Daily Discussion, July 11, 2018

Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

Daily threads are fast paced! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

We have a couple chat rooms now. Come say hello.

Please check the previous discussion thread for unanswered questions.


Read More

Spread the love

25 comments

  1. My message got deleted by the mods @ /r/bitcoinmarkets so I’m sharing it here:

    > Shorting here is picking up pennies in front of a steamroller. BTC will be above 10K before end of this week and will see a new ATH before end of August.

  2. Eggs_is_eggs

    |Author

    Bitcoin is not a real currency until the price going down is beneficial for some people. Right now everyone is rooting for the price to go up…so they can sell it to the greater fool. But with a real currency, prices changes benefit people both ways because people actually use it for transactions. It’s still nothing more than a speculative beanie baby or baseball card.

  3. BitcoinAlways

    |Author

    **Bitcoin’s Price May Be Charting a Bull Reversal**

    https://www.coindesk.com/bitcoin-may-be-building-for-a-major-bull-reversal/

    Bitcoin (BTC) price could create a major bullish technical pattern in the next few days, technical charts indicate.

    It’s a slightly confusing picture at the moment, however. The recent short-term bullish bias has been neutralized following BTC’s close below (as per UTC) the 10-day moving average (MA) yesterday.

    Further, the risk of a deeper pullback to $6,000 (February low and psychological support) look to have increased after Tuesday’s 5.7 percent price drop.

    However, that does not necessarily mean the bears are back in a commanding position, since the cryptocurrency is still holding well above the recent low of $5,755 (hit on June 24).

    Notably, BTC could end up creating an inverse head-and-shoulders pattern (bullish pattern) soon if the bears fail to penetrate the immediate support of $6,000 in the next couple of days.

    At press time, BTC is changing hands at $6,350 on Bitfinex – down 3.6 percent on a 24-hour basis.

    View

    BTC’s close below 10-day MA yesterday has neutralized the immediate bullish outlook.

    The immediate support at $6,000 could be put to test in the next day or two, but the probability of a break below that level is low.

    A high volume rebound from $6,000 would help BTC chart an inverse head-and-shoulders bullish reversal pattern.

    A daily close (as per UTC) below $6,000 would boost the odds of a drop below $5,755 (June 24 low).

  4. fallenkeith1990

    |Author

    remember : accumulate all the coins you can (btc included ofc and especially alts from airdrops) for when another bull run begins, then you should be golden since everything will rise and you can have even more bitcoin from altcoins 🙂

  5. tijuanaluv

    |Author

    Hi, I think btc is freakishly stable right now but in a way maybe that’s what it needs to prove its legitimacy as a currency compared to fiat… big fluctuations scare people off very easily. What do you think?

  6. Venom--

    |Author

    Hi. I’m new(ish) to crypto and was wondering if any of you long timers have any thoughts on this issue. Does non-crypto and non-financial related news ever has an effect on the buoyancy of the crypto markets? For example we’re nearing the climax of the football World Cup. If for example England were to win, it would apparently create a mood of optimism for the British. Would that also translate to British crypto traders feeling more confident or bullish?

Leave a Reply

Your email address will not be published.