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

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Quote from: Marvell1 on November 18, 2024, 08:35:20 AM

Quote from: bbc.reporter on November 17, 2024, 08:41:23 PM

Quote from: Marvell1 on November 17, 2024, 04:15:53 AM

Quote from: bbc.reporter on November 17, 2024, 01:34:29 AM

There is also the speculation that our favorite uncle Gary might also resign from his position as SEC chairman. This also implies that the crackdown on the cryptospace will be ending very soon hehehhehe. The Trump pump is being witnessed hehehe.

Under US law, a new president cannot fire the SEC chairman if he has done nothing wrong, but with the new administration putting so much pressure on Gary to resign, that will happen. There's been a lot of reporting, and I think it's largely true, Gary will be stepping down in the early days of Trump's presidency.

I am very much aware that a sitting president cannot fire a person who is appointed on a government position. The Donald would need congress and the senate to vote to impeach uncle Gary. This is certainly why everyone is not saying that he will be fire. It is only being speculated that he might resign.

I reckon Polymarket should create a prediction market where it will ask if uncle Gary will resign on 2025 heheheh. There is also a possibility that he might not resign and continue to annoy the cryptospace hehehehe.

As far as I know, most SEC chairmen will resign if the new administration comes to power, very few will continue to work until the end of their term because they will be under a lot of pressure from the new administration. I think Gary understands that, and that may also be why there are growing rumors that he will resign on Trump's Inauguration Day.
Based on history, I bet he will resign within days of Trump taking office, I don't think he will stay to wait for impeachment or be pressured by Trump.

Gary recently attempted to make a final pitch for the SEC to be allowed to regulate the cryptocurrency market before the Trump administration takes over the White House. I don't see what the point of this is because when Trump takes office he will reverse everything Gary did.

https://x.com/business/status/1857074010342797799

I reckon the SEC chairman's decision on his resignation would depend on who will be the sitting president of the next administration. If it was Kamala who was given the victory, we can be very much certain that un Gary will be very comfortable in his job heheheeh. We can also be quite certain that the Democrats similar to grandma Warren will have a bigger anticrypto army and the influence of grandma Yellen will be similar to the Biden administration.

In any case, agreed! Uncle Gary will resign because he is very much aware that no one likes him hehehehe.

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Quote from: bbc.reporter on November 17, 2024, 08:41:23 PM

Quote from: Marvell1 on November 17, 2024, 04:15:53 AM

Quote from: bbc.reporter on November 17, 2024, 01:34:29 AM

There is also the speculation that our favorite uncle Gary might also resign from his position as SEC chairman. This also implies that the crackdown on the cryptospace will be ending very soon hehehhehe. The Trump pump is being witnessed hehehe.

Under US law, a new president cannot fire the SEC chairman if he has done nothing wrong, but with the new administration putting so much pressure on Gary to resign, that will happen. There's been a lot of reporting, and I think it's largely true, Gary will be stepping down in the early days of Trump's presidency.

I am very much aware that a sitting president cannot fire a person who is appointed on a government position. The Donald would need congress and the senate to vote to impeach uncle Gary. This is certainly why everyone is not saying that he will be fire. It is only being speculated that he might resign.

I reckon Polymarket should create a prediction market where it will ask if uncle Gary will resign on 2025 heheheh. There is also a possibility that he might not resign and continue to annoy the cryptospace hehehehe.

As far as I know, most SEC chairmen will resign if the new administration comes to power, very few will continue to work until the end of their term because they will be under a lot of pressure from the new administration. I think Gary understands that, and that may also be why there are growing rumors that he will resign on Trump's Inauguration Day.
Based on history, I bet he will resign within days of Trump taking office, I don't think he will stay to wait for impeachment or be pressured by Trump.

Gary recently attempted to make a final pitch for the SEC to be allowed to regulate the cryptocurrency market before the Trump administration takes over the White House. I don't see what the point of this is because when Trump takes office he will reverse everything Gary did.

https://x.com/business/status/1857074010342797799

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Quote from: Cryptomultiplier on November 18, 2024, 07:43:58 AM

Quote from: nakamura12 on November 17, 2024, 05:11:08 AM

Quote from: Felicity_Tide on November 17, 2024, 04:47:49 AM

I think if you want to start using charts to make speculations, then you might want to compare it with any previous chart that must have followed similar pattern, which i believe is what most analyst do when speculating.

