Bitcoins - about to hit $5,000 per coin today!

[Griffith]

ETH still holding up really well.

Dipping less than BTC and recovering faster.

[Griffith]

Ethereum flipping Bitcoin is a formality at this point.

[Flexacon]

It's still looking good.

Eth back at support and looking good like you said. Even a small chance for a green daily candle by EOD, but BTC is looking scary.

BTC could still send everything crashing. Stock market uncertainty, evergrande/ Chinese bonds, US debt, Omicron could all send BTC sub 30k.

I'm staying in for a potential parabolic ALT run, but it's straight up gambling right now.

[Mayday]

Eth back at support and looking good like you said. Even a small chance for a green daily candle by EOD, but BTC is looking scary.

BTC could still send everything crashing. Stock market uncertainty, evergrande/ Chinese bonds, US debt, Omicron could all send BTC sub 30k.

I'm staying in for a potential parabolic ALT run, but it's straight up gambling right now.

BTC will be fine.

The reality is we have no FOMO but maxis and idiots were all going spastic long on margin in anticipation. Big players can see all the positions along with stop loss positions (unfair I know).

1.8B of margin positions wiped out in an hour lol.

I had last Friday as the last day to make a 2013 run likely. Missing that means the next marker I have is 15th December for a starting uptrend.

I just don’t believe 100k will be easy. We might see something like 93k April - dump - 180k December. 2022 but then importantly I think 100k holds as support.

[OneMoreRep]

Meanwhile, so many are concerned about $BTC's dip, whereas I was instead hoping for a steeper drop that would pull other coins with it. I was hoping for Ethereum to get to lower levels ($1,000) in order to invest the house on it.

"1"

[Shakh]

Bitcoin USD (BTC-USD)
CCC - CoinMarketCap. Currency in USD

49,186.56-4,412.93 (-8.23%)
As of 11:21PM UTC. Market open.

[jude2]

Meanwhile, so many are concerned about $BTC's dip, whereas I was instead hoping for a steeper drop that would pull other coins with it. I was hoping for Ethereum to get to lower levels ($1,000) in order to invest the house on it.

"1"

I want to get back into ETH.  I just don't see it going to 1K.  I would be happy to buy back in at 2,500

[Flexacon]

We would all love ETH on discount, but we need to learn from the past and BTC maxis here.

Once upon a time BTC was at the same stage price wise as ETH is now. Long term it is only going to go up. Those who did best from this point with BTC were the ones DCA. You can wait around for a discount and then find ETH suddenly at 10K. Your next discount is 6K, 4k suddenly looks like a bargain.

DCA will take you to glory!

[Griffith]

I want to get back into ETH.  I just don't see it going to 1K.  I would be happy to buy back in at 2,500

There's strong support at the 4k region.

[Mayday]

Microstrategy bought 414M worth of Bitcoin.

[Flexacon]

Microstrategy bought 414M worth of Bitcoin.

This was before the crash.

This isn't the first time MST announced they bought a huge bag and then BTC proceeds to crash. I've joked about Saylor buying at the top numerous times. Of course he has been proven to be correct every time. I don't doubt this will be any different.

[Marty Champions]

whats this shit

[jude2]

There's strong support at the 4k region.

Seems that way.  I was able to get a few at $3,896 two days ago.

[obsidian]

We would all love ETH on discount, but we need to learn from the past and BTC maxis here.

Once upon a time BTC was at the same stage price wise as ETH is now. Long term it is only going to go up. Those who did best from this point with BTC were the ones DCA. You can wait around for a discount and then find ETH suddenly at 10K. Your next discount is 6K, 4k suddenly looks like a bargain.

DCA will take you to glory!

Yes agreed. You can't time the market. Waiting for it to crash before you buy does not always work out.

[OneMoreRep]

Not sure if anything, but ALGORAND is looking ridiculously promising. If any of you have good insight into this project, please share as I think I might want to acquire some $ALGO.

