Bitcoin is up not even 10% today, and only to where we were a month ago. Why is everyone acting like we just hit $100k or something?

I get everyone is happy there’s some green today, but we just went back to where we were only a month ago. Everyone is taking about “the journey to $100k has begun!” and “the recovery is here!” but if you zoom out of the charts just a little bit, it doesn’t look all that great. Maybe I’m missing something and don’t understand TA and can’t recognize the golden cross Fettuccini pattern or whatever the hell you draw on the charts, but don’t you think it’s a bit too early to call the next rocket launch?

Submitted October 02, 2021 at 02:02AM

El Salvador's president says the country has mined its first bitcoin using volcano energy

https://ift.tt/3AW4gXA

Submitted October 01, 2021 at 08:08PM

We're all going to be rich. Throw caution to the wind.

Hello fellow degenerates,Our crypto coins are going up. That can only mean one thing. They will keep going up forever. It's time to immediately start counting our chickens before they are hatched. We are definitely going to be super rich and very soon.What's that mean for us crypto enthusiasts? We should start spending wildly as if we already had the money. Buy anything you ever wanted. Quit your jobs and kick back since there's no stopping this rocket ship. You all better have your monocles picked out, because there's going to be a rush on them with all of us buying at the same time.​Enjoy your guaranteed millionaire status.

Submitted October 01, 2021 at 11:29PM

Don’t miss out on your chance to be a part of Reddit’s next big thing

Recently there was a post that showed that only 3% of this sub has set up their vaults in order to receive moons. This is absolutely crazy, if you haven’t set up your vault, you should do it now!I have a very strong feeling that community points are going to be the next story about Reddit that gets into the news. It’s already happened with GME, Reddit just seems to attract interesting societal movements.I think that more social media sites are going to start rewarding their users for using them, this has been done before but never on the same scale as on Reddit.It can’t hurt to open your vault. I have a feeling that about 5 years from now there will be a lot of people sad that they missed out on moons / tipped 1000’s of dollars of them away.!remindme 5 years

Submitted October 01, 2021 at 09:49PM

I called the 29k bottom back in July. Here's a follow-up analysis

ICYMI, you can find my analysis calling the 29k price bottom on 20th July here.Again, I'll try to keep this follow-up analysis simple enough that anyone is able to understand, but you may need a basic grasp of TA to understand certain terms used here. The charts, once again, are pretty easy to follow.Mid-cycle correction phase bottom at 29k on July 20July 20 was the only daily 'close' below 30kMichael Burry was right, after a fashionCredit where it's due. Michael Burry was partially right back in May. Bitcoin did break down from a head and shoulders pattern. But he was wrong with his identification of the pattern.The neckline of the pattern was not at 30k as he identified it, for a number of technical reasons but let's not get into that now.The neckline was at 47k (2.618 secular fib level as shown in my previous post from July). A breakout (breakdown) below the neckline occurred in mid-May as charted below and the target of 33k was realized very quickly thereafter.TA overview of the first half of 2021An immediate recovery found rejection at established resistance/support flip at 40600, coinciding with a dreaded death cross, leading to a Wyckoff accumulation phase, springing from 29k (1.618 secular fib level as charted in previous post from July).Wyckoff Accumulation Range. Spring from 1.618 secular fib (29k)July bottom, September higher lowHow similar is the current cycle to 2013 and 2017? Let's take a look.(Hint: Look out for correction bottom in July and higher low in September)RSI breakout in July, higher low in September finds support at established resistance/support flipJuly breakout, September higher low finds support at resistance/support flipYou know the drill. Insert spiderman pointing memeMonthly channel. Like clockwork. Tick.. Tock..Flag BreakoutThroughout September, the price consolidated in a flag. Similar to 2013 and 2017, retaining support at established resistance 40600 was critically important. Once that was secured, a breakout was imminent, and it materialized earlier today (estimated target 65k).Critical support at 40600 retained. RSI support held on retest. Flag breakout​Closing thoughtsI'm not going to complicate this post with any on-chain analysis. Suffice to say, what's evident is there's been a great deal of sustained price suppression in the derivatives market for the past 3 months with simultaneously aggressive spot accumulation, which is typical of pre-parabolic phases. If you're of a mind to discourage this practice, ubiquitous in legacy markets, all you must do is take ownership of your keys.My conservative estimate for this cycle's peak is c. 146k. Looking at log scale Fibonacci levels and factoring for diminishing returns theory, a peak price between 185k and 198k seems likely (Dec-Jan).Bitcoin is a more mature asset today, with much more complex market dynamics than previous quadrennial cycles. In addition, there are macro incertitudes that may militate against or delay the realization of this cycle's peak.That's not to say it's not the most compelling non-correlated risk-off hedge asset but these properties are undermined by Bitcoin continuing to trade on centralized/custodial venues, leading to exposure to certain risks that inhere in legacy markets, and legacy investors, at large, failing to fully appreciate its singular merits. That will come with time.As always, DYOR.

Submitted October 01, 2021 at 09:04PM

Crypto Market Recovers $170,000,000,000 in a few Hours: Didn't People claim China would be the End of Crypto?

https://ift.tt/3F1x6Iu!

Submitted October 01, 2021 at 07:31PM

Congrats to beginners who survived September !

Hey this post is for us noobs! Just congrats for surviving this small dip. I didn't survive the one this summer but here I didn't sell and I bought the dip.We are now in green territory and bravo to you! Let this be a learning lesson ! You just have to wait to see green again in your portfolio. Let's brace, for there are greener valleys to discover !If you didn't sell during this period tell your stories please ! So that we grow together ! We can prepare our mental for the next dip and learn to slowly win here !!I'm so glad to be in the profits again ! Let's all celebrate this start of October ! =)

Submitted October 01, 2021 at 07:14PM