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Bitcoin price discussion and analysis

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Looking at the 4H, we can see that Bitcoin has made the first leg higher, breaking the last lower fast trend and moving above the moving averages. Since that break higher, we have seen the market move into consolidation. The pattern we can see on the 4H is an ascending triangle pattern.
These patterns are generally seen as continuation patterns when they are sitting in up legs or up trends. From here, it is all up to buyers. Can they confirm the pattern with a new break higher?
If we do see a confirmed breakout, we will be looking to see if buyers can test 22,700 resistance. If buyer momentum really carries forward past 22,700, we would then be looking at 28,500 – 31,000 to come in as resistance possibly.
But before we get too far ahead of ourselves, let’s see if bitcoin buyers can first confirm the pattern and get back up to 22,700! If sellers set a new close below 20,100, we will start doubting buyer strength.



 
I think there's still money about. A lot of people are still looking for high % gains, and crypto players have no idea how money gets chewed out during inflation.

At the other end. I think I saw a poll that said 90% of people expecting financial markets to go down. Generally the crowd gets it wrong.
I still think the FOMO is there. We might also see government stimulation from governments around the world.
I'm expecting a decent pump at some stage. Actually just looked at dow and its pumped up a bit.

I'm still overall bearish but expecting some big swing plays as investors get ground out. There's to much money that's been saved up.
 
moXJO said:
I'm still overall bearish but expecting some big swing plays as investors get ground out. There's to much money that's been saved up.
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With all the pressure BTC under, I don't think it could ever recover. Certainly under pump, Investors having a field day with BTC becoming easier to predict. Not enough buyer confidence amount's to a legit response. But I wouldn't get to cocky H4 market shows strong high nomentum their could be a swing any time now?
 
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Swinging already after the lows the other day.
Some big plays in some of the smaller coins as well. I'll keep trading crypto while it's a thing. Shares are just sht returns in comparison.
 
noirua said:
"The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust," Satoshi Nakamoto wrote in 2009.
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Except that Bitcoin is abstracted digital fiat, undeserved faith and confidence required. The volatility, reliance on Tether and transaction inefficiency of Bitcoin render it undesirable as a store of value or medium of exchange, therefore it does not function as a viable currency or provide a reliable opportunity to opt out of the financial system as Nakamoto intended. Its market price is totally disconnected from any claimed value proposition and supported entirely by hype, FOMO and the greater fool principle.
 
That's all fair in all, and probably true to a degree. Like all cypto's and commodity's alike their underlying value can be of a significant asset to traders. Unlike what your saying BTC is till endurable in it's short term future, give it a couple years if that. (Having a punt) And if it continues to follow trend as the outlook for it's long term appraise is in question. Perhaps it should be regulated giving it more leg room to stand up as a proposition for traders around the world...
 
Once the 21 million mark is reached for Bitcoin no more will be produced. At that point Bitcoin should in theory become more stable.

What Happens to Bitcoin After All 21 Million Are Mined?

Bitcoin, the first and most popular cryptocurrency, is finite. What happens when it reaches its total maximum supply of 21 million bitcoins?
www.investopedia.com
 

Just a cool 100 years to get there, not long now
 

El Salvador Buys More Bitcoin Despite 57% Loss and Debt Woes

El Salvador’s President Nayib Bukele is doubling down on his bet on cryptocurrencies, despite a brutal selloff in the market over the past months.
www.bloomberg.com

El Salvador's Bitcoin-boosting leader buys $1.5 million more

El Salvador’s Bitcoin-boosting president is back at it, doubling down on his country's losing investment in the cryptocurrency by buying over $1.5 million more
abcnews.go.com
According to the tracking site nayibtracker.com, starting last September, El Salvador has paid an average of almost $46,000 per coin, for a loss of 56%, or around $59 million.
Most of the nation’s dollar bonds now trade at around 35 cents on the dollar, deep in distressed territory
 
El-salvador Leader sounds like a bit of a desperate cut snake, with a gambling addiction, I don't know how people can trust him with their sovereignty. Bit of a loser hoping to win big on garbage like Bitcoin. Bit sus...
 
Stockybailz said:
El-salvador Leader sounds like a bit of a desperate cut snake, with a gambling addiction, I don't know how people can trust him with their sovereignty. Bit of a loser hoping to win big on garbage like Bitcoin. Bit sus...
Click to expand...
Bukele drank the Bitcoin kool-aid peddled by its most prominent promoters. Bitcoin was never going to transform an impoverished, dollarized third world country into a mecca for crypto expats and change the country's financial fortunes. It's more than sus, it's a disastrous experiment wasting millions in crypto fantasy land for a country that can least afford such losses.

El Salvador’s $425 million bitcoin experiment isn’t saving the country’s finances​

"In terms of merchant adoption, a survey published in March by the Chamber of Commerce and Industry of El Salvador found that 86% of businesses have never made a sale in bitcoin."

“The plane is gonna crash eventually, if they don’t change things,” said Muci. “If they don’t raise taxes, cut spending, start being much more disciplined. You know, convincing markets that they’re sustainable.”

He added, “Bitcoin doesn’t solve any of El Salvador’s important economic problems.”
 
BTC has had down legs just prior to Fed meeting on the past 2 occasions.... Can it fall a 3rd time?
 
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