Bit of a nail biter when I woke up this morning! Bulls breaking above $9,000 one minute, and then the next minute, that Bitstamp whale is back dumping hundreds of coins into a thin book.
Someone (probably a major short holder on Bitmex) was obviously trying to paint a breakout failure on the chart. Not the wealthiest whale around because they only sell on Bitstamp (which has the worst liquidity) instead of coordinating dumps.
What an asshole. I hate when people try to paint the chart. I hope bulls absorb the dump and margin call this jerk.
Topic: Triangle breakout (Read 394 times)
We'll eventually reach a point where most sellers/shorters will have capitulated + bought back.
Its possible to track % shorts or at least contrast the order book from now to then. So we should be aware at some level when people are being too relaxed on the potential for downside movement.
When I look at a longer term chart on weekly bars I do see this price roughly as being a major turning point, an area where bars closed out. 8500 was the top of prices about a year ago july 2018 and also top of the initial pin roughly in the Feb sell and recovery back up so I see some significance to this area. I also thought that about 6500 though and it wasnt enough to stop and think about for long
The sad part is we are not too late but we are not too early neither. I have luckily kept all my bitcoins but I have failed to purchase more earlier as well so I could have had a lot more bitcoins too.
It is still looking early and we may top out at 20+ thousand dollars because I know that psychologically we have seen 20 thousand dollars before and anything until that point is "we have been here before" and that is why it is easier and quite possible but anything above 20 thousand dollars is unseen in bitcoin world so its going to be the first time we reach those levels and will be harder.
I don't know when it will happen or how it will happen but until 20 thousand dollars it will be easier than above 20 thousand dollars I am sure about that part of it.
It is still looking early and we may top out at 20+ thousand dollars because I know that psychologically we have seen 20 thousand dollars before and anything until that point is "we have been here before" and that is why it is easier and quite possible but anything above 20 thousand dollars is unseen in bitcoin world so its going to be the first time we reach those levels and will be harder.
I don't know when it will happen or how it will happen but until 20 thousand dollars it will be easier than above 20 thousand dollars I am sure about that part of it.
I first properly got into Bitcoin in 2016, after hearing about it and even asked to check it out by a friend in 2013. The backstory to that was a really bad experience with digital currency more than a decade earlier, where I lost a business and ended up in debt, long story short, it was bad timing regulatory wise for digital currency.
I do regret that the bad experience made me dismiss Bitcoin as just another one doomed to fail when Uncle Sam wakes up, regret that it didn't occur to me it was something completely different until I finally sat down to read about it and get a wallet back in early 2016. Even that was timing, because I was in bed after a long illness in Dec 2015 and with nothing to do but read online.
Imagine that by the time 2017 arrived I had barely scraped enough Bitcoin, still had no idea the bullrun was about to begin, but every few weeks after for the next year, every satoshi I managed to get was worth that much more.
Even since last winter and when we ploughed 3k I wished I had the chance to get more and here we are at 8.5k.
Remember, it doesn't matter in the end game.
There is also some variance in the volume, I think the price is rising without much volume, this means that it can continue to rise without much effort, which makes a correction a bit difficult ..... as tensorcharts has come a lot of volume shopping, it's as if they buy without importing the price.
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This feels like the late stages of a rally. Shorts aren't quite done squeezing yet but this is getting dangerous to hold longs for too long.
People have felt similarly to that all along since Feb at least.
Back in February we were only trading 15-30% above the ultimate lows. We've risen nearly 190% from the bottom now. Big difference! The sentiment between then and now is also tangibly different.
Peter Brandt calls this the "FOMO phase" of the rally. We'll eventually reach a point where most sellers/shorters will have capitulated + bought back. That's when a big correction will come. I believe we're in a bull market but every bull market has deep corrections.
The sad part is we are not too late but we are not too early neither. I have luckily kept all my bitcoins but I have failed to purchase more earlier as well so I could have had a lot more bitcoins too.
It is still looking early and we may top out at 20+ thousand dollars because I know that psychologically we have seen 20 thousand dollars before and anything until that point is "we have been here before" and that is why it is easier and quite possible but anything above 20 thousand dollars is unseen in bitcoin world so its going to be the first time we reach those levels and will be harder.
I don't know when it will happen or how it will happen but until 20 thousand dollars it will be easier than above 20 thousand dollars I am sure about that part of it.
