# Why bitcoin dropped



## Deleted member 14978 (Dec 3, 2021)

Purple lines show previous support. When support is lost in an uptrend guess what? We are in a technical downtrend and should look for entries to short.

Just closed most of my shorts from 58k and will look to short any rally we have up to 63k.


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## .👽. (Dec 3, 2021)

i think long term it will always go up


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## Deleted member 16262 (Dec 3, 2021)

probably elon musk tweeted something to make it go down

i was in the game when btc was at like 55k and it dropped to like 27k because elon musk tweeted some shit. 

made me invest that shit straight into monero. monero is really stable you will make a profit after some years but not too much maybe 3-5x profit. best way to invest right now is using the cheap fast rising coins and buying a lot of them. but im not gonna tell you which ones


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## Deleted member 14978 (Dec 3, 2021)

roninmaxxer said:


> probably elon musk tweeted something to make it go down
> 
> i was in the game when btc was at like 55k and it dropped to like 27k because elon musk tweeted some shit.
> 
> made me invest that shit straight into monero. monero is really stable you will make a profit after some years but not too much maybe 3-5x profit. best way to invest right now is using the cheap fast rising coins and buying a lot of them. but im not gonna tell you which ones


BTC didn't drop because Elon Musk tweeted. btc dropped because it lost weekly support. It's that simple. Musk's tweets provides liquidity for the move to happen but the reason it fell has nothing to do with him. Smart money fills up short positions well in advance and then they use news/tweets to add liquidity for a move. I could have told you that btc was gonna drop on the 19th April well in advance of Musks tweet.

News is ALWAYS factored into the price before the new event is announced to general public (dumb money)


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## Deleted member 16262 (Dec 3, 2021)

Crowz said:


> BTC didn't drop because Elon Musk tweeted. btc dropped because it lost weekly support. It's that simple. Musk's tweets provides liquidity for the move to happen but the reason it fell has nothing to do with him. Smart money fills up short positions well in advance and then they use news/tweets to add liquidity for a move. I could have told you that btc was gonna drop on the 19th April well in advance of Musks tweet.
> 
> News is ALWAYS factored into the price before the new event is announced to general public (dumb money)
> 
> View attachment 1425572


you are the definition of ACKSHUALLY 

fucking hell if youre so fucking smart where is your lambo


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## Deleted member 16262 (Dec 3, 2021)

ignored


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## eduardkoopman (Dec 3, 2021)

roninmaxxer said:


> probably elon musk tweeted something to make it go down
> 
> i was in the game when btc was at like 55k and it dropped to like 27k because elon musk tweeted some shit.










Crowz said:


> Purple lines show previous support. When support is lost in an uptrend guess what? We are in a technical downtrend and should look for entries to short.
> 
> Just closed most of my shorts from 58k and will look to short any rally we have up to 63k.
> 
> ...


daytrading imo is rather difficult.
I am more a hodl type of person, and maybe try to buy into bigger waves, and sell into massive overbought tops situations. I'm not good enough, for daytrading


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## autistic_tendencies (Dec 3, 2021)

These elites playing you for fools


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## Copeful (Dec 3, 2021)

Crowz said:


> I could have told you that btc was gonna drop on the 19th April well in advance of Musks tweet.


why didnt you load up a leveraged short then retard


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## one job away (Dec 3, 2021)

.👽. said:


> i think long term it will always go up


Doesn’t have to be. Indian made it illegal. If China hasn’t done it already they will 100%.

Europe politicians would love to see it banned as well but obviously won’t say it like that since „freedom“. Just like vaccines aren’t mandatory. But since Europe Parlament is just full of old politicians who have no clue what btc even is, they have a hard time coming up with laws to make it unusable without actually banning it. Their old fart brains can’t grasp the concept of the internet let alone blockchain. But give it a couple of years and btc will be practically unusable here as well.

I wouldn’t invest in btc long term. too high risk and won’t go up massively anyways in a realistic time


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## Mouthbreath (Dec 3, 2021)

the trend isnt really broken and the correction is still slow and controlled


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## eduardkoopman (Dec 3, 2021)

one job away said:


> Doesn’t have to be. Indian made it illegal. If China hasn’t done it already they will 100%.