That aside, Bitcoin started the bullish movement during the presidential election(right even before it ended), so the train has far left the station even before this thread was created. Of course, we will surely find some people that are currently having FOMO, thereby wanting to jump on a fast moving train.

But regardless, $100K seems to be the main topic on ground now. This $90K price range seems to be it's relaxing point for the now, but we can only hope to see that break.

It seems that the price of btc is at 90k to 91k at this moment. The main topic being discussed is indeed about bitcoin reaching 100k and I think it is possible especially when there will be a lot of people who will accumulate more bitcoin to follow the train if they want to jump in it for a chance to earn profit when it reaches 100k. For me, it is very risky since btc price right now is kinda stable at 90k for now which I have seen not long ago where it goes back to 90 from 91k and then back to 91k.

The price of BTC will still rise further because these are good times following Trump's win which happens to toggle the Bitcoin market into a bull season and am sure all those accumulating more are right to do so unless they have long term future holding plans, the best decision for me is to hold till it is almost 99k and then i sell, diversify and take some profit for the yuletide season.

Bitcoin's recent rally, courtesy of Trump's victory coupled with increased institutional interest through ETFs, sets up a case for a $100K price target. While the bullish sentiment is well-supported with clearer regulations and inflows into Bitcoin ETFs, depending entirely on long holds to $99K could be a little risky. Given the nature of Bitcoin and how timing at peaks can be tough to do, diversification of profits into multiple marks or using effective risk management strategies like trailing stop-losses is much safer.

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Quote from: seoincorporation on November 16, 2024, 02:54:15 PM

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?

That’s how unpredictable bitcoin movement is. Even if the chart says it all that bitcoin is heading to a bull run and a new ATH is waiting ahead, there is no guarantee that bitcoin price will stick to it. There could be instant price drop or massive spike, who knows? But as for me, I am holding the fact that bitcoin is very bullish and productive right now. This could be a good opportunity to sell if you had bought bitcoin when it was still $30k-$40k.

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Quote from: nakamura12 on November 17, 2024, 05:11:08 AM

Quote from: Felicity_Tide on November 17, 2024, 04:47:49 AM

I think if you want to start using charts to make speculations, then you might want to compare it with any previous chart that must have followed similar pattern, which i believe is what most analyst do when speculating.

That aside, Bitcoin started the bullish movement during the presidential election(right even before it ended), so the train has far left the station even before this thread was created. Of course, we will surely find some people that are currently having FOMO, thereby wanting to jump on a fast moving train.

But regardless, $100K seems to be the main topic on ground now. This $90K price range seems to be it's relaxing point for the now, but we can only hope to see that break.

It seems that the price of btc is at 90k to 91k at this moment. The main topic being discussed is indeed about bitcoin reaching 100k and I think it is possible especially when there will be a lot of people who will accumulate more bitcoin to follow the train if they want to jump in it for a chance to earn profit when it reaches 100k. For me, it is very risky since btc price right now is kinda stable at 90k for now which I have seen not long ago where it goes back to 90 from 91k and then back to 91k.

The price of BTC will still rise further because these are good times following Trump's win which happens to toggle the Bitcoin market into a bull season and am sure all those accumulating more are right to do so unless they have long term future holding plans, the best decision for me is to hold till it is almost 99k and then i sell, diversify and take some profit for the yuletide season.

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Quote from: Jawhead999 on November 17, 2024, 10:34:07 AM

Quote from: fuguebtc on November 17, 2024, 10:07:56 AM

If bitcoin hits $150k then bitcoin's market cap will hit $3.2 trillion and this is considered a significant market cap compared to years ago as no one could have expected bitcoin to reach this level . But compared to other assets like gold or the stock market, Bitcoin is still very small and the potential is still huge.

