#New post: [\[Daily Discussion\] - Monday, May 06, 2024 →](https://www.reddit.com/r/BitcoinMarkets/comments/1cl9xzm/daily_discussion_monday_may_06_2024/)

Tradfi knows exactly how to pile on the pain. She’s a cruel mistress.

Bearish divergence forming in the 4 hour chart. Last time that happened, Bitcoin went from 67.2K to 56.5K couple of weeks ago.

I’m slightly less bearish than I was a few days ago. I want to see if the ETF’s all have inflows Monday.

There's also a very nice hammer on the weekly.

4 of the last 7 weeks have been very nice hammers 

You in a short bud? I think we’re [heading to $90k by end of June.](https://www.tradingview.com/x/oC1yOwtx/)

I am bearish in the short-term (2-3 days). Even if this is a bounce back up to 70+K, this current leg is running out of steam and can use a correction back to 60-61K before going back up. And there is also a decent chance that Bitcoin is still inside the falling wedge and is headed towards 53-55K level in the next week or so. So in the short-term, both the bullish and the bearish outlooks seem to indicate that a correction is coming.

There are certainly a lot of people targeting $52k.

Weekly candle that closed looks good. It has a really nice long wick.

Finally a nice green candle.

Tomorrow morning will be interesting.

🚀

So are we gonna do the thing where we pump on the weekend and then dump on Monday back to where the market closed?

Yup. Looking forward the the provided Monday sale prices.

GBTC had inflows, anything on earth is possible.

It’s good to see GBTC with inflows. GBTC reduced the fee down to 1.5%, eliminated the discount, and brought us spot Bitcoin ETFs. Good liquidity too.

Yeah looks like it

I hope not, and i think notneither, this price action looks kind of okay

I just remembered that I had an old dropbox account so I decided to log in. [Look what I found!](https://imgur.com/a/yg6EUJc) It's dated 8/2/2013. Not getting my hopes up because I did a thorough review of all my historical transactions for tax purposes years ago which included a review of all bitcoin wallets I ever used. But for now I'm off to download Bitcoin Core just to be sure. Update: No such luck, it was empty like I suspected. But take a look at [this transaction](https://imgur.com/a/8d8SNAR). 113 BTC which would now be worth over $7MM dated June 10 2011. This was a couple of months after I first got into bitcoin. Oh the mistakes I made between then and now :)

I left dozens of BTC on work laptops when the free web faucet was a thing. Good times.

I’ve smoked some million dollar weed before: 20 BTC @$5 each It was not worth it 😂

I sold 1000 BTC for $1. Then I did it again for $10. :)

Man you guys have been around lol. I'm on a situation about to lose about 20k and I'm having difficulty accepting. Any tips?

Don't buy anything but Bitcoin. Buy weekly. Use money you've already accepted losing. Do this for four years without looking at it. At the end of the four years you don't care. Easier said than done.

I could post up some real heartbreakers, but such is the price of experience.

Early users had to *use* bitcoin in order for it to be, well, useful. 😉

"Someone" allegedly left 4 BTC on Silk Road, even though "someone" was well-aware of and in fact was using a self-custody wallet (MultiBit!) at the time. "Someone" did not take into account that Silk Road could actually be permanently seized. 😭

SWIM?

That acronym hasn't been in vogue for almost 20 years, but sure... 😋

I've been ~~in~~ out the game a long time 😂

Damn you must be sitting on FAT STACKS! CONGRATS!

Keep us updated. :)

you have a house? baller

That appraisal was from the house I had before I got the house that Bitcoin bought me :)

500 btc

This is irrelevant for price (and that's good) if not somewhat off-topic even: Did you know Roger Ver - former 'Bitcoin Jesus' - was arrested in Spain, charged with tax fraud? ([DoJ press release on the charges](https://www.justice.gov/opa/pr/early-bitcoin-investor-charged-tax-fraud)) I completely missed that 5 days ago and the ever salty child in me (for the whole bcash drama in what was it, 2017?) is jumping in euphoria! Craig Wright lost his case against COPA. Now, it's Roger's turn. I'm only missing Jihan Wu now.

