Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Bitcoin can't even consolidate and is still fighting to not go below $266. I don't understand how some of you are claiming the next bubble is starting soon. Is not the most clear indicator of full denial?
So is depression and despair all it takes to get this bubble started.
OK then.
Bitcoin is dead! It is going nowhere!
(we can go up now)
Words need to be followed by actions, or it doesn't mean anything.
And anyway, even if we reached bottom (which maybe not) bitcoin is not probably going to rally any time soon. First it needs boring months of consolidation, where people can start forgetting how painful is going down for months. So they can start slowly gaining confidence and buying again.
I thought we already have several boring months of consolidation? It has been a very long year.
Going down, down and more down doing new lows in a dead cat bounce is not a consolidation.
Has the Bitcoin price ever really flat lined? I think it has been fairly steady for a while. All of October was around $350.
That was a rebound from a huge multi-month dump plus a failed attemp to consolidate again, so it is going down at the moment.
Is not about a flatline, is about market gaining enough confidence. So market stop thinking we could make new lower lows again at any time soon.
Only permabulls and bagholders believe (or try to believe) we are going to the moon at any time soon. Rest of the market is really scary to buy and hold before this downtrend is over. That's the reality.
Did you hear "don't try to catch a falling knife"?