Today marks the start of Bitcoin crashing to the 9,000 dollar level

20,000 has broken support and the crutch of 18,000 will not hold

Pin thread please this is important info

I agree.

Probably won't be this week though.

Thank you!

Post a chart and explain your TA.

I trade for a living and such a price action move is speculative, without a proper case made with a chart.

Will post mine here later today.

My charts are not working at the moment I have some kind of malfunction happening but suffice to say that the whimsical machine elves have granted me temporary access to the time portal so often used by John Titor and the like to glean the window of crystal imagery to reveal price levels that others cannot see unless they can see through the door

Sounds good. Will look for support around 9k and note in chart I post. On phone right now, when get to work trading today will share a chart.

Thank you very much cosmicray

Looks like the TPTB are also pounding down silver and gold......buy, buy,buy!

Look at today's Futures charts. Almost ALL deep red except the US Dollar Index. THAT is going bonkers. Not good folks.

Sorry, here's link.

[link to finviz.com (secure)]

Go home cheese, you're drunk.

Side note, I wish you were right, but today simply isn't the day. Wrong again buddy

I am sorry OP did not any money from bitcoin. Lol

Look at these degenerate gamblers speculating on Beanie baby coins

a fall to 9k could easily doom Bitcoin.

there's approximately 1 million miners.

1.9 million coins left.

that's not even 2 coins per miner, so the average
expectation right now is $36K max income remaining.

Each bitcoin transaction uses $175 worth of power,
there's currently around 300,000 transactions per day.

average miner is spending $50/day or $18K per year.

if 10% of miners drop out, the remaining cost per miner
goes up 10%.

now rework those numbers at $9K.

zero profit for anyone.

that $175 per transaction is mostly the cost to broadcast
all transactions to all users. it increases exponentially
as users increase.

Bitcoin is actually closer to being dead than most people
realize. It's only gonna take a small increase in users,
drop-out of a few miners and a little more drop in price.


.

JPM and Deutsche Bank are desperately trying to keep the channel up to unload their underwater toxic coins at the best bid over the bullish suckers out there, Deutsche Bank has been lately touting a $28K target price by year's end.


[link to www.bloomberg.com (secure)]

If it drops below 15k I wouldn't be surprised to see 3000 again soon. The 3 day rsi does look like shit right now

BTC runs through the boom/bust cycles. We are in a bust cycle. There is also a CME gap somewhere between $8K-$9K. Also, looking at a volume node around $6.8K.

I will start to nibble back at a long position when she drops below $12K. A slow, easy re-entry. BTC is know for delivering surprises.

Picking perfect tops and bottoms is a fool's errand, as I am certain you know.

Thanks for passing down the info from your financial advisor.

BTC is a junk waste of energy.

invest in BSV now.

[link to coincarboncap.com (secure)]

It is the true Satoshi Vision

Bitcoin is already dead. I hadn't factored in the time
to mine the remaining 1.9 million coins. Because it's
an exponential function, various estimates are around
100 years.

So... assuming no additional users to increase transaction
costs, the average miner will spend

$18K / year x 100 years = $1.8 million

to mine their average 1.9 coins @ $19K each.



Wily Coyote has run off the cliff but not noticed it yet.

Just HODL till it goes to zero and you win the grand prize.

.

Last Edited by Waffles ™ on 07/05/2022 11:47 AM

Uncle Intel says bottom is at about $13k.

If bitcoin gets below $10,000 I’ll be buying more.

That's not the bottom, that's the common target of the majority of coiners out there, there should be a strong bouncing momentum down that limit, then after that bottom picker rally, the price will keep rolling downhill to new presupposed bottom price limits, or just crash like did the Luna coin.

Make no mistake, the Bitcoin bubble has blown up, there will be no more insane hyper valuations in the future.

once miners actuallly figure out their true costs,
bitcoin is toast.

many of them are conditioned liked pavlov dogs,
so they'll keep sinking cash into lower and lower
returns until they finally figure out they're
always gonna lose money now.

It's dead, Jim.

DOA.

Just like how real mines fail. There's still ore in
all of them but you can't make a profit on it.


/

there probably will be a brief buy period. I'm pretty
sure they'll try to restart Bitcoin cycle by increasing
the amount of coins. True believers will be in shock
because they actually believe it's a real limit, not
a few lines of computer code which takes five minutes
to change.

Changing the 21 million to 100 million would drastically
increase the yield enough for many miners to continue,
but it would also shake confidence in the "immutable"
number of coins.

So I expect a temporary bounce when the increase is
announced.

The BRICS nations are making moves, moves that are much quicker and more successful than anyone in the so-called "rules based international order" anticipated or even believed could happen.

I don't know anything about the technical analysis side but I do know that the BRICS nations firming up into a real alliance like it has wasn't part of "the script".

On this note, some of you may have been aware of the Chicom shadow embargo on the USA but now I'm seeing some pretty strong indications that India has joined the shadow blockade starting with medications first.

For those of you who don't know, probably a major percentage of any generic meds prescription or not you take come out of India or have ingredients come out of India.

Basic shit like antibiotics lidocaine and pain medication are all suddenly all but unavailable here stateside.

This complicates things even more than the WEF and UN shit already making our lives miserable because one thing they definitely did not plan for was BRICS forming up like Voltron and taking the field to oppose them just as the western first world had deliberately weakened itself to a point where fighting back is no longer a real option.

If you were on the fence about people doing something other than hunkering down and trying to survive the WEF assault on everything good and worthwhile left in the world...

It's time to reevaluate and reposition because this changes things drastically!

You should also note that the people who run BRICS are not friendly nice or good people.

They are not the cavalry coming to save us.

They are the marauders coming to raid us after we have been disarmed and dispossessed by our own leadership!

If we don't do something to get out from under the people deliberately weakening us and our nation we are in real trouble here.