It is still looking early and we may top out at 20+ thousand dollars because I know that psychologically we have seen 20 thousand dollars before and anything until that point is "we have been here before" and that is why it is easier and quite possible but anything above 20 thousand dollars is unseen in bitcoin world so its going to be the first time we reach those levels and will be harder.
I don't know when it will happen or how it will happen but until 20 thousand dollars it will be easier than above 20 thousand dollars I am sure about that part of it.
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This feels like the late stages of a rally. Shorts aren't quite done squeezing yet but this is getting dangerous to hold longs for too long.
People have felt similarly to that all along since Feb at least. Bitcoin is far harder to judge then many things I think, I'm wary of this leveraged usage and wonder if they makes it weaker on any test. So far its just kept bubbling up, it went through the 6k area far too easily seems like considering how strongly that held as support for alot of 2018
Cutting everything like a hot knife through butter seems like, hard to gauge whats driving it especially and it may not be one thing. The largest thing for me is dollar must stay weaker, its effectively negative interest rate
Those who still got their coins and hold the tokens they have since the time of bear market, will have more patience to hold and if this bulls will continue till the year end it will be logical if they still will hold.
this is the "bitcoin" bull run and only "bitcoin" price is rising not tokens! in fact most of these tokens that people are bag holding are not going to even exist in a year from now let alone give any profit to their bag holders.
Those who still got their coins and hold the tokens they have since the time of bear market, will have more patience to hold and if this bulls will continue till the year end it will be logical if they still will hold. Price of BTC could beat the 20KUSD, we are still in the Q2 of the year. More breakouts will happen soon. When do you think the bears will take over after this?
Those who still got their coins and hold the tokens they have since the time of bear market, will have more patience to hold and if this bulls will continue till the year end it will be logical if they still will hold. Price of BTC could beat the 20KUSD, we are still in the Q2 of the year. More breakouts will happen soon. When do you think the bears will take over after this?
I opened a 10x leveraged long at around $8070 and I plan on keeping it open until the mid $9ks when I plan on closing the position fully. Took a bit of profit near $8800 yesterday, I feel like I could've done better but it's still a signfiicant gain in the end. Feels like this will go sideways for a bit and break up or just break up in the new hours or days. We had a little pump after Bitmex funding happened today (0.3%, 0.375% is the maximum funding rate in an 8 hour period for XBTUSD) and we've fallen to right where we were before that funding pump, though it seems this is actively getting bought up. Looks good for the bulls so far.
Nicely done. I managed to get some longs in around $8,100-$8,200. The FOMO was really fast. I kept missing with my limit orders and had to cancel and market buy a couple times. I already closed about 30% of it into this morning's spike, in case of a failure. The rest I'm hoping to ride until the $10K area. Otherwise I'll let it get stopped out.
This feels like the late stages of a rally. Shorts aren't quite done squeezing yet but this is getting dangerous to hold longs for too long. We might plow through $10K but wherever it finally tops, there's a deep painful crash coming afterwards. I think patient bulls may have a chance to rebuy in the $6,000s again.
I opened a 10x leveraged long at around $8070 and I plan on keeping it open until the mid $9ks when I plan on closing the position fully. Took a bit of profit near $8800 yesterday, I feel like I could've done better but it's still a signfiicant gain in the end. Feels like this will go sideways for a bit and break up or just break up in the next hours or days. We had a little pump after Bitmex funding happened today (0.3%, 0.375% is the maximum funding rate in an 8 hour period for XBTUSD) and we've fallen to right where we were before that funding pump, though it seems this is actively getting bought up. Looks good for the bulls so far.
This week and next week are two weeks to really watch over as I am suspecting bitcoin to break another strong resistance leve at $9050 area. I think the market is going to be bullish until something fundamental happen that might push bitcoin down but it will resume the uptrend again and this uptrend may last until the end of next year. Like op has said "it is not too late to join the ship" .
This a good breakout, we are aiming for an expensive price again and yes in the first week of June it can go beyond the peak of this month. Keep buying, don’t wait for the next wave because it will be at a higher price. We should not too focus on bitcoin, altcoins are doing well also make this as your good option, bitcoin and altcoins will bounce back and enter the uptrend. 