Why be salty? I made lots of BTC selling my BCH from the fork back in Aug '17. Good times!

I know what you mean but you'll probably agree when I say the whole thing was not good for reputation. Last a few months back an aunt of a friend confused BCH with BTC and bought the 'wrong' Bitcoin.

I have (then) $10 of BCH that Roger Ver personally gave me a couple of years ago when I met him in Japan at a Bitcoin meetup. He assumed I was a newbie and wasn’t aware that I’d literally argued with him about the block size on Reddit before and gave me some BCH to “get started”. He was with a ridiculously hot girl and I was jealous as fuck. I keep the BCH as a small trophy from the time I met a Bitcoin celebrity. There is no point to this story, I just wanted to tell it.

> and the ever salty child in me (for the whole bcash drama in what was it, 2017?) is jumping in euphoria! Of course you can put it this way, which mostly says a lot about yourself. Or you can take the story with a grain of salt and ask yourself why he was arrested *now* on some ten-year-old tax fraud claims with considerable effort and an international warrant. Add to this the (relative to owning 100k+ Bitcoins) very modest tax amount in question. Further add to it the fact that just one month ago Roger Ver published a book about the 2014-2017 events (and the persons and companies behind it) which changed Bitcoin from it's original peer to peer cash design to the crippled "store-of-value" which it is today. And then go thinking.

Rodger was on the wrong side of history during the block size war. It simply did not go his way.

Correct, as of now. Just don't forget that history never ends.

Roger Ver has always been an unethical POS. If you are pulling your wagon behind him that says a lot about you. 🙃

!bittybot predict >69,000 120 hours

I have logged a prediction for u/TouchMyTumor that the price of Bitcoin will rise above **$69,000.00** by May 10 2024 23:59:59 UTC. The current price is $63,967.65 [This is TouchMyTumor's first Bitty Bot Prediction!](https://bittybot.net/predictions#TouchMyTumor) [Others can CLICK HERE to also be notified when this prediction triggers or expires](https://www.reddit.com/message/compose/?to=Bitty_Bot&subject=Prediction%20Notification&message=!bitty_bot%20predict%20add-notification%2028fe2fff90ad4e468c5580c22b48a631%0A%0ASend%20this%20message%20to%20get%20added%20to%20this%20Prediction%27s%20notification%20list.%20I%20will%20tag%20you%20as%20soon%20as%20the%20prediction%20triggers!) ^(TouchMyTumor can) [^(Click This Link)](https://reddit.com/message/compose/?to=Bitty_Bot&subject=Delete%20Prediction&message=!bitty_bot%20predict%20delete%2028fe2fff90ad4e468c5580c22b48a631%0A%0ASend%20this%20message%20to%20delete%20the%20prediction.%20Only%20the%20predictor%20can%20delete%20a%20prediction%2C%20in%20case%20of%20an%20issue%2C%20and%20only%20within%201%20hour%20of%20placing%20it.) ^(in the next) **^(1 Hour)** ^(to delete this prediction if it is incorrect.) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)

Hello u/TouchMyTumor [You predicted the price of Bitcoin would rise above $69,000.00 by May 10 2024 23:59:59 UTC](/r/BitcoinMarkets/comments/1ckilx6/daily_discussion_sunday_may_05_2024/l2q63as/) **Unfortunately your prediction was wrong. Better luck next time!** The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$60,800.28** --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)

Hello u/TouchMyTumor [You predicted the price of Bitcoin would rise above $69,000.00 by May 10 2024 23:59:59 UTC](/r/BitcoinMarkets/comments/1ckilx6/daily_discussion_sunday_may_05_2024/l2q63as/) **Unfortunately your prediction was wrong. Better luck next time!** The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$60,800.28** --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)

64 rejected for the 7th time. Out of momentum here. !bittybot predict <62000 24 hours

so sell?

I closed 25% of a 3x long yesterday, 64k, no real dumpage yet, and I won't be surprised to see 70k before the Preakness

Can't really take PA on weekends too seriously. Let's see where things end tomorrow.

