The calm before the storm? - page 3.

danherbias07

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Quote from: stadus on June 14, 2021, 10:01:26 AM

Let's not get too excited yet, we will observe and see if it will continue to rise, hopefully it's not only a bull trap like what we've seen before.
As bitcoin rises today, the fees have also increased and it seems like more transactions are happening now.

it's not anymore empty as you can see here https://mempool.space/

Fees are high means people are investing in bitcoin again.

I had always thought it would be like a resting dragon again and I wouldn't mind that. After all, it had happened a lot of times before where after a dump it calms down for months.
$40k. Same assumption, like it's a trap to cut the small grass away before it goes higher. For some it will be a good deal, they could think it might be the right price to sell for ROI or whatever reasons they have. I think a short small dump will happen again this week.

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Quote from: Marvelman on June 14, 2021, 09:49:51 AM

Quote from: ?? on ??

Quote from: Marvelman on June 13, 2021, 05:06:44 AM

The past month has been one of the most boring in terms of bitcoin price movement since beginning of this year. It seems the two main arguments supporting and dismissing the bitcoin price movement are finally becoming clear. BTC could be witnessing the "calm before the storm". Maybe up, maybe down, but hopefully up...

and finally! Bitcoin really broke out of the first resistance, and the second resistance was at $40k,
if you can breakout from there there is a chance Bitcoin will continue to $42k, strong resistance is at $42k,
if it hasn't made it past $42k don't try to buy with bags a lot, just buy it to get profit, mate, don't be greedy

And it finally happened! A break above $40,000 finally ends the long downtrend. I'm curious to see if BTC can hold above that level.
BTC might experience another corrective drop, at worst it could be stuck between 32,000 and 35,000 range again. But I hope that won't happen and that a new attack on ATH will continue.

Let's not get too excited yet, we will observe and see if it will continue to rise, hopefully it's not only a bull trap like what we've seen before.
As bitcoin rises today, the fees have also increased and it seems like more transactions are happening now.

it's not anymore empty as you can see here https://mempool.space/

Fees are high means people are investing in bitcoin again.

Marvelman

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Quote from: ?? on ??

Quote from: Marvelman on June 13, 2021, 05:06:44 AM

The past month has been one of the most boring in terms of bitcoin price movement since beginning of this year. It seems the two main arguments supporting and dismissing the bitcoin price movement are finally becoming clear. BTC could be witnessing the "calm before the storm". Maybe up, maybe down, but hopefully up...

and finally! Bitcoin really broke out of the first resistance, and the second resistance was at $40k,
if you can breakout from there there is a chance Bitcoin will continue to $42k, strong resistance is at $42k,
if it hasn't made it past $42k don't try to buy with bags a lot, just buy it to get profit, mate, don't be greedy

And it finally happened! A break above $40,000 finally ends the long downtrend. I'm curious to see if BTC can hold above that level.
BTC might experience another corrective drop, at worst it could be stuck between 32,000 and 35,000 range again. But I hope that won't happen and that a new attack on ATH will continue.

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Quote from: coin-investor on June 14, 2021, 09:23:05 AM

...it's time for the community to take action and buy and encourage people to buy Bitcoin, we have to prove to Elon that we can stand on our own.

Community is as strong as its weakest links, and weak hands are unfortunately always weak hands - which means that we cannot act as one mind or collective consciousness, as is the case with the fictional Borg collective. Difference and uniqueness between people is what makes us special. Another thing is very important, and that is that you never push people into risky investments - everyone should decide for themselves what to do with their money, because it is not pleasant to be responsible in case someone suffers a financial loss because of you.

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Quote from: cryptomaniac_xxx on June 14, 2021, 06:13:27 AM

$40k-$42k is the big barrier, I believed that if we can break it today, we will have a good break out run. I can't remember, but we have been trying to break that big wall of $40k and we have tried like five times already and we always failed. I do hope this time we will be successful.

