Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5387.

somac.

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Quote from: Gyrsur on May 27, 2021, 07:47:00 AM

Quote from: somac. on May 27, 2021, 07:25:27 AM

Still not 100% following you, but this dip was certainly nothing like the 2017.

it's almost a rule that in a bullish phase the lows of bubbles are not lower than the former highs of the pre bubble. there are very few exceptions if you scan the chart.

~~in a bullish phase~~ the price will never fall under the former ATH. exception was in January 2015 but the fundamental was the break-in into Bitstamp (the second important marketplace after Mt.Gox which bankrupted in early 2014).

it's very clear for me that this is not the end. why you guys have so much s**t in your panties? Shocked

So what your saying is the bullish phase is over (for a little at least) and by "not the end" you mean it's not the end of the correction?

Sorry, for some reason I'm just not understanding what you were getting at. It's your wording that is confusing me.

IMO though we have witnessed another March last year type of an event, brought on by mass FUD attack, completely overblown by the noobs, and therefore any technical analysis based off it is completely inaccurate.

Including the low being lower then the previous high.

Gyrsur

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Quote from: Bergluft on May 27, 2021, 07:35:09 AM

Quote from: Gyrsur on May 27, 2021, 06:31:07 AM

conclusion: this time it is different. you cannot compare the bull run of 2017 one-to-one with the situation today.

reason: if you look into the chart of the pre 2017 ATH you will recognize that after the burst of a mini bubble the low after was never lower than the high of the former mini bubble. but this time the low is lower than the pre high. that leads to pure panic in the market. you can called it manipulation of the market.

Either it is manipulation OR it is that it has been much easier to speculate into shitcoins this time. People do not have to go via BTC this time to buy their favorite dog-moon coin. This also means comparisons between BTC 2017 and 2021 charts are not very meaningful. Comparing how the mcap of the entire crypto market behaved makes much more sense (unfortunately). If you look at total market cap you will see an extreme parabolic rise and consecutive higher highs with a clear blow off top (that many are arguing is missing in this bull run).

In other words, the lower lows and rather slow decline could be caused by craze just shifting to other sites, i.e. shitcoins.

Not something I personally like to see, but certainly something to consider.

your arguments are worth to consider for me. but it would mean the ATH after the 2020 halving event is just $64,895?

NEVER EVER Cool

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Gyrsur

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Quote from: somac. on May 27, 2021, 07:25:27 AM

Still not 100% following you, but this dip was certainly nothing like the 2017.

it's almost a rule that in a bullish phase the lows of bubbles are not lower than the former highs of the pre bubbles. there are very few exceptions if you scan the chart.

~~in a bullish phase~~ the price will never fall under the former ATH. exception was in January 2015 but the fundamental was the break-in into Bitstamp (the second important marketplace after Mt.Gox which bankrupted in early 2014).

it's very clear for me that this is not the end. why you guys have so much s**t in your panties? Shocked

somac.

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Quote from: Bergluft on May 27, 2021, 07:35:09 AM

Quote from: Gyrsur on May 27, 2021, 06:31:07 AM

conclusion: this time it is different. you cannot compare the bull run of 2017 one-to-one with the situation today.

reason: if you look into the chart of the pre 2017 ATH you will recognize that after the burst of a mini bubble the low after was never lower than the high of the former mini bubble. but this time the low is lower than the pre high. that leads to pure panic in the market. you can called it manipulation of the market.

Either it is manipulation OR it is that it has been much easier to speculate into shitcoins this time. People do not have to go via BTC this time to buy their favorite dog-moon coin. This also means comparisons between BTC 2017 and 2021 charts are not very meaningful. Comparing how the mcap of the entire crypto market behaved makes much more sense (unfortunately). If you look at total market cap you will see an extreme parabolic rise and consecutive higher highs with a clear blow off top (that many are arguing is missing in this bull run).

In other words, the lower lows and rather slow decline could be caused by craze just shifting to other sites, i.e. shitcoins.

Not something I personally like to see, but certainly something to consider.

An interesting possibilty for sure. The sheep are stupid compared to the early adopters. Being that they are so stupid they don't understand the difference between bitcoin and shitcoins, but, they do listen to their followed twitter shill that simply says this xyz shitcoin is going to take over bitcoin, because reasons. No further analysis by sheep needed, just shut up and take my money..