China banned Bitcoin already 10+ times. it's totally proced in already, that the rice governments hate Bitcoin


one job away said:


> Europe politicians would love to see it banned as well but obviously won’t say it like that since „freedom“. Just like vaccines aren’t mandatory. But since Europe Parlament is just full of old politicians who have no clue what btc even is, they have a hard time coming up with laws to make it unusable without actually banning it. Their old fart brains can’t grasp the concept of the internet let alone blockchain. But give it a couple of years and btc will be practically unusable here as well.


it might be made difficult, to exchange crypto for fiat currencies.
I do think, the crypto marketplace can even exist with that difficulty. And keep be, or be, a trading system among each other.


one job away said:


> I wouldn’t invest in btc long term.


I'm fully bullish on BTC and plenty othr cryptos. I'm irrisponsibly long, with 80% of muh possessions in cryptos.


one job away said:


> Banks already plan to come up with their own crypto shit.


Bitcoin is so good, is because the Bitcoin supply is fixed/know. Making it deflationairy. While Bank/govrnment cryptos; will be made such that they can increase the supply, causing inflation. And they can manipulate alot of factor, with their banks crypto. whereas Bitcoin, all is pre-set; and no messing around, no changing the rules, no increasing the supply, etc.. That's why imo Bitcoin moggs, and bitcoin is the mogger store of value, over any Bank/government crypto.


one job away said:


> Which totally ruins the idea of it but


not


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## eduardkoopman (Dec 3, 2021)

Mouthbreath said:


> the trend isnt really broken and the correction is still slow and controlled


i think. if we go below 51-50; than short term trend is broken.
if we go below 40K, than enter territory that even the long term trend may be broken


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## one job away (Dec 3, 2021)

eduardkoopman said:


> China banned Bitcoin already 10+ times. it's totally proced in already, that the rice governments hate Bitcoin
> 
> it might be made difficult, to exchange crypto for fiat currencies.
> I do think, the crypto marketplace can even exist with that difficulty. And keep be, or be, a trading system among each other.
> ...


The idea of blockchain was to have decentralized currency. Ofc would banks having their own crypto currency’s go against that and ruin the idea behind crypto.


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## Mouthbreath (Dec 3, 2021)

eduardkoopman said:


> i think. if we go below 51-50; than short term trend is broken.
> if we go below 40K, than enter territory that even the long term trend may be broken


true


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## Acromegaly_Chad (Dec 3, 2021)

Chart analysis is useless for BTC analysis in this case. The drop is best explained by overall pessimistic market views due to COVID and central bank policies. It's time to start buying some smaller positions now.


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## one job away (Dec 3, 2021)

Acromegaly_Chad said:


> Chart analysis is useless for BTC analysis in this case. The drop is best explained by overall pessimistic market views due to COVID and central bank policies. It's time to start buying some smaller positions now.


No it’s cuz muuuuh Fibonacci, don’t know what That is but it’s due to that. I saw a video about it. And it’s flying ape dying moon season so the Third ascent of peak will predict a bullish crabrun when the moon is blue


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## ifyouwannabemylover (Dec 3, 2021)

who cares about btc I sold all of it and put it in floki


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## one job away (Dec 3, 2021)

ifyouwannabemylover said:


> who cares about btc I sold all of it and put it in floki


Buy flamingo-flamingo. It’s gonna be 21 by 22


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## Acromegaly_Chad (Dec 3, 2021)

one job away said:


> No it’s cuz muuuuh Fibonacci, don’t know what That is but it’s due to that. I saw a video about it. And it’s flying ape dying moon season so the Third ascent of peak will predict a bullish crabrun when the moon is blue


Algorand USD 1.50 - 1.70 are entry levels with 1.85 - 1.95 exit levels.
Set limit order USD 1.90
Set stop loss USD 1.50

Thank me later

Disclaimer: yes I'm invested


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## one job away (Dec 3, 2021)

Acromegaly_Chad said:


> Algorand USD 1.50 - 1.70 are entry levels with 1.85 - 1.95 exit levels.
> Set limit order USD 1.90
> Set stop loss USD 1.50
> 
> ...


