BitCoin Weekly Close Contest #5 WK#22 - 30 SBI in Rewards
Apologies that we have been away for two weeks. But don't worry we are back with 3 times the payout(because we didn't do the payouts last 2 weeks).
Hope you guys will continue to shower love, so that I can keep the reward pool alive to continue this contest.
If you are participating in the contest for the first time, here is what it is about.
While trading everyday and working on our charts, we use different set of oscillators to keep an eye on this market. And at times most of us see things differently and have different results.
This is an initiative to bring different traders and analysts together to find out where do we see BTC heading.
That's correct. We would like you to guess the price of weekly close on BTCUSD:Coinbase and 3 entries closest to the weekly close would win.
Winners for the week #19 (Contest #4)
BTC close that week was 6979. And here are the 3 of our members who guessed it right.
- 7003.21 by @pundito (5 SBI)
- 7140 by @chireerocks (3 SBI)
- 6500 by @josephsavage (2 SBI) - Although this one is too far, but thats the 3rd closest :)
Congratulations to all our winners.
Let's start working on finding out what would be the next close on weekly.
- Every participant must complete the tasks in this list for their entry to be valid.
- Contest would start every week on Monday and will run through Saturday.
- Every contest should submit their entries before Saturday Midnight GMT.
- Every participant can submit one entry per week in this contest.
Setup a Blog Post with the following Title:
BitCoin Weekly Close Contest #1 WK#16 - [Price Prediction]
set the blog post first tag to #btcpricecontest
Put your price prediction in the comment.- If there is a conflict with the same price, comment which was put older in time will be considered winner.
- You can put your chart along with the price prediction in the body which shows the rationale behind your prediction. (Optional)
- Please Upvote and resteem this post, and follow me before you put your entry in, so we can get your friends invited, and build the reward pool. (Not necessary, but this helps us to keep the reward pool alive)
- NEW RULE - Your entry should be within 200$ of the close price else it will not be considered.
REWARDS
The top 3 places will split the 30 SBI reward pool(last 2 week's and this week's reward) for this event 15, 9, AND 6 (you can only win one reward per event). If THERE IS A TIE THEN the rewards are split.
Thanks to @richatvns for such an amazing signature banner. :)
After the big moves lately, I'm pretty surprised I even came in that close. I wonder if the new within $200 rule will make it so you don't even have winners sometimes - especially if things really start heating up again.
Going with the resistance build-up at $8200 for my guess.
I was thinking as you @josephsavage - but I'm not sure yet if more (crazy) whales will buy in.
BTC could go really crazy and reach 75k at the end of the year ... and I'm still not sure if we'll go up "smoothly" or like a rally in some moths.
You might be right - but I'm still thinking and give my guess later :)
No worries if we won't have winners we will add the bounty to next week.
Thought behind the new rule is "if your guess is not within 200$ is it even worth it, I don't think so :)"
Posted using Partiko Android
Let's try it with $8.600
WOW - thanks so much!!!
Only 0,35% miss - that's less than BTC can move in 10 minutes :)
I'll come up with a new guess later if you don't mind - first wanted to thank you ;)
Thanks to people like YOU for keeping this alive.
Would really appreciate you updating this week's guess.
Posted using Partiko Android
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Probably $8,750
Posted using Partiko Android
Based solely on the weekly price action movement, I would say there will be a very small green or red candle. Momentum loss is clear as each following candle of the four is smaller and smaller. But there is only one support around 8300 and we are just slightly above it. I strongly doubt it will hold till the end of the week, despite the long downside knot of the previous candle, which should warn before the weakness of bulls.
If we move onto daily, we can see that the knot is the result of only one daily candle. Not multiple rejections. So I am pretty confident we are going down.
The direction is clear, the target price can be a bit tricky, sometimes. I imagine we can move below 7300 support, but we will return above it to bounce down from about 8300. Four days are probably not enough for such movement with the volume we have and I am not even sure if we need to get back to 8300 for the bounce. Thus, MY GUESS IS 7455 USD/BTC.
I think it is reasonable to get there. FOMO crowd might as well push the price up again. Check fear and greed index.
https://alternative.me/crypto/fear-and-greed-index/
Either way, sounds like a short opportunity to me.
That's a pretty detailed and nice explanation. Thanks.
I will go with 8700 USD.
Owl go with 8700 USD.
I am a bot. I detect owl related puns.
@intothenewworld, Thank you so much and my guess is $8900.
Posted using Partiko Android
Hello. New to the contest. Do I understand the rules properly? Is it ok to wait with a guess for this week's candle till Saturday? People who have already submitted their entries may have confused me.
Yes. You can submit the entry by Saturday as well. However you can only submit one entry per week.
This post has received a 20.01 % upvote from @boomerang.