Bitcoin to fall off cliff?

Price action is quite prejudiced, its like explaining physics laws with philosophic thoughts - getting explanations which are not applicable in daily tasks. Most of price action is as good as technical analysis - explains all but in aposteriori

What?, Price action is Technical analysis, it is the purest form of Technical analysis, All indicators are just math equations based on price action

a little pullback after topping $7,600, I will take it. Look for another surge prior to the Nov 16th fork

Yes I know about retracements - How far do you think it will go ?

I’d appreciate a little more nfo about “the fork” :slight_smile:

On the “Going Offshore …” thread, Hyperscalper posted a link you might be interested in –

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Litecoin up breaks out of 3-week consolidation with a 15% one day move. I am not seeing any news on why

Litecoin spike do to South Korea, full story at link below

https://www.coindesk.com/litecoin-price-looks-northwards-amid-korean-volume-spike/

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Thank you @Clint :sunglasses:

down day for Bitcoin but Ether and Litecoin are at 3 week highs

I think Bitcoin will go more up, maybe soon it will cross 8k. What is your analysis? It will go up or will down soon??

Big selloff this week after big buy move, strong support at $5,000 don’t know if we get that low but I will be a buyer if we do

I can’t tell from the picture - is that an engulfing candle or not ?

Yes it is, and it should chase some of the scared money out of Bitcoin.

Another all-time high for Bitcoin as money comes out of Bitcoin Cash and back into Bitcoin. Crypto Market cap holding steady at $225 Billion

Bitcoin is not falling any cliff, it is getting closer to the 8,000 leve. There it may have a profit taking pullback like it always does, but the trend is still bullish.

I can’t tell you when, but I absolutely guarantee it WILL ! _

Yes I understand the speculators betting it up - but I have yet to see any ex-planation of why it has any intrinsic value at all !

Gold has some scarcity value, “money” is issued by banks, but recent experience demonstrates that Governments will go to extraotdinary lengths to take money out of OUR pockets to “Cover up” the banks fraudulent activities.

I can’t see “The Fed” bailing out bitcoin :slight_smile: in the same way.

What exactly has Bitcoin got to offer ?

1.It is a means of payment without going through a bank
2. Unlike fiat currency, there is a limited supply
3. It is a form of stored wealth

No one can know what the future of Bitcoin or Cryptocurrencies will be. As a speculator this market is just getting started, My small investment has returned 10 times just this year, and with my original investment pulled out I can sit back and enjoy the ride risk-free.

All of those things used to apply, the same as they do to REAL Gold (NOT “paper gold” )

However who “Spends” Bitcoin nowadays ? Anyone who really has some will either just be hoarding it and watching the price rise or will have sold it months ago for the cash. The points you mention are now all superceded by the fact it has become a bubble and has no real value any more.

You yourself keep saying you have had your money back out now, so you are “Risk free” - so it seems you do recognise the underlying impossibility of the price maintaining it’s rise.

It’s a shame because I like the principle of Bitcoin, but I suppose it is better for the “Powers that be” that it should evaporate in a meteoric rise and bust, destroying confidence in all similar items, than to make it illegal and push it underground.