Is the crypto winter over?

Discussion in 'Crypto Assets' started by schizo, Jan 13, 2023.

  1. schizo


    Disclaimer: This is purely an exercise in reading the price action of BTC on the chart. I'm not interested in the fundamental aspect of BTC. Also if you're more interested in arguing about the politics side of crypto, I suggest you visit Baron's Crypto Trading Journal instead.
  2. schizo


    On the monthly chart, the price passed above the previous resistance at 19666. The next target will be 28600.


    On the daily, BTS finally broke through the upper trendline with quite a momentum and I think this should provide some relief to the bulls.

    semperfrosty, Darc and johnarb like this.
  3. A lot of the crypto equities I've looked at still have a little less than half their reserves left. That is a lot of stuff to sell still until we hit the bottom when there is nothing left to sell. :sneaky:
    murray t turtle likes this.
  4. MarkBrown


    with all the crypto bashing if btc hasn't collapsed like the value of the all mighty american dollar then get ready cause it's going to blast off and leave everyone kicking themselves even at these levels.

    what else is there government backed currencies? lol good luck
  5. Overnight


    That chart is very telling. It looks a lot like the September swoon, but guess what we do not have now that we had in September last year...Rising inflation. Intrigue! Orient-Express-type shit!
  6. VicBee


    Crypto is on fire... I'm only down 58% now!
  7. Well, this is very damning from the Winklevoss twins on the shit-storm that's about to hit this winter. Seems the market is still not pricing the catastrophe in yet. (typical)

  8. schizo


    There will be a brief pause to this rally IMO. It's gone up too fast, and is in need of a breather. In fact, I believe BTC has already hit the interim high at 21250 and will now retrace back down to 19300-ish, as posted elsewhere for verification.

    Darc likes this.
  9. I can only assume two things....

    Market Manipulation...
    Shorts getting squeezed...
    RedDuke and schizo like this.
  10. schizo


    They're usually one and the same thing. :)
    #10     Jan 13, 2023