Im not a gambler


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## Acromegaly_Chad (Dec 3, 2021)

one job away said:


> Im not a gambler


Me neither I haven't closed a single crypto position with a loss in 3 years of trading


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## eduardkoopman (Dec 3, 2021)

one job away said:


> The idea of blockchain was to have decentralized currency. Ofc would banks having their own crypto currency’s go against that and ruin the idea behind crypto.


imo. 2 seperate things, are conflated into 1 thing in this statement. whch makes it an incorrct statement.

blockchain.
and
decentralized currency or defi (decentralized financing).

Are 2 different things.
1 can exist, without the other. for sure blockchain exists sepreate from defi/decentralised currency.

One can create on blockchain an centralized "currency".
And one can create on blockchain an decentrilzed "currency"

_
Why was bitcoin created, in 2008 after the banks bankruptcy crisis?
1. to not be dependant on banks (only).
2. fixed rules which are known and unchanged (in the whitepaper of Bitcoin). known rules about suplly, creation, etc.. (goverments/banks, constantly change the rules/playing field)
3. decentralized, so no one controls it and can mess with it (govrnments/banks control currncy, and can mess with it though creation, interst rates, etc..) _

Government/banks created digital currency. Will not annihilate above 3 main reasons why: bitcoin was creaste. and why bitcoin has been immensly successfull the past 13 years (best performing asset of past 10+years)


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## eduardkoopman (Dec 3, 2021)

ifyouwannabemylover said:


> who cares about btc I sold all of it and put it in floki





one job away said:


> Buy flamingo-flamingo. It’s gonna be 21 by 22



meme-coins. imo. it's kinda over, for meme-coins. It's just copy-paste many other meme-coins and trying to replicate it. Which makes it over.

It's time, to find new. creastive porjects. If one wants to gamble.
Not jump into copy-cats number #1234567899054345467890

I feel veryy bullish on game related cryptos, and metaverse cryptos. As a niche


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## ifyouwannabemylover (Dec 3, 2021)

eduardkoopman said:


> meme-coins. imo. it's kinda over, for meme-coins. It's just copy-paste many other meme-coins and trying to replicate it. Which makes it over.
> 
> It's time, to find new. creastive porjects. If one wants to gamble.
> Not jump into copy-cats number #1234567899054345467890
> ...


floki is a metaverse coin


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## eduardkoopman (Dec 3, 2021)

ifyouwannabemylover said:


> floki is a metaverse coin


lol @ me totally missing that factor


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## Deleted member 14978 (Dec 3, 2021)

Copeful said:


> why didnt you load up a leveraged short then retard


because I don't trade btc


Acromegaly_Chad said:


> Chart analysis is useless for BTC analysis in this case. The drop is best explained by overall pessimistic market views due to COVID and central bank policies. It's time to start buying some smaller positions now.


jfl if you think COVID news has anything to do with this drop


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## Acromegaly_Chad (Dec 3, 2021)

Crowz said:


> because I don't trade btc
> 
> jfl if you think COVID news has anything to do with this drop


Its not my thoughts but the analysis of a crypto trader from dubai whom I know and from another guy who has a net worth of 25 million

Chart technique doesnt explain jack ass when it comes to news trading


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## Deleted member 14978 (Dec 3, 2021)

Acromegaly_Chad said:


> Its not my thoughts but the analysis of a crypto trader from dubai whom I know and from another guy who has a net worth of 25 million
> 
> Chart technique doesnt explain jack ass when it comes to news trading


News trading is a meme. News is already factored into price well before the public hear of this news.
Do you honestly believe billionaire hedge funds are refreshing CNBCs website waiting for the latest market news to come out? Jfl


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## noodlelover (Dec 3, 2021)

Maybe it's a temporary down trend for a few months, or whatever, but this isn't the bear market. There's been too much sideways accumulation for that to happen before another significant push up.


