Ninjastic
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Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
somac.
on 28/05/2021, 08:02:08 UTC
Quote from: Gyrsur on Today at 07:56:23 AM
Quote from: somac. on Today at 07:53:34 AM
Quote from: Gyrsur on Today at 07:17:33 AM

EDIT2: I'm not sure if the effect on weekends is a dip or a pump. the cause is that the traditional banking world does not process FIAT money inflow and outflow to the crypto exchanges and therefore the circuit is broken on weekends.

Definitely a dip. Probably for the reason you mention. Since the peak in price I think every weekend has been a dip, though it does usually bounce back towards the end of the Sunday.

My theory is that during a bull market weekends pump, while during a bear market they dump. I have no data or bothered even checking to see if that is true so take it with a grain of salt.

thanks somac. and this weekend we have a long weekend in the U.S. (Sa, So, Mo). maybe some more dipping?  Roll Eyes

Good chance I think, of course this pattern will change eventually, hopefully this weekend.

I am also seeing a lot of this type of chart around lately

https://twitter.com/WClementeIII/status/1397571523561598980

Apparently this Wyckoff distribution or whatever it is matched the peak. If it matches the the bottom too I expect we'll be back down to 30k at the least, though this chart says 26k, not impossible I guess.