The Official Cryptocurrencies are Tanking Panic Thread

Cam019 · 23 January 2022

qldfrog said:
Seriously, down to 3200 and you are ok with that as $3200 is above protected level?

$3,200 would be below the protected low and yeah, I don't hold it - so I'm more than okay with it.

Garpal Gumnut · 23 January 2022

Cam019 said:
Monthly Chart - Uptrend
Weekly Chart

I'm expecting a push down into that weekly range marked $29,300 - $31,800. What is also likely is that BTC spikes down and runs the liquidity that lies below the most recent weekly swing low at $28,600 ($$).

If BTC breaks and closes below $28,600 with displacement, don't be at all surprised to see BTC head down to $9,850 - $12,050. Even if this happened we would still be in an uptrend on the monthly chart as the protected low on the monthly chart is $3,850. So, if you're holding BTCUSD for the long term - nothing to worry about.

Thanks @Cam019

To be fair to non chartists it is worth pointing out that you are using an exponential chart in describing the price, trendiness and support/resistance of BTC.

This is the chart you posted.

These are the same prices with obvious blow offs in real money and real time on this simple non-exponential chart.

I'm a simple fellow and I spend money, buy and sell in real time not exponential. The story is quite different on the lower chart even though it has the same information.

gg

Sean K · 23 January 2022

Garpal Gumnut said:
Thanks @Cam019

To be fair to non chartists it is worth pointing out that you are using an exponential chart in describing the price, trendiness and support/resistance of BTC.

This is the chart you posted. View attachment 136379

These are the same prices with obvious blow offs in real money and real time on this simple non-exponential chart.

View attachment 136381

I'm a simple fellow and I spend money, buy and sell in real time not exponential. The story is quite different on the lower chart even though it has the same information.

gg

Yikes! That bottom chart looks like a tulip in the 1630s.

ducati916 · 23 January 2022

Now I have not checked the veracity of this screenshot of an article. Its relevance is that Mr Saylor has provided any number of YouTube videos where his unambiguous advice is, mortgage everything and buy BTC.

MSTR will probably need to liquidate if BTC drops to $20K as so much of MSTR's $1.5B debt is collateralised by BTC. That is essentially a margin call. Now a distressed seller unloading some 23,000+ BTC will do no favours to the market.

jog on
duc

grah33 · 24 January 2022

I suppose if it does crash, those who didn't buy in early enough won't be missing out.

Garpal Gumnut · 24 January 2022

grah33 said:
I suppose if it does crash, those who didn't buy in early enough won't be missing out.

Please explain.

gg

grah33 · 24 January 2022

Garpal Gumnut said:
Please explain.
View attachment 136470

gg

well initially I was quite disappointed in that i didn't buy in early, and then , due to inexperience (investing) and using margin accounts got flushed out. so if it took off without me, that would of hurt. but if it crashes, it won't make much of a difference for me in the end.

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