Bitcoin FALLING! Mt. Gox Sell-Off? | Support Lines To Watch [Bitcoin Today]



Bitcoin Analysis & Crypto News Today: Bitcoin is falling, and where is the bottom? I use technical analysis to provide you with some support levels to watch. It also seems like the Mt. Gox trustee has sent some Bitcoin to an exchange. Is this the reason for the fall? I also talk about the development of Lightning Network in the latter part of the video. Am I bullish or bearish on the Bitcoin price? Watch the video to find out!

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0:39 Bitcoin Technical Analysis
18:11 Dow Jones Analysis
20:38 Lightning Network

Sources:
Mt. Gox Adress: https://blockchain.info/address/16rCmCmbuWDhPjWTrpQGaU3EPdZF7MTdUk?filter=1
Lightning Network Picture: https://i.redd.it/zm2k9ftuj1x01.png

More about the Mt. Gox Sell-Off https://www.coindesk.com/mt-gox-trustee-sells-400-million-bitcoin-bitcoin-cash/

37 thoughts on “Bitcoin FALLING! Mt. Gox Sell-Off? | Support Lines To Watch [Bitcoin Today]

  • May 11, 2018 at 7:46 pm
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    Guitars in the background…. Do you play guitar?
    Well, anyway… Mt. Gox should be fair to everyone and 'burn' all their bitcoin… don't you think?
    BTW, is it possible for a holder of Bitcoin to 'burn' their Bitcoin?

    Reply
  • May 11, 2018 at 8:10 pm
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    Thanks a lot for your video , i have just suscribe in ur chanell , can you please advise what do you think about altcoin like ARK QTUM TNT and other which took 4 block on the consensus 2018 .. does that creata new bulish future for those or it is only a meeting ?

    Reply
  • May 11, 2018 at 8:31 pm
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    Are you surprise that the price goes down? the selloff is pretty semi-crazy i think

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  • May 11, 2018 at 9:14 pm
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    It has been confirmed (CCN) that the Mt Gox remnant sold between 8000-10000 bitcoin in the past two days. Most probably, this is causing this big correction, as it is exceeding 12-15% in most cryptos. Also, there is a new development: The biggest crypto exchange in South Korea, Upbit, was suddenly raided on a flash police operation. They claim that the company is facing fraud charges and altered their balance sheets. I say the remnant of this week and part of the next will be flooded with fear and suspicion before we see any movement (up or down). I think the bull trend may resume, as the volumes from the sellers have been a bit high, but they can't keep it up forever. Also, the RSIs (in general) bottomed near the 25-30 zone. So far, there is no big reason to suspect a big bear trend will follow but will have to monitor the RSIs closely

    Reply
  • May 11, 2018 at 9:33 pm
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    The best thing about your video is instead of giving false hopes you try to give the real picture, keep up the good work and play your own composition as back ground music.

    Reply
  • May 11, 2018 at 10:12 pm
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    interesting RSI analysis.. of course psychology driven markets tend to stay irrational for quite long

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  • May 11, 2018 at 10:35 pm
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    How interesting. What I mean is your use of RSI.

    A few weeks ago I nearly concluded that all momentum stochastic
    indicators have limited use in Bitcoin's highly volatile price.

    Then four days ago I was looking at my very short term RSI (2,close)
    Upper line = 95, Lower line = 5, Daily bars. (It's good to watch this in
    conjunction with Fibonacci lines for short term pauses in price)
    And by coincidence I noticed how it manifests persistent
    oversold/overbought behaviour corresponding to trend. Just as you have
    defined a persistent upper/lower band in the RSI. I noticed persistence
    of OB/OS (peaks/troughs) and decided multiple incidences should be
    interpreted within clustering behaviour.

    Like you I decided to continue observing with the possibility this may be the best way
    to interpret momentum indicators

    Reply
  • May 12, 2018 at 12:37 am
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    You deserve many more subscribers – and they will come mate

    Reply
  • May 12, 2018 at 2:21 am
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    Possibly when 3 of the richest men in america called bitcoin a turd people starting smelling shit

    Reply
  • May 12, 2018 at 2:27 am
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    My fox selling actually positive long term. Makes btc ownership more distributed

    Reply
  • May 12, 2018 at 3:18 am
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    The real reason for this drop is simply charting mechanics. We recently broke out of a huge isometric triangle that started last December, and then we had a rally, and now we are re-visiting the top of that same triangle. You can see that very clearly on the daily line chart especially.

