[Daily Discussion] – Sunday, June 26, 2022

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[Daily Discussion] - Sunday, June 26, 2022

13 thoughts on “[Daily Discussion] – Sunday, June 26, 2022”

  1. Things have been awfully quiet today (“Today” being Saturday, which is probably yesterday where you are).

    Is it the calm before the thing that comes after the calm? Maybe not a storm, but… something pseudo-stormy? Stormish? Stormesque?

    HHHhmmmmmmmm.

  2. I have to admit that I am positively surprised at how the bulls have kept this feeble uptrend going over the past couple of days, with the price hovering above the psychologically important level of 20K. This might in the best case suggest seller exhaustion. Then again, my gut feeling continues to be that we are not out of the woods yet and could see a retest of 20K and, potentially, 17600 for several months and/or until the price is well above 30K.

    As others, I am unhappy about the fact that the Bitcoin dominance ratio is at historically very low levels. It puzzles me why, unlike during the 2018 bear market and downturns within the subsequent bull market that started in January 2019, this rate has fallen steeply between November 2021 and now.

    Though no single alt appears to be threatening to “dethrone” BTC anytime soon, the combined weight of the alt market keeps growing, diverting capital away from BTC. Hopefully, this is just whales playing with their money a few months before the onset of the next bull market. Explanations, hypotheses?

  3. My daily, ‘the bottom is in post’, since the bottom on the 18th of June

  4. I’m guessing as I didn’t hear anything about it, that Twitter LARPer talking about exposing VC orgies with 8 year olds didn’t release shit?

  5. 200WMA closing in on fast! (not as fast as I ‘d like); another weekly green tomorrow! (which is rare in recent months); no upcoming bad news which is good news. Sunday! pump day!

  6. The 1W RSI has almost never been as low as it was last week. Historically, oversold 1W RSI has been an excellent bottom indicator (beware of low sample size n=2 though):

    January 2015: $152.4 USD, 1W RSI: 25.27

    December 2018: $3122 USD, 1W RSI: 26.97

    June 2022: $17593 USD, 1W RSI: 27.81

    ^^[Data ^^from ^^Bitstamp ^^BTCUSD ^^via ^^cryptowat.ch]

  7. There we go. No weekend is complete without a scam wick fakeout. Market makers aren’t about to miss the opportunity that low volume weekends provide

  8. Shades of early 2019 — we saw a lot of these upward-pointing arrows/tamped-down spikes in the weeks and months before the long climb up from 3.xK.

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