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Posted on 5/28/21 at 6:09 am to CecilShortsHisPants
Oh look Arbitrum getting released today so of course shitty arse btc has to tank
Posted on 5/28/21 at 6:30 am to CE Tiger
It's fascinating to see if we are watching the wyckoff accumulation play out. If so, this (~35k) should be the the phase A ST, and over the next week it should climb back up to ~42k (with a little dump in the middle)
This post was edited on 5/28/21 at 6:31 am
Posted on 5/28/21 at 7:52 am to CecilShortsHisPants
yea market doesn't look too great right now. hard to be overly bullish without any catalysts
Posted on 5/28/21 at 9:07 am to rocket31
ETH has narrative catalysts but hasnt decoupled (yet)
Posted on 5/28/21 at 9:46 am to maclauer
you think it's going to...at this point, I'm just wondering why it hasn't?
the msm pushing eth on everyone seems suspicious as well
the msm pushing eth on everyone seems suspicious as well
Posted on 5/28/21 at 9:51 am to rocket31
The market will never fully decouple from BTC but will become less reliant on its swings from a magnitude standpoint.
You saw that this cycle. Lots of coins had massive % gains despite btc only having a “measly” 18x.
Who knows what eth would have done without doge sucking out market share?
You saw that this cycle. Lots of coins had massive % gains despite btc only having a “measly” 18x.
Who knows what eth would have done without doge sucking out market share?
Posted on 5/28/21 at 9:53 am to Tiguar
quote:
The market will never fully decouple from BTC but will become less reliant on its swings from a magnitude standpoint.
you of course might be right but I'm not seeing how we can make that conclusion when all price action right now says the opposite
Posted on 5/28/21 at 9:59 am to rocket31
You’re missing the point.
I’m saying btc will still control the overall flow for the foreseeable future and while the alts may ping up and down, you won’t see a world where btc is in a winter and some other top 20 market cap coin goes 50x.
But you will see a world where btc only 4xs but other top 20 coins still 20-30x
I’m saying btc will still control the overall flow for the foreseeable future and while the alts may ping up and down, you won’t see a world where btc is in a winter and some other top 20 market cap coin goes 50x.
But you will see a world where btc only 4xs but other top 20 coins still 20-30x
Posted on 5/28/21 at 10:00 am to Tiguar
oh gotcha. yes I agree with that generally speaking. the btc bull narrative is in limbo right now
Posted on 5/28/21 at 10:25 am to rocket31
I know you guys hate it when I say this but what we're seeing really isn't that different. Nothing new has really happened with the BTC-ETH relationship
2018:
Eth hits ATH 1300 1/12. BTC was 14k on this day - 71% from ATH.
Eth range traded 850-1000 (65-76% ETH ATH) for two months before a flash crash moved the range to 700-800 (52-60% ATH) and then slow-bleeding down to $90 in December.
Btc was 10k (50% 2017 ATH) on 5/4 when eth flash crashed and began range trading 40-60% ATH while eth bleed to $90.
If this looks familiar, it's because it is.
Eth ATH this year 4100. BTC was 79% ATH when ETH hit. It is currently range trading $2500 - $2800 (60 - 68%) while btc range trades 55% - 60%.
Stretch this out by a couple months and I'll bet you see that BTC range drop down to 45-55%.
2018:
Eth hits ATH 1300 1/12. BTC was 14k on this day - 71% from ATH.
Eth range traded 850-1000 (65-76% ETH ATH) for two months before a flash crash moved the range to 700-800 (52-60% ATH) and then slow-bleeding down to $90 in December.
Btc was 10k (50% 2017 ATH) on 5/4 when eth flash crashed and began range trading 40-60% ATH while eth bleed to $90.
If this looks familiar, it's because it is.
Eth ATH this year 4100. BTC was 79% ATH when ETH hit. It is currently range trading $2500 - $2800 (60 - 68%) while btc range trades 55% - 60%.
Stretch this out by a couple months and I'll bet you see that BTC range drop down to 45-55%.
This post was edited on 5/28/21 at 10:29 am
Posted on 5/28/21 at 11:12 am to Tiguar
quote:
I know you guys hate it when I say this but what we're seeing really isn't that different. Nothing new has really happened with the BTC-ETH relationship
2018:
Eth hits ATH 1300 1/12. BTC was 14k on this day - 71% from ATH.
Eth range traded 850-1000 (65-76% ETH ATH) for two months before a flash crash moved the range to 700-800 (52-60% ATH) and then slow-bleeding down to $90 in December.
Btc was 10k (50% 2017 ATH) on 5/4 when eth flash crashed and began range trading 40-60% ATH while eth bleed to $90.
If this looks familiar, it's because it is.
Eth ATH this year 4100. BTC was 79% ATH when ETH hit. It is currently range trading $2500 - $2800 (60 - 68%) while btc range trades 55% - 60%.
Stretch this out by a couple months and I'll bet you see that BTC range drop down to 45-55%.
I agree somewhat. the peaks of this run weren't as proportionally high as the previous, the trough shouldn't be either. either way crypto winter may be imminent but longer run its in good shape imo. if you have steady hands you will be up considerable in a few years the next halving will be worthwhile.
Posted on 5/28/21 at 11:18 am to AMS
Agreed. Looking at my numbers, I may revise my floors a bit.
Btw, I found an article saying that 880m of ETH options are due to expire today with a max pain price of 3k in addition to the 2.2b of BTC mentioned earlier.
Btw, I found an article saying that 880m of ETH options are due to expire today with a max pain price of 3k in addition to the 2.2b of BTC mentioned earlier.
This post was edited on 5/28/21 at 11:19 am
Posted on 5/28/21 at 11:21 am to maclauer
quote:
Everyone has gotten very bullish very quickly. Certainly an interesting time.
Everyone got bullish at resistance
Now everyone bearish at support
ETA: to clarify, I was a seller on the Elon tweet pump as posted, and am a buyer again here. Risky with the long weekend upon us but I like the r:r setup
This post was edited on 5/28/21 at 11:42 am
Posted on 5/28/21 at 11:45 am to maclauer
Too many baws have a short term bull/bear view
Still bullish 2021 imo
Still bullish 2021 imo
Posted on 5/28/21 at 11:45 am to maclauer
Very risky with those options expiring.
Some TA has a short term floor of 19k depending on who decides to liquidate as a result.
Some TA has a short term floor of 19k depending on who decides to liquidate as a result.
This post was edited on 5/28/21 at 11:46 am
Posted on 5/28/21 at 1:58 pm to TigerTatorTots
I mostly lurk this thread but have to ask;
Did yall buy this dip already? Buying it now? Waiting for lower?
I have a few limit buys laddered in but they don't start for another 10-15% drop from current. Obviously it's anyone's guess but do you think BTC will drop below 33K again before moving north?
Did yall buy this dip already? Buying it now? Waiting for lower?
I have a few limit buys laddered in but they don't start for another 10-15% drop from current. Obviously it's anyone's guess but do you think BTC will drop below 33K again before moving north?
Posted on 5/28/21 at 2:18 pm to Scooba
I didnt have the extra cash to buy last week but if I did would have gone balls deep in BTC, ETH and several alts, it was a flash sale 50% off
Posted on 5/28/21 at 2:25 pm to Scooba
we buy high and sell low here, sir
Posted on 5/28/21 at 2:46 pm to Scooba
Bought a little at 32 on the 23rd. Bought a little more today. Can’t go wrong with a long term view buying now
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