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  1. #841
    Immortal hellhamster's Avatar
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    Once all the longs are collected by the bears hunting for liquidations, and massive shorts open, the price will be propelled the other way once there is a few billion to be made by liquidating shorts after longs got blown the fuck out. The cycle will continue.

    On behalf of market movers: thanks for playing. The funny thing is that no one who got rekt is ever gonna learn not to fuck with leverage. Leveling the playing field like today is a good thing overall for the long term by clearing overleveraged positions

    - - - Updated - - -

    Quote Originally Posted by ranzino View Post
    46.8k expected dip ?
    No, consolidation after a dump almost always leads to a bigger dump.

    - - - Updated - - -

    Quote Originally Posted by Grimbold21 View Post
    Some folks suggested this is tied with the El Salvador matter.

    I mean, who knows really
    That seems to be the most likely scenario, a coordinated whale dump to offset the big El Salvador news. Longs have likely opened up the wazoo, but it was time to collect.

  2. #842
    Titan Grimbold21's Avatar
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    Market dips suddenly

    Solana: No worries, I got you, fam

  3. #843
    Pandaren Monk Mhyroth's Avatar
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    Quote Originally Posted by Grimbold21 View Post
    Market dips suddenly

    Solana: No worries, I got you, fam
    Probs to do woth El Salvador or something accepting as a currency.
    "If you are what you HAVE and you lose what you have, what then are you? But if you are what you ARE and you lose what you have, no man controls your destiny".

  4. #844
    Immortal hellhamster's Avatar
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    I'm thinking considering certain alts bouncing that this was just a long liq hunt, not a crash, it might even be over. Let's see how the day closes 6 hours from now. If that's the case, this is omegabullish.

    And of course, for the lulz, go look at the moon phase bitcoin chart, this shit is actually hilarious. I'm starting to believe in this nonsense.

    What we learned in 2021:

    1. The pi cycle top indicator is the absolute best indicator to predict local tops and should be used as a point to sell.

    2. The moon phase is the most correct chart out of any technical indicator out there.

    3. Wyckoff was a genius.

    4. Always buy the rumour but sell the news.
    Last edited by hellhamster; 2021-09-07 at 07:04 PM.

  5. #845
    the dip was big guys burning margin traders note how it went straight back up again. There is no need to consult graphs or jackoff models the answer is always 'shenanigans'.

  6. #846
    Immortal hellhamster's Avatar
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    Quote Originally Posted by jonnysensible View Post
    the dip was big guys burning margin traders note how it went straight back up again. There is no need to consult graphs or jackoff models the answer is always 'shenanigans'.
    But muh moon chart.



    In any case, if Bitcoin stays here and above 46k, this is good news for the long run. The longer the consolidation, the better the long term outcome. Staying above the 20 week moving average is very good.
    Last edited by hellhamster; 2021-09-07 at 05:10 PM.

  7. #847
    https://whale-alert.io/transaction/t...cf966ace5e5eec

    lool is this for real. tether printer go brrrrrrrrrrrrrrrrrrrrrrrr

  8. #848
    Quote Originally Posted by jonnysensible View Post
    https://whale-alert.io/transaction/t...cf966ace5e5eec

    lool is this for real. tether printer go brrrrrrrrrrrrrrrrrrrrrrrr
    Wait...is this the second time they've done this? https://beincrypto.com/tether-issues...-tron-network/

    Or is that this earlier Billion finally going through?

  9. #849
    Quote Originally Posted by Edge- View Post
    Wait...is this the second time they've done this? https://beincrypto.com/tether-issues...-tron-network/

    Or is that this earlier Billion finally going through?
    whatever it was there is obviously nothing suspect about investors sending a cool billion to a company under investigation for bank fraud instead of just buying bitcoin directly

  10. #850
    Banned Strawberry's Avatar
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    Quote Originally Posted by hellhamster View Post
    You're right, but he's still correct about the entire market being overleveraged up the ass and market movers controlling everything. It's good if you like the volatility, but it's not for anyone with a weak heart.
    Yes, this is why I quit in 2018 and now I'm just casually mining and holding. The dips don't bother me as much.
    Crypto has always been like that. I'm not sure if it ever will stop being volatile. Big whales are dirty rich if they sell their coins them and dozens of generations below them (and probably way more down that line) would live a rich life.
    But no, it's just a playground for the rich.

    I heard about Bitcoin back in mid/late 2010 when it was worth literally nothing, but didn't put much though about it because all I wanted was to play video games.
    Then in 2016 I almost put around $5000 into it when it was around $400, but then a girl happened and I decided to put those savings into travelling together. Lol talk about missing the train TWICE.
    And then in late 2017 I had about 2 BTC and a ton of altcoins, everything was worth around $35.000, then the crash came. And I was like, fuck this shit man, I'm going to live my life.
    Right now I'm going to mine a few more years on Nicehash until I get to 0.1 BTC, which should take some 2.5 years since I currently after 8 months have 0.02. After that I'll just leave it until I retire in 30 years :-)
    Pretty sure in 30 years the world will be a lot more fucked up than today and that's when crypto will be a way (or one of the ways) for people to use as a global currency.
    Last edited by Strawberry; 2021-09-08 at 01:02 PM.

  11. #851
    https://www.vox.com/recode/22663312/...rrency-bitcoin

    And regulations ahoy. Should be interested to see what happens when some lawmen come to the wild wild west.

