didnt those 2 fake etf approval tweets, one from some crap online "news" site and one from a compromised government twitter account, also result in instant pumps (and of course immediate dumps when corrected)? and then the real etf approval comes and it drops.

yup just btc performing as usual.

Buddy, Buddy. Wherefore art thou Buddy?

Richie? You didn't murder our premier WO contributor did you?

Hopefully he's just been busy working on his tax return.

I sure hope he's OK.

Thanx. That explains Buddy's absence.

Now what about everyone else? This place is like a graveyard.

tumbleweed.gif

I am not going to proclaim to know anything with any level of confidence, but I am kind of thinking that there may well be some support in the $54k to $56k range - so I don't have any strong evidence for that, except mere feelings..

And, also we have seen $60k break a few times already, but not really get much below that.. before bouncing back above it..

So sure, this time could be different.

I remember that there were quite a few of us who had gotten quite confident that $6k was the bottom in late 2018 since it had been tested like 5 or 6 times before it finally broke, and when it ended up breaking, we got nearly a 50% extra drop out of that...

Yeah, sure this time is different.

The fact of the matter, ever single time is somewhat different, so we can really only approximate what we believe might happen.. and so I am not going to write off dropping below no man's land, until we do.. which seems to be right around $55k.. even though surely when we broke above $53k on about February 27, we surely did not spend very much time in the mid-$50k that I had considered to be the beginning of no man's land.. and also we have not revisited that $53k to $59k area.. which I am not even asserting would be any kind of necessary condition in order to resume our UPpity...

So then why should anyone (whether bears or low coiners or no coiners) be given another opportunity to buy coins in the $50ks?  I see no reason for it.. but at the same time, Corn is going to corn.. so it is not like the level of the correction and/or the extent that we might end up staying down to whatever levels that we end up going needs to make any sense.


As you seem to already seemed to have had found out (from Homer's post and your acknowledgement), I'm pretty sure that the issue with Buddy is related to talking.img.

Richy_T mentioned it here.

I'm really not surprised at all by the dip we're seeing and to be honest I somewhat expected that we would revisit $52K after the halving.  I still think that's on the table and while I wouldn't trade that expectation, I wouldn't fear it either.  We just had a massive runup from $16K to $70K.  It isn't unusual that people are profit taking and placing shorts.  However, these panic profit takers and short sellers will be the fuel for the next leg up.  It may be a rocky summer, but I keep saying it and I do believe it, that we're going to see this rocket launch in a major way around Halloween.  You're not going to want to be sitting on the sidelines when the trick or treating kicks off.

I am looking at the weekly chart. On the daily, sure, we could bounce off of the $54-56k range, (which is why I said I set a buy order @$54k), but unless it's a bear trap, in the long term we will go down lower than 56k, should we fall under 60k. That is just how I see it. May be wrong, may be right, I hodl either way.



Corn has a forgiving nature. The non-believers usually get a chance or two to get back into the game.

Explanation
Chartbuddy thanks talkimg.com

Now the price of bitcoin had crossed the 60k lane,it allow the market to go low further.Because we had the bull run for the longer period,So being a trader we must understand the new market will move to 59k-53k dollars as you said.After the mark of 70k dollars,the demand of bitcoin was reduced.The old holding people started to sell their long holding bitcoin,this was the reason for the price decline for now.When the demand was reduced and the selling ratio was gradually increased means,it automatically leads to the bear market.The reason is very simple,the new selling order was placed on the continuous way.


The price of the bitcoin was struggled to reach 30k dollars last year and was in the range of 20-28k dollars for longer period.Once the market was reached the 30k mark and gradually reach the 40k dollar in the 2024 halves,the price of the bitcoin increased tremendously and reach the highest capital of 70k dollars.Many expected 80-90k mark in the May month,but the reverse path was going on.This is just the stabling of the market,but some traders get fear and reduce the price further by doing the sell order and try to cash out their bitcoin to usd.This panic selling was the biggest blunder by the new cryptocurrency traders.The bitcoin is just going to stable at 53k-55k before the next bull run to the 80k target.

Thx buddy

Few weeks/months back I would have been happy with that recap