Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
$30,000 definitely feels like the $6,000 point in 2018. We’re just here chilling, thinking this is the bottom & we can’t go any lower. I hope it is but if we test the lows I am going to buy with all I have.
Interesting times!
Interesting times!
True, but... $3k was not supposed to happen: it was caused by a black swan event when sort of a flash crash happened and we were back to ~$6k soon. So quite possible $6k was the true bottom. We will certainly never find out. Atm I don't see how we can go lower than $25k without something really apocalyptic like "US bans Bitcoin" which is btw totally possible because of the latest news of Russia embracing BTC. There's always old good zombie apocalypse for sure too...
Actually, we had a "natural" crash to 3k before the Covid crash, we hovered at 3k for 4 months. Covid was just a short revisit to that 3k area.
Couldn't be bothered to say it when read this earlier but yes, this was a natural crash to $3.2K based on basic TA and probability. That of a 9-month long descending triangle with a -48% target to the downside. It hit perfectly.
The so-called black swan event in 2018/2019 was supposedly based on BSV launch, but as per usual, this was simply attributing a cause to an effect, whereas a drop was due anyway.
PS - Gave you 20 merits for one of yours posts I liked in error. Was supposed to be 10 but clicked refresh to check remaining sMerits so sent another 10 in error. Please redistribute wisely.
(El duderino_is to blame for my generosity)