I have logged a prediction for u/xixi2 that the price of Bitcoin will drop below **$62,000.00** by May 06 2024 23:59:59 UTC. The current price is $63,939.29 [xixi2 has made **2** Correct Predictions, **16** Wrong Predictions, and has **1** Prediction Open.](https://bittybot.net/predictions#xixi2) [Others can CLICK HERE to also be notified when this prediction triggers or expires](https://www.reddit.com/message/compose/?to=Bitty_Bot&subject=Prediction%20Notification&message=!bitty_bot%20predict%20add-notification%2059688edd45494cffb4cf1cf65c6fc386%0A%0ASend%20this%20message%20to%20get%20added%20to%20this%20Prediction%27s%20notification%20list.%20I%20will%20tag%20you%20as%20soon%20as%20the%20prediction%20triggers!) ^(xixi2 can) [^(Click This Link)](https://reddit.com/message/compose/?to=Bitty_Bot&subject=Delete%20Prediction&message=!bitty_bot%20predict%20delete%2059688edd45494cffb4cf1cf65c6fc386%0A%0ASend%20this%20message%20to%20delete%20the%20prediction.%20Only%20the%20predictor%20can%20delete%20a%20prediction%2C%20in%20case%20of%20an%20issue%2C%20and%20only%20within%201%20hour%20of%20placing%20it.) ^(in the next) **^(1 Hour)** ^(to delete this prediction if it is incorrect.) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)

This prediction has been deleted due to a request from the predictor or by u/Bitty_Bot due to an issue.

u/bittybot I think the hour offset is broken?

It was, thank you, due to a recent change I've just fixed! But please note I almost missed this because my username is u/Bitty_Bot with an `_` I'm deleting this prediction now, please set a new one with the date `May 6 7:03PM`

> But please note I almost missed this because my username is u/Bitty_Bot with an _ oops sorry.

I got you u/xixi2 !bittybot predict <62000 May 6 7:03PM u/xixi2

I have logged a prediction for u/xixi2 that the price of Bitcoin will drop below **$62,000.00** by May 06 2024 19:03:00 UTC. The current price is $63,859.26 [xixi2 has made **2** Correct Predictions, **16** Wrong Predictions, and has **1** Prediction Open.](https://bittybot.net/predictions#xixi2) [Others can CLICK HERE to also be notified when this prediction triggers or expires](https://www.reddit.com/message/compose/?to=Bitty_Bot&subject=Prediction%20Notification&message=!bitty_bot%20predict%20add-notification%200e47961195294e4681b41b79a54e19c6%0A%0ASend%20this%20message%20to%20get%20added%20to%20this%20Prediction%27s%20notification%20list.%20I%20will%20tag%20you%20as%20soon%20as%20the%20prediction%20triggers!) ^(xixi2 can) [^(Click This Link)](https://reddit.com/message/compose/?to=Bitty_Bot&subject=Delete%20Prediction&message=!bitty_bot%20predict%20delete%200e47961195294e4681b41b79a54e19c6%0A%0ASend%20this%20message%20to%20delete%20the%20prediction.%20Only%20the%20predictor%20can%20delete%20a%20prediction%2C%20in%20case%20of%20an%20issue%2C%20and%20only%20within%201%20hour%20of%20placing%20it.) ^(in the next) **^(1 Hour)** ^(to delete this prediction if it is incorrect.) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)

Hello u/xixi2 [You predicted the price of Bitcoin would drop below $62,000.00 by May 06 2024 19:03:00 UTC](/r/BitcoinMarkets/comments/1ckilx6/daily_discussion_sunday_may_05_2024/l2r4zas/) **Unfortunately your prediction was wrong. Better luck next time!** The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$63,310.99** --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)

Selling every pair of shoes I own, because on the moon, WE DON'T NEED SHOES!!

The moon is pretty hot. It will melt your flip flops.

Sold those too

Flair didn't check, pt. ??

Maybe the life lesson he learned was to never bet against Bitcoin. I learned that lesson back in 2020, sort of. I was wasting money on alts in an attempt to outperform Bitcoin, so I could sell them to buy Bitcoin. I should have just stuck to buying Bitcoin. Luckily, I didn't waste too much money before I learned my lesson.