After a few weeks in the $34-38k level, we finally bridge the $40k level, this is another shot for a big run, I hope this is the start of something big for us, and Elon stop spreading FUD on Bitcoin, it's time for the community to take action and buy and encourage people to buy Bitcoin, we have to prove to Elon that we can stand on our own.

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Quote from: adaseb on June 13, 2021, 11:34:45 PM

What a difference 24 hour can make. Yesterday I made a post here saying that things are not looking good and most likely we will retest $30K and break then. And we are almost at $40K right now. I took a short at $36K and it didn't work. Because yesterday it looked like it was going to break-down.

Same response here, wasn't checking the price as regularly as I would because I give up. And then 6 hours ago, I did check and I was surprised that it did go to $38k. Now we are in the $39k'ish. I even have to break the news to some of my crypto friends about the dramatic price increase in the last 24 hours.

Quote from: adaseb on June 13, 2021, 11:34:45 PM

However whether the Elon tweet had anything to do with it or not we will most likely break $40K soon and probably retest that $42K resistance. Very crazy how it completly turns around on you when you start getting bearish. So most likely when everyone gets bullish it'll go back down probably.

$40k-$42k is the big barrier, I believed that if we can break it today, we will have a good break out run. I can't remember, but we have been trying to break that big wall of $40k and we have tried like five times already and we always failed. I do hope this time we will be successful.

aoluain

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Quote from: South Park on June 08, 2021, 02:06:40 PM

Quote from: LFC_Bitcoin on June 08, 2021, 08:12:42 AM

There’s been an avalanche of FUD.

Elon
China cracking down

Trump
FBI hacking ransomware address (but not really)

There seems a concerted effort to bring bitcoin down but here we are, still at $32,8xx. Most of the weak hands, retail buyers etc are hopefully gone now. It’ll take a couple of months but we will recover & reach new highs by the end of the year. We are still in a bull market.

The FUD was so effective that almost all the weak hands have sold already, unfortunately we are seeing that those entities are still trying to use the same tactic against us, which is not going to work, after all anyone that has been in this market for years and was able to endure the winter that came after the crash of 2018 has nothing to worry about as it is very difficult that things are going to get as bad as they did back then.

We also saw this in 2017 when the last Bull run in taking place, there was so much FUD
from different sources (cant remember offhand) but it only affected Bitcoin in the
short term, just like what has happened over the last number of weeks, we now seem
to have gone through a consolidation phase and hope to crash past the $40 mark.

Patience is the key as we build the demand again.

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Quote from: adaseb on June 13, 2021, 11:34:45 PM

What a difference 24 hour can make. Yesterday I made a post here saying that things are not looking good and most likely we will retest $30K and break then. And we are almost at $40K right now.

It was week-end and imho the movements from week-ends are not to be trusted.
It's interesting that it already goes up though, since lately Mondays were coming with price decreases more often than growths.

Quote from: onecall123 on June 14, 2021, 12:13:42 AM

This is not first time Bitcoin trying to penetrate $40K wall, yet incapable to do.

Yet, it's very close to that level.

I won't definitely say it'll go in this or that direction. I just don't know now what to expect on short term. One week ago I thought/hoped that we'll be past 45k by now. I guess that we just need a bit more patience.

onecall123

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Quote from: adaseb on June 13, 2021, 11:34:45 PM

What a difference 24 hour can make. Yesterday I made a post here saying that things are not looking good and most likely we will retest $30K and break then. And we are almost at $40K right now. I took a short at $36K and it didn't work. Because yesterday it looked like it was going to break-down.

However whether the Elon tweet had anything to do with it or not we will most likely break $40K soon and probably retest that $42K resistance. Very crazy how it completly turns around on you when you start getting bearish. So most likely when everyone gets bullish it'll go back down probably.

This is not first time Bitcoin trying to penetrate $40K wall, yet incapable to do. However, Bitcoin resembles a pleasant purchase to retest $40K then maybe $42K would happen. I'm not amazed to see Bitcoin above $42,000 by next weekend or either way could happen. I wish Bitcoin could manage to go independently this time.

adaseb

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What a difference 24 hour can make. Yesterday I made a post here saying that things are not looking good and most likely we will retest $30K and break then. And we are almost at $40K right now. I took a short at $36K and it didn't work. Because yesterday it looked like it was going to break-down.

