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LiveInTorontoPartyInMontreal

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Just my interpretation of the Fed meeting today: Retail market players liked the Fed minutes and covered their shorts and rallied the market. Bear ALGO's induced the rally and you can notice by the narrow green wicks FOMO'ing to high prices and within minutes or hours it comes back down lower than where the rally started. ETH actually went green for a few minutes and BTC fell just short. Look at where the market sits post Fed meeting. TA's and chart guys calling for a couple or more massive dumps to 40k and then the "smart money" comes in. $ 59,400 to $ 56,600 ( now ), do you think the market is being manipulated ? :oops: LOL !
 

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mitchell76

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Bitcoin down to 57410 (-3.35%), on the day. I've never understood technical analysis and charting. I admire investors who do!!

www.coindesk.com

Bitcoin

Bitcoin USD price, real-time (live) charts, news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more.
www.coindesk.com www.coindesk.com
 
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LiveInTorontoPartyInMontreal

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mitchell76 said:
Bitcoin down to 57410 (-3.35%), on the day. I've never understood technical analysis and charting. I admire investors who do!!

www.coindesk.com

Bitcoin

Bitcoin USD price, real-time (live) charts, news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more.
www.coindesk.com www.coindesk.com
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I'm medium/long term holding, but I like to try and follow T/A and charting just to follow what is happening and why? If I were to day trade and outsmart the ALGO AI's, I would get whipsawed almost every time and be on the wrong side of the market. UGH !
 
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sprite09

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perfectly normal ...can't stomach a 23 percent correction from recent top? crypto and stocks aren't for you
 
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sprite09

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fyi, BTC dominance looks like it's going down and during this BTC dump , alts, in general, have held up relatively well.

meaning ? money rotation from BTC to alts and likely a mini alt season during the summer (the main alt season is the last leg of the cycle and ETH needs to make a new ATH first for that to happen)
 
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LiveInTorontoPartyInMontreal

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sprite09 said:
perfectly normal ...can't stomach a 23 percent correction from recent top? crypto and stocks aren't for you
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For all TA's and chart guys, the Fib support at $ 56,500's significance is that it's - 23.5% from the current ATH ( $73,800) and no dump in 2023/2024 has gone past 23%. It's the bulls last line of defense before the 50 to 52k mark. Bear ALGO traders will try to dump it past this Fib mark during low volume times.
1714617662451.jpeg
 
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stinkynuts

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After more than full two months of pain, finally a recovery. If next month's CPI is soft, and the Fed decides to cut in July, absolutely guaranteed BTC will break new ATH and go onto 80k and above. This summer and fall should be the early peak. Will mostly sell all my BTC before Christmas. The last two cycles had big drops just before then in that stage of their cycles. May buy back in early Jan to capture the expected final run to the final peak, sometime early spring to fall. However, it's a huge risk to hold that late, as BTC can plunge dramatically in hours or days.
 
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LiveInTorontoPartyInMontreal

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I've read and watched so many TA's/chartists/theorists and concluded that this bull run will run to Feb 2025 to Sept 2025. Last cycle everyone calling for 100k and higher, but all the Fed talk and rates scares prior to the ATH truncated the run and from there on it was 78% retracement. I know typical cycle theory suggests retracements of 80 - 90% before we head back up. Look at Solana which gave back 95% all the way to $ 8.00 before the big boys saw value. This cycle many experts saying BTC will find a floor sooner before - 80% with all the new players and new global adoption. I can't see Blackrock/Fidelity /Ark let BTC bleed all the way down ? They can't show negative books for so many months in a row without people jumping ship. Hope the big players support the market and their funds. Back in the day on Bay Street we would always joke: I'm so confuuuuuuuuuused ! LOL !
 
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LiveInTorontoPartyInMontreal

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sprite09 said:
ignore the dates .the end of the cycle is shortly after when eth makes a new all time high ...period
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That's the BTC cyclical theory but BTC & ETH both topped out approximately November 10, 2021 ( 69k / 4,900 respectively ) . . .
I think the best way is just to watch the Bitcoin Dominance % chart . . . .
My new method this time around will be to watch the total aggregate of the the top 10 BTC ETF players. When you see weeks/weeks of outflows like
250 million per week, run for the door like George Costanza ! :ROFLMAO: That will be my tell . . .

Bitcoin ETF Flow – All Data – Farside Investors

farside.co.uk farside.co.uk
 
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LiveInTorontoPartyInMontreal

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The ETH ETF SEC approval date is this Thursday and insider crypto players saying now it's going to be 75% YES, vs 25% yesterday ! ETH up 17.5% and it's dragging
SOL, LTC and AVAX up too. . . .
 
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LiveInTorontoPartyInMontreal

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stinkynuts said:
It better not be another buy the rumour sell the news thing!
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Everyone was expecting Bitcoin to go parabolic that day, min 10k ( Jan 11th) , it hit its high point and at the flex the sharks came in and sold the hell out of BTC . .
Jan 23 area it was high 39's. If you're watching short time frame charts, it looks like a huge green candle, but with all the FOMO and small market orders the candle wicks up very very narrow and before you know it, BTC is crashing back down since there are no firm bids behind the rally.
 
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stinkynuts

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I actually think BTC is definitely hitting an ATH this week, and usually that means doubling within a short time. We shall see.
 
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