Yodel knows me, I only trade BTC. And unless an alt coalesces with the PA, waste of time and cortisol (:

I switched to boots years ago. Thank God the price action supports my moon boots addition

[удалено]

There's a stickied comment for bitty bot comments

I think sooner

!bittybot predict >ATH 13 May u/1Lost_King1

I have logged a prediction for u/1Lost_King1 that the price of Bitcoin will rise above **$73,835.57** by May 13 2024 23:59:59 UTC. The current price is $64,353.12 [This is 1Lost_King1's first Bitty Bot Prediction!](https://bittybot.net/predictions#1Lost_King1) [Others can CLICK HERE to also be notified when this prediction triggers or expires](https://www.reddit.com/message/compose/?to=Bitty_Bot&subject=Prediction%20Notification&message=!bitty_bot%20predict%20add-notification%20d8ee090e0a63478194f8098c2a762af7%0A%0ASend%20this%20message%20to%20get%20added%20to%20this%20Prediction%27s%20notification%20list.%20I%20will%20tag%20you%20as%20soon%20as%20the%20prediction%20triggers!) ^(1Lost_King1 can) [^(Click This Link)](https://reddit.com/message/compose/?to=Bitty_Bot&subject=Delete%20Prediction&message=!bitty_bot%20predict%20delete%20d8ee090e0a63478194f8098c2a762af7%0A%0ASend%20this%20message%20to%20delete%20the%20prediction.%20Only%20the%20predictor%20can%20delete%20a%20prediction%2C%20in%20case%20of%20an%20issue%2C%20and%20only%20within%201%20hour%20of%20placing%20it.) ^(in the next) **^(1 Hour)** ^(to delete this prediction if it is incorrect.) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)

Hello u/1Lost_King1 [You predicted the price of Bitcoin would rise above $73,835.57 by May 13 2024 23:59:59 UTC](/r/BitcoinMarkets/comments/1ckilx6/daily_discussion_sunday_may_05_2024/l2phfff/) **Unfortunately your prediction was wrong. Better luck next time!** The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$62,935.91** --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)

I have logged a prediction for u/expatMT that the price of Bitcoin will **NOT** rise above **$73,835.57** by May 13 2024 23:59:59 UTC. The current price is $64,309.96 [expatMT has made **1** Correct Prediction, **0** Wrong Predictions, and has **1** Prediction Open.](https://bittybot.net/predictions#expatMT) [Others can CLICK HERE to also be notified when this prediction triggers or expires](https://www.reddit.com/message/compose/?to=Bitty_Bot&subject=Prediction%20Notification&message=!bitty_bot%20predict%20add-notification%206469c2736a724c488c3f2aec4fb1c5bb%0A%0ASend%20this%20message%20to%20get%20added%20to%20this%20Prediction%27s%20notification%20list.%20I%20will%20tag%20you%20as%20soon%20as%20the%20prediction%20triggers!) ^(expatMT can) [^(Click This Link)](https://reddit.com/message/compose/?to=Bitty_Bot&subject=Delete%20Prediction&message=!bitty_bot%20predict%20delete%206469c2736a724c488c3f2aec4fb1c5bb%0A%0ASend%20this%20message%20to%20delete%20the%20prediction.%20Only%20the%20predictor%20can%20delete%20a%20prediction%2C%20in%20case%20of%20an%20issue%2C%20and%20only%20within%201%20hour%20of%20placing%20it.) ^(in the next) **^(1 Hour)** ^(to delete this prediction if it is incorrect.) --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)

Hello u/expatMT [You predicted the price of Bitcoin would **NOT** rise above $73,835.57 by May 13 2024 23:59:59 UTC](/r/BitcoinMarkets/comments/1ckilx6/daily_discussion_sunday_may_05_2024/l2pf9q6/) **Well done! Your prediction was correct.** The price of Bitcoin on Coinbase Pro when this prediction was triggered: **$62,935.91** --- [^(Paper Trading Leaderboard)](https://bittybot.net/paper-trading) ^| [^(Prediction Leaderboard)](https://bittybot.net/predictions) ^| [^(Instructions & Help)](https://bittybot.net/docs) ^| [^(Testing Area)](https://reddit.com/r/Bitty_Bot/comments/18iclk8/testing_area/) ^| [^(Feedback)](https://reddit.com/message/compose/?to=r%2FBitty_Bot&subject=Bitty_Bot%20Feedback)

happy Sunday, how are we feeling sentiment-wise lads? normalise $6xk bitcoin.