However whether the Elon tweet had anything to do with it or not we will most likely break $40K soon and probably retest that $42K resistance. Very crazy how it completly turns around on you when you start getting bearish. So most likely when everyone gets bullish it'll go back down probably.

Shasha80

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Quote from: Marvelman on June 13, 2021, 05:06:44 AM

The past month has been one of the most boring in terms of bitcoin price movement since beginning of this year. It seems the two main arguments supporting and dismissing the bitcoin price movement are finally becoming clear. BTC could be witnessing the "calm before the storm". Maybe up, maybe down, but hopefully up...

and finally! Bitcoin really broke out of the first resistance, and the second resistance was at $40k,
if you can breakout from there there is a chance Bitcoin will continue to $42k, strong resistance is at $42k,
if it hasn't made it past $42k don't try to buy with bags a lot, just buy it to get profit, mate, don't be greedy

Right now Bitcoin is trying to get past the $40k resistance, hopefully it can happen in the near future. If it makes it past $40k, the next one should
get past $42k. I agree with you, we should buy Bitcoin before it crosses the $42k price. Because if Bitcoin manages to cross the $42k price,
what happens is that Bitcoin will continue to rise rapidly to higher prices. And we will regret not taking advantage of the opportunity now to buy
Bitcoin at the current price. But remember don't buy Bitcoin with all the capital we have, just in case Bitcoin goes down again. It is better when
investing in Bitcoin is gradual and don't be greedy because you are carried away by emotions.

DOH!

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Quote from: adaseb on June 12, 2021, 11:51:37 PM

Things are not looking good to be honest and I think we will at the very least retest $30K one more this, and quite possbility break this time. Reason being is that we had good news like El Salvador and Saylor however we still failed to go to $40K.

Mempool for both ETH and BTC is empty. Volumes are low everything. Futures OI is low. NFTs and DEfi hype seems to have died down. And by the looks of things seems all the retail people went back to stocks and are buying AMC and BB again to form a short squeeze.

Or it could just be a slow summer. We might not get any decent action until Fall.

Patience, calm and discernment are essentials this summer. Now, Of course, the main developments are still G7, Taproot, El Salvado ... even Elon's tweet - Tesla( again, accept bitcoin

). The light of dawn has returned after patience and calm with very intense holding plans. I think , Hold will win.

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We should see mempool fill up again now that difficulty adjustment kicks in. Got all my urgent txs out to weather the small swell we should see.

A bit surprised there wasn't a bigger price action on the weekend though... Maybe some last min Sunday swings before our Far East friends take over?

Marvelman

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The past month has been one of the most boring in terms of bitcoin price movement since beginning of this year. It seems the two main arguments supporting and dismissing the bitcoin price movement are finally becoming clear. BTC could be witnessing the "calm before the storm". Maybe up, maybe down, but hopefully up...

CryptopreneurBrainboss

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Quote from: South Park on June 08, 2021, 02:06:40 PM

The FUD was so effective that almost all the weak hands have sold already, unfortunately we are seeing that those entities are still trying to use the same tactic against us, which is not going to work, after all anyone that has been in this market for years and was able to endure the winter that came after the crash of 2018 has nothing to worry about as it is very difficult that things are going to get as bad as they did back then.

Sadly they're succeeding, the fud with the old strick are still working because every bullish market brings in new set of noobs that haven't have to endure the winter of the market were everything is declining daily. When they see the bloodbath they just panic as they're not used to it.

Looking at how the market is paying out, I believe we have future fud coming, the decline isn't done yet although that doesn't mean I'm bearish on bitcoin. For the long term the sentiment is bullsih as I believe we'll be going into the main bear market late next year.