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## ifyouwannabemylover (Dec 3, 2021)

eduardkoopman said:


> lol @ me totally missing that factor


it'll go to the moon


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## ezio6 (Dec 3, 2021)

roninmaxxer said:


> probably elon musk tweeted something to make it go down
> 
> i was in the game when btc was at like 55k and it dropped to like 27k because elon musk tweeted some shit.
> 
> made me invest that shit straight into monero. monero is really stable you will make a profit after some years but not too much maybe 3-5x profit. best way to invest right now is using the cheap fast rising coins and buying a lot of them. but im not gonna tell you which ones


metaverse coins duh


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## TheMewingBBC (Dec 4, 2021)

crypto options expiring is part of the reason


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## Deleted member 6427 (Dec 4, 2021)

TheMewingBBC said:


> crypto options expiring is part of the reason


What happened to lookism you fucking nigger


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## TheMewingBBC (Dec 4, 2021)

"grave mistake"


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## eduardkoopman (Dec 4, 2021)

TheMewingBBC said:


> crypto options expiring is part of the reason


just today, i bought an BTC option contract expering 10 december.
bought 0.9 BTC contract. for roughly 300USD. Strike @$54000.

Lets pray for a bounce back to $57000. and than muh option contract would be worth 2700USD

lets pray


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## Patient A (Dec 4, 2021)

TheMewingBBC said:


> crypto options expiring is part of the reason


tried to go on lookism and and start a thread to warn everyone to sell yesterday but the shit fucking site wouldn't load. I'm actually so pissed about it.

I should have posted on here really tbh idk feelsbadman. fuck lookism servers dog shit fucking shit

I knew this crash was coming two weeks ago but I wanted to drop the bomb on last day... ah well.


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## eduardkoopman (Dec 4, 2021)

Patient A said:


> tried to go on lookism and and start a thread to warn everyone to sell yesterday but the shit fucking site wouldn't load. I'm actually so pissed about it.
> 
> I should have posted on here really tbh idk feelsbadman. fuck lookism servers dog shit fucking shit


J'ettache LES DIPPS


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## WontStopNorwooding (Dec 4, 2021)

@Baldingman1998 crashed the market


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## eduardkoopman (Dec 4, 2021)

WontStopNorwooding said:


> @Baldingman1998 crashed the market


He's BOGGING US!


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## Oueyy (Dec 4, 2021)

Guess my 100 BAT are fucked JFL


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## noodlelover (Dec 4, 2021)

Patient A said:


> tried to go on lookism and and start a thread to warn everyone to sell yesterday but the shit fucking site wouldn't load. I'm actually so pissed about it.
> 
> I should have posted on here really tbh idk feelsbadman. fuck lookism servers dog shit fucking shit
> 
> I knew this crash was coming two weeks ago but I wanted to drop the bomb on last day... ah well.


What metric do you look at?


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## eduardkoopman (Dec 4, 2021)

GraveMistake said:


> What happened to lookism you fucking nigger





TheMewingBBC said:


> "grave mistake"





Patient A said:


> tried to go on lookism and and start a thread to warn everyone to sell yesterday but the shit fucking site wouldn't load. I'm actually so pissed about it.
> 
> I should have posted on here really tbh idk feelsbadman. fuck lookism servers dog shit fucking shit
> 
> I knew this crash was coming two weeks ago but I wanted to drop the bomb on last day... ah well.


Never been on Lookism, and like to keep it that way.

Everyone on Lookism, go er


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## cmfanel (Dec 4, 2021)

TheMewingBBC said:


> "grave mistake"


fr what happened to the site u in contact w admin or the other mods


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## TheMewingBBC (Dec 4, 2021)

cmfanel said:


> fr what happened to the site u in contact w admin or the other mods


i have no contact with them and have no idea why it went down


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## Patient A (Dec 5, 2021)

eduardkoopman said:


> J'ettache LES DIPPS
> 
> 
> 
> ...


Maximum pain incoming faggot


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## Patient A (Dec 5, 2021)

noodlelover said:


> What metric do you look at?


Theres alot of various indicators and historical references.

Will probably get one last leg up mid December

take profits faggot


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## Nameless_Sunflower (Dec 5, 2021)

Crowz said:


> Purple lines show previous support. When support is lost in an uptrend guess what? We are in a technical downtrend and should look for entries to short.
> 
> Just closed most of my shorts from 58k and will look to short any rally we have up to 63k.
> 
> ...


