Bitcoin Price Thread

I would'nt even look at a long (BITO) unless it actually completes a double correction.

 

Just use RSI divergence.

 

A few possible answers:
https://cointelegraph.com/news/bitcoin-etf-inflows-price-stagnant-crypto-traders-analysis

 

If you guys spent half as much time learning TA as you do on meaningless after the fact news you'd wouldn't be so shocked by TOTALLY NORMAL price action. lol

 

Its a good article actually.

I personally feel the ETF's are the major driver at the moment,but I also agree with this excerpt:

However, analysts say many other factors impact the price and that the ETFs don’t have enough clout.

“ETF flows are fantastic, but they are not strong enough to exceed the entire ecosystem selling (yet),” Capriole Investments founder Charles Edwards told Cointelegraph.

“You do realize the market is made up of spot, futures, ETFs, and options, right? Price at any point in time is a product of all of these, not just one of them,” crypto trader Christopher Inks wrote in a June 7 X post.

“ETFs are important, but the price of BTC is more heavily influenced by macroeconomic factors and geopolitical events,” cryptocurrency exchange co-founder Radar Bear explained to Cointelegraph.

Also,also agree with wxy that the current price action looks pretty tame when you zoom out a bit.

 

I say Dogecoin because of the (insane) conditions; the GME and all other nonsense. I think the macro conditions are good.

BUT if Bitcoin tanks, DOGE will get even more gutted. So in that sense the conditions are NOT good. It just has potential but currently not looking good.


Tether fraud is getting banned in 20 days for all European users as they can not comply with most simple rules.

Tether Banned in New York, banned in Europe.... When is the US going to take the action and actually shut them down and make an end to this entire crypto ponzi scheme?

 

I see.

Do you have any doge?

 

Or how about Bitcoin hodlers that changed to Bitcoin ETF hodlers.

 

After the 2nd day FOMC meeting, bitcoin usually goes up and this mini-crash will be forgotten

 

It's doing the exact same cycle that it did before there were ETFs. Go look at the Bitcoin cycle chart. Price moves in cycles and the news will generally align with those cycles. It's kind of like the chicken and the egg thing but definitely the chart comes before the egg in this case. Until we break the .5 fib this is all a big nothing burger....if it breaks that level then it wouldn't surprise me if some "bad" news followed to facilitate the correction.