Cash out of Crypto now. We bout to hit some rough times

:nope:

I'm riding it down to zero lol

With these high gas fees, not many can.
Get out if can

Already bought by binance

Fear mongering schill

$18,744 and going south like geese on steriods

Not yet, he will ride it to Zero.

Some predicting 13k soon.

Moon Carl sounding sad eating his Pizza got liquidated massively

FTX down almost 44% in ONE hour!

Some are predicting going close to Zero. BlackSwan event

Reason? Maybe they know of that 4 hour from now event?

Domino effect?

https://twitter.com/_/status/1590051710638039040

[link to twitter.com (secure)]

You watching what is happening in the metals?

[link to 8marketcap.com (secure)]

Think of all the poor millennial turds who will have to get real jobs! Oh the humanity!

FTT in freefall.....wow

They said bitcoins would be 500K each by now. What happened?

https://imgur.com/3WCxfU4

What I'm about to say is highly speculative so take with massive grain of salt. While some people put a lot of faith in technicals, others like Buffet regard them as nothing more than trying to read tea leaves.

BTC has been forming a descending triangle pattern, which is considered a bearish pattern in technical analysis. TA stipulates that the statistically probable outcome is that it will break out of the pattern to the downside and fall until it finds a major volume support level where buyers can't resist.

There is some intuitive logic behind the interpretation of this pattern. Essentially what forms the pattern is when the price falls rapidly but then gets stuck on a tenacious support level, which is just a way of saying that there are lots of people willing to buy it at that price, for myriad reasons, from psychological to TA to bots. A mass gaggle of dip buyers in other words.

So every time it moves down near that price, you have lots of buyers come in a bid it back up. And that forms the base of the triangle.

However, the dip buyers bidding it back up fails to bring new money into the game, and the supply of dip buyers gets exhausted as the pattern plays out, which forms the hypotenuse of the triangle. The consecutively lower highs signify that the supply of buyers is getting depleted, suggesting that it will break through its support.

Of course there are fundamental reasons why that might not happen. For example, rumor has it that Twitter is going to launch a BTC based payment system on their platform, rumored to use the lightning network, which would potentially bring a lot of volume. Not saying that that's going to happen, mind you, and honestly even if that's their plan it would probably come far too late. According to the pattern, we would be looking at it breaking through its support sometime between now and Christmas. Of course just the news of something like that can send prices soaring, so it's very possible that an Elon tweet is currently what's standing between BTC falling to 12k or soaring back up to 60k. Again, not saying that's even in the cards, just giving it as an example of the kind of thing that can break technical patterns. And by the same token there's an argument that the Twitter thing is already priced in at this point, meaning new news wouldn't have any positive effect. That could even be likely seeing as how markets are really good at counting chickens before they hatch.

TLDR: If you're looking for a potential dip buying opportunity, watch for BTC to fall to about 12k in the next month or so.

Last Edited by okie1 on 11/08/2022 02:25 PM

Get out of SOLANA too

buy the dip~!
Hodl..
Bitcoin to the moon!!!

Yeah OP' cash out during a crash. Best advice ever.

Now go back under the rock you came from.

As the boomers raise rates to make sure there are less jobs available to get. Which generation/age do you think has the best answer? You?

Unreal: [link to coinstats.app (secure)]

I'm hodling & buying more @ $15K

Does anyone look at the normal US options market? 100% losses and 1000% rises happen daily. In fact an options bet, if it doesn’t hit the strike price becomes completely worthless. That’s not an investment that’s a gamble. And all this attention on Crypto when pirates are making daily killings on options right under your nose. Crypto is a 24/7 currency/options/stock market Frankenstein that should be the wet dream of all option players.