But for the short term, If we're to dip below $30k then you'll see the selling incoming in as the weak hands left would want to sell out especially those that bought at the $20k milestone we crossed few months back.

adaseb

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Things are not looking good to be honest and I think we will at the very least retest $30K one more this, and quite possbility break this time. Reason being is that we had good news like El Salvador and Saylor however we still failed to go to $40K.

Mempool for both ETH and BTC is empty. Volumes are low everything. Futures OI is low. NFTs and DEfi hype seems to have died down. And by the looks of things seems all the retail people went back to stocks and are buying AMC and BB again to form a short squeeze.

Or it could just be a slow summer. We might not get any decent action until Fall.

STT

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Speculative activity can be deceptive in its process, it fills the space overwhelms the landscape with noise and then can equally disappear and leave a void, a silence which upsets many who expected a consistent crescendo without any rest. Its not new we'll recover and for sure it takes more time to go through these prices from start of 2021.
I still think BTC is positive trending but froth is not a positive description though it can be very profitable its not that surprising we must take some time to find the real back bone to the blockchain and thats time and requiring more real action then just orders on an exchange for any strength to show through. Lots of impatient people, still we got the natural usage of BTC and I will be using BTC quite alot into this weakness in the useful way it helps me transfer value through digital items and the usual gambling and all kinds of online activity is always far more important then the hype.

If theres a storm dont be afraid in that time.

7788bitcoin

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Quote from: NeuroticFish on June 08, 2021, 07:17:11 AM

This clearly looks like an uncommon Tuesday. I mean when did we see the mempool empty and with not much "willingness" to fill up?

The volumes aren't great either, from what I've seen. Is everybody waiting for... something? Roll Eyes

Even i was confused to see that the mempool was empty and i was seeing that after a very long time and literally i could not believe that and i initially thought something is wrong with my internet connect or the service provider as the fees they are showing even for faster transaction was a few Satoshi and i even made a transaction which went through within 20 minutes at a really low transaction fees.

No idea what is awaiting us and hopefully we will see a huge rally once again in the coming months.

South Park

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Quote from: Mahanton on June 08, 2021, 05:51:23 PM

Quote from: palle11 on June 08, 2021, 04:55:59 PM

It has been a dull week actually do Tuesday is just taking over from what the beginning is.
The supply and demand is the reason for the slow start which is why the mempool isn't filling up. I think there are still fuds in the market environment whose sentiment is causing sell off and bitcoin is dropping too.

But at least we are holding strong where the price is playing around 30K+ which i dont consider for it to be bad despite on the current situation and events we are witnessing and seeing in the market but still it do able to held up even though it is lower compared in past months but it do shows that it cant really dropped that low and we should consider that the price is still high since we are just hoping wayback on breaking its previous ATH which is 20k and now we are still ahead or up into that level. Demand is one of the main factors and once people do start to buy once again then we would see those common situation on the mempool.

It is incredible the short memory of people, do you remember for how long we wished we went back to the ATH of 2017? And now after a huge correction we are still way above it, to me this is great news, I would be worried if the price of bitcoin went below that level as all bets will be off at that point, but with the price being so high in my opinion there is only one direction the price can go and that is up, it will take some time but we will surely see this before the year ends.

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The market crash has triggered a series of very big emotions, for now I think there is a tenuous calm that can make many reflect, the bearish will continue to attack, we just have to wait for the bulls to start countering:

Quote

The change in Bitcoin ownership and the change in HODLers profitability at the current price level are signals of an upcoming Bitcoin price rally. Besides the top two metrics that point towards a rally, the current drop in demand is indicative of Bitcoin’s price rally in the short term.

The price was at the $35000 level based on data from coinmarketcap.com and that was likely to change, as the price breaks past $40000, an important psychological support level.

Source: https://ambcrypto.com/these-bitcoin-metrics-point-to-a-move-to-this-price-in-the-next-2-weeks/

It is expected that it can reach a recovery of the BTC market to almost $ 43k, this strong correction can give a good bulish rally, this in the medium term approximately.

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