Professor @PingPong,
Would you please express your opinion on the coming days and the near future of bitcoin?
I myself am very worried indeed


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## Harold O'brien (Dec 5, 2021)

Because of Omicron/evergrande/inflation and it was losing momentum anyway


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## Deleted member 14323 (Dec 5, 2021)

Nameless_Sunflower said:


> Professor @PingPong,
> Would you please express your opinion on the coming days and the near future of bitcoin?
> I myself am very worried indeed


Correction phase. It was hovering just above EMA for some time, it lost key support and now it’s recovered slightly. There’s extreme fear in the market (good thing) people are scared, take advantage. I’m not worried at all. Buy the late Black Friday sale. When it goes down hard, it goes up even harder.


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## eduardkoopman (Dec 5, 2021)

Harold O'brien said:


> Because of Omicron/evergrande/inflation and it was losing momentum anyway


cope reason list


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## Harold O'brien (Dec 5, 2021)

eduardkoopman said:


> cope reason list


yeah sorry, forget it was because of the magic graph lines


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## Deleted member 14978 (Dec 5, 2021)

Harold O'brien said:


> yeah sorry, forget it was because of the magic graph lines


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## eduardkoopman (Dec 5, 2021)

PingPong said:


> There’s extreme fear in the market (good thing) people are scared, take advantage.


i agree on this general opinion.
high fear, blood running through the streets = good time to buy













Crypto Fear & Greed Index - Bitcoin Sentiment


The crypto fear & greed index of alternative.me provides an easy overview of the current sentiment of the Bitcoin / crypto market at a glance.




alternative.me


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## eduardkoopman (Dec 5, 2021)

Harold O'brien said:


> yeah sorry, forget it was because of the magic graph lines


adding 1 extra cope reason to the list


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## Harold O'brien (Dec 5, 2021)

eduardkoopman said:


> adding 1 extra cope reason to the list


ok, enlighten me financial genius


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## Deleted member 14978 (Dec 5, 2021)

Harold O'brien said:


> ok, enlighten me financial genius


When the support that took you to the high is lost (close below) trend is reversed and you expect a move down. You could have predicted the Wall Street Crash in 1930 and the 08' crash with this basic knowledge. This happens in all products and in all time frames. BTC lost its weekly support on the 15th November so you expected a move down. Nothing to do with virus or tweets jfl


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## Harold O'brien (Dec 5, 2021)

Crowz said:


> When the support that took you to the high is lost (close below) trend is reversed and you expect a move down. You could have predicted the Wall Street Crash in 1930 and the 08' crash with this basic knowledge. This happens in all products and in all time frames. BTC lost its weekly support on the 15th November so you expected a move down. Nothing to do with virus or tweets jfl
> 
> 
> 
> ...


LMAO

why do you think it broke the support then?

you are literally saying it moved down because it moved down


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## eduardkoopman (Dec 5, 2021)

Harold O'brien said:


> ok, enlighten me financial genius


human psychology and trading positions of people.

The level of believe of people for the future in it, which can range from euphoric greed beleiving it will moon; to extreme fear beliving it will go to zero.

People wer losing some trust for the future, causing a bit of drop.
And there was a group of people, that were giga bullish. Whome decided to go trade on leverage. And they got liquidated due to insufficient funds, chain reaction. that caused the giga spike down to 42K. About 2.5 billion (2 500 000 000) leveraged positions got liqidated in that dump to $42K; insane amount. Insane amount of people, had been borrowing money, to buy extra bitcoin(exposure), and they got their asses handed to them.

Now that this shake out happened. I am curious what the current people in it, view for the future about Bitcoin now. I think it will be okay up, I expect


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## Deleted member 14978 (Dec 5, 2021)

Harold O'brien said:


> LMAO
> 
> why do you think it broke the support then?
> 
> you are literally saying it moved down because it moved down


It broke support because it was overbought and momentum was falling. Omnicron was announced after the 15th of November. If there had been no new variant btc would still have done the same thing.


