Whales: no surprise here. They control the (fake) news and have enough chips to "ignite" momenta as they see fit. They sell high & buy low.
Shills: During a rally, they post everywhere, all the time that bitcoin will soon go to 50k, 100k, 2m by 2020... During a crash, they post everywhere, all the time that bitcoin will soon go to 5k, 1k, 0 by next month...
How to spot shills on TV?
You see a POS post that instantly gets 1k, 5k, 10k thumbs-up ---> probably some bots are involved. On the exchanges, I see buy to sell orders 9:1; I see more buys than sells getting filled ---> the price continues to drop because small investors are scared. Whales get to buy back what they sold in December at half price.
In due time, the shills will disappear. They'll come back with a new account that gets to "TOP" status immediately (b/c of the thumbs-ups).
The last time bitcoin was this oversold was 11/11/2017. I believe 8k is the bottom this time. We'll see a bounce to 9k, then back to 8k, and then rally to 14k.
This is 36.5% drop from the neckline, which is 36.5% drop from ATH (see chart).
Of course, this is my personal opinion. If you'd like to join the "bear market" folks,...
Bình luận
⋅
we appear to be bouncing off 8000
hope this will last -> and squeeze out the shorts (though that could take some time).
Bình luận
⋅
now could be the second time we touch 8k (as the original post suggests).
Bình luận
⋅
We touched around 8200. Close enough. If my guess is right, we'll go up now
Bình luận
⋅
Appears to be doing well. Now, we have two things to watch for IMO:
1. I'd like to see we break 10k 2. I'd like to see KRW price becomes higher than USD --- it appears that the Koreans not only FOMO harder but also FUD harder. When they start to realize the market has reversed, that'll be the final confirmation
I think we have some other posts on TV that're reasonable and have laid out the technical reasons why 8k was the bottom.
In my original post I didn't really mention the long-term trend line, the channel, the 200D MA ---> they're in my previous posts. I must admit at 10k I never thought we'd go to 8k even though I posted it. Made the mistake & opened long margin positions too early & took a hit on the way down. We all just learn from ours (and hopefully other people's) mistakes.
Bình luận
⋅
Unbelievable. Another crash.
Let's see if 8k holds.
Bình luận
⋅
The next 48h will be critical. If we can get above 10k before Wednesday, we'll be fine.
If we get another crash below 8k, there won't be any opportunities for months. 2018 won't be the year of crypto in that case.
The whales buy Bitcoin
The corrupt media is pumping the price
The whales sell Bitcoin
The corrupt media is dumping the price.
Apparatio
⋅
As a Korean, I think that when we look at the events inside Korea, the bear started and the media has reported about the Bitcoin very negatively. Now it's worse.
Also, due to government regulations, the small exchange is virtually unable to deposit KRW into the exchange, and it is difficult for anyone with no fixed income to reinvest KRW into the exchange, making it difficult for them to make investment.
I wanted to let you know what's going on in Korea, so I commented.
Please excuse my awkward grammar because I have the help of a translator :)
DrJLT
⋅
@Apparatio, Thanks, man, highly appreciated. The news :D I think Elliott wave applies here:
Wave A: .... In wave A of a bear market, the fundamental news is usually still positive.....
Wave C: ....Volume picks up, and by the third leg of wave C, almost everyone realizes that a bear market is firmly entrenched.....
The whales buy Bitcoin
The corrupt media is pumping the price
The whales sell Bitcoin
The corrupt media is dumping the price.