JAR52
jimmy the trader
OP
:
Yeah, I think they should continue to fall for a bit. I plan on going long once we get closer to halving and I'm actually convinced there's a bottom. I just think there's still room on the daily and weekly to come down to. A lot of people thinking bottom is in tho, so gets me a lil worried but I'm gonna stick with it
Kube
JAR52
:
That's because a lot of people think BTC bottom is 38k. So do you think BTC breaks below that and goes towards 32k like some of the more bearish folks? If so then BTC miners will follow suit. It's not dropping much right now and consolidating because there's multiple tight layers of support. 16, 15.50, 14.85, 13.85, etc...
JAR52
jimmy the trader
OP
:
I've only traded it starting in Oct/Nov... Man, happens to us all. I bought AMD years ago around 3 dollars and sold when it went to 20. Shoulda just kept it in the long term.
JAR52
Kube
:
I was thinking we'd get to the mid 30's and be bouncing around 34 to 36. I thought breaking 40 woulda created some panic. Perhaps I was wrong.
Kube
JAR52
:
38 is a strong buyers level. Also, many bulls were expecting a gap fill down to I think it was around 39.5 and then bounce back up into the 40s again so they didn't sell and were saying that was the bottom lol. Which of course we saw yesterday it wasn't because when that gap filled, it dipped and touched 38k before bouncing back up.
From non-technical perspective and this is just my own thoughts, I think 38k is more probable than a bigger dip. Maybe 36k as well but I don't see going all the way down to 30k like some of the more bearish folks because the ETF just launched and having BTC crash that hard would not be a good look to investors so I think the institutions will try to avoid a big crash because they need people to buy their funds so they can bank off the fees. That's how I see it and I could be completely off on this but it makes sense to me from a business POV.
Nightwolf-moon : Me too. In a couple weeks. Trust
JAR52 Nightwolf-moon : Feeling the same way. Really surprised by this short term strength we're seeing tho
jimmy the trader OP JAR52 : Same. Think the miners are done for a long time
jimmy the trader OP Nightwolf-moon : Trust
JAR52 jimmy the trader OP : Yeah, I think they should continue to fall for a bit. I plan on going long once we get closer to halving and I'm actually convinced there's a bottom. I just think there's still room on the daily and weekly to come down to. A lot of people thinking bottom is in tho, so gets me a lil worried but I'm gonna stick with it
jimmy the trader OP JAR52 : Remember when it was 0.3 cents . My first buy but I fumbled my bag
Kube JAR52 : That's because a lot of people think BTC bottom is 38k. So do you think BTC breaks below that and goes towards 32k like some of the more bearish folks? If so then BTC miners will follow suit. It's not dropping much right now and consolidating because there's multiple tight layers of support. 16, 15.50, 14.85, 13.85, etc...
JAR52 jimmy the trader OP : I've only traded it starting in Oct/Nov... Man, happens to us all. I bought AMD years ago around 3 dollars and sold when it went to 20. Shoulda just kept it in the long term.
JAR52 Kube : I was thinking we'd get to the mid 30's and be bouncing around 34 to 36. I thought breaking 40 woulda created some panic. Perhaps I was wrong.
Kube JAR52 : 38 is a strong buyers level. Also, many bulls were expecting a gap fill down to I think it was around 39.5 and then bounce back up into the 40s again so they didn't sell and were saying that was the bottom lol. Which of course we saw yesterday it wasn't because when that gap filled, it dipped and touched 38k before bouncing back up.
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From non-technical perspective and this is just my own thoughts, I think 38k is more probable than a bigger dip. Maybe 36k as well but I don't see going all the way down to 30k like some of the more bearish folks because the ETF just launched and having BTC crash that hard would not be a good look to investors so I think the institutions will try to avoid a big crash because they need people to buy their funds so they can bank off the fees. That's how I see it and I could be completely off on this but it makes sense to me from a business POV.
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