I believe the bottom is in

bitcoin

#21

Yesterday I saw this bear come charging out of this hole in the ground… He made a run at me, and said in this booming voice!! " Im going to … you up!". This naturally scared the crap outa me…

Seriously, I am sure everyone in the pub knows my view. If you think the bottom is in great.

Crash .


#22

The bottom was in at $5750 or do we have short term memory issues?


#23

I am 50/50 on my belief of the bottom being in. Price hasn’t made new lows or new highs. I’ve positioned myself for both possibilities. The bottom doesn’t have to be the same as 2015. Just like the bull run prior to 2014 bear wasn’t the same as 2015-2017 bull run.


#24

what about volume and volatility ? it is DEAD atm in BTC standards … that;d be another good indicator of price has reached the bottom or close to it, instead of spamming the thread with FIBs :joy:


#25

Volume > All other indicators


#26

The bottom is in? Time to strap in to the moon rocket!! Go for it baby!!

Crash


#27

I was refering that high volume and volatility = bottom in. :man_shrugging:t2:


#28

MancunianSoul

Capitulation already happened at $3150.

Since then the price of BTC has been going up and has not returned to or below $3150.

There is good support now being offered at $3475-$3500. When BTC dipped below $3475 a few days ago it flew back out like a bat out of hell. I have not seen that kind of rebound in a long time. Most thought that if $3475 was breached then a further drop towards the low of $3150 would be likely. Wrong. The contrary happened!

As BTC slowly continues its northward trajectory it will begin to dawn on more people that the bottom already came in. Many will wait until the price of BTC goes above $7k before they believe. That’s fine.

The bottom wont come with an announcement. It will just occur and from that point the price of BTC will slowly move back up into more comfortable zones. I believe the bottom arrived at $3150 and the bear market is over now. I have voted with my wallet and bought some more BTC in the last 48 hours.

I expect BTC to sit on top of the 200 day MA on the one day chart between Feb and April this year. At this point the proof that the bear market is over will be evident.

What we are seeing now in the market in terms of ‘Bart’ price action is simply the day traders playing against each other via their bots. They will get bored soon with fighting each other and give up.

By the way. Take a look at the shorts that opened late last night EU time and see how the number of positions opened increased by over 1000. They expected to see a massive drop in BTC price following the ETF withdrawal news. Never happened!


#29

Best I’ve seen yet (doesn’t necessarily make it right).


#30

SwimmerScout

Thanks for the charts. History does indeed rhyme.


#31

We haven’t had capitulation yet. It’s either really rough or can drag for years.

Its and emotional feeling in the market. It’s a point where hodlers are forced to sell. It’s a point where all hope is lost.

We haven’t seen that yet


#32

I should add. Just don’t sell if you are a hodler.

Worst thing you can do is sell the bottom

I am here for the long haul just like the rest of everyone


#33

Sound advice buddy. :ok_hand:


#34

There were only TWO people on the Pub the other day when I logged on. One was me. lol

Every single person I know already sold and left the market. I’m the last man standing. The only reason you think there are still a lot of HODLers left, is because you frequent crypto enthusiast sites like here and Reddit, where only the true die hards remain. Everyone else, which accounts for >95% of people, have already sold. You just don’t notice because they aren’t around anymore to tell you.

Granted I don’t think we’ve seen the bottom either, but this idea of “it’s not over till everyone has sold” basically went out the window when we dropped under $6k.


#35

That’s true, but its designed to get people who are die hard as man. That’s why it happens over a long time or is over in an hour


#36

Wouldn’t it just be bots and whales trading if it was over in an hour though? I can’t see Johnny logging into Binance and seeing a 40% drop in an hour and then selling, wouldn’t that be too fast for everyone?
I’m more inclined to a long slow drop as more and more leave over the next 12 months…


#37

Yeah it would make more sense to happen that way, force people to get fed up and leave the space, who knows man


#38

It is possible that it is dragged out for a very long time. Crypto seems to have some of the most stubborn holders of any market. I wouldn’t rule out a mini bull run ( extended bull trap that fails to make new highs) happening to rob the moon crew of all their money a second time around, before finally capitulating further down the road (years later).


#39

You do realize that Capitulation comes before the Anger and Depression stages…?


#40

Yep. Guess that means we are in denial :thinking: