Topic: The king is about to wake up. - page 2. (Read 665 times)

That's only partially true. Some plebs HODL, but are easier manipulated by the whale-cumulators into selling their coins to them. Next whale-cumulator move is to outbid the plebs during a bull market. Plebs' move?

Well, the $14,000 USD mark is approachable and I guess it will not be this year but the year 2020 that we can reach these heights, cause I guess there is still a lot of drama in the market and resistance going on that is why it is pretty sure to move back a bit but we are still in the midst of a bull run but this bull run can take turn and this movement is not very promising in my opinion, but who's in a hurry if the price is still in the smooth sailing of $10,000 USD it is a fair price in my opinion for having it for almost many weeks now.

Bitcoin may wake up now onward and go there and there is no chart that will stop it from going there if this time also resistance around $14 stops it one more time. Just to give an example what stops a rich person to sell 20k bitcoins all at once right now? Surely they won't do it because it would mean they would lose money but that is literally a possibility in crypto since there is no regulations. It means saying bitcoin won't do this or that is not correct.

However, you can use words like "probably" or "likely" and that way you can get away from that sharp way of talking. All things considered I agree with OP, bitcoin is about to make a big increase, everything indicates that right now and I am honestly considering it a big possibility as well.

Plebs dont like the technology behind bitcoin. They want it only for quick profits, and see it as a ponzi scheme.

This will only change when governments adopt bitcoin as a second currency, which will probably not happen since it would threat the dollar as the global reserve currency. I dont need to remind anyone about what happened to Lybia when they tried to create a regional reserve currency.

Let the plebs be plebs and let the whales accumulate. We cant change human nature.

We have to create noise around the market, its time to wake up the king to serve his kingdom. Well, bitcoin have to pump after this fall because we can’t go below the level of $5k again. There are so many indicators that give the pump sign with bitcoin, in time it will begin to follow that indicators and make a good uptrend.

Agreed, the rise and fall in value of bitcoin is completely uncertain. Last time we encountered the increase in the price only after the days of halving. We don't know what is going to happen by this halving. This could possibly reach a bigger price than predicted, making the king more stronger than ever.

Plebs sold, whale-cumulators bought everything up, and took Bitcoin back to $10,000. Their next move, outbid everyone. Plebs' move?

I think that a factor to be added is the end of summer. Especially October was not a bad month for Bitcoin even last year (2 years ago that was imho the start of FOMO!)
The upwards pressure grows and the traders are back to work.

It’s just a matter of time before we start to rise significantly again. The halving in May is coming soon & honeybadger always wakes up as we get near to the halving. I definitely think the King will begin to rally soon.

Too many people want that. There's just too many buyers waiting in the wings. Here's what Tim West had to say after this last dump was fully retraced. Specifically he's talking about an OBV derivative indicator called rgmov, and how it's really weak in BTCUSD:


Many other indicators are telling me the same thing.

$3K is long gone. Be ready for a violent rally any day now.

I disagree. It would be a blessing if we went back to $3000 ish for a final bottom. That would be the "go all in" moment. And personally the all time chart would look more confident for me if we went towards that area for either a lower bottom or a new low, then go for a $100k+ ish ATH for the next halving (and I don't mean 2020 halving but 2024). If you translate what I said into a chart you'll see it looks way more solid. However if the bottom is really in, then we better get to ATH for the next inmediate halving, because being rejected there would only delay an actual ATH further typically (again, this is Bitcoin we are talking about here).

I do not think anyone who is into Bitcoin would love to see it tank, even for day traders like myself I have more interest for the upside, I also feel bad for those bought at 13k , a drop to 6k will most certainly make the majority of them leave the game.

The problem with breaking below the 20SMA  on the weeky is that the trend will lose it's bullish characteristic, we may very well enter a bear market for another year or so, I doubt it will be just a matter of testing the 5-6k region and then heading back to ATH , I do not see it going that route.



A daily close above the green trend line is bullish enough to me, right now we are looking at 10600$ , the triangle is getting squeezed , the market has got to decide before the 9th of October , I expect next week  to be a very interesting week for bitcoin.

Classic head fake with that dip to the $9,500s! Looks like bears were rejected with authority and bulls are now on the verge of breakout.

We could conceivably keep ping ponging a bit longer inside this range but I doubt it can hold much longer. The down trend line from the June top stands around $10,350. That's our first major obstacle. Breaking and closing above the $10,800-$11K area will confirm a new uptrend. It'll form a higher high on the daily and trigger a BB squeeze.

It depends on what side of the trade you are of course, but I do agree that most people would consider that a nightmare.

In the end, how tragic can it really be? Before we saw the price pump from $4000 to $5000 most people didn't give Bitcoin a single chance to come anywhere near the $10,000 level before the end of the year. I have seen people throw around with sub $1000 bottom scenarios. $6000-$7000 will definitely shake out a lot of week hands, but at the same time still be a fantastic area to settle a new bottom.

I see a bearish break as one last MAJOR buying opportunity for those who missed the boat. Heck, I would use that as a buying opportunity too. It's too good to say no to.

In my last analysis   I talked about how we were suppose to test the 20SMA on the weekly chart after closing below the 5SMA






The only mistake I made was estimating at which point that test would be, and I did mentioned this


fortunately for some people and unfortunately for others, price stayed almost leveled and the 20SMA managed to get to 9797$ and today was the actual test on the 20SMA on the weekly chart.

we had a wick all the way down to 9.5k which i excepted to be even more severe, but that does not really matter anyhow, let's now view the current situation and explain to you why do I think that  by next week and probably for a good number of years we will most likely never be able buy bitcoin for 9500$.




By looking at the weekly chart on the BLX chart ( I would prefer you open the chart and have the 20 and 5 SMA on the weekly chart to get a better view as the image is not clear enough)


We see from the chart, that the 20SMA is the most accurate SMA which differentiates the bear or bull market condition, and there is no debate here that we are in a bull market now.

Another thing you can clearly see from the chart , after everytime the 5 and 20 SMAs get squeezed to the point that they touch one another, it's usually followed by a good run to the upside in a bull market, and to the downside in a bear market.




Zooming in the chart we can see the squeeze, the 5SMA is at 10098$ while the 20SMA is at 9797$ , by next week  the latter should be at higher price and the 5SMA will probably be at the lower price and they will meet at the same price level probably 9900$ or so.

in the past everytime we had this squeeze, price gradually and slowly increase for 4-5 weeks and then takes a spaceship to the moon , we also know that whenever price touches the 20SMA after hitting the bottom ,it marks the cheapest price bitcoin is ever going to be.


How does this scenario becomes invalid?

1-5SMA crosses the 20SMA to the downside
2-A weekly candle closes below  9797$

If these 2 things happen, I am not sure how to describe the situation with any other words but  "tragic".