BTC down 8% on catching thieves $
Sold my $SPCE position today in momo land. Landscape looking precarious.
On one hand it's good that criminals may be getting out of crypto, otoh it shows how much crypto is supported by criminals.
Bitcoin
- Thread starter Ron Resnick
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On one hand it's good that criminals may be getting out of crypto, otoh it shows how much crypto is supported by criminals.
BTC = $45,200
We won't know unless the prior high of 64,899 is exceeded, but this is looking to me like more than a dead cat bounce off of 29,300.
We won't know unless the prior high of 64,899 is exceeded, but this is looking to me like more than a dead cat bounce off of 29,300.
If it manages a new all time high in the next few weeks it will start to get really interesting.
Kicking myself I didn’t buy more a month ago when it dipped substantially...oh well.
It's always a good time to buy Bitcoin. Think long term.
still in no man's land to me, but relative to other asset classes it looks better. 48-50k was my sell zone on the initial big drawdown
ethereum > btc to me in crypto
ethereum > btc to me in crypto
Cycle tops occur in the first week of September and the rally is approaching the 62 pct retracement of the first decline
The Stock market cycle top is due also. Cycles can invert. The 4 year cycle low is due in 2022,the 9 year in 2023 and the 40 year in 2024.
The Stock market cycle top is due also. Cycles can invert. The 4 year cycle low is due in 2022,the 9 year in 2023 and the 40 year in 2024.
If BTC tops at a typical 62 pct retracement and starts declining in another 5 wave impulse new lows are indicated.
I.would think.a stock market top.would bring in a market break of 1500 to a 2k point loss in a day
If these markets persist to advance through October then I would say the 4 year cycle inverts but leaves the 2023 and 2024 low in tact
Believe me you'll know if we get a major trend change. It will start in Japan and Asia and move to Europe and then America. Just my thoughts..not advice.
Japan is the "canary in the coal mine".
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Btw Ron, I found a BTC chart I counted in real time. I wish I had gone short....oh well...there are always opportunities.
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I understand. You and KeithR are traders.
My personal, non-professional view is that BTC is so volatile that it is difficult to implement traditional technical analysis. I feel that often by the time traditional signals turn you've already missed an important part of the move.
The break below $46,000 around May 16 was an extremely clear lower high and lower low, but I just did not trust myself to get back in deftly enough on the way back up.
My personal, non-professional view is that BTC is so volatile that it is difficult to implement traditional technical analysis. I feel that often by the time traditional signals turn you've already missed an important part of the move.
The break below $46,000 around May 16 was an extremely clear lower high and lower low, but I just did not trust myself to get back in deftly enough on the way back up.
Ron,
The only thing I can say is I think BTC is about the only free market in the world,with out manipulation by Central banks. I think it counts beautifully.
Here is Japan...pulled this off my screen a minute ago....to my eye it is clearly impulsing down in a 5,3,5,3...but it doesn't quite count right...instead of a 1,2,3,4,5 it looks better as a nested 1,2,1,2....either way both bearish. the nested count usually leads to a acceleration to clear up the ambiguity.
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