Many people think that bitcoin's capitalization could surpass gold , but I'm not sure and in no rush to confirm that . But with what bitcoin has achieved, I think the 2-3 trillion market cap does not reflect its true value . We already have bitcoin ETFs and bitcoin even has the opportunity to be used as a strategic reserve asset , I think a market cap of over $10 trillion really reflects the true value of bitcoin . But the thing is I don't think that's going to happen anytime soon , it's going to take a long time to get to that level of capitalization . But I think a 3 trillion market cap for this bullrun is not too high .

I have no idea if you think $3.2 Trillion is very small compared to gold and stock market cap.

If Bitcoin has $3.2 Trillion, it means they're now at 4th rank and it's only need $200 Billion more to beat Microsoft and NVIDIA https://companiesmarketcap.com/assets-by-market-cap/

The value of Bitcoin isn't about it's price, but the decentralization, security and pseudonymous.

If Bitcoin price rise really high and become second or biggest market cap, Bitcoin might lose it's value since governments and institutions are accumulating Bitcoin as much as they can.

The entire world financial market is worth around 120-150 trillion, while the US market is worth over 50 trillion, gold is worth over 17 trillion, and our crypto market is only worth 3 trillion. Compared to the potential of bitcoin and cryptocurrencies, the fact that their market capitalization is smaller than a company is unacceptable to me.

This is what makes bitcoin special from the rest of the world but how many people do you think will care about this or do people only care about the price of bitcoin? If bitcoin becomes stable, not giving x2, x5 or even x10 returns, how many people do you think will stay with bitcoin? We should be realistic that what people need from bitcoin is price increase and price increase.

Sooner or later, whether we like it or not, bitcoin will become more centralized and will be largely held by institutions like bitcoin ETFs and maybe even governments. I can say that it is inevitable and there is nothing we can do to stop it, other than adapt or leave the game.

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Quote from: Marvell1 on November 17, 2024, 04:15:53 AM

Quote from: bbc.reporter on November 17, 2024, 01:34:29 AM

There is also the speculation that our favorite uncle Gary might also resign from his position as SEC chairman. This also implies that the crackdown on the cryptospace will be ending very soon hehehhehe. The Trump pump is being witnessed hehehe.

Under US law, a new president cannot fire the SEC chairman if he has done nothing wrong, but with the new administration putting so much pressure on Gary to resign, that will happen. There's been a lot of reporting, and I think it's largely true, Gary will be stepping down in the early days of Trump's presidency.

I am very much aware that a sitting president cannot fire a person who is appointed on a government position. The Donald would need congress and the senate to vote to impeach uncle Gary. This is certainly why everyone is not saying that he will be fire. It is only being speculated that he might resign.

I reckon Polymarket should create a prediction market where it will ask if uncle Gary will resign on 2025 heheheh. There is also a possibility that he might not resign and continue to annoy the cryptospace hehehehe.

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Quote from: AsiaHODL on November 17, 2024, 04:58:09 AM

I am not a fan of TA, but yes the coiling up seems to have been in place from March 2024 until now. So we indeed to have a very solid platform for more upward movement.

Good observation, I think it is the first time to see Bitcoin went on a new ATH even before the halving and that's a great sign. And that's what drives the enthusiasm of most holders, every cycle changes and has a different high.

Quote from: AsiaHODL on November 17, 2024, 04:58:09 AM

The key thing though, that really is all that matters if you hodl, is that we know and understand that there is massive BTC adoption ahead over the next decade.

Holding makes sense. Very simple, underrated yet has changed so many lives that held Bitcoin.

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Quote from: nakamura12 on November 17, 2024, 05:11:08 AM

Quote from: Felicity_Tide on November 17, 2024, 04:47:49 AM

I think if you want to start using charts to make speculations, then you might want to compare it with any previous chart that must have followed similar pattern, which i believe is what most analyst do when speculating.

That aside, Bitcoin started the bullish movement during the presidential election(right even before it ended), so the train has far left the station even before this thread was created. Of course, we will surely find some people that are currently having FOMO, thereby wanting to jump on a fast moving train.

But regardless, $100K seems to be the main topic on ground now. This $90K price range seems to be it's relaxing point for the now, but we can only hope to see that break.

