Julian_Williams Posted January 20, 2021 Share Posted January 20, 2021 24 minutes ago, Eric123 said: Bitcoin is currently below the support level for a close - let's see if it rebounds and loses above the support line. XRP is staying flattened out. I would guess a longish pause in the BTC growth would be good for the long term future of the bull market. We do not want it to go exponential too early, that moment is best to happen in 6 - 9 months time. dtpace and WuWei 2 Link to comment Share on other sites More sharing options...
dtpace Posted January 20, 2021 Share Posted January 20, 2021 2 hours ago, Julian_Williams said: I would guess a longish pause in the BTC growth would be good for the long term future of the bull market. We do not want it to go exponential too early, that moment is best to happen in 6 - 9 months time. BTC consolidation would also be good for altcoins to pump as well. Julian_Williams 1 Link to comment Share on other sites More sharing options...
Plikk Posted January 20, 2021 Share Posted January 20, 2021 Support held. I bought more on this dip and still think we will see bullish continuation to ~50k. ManBearPig, Rty-Quilla and Milly238 3 Link to comment Share on other sites More sharing options...
JASCoder Posted January 20, 2021 Share Posted January 20, 2021 A somewhat bullish tweet from CZ Binance... Baka, Gilligan, Troote and 6 others 7 2 Link to comment Share on other sites More sharing options...
Troote Posted January 20, 2021 Share Posted January 20, 2021 Very interesting tweet. People are withdrawing their BTC and hoarding them in wallets. That is a good metric. When BTC flows back into the exchanges, it signals the end of the bull market. Very interesting... JASCoder, 2ndtimearound, Babelly and 1 other 3 1 Link to comment Share on other sites More sharing options...
Raekwon Posted January 20, 2021 Share Posted January 20, 2021 2 hours ago, JASCoder said: A somewhat bullish tweet from CZ Binance... Be bearish when others are bullish. Link to comment Share on other sites More sharing options...
JASCoder Posted January 20, 2021 Share Posted January 20, 2021 6 minutes ago, Raekwon said: Be bearish when others are bullish. If trillions of fresh capital start pouring into the speculative ecosystem, which must compete for the dwindling supply. That's NOT the time to go short. What am I missing ? Julian_Williams and 2ndtimearound 2 Link to comment Share on other sites More sharing options...
JASCoder Posted January 20, 2021 Share Posted January 20, 2021 (edited) 13 minutes ago, Troote said: Very interesting tweet. People are withdrawing their BTC and hoarding them in wallets. That is a good metric. When BTC flows back into the exchanges, it signals the end of the bull market. Very interesting... Thanks for sharing. I've been wondering about this since "The Modern Investor" began pointing out this new phase with BTC trading - with big money (PayPal, Grayscale, MicroStrat., etc) has begun slurping up much of the available supply, and locking it away. He been predicting that this "Long Pressure" will continue to drive up the price for the dwindling supply. Edited January 20, 2021 by JASCoder Link to comment Share on other sites More sharing options...
Julian_Williams Posted January 21, 2021 Share Posted January 21, 2021 15 minutes ago, JASCoder said: Thanks for sharing. I've been wondering about this since "The Modern Investor" began pointing out this new phase with BTC trading - with big money (PayPal, Grayscale, MicroStrat., etc) has begun slurping up much of the available supply, and locking it away. He been predicting that this "Long Pressure" will continue to drive up the price for the dwindling supply. With big institutional money entering BTC one wonders if this BTC bull cycle is going to peak and collapse like it did last time, or just correct and consolidate whilst more stock is soaked up by intuitions. How does one break a cycle like that? JASCoder, 2ndtimearound and ManBearPig 3 Link to comment Share on other sites More sharing options...
2ndtimearound Posted January 21, 2021 Share Posted January 21, 2021 (edited) 36 minutes ago, Julian_Williams said: With big institutional money entering BTC one wonders if this BTC bull cycle is going to peak and collapse like it did last time, or just correct and consolidate whilst more stock is soaked up by intuitions. How does one break a cycle like that? There's one theory that the pullback of 25% or so in BTC (about 10 days ago) was orchestrated to "free up" BTC from retailers who tend to sell in panic....then again, I've probably described what the market usually does: rinsing out weak hands in a particular price range. Also, according to here : https://cointelegraph.com/news/bitcoin-whales-are-betting-40k-isn-t-the-top-as-data-hints-bull-run-is-only-beginning .... Quote In 2021 alone, 164 new 1,000+ BTC entities were created, together controlling around $6 billion. While these may not all denote whales increasing their positions, the numbers feed into an existing narrative of wealth transfer which has characterized Bitcoin's latest bull run. As Cointelegraph reported, the 1,000+ BTC wallet category was the only one to increase in recent times, with smaller wallet holder numbers conversely dropping. While some appealed to hodlers not to sell out to whales, others argue that these newly-minted big players will aggressively protect the value of their investment. "Large inflows to whale wallets were happening at $29,314. They will be protecting their btc... This should be strong support for bitcoin in the short term, and hopefully long term," monitoring resource whalemap summarized on Twitter this week. So it looks like $29.3K or thereabouts would be an extremely solid support level. It's all adding up to look like a good 2021 for crypto... Edited January 21, 2021 by 2ndtimearound Link to comment Share on other sites More sharing options...
Raekwon Posted January 21, 2021 Share Posted January 21, 2021 7 hours ago, JASCoder said: If trillions of fresh capital start pouring into the speculative ecosystem, which must compete for the dwindling supply. That's NOT the time to go short. What am I missing ? Nothing, I am jiust bored. Link to comment Share on other sites More sharing options...
xrp-nuke Posted January 21, 2021 Share Posted January 21, 2021 46 minutes ago, Raekwon said: Nothing, I am jiust bored. And therefore you decided to organise short squiz Raekwon 1 Link to comment Share on other sites More sharing options...
Eric123 Posted January 21, 2021 Author Share Posted January 21, 2021 Bitcoin broke below support - big - volume is low for such a large move though. Based on the low volume I am guessing Bitcoin will have a significant bounce with a very big lower wick today. Rty-Quilla 1 Link to comment Share on other sites More sharing options...
xrp-nuke Posted January 21, 2021 Share Posted January 21, 2021 Guys are you buying this dip 🤣🤣🤣 Link to comment Share on other sites More sharing options...
Baka Posted January 21, 2021 Share Posted January 21, 2021 Just now, xrp-nuke said: Guys are you buying this dip 🤣🤣🤣 no , we need to see if we broker under 30K first. because if we do , we can go to 20-25K pretty fast Link to comment Share on other sites More sharing options...
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