It's irresponsible to call for a BTC disaster each time it drops 5-10 pct. This is like the 20th chart in the last 3 weeks that's pure FUD and nothing else.
MysteriousPersian
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@garyuws, this is a longterm graph, its irresponsible of you not to recognise that btc is currently in a bear market. Disaster is obviously a strong term but it still looks pretty bearish
madetrades77
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@TristanKhanizadeh, You (and several others) miss the crash. You had it on the 22nd hour of today around 11,000, it's at 14,000 right now. After every 5-10 pct dip, I see at least 5 charts flash that it's going to 8k. Go ahead and research the other past charts.
It's going to sideways break high and then maybe a crash, but not today.
MysteriousPersian
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@garyuws, Oh yeah defenetly going sideways for sure.
madetrades77
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@TristanKhanizadeh, Context bro. On Jan 12th I side it's going sideways, break high and crash. It didn't bounce to 15-16k before it fell like I thought it would, but I've been bearish for a month now. Yearly cycles (esp Christmas and Chinese New Year).
madetrades77
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@TristanKhanizadeh, My overriding point is I saw so many people call for 8k going back to Dec. 19th. But it turned out the timing was right, so credit where credit is due.
madetrades77
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@TristanKhanizadeh, If all the charts from December 20th-about now were accurate (after small dips) we'd be at 8k.
MysteriousPersian
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@garyuws, Im still thinking long term. I obviously dont think well be back at 6-8k so soon. I believe that it will take several months maybe even a year. Also my trendline showing a massive crash is simply a doomsday scenario that shows what it COULD look like if the trend followed something similar to the dotcom bubble: Its simply an idea.
I think its also worth mentioning that I think cryptocurrency in general is a bubble, even though im positively certain the technology is here to stay and will become an integral part of our society, the blistering rate at which the global crypto market capitalization has reach almost 800 billion is scary and unsustainable imo. The proof lies in some of these projects amassing billions of dollars in market cap with nothing more than an unproven concept.
Anyways all this obviously has to be taken with a grain of salt as im still learning TA and im far from claiming to be an expert in any of these categories.
WilliamFiltzpatrick
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This is not a cypher buddy...
MysteriousPersian
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@WilliamFiltzpatrick, looks pretty damn close to me/ Please educate me as to what it is then