It seems that the price of btc is at 90k to 91k at this moment. The main topic being discussed is indeed about bitcoin reaching 100k and I think it is possible especially when there will be a lot of people who will accumulate more bitcoin to follow the train if they want to jump in it for a chance to earn profit when it reaches 100k. For me, it is very risky since btc price right now is kinda stable at 90k for now which I have seen not long ago where it goes back to 90 from 91k and then back to 91k.

Now $89k probably the price will stand in between for a long period of time, if this price should surpass $95k then we’re getting straight to $100k but i don’t know what will happen next. Not minding the promises and predictions including op chart I still don’t agree $100k is guaranteed due to fluctuation. Let’s expect something good, if considering past event before investing especially those who are easily deceived now the price is high will not make profit firstly past performance can’t give accurate result, joining the train so late can’t give equal profit as expected Well everyone target is directed at $100k that’s the plan.

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Quote from: mindrust on November 16, 2024, 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. 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.

Literally, because what he posted there is just a simple chart (with no edits or what) that shows the direction of the BTC price and as we can see, it just moves upwards consistently but even if it's a pro TA, indeed that it might still mean nothing because at the end of the day, the price can still move on its own, I mean randomly because of course, price won't move if without us people doing an action towards it.

Most of the times, a correction happens after a good increase but there is nothing yet and I think we can still go far before we experience it. Not all who are into BTC are always positive but some are only too professional to also look on the dark side. He is not an expert which shows his actions but being an expert to it is still better because that might make us improve our chances of winning our trades.

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Quote from: AmoreJaz on November 17, 2024, 03:13:52 PM

If you have the means to accumulate more and have the belief on this market, why not? Because if you will wait for the time to go the price up before you spend some, then, surely, you won't get the profits that you are aiming for. As we don't know the time when it will reach such level, you should at least think of other contingencies how to minimize your possible losses in case your expectations are not met.

I understand but my point is about accumulating bitcoin in a short time for short term but for long term then buying more bitcoin would be ideal. One more thing, what I meant is it's not about waiting for the price to go up before buying bitcoin then profits that a person is aiming won't be achieved. Anyway, I am not stopping people to not think of different ways to minimize possible loses and it's just an opinion just what I have explained in the previous post I made and I also didn't mention about buying bitcoin when it's price goes up but instead if they want to earn profit then people should have accumulate bitcoin before the price reach 90k and maybe soon will reach 100k although it won't be a lot of profit if btc is bought at the current price whenever the price reach 100k.

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Quote from: nakamura12 on November 17, 2024, 12:16:44 PM

Quote from: Z-tight on November 17, 2024, 09:01:19 AM

Not really risky in my opinion, except the person is seeking very short term gains, because the price will surely get to $100, but we don't know when and it might take sometime for it to get to $100k and break that resistance. If people get in now, and are very patient, i believe it won't be long before they are in profit, next year promises to be interesting for every bitcoiner out there.

We have different opinions. The reason why I said it's very risky is that what if bitcoin won't reach 100k in just short time like it will take years or months and have weak hands then it's really a risky move but as you have said, if it's for short term gains then yes it is very risky and that's the reason why my opinion about it being risky especially the price of bitcoin is circling around 90k which I think maybe starting a strong foundation before it goes up to 100k so we should just wait how it will go in the future.

If you have the means to accumulate more and have the belief on this market, why not? Because if you will wait for the time to go the price up before you spend some, then, surely, you won't get the profits that you are aiming for. As we don't know the time when it will reach such level, you should at least think of other contingencies how to minimize your possible losses in case your expectations are not met.
The positive notion on this market is spreading and so it means, adoption will further increase and so the demand in the market. Since the supply is fixed, it only means one thing - the price will continue to increase.

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Quote from: Z-tight on November 17, 2024, 09:01:19 AM

Not really risky in my opinion, except the person is seeking very short term gains, because the price will surely get to $100, but we don't know when and it might take sometime for it to get to $100k and break that resistance. If people get in now, and are very patient, i believe it won't be long before they are in profit, next year promises to be interesting for every bitcoiner out there.

We have different opinions. The reason why I said it's very risky is that what if bitcoin won't reach 100k in just short time like it will take years or months and have weak hands then it's really a risky move but as you have said, if it's for short term gains then yes it is very risky and that's the reason why my opinion about it being risky especially the price of bitcoin is circling around 90k which I think maybe starting a strong foundation before it goes up to 100k so we should just wait how it will go in the future.

