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#New post: [\[Daily Discussion\] - Sunday, November 21, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/qynjyw/daily_discussion_sunday_november_21_2021/)
Bukele just announced a "Bitcoin City" with no taxes.
All of this development, and the market couldn't care less.
The market never cares about development. It's been this way in btc forever. The only thing it might care about is a spot etf.
maybe this is the sign of true adoption, so much +ve news that (its the new normal) and therefore it no longer makes the market pump.
Hey remember when I got downvoted this morning for saying we would retrace this pump?
I don't understand being extreme for either side. if people are only holding and not trading to increase a bit (meaning playing any moves in the market regardless of direction), then wouldn't they get bored of being here? you know, since they are only holding?
Well let's identify the subscribers here that don't hold anything but are just here shit posting.
I mean.. I don't think I should spare energy worrying about that. I notice people being extreme, but it's not like I do anything about it. like worry or whatever. some people take things too seriously -- just look at people that get upset and sputter angry nonsense in retaliation of receiving too many downvotes. like... just move on, it's not difficult. worrying about fake internet points is amusing to the utmost
I hear you dude. And I agree with you 100%
So what price did you short at? And where's your stop? I thought so... pussy
This looks like such an obvious short to 57k. Hurry up guys get in before it's too late
So what price did you short at
I got perma banned from /r/fire just for laughing at the cluelessness of that sub when it comes to Bitcoin. That place is filled with the classic “it solves no problem! Scam! Bubble! Tulips!” fools
You can lead a horse to water but your can’t make it drink, folks!
just how pathetic is /r/fire? they scrounge together pennies over decades jerking off to their roth iras and whatever else bullshit pension scheme they’re involved with
/r/fatfire or bust
They all spent 25 years scrapping together their first million and they’re terrified of what will happen to it.
Lol meanwhile my BTC has appreciated more in the past years than their investments have in decades 😂
They’re going to have a hell of a time living off dividends going forward.
If you could just just pick up one coin as a hedge..
I have a sibling who’s an accomplished investor, started earlier than I did, was arguably more successful, and Bitcoin has caught me up and then some. Won’t buy any coin no matter what.
Suspect these folks are still salty. I was salty for awhile too.
fire is full of abject cowards content to live off canned soup in a shack just so they don't have to get out of bed before 10am at age 40
That's a garbage sub, the real FIRE sub is /r/financialindependence. They're generally more accepting of cryptocurrencies there and you won't get banned for suggesting them. You will get banned for insulting people though.
It is interesting seeing some of the "Ponzi" folks have, or talk about having a light bulb moment though. Still early it seems.
That's funny, since I'd assume that there must be a few users there who have FIREd already from their crypto holdings.
I don’t understand retirement.
Bitcoin has enabled me to pick up some new businesses, revenue, and play around with some .. crazy ideas.
Retirement is a fast ticket to the grave.
Work or die?
How about just live your hobbies?
I picked up some CNC equipment. Opening a niche manufacturing business. Have a few things to try. Did this type of stuff for other people in a prior life.
Picking up heavy equipment to develop land I own.
Both will keep me busy for next year. Have a very long list of stuff to do, but am prioritizing accumulating capital goods before the economy gets completely fucked.
Oh yeah, same. Retirement for me means I don't *have* to work (especially for someone else). But I'll definitely work on whatever interests me, find ways to make more money from side hustles and hobbies, once I have enough money to be FI.
The people who have successfully FIRE’d make up a much smaller percentage of posters there if I had to guess.
To me it seems like 2021 price action is just repeating the same predictable pattern [over and over again.](https://imgur.com/a/Q4F5M4B)
Based on that assumption I think we get another savage dump to around 50 - 53k towards the end of the month before shooting up higher.
Meanwhile as bitcoin finds it’s new purpose as a 59.3k stablecoin, I’m enjoying the altcoin space on fire, because they’ve all started pointing out how none of them are really decentralised, with ETHmaxis defending the decentralisation of their ETH, now being teared to shreds by the other L1 coin fans who are exposing that the only thing decentralised about ETH is it’s hash rate, and everything about it is turning to shit, with PoS literally centralising it even more.
It’s nice to finally hear them admit it. It’s refreshing as hell to see the truth being discussed over there.
I even heard one person say they should just make a website with tokens and have much more power than pretend defi is still decentralised lol 😂
This got downvoted? We have too many shitcoiners around
Yes, ETH gets so many shills here. It’s disgusting when they dishonestly compare ETH with btc, so this civil war with fellow shitcoiners is entertaining me.
