Quote from: death_wish on Today at 07:49:52 AM

Quote from: somac. on Today at 07:34:57 AM

Quote from: serveria.com on Today at 07:28:53 AM

That red dildo on a weekly is ENORMOUS! Shocked

Please, can we have a dead cat bounce at least? Cool

There just isn't any demand. This bleeding is probably going to keep going, liquidations still to come many think.

That is an even weirder looking chart movement than I recall from the initial crash May 5... or the very rapid crash June 13. It also reminds me of the incremental $500–$1000 down movements between about May 5–10 or so (IIRC), as I have mentioned to you—except that now, $1000 is 5%... huge.

It looks to me like a high-capital sophisticated player has developed a systematic way to punch downward through support, and is applying it to break Bitcoin’s back. In early May, I questioned myself. A few days ago, I hesitated. Now, I am settling on “unproved, but highly probable”.

RIP 200 WMA. Bye-bye Schelling point for a Bitcoin Bottom.

That is what worries me, NOT the current price in itself. I am thinking that this is to equalize Bitcoin’s status with POS altcoins. Altcoins have no bottom. Buy alts, even relatively good ones, and you can just watch them drop as you think to yourself, “Oh, dear. This thing has no bottom. Nothing like Bitcoin’s 200 WMA line.”

That is what concerns me for political reasons and Bitcoin idealism, not mere market speculation. They are trying to break the Honey Badger: For it is a challenge, a threat to financial corruption. This was my realistic worry, thinly veiled as dystopian fiction to avoid FUDding Bitcoin or coming off as a bear.

I don't doubt your theory.