Bitcoin price suddenly surges to 3-year high

[R-T-B]

Wow, I forgot that name.

They still send me expressmail notices from time to time in Japanese that I could attend the hearings or something. It's amazing. I had like 10 cents there. A single letter they sent me is probably more expensive than my net worth.

 

[trog100]

what a difference a day makes.. bitcoin now at 45K and eth near 3200..

trog

 

[Outback Bronze]

what a difference a day makes

Yep crazy market. Up 50% in 24hrs with swings of 12k down and 14k up over 27hrs. Mental.

 

[Hemmingstamp]

They still send me expressmail notices from time to time in Japanese that I could attend the hearings or something. It's amazing. I had like 10 cents there. A single letter they sent me is probably more expensive than my net worth.

Tell them you'll attend as long as they pay for the flight.

 

[KainXS]

Yep crazy market. Up 50% in 24hrs with swings of 12k down and 14k up over 27hrs. Mental.

Yup Crazy Swings

 

[ZenZimZaliben]

Crazy swings in crypto? Say it aint so.

Some humor.

 

[moproblems99]

But the USD is.

"Exchange"

If they can post to your bank account, these details are needed.

Why doesn't anyone understand that your dollars are taxed, not your crypto? It isn't difficult. Especially for all our experts here.

Give it time. Like I said, before midnight it will be under 30k. These things take time, those whales are panicking still, buying up all the quick sellers to artificially inflate it back up. Then they will topple over themselves when they see the buyers are much less this next round LOL

How did your prophecy turn out Nostradamus?

Make sure you are buying several variety worth of vegetable seeds, and keeping them in freezer for a rainy day. Currencies and commodities are cool and all, but the supply chain is very very fragile and not prepared to adapt to climate change fast enough. We need planes, that can move farmers from one location to another overnight with all their equipment to boot. It's going to become a very interesting world... of timing the right fertile lands right...

Trust me, we ain't growing vegetables in the glow of rainbows if the supply chain fails.

 

[phill]

no prob. Just had a look and that was the correct name. It should not ask for anything but wallet address, mind.

Damn didn't it need my credit card details??? (/sarcasm lol)

All is good with it mate, thank you Gives a bit more detail than last time I believe....

 

[trog100]

well bitcoin is taking another dive.. its now at 36K.. with eth at 2400..

trog

 

[sepheronx]

well bitcoin is taking another dive.. its now at 36K..

trog

Yes it has, and once again my profits are up.

If it gets any lower, then I am forced to buy crypto lol

 

[Zach_01]

On the daily chart is oversold but on the weekly still has room to fall...

 

[Mescalamba]

Yes it has, and once again my profits are up.

If it gets any lower, then I am forced to buy crypto lol

Someone is shorting, eh?

 

[trog100]

Yes it has, and once again my profits are up.

If it gets any lower, then I am forced to buy crypto lol

yep mining profits going up but i keep getting the feeling i am mining into a bucket with a hole in the bottom.. he he..

i will keep plodding on though

trog

 

[RandallFlagg]

On the daily chart is oversold but on the weekly still has room to fall...

There really needs to be a divergence on oversold readings to signal a low, that would mean price hits the low again and RSI/MFI is higher and price +RSI+MFI bounce up. This would signal a low on the time range selected.

I don't see a divergence on daily RSI but there is one on Money Flow Index. RSI only looks at price while MFI looks at price + volume.

This is an example of oversold + divergence on RSI and MFI on 5 minute scale. I would expect daily to look similar with at least 2 points diverging.

So with this you can see a bottom form, but you can't know how big the bounce will be without examining other trend levels.

That purple line at the top is the bottom of BTCs old daily trend channel :

So this IMO is getting close to a daily divergence but needs a new low for that divergence or at minimum a 're-test' of the recent low. You can see the momentum bleeding off and then turning negative as shown by RSI/MFI on daily below.

Same thing needs to happen on weekly to signal a reversal of the bigger trend.

So that could be the first weekly bottom, followed by a big rally, followed by a new low on less negative momentum, followed by a solid low.

The fact that this broke out of a downward slope trend channel - and broke the lower trend bar not the higher - is very bearish. BTC is struggling to get back into that old trend channel now.

