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    [Daily Discussion] - Sunday, December 05, 2021 Bitcoin Markets

    December 05, 2021

    [Daily Discussion] - Sunday, December 05, 2021 Bitcoin Markets

    [Daily Discussion] - Sunday, December 05, 2021

    Posted: 04 Dec 2021 09:00 PM PST

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    submitted by /u/AutoModerator
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    Are we going to see another Wyckoff Accumulation to a 40k bleed?

    Posted: 05 Dec 2021 04:45 AM PST

    https://www.tradingview.com/chart/BTCUSD/nn88pvH8-Another-Wyckoff-Accumulation-Phase-testing-40k/

    As institutional investors have started to get involved in crypto, we have been seeing more and more similarities to the stock markets and as such, we saw our first Wyckoffian patterns February to April in 2021. Followed by a very obvious accumulation pattern.

    We have recently had two distributions to follow and it looks like we might enter another accumulation phase. While I do believe there is a chance we could see a strong recovery and continue this bull market, we have to account for the possible play that is at hand.

    IF we fail to get over the bull market support band on a weekly timeframe as shown in this chart by a 20w sma and 21w ema , we might enter such an accumulation phase.

    What are my price levels based on?

    • Since 2011, if we held the bull market support band at a certain point, we have never again went below it. As you can see, we did test the Band for 10 days at the end of September.

    • We have seen previous accumulations and distributions which have formed significant points of support and resistance

    If we do get into accumulation, it would be wise to DCA throughout and hold some cash in stablecoins for a possible spring event (orange path). Should there be none, at least you DCA'd through the accumulation.
    I still believe we will see higher prices by Q1 or Q2 of 2022, as the cycles do seem to lenghten. 69k is unlikely to have been the top.

    submitted by /u/AlexWasTakenWasTaken
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    Bitcoin Node - My Rules

    Posted: 05 Dec 2021 07:12 AM PST

    Bottom Line Up Front: How do I choose which rules I want to abide by? (i.e. if there is a fork, how do I decide which way I want to move forward?)

    We have all heard about the saying "not your keys, not your crypto"; however, I am curious about "not your node, not your rules". For my node, I run the UmbreI software/platform, I have a 8GB Raspberry Pi with a 1TB Solid State Drive (SSD), and I just reached 100% synchronization with the blockchain to help support and further decentralize the network.

    In a world where anyone can decide to simply copy the computer code and create a new fork, how do I decide if I want to accept/agree to the new rules. For instance, most people know here that there is a current hard cap of 21 million BTC on the "real" chain (i.e. the most accepted chain). However, if someone wanted to change the rules and have a hard cap of 22 million BTC on their version, how do I choose if I want to stay with the "old" chain (i.e. 21 million BTC) versus the "new" chain (i.e. 22 million BTC).?

    To be clear, I am not here to discuss why I would want 22 million BTC over the "original" 21 million BTC. This about the concept of agreeing to new rules and the example above was used to demonstrate my thoughts. So, in future Bitcoin Improvement Protocols (BIP), how do I choose which version I want? How do I even know I have the version that I want right now (i.e. I want the fork with TapRoot, 21 million BTC, etc)? Is this done via Umbrel software?

    submitted by /u/AllureDreams1998
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