    It has nothing to do with the Upbit raid or Warren Buffet, or the Mt Gox clown selling BTC. It is simply chart mechanics. If any one doubts that, if the market does not bounce strongly today or tomorrow, I would be very surprised.

    The stochastic RSI is now curving up and the RSI is right on 41 and up-trending strongly. We are in a perfect position for a big move up, with 60 RSI points above us to move.

    Before I learnt charting, I too believed in the FUD and market manipulation. Now I realise that the bad guys watch for chart indicators to show a down-turn coming, then release the FUD to make it look like the market is selling off due to the news.

    Reply
  • May 12, 2018 at 4:07 am
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    bitcoin hype move to 11600k tp then get back in at the bounce then tp at 13500k then its gonna pop and it going low again end of 2018. rsi 20 or 18 is the bounce.

    Reply
  • May 12, 2018 at 5:17 am
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    Content great! But TA is horrible. Drop the TA in your video…its all false narratives — From a prop trader with 10+ years of experience

    Reply
  • May 12, 2018 at 5:25 am
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    Could you perhaps consider throwing in a little auction market theory in future analyses?

    Reply
  • May 12, 2018 at 8:40 am
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    Why does everybody keep bringing up mt gox and FUD when bitcoin crashes , it could be anybody selling tons of btc ffs : miners , investors, exchanges , rich people .

    Reply
  • May 12, 2018 at 9:26 am
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    If you point your fingers every time you say 'cryptocurrency video' make sure it's in all your videos

    Reply
  • May 12, 2018 at 10:29 am
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    mt gox trustee is a fucking lier and so is that piece of shit karpeles who said hes done selling btc and doesnt want 1b$ from btc sales lol what a load of shit the guy has been dumping through various addresses in pathetic attempt to not get caught someone should kill this guy for btc's sake

    Reply
  • May 12, 2018 at 10:31 am
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    Great analysis Carl! Seems like a head and shoulders pattern formed against the red 200day moving average line too, not? Interesting anyways

    Reply
  • May 12, 2018 at 11:18 am
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    I would say hold on because this is going to be a wild ride. Mainstream is bullish. Not a good sign

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  • May 12, 2018 at 1:13 pm
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    Hi Carl. Did you see the massive falling wedge at the weekly chart? Bottom would be around 7.5k and from their it could launch all the way to 11k (log chart)

    Reply
  • May 12, 2018 at 2:35 pm
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    Is there any number that isn't significant? No matter what the number is you can always go back and find support or resistance at some point in time.

    Reply
  • May 12, 2018 at 5:18 pm
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    can you please advise what do you think about altcoin like ARK QTUM TNT and other which took 4 block on the consensus 2018 .. does that creata new bulish future for those or it is only a meeting ?

    Reply
  • May 13, 2018 at 8:41 am
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    Hey Carl how's everything looking so far? You think theres a good chance we've bottomed already? Greetings buddy!

    Reply
  • May 14, 2018 at 4:56 am
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    Has nothing to do with Mt. Gox and everything to do with needing to correct just like it did starting in March just a smaller version of a pattern…this is so obvious as the elliott waves are identical that to think otherwise is really confusing to me to be honest. What or who gives the false information everyone is reading that anything will be different this time than what the previous pattern did. We have to correct either ABC or Wave 2 on the climb we just did…Mt. Gox shares are traded OFF the exchanges and do not affect exchanges, they keep saying this and people keep ignoring it apparently. Investors trade large amounts of shares off exchanges every day and nobody talks about it. They bring up these fake news every single time we have a correction to justify the fall BECAUSE UNDER NORMAL CIRCUMSTANCES THERE WOULD BE NO REASON TO CORRECT THIS FAR. But because we are running a set, programmed algorithm to pump-n-dump, this fake news proliferates the channels and you guys all repeat it. I get Carl that you want to analyze of course but honestly, no point in analyzing a set pattern that has nothing to do with the outside world aside from a technical correction that is baked into the system. They will dump it until the convention, and it will rise up this week naturally after the crypto summit and they will say it's because of that, just like they did last year…bleh…too predictable and then will drump it cause we need to finish what we started. Our brains need to reason but math, algos and patterns always prevail.

    Reply

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