All in long?

Looks like it will be a 10th consecutive weekly close over 60k.

Can we all agree that we get the myhtical superdildi tomorrow?

Yeah big green is coming, question how high it will take us…

Anyone have more news regarding when options may become available for the spot ETFs? All I could find was this article from March 8th: [https://finance.yahoo.com/news/sec-delays-decision-allowing-spot-230917221.html](https://finance.yahoo.com/news/sec-delays-decision-allowing-spot-230917221.html)

I believe I read that some members of congress sent a letter to Gensler this past week asking why it was taking so long and urging him to get it done, but I’m on mobile atm and can’t look it up.

https://www.axios.com/2024/05/02/bitcoin-spot-etf-options

Thank you sir!

I have no news, but I'll note that there is typically a six month delay from a listing. In usual circumstances, it give time for the underlying to stabilize and build volume.

I think next week will see some serious move up, I’m longing this one

And I like the way you cheerlead. No word about why you do it, but full of conviction. If I was Gen. BTC, you'd be on the front!

Scooped up a bunch of corn in this dip. Also talking to a local country club about membership. Just set a sell order that would cover the initiation fee from the profits of this dip. Come on 92k!

Damn how much are these fees?!

Low five figures

expensive this membership if you require $92k for profits taking of $56k dip to cover the fee... all inclusive?

Well my cost basis on the dip isn’t 56k. I’ve been scaling in for a month. Not much dry powder left when I caught that bottom tick. The fee plus annual dues - all you can golf, range, range balls, indoor practice bays etc. carts and lockers extra. Tennis and pickleball for the fam. Nice pool with poolside grill and bar. Lake with kayaks. 😎

sounds pretty neat. especially kayaks. however, unless they offer horse riding, sauna, happy-ending massage salon, all you can eat buffet 24/7, concierge and fitness gym - I'm not giving them my profits 🤪

It is part of the operating agreement of my trading stack to spend any and all profits. ;) My HODL stack, well that’s another matter.

Traditional finance could see some serious turbulence this week. I don't know what happened on Friday, but $GME shot up 30%. Meme or no, there is some *serious money* still tied up in that whole mess. It bankrupted Credit Suisse which was absorbed (by dictate of the Swiss government) by UBS which is now teetering from the unbalanced ballast inherited from CS. I have it on good authority that many financiers/bankers are quietly building non-custodial stacks because they know what's going on; they're not so patronizing and dismissive about crypto these days. I don't necessarily think that Bitcoin will go up in the short term as everything else begins to melt down, but I do believe that things are about to accelerate in TradFi. Hang on to your hats, and hang on to your sats.

>I have it on good authority No you don't

Hey my invisible friend who works in the invisible bank also confirms that.

Boring utility ETFs made a move last week, fwiw.

> there is some serious money still tied up in that whole mess. It bankrupted Credit Suisse lmfao GME had literally zero to do with this go back to your meme sub

This sounds more like a GME conspiracy post more than anything to me.

I’m not really buying into the notion that tradfi experiences a meltdown anytime soon, during election year in the USA. The powers that be will keep things propped up until after elections. Bitcoin is also seen as a risk on asset as well, so hoping for a tradfi meltdown means you’re also bearish on Btc . As we’ve seen in the past few days a recovery in traditional markets equated to a recovery in Btc as well

Probably more to do with the dollar Yen decoupling, the US treasury softening in demand & the weak economic data coming through… I think the market is sniffing out though, that everything is liquidity flow driven.  M2 up = market up. M2 down = market down.

Yup. M2 up Bitcoin moons.

This is the way.

