After the start of a much needed bullish relief in this week, bitcoin and crypto as a whole is inching closer to get the best monthly gain since October of 2021 aka the Uptober where we had the release of the first Futures ETF Bitcoin in the US. That’s indeed some much needed and appreciated relief we are getting right now after months of constant extreme fear and red candles.
How long we will continue to rally or how sustainable this rally is, is quite debate-able but we should just get a bit happy for the moment now, we dont get such times always in crypto and especially after the years past few months. Also we are not having any significant planned economic event next month as there is no FOMC to raise rates. So we may have some space left on this rally…
wow the speed at which this sub turns from bearish to bullish continues to amaze me
Y’all be living on hopium. From bull to bear in the span of a day.
I see coins are green, them shitcoins too
I see ‘em moon, for me and you
And I think to myself, what a wonderful world
Aren’t we still in a recession?
So, we’re about due for the “BTC to $100,000 by EOY” posts now, yeah?
BTC 2K
I was hoping this was comedy because it’s not going to age well in a day or so.
Take this post as a local top signal.
It’s only looking good because it stopped going down. We’ve got along road ahead to see gains for most people.
The NASDAQ is still below the 200 day SMA.
Until we break through that, then bounce off it as support, we are still in a bear market.
But odds are we will stick with the trend, meaning we reach the 200 day SMA and get rejected off it, followed by at least a month of downward movement.
The real question is:
After getting rejected off the 200 day SMA, do we make a higher low than the June bottom, or break through that support? If we break through it, then the algos will get triggered, and we could see another significant capitulation event.
This is what I’m really waiting to see.
Regardless, I’m in heavy DCA mode now, but still have an extra dry powder reserve ready just in case.
Trust me bro!!! 😎
I dont believe in this ralley.
The geopolitical situation is way to unsure, inflation still prevails, the pandemic far from over and the pending food crisis not solved.
To think Crypto is uneffected from this framework is delousional.
My intuition: Fallback to 20k in the next weeks
I wish people predicting Bitcoin prices could put some of their money in a smart contract somewhere. If their prediction turns out to be true, they get their money back along. If it doesn’t, then their money gets distributed amongst the people who sign up.
Copium is almost palpable.
Just made a double top, could be signaling bearish moves
Shut up
The stock market also had it’s best month in a long time. Not a coincidence. It’s really unfortunate that crypto and the stock market are so highly correlated now. The Federal Reserve and Inflation and Unemployment numbers decide how well we do.
And August will be it’s biggest decline.
To the moon right?
Now seriously, personally I think this won’t last but who really knows.
wen lambro,.,.?
When someone says “we are about to have the biggest X,” I get the hint that the opposite will happen.
Doesn’t Mt Gnox dump all that Bitcoin this month?
Dink doink pumpin
I thought Mt. Gox dump is next month?
I’m broke ATM either way
RemindMe! 6 months
Damn, if this sub is bullish, this means the market is actually bearish.
It’s most likely going down
you mean a big dump is about to happen when the mt.gox BTC funds are released?
clowns
This is going to age like milk in the sun
1 million EODay
Why? Normal people don’t have a reason to buy bitcoin. So why would it pump?
So what you’re saying is Crypto will do a Crypto and do the opposite of what’s expected?
This doesn’t seem to mean much given that it’s still over 50% down and there’s not a very positive economic outlook
keep calm this is a bear market