[Daily Discussion] - Thursday, July 15, 2021 Bitcoin Markets |
- [Daily Discussion] - Thursday, July 15, 2021
- Bitcoin in a TIGHT Descending Channel (June 15 Forecast)
- Market Outlook - 15/07/2021 https://fluffyblockchain.blogspot.com/2021/07/market-outlook-15072021.html
- Explaining Bitcoin to Family
| [Daily Discussion] - Thursday, July 15, 2021 Posted: 14 Jul 2021 09:00 PM PDT Thread topics include, but are not limited to:
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| Bitcoin in a TIGHT Descending Channel (June 15 Forecast) Posted: 14 Jul 2021 05:02 PM PDT Bitcoin rallied a bit on Wednesday, rising to about the $33K level before the closing the daily candle near the highs. This is a bullish hammer, albeit a small one, so I'm far from convinced that the short-term trend has switched to bullish. (July 14, 2021 8:30PM EST) Short-Term (chart here)Down 2 days, up one day, rinse, repeat. Bitcoin is slowly drifting lower back down to the $30K level again. Since July started, Bitcoin has formed a pretty clean descending pattern. As this sideways consolidation pattern comes to a close, which it could any day now, Bitcoin looks to break lower. Why? Lower highs, lower lows. A retest of support at $30K is in the cards as early as this week or possibly over the low-volume weekend trading session. Regardless, the path of least resistance in the short-term is down, not up. That's not to say this is a good time to sell Bitcoin. By nearly every measure, Bitcoin is still in a long-term bull market cycle. From a probability perspective, sellers are simply chasing the trade at this point; the point of least resistance over the med-long term is up, not down. For nearly all investors/traders, bull markets are when you BTFD, not fade the rally (small subset of active investors). Long-TermBTFD. Fundamentals have not changed. Daily and even weekly charts will show relatively large corrections; this is standard bull market behavior. Now that another altseason has been spectacularly squashed, this sets us up for another Bitcoin leg up to new highs. By nearly every measure, we are nowhere near a top; in fact, we are maybe halfway through this bull market. What do you do during bull markets? Buy. The. Dip. Support: $30K, then 78.6% fib retracement around $21,679.Resistance: $35K, $40K, then $45K.[link] [comments]  |
| Posted: 15 Jul 2021 04:24 AM PDT It has been an really non impressive quiet week in the Bitcoin market as volatility continues to seep out, and prices squeeze into a tight consolidation ranges with low volume. It is starting to feel like the calm before the storm as muted and quiet activity appears across both spot, derivative, and on-chain metrics. This week we will explore a broad range of metrics and indicators across the entire Bitcoin market to establish overall sentiment, volatility triggers, and models for investor behaviour. [link] [comments]  |
| Posted: 15 Jul 2021 12:32 AM PDT How do you explain Bitcoin to your family? I've found that much of the older generation especially, simply doesn't get it. I've made a fair amount of money from Bitcoin, and have tried to get some family members to make affordable investments in the asset. But, I've found that using their language, and explaining Bitcoin's benefits in ways that they can understand (and not that I understand) is troublesome. Any tips from anyone out there? [link] [comments]  |
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