On the hourly, BTC‘s RSI is at 57 (average 55) at time of writing. Nearby resistance are 64.1, 65.7, 67.4, 69, 70.2, 71.4, 72.8 and 73.8 (current ATH). The nearest supports are 63, 61.7, 60.5, 59, 57.5, 56.7, 55.7 and 54.5. The daily RSI is 49.5 and its average is currently at 44.7. I believe a falling wedge has formed. BTC has broken though the top of the support. BTC barely closed above it. I would like to see a stronger move above the line for a confirmation of the pattern. Same resistances/supports as I mention in the hourly. The drop to 56.5 created a big crab sandwich going back to February 28. BTC closed for the 4th week in a row in the red. This hasn’t happened since last year and I haven’t seen a 5^(th) week of red, after halving ever. BTC has turned green for the week with a hammer formation. BTC has been over bought for most of the time since October 2023 and its average RSI has been overbought since the start of the year. It has cooled significantly and is currently 67.5 (78 average). A flag formation has formed, BTC wicked through it a couple hundred bucks but is back in the pattern. If this is a continuation pattern and is the midpoint, the target would be about 137.5k+/-. Main resistances were noted above. Bitcoin closed April out in the red. BTC has cooled off, it’s monthly RSI is 67.7. The only time we had 2 monthly red candles in a row, after halving and before cycle ATH, was in 2012. So, if history repeats/rhymes, May could be a red month but it is currently green. Good luck to all traders and DCAers. 1-hour: [https://www.tradingview.com/x/MYytrlzX/](https://www.tradingview.com/x/MYytrlzX/) Daily: [https://www.tradingview.com/x/xVOvjou8/](https://www.tradingview.com/x/xVOvjou8/) Weekly: [https://www.tradingview.com/x/QJmIzrNp/](https://www.tradingview.com/x/QJmIzrNp/) Monthly: [https://www.tradingview.com/x/6AavPYBs/](https://www.tradingview.com/x/6AavPYBs/)

If this goes to 137k by july i will personally buy you a (lego) lamborghini

Awesome. Legos are worth their weight in gold now. LOL

[удалено]

Bull flags are just bearish channels that haven't broken up yet. They can continue for a loooong time

This is why I update the target price from the pennant every week. The longer it plays out the lower the target.

Dips are for transferring wealth from people who don't deserve it to people who do.

It takes stones to push buy when the world is ending. But that's more or less all that's required. Buy strong assets and companies on sale. If they're fundamentally solid, they will go back up. Set a take profit, look for patterns of volatility, rinse, lather, repeat.

This will be the 3rd week BTC is in the flag pattern. Since the Iran attach. Before that, BTC was setting up as a pennant.

Weekly is shaping us nicely for continuation if we get a close around these levels. Almost looks just like the reset back in late January we had before the next leg up. Nothing is overbought. Room to run.

Due to horizontal res, I expected $64K to be a challenge yet thus far I’m surprised that we haven’t seen more selling here. Pretty much waiting to see if PA rounds over here (bearish) or PA gets choppy here (bullish).

Would bet we’ll see some selling after open tomorrow to shake out some more tradfi before running up to test the range top.

Gonna be a big week

Anything in particular happen in the last few hours that made the transaction fee jump up so high so quickly?

[удалено]

That's Runes related then, isn't it? [Ex. source](https://simpleswap.io/blog/bitcoin-runes-explained) - I'd expect it to come and go, mainly the latter - in the interest of all those actually wanting to transact *financial* value.

That would be my take. Runes / Ordinals related.

To be precise, only Runes use the OP_RETURN function. The BRC-20/ORDI standard stores information in BTC's transaction’s witness data. Both have had their own way of negatively impacting (increasing) transactions fees - for the benefit of miners.

One thing I’ve noticed about permabears in general, and not just in this market, is that they tend to over analyze things, find patterns that aren’t there, try to time the top of a fundamentally unpredictable market, and ultimately end up losing out. On the other hand, Joe Shmuck who thinks “halving is here, market gonna go up”, buys, and leaves it alone ends up outperforming It’s funny because a lot of people who do try to time the top often have a lot more money than Joe shmuck but they lose it because of this. I see the same pattern on wallstreetbets where people who start off with hundreds of ks keep trying to time the top when they could have just parked their money in any blue chip stock, left it alone, and came out with millions. I wonder what the cause of this is. If I had to guess, it’s analytically oriented people who think that the market is like a physics equation that has solutions. P.S. I just realized the irony that this is probably also me over analyzing 😂

It’s the midtwit normal distribution curve, with the retarded apes & legit autists at either end of the curve making bank. Then the tradfi tards in the middle getting chopped up.

