I believe the bottom is in

bitcoin

#1

I believe the bottom has been established.

The £3150 was ‘it’ in my opinion.

I suspected the bottom had been found after seeing how quickly BTC bounced up after hitting £3150 recently and suspected this again yesterday when BTC had a flash crash below the £3475 support, only to bounce back like a tightly stretched elastic band! That was some impressive recovery!

Then tonight, when the news about the withdrawal of the ETF application broke…minimal reaction in the market. BTC lost about $45 and then quickly recovered. BTC is now trading about $20 off its earlier price this evening before the news broke.

Tonights ‘negative’ news about the ETF resulting in virtually no response from the market strongly indicates that all the weak hands have now left the market.

Previously, this ETF withdrawal would have resulted in a substantial flash crash (with no recovery). This time virtually no response from the market. How reassuring is that?

Those of us still here and still standing already know that an ETF isn’t / wasn’t ever really needed for cryptos’ survival. Indeed, many would argue that allowing Wall Street in would have caused more damage to the space.

I am a nobody who knows nothing really. I am just someone who watches the markets everyday and is expressing an opinion here. I could of course be wrong. But I really feel, based on what I see in the market, i.e., the performance of BTC in terms of holding its price in the face of bad news (that previously would have resulted in a nose dive), in terms of less price volatility in BTC, in terms of the obvious departure of weak hands, in terms of how ferociously BTC now bounces back from dips (a clear sign that there are many bulls on the sidelines) and in terms of all the positive advancements taking place within the space, I sense we have turned the corner.

I am looking to see BTC’s price hover around the $3500-$3550 price range for a while, maybe a week or so, with some volatility in that price range, before heading slowly up north again. I expect some sudden dips along the way (to be expected) but expect a quick recovery from those dips.

Anyone else feel the bottom is in?


#BTC correction record
#2

uhh… welcome to the forum.


#3

‘Welcome to the forum’?

I have been a member for a long time.


#4

We know. I appreciate your thoughts on this. I never had real feelings about the bottom.

All I see are higher lows and higher highs…

To me… that’s a long term strategy.

[Moved to bitcoin category]


#5

dont recall seeing you posting, that is all :rofl:

btw I dont think BTC is at the bottom.


#6

Reason for your belief?


#7

The bottom is not in because my bags did not fill yet.


#8

So, what you are saying is if the bottom is in your ‘bags will be filled’?

How does that work then?


#9

Peter. You can have higher highs and higher lows in a bear market. Doesn’t mean anything if they are in an ascending triangle which is located in a descending long term trend.


#10

It’s a joke dude. You must be as autistic as the real Vitalik.


#11

I like your explanation mate, just watch out for the fucking bull police :policeman:t2:‍♂


#12

the bull police are real


#13

CraigMak. Sorry ‘Dude’ but your joke just wasn’t funny.

So, you are into name calling CraigMak? There is always one of you in every forum.

Don’t take that personally. Its just an observation.


#14

Calling 911. :police_car: :rotating_light::warning:

@Crash101, @MaxP, @Manuel_Villarreal


#15

Yep, autism confirmed. :rofl:


#16

Who called the fuckin fuzz :policeman:t2:‍♂ :policeman:t2:‍♂ :policeman:t2:‍♂


#17

Well that’s this thread fucked, we gonna have all sorts of fibs and shit showing us how stupid you are. RIP happy thoughts :skull:

Just wait till chief cunt-stubble @leetorres claps his fuddy little eyes on this shit…


#18

I was going to give it a few days to see if people reacted to the ETF news. If slight reaction then it could be that we have hit bottom. I hodl so it doesn’t matter to me but I do like Black Friday prices so enjoy buying BTC these days lolol

Thanks for the post!


#19

Nice to see you back @HopingToMakeProfit hadn’t seen you posting for a while and thought we’d lost another one.

Always good to hear alternative views which are just as valid as Mr Happy Pants screaming for a decades long bear market.

One thing that doesn’t sit well with me is that the vast majority are waiting for capitulation. The masses are usually wrong.


#20

@Clarky663 no need for fibs. I have spoken to bear Jesus. He has told me the bottom isn’t in yet and we should strap in for a bumpy ride.

:raised_hands:t2::raised_hands:t2::raised_hands:t2: