any of these guys seriously. Every time Bitcoin has a positive run, everybody expects and accepts ONLY upward explosions as possibilities. Bitcoin Chart has gone horizontally for 7 days? Explosion coming soon! Significant correction? Bitcoin should be doubling VERY soon, buy before it gets too late! Has it gone up a little bit? It must be just the beginning of it all!

I mean. Hell. Even good Analysts mess up pretty often although some of them do have a better intuition and pattern recognition. OP is doing pretty much coin flipping with this one.

Zaguru12

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Quote from: headingnorth on Today at 01:48:22 PM

Anything can happen, but from what I can tell from the chart another large correction at this time is rather unlikely.

There is going to be a correction but the correction is not something that will be happening now, probably when we get a six figure price hit, base on TA there are many Fair Value gaps left behind due to the impulsive movement during the rally from $75k to the new ATH and we most certainly know that the Market usually comes back to clear this fair value gaps and Aldi some inducement at the back, but for now my prediction is that we have primary support at $87k and that will be hard not to hold for now maybe until we get to the six figures before the corrections.

Quote from: seoincorporation on Today at 02:54:15 PM

If a big whale decide to sell all his coins then a crash will come. And I can see that coming for sure someone will want to take profit and walk away. But the question is, how hard the crash will be when that happen?

Due to the large volume of bitcoin trades daily it will definitely take something huge for someone to sell and cause a dump, bitcoin doesn’t seems to have such Whales impact, even institutions that sell off and cause dip do not do it directly with their coins but they announce this sales before it happens and the community then react to the news which causes either pump or dump, so it is not directly the whale sell off

GeorgeJohn

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Quote from: AprilioMP on Today at 01:53:36 PM

If it is a train, the departure has long been awaited.
And if you seriously pay attention to the price chart, you can find that Bitcoin is still not willing to go down since the price reaches $ 81,000 and makes circumstances like being tired to rise to rise.
More than $ 93,000 has been achieved and shortly after that dropped a little to $ 86,000. Still not ready to go down, the price returns to $ 91,000.

One sentence from me, are you ready?

it is obvious that they chat is not indicating anything serious concerning the decrease of Bitcoin but the thing is that we all know that Bitcoin have a fluctuating point which does every tendency for the price of Bitcoin we see today going up to the extent of hitting to 100k also to be seen at 75k or 65k, let's chat not convince us because it is not today that bitcoin increases and later decrease in price, but at this point is not showing to sign of falling.

headingnorth

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Quote from: un_rank on Today at 02:46:48 PM

The last 7 days chart does not give any more indication on future price action than any isolated 7 days chart you can pick. It is alright to feel the price is gearing up for another pump based on a hunch, I think we can get over $100k before the end of this year off the momentum that has been built in the last month.

Quote from: headingnorth on Today at 01:48:22 PM

Anything can happen, but from what I can tell from the chart another large correction at this time is rather unlikely.

I think there is very little to take from the charts or historical data even. We do not normally get multiple all time highs just a few months after the halving. Bitcoin keeps us waiting for at least a year so with the current ride it is difficult to predict where we go next.

- Jay -

LOL. I use simple technical analysis, no hunches or feelings involved. TA is based on statistics and probabilities, not certainties or feelings.

Sure a giant asteroid can hit the earth tomorrow and void my prediction, but that is not likely. Maybe nuclear war will break out between Israel and Iran,
maybe the sun will blow up tomorrow, or the zombie apocalypse will kill us all. If you want to live your life in such fear then you shouldn't be in bitcoin or any other kind of investment.

seoincorporation

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At this point anything can happen, It could start moving up all the way to 150k or It can have a masive instant crash.

If a big whale decide to sell all his coins then a crash will come. And I can see that coming for sure someone will want to take profit and walk away. But the question is, how hard the crash will be when that happen?

un_rank

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- Jay -

The last 7 days chart does not give any more indication on future price action than any isolated 7 days chart you can pick. It is alright to feel the price is gearing up for another pump based on a hunch, I think we can get over $100k before the end of this year off the momentum that has been built in the last month.

Quote from: headingnorth on Today at 01:48:22 PM

Anything can happen, but from what I can tell from the chart another large correction at this time is rather unlikely.

I think there is very little to take from the charts or historical data even. We do not normally get multiple all time highs just a few months after the halving. Bitcoin keeps us waiting for at least a year so with the current ride it is difficult to predict where we go next.

- Jay -

AprilioMP

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If it is a train, the departure has long been awaited.
And if you seriously pay attention to the price chart, you can find that Bitcoin is still not willing to go down since the price reaches $ 81,000 and makes circumstances like being tired to rise to rise.
More than $ 93,000 has been achieved and shortly after that dropped a little to $ 86,000. Still not ready to go down, the price returns to $ 91,000.

One sentence from me, are you ready?

headingnorth

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NO SHITCOIN INSIDE

Anything can happen, but from what I can tell from the chart another large correction at this time is rather unlikely.

mindrust

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That chart means nothing. You can't tell anything by looking at it. It also shows only the last 7 days. What you think is going to happen by looking at this? Btc will go up? It already went up a lot and I wouldn't be surprised if a massive correction happens before it hits above $100 or even $150k. However, maybe btc will be going for $100k without corrections. It is just, I can't tell what's going to happen by looking at this chart. It would be only wishful thinking. If you are heavily loaded on btc, you'll only see rainbows in this chart. If you don't own any btc, you'll only see corrections. Since you are not a TA expert (which is a great thing), I just summarized TA for you. so you don't need to waste your time on it.

headingnorth

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In my experience, when it has been coiling up like this for days or weeks it can only mean one thing.

I'm no TA expert, but it looks to me like the train is about the leave the station.

Topic: Is it me or is bitcoin coiling up for another massive move? (Read 119 times)