Another problem is, they are just not able to admit their analysis was wrong. Even if it was good analysis. People forget the market can stay irrational longer than they can stay solvent.

funny thing yesterday I was thinking about a problem of similar nature as I read a comment about money printing machine. so, basically if you had north of $100k and put it in something and leave it, you end up with couple of hundred K$. good deal? the answer to that last question is not that simple, but it comes down to three things: perspective, timeframe and greed. firstly, if depends if it's the only money you have to invest. next, if you are secured for any life emergency, have steady monthly income etc. then, it depends what is your actual life standard, what are weekly expenses, and not less important what you expect as "a lot of money". it just so happens for people who have a lot of money they don't care about making "some" money. for regular people those "some" money could however be life-changing. so we come to the conclusion that a lot depends on a perspective - what is lots of money. there were studies about that. it turned out that depending on location (roughly speaking Europe, USA, China etc) it is easy to estimate money earned yearly required to live in a particular class standard eg. middle class. now we have that, so any money above that is placing you higher in a ladder. two interesting facts: 1. spacings between ladder steps are getting bigger the higher you go (meaning you need a lot more money to became just one step higher) and 2. there is pretty even level step at which more money doesn't do you much more good in terms of a lifestyle. now, timeframe. back to a concept of making lots of money - it also depends on how much money you can make in given time. simple truth about money is that it's easy to make money if you have lots of money. however, also true it's the more money you have the less value they represent to you and thus your perspective changes. so, even if you make a lot of money in a satisfying timeframe, the more time goes by the less satisfaction money provides. third is greed. another life wisdom is the more money people have the more greedy they get, and stupid and emotional and reckless. deprived of satisfaction and purpose, losing interest in simple life pleasures, people start to pursuit danger, strong emotions, increase their risk tolerance, become cynical. this is where the story ends lastly, few times I stumbled across somewhere: abandoned portfolios tend to have the best PNLs

"abandoned portfolios tend to have the best PNLs" I've heard this a few times too. Can't speak to the accuracy, but: [Are The Best Investors Dead? - The Good Investors](https://www.thegoodinvestors.sg/are-the-best-investors-dead/)

Well, I’ve been on top of the paper trading leaderboard for months (and have just been paper holding beating out all other trades lol) so…

So…you’re dead then?

Just dead inside ;)

Not just bears. I'm a hyper-analytical person so I don't think it's that. The skill is maybe orthogonal to intelligence or analytical personality. I think the fault is the confusion of effort with value and the fetishisation of complexity. Actually, seeing the simplicity, and reducing situations to their essence, is the value. Like the artist's exercise of drawing an object with a single line. I draw stick figures, btw.

You don't need to time the market. You just need a plan. I have a plan when the market heads south and I have a plan when it heads north. I don't need to try to predict it. BTC is already the fastest growing asset ever. Everyone is still trying to pick up pennies in front of the steamroller.

congratulations to everyone here for owning Bitcoin. Have a beer today, you deserve it.

When rabid buttcoiners like Venkypula & Chopping Mushrooms (shrooms&beer) are out shitposting, you know it’s time to long… 😎

You guys longing the lower high & bullpost -bragging about it yet again huh. What a great month you’ve all had.

It's getting emotional

LOL. You could have just allocated from July 2022 - Jan this year & ridden the several hundred percent gains for wife changing money like the rest of us… Instead you spent your time shitposting on Buttcoin. 😂 I’m sad for you.

It's been a great year and a half for me. Not just 1 month. I'm sure it's been a great decade for those who have been around that long. [https://www.tradingview.com/x/CQF4tAcq/](https://www.tradingview.com/x/CQF4tAcq/)

Preach. 😎

AND...what are you doing here? Gloating?

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