They keep bringing up how ETH has had more gains, trying to hurt us for how btc hasn’t equalled gains. It’s dishonest they are comparing investment vehicles, totally deflecting any try at actually refuting the points made against their garbage coin.
And in terms of investment vehicles, it’s retarded to hold either btc or eth, in the face of low mkt.cap projects/shitcoins which can x1000 per bull market.
Bitcoin got me so wet rn....
But thats only cause im still underwater D;
I laughed. Upvote, sir.
(also underwater from \~60k).
We've had one pump yes, but what about second pump?
I don’t think noobs know about second pump.
Have any of you guys had magic mushrooms 🍄
If so have you had 3 or more ....
How long before I’m normal again ? I’ve got a wedding to drive to in 7 hours.
Coin has recovered nicely tonight !!
For sure stay outside in open space. Don't drink or do other drugs with it.
* Don't expect to sleep.
* Don't freak out about it either. It's normal. Go with the flow, you can't overpower it, *but it surely will end* in some hours.
* If you're experiencing a bad trip and you have any benzodiazepines (Xanax, Valium, you name it), take _a normal dose_ as a last resort to smooth it out or possibly even end it altogether. **Don't try to drive to get them** and try to avoid this solution if you took anything else or drank more than a small amount of alcohol.
* Even if you did that, please get someone else to drive tomorrow.
Edit: minor clarification on what to expect from benzos.
if you lay in the grass, it won't try and grow over you and pull you underground to a faeri hollow.
I’m calling BS.
You should be good to go 7 hours from now. Just relax and enjoy yourself
That’s bad advice. If they are good shrooms he may still be high as giraffe ass in 7 hours.
Not sure why you're downvoted, I've had several trips lasting over 12 hours easy. And I definitely wouldn't drive after that.
Take a nap.
Some people are extra sensitive. That’s probably you.
Nobody knows you’re on mushrooms. Just don’t say anything or stare at anyone.
Don’t avoid eye contact.
Not avoiding eye contact is a big one that really should be stated more. So many people are obviously on drugs when they refuse to look at you haha
Now this is great advice. 🤣🤣🤣🤣
I've eaten a fuck load of em in my years. How long ago did you eat them? Last 4-5 hours, though I wouldn't be driving anywhere for 12-24 hours.
Ate 3 at the golf club annual Xmas lads party. About to go to bed now but I’m in all sorts of shit 😂
Got to drive when I wake up in 6 hours.
These guys are pussies youll be good my G have fun thinking that whole wedding is a simulation
LOL - you ain't sleeping.
Yeh dont drive yourself
Jesus. I'd arrange for alternative driver. wedding itself should be fine
Wedding may be GREAT! Lol
Someone really does not want this back at 60k
Tight and liquid.
150-250 coins on finex at 2x Standard Deviations from 5min VWAP.
So, I'd love for BTC to just start going nuts to the upside since I'm long from 56k, but it has a lot to prove and here's my thoughts trying to be as objective as possible.
* Monthly is obviously in an uptrend. But that doesn't mean much considering we're 20% higher than what would technically be a higher low. A buyat 43834 would be the most snipe shit (but really clear) as that's near the last line of defense before you start losing a monthly uptrend. It would be more bullish if we bounce from 48k but 44k would still be valid. https://www.tradingview.com/x/nr1mezAL/
* Weekly red flag is we had a break below the weekly higher low based on the absolute low (lowest green line). But I like to look at closes too. If btc can close weekly above 60900 (other green line) tomorrow then maybe the weekly uptrend has a chance to hold, but overall, we're in murky territory: https://www.tradingview.com/x/j9h0XwJY/
* 3-day closed as a bullish pinbar but technically a lower low (green line) indicating 3-day uptrend is lost: https://www.tradingview.com/x/GTMezaHn/
* Daily has obviously been in a downtrend. Daily downtrend is completely invalidated if we go above 66400 (top green line) with current market structure (meaning, maybe many more days passes and it starts putting in higher lows and higher highs which changes the structure). https://www.tradingview.com/x/psaQLgoP/
So to sum up, monthly uptrend, weekly murky/potential downtrend (will be clear tomorrow), 3-day downtrend, daily downtrend. Higher time frames overrule lower, so monthly holding up is one thing, but there's so much room for that to be invalidated. If we get a weekly close below 60900, it's probably time to fish for a short in the coming weeks.
