Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
This dip is too small to be recognized as a 'crash'. At the local bottom of 55850$ it is only 18.8% below the last ATH. The bulls are still aiming at 100K and they are stealing with a huge discount from the weak hands (again 
). Happy Black Friday to all that have fiat to buy the dip! There is no question that 100K can be reached in a few weeks when the whales decide to do it. Although the path looks longer starting with 56K compared to 69K, all those hundreds of thousands bitcoins sold now, won't block the way to 100K. I wasn't optimistic about PlanB predicitons, but now with this volume and oversold RSI's, the chance of getting 100K before 2022 has increased significantly.
). Happy Black Friday to all that have fiat to buy the dip! There is no question that 100K can be reached in a few weeks when the whales decide to do it. Although the path looks longer starting with 56K compared to 69K, all those hundreds of thousands bitcoins sold now, won't block the way to 100K. I wasn't optimistic about PlanB predicitons, but now with this volume and oversold RSI's, the chance of getting 100K before 2022 has increased significantly. For bitcoin, upside momentum continues to slow on the daily price chart, suggesting continued profit-taking among buyers. And the relative strength index (RSI) on the daily chart is not yet oversold, which provides scope for further downside in BTC over the short-term.
The 100-day moving average, currently around $53,000, could attract buyers similar to late September, which preceded a price recovery.
For now, intraday charts appear deeply oversold. This means buyers could defend immediate support around $56,000, albeit briefly given strong overhead resistance on the charts.
CD
Please be careful posting full identical sentences from i.e. Coindesk as if they were your own statements, it's called plagiarism and highly frowned upon around here:
For bitcoin, upside momentum continues to slow on the daily price chart, suggesting continued profit-taking among buyers. And the relative strength index (RSI) on the daily chart is not yet oversold, which provides scope for further downside in BTC over the short-term.
The 100-day moving average, currently around $53,000, could attract buyers similar to late September, which preceded a price recovery.
For now, intraday charts appear deeply oversold. This means buyers could defend immediate support around $56,000, albeit briefly given strong overhead resistance on the charts.
The 100-day moving average, currently around $53,000, could attract buyers similar to late September, which preceded a price recovery.
For now, intraday charts appear deeply oversold. This means buyers could defend immediate support around $56,000, albeit briefly given strong overhead resistance on the charts.
Your merit whoring gets a bit overboard lately. Except if your are the original author at Coindesk, then I apologize..