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## Harold O'brien (Dec 5, 2021)

Crowz said:


> It broke support because it was overbought and momentum was falling. Omnicron was announced after the 15th of November. If there had been no new variant btc would still have done the same thing.


incorrect

it basically followed the s&p500, which was reacting negatively to omicron/evergrande/inflation(fear of rising interest rates)


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## Deleted member 14323 (Dec 5, 2021)

eduardkoopman said:


> i agree on this general opinion.
> high fear, blood running through the streets = good time to buy
> 
> View attachment 1427170
> ...


I feel it could go down even more though. We're still in a extended rising wedge for BTC, lets see.


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## eduardkoopman (Dec 5, 2021)

PingPong said:


> I feel it could go down even more though. We're still in a extended rising wedge for BTC, lets see.


yeah for sure could happen.
I dunno about what is more probable.

But I have placed my "bets'/positions; on it going up soon again. So i personally see that as mor probable than down or side-ways.

My views of probablity is:
1. up,
2. side ways
3. more down


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## TheMewingBBC (Dec 5, 2021)

Harold O'brien said:


> Because of Omicron/evergrande/inflation and it was losing momentum anyway


inflation works for crypto not against
feds hinting on taking counter inflation measures early and going HARD since rates have been exceeding bank's expectations is probably another reason, with Powell saying he's retiring the word "transitory"


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## Harold O'brien (Dec 5, 2021)

TheMewingBBC said:


> inflation works for crypto not against
> feds hinting on taking counter inflation measures early and going HARD since rates have been exceeding bank's expectations is probably another reason, with Powell saying he's retiring the word "transitory"


that's the crypto narrative - in reality people just de-risk their portfolio, which involves selling off crypto (maybe this will change who knows)


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## eduardkoopman (Dec 5, 2021)

TheMewingBBC said:


> inflation works for crypto not against
> feds hinting on taking counter inflation measures early and going HARD since rates have been exceeding bank's expectations is probably another reason, with Powell saying he's retiring the word "transitory"


Mirin the avi pic.
Mohammed Ali, is one of the greatest persons that ever lived. Very wise man. Great example for anyone, sad he got ill so early/young.


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## W0KESTMOTHF (Dec 5, 2021)

eduardkoopman said:


> Mirin the avi pic.
> Mohammed Ali, is one of the greatest persons that ever lived. Very wise man. Great example for anyone, sad he got ill so early/young.




This video is super inspirational to me , indeed he was one of a kind


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## noodlelover (Dec 5, 2021)

Look at this massive bitcoin drop.





We're through boys. Crypto is dead. Time to pack up and go home.


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## King Solomon (Dec 5, 2021)

Crypto is backed by the dollar and fiat currencies which are backed by nothing. As banks like Evergrande continue to default and the printing goes into all time new heights the hyperinflation will ensue until all fiat currencies dissapear along with all crypto's which are backed by the fiat ponzi schemes. 

The time to trade your crypto for real assets like businesses, gold, silver, land or real estate was in the summer time. It's too late now. Enjoy the crash to ZERO.


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## Crusile (Dec 5, 2021)

Crowz said:


> It broke support because it was overbought and momentum was falling. Omnicron was announced after the 15th of November. If there had been no new variant btc would still have done the same thing.


this is mental masturbation, the reasons literally dont matter

Positions can close because a trend breaks but a trend might break because omnicron. 

The point should be, omnicron doesnt matter because the chart levels/trends control the chart either way.


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## Cretinous (Dec 6, 2021)

Bitcoin's price is propped up by tether funny money and every cycle is becoming less and less coherent. Recently, due to regulatory pressure and several criminal investigations, tether has been printing obscene amounts, in which one can only reasonably deduce they are trying to extract as much juice as they can before they exit finally. Anyone who has a substantial amount of money in Bitcoin right now is a fool. No one can say when this will bust, but it absolutely _will, _this sort of price action is totally unsustainable, and is a mixture of wash trading, exchange manipulation and mass euphoria/delusion.

If anyone was under the delusion that Ponzi schemes can't last a long time, I would suggest you look up Bernie Madoff and learn how long he ran his Ponzi for before it all came tumbling down. 

It is shocking how many people who are supposedly into crypto are completely, obliviously unaware of the tether situation and huge black swan it represents. Huh what do I care, I'm buying btc not usdt! -


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