[Daily Discussion] – Saturday, June 18, 2022

Thread topics include, but are not limited to:

  • General discussion related to the day's events
  • Technical analysis, trading ideas & strategies
  • Quick questions that do not warrant a separate post

Thread guidelines:

  • Be excellent to each other.
  • Do not make posts outside of the daily thread for the topics mentioned above.

Other ways to interact:

Get an invite to live chat on our Slack group

[Daily Discussion] - Saturday, June 18, 2022

50 thoughts on “[Daily Discussion] – Saturday, June 18, 2022”

  1. What’s the best indicator apart from moving average that gives you idea about past price action ?

    Edit: I need something like moving average but better?

  2. I think it’s safe to say that this attack failed. Whoever wants people to panic sell will have to throw more at it. You normally don’t spot sell these kind of amounts unless you have a very specific reason for it.

  3. BGDs are a thing of the past apparently. Now all we have are SUEs (slow uncertain erections).

  4. Presently in the fear phase? What do you guys think?

    https://twitter.com/fintwitonly/status/1538077102775451648

    I think somewhere between fear and capitulation.. stocks will continue to go down further as wider economy slows down and some countries start imploring (starting wit Japan, Germany ), thats not gonna be good for bitcoin at all.

  5. How exactly are stops coming into play now? We took out 20k, 19.6k and also 19k. Whatever downside now, liquidations can’t continue to be a substantial factor.

  6. now a year and a half of prolonged 20-30k painful sideways action and we’re ready for 2024 halving/fed rate bump/more central bank money injections.

  7. I have a feeling we’re up back above $20k this coming week, then continue the bleed out after some consolidation.

  8. Started a daily DCA over a year ago, and bumped it up since the drop from $30K. Has been one of the best things to keep me unbothered about the price. Long term bullish and welcome more time to accumulate.

  9. Besides the stops that took this to 19.1k in like 2 minutes from 20k. This has been pretty weak stuff. I think we will see 21k later today, classic scam wick.

    Disclaimer: it has been less than 7 weeks that we were at 40k, I have been wrongly expecting bounces ever since lol.

  10. If the weekly closes above the 200SMA we can pretend this was a necessary flushout wick and everything is ok. :PepeCopium:

  11. Bitcoin needs to decouple from and stop following the Federal
    Reserve money printer. If it doesn’t then it is just another ponzi bootlicking the Fed, like all other “investments”.

  12. That wick to 19k just felt really weak..classic scam wick…im pretty sure 19k is the bottom we all have been waiting for the last 8 months.

  13. Front pages, NYTimes online: https://www.nytimes.com/2022/06/18/technology/bitcoin-20000.html

  14. Feels like a real bottom now seeing that we already fell of the scary ledge. Now the anxiety is more about how to climb back up.

  15. liquidated on my last long

    opening a new 10x long at $19,360 with the idea that this was just a $20K stop hunt and there won’t be a follow through

    just 5 more trading buckets left

  16. GM Drew Peacorn,

    It’s not all bad. I’m watching my gym wife do RDLs.

    Pop that peach!

  17. I’d be stunned if we don’t at least make a run at 20k again over the next few days, so the r/r for a quick scalp is pretty good if nothing else.

  18. In a weird way, Bitcoin did what is was supposed to. Went up multiples during an unprecedented period of monetary expansion/policy, and now is unwinding it ALL with the commitment to monetary tightening. Kind of a shame that’s all bitcoin is, but I guess we’ll have fun again once the fed is forced to turn the printer back on (an inevitability, but just a matter of “how long”). Remember this game during the next printing cycle.

  19. This is the most bitcoin I’ve bought since early 2020. Still keeping a little cash in case we go lower but this extremely tempting.

  20. What is this subreddit thoughts/theories on those ~700 000 btc currently sitting at GBTC trust and trading negative ~34% NAV?
    Asking genuinely. How do you think of what/whose capital in the first place was used to aquire those? How much of it might have been tether involvement in this? Do you think there are scenarios of which those btc might get released and sold on the open market in the (near) future?

  21. Sorry for folks who got stopped out and liquidated but the 20k break was very clear and inevitable which I posted yesterday here. If it isn’t caused by panic selling, a daily chart looking like that never recovers quickly like a V.

  22. Can´t fucking believe that after all that droping from 40s and 30s it only bumped 2k to 32 and 22.

  23. I don’t see how this doesn’t end up in more deficit spending and yield caps. Look at Europe. Look at Japan. The dollar is the most credible among its peers, but why are its rates higher? Because of inflation caused by printing money and giving it away.

    This will inflate risk assets in the long run, until rates are higher than inflation.

    This is a cycle. We cause the cycles by trying to survive them. Have the courage to break the cycle.

  24. My biggest worry here is that normie bros are still asking “damn is this a good place to buy finally” and not saying “holly hell dude bitcoin is dead you loser”.

  25. u/Shootinsomebball now leads the “Guess the Low” contest with a guess of $18,700.00.

    11 of the original 64 entrants are still in it.

    $18,700.00 u/Shootinsomebball

    $18,323.00 u/eldormilon

    $18,140.00 u/de_moon

    $17,100.00 u/Rusty5M

    $16,850.00 u/CHUD5150

    $15,555.00 u/KingKnee

    $15,288.79 u/Specialist-Click3828

    $14,386.17 u/Ok-Win-88

    $13,000.00 u/outofworkslob

    $12,423.00 u/senond

    $1.00 u/stopshadowbanningme4

  26. Don’t tell me we’re just gonna repeat the same depressing sideways waltz we did at 20k

  27. We can’t even bounce for 500 bucks under 20k. Free money printer for going short no matter the price.

  28. I thought this pos was suppose to fight inflation and not make you more poor. Lmao

  29. Well I officially know nothing. I thought this was the one price point that wouldn’t break(the previous all time high). I was wrong. I’ll still continue to hold, cause what else am I gonna do, but this fucking hurts. Worst “cycle” ever.

  30. Fun fact: we’re currently 73% down from the ATH, but if we go down to 90% down from the ATH that means we can drop another 64% from here.

  31. On the flipside, bitcoin only has the ability to fall another 19,000 dollars. Strong floor after that. Bullish

  32. We’re thinking of reaching out to Warren Buffett. You and Buffett go back, right? Do me a favour and call him.

  33. The bitfinex longs are at an ATH, are the bears liquidate hunting or we expecting for some relief? I hope it’s soon lmao

  34. this deserves to be a top level comment:

    thats the beauty of it…we already lost the total current BTC value in 1 month

    price was $39,690 a month ago

    so if you could stomach that drop, you can now stomach BTC going to zero

  35. I really feel like rage quitting now. Bear market barely even begun and we’re already below every possible historical support.

    Bitcoiners were right all along. And we still lost.

  36. So btc came out after the 2008 recesion, after this one a new kind of ciber money?? Or btc will prove everyone to be recession-proof?

  37. there’s new ef you dee on twitter – a margin call for barry shillbert. nobody has anything to back that up, people just passing on the gossip.

Leave a Comment