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Yes the train has already left the station and seems to be heading for some distant destination. The train is now on a break after a long journey and I am really looking forward to seeing how far the next journey will be.

Bitcoin was almost certain to make a big pump later this year (just kidding). Many of us predicted that Bitcoin would begin to pump up the price by the end of the year, i.e. go on a bull run and reach $100k by early next year. But Bitcoin is pumping more than we expected. The bull is now resting a bit for the next race, just waiting to see how far he can win the next race. Expect to exceed $120k.

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Quote from: fuguebtc on November 17, 2024, 10:07:56 AM

If bitcoin hits $150k then bitcoin's market cap will hit $3.2 trillion and this is considered a significant market cap compared to years ago as no one could have expected bitcoin to reach this level . But compared to other assets like gold or the stock market, Bitcoin is still very small and the potential is still huge.

Many people think that bitcoin's capitalization could surpass gold , but I'm not sure and in no rush to confirm that . But with what bitcoin has achieved, I think the 2-3 trillion market cap does not reflect its true value . We already have bitcoin ETFs and bitcoin even has the opportunity to be used as a strategic reserve asset , I think a market cap of over $10 trillion really reflects the true value of bitcoin . But the thing is I don't think that's going to happen anytime soon , it's going to take a long time to get to that level of capitalization . But I think a 3 trillion market cap for this bullrun is not too high .

I have no idea if you think $3.2 Trillion is very small compared to gold and stock market cap.

If Bitcoin has $3.2 Trillion, it means they're now at 4th rank and it's only need $200 Billion more to beat Microsoft and NVIDIA https://companiesmarketcap.com/assets-by-market-cap/

The value of Bitcoin isn't about it's price, but the decentralization, security and pseudonymous.

If Bitcoin price rise really high and become second or biggest market cap, Bitcoin might lose it's value since governments and institutions are accumulating Bitcoin as much as they can.

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It could be right as Bitcoin price now already increase so high. But even right now the price gets a correction, that will not stop Bitcoin to lift the price to the next new ATH. You should prepare yourself before the train leave the station because that means, you will be too late to chase the profit and should be wait for the next dump.

Many people now waiting for the moment of Bitcoin price hit $100,000. While the price now are in the correction, you can buy back Bitcoin and hold it and sell at the target price you want. But you can still buy and hold for longer if you don't want to take your profit in the next real bull run. That is why you need to analyze more and know when you may sell your Bitcoin and take the profit.

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Quote from: kryptqnick on November 17, 2024, 05:43:58 AM

I think breaking the $100k mark is realistic, while reaching $150k in this bull run is unlikely. The marketcap is just too high for such multiplying effect.

If bitcoin hits $150k then bitcoin's market cap will hit $3.2 trillion and this is considered a significant market cap compared to years ago as no one could have expected bitcoin to reach this level . But compared to other assets like gold or the stock market, Bitcoin is still very small and the potential is still huge.

Many people think that bitcoin's capitalization could surpass gold , but I'm not sure and in no rush to confirm that . But with what bitcoin has achieved, I think the 2-3 trillion market cap does not reflect its true value . We already have bitcoin ETFs and bitcoin even has the opportunity to be used as a strategic reserve asset , I think a market cap of over $10 trillion really reflects the true value of bitcoin . But the thing is I don't think that's going to happen anytime soon , it's going to take a long time to get to that level of capitalization . But I think a 3 trillion market cap for this bullrun is not too high .

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Quote from: Z-tight on November 17, 2024, 09:01:19 AM

Quote from: nakamura12 on November 17, 2024, 05:11:08 AM

For me, it is very risky since btc price right now is kinda stable at 90k for now which I have seen not long ago where it goes back to 90 from 91k and then back to 91k.

Not really risky in my opinion, except the person is seeking very short term gains, because the price will surely get to $100, but we don't know when and it might take sometime for it to get to $100k and break that resistance. If people get in now, and are very patient, i believe it won't be long before they are in profit, next year promises to be interesting for every bitcoiner out there.