 

[Zach_01]

There really needs to be a divergence on oversold readings to signal a low, that would mean price hits the low again and RSI/MFI is higher and price +RSI+MFI bounce up. This would signal a low on the time range selected.

I don't see a divergence on daily RSI but there is one on Money Flow Index. RSI only looks at price while MFI looks at price + volume.

This is an example of oversold + divergence on RSI and MFI on 5 minute scale. I would expect daily to look similar with at least 2 points diverging.

So with this you can see a bottom form, but you can't know how big the bounce will be without examining other trend levels.

That purple line at the top is the bottom of BTCs old daily trend channel :

View attachment 201173

So this IMO is getting close to a daily divergence but needs a new low for that divergence or at minimum a 're-test' of the recent low. You can see the momentum bleeding off and then turning negative as shown by RSI/MFI on daily below.

Same thing needs to happen on weekly to signal a reversal of the bigger trend.

So that could be the first weekly bottom, followed by a big rally, followed by a new low on less negative momentum, followed by a solid low.

The fact that this broke out of a downward slope trend channel - and broke the lower trend bar not the higher - is very bearish. BTC is struggling to get back into that old trend channel now.

View attachment 201174

My point was that, give or take. BTC has been taken over by bears (for the moment). Unless something drastically changes it will keep getting lower lows every bounce up cycle.

Thanks very much for the detailed analysis!!

 

[sepheronx]

Someone is shorting, eh?

Yeah, but I was mostly doing with altcoins. I got the Crypto.com visa debit and plan to get the more advance cards so I earn more CRO.

Plus ADA is down and I want to jump more into it. Which sucks cause I'm waiting for them to find what happened to $50 of mine that was transfered but never recieved.

 

[Vya Domus]

While in general I can’t stand very much the crypto crowd (even though technically I’m part of it) I also can’t help but notice that there has been some heavy misinformation being spread around in the last few days. Seems like every morning there‘s a new “China crypto ban” or ”crackdown“, another word of choice news outlets love to use, which turns out to be not quite that. Markets move accordingly, of course.

 

[Chomiq]

Is it really about China?

Crypto payments above $10,000 would be reported to IRS under Treasury plan

Fear of crypto being used for tax evasion drives Biden admin’s reporting plan.

arstechnica.com

This is on top of the stuff with Binance.

 

[moproblems99]

While in general I can’t stand very much the crypto crowd (even though technically I’m part of it)

So, not to bring cars in, but I feel the crypto world is similar. Being a former mechanic, I can't stand going to certain performance stores because the people spout total bullshit.

However, what I found, is that when you know them personally, they stop spouting bullshit because you know each other.

I can tell you with total honesty I never show my hand with people I don't know.

 

[dragontamer5788]

This is on top of the stuff with Binance.

A lot of Binance things seem to be occurring. Anything in particular you're talking about? The unreliable webpage, I think I see some Tether getting tied in, and Caymen Islands, etc. etc. You'll have to be more specific: a lot of these ills are common to a lot of Cryptocoin stuff in general, lol. So I'm curious what specifically seems to be changing in this past week or so...

 

[moproblems99]

That said, I do my best to spout information that is fairly close to what I believe without lying. Unless I have an agenda.

 

[trog100]

FUD.. fear uncertainty and doubt.. very little is publicly said without some kind of agenda behind it..

trog

 

[moproblems99]

I still don't think this is your average whale dick waving. There is a bigger thing going on.

It isn't the whales just pulling out either because this wasn't going to just stop until it was made to stop.

 

[ShiBDiB]

A lot of Binance things seem to be occurring. Anything in particular you're talking about? The unreliable webpage, I think I see some Tether getting tied in, and Caymen Islands, etc. etc. You'll have to be more specific: a lot of these ills are common to a lot of Cryptocoin stuff in general, lol. So I'm curious what specifically seems to be changing in this past week or so...

I'd guess the DOJ digging into them. They'll probably get put on the shitlist soon by them if I had to guess.

 

[Devon68]

Just read that in China if you know someone who is mining you can narc on them to the authorities. Wonder how that will pan out. I know many people are not fond of miners but he is still your neighbor. Unless he is the type that borrows stuff and forgets to return it. Then he deserve it.