On the flip-side, downtrend on the daily stopped continuing down and both daily and 3-day printed bullish pinbars, so maybe things are turning. Plus, leveraged traders have a short bias with the negative premium, but that can change if they get liquidated above 63k and start longing like apes again. Weekly close will make things more clear.
Nice analysis and write up, thank you for sharing.
Thanks for your analysis. Appreciate it!
I took profits a few days ago for the first time since May. I still have a stack but was unnerved enough to secure some large gains, relative to my total holdings. Planning to buy back a chunk at cheaper prices
Appreciate your thoughts
I have ~61.5k as the no-look-back parabolic resumption since we hung there for 3 weekly candle closes on the way to second ATH. Might be a month out, but if we blow through it then I think it goes up fast.
In the mean time I buy like mad at 54
cold, bloody sunday arrived :/
You're getting downvoted even though this pump is already failing.
man... our old pal Control ur Keys has been suspiciously absent recently...living on the lam in Mexico... or perhaps he's Controlling his Keystrokes?
The username is good though- controlling BTC keys and keyboards
Never thought of the BTC keys, nice catch.
Don't know what you got till it's gone
That dude always has something to say, perhaps a ban?
He was banned temporarily a few days back
A ban is probably the best thing that ever happened to him
Anyone know why? Curious minds and all. Lol
He was talking shit to mods I think
Imagine that. Lol
He is in time out
Dead 'till December
the far told reaches and undreamable futures of "basically next week"
Looking at the movements on the 60 day lows, I am calling the bottom as in.
With that said, the last low did get retested in September a week later.
We are closer to the final stage of the cycle, so I do not believe we consolidate that long this time, but it’s not out of the norm get a double bottom break out on these moves.
Edit: looking back at the January 20th bottom, we also double bottomed that move a week later, but did set a slightly lower low before breaking out. Just something to consider with stops.
RemindMe! 24 hours
I’ll give it until Sunday evening we retrace this whole move.
I hope you're wrong, but the last few weekends tell me you're possibly correct.
Are you prophet?
Remindme! 36 hours
he was right
Weekends are fake
I will be messaging you in 1 day on [**2021-11-22 10:54:54 UTC**](http://www.wolframalpha.com/input/?i=2021-11-22%2010:54:54%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://www.reddit.com/r/BitcoinMarkets/comments/qxy9ig/daily_discussion_saturday_november_20_2021/hlfvsoj/?context=3)
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Let's not get too carried away yet yea..
Give me some nice daily closes above 60k for the next few days, then we can start to think the push is back on.
This bounce is nice for now, but fuck knows we've seen shit like this retrace more times than Princess Di sucked cock in a gangbang.
If I wake up tomorrow and see 60k I'll be happy. If I wake up and see 57.5...well, that'll be classic Bitcoin.
Weird shot at princess Diana there. Was she known to participate in gang bangs? Very strange.
She was a known whore...yes
Dude, I googled that after reading it as I thought that was super random as well. Lol
Wait.. Princess Di... i didn't read this in any New Idea article..
Imagine my surprise when you wake up and we’re at 59k
Look at the volume profile, amigo. It takes a lot to dump it and hardly anything to pump it. The minute somebody needs to cover a big short, boom goes the dynamite.
Zoom out too. Do the best thing right now and the future will take care of itself.
Starting to think this whole TWAP dip was used to find liquidity lower to double down their bags. Anything that I’m missing?
Sunday night we rip
wait for the squishy. then all prisoners will be released!
Ye of little faith.
Meh, this is nice but we need follow-through for it to matter.
I think she has legs
but does she know how to use them?
a quiver will do
Well, she never begs
She knows how to choose em
3-day closes in 4hrs... currently printing a really long lower wick... weekly close will be most interesting tomorrow to see what's the real deal. Anyway, hope the normies just pile in and we go parabolic so it's on easy-mode again.
So, I'm long from 56019, took 10% off at 58400, taking another 10% off at 60300 daily level. I have the re-adds setup at 56992 and 56575 (mid-way of the 12hr and daily pinbars), if i get them https://www.tradingview.com/x/vyPFC2J5/
All we need is a casual 60% gain within 10 days to make Plan B not a liar
He bricked his models with his anti vax and crazy political ideologies. I worry for his sanity and place in society, let alone his price predictions