@Richburst9, I agree. It is hard to imagine that BTC will go up 50% in the face of another interest rate hike next month.
JamesRunningLongAbbe
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we will need to see a massive amount of volume to flow in... currently i cant see this theory working. you are talking about a 60+% move up on top of that crushing the 25k resistance zone and right after it hits 30k you'd like to short it? i could see us testing the 25k zone in the near future but i dont see more than 25k currently. top all this off by looking back at the latest volume and i just dont see where the buyers are coming from. so one question i'd like to leave here for everyone to think about is this :
consumer spending hasn't decreased, we are spending the same amount as we were before inflation the only difference is we are getting less... so with that in mind where does this money to push bitcoin up 60% come from? are whales just trying to fake each other out and take money from each other or _______?
vssebuyungo
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@JamesRunningLongAbbe, I like the fundamental view (I rely on technicals only) makes a lot of sense, I will review and see if that matches some of my other alternatives. Will respond in detail later.
JamesRunningLongAbbe
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@vssebuyungo, @vssebuyungo, one thing institutional/whales will have is control over the market if they turn off their little sell button/short buttons we could rally but so long as rates,war, recession..ect..ect.. all economic concerns loom at this price level again... i dont see any real need to have a 60% rally... now if lets say we drop another leg down cloesr to 10k there is a real potential to see a nice size rally up.. i am not eve convinced that 12k is the bottom with a lot of talk about regulation we could see a lot of money pulled off the table before its reinserted. I do think regardless of bull or bear that both sides will be shocked/impressed at the overall results cause I believe the past trend has officially been broken and we are now in the start of a new trend.
vssebuyungo
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@JamesRunningLongAbbe, Check out the chart now :) It is moving to 30K and will most likely fall from there!