I watched the recent Miami event (Decipher) they held a few days ago and some key points include:

• Very strong fundamentals (Read the whitepapers and seems solid)
• Adoption by Central Banks for CBDC (looks to have all the necessary elements to facilitate digital currency)
• Over $2.5 Billion of institutional money pouring in very recently (Anthony Scaramucci and family are coming over)
• Real world application by way of developing El Salvador's blockchain infrastructure (If they succeed in El Salvador by helping to scale their Bitcoin efforts, it's a sure bet for adoption)

"1"

[Mayday]

September 21-22 was the last bottom.

Right now this lines up with September.

However 49.2k likely on a weekly close is not a good look. If we don’t bounce quickly then 42k closes are on the cards which is ETH @ 2,500.

[OneMoreRep]

September 21-22 was the last bottom.

Right now this lines up with September.

However 49.2k likely on a weekly close is not a good look. If we don’t bounce quickly then 42k closes are on the cards which is ETH @ 2,500.

You say it as if a lower entry point for Ethereum is a bad thing... Leave some for the rest of us, Michael Saylor.

"1"

[Mayday]

You say it as if a lower entry point for Ethereum is a bad thing... Leave some for the rest of us, Michael Saylor.

"1"

The longer the timeline the better it is for me so I don’t mind a pullback or sideways motion but I’d prefer sideways rather than a collapse.

Short term:
Upside target 93k
Downside 1 - 42k
Downside 2 - 38k

[OneMoreRep]

The longer the timeline the better it is for me so I don’t mind a pullback or sideways motion but I’d prefer sideways rather than a collapse.

Short term:
Upside target 93k
Downside 1 - 42k
Downside 2 - 38k

Downside 2 (38k) puts ETH at what, give or take $2k?

"1"

[Mayday]

Downside 2 (38k) puts ETH at what, give or take $2k?

"1"

2,280 by my numbers.

[Griffith]

September 21-22 was the last bottom.

Right now this lines up with September.

However 49.2k likely on a weekly close is not a good look. If we don’t bounce quickly then 42k closes are on the cards which is ETH @ 2,500.

 

[FitnessFrenzy]

prothedoge must  be the biggest clown alive for not selling doge at 60 cents

[Mayday]

But just keep in mind we are still in an uptrend providing daily closes remain above 42k. We should see 47k-53k region for the next couple of weeks if we are holding up.

Wall St is hedged yet again so none of this has taken the big players by surprise. What it does mean is when they close their shorts it’s a buy and then they open their longs it’s a buy. So once we get past this holding pattern we could see a crazy run up.

The market is something like 100% certain of a rate rise in June 2022. So a run up in crypto identical to 2021 with a June dump might be how it plays out as we would have crypto seasonality plus rate increase happen at the same time.

[Mayday]

Here you go, even lower today at 16 and around 10 has been rock bottom.

In other words, everyone has already freaked out and we likely aren’t going much lower.

You need to remember those crazy drops are from cascading liquidations from long margin players so once they are gone it’s not necessarily going to happen a second time, particularly not without FOMO in play which it isn’t.

[Griffith]

But just keep in mind we are still in an uptrend providing daily closes remain above 42k. We should see 47k-53k region for the next couple of weeks if we are holding up.

Wall St is hedged yet again so none of this has taken the big players by surprise. What it does mean is when they close their shorts it’s a buy and then they open their longs it’s a buy. So once we get past this holding pattern we could see a crazy run up.

The market is something like 100% certain of a rate rise in June 2022. So a run up in crypto identical to 2021 with a June dump might be how it plays out as we would have crypto seasonality plus rate increase happen at the same time.

Do you see any pullback from this recent rally?

Overall, it's looking good but I'm still cautious.

I'm not holding at the moment, more swing trading. Took some profits recently now waiting for another entry point, specifically if ETH breaks the downward sloping resistance line of about 4416-4420.

From Twitter: