Bitcoin
Out of context: Reply #1291
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- sarahfailin0
Shit is as low as it's been since the meteoric rise BTC saw on April 12th. In the night, the value dropped as low as 7290, and now it's retracing upward almost certainly to be followed by another drop.
Where will it stop? Hard to say. While these prices look really good, one thing that gives me pause is the distance between the daily MACD and the signal line, which has actually increased in the last 3 days -- meaning we're moving further away from a bull market. It could take numerous wiggles down and up to get the MACD to cross upwards. It should take days.
Perhaps we'll go sideways for a few days before ending up at around 6500-6800 before we take off into another bull run. The market needs time to consolidate before it can take off in a serious way after all these drops.
I'm very new to market technical analysis. Thanks for being an audience to my predictions. Please know I'm just an amateur, and these are just my opinions.
- T/A doesn't really work on Bitcoin.M01XXX
- I'd say it does to some extent. You can see market manipulation happening though as trends are intentionally broken by 'whales' w/ enough coin to throw aroundsarahfailin
- You were totally right about the bounce at 7200monospaced