Bergluft

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Quote from: Gyrsur on May 27, 2021, 06:31:07 AM

conclusion: this time it is different. you cannot compare the bull run of 2017 one-to-one with the situation today.

reason: if you look into the chart of the pre 2017 ATH you will recognize that after the burst of a mini bubble the low after was never lower than the high of the former mini bubble. but this time the low is lower than the pre high. that leads to pure panic in the market. you can called it manipulation of the market.

Either it is manipulation OR it is that it has been much easier to speculate into shitcoins this time. People do not have to go via BTC this time to buy their favorite dog-moon coin. This also means comparisons between BTC 2017 and 2021 charts are not very meaningful. Comparing how the mcap of the entire crypto market behaved makes much more sense (unfortunately). If you look at total market cap you will see an extreme parabolic rise and consecutive higher highs with a clear blow off top (that many are arguing is missing in this bull run).

In other words, the lower lows and rather slow decline could be caused by craze just shifting to other sites, i.e. shitcoins.

Not something I personally like to see, but certainly something to consider.

somac.

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Quote from: Gyrsur on May 27, 2021, 06:53:06 AM

Quote from: somac. on May 27, 2021, 06:42:42 AM

Quote from: Gyrsur on May 27, 2021, 06:31:07 AM

conclusion: this time it is different. you cannot compare the bull run of 2017 one-to-one with the situation today.

reason: if you look into the chart of the pre 2017 ATH you will recognize that after the burst of a mini bubble the low after was never lower than the high of the former mini bubble. but this time the low is lower than the pre high. that leads to pure panic in the market. you can called it manipulation of the market.

Which mini bubble are you referring too? And what's your opinion on direction of market from here?

that's my opinion.

Quote from: Phil_S on May 27, 2021, 05:13:35 AM

save your wealth.

Still not 100% following you, but this dip was certainly nothing like the 2017.

To me the only similar fall is March of last year, there was of course a lot of fear in the market back then too.

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Explanation

Gyrsur

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Quote from: somac. on May 27, 2021, 06:42:42 AM

Quote from: Gyrsur on May 27, 2021, 06:31:07 AM

conclusion: this time it is different. you cannot compare the bull run of 2017 one-to-one with the situation today.

reason: if you look into the chart of the pre 2017 ATH you will recognize that after the burst of a mini bubble the low after was never lower than the high of the former mini bubble. but this time the low is lower than the pre high. that leads to pure panic in the market. you can called it manipulation of the market.

Which mini bubble are you referring too? And what's your opinion on direction of market from here?

that's my opinion.

Quote from: Phil_S on May 27, 2021, 05:13:35 AM

save your wealth.

somac.

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Never selling

Quote from: Gyrsur on May 27, 2021, 06:31:07 AM

conclusion: this time it is different. you cannot compare the bull run of 2017 one-to-one with the situation today.

reason: if you look into the chart of the pre 2017 ATH you will recognize that after the burst of a mini bubble the low after was never lower than the high of the former mini bubble. but this time the low is lower than the pre high. that leads to pure panic in the market. you can called it manipulation of the market.

Which mini bubble are you referring too? And what's your opinion on direction of market from here?

Gyrsur

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conclusion: this time it is different. you cannot compare the bull run of 2017 one-to-one with the situation today.

reason: if you look into the chart of the pre 2017 ATH you will recognize that after the burst of a mini bubble the low after was never lower than the high of the former mini bubble. but this time the low is lower than the pre high. that leads to pure panic in the market. you can called it manipulation of the market.

First line from below: ATH 2017
Second line from below: High of the first Mini Bubble
Third line from below: High of the second Mini Bubble

the Low of the second Mini Bubble is much lower than the High of the first Mini Bubble. the aim was to shake out the weak hands.

EDIT: updated with a pic.

EDIT2: second pic is the same as the first one but with a logarithmic scale. we have a long way to go in front of us until we will reach the next bear phase.

EDIT3: something to consider too: before the ATH 2017 there were no PRO tools like (regulated) Futures and Options available to trade with. the burst of the ATH Bubble of 2017 happened at the day of the start of the BTC Futures on CME.

ChartBuddy

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