This week and next week are two weeks to really watch over as I am suspecting bitcoin to break another strong resistance leve at $9050 area. I think the market is going to be bullish until something fundamental happen that might push bitcoin down but it will resume the uptrend again and this uptrend may last until the end of next year. Like op has said "it is not too late to join the ship" .
from the graphic indicator that looks like the price of bitcoin has the potential to be very expensive but it will not happen if there is nothing to support and no one buys, but the current price is too expensive so you should be careful when you want to buy.
I expected a break to the downside, but had a price target of around $9500 in mind as peak in case of a break to the upside. Good for my hodl stack, a little less for my speculative stack, but it's all good since you can't be right all the time.
I only use 5% of my total hodl stack for speculative purposes so the 'damage' is negligible, and the price can always fall back below the points I sold so nothing is lost yet.
I'm honestly not sure what to expect anymore. $8000 formed way more of a barrier than the ~$6000 level did, and that while it would make sense to have it be one of the toughest levels to break through.
I only use 5% of my total hodl stack for speculative purposes so the 'damage' is negligible, and the price can always fall back below the points I sold so nothing is lost yet.
I'm honestly not sure what to expect anymore. $8000 formed way more of a barrier than the ~$6000 level did, and that while it would make sense to have it be one of the toughest levels to break through.
Looks really like it, doesn't it?
I have said my worry a couple of posts ago and it still stands, that all these serious waves of growth have not had proper time for consolidations, but I suppose nothing but the most recent resistance and support matters at this kind of ravenous movement.
Altcoins are not looking too great at the moment against btc, and don't laugh but doge btc price is one of my markers. Currently at 35 and dropping steadily since April, it will slide til sub 20s and that's for me the floor for their kind.
2019 is turning out to be pretty fun after all. Lots of people waiting to be proven right and wrong.
I have said my worry a couple of posts ago and it still stands, that all these serious waves of growth have not had proper time for consolidations, but I suppose nothing but the most recent resistance and support matters at this kind of ravenous movement.
Altcoins are not looking too great at the moment against btc, and don't laugh but doge btc price is one of my markers. Currently at 35 and dropping steadily since April, it will slide til sub 20s and that's for me the floor for their kind.
2019 is turning out to be pretty fun after all. Lots of people waiting to be proven right and wrong.
$10K is my next goal now, and I think sooner we will be at that level.
I have already jump shit, thanks for the suggestion but I have been accumulating when bitcoin is still at sub $3000.
For new in the market, it's a great opportunity to have a short ride, as this year will probably and explosive year for crypto.
We have a great day today, tomorrow, I'm expecting great pump when I wake up, I'm just to positive at the moment
as the price that I did not expect to come early, just prove me wrong... More to come, I believe bull run have already penetrated the market.
I have already jump shit, thanks for the suggestion but I have been accumulating when bitcoin is still at sub $3000.
For new in the market, it's a great opportunity to have a short ride, as this year will probably and explosive year for crypto.
We have a great day today, tomorrow, I'm expecting great pump when I wake up, I'm just to positive at the moment
as the price that I did not expect to come early, just prove me wrong... More to come, I believe bull run have already penetrated the market.
I'm curious to see what altcoin/BTC pairs do at that point. If BTC starts flowing into alts rather than fiat, it bodes well for a sustained bull market.
There's always time to jump on the bitcoin board,even if the price crashes back to 4-5K.
I count care less about altcoin prices right now,but the high amount of greed will move many traders out of bitcoin into the altcoin markets,looking for some insane profit margins.
This week and next week are two weeks to really watch over as I am suspecting bitcoin to break another strong resistance leve at $9050 area. I think the market is going to be bullish until something fundamental happen that might push bitcoin down but it will resume the uptrend again and this uptrend may last until the end of next year. Like op has said "it is not too late to join the ship" .
i don't think we can see anything that can push price down before we see another bubble even a small one that pops. which probably can happen close to the halving. other than that the only drops that i expect seeing are the regular corrections that have to happen to keep the market healthy.
but i agree that this following weeks are the important ones, if we keep this momentum we can see $10k be broken too.
This week and next week are two weeks to really watch over as I am suspecting bitcoin to break another strong resistance leve at $9050 area. I think the market is going to be bullish until something fundamental happen that might push bitcoin down but it will resume the uptrend again and this uptrend may last until the end of next year. Like op has said "it is not too late to join the ship" .
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