Obvious bear flag was obvious

[Anonymous No.51000471]

If you didn't short this your legit either blind, ignorant or just retarded.

[Anonymous No.51000552]

3 weeks of upward movement wiped out in 1 day haha. Strange strength in the sell pressure though, wonder whats really behind it all

[Anonymous No.51000723]

>>51000552
Part of me feels like it is the Chinese economy slipping.
Might be just "fud" tho and investors scared of the government doing what they did with stocks and gold in the past and pulling money out before they get the chance.
https://www.tradingview.com/chart/MCHI/gSR6OOAc-China-s-Economy-Crisis-What-You-Need-To-Know/

[Anonymous No.51000842]

>>51000723
Is it finna drop more then or nah?

[Anonymous No.51000958]

>>51000842
It will probably bounce between 20-25k for the next year or so, maybe creeping up between 25-30k closer to the halving. I imagine anything sub 20k will be bought up very fast given the amount of time we have spent above it and a lot of people will see it as a last chance to get in. Anything below due to worsening market conditions will be seen across asset classes so you're not safe. Fiat isn't safe because the governments answer to everything is to print money. The only answer is to just buy when ever you have fiat on hand. You're splitting hairs over a few grand per coin when it will probably 5-15x between now and next peak. Regulation will open the floodgates to institutional investors and boomer money so you probably want the majority of your position before that.

[Anonymous No.51001005]

>>51000958
So it will be the year of the crab. Got it.

[Anonymous No.51001089]

>>51000958
Man, I don't know if I should trust you. Last time I trusted /biz/, I was told BTC would never drop below 30k. I literally asked that here and the anon said if it drops below 30k, he will throw his sink and everything in his house at it.

[Anonymous No.51001113]

>>51000471
I waited for confirmation unfortunately. Caught the knife at $22000. It hurts.

Need to learn to trust my charting

[Anonymous No.51001140]

>>51001089

dont u'll get rekd if u listen to biz

its gonna go up from here

check daily btc and see the past dip down was at exactly where support is now

it mathematicaly cannot go lower

i'm in a x100 long with 5usd

to the moon!

[Anonymous No.51001174]

I see no reason why the whales moving this won't just dump it right back down sub 20k if the shorts they opened are printing.

[Anonymous No.51001369]

>>51001089
Ok look at it this way. If you purchased every week for 100 weeks on the way down from the last peak (2017) how well would you be doing now? Every single purchase would be in profit right now, even the one at last cycle's peak. We are 60-70% down from ATHs so you're buying at a way lower price relative to buying at last cycles peaks and buying now would be like buying at 6k a coin 2018-2020 (before the last bullrun took off). BTC traded at an average price of around 8k (I'm eyeballing this off the chart) after it's last peak before it took off again some when in 2020. 8k is around 40% of the 2017 peak which means if we to extrapolate that out to this cycle we would expect to see around 27.5k as the average price BTC oscillates around between now and the next take off. Based on this logic you should assume that every time you have fiat on hand, if BTC is below 27.5k the market is undervalued. You can remove 10-20% off these numbers if you want to play it safe and adjust for worsening economic conditions etc. Right now the $ value of your portfolio is pretty irrelevant and will remain irrelevant until we get a mainia phase. It's about getting your hands on as many assets as possible before a turn around in economic conditions. You'll never time the bottom or predict bottoms or lows.

[Anonymous No.51001386]

>>51001174
Because there is another set of whales trying to get their money by liquidating them. It's a game of chicken between the rich. Bobo has had a good week after mumu having a good few weeks. Expect this whales playground to go on for a couple of years.

[Anonymous No.51001411]

>>51001386
Sure, but in a bear market it's 100x easier to dump the price

[Anonymous No.51001433]

>>51001386
So you don't think we'll break 20k?

[Anonymous No.51001446]

>>51001140
>it mathematically cannot go lower

[Anonymous No.51001460]

>>51001433
Bitcoin will never be below 20k again.

[Anonymous No.51001472]

>>51000471
21000 broken

[Anonymous No.51001479]

niggamumus got baited lmao. baggies

[Anonymous No.51001763]

>>51001433
I think anything sub 20k will be bought up pretty quick. I don't think we will be spending months below 20k nor do I think we will be spending months above 35k in this market (which I imagine we will see a rally up to the 40k mark at some point based on some bullshit). 27.5k is the line in the sand for buying during the next couple of years for me. When I have fiat on hand (so get paid) I will buy if BTC is below that number. I also expect the ranges BTC trades within will range up over time. Pic rel as a shitty graphical example of the point I'm trying to get across. Top price for the month, bottom price and eyeballed average price.

[Anonymous No.51001864]

>>51001763
I can absolutely see it dipping to 14k with all the madness going on but I also see more and more people realizing that the run to the halvening is about to start.
So I guess until then we'll see some crazy retarded dip followed by an equally retarded jump because people realize that it might not go any lower anymore until the happenig.

[Anonymous No.51002088]

>>51001864
I think you might need a black swan to hit 14k at this point. Some major European country like GB or GER defaulting on their debt obligations; which is unlikely seeing both control their respective money printers (Ger rules europe at this point so the ECB will bend the knee to their demands) and they both technically have world reserve currencies. Capitulation and readjustment of portfolio's already happened. If BTC was going lower than 17.5k it probably would of happened back in June. BTC would have never seen 3k again after it bottomed last time without a blackswan. The longer the time BTC spends above 20k the more fomo you will see sub 20k. Never say never though, this market is a fucking joke, complete clownworld and the west is a utter fucking mess. But if the trend of the past 3 months plays out over the next year or 2 expect the bottom range BTC sits at to go up over time, slowly. Bears really need to hammer down BTC to sub 19k range to make it a possibility in the near future and it looks like they are running out of steam at 20-21k. Also with the merge coming up it seems like a fools errand to battle against potential fomo, especially if 0.1 eth to btc is on the cards.

[Anonymous No.51002175]

>>51001763
Yeah, I don't know. These dumps right now feel strong. I'm just trying to decide when to reasonably close my short. I'm up pretty big atm, but I suck at taking profit.

[Anonymous No.51002204]

>>51002088
ETH will crash after the merge, and if the merge doesn't happen or get postponed last minute it will crash as well. Whales will use anything as catalyst to crash BTC/crypto market.

[Anonymous No.51002221]

if you think it isnt going to at least 10k you're a retarded permabull

[Anonymous No.51002387]

>>51001089
It will likely go below 17k. Wouldn't be surprised if we see it touch 10k

[Anonymous No.51002416]

>>51002088
Didn't Germany just report 5% ppi?

[Anonymous No.51003501]

Literally just buy spot and leverage short. It's literally that easy.

I've made so much more money shorting than I ever have longing.

Set the short, trust your TA, and take profits judiciously.