🏷️ $40k Test Incoming 🚨 \ stacker news ~bitcoin

345 sats \ 15 comments \ @Anonymous_Hodler 22 Jan bitcoin

First time since last December 4th Bitcoin trades at this level. Let see if markets want to make it a support or amplify the correction to the next support @ $38k with a big long candle… Not much to happen in between in my opinion… What’s your take on that test?

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31 sats \ 3 replies \ @harrr 22 Jan

What’s your take on that test?

1 BTC = 1 BTC

1 sat \ 2 replies \ @Anonymous_Hodler OP 22 Jan

1BTC = 1BTC in the bitcoin world… but we’re not there yey, right…

0 sats \ 1 reply \ @harrr 22 Jan

I am, have been for years, just stacking sats.

0 sats \ 0 replies \ @Anonymous_Hodler OP 22 Jan

Are you paid in ₿? Paying bills in ₿?

40 sats \ 4 replies \ @Undisciplined 22 Jan

I'm not much of a technical analysis guy.

I did want to gloat about correctly predicting a dip back below $40k in a SN poll a few weeks ago.

I think this has more to do with the shrinking supply of USD than bitcoin specifically.

280 sats \ 3 replies \ @Anonymous_Hodler OP 22 Jan

I can’t help to think « who in the world has an interest in low prices? » . Obviously the people that want to buy BTC. I feel like buyers are holding their funds as long as they can because the gbtc bleeding still has some momentum…. The consequence is that the first spark could ignite everything really fast… and You would expect some of the middle east countries and monarchies to step up sooner than later…

51 sats \ 2 replies \ @Undisciplined 22 Jan

Like I said, I don't think it's primarily even about bitcoin. Dollars are appreciating so people are using them for other things than buying bitcoin. Also, we're probably entering a recession, so people aren't going to be adding to their savings/investments as much.

280 sats \ 1 reply \ @Anonymous_Hodler OP 22 Jan

That’s when i want to be a contrarian… i also think gbtc and usd are not the only factors. Greed from extreme traders with crazy leveraged positions got wiped out everyday too…

10 sats \ 0 replies \ @Undisciplined 22 Jan

By all means, keep on stacking. I'm with you.

There are many factors, but I try to focus on a small number of the big ones. If those big factors seem to contradict something, then I'll look into it more.

10 sats \ 2 replies \ @_stacktoshi 22 Jan

Cheaper sats!

Unless a majority of economic actors decided to go against their self interest, I'd say Bitcoin's fundamentals still look sound and this sell pressure is most likely coming from GBTC exits

32 sats \ 0 replies \ @Anonymous_Hodler OP 23 Jan

Also looks lile FTX had a major role in lately price movement by dumping $1B worth of GBTC…

0 sats \ 0 replies \ @Anonymous_Hodler OP 22 Jan

GBTC probably has a major impact on the trend. Wondering at what price the big players will think the discount will be enough the reverse the momentum… you already retraced 50% . I guess the next level to look at will be 62% and $34.2k … it s big gap…

1 sat \ 1 reply \ @kytt 22 Jan

My deliberately honest take is: who fucking cares?

Either my fiat-denominated wealth increases or I get.to buy more sats per X amount of fiat. Either way, I win.

0 sats \ 0 replies \ @Anonymous_Hodler OP 23 Jan

Interesting point of view. I wish I was as zen as you seem to be :)

0 sats \ 0 replies \ @Anonymous_Hodler OP 23 Jan

Direction EMA 200 now?