Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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?
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.
good hint. I saw this Wyckoff thing on FB too. if you dive deeper into it we should be in Phase B now?
and that is also what I mean with mini-bubbles in a bull phase (weekly or monthly view).
I guess the confusion comes from the different time frames we are looking at. I do watch more the weekly or above view. and you guys seems more looking at shorter time frames for day trading. so to speak I'm more the Investor and you are more the Traders. am I right?
I'm very convinced we are still in a bull run on larger time frames. but you will have several mini-bubbles in this long bull run until the next ATH. and this mini-bubbles will burst too but it is not the end of the larger bull run. the burst of the last mini-bubble happened some days ago. do you guys get now my thoriei with the mini-bubbles?