If the closing of Weekly is Bitcoin remains above $ 90k, it is likely that we will experience further increase and have more opportunities than the new ATH yesterday at the price of $ 93K, this is only a speculation and prediction only a conclusion from the analysis that I made.

Bitcoin is in a circle of $ 88k- $ 92k you see it and keep spinning in the area, maybe Bitcoin is forming a strong price support before continuing its increase, $ 100k is very possible we get this year, considering that there are so many bitcoin adoption sentiment that will have an impact on Sustainable bullish, you are right that the most risky is the person who trades, not investing.

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Quote from: nakamura12 on November 17, 2024, 05:11:08 AM

For me, it is very risky since btc price right now is kinda stable at 90k for now which I have seen not long ago where it goes back to 90 from 91k and then back to 91k.

Not really risky in my opinion, except the person is seeking very short term gains, because the price will surely get to $100, but we don't know when and it might take sometime for it to get to $100k and break that resistance. If people get in now, and are very patient, i believe it won't be long before they are in profit, next year promises to be interesting for every bitcoiner out there.

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Quote from: headingnorth on November 16, 2024, 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.

That's right, anything can happen.

Corrections are normal in every cycle of the market. We're on the bull run, yes, corrections will come.

With what you're speculating that massive corrections are unlikely, you might be correct as well. You have highlighted how huge the corrections that are about to come and they're not that much.

But see to it that whenever we're on a massive run, there's for sure some corrections that we will have to deal with.

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Quote from: Don Pedro Dinero on November 17, 2024, 04:36:23 AM

Quote from: PrivacyG on November 16, 2024, 07:59:14 PM

Quote from: mindrust on November 16, 2024, 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?

When I see a chart like this, I don't just think about the chart, I frame it in the moment we are in. Trump's victory in the USA, with a pro-business, pro-markets and pro-bitcoin government, which has led to big rises post-election and a sideways pause now.

In this context, this chart looks to me like a price consolidation before the attack on $100,000.

Yes context is important and at the moment the context looks extremely positive for bitcoin, with little or no FUD.
I thought bitcoin would drop more than it did after the recent announcement by Fed chair Powell that he "wasn't in a hurry to reduce interest rates."
That announcement sent the stock market down a few percentage points.

Bitcoin followed by going down 3 or 4K on the news, but I was surprised how quickly it recovered to over 90K the next day.
So buyers were taking advantage of the dip. To me that just shows how incredibly strong bitcoin is becoming.

I think some folks wouldn't mind seeing a little more FUD so they can buy the dip.
Of course short sellers always hope for big FUD but they have been getting completely wrecked all year long as bitcoin only keeps going up.

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Quote from: kryptqnick on November 17, 2024, 05:43:58 AM

I think breaking the $100k mark is realistic, while reaching $150k in this bull run is unlikely. The marketcap is just too high for such multiplying effect.

$100k is very close and it can be achieved until the end of the Bull run. previously we talked about October breaking ATH, but it didn't quite work, only at the end of October did we start to see significant Bitcoin movement. and continued amazingly in the middle of this month. I believe this will continue. Bitcoin reaching $100k this year is possible. be patient to achieve it.

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Bitcoin was expected to hit the bull run at the end of 2024. I personally talked about it on the forum as well, looking purely at average intervals between bear cycles and bull runs. This time was different, though, as the price was really building up gradually over the course of the whole year. And now we see a significant spike, so clearly a bull run. The price is already wonderful, but of course it's impossible to know how far it will go and how long it will last. I think breaking the $100k mark is realistic, while reaching $150k in this bull run is unlikely. The marketcap is just too high for such multiplying effect.

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Quote from: Felicity_Tide on November 17, 2024, 04:47:49 AM

I think if you want to start using charts to make speculations, then you might want to compare it with any previous chart that must have followed similar pattern, which i believe is what most analyst do when speculating.

That aside, Bitcoin started the bullish movement during the presidential election(right even before it ended), so the train has far left the station even before this thread was created. Of course, we will surely find some people that are currently having FOMO, thereby wanting to jump on a fast moving train.

But regardless, $100K seems to be the main topic on ground now. This $90K price range seems to be it's relaxing point for the now, but we can only hope to see that break.

