ArShevelev

Bitcoin Wyckoff Logic: The Four Market Phases (possible 2600$)

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello,
This is analysis for 2018 year according to Wyckoff Logic.

Price looking for Flat range between 8k and 11k.

Cross 16000$ will be invalidate this analysis
Trade active: Be aware of Failed rally
Trade active
Trade active: LOL
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Comments

Considering the production cost is around 4800$, and assuming 2018 is not the end of Bitcoin, this analysis is fundamentally false
+5 Reply
@emreero, FALSE and HILARIOUS... some of these "PRO" traders get trapped in TA and completely disregard FUNDAMENTALS. I guess for them electricity and hardware is free, right? They don't even see it...
+2 Reply
DerrickGibson ultranemesys
@ultranemesys, I guess you fail to realize the power of supply and demand. Bitcoins cost of production has no influence on price. What determines the price is how much someone is willing to pay for a Bitcoin. The only way price goes up is if there's more buyers than sellers. When it first started you could mine them for free, and in 2017 people were willing to pay 20k for something that at one point cost nothing to produce. All that matters is human psychology and perception of value.
Reply
ultranemesys DerrickGibson
@DerrickGibson, Not at all, this only means BTC is underpriced, good luck mining for free... try in the next halving maybe and you can be an economic advisor for Bitmain too... for free that is ;)
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DerrickGibson ultranemesys
@ultranemesys, The market doesn't care if you think BTC is "underpriced" or not. The price is determined by supply and demand. BTC was apparently extremely overvalued based on the reaction of the market since 20k. The cost to mine a Bitcoin has also reduced dramatically, because the hashrate has reduced. Bitcoin works just as well at 20k as it does at 3k, 2k, 1k. The price has absolutely nothing to do with hashrate, maybe one day you'll understand this.
Reply
ultranemesys DerrickGibson
@DerrickGibson, Who is talking about hashrate? 20K was determined by supply and demand too. Come back to me the next market cycle... apparently you will learn the hard way.
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DerrickGibson ultranemesys
@ultranemesys, You. Talking about muh fundamentals. Saying that price will not go below 5k because of the cost of production, which is literally based on hashrate. Do you not understand how mining works? I will be more than happy to ride the next bullish market cycle. The accumulation phase will take many many months if not years, so I will have plenty of time to close my shorts and think about buying once clear signs of a bottom appear. Sorry to say we have no sign of a bottom yet, so keep enjoying the ride good sir :)
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ultranemesys DerrickGibson
@DerrickGibson, and I made a nice 35% profit from that selloff by the way, it is how you addapt what is really important. Again, come back to me the next cycle, it will take more than 40 minutes... this is pointless already.

People who think they have all the answers always make the same mistake over and over: *They think they have all the answers*
Reply
DerrickGibson ultranemesys
@ultranemesys, Projecting? I never claimed to have all the answers I'm just doing the best I can with the evidence presented.
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ultranemesys DerrickGibson
@DerrickGibson, That was a quik cycle... yeah the "best you can" because you think you have all the answers, it is a loop, you cannot see it from the inside: the fact that you keep on and on does not give you a hint? (the intrrogation was retorical, do not answer until the next cycle...)
Reply
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