  12. #852
    Immortal hellhamster's Avatar
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    Quote Originally Posted by Edge- View Post
    https://www.vox.com/recode/22663312/...rrency-bitcoin

    And regulations ahoy. Should be interested to see what happens when some lawmen come to the wild wild west.
    The SEC is doing fishy things with staking protocols of exchanges, they are afraid people will park their money in exchanges instead of banks once they realise there's a ton of money to be made just by compounding interest because a: the given interest is high due to the nature of the coin and b: the cost of running an exchange is only equal to server capacity.

    Hopefully they can actually do something about the exchanges hunting liquidations, that's priority one. Trying to regulate shitcoins can be a second priority, but not something that's feasible to be honest. Even if they ban one exchange or the other, decentralized exchanges are already up and running to take their place, and good luck banning those.

    - - - Updated - - -

    I am anticipating insane volatility in the coming days, bitcoin will either completely shit the bed, taking the entire market with it and causing a real, 2 year long bear market, or an insane pump to like 55k or more, no middle ground. Might even happen tonight.

    This view is taken from the bitcoin dominance chart, it is quickly approaching May crash levels.

    The direction will be dictated by the opposite of the growing market sentiment. If people are bullish, it will crash, and vice versa.

    Personally leaning towards a crash, but can never be sure. Also interesting to see what the dollar index is doing.

    If a dump does happen, it's not over just yet. If the weekly close this Sunday is above 43.3k, everything is still fine, if it is not, then it's really over, and you can expect something similar to May, except it won't be a reaccumulation most likely this time, but an actual bear market.
    Last edited by hellhamster; 2021-09-10 at 03:03 PM.

  13. #853
    whats going on at ftx looool

  14. #854
    Immortal hellhamster's Avatar
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    If Bitcoin closes the weekly at 49k+, which is looking very possible and is a crucial level to overcome, then this September 7th drop was officially a bear trap and it's safe to assume it will rally back to 52-53k afterwards. Positions will be closed this weekend, so all the shorts from last month will have to reposition, which is also an implication of a move up. If it doesn't close well and even drops below the 47k and 45k marks, it will still very likely bounce at the 21 week EMA, which is around 43.5k. I will personally be DCA buying more at that level, since that will be the absolute bottom. This is supported by the fact that the big September 7 dump was a one parter, i was actually expecting another big dump which is usually the norm in these huge liquidation hunts where the price drops by 25% in a day, but it got absorbed and bounced at that key level. If the price dumps and bounces at critical levels, that is very bullish, but if the price dumps, then dumps again immediately the next day, then that is game over. Fortunately the first scenario took place.

    Bitcoin is moving at the exact same manner as last year's beginning of its October rally. It's looking very good, but it has to show strength on hitting key levels and keep making higher lows to confirm that.

    The thing to worry about then is the leverage ratio combined with the shorts/longs distribution. If the leverage ratio touches 0.18%, then a liquidation hunt will be triggered, hitting the most overlevereged side. Right now it's looking roughly equal, but that will cause a 20-30% move to either direction, but it's likely to the downside. Clearing overlevereged positions is healthy for the long run, and as long as bitcoin closes above the 21 week EMA, there is 0 reason to be long term bearish.
    Last edited by hellhamster; 2021-09-18 at 11:16 AM.

  15. #855
    Titan Grimbold21's Avatar
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    And here we go...

  16. #856
    Immortal hellhamster's Avatar
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    43.5k was my overall price for the bottom from my previous post. So far that holds, but the Chinese stock market opens in 8 hours, and that doesn't look good for any speculative asset let alone volatile ones like crypto. A looming $300 billion default for the biggest real estate company in China is enough to cause big global market unrest and capitulation. Tomorrow will be the catalyst for the next months.

    I personally feel this has been a well known issue for a long time and that it's already priced in, today was mostly out of the loop panic sellers judging from the price action compared to the September 7 coordinated mega dump that went hand in hand with the news in El Salvador. I experienced that particular drop live on my phone, which was pretty much billions sold in minutes. Red candles as big as mountains. Today was much slower and steadier.

    There's one other scenario I feel is becoming all the more probable, and that is that we are going through a carbon copy fractal of the October-May run up, which will lead to a crash to 35k as the bottom right about this week or the next and a small bear cycle /wyckoff accumulation zone of 2-3 months. This will likely be invalidated if we close the weekly above the 21 week EMA, which is close to 44k right now. This obviously spells higher price action and a longer bull run in the future, probably taking the entirety of 2022. Tomorrow will be a big day.
    Last edited by hellhamster; 2021-09-20 at 06:06 PM.

  17. #857
    Quote Originally Posted by hellhamster View Post
    A looming $300 billion default for the biggest real estate company in China is enough to cause big global market unrest and capitulation.
    lotta people speculated that tethers worthless commercial paper is in chinese real estate lol.

    Everything in crypto has to do with tether. How long before the printer gets turned on? How long before the exchanges go into 'unexpected maintenance mode'?

  18. #858
    Immortal hellhamster's Avatar
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    Quote Originally Posted by jonnysensible View Post
    lotta people speculated that tethers worthless commercial paper is in chinese real estate lol.

    Everything in crypto has to do with tether. How long before the printer gets turned on? How long before the exchanges go into 'unexpected maintenance mode'?
    You've said the same thing 25 times now, yes tether is garbage, we get it.

  19. #859
    Quote Originally Posted by hellhamster View Post
    You've said the same thing 25 times now, yes tether is garbage, we get it.
    its because you write all this nonsense out and all that matters is : https://twitter.com/whale_alert/stat...04706470481923

  20. #860
    Titan Grimbold21's Avatar
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    Wednesday, time to see if the news coming out of the US do anything

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