When Goldman Sachs calls a Bitcoin breakout you can be sure it is time to sell!
The above two films are the latest from Sunny Decree, a swiss trader I enjoy following on YouTube. Hit the image to get to his channel.
In reality Goldman Sachs distanced themselves from the bullish prediction given in a weekly package sent out to clients, despite the fact the analyst who created the package works for them! They clearly state in this Bloomberg article it is "not an ‘official view’ of Goldman Sachs” even though the weekly send-out is designed to highlight market trends to watch out for.
Makes me wonder why people would sign up for a weekly send-out from Goldman Sachs if it is not their official view?
A clever little move to leak news of a breakout while keeping their distance from what they knew was about to happen.
Perfectly on cue Bitcoin falls dramatically, down 15% in the last two days.
I wonder how many people bought Bitcoin based on the news the day before the drop? A great way to break the spirits of any new investors out there!
Sunny Decree is calling out $8000 as a worst case scenario, because as all decent Crypto YouTubers know, you cannot be bullish all the time and you are far more likely to buy respect if you can anticipate the lows as well as the highs.
There is evidently strong resistance at $8000
My personal feeling is the natural flow will see us bounce at our current level.
Only question is... are we watching natural flow or a manipulated price?
Knowing that Goldman Sachs are in on the game and evidently taking advantage of some great short positions during this furious downtrend, it is a bit is hard to know with certainty what Bitcoin will do next.
We can at least console ourselves with the knowledge that market manipulation is expensive and eventually the natural growth will be unstoppable.
No way it will go to 9k again
I agree. Think that really was the last change to buy under 10k!
I've always said that Bitcoin is so volatile that you could make serious money buying and selling it on a day by day basis. I mean you'd have to have serious balls though because the price seems to do what it wants...
Cryptos do whatever the puppet masters make them do. Sort of like Steemit!
Yeah, don't really know what is happening with Steemit to be honest. It has been dying a slow death over the last 18 months. Maybe it will have a resurgence, but I don't see it happening anytime soon. If you were to 'dip your toes in the water' so to speak, I would go with Bitcoin as opposed to Steem...
Well I dipped my toes in the water and did well in 2017, and I've still hung on to some dregs that might go up one day, but it's good to keep in mind that we are hanging out with the world's biggest scam artists, when playing with cryptos. Steemit was pretty cool in 2017 too.
You and me both! Still hanging on to a few which were doing well in 2017. Not sure yet how all of these mini investments will turn out...
Good to see you again here. Feels like its been ages!
It has! - I'm copying some of my old Steemit posts over to my blog that were missed out at the time
http://www.frot.co.nz/design/steemit/fools-gold/
That is a very good point. I also have some that I consider play money if it goes to next to nothing then no big deal, but if it goes back up to $6 a coin again then it would be a huge bonus. We'll see what happens in the future...
Steem - glad I sold most of mine at $1.50 but wish I'd done that at $6 bugger it... (sound of $70k going whoosh)
I don't expect it to ever go above 50 cents again.
$70k??? Painful... It's all play money anyway and an arbitrary number. At least you got most of yours out though; I took some of mine out when it was at $4. I should be thankful I got some out, but instead I think about what could have been. Isn't it strange how the mind works?
Steemit may yet have its day. Just hang on in there. But do spread your assets if you can. I have a little BTC and I ain't selling ;)
It would be foolish to get rid of it now; it is virtually worthless compared to 12-18 months ago. You might get some people panic sell thinking it may go to zero - and they could be right - but I didn't invest any money here, so I'm happy to leave what little I have in case it goes back up again
Right now I wouldn't dare trade it, though my gut tells me the only way is up from here.
It seems highly unlikely we will dip below 10k again.
All bets are off when it comes to Bitcoin. It has gone below $6k before and it probably will again. Will it go up to $20k within the next year or so? Nobody knows. But if someone has that killer instinct they could buy and sell it on a daily basis until it decides to calm down (if it ever does)
yeah the bulls are the big manipulators in this one..but when talking about who owns the most btc, btc is then one of the most spreaded ones in different hands, and that will always help...
Im waiting for the 8000s for some more buy orders and then it will be sit back and relax I think ;)
I am imagining the only way is up from here. Like I said, it is expensive to manipulate markets and eventually the natural growth will resume.
They must already be spending a fortune propping up the conventional market!
When you hodl, you have nothing to worry in the short term.
Absolutely right. Assuming you are not hodling shitcoins.
Most of my bags are still as they were back in 2017