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    Crypto Currency Markets Weekly Discussion Megathread - June 20, 2021 (GMT+0)

    June 20, 2021

    Crypto Currency Markets Weekly Discussion Megathread - June 20, 2021 (GMT+0)

    Weekly Discussion Megathread - June 20, 2021 (GMT+0)

    Posted: 20 Jun 2021 06:00 AM PDT

    Welcome to the /r/CryptoMarkets Weekly Discussion thread. The thread guidelines are as follows:

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    submitted by /u/AutoModerator
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    This one Is gold:D

    Posted: 20 Jun 2021 11:56 AM PDT

    no....

    Posted: 20 Jun 2021 12:27 AM PDT

    In a successful project, what do you think is most important? The dev team or the community?

    Posted: 20 Jun 2021 07:50 PM PDT

    When they say: "Soon to the moon"

    Posted: 20 Jun 2021 07:17 AM PDT

    FUD

    Posted: 20 Jun 2021 09:52 PM PDT

    SEC decided to not regulate bitcoin and other cryptocurrencies in 2021

    Posted: 20 Jun 2021 03:38 PM PDT

    Made this infographic to remember ATH's

    Posted: 20 Jun 2021 06:40 PM PDT

    El Salvador legislators already want to remove Bitcoin as legal tender

    Posted: 20 Jun 2021 03:13 PM PDT

    Socks market

    Posted: 20 Jun 2021 02:43 AM PDT

    Drink every Sunday night! Crack one out twice a day. And get ready for the blood bath this week!

    Posted: 20 Jun 2021 04:46 PM PDT

    This is the way

    Posted: 20 Jun 2021 09:18 AM PDT

    ADA Technical Analysis. +40% Bullrun incoming.

    Posted: 20 Jun 2021 10:01 PM PDT

    ADA Technical Analysis. +40% Bullrun incoming.

    This is my opinion. This is not financial advice. I want to share some of my findings from my research on ADA.

    (This was posted on r/CryptoCurrencies but was deleted. They referred me to post here instead)

    I noticed a significant support/resistance before the big pump in may. After the pump, we found strong resistance, creating a descending triangle. A descending triangle is generally a bearish pattern, but that is if the trend is already bearish. Given we are in a bull market and the general direction of ADA has been bullish since March 2020.

    ​

    ADA-USD on a daily timeframe since Feb 17 2021 -\> Today on a logarithmic scale

    The triangle is not enough though. If we zoom in and change to a linear scale and 4H timeframe, we can see the descending triangle with its interactions with the resistance and support. We also note the descending triangle in volume. Descending triangles in both is a bullish pattern.

    Descending triangle in volume and price with corresponding support and resistance

    The downward pattern of the descending triangle is subject to reversal when observing the Chaikin Oscillator, where patterns can indicate if a trend reversal is pending. We see below that this is the case. The oscillator is trending upwards when the price is trending downward. This is a bullish pattern.

    ​

    Chaikin Oscillator for the same timeframe as the image above

    Still not convinced? Chande Kroll stop gives us some indication if we are bullish or bearish. We note in the graph below that the price is quite volatile between the two lines. But in the last period of time, the price has been below both lines (bullish). This tells us that ADA is ready to make a jump above the red resistance line.

    ​

    The Change Kroll Stop indicator applied to the descending triangle

    Want more evidence? The "A sure thing" indicator from TradingView (very similar to MACD) shows us that whenever the green line crosses over the red line, there will be a bullish run. This line is yet to cross. The pattern is very similar to the cross on the very left of the graph (which leads to the biggest run in the scope).

    ​

    MACD (A sure thing) of the descending triangle

    More evidence? I got plenty! The indicator CM\_william\_wix\_fix matches the last large bull run of ADA. This is very similar to the current indicator. Which is also bullish.

    ​

    Using the indicator \"CM_William_wix_fix\" to spot another pattern

    Finally, like the nail in the bear-coffin. We've seen an almost identical pattern before. A few weeks before the may Bullrun, we saw a very similar descending triangle that leads to a big pump. It's not identical, but it's very similar.

    ​

    A similar pattern in the past

    All of these things tell us that ADA is about to make a run for it. Based on the size of the descending triangle, it should reach ~1.80$ per ADA (+40%). Pushing ADA to a market cap of 542B, reclaiming third place of all crypto coins.

    TLDR; Many indicators point to ADA breaking their short-term bearish trend and making a +40% bullish move.

    If you notice something I missed, feel free to point it out. I am here to learn and hope to share some insights with y'all

    submitted by /u/KingHultan
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    Marius Kramer weighs in on KAREN coin!!!

    Posted: 20 Jun 2021 09:35 PM PDT

    Remember to stare at your screen all day. Only way they will grow. Right?

    Posted: 20 Jun 2021 12:18 PM PDT

    Bitcoin Will Hit $100,000 Says Nexo Co-Founder

    Posted: 20 Jun 2021 06:15 AM PDT

    3 reasons why Ethereum may underperform Bitcoin in the short-term

    Posted: 20 Jun 2021 10:13 PM PDT

    June 25th

    Posted: 20 Jun 2021 02:15 PM PDT

    Finally, we are ending the quarter. Something CAN be positive now. The market might still go down, but I would bet that we are going to see the second life of this bullmarket. We could even see a new all time high potentially between now and Sept 24th.

    There is no guarantee it goes up, but the odds are good that it will. Betting on bitcoin to go down from 35k doesn't leave a lot of wiggle room.

    I think the next 5 days are when it's a good time to buy and ride the spike.

    Edit: I forgot to expand on the reasoning here. The futures contracts for the quarter expire the last Friday of the quarter. This is the largest driving factor of the price. The price is held in place so that hedge fund managers win their bets. You'll notice the end of April (the beginning of this quarter) bitcoin began tanking (after the huge climb at the end of January... or the beginning of last quarter). Thats because the bet was that it would. So, they bet that it would go down and they used Mark Cuban and Elon Musk to help while selling and shorting. Well, now it's at the bottom(likely) and now the bet will (likely) be that its time to go up. So, Elon is going to buy more (publically). Michael Saylor is going to say more. Mark Cuban is going to buy more (publically). It's a game that you're not invited to, but you can play if you know the rules.

    submitted by /u/YourMomSaidHi
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    Bitcoin Stock To Flow On Track? $135K by EOY? Billionaire Tells Bank of Russia To Adopt Bitcoin

    Posted: 20 Jun 2021 05:53 PM PDT

    Bitcoin’s Death Cross Is Here — Should You Panic Now? Tip: Relax and enjoy the Bitcoin revolution.

    Posted: 20 Jun 2021 08:48 AM PDT

    Market corrections are not affecting Ethereum holders much as 75% of accounts will remain in profits, even if ETH price drops below 1000$

    Posted: 20 Jun 2021 06:21 AM PDT

    5 Altcoins That Remain Strong in the Big Market Drop

    Posted: 20 Jun 2021 02:06 PM PDT

    Protect your Crypto! Mobile Phone SIM Swap Security

    Posted: 20 Jun 2021 09:07 AM PDT
    Read more
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