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re: Official CryptoTalk Thread
Posted on 6/18/21 at 9:29 am to TigerDeBaiter
Posted on 6/18/21 at 9:29 am to TigerDeBaiter
the market has been pretty blah for a month now. I gave up a long time ago expecting to correlate bullish news with anything other than momentary blips on the charts and am resigned to just playing the long game. Kudos to those that actually succeed with swing trading in this space.
2
Posted on 6/18/21 at 9:32 am to Ross
2200 resistance for eth is thicc, probably because that’s the line for the “death cross”.
It’s not looking good
It’s not looking good
Posted on 6/18/21 at 9:38 am to Tiguar
Crypto down, gold down, stocks down, 10 year treasury yields down, and the dollar is up on the back of the Fed saying they won't taper until 2023. I guess relative to other fiat currencies, that's a hawkish tone, but how could that possibly instill confidence to move away from investment vehicles and into cash or long term bonds?
the macroeconomic trends don't make a lot of sense to me at the moment. People would rather hold on to naked cash? It seems the market might actually believe the Fed about inflation.
the macroeconomic trends don't make a lot of sense to me at the moment. People would rather hold on to naked cash? It seems the market might actually believe the Fed about inflation.
This post was edited on 6/18/21 at 6:19 pm
Posted on 6/18/21 at 9:42 am to Ross
Consumer good inflation scares people.
Posted on 6/18/21 at 9:50 am to Tiguar
On its surface it is irrational to me that if you fear inflation you jump out of investments into something that is depreciating.
I guess if you really wanted to buy something and you got scared it was going to cost a whole lot more later, you liquidate some of your investments now and go ahead and buy it. I could see that angle, but only if you were someone that was really strapped for cash.
I guess if you really wanted to buy something and you got scared it was going to cost a whole lot more later, you liquidate some of your investments now and go ahead and buy it. I could see that angle, but only if you were someone that was really strapped for cash.
Posted on 6/18/21 at 9:55 am to Ross
maybe people are afraid of ground beef being $10 a pound and people having to sell stock/paper assets later, so they’re selling now
Posted on 6/18/21 at 10:14 am to Ross
quote:
the market has been pretty blah for a month now
Stablecoin LPs and farms are the way to go right now.
Posted on 6/18/21 at 12:57 pm to Hulkklogan
Started adding money to etherium on BlockFi. 1000 bucks 2200
Posted on 6/18/21 at 1:26 pm to xxTIMMYxx
I've been loading up on this dip today
Posted on 6/18/21 at 1:30 pm to TheOcean
I rebought last weeks dip, then was pleasantly surprised by the Elon (dumb) pump. Should’ve know it was just that and bailed like last time we had an accelerated run up.
Will see what this weekend brings... potential to add some more, but early IMO.
Will see what this weekend brings... potential to add some more, but early IMO.
Posted on 6/18/21 at 1:43 pm to TigerDeBaiter
Downward pressure on the market is pretty intense today.
Posted on 6/18/21 at 1:45 pm to Tiguar
quote:
Downward pressure on the market is pretty intense today.
Posted on 6/18/21 at 1:48 pm to TheOcean
quote:
I've been loading up on this dip today
Seems like the trend is to dip on the weekends and holidays and pick back up on Monday and stabilize until the weekend again. I'm going to wait until Sunday morning to catch some falling knives.
Posted on 6/18/21 at 1:57 pm to GumboPot
Be very wary. Trend is going to change soon unless those eth options expire in the 2200-2400 range.
Posted on 6/18/21 at 2:11 pm to Tiguar
Think we're going to retest 31k?
Posted on 6/18/21 at 2:14 pm to Ross
quote:
Think we're going to retest 31k?
You are probably going to test $20,000 in the not too distant future.
This post was edited on 6/18/21 at 2:18 pm
Posted on 6/18/21 at 2:16 pm to Ross
quote:
Think we're going to retest 31k?
30k before 50k for sure
Posted on 6/18/21 at 2:18 pm to Ross
quote:
People would rather hold on to naked cash?
When the entire financial system is leveraged to the hilt, cash is absolute king during a deleveraging. It actually doesn’t take much to get the ignition switch lit. Between the crypto crash and the meme stocks blowing out shorts, it is possible that it has already started which is why I posted the watch the VIX thread to give a heads up.
Posted on 6/18/21 at 2:23 pm to Ross
I think we’ve been broadly ranging in the 30-39k area while the alt coins “caught up” to btc.
Eth et al were overbought the last time btc tested 31k.
Eth has bled down and corrected a little since then so it will be fascinating to see what happens.
This is why I’m talking more about Eth than btc right now.
The same parameters are still in play for btc. Break below 35k and you’ll probably retest 31. Sustain 42k and you’ll run up to 48.
TA doesn’t matter right now, resistance does. BTC is almost in a pseudo price-finding scenario, IMO.
Eth et al were overbought the last time btc tested 31k.
Eth has bled down and corrected a little since then so it will be fascinating to see what happens.
This is why I’m talking more about Eth than btc right now.
The same parameters are still in play for btc. Break below 35k and you’ll probably retest 31. Sustain 42k and you’ll run up to 48.
TA doesn’t matter right now, resistance does. BTC is almost in a pseudo price-finding scenario, IMO.
Posted on 6/18/21 at 3:19 pm to Lgrnwd
quote:
You are probably going to test $20,000 in the not too distant future.
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