It seems that the price of btc is at 90k to 91k at this moment. The main topic being discussed is indeed about bitcoin reaching 100k and I think it is possible especially when there will be a lot of people who will accumulate more bitcoin to follow the train if they want to jump in it for a chance to earn profit when it reaches 100k. For me, it is very risky since btc price right now is kinda stable at 90k for now which I have seen not long ago where it goes back to 90 from 91k and then back to 91k.

AsiaHODL

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I am not a fan of TA, but yes the coiling up seems to have been in place from March 2024 until now. So we indeed to have a very solid platform for more upward movement.

The key thing though, that really is all that matters if you hodl, is that we know and understand that there is massive BTC adoption ahead over the next decade.

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Quote from: headingnorth on November 16, 2024, 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.

~snip

I think if you want to start using charts to make speculations, then you might want to compare it with any previous chart that must have followed similar pattern, which i believe is what most analyst do when speculating.

That aside, Bitcoin started the bullish movement during the presidential election(right even before it ended), so the train has far left the station even before this thread was created. Of course, we will surely find some people that are currently having FOMO, thereby wanting to jump on a fast moving train.

But regardless, $100K seems to be the main topic on ground now. This $90K price range seems to be it's relaxing point for the now, but we can only hope to see that break.

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Quote from: PrivacyG on November 16, 2024, 07:59:14 PM

Quote from: mindrust on November 16, 2024, 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?

When I see a chart like this, I don't just think about the chart, I frame it in the moment we are in. Trump's victory in the USA, with a pro-business, pro-markets and pro-bitcoin government, which has led to big rises post-election and a sideways pause now.

In this context, this chart looks to me like a price consolidation before the attack on $100,000.

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Quote from: bbc.reporter on November 17, 2024, 01:34:29 AM

There is also the speculation that our favorite uncle Gary might also resign from his position as SEC chairman. This also implies that the crackdown on the cryptospace will be ending very soon hehehhehe. The Trump pump is being witnessed hehehe.

Under US law, a new president cannot fire the SEC chairman if he has done nothing wrong, but with the new administration putting so much pressure on Gary to resign, that will happen. There's been a lot of reporting, and I think it's largely true, Gary will be stepping down in the early days of Trump's presidency.

A clearer proof of this is that US exchanges like Kraken and Robinhood have also started relisting altcoins like XRP, ADA...these are altcoins that the SEC has accused of being securities and asked exchanges to delist them. Gary will likely step down and a more crypto-friendly SEC will emerge under Trump.

https://www.coindesk.com/business/2024/11/13/robinhood-adds-sol-pepe-ada-xrp-following-trump-victory/

bbc.reporter

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Quote from: headingnorth on November 16, 2024, 01:34:11 PM

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

Everyone has very much known this already when the Donald has taken the victory on the presidential elections in America. The market has become very much bullish because of the procrypto promises that might be fulfilled during the next admimistration.

There is also the speculation that our favorite uncle Gary might also resign from his position as SEC chairman. This also implies that the crackdown on the cryptospace will be ending very soon hehehhehe. The Trump pump is being witnessed hehehe.

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Like all round numbers, the $100k resistance is also going to be a pain to break and just like all the previous ones breaking it has the potential to act like a big positive signal to all those who wait on the sidelines to jump in and start buying.
If that happens, what you said comes true, bitcoin would make a "massive move".

The global economy is not changing for the time being (possibly until Trump's inauguration). Interest rates haven't gone back up yet and the energy market seems to be calm (eg. oil is closer to $70 than to $100+), all of which means less recession despite the inflation still being a problem. That combination has always been positive for bitcoin as well...

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Quote from: Smack That Ace on November 16, 2024, 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 November 16, 2024, 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.

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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 November 16, 2024, 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.

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Quote from: headingnorth on November 16, 2024, 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

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It sure looks that way, right on time too.

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Quote from: mindrust on November 16, 2024, 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.

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Quote from: headingnorth on November 16, 2024, 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 November 16, 2024, 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

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Quote from: AprilioMP on November 16, 2024, 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.

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Quote from: un_rank on November 16, 2024, 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 November 16, 2024, 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?

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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 November 16, 2024, 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 -

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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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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 428 times)