Damn You Bart Simpson!
Bitcoin is looking very Bart right now.
I sure have a way with responding to the market.
As long as Granddaddy Bitcoin says above $9000 I'm extremely bullish.
--- 20 hours ago
Interestingly enough, we've crashed down to the exact resistance level of late May / early June. We had a Bart pattern here as well, right before the summer bull run. I won't make any bullish claims on this note though. Clearly that would jinx it. I expect further losses.
The bearish case for winter.
Many would make the argument that this summer bull run was somewhat of a fluke. Most people expected Bitcoin would trade flat for a year. Perhaps Bakkt FOMO alone was able to make people go crazy. If that's the case we might be in for a very anticlimactic winter.
DAI > $1 bad
Also, yesterday I made the claim that DAI trading > $1 was bullish. I kinda cringed at myself when I did this, because I've made the exact opposite claim before. If the demand to use Dai as a stable hedge exceeds that of the margin traders, clearly the market as a whole believes the price is going down.
ETH/LTC Silver Lining
These assets still seem to be outperforming Bitcoin.
Bigger spikes and lesser crashes.
Hopefully this signals that an alt-market resurgence is not far away.
Conclusion
I'm using November as a baseline for the entire potential winter bull run. If the market doesn't pick up in a couple weeks I'll assume we'll be stuck between $7500 and $9000 until early February when the halving FOMO starts to kick in.
We are at a very critical level right now.
One more week should give us a lot more information.
Will $8777 be the new $7500 and spike up?
Or will we simply descend back down to $7500?
Early today the chart was showing a bullish movement but all of a sudden the feds and FBI Came with this:
https://cointelegraph.com/news/fbi-crypto-is-a-significant-problem-that-will-get-bigger-and-bigger
And lots of weak hands started playing towards the hands of whales leaving the Market at this state.
Haha, they got fleeced by the tired 'terrorist' argument?
That is actually really good news.
People who dig for the truth know that is debunked 1000 times over.
Terrorism is done in USD.
Also, it's really the Secret Service's job to be worried about crypto. If it actually makes the FBI's job harder they can't really do anything about it anyway. Anyone can now make a currency off the grid (dark web) with as many private entities as they choose.
(The temptation was too great)
why are the red ones bart patterns and the white one aint?
I was gonna point out the white one but it didn't seem relevant. Do you think it is?
I guess if we get an inverse of the white one the two will kinda look like a bullish head and shoulders pattern.
wao, the picture looks critical ... better see bart, rises again as if nothing ...
#blessed
If a bitcoin whale(s) get hungry or has a bowel movement we get a bart on the chart it seems.
So you were right!
Price hit $8800.
You buying in?
Well see. Maybe. Since it didn't exactly sprong back up (sprong is a technical trading term) I'm not convinced it wont try for 8600 this weekend.
So you were hoping it to bounce back faster than $200 in 8 hours?
Yeah. With a nice "V" shape chart. That would have been bullish. Meandering over sold bounce...meh.
....
I was off a few days. Maybe we are going to try for 8600 early this week. Not a lot that has happened in the last week has been particularly bullish.
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Don't you mean Bartcoin? We have stacking sats, what about building Barts?
Bartoshi Simpsonoto?
Ay curumba!
I'm still a little bit over sold from the recent bump into 10-12k territory so I don't mind the dip. My next outright buy is set for $7,250, but in the meantime I will be slowly accumulating with a few video cards and selling incrementally if price goes above 10k.