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Started By
Message
re: Official CryptoTalk Thread
Posted on 8/15/24 at 8:52 am to Hateradedrink
Posted on 8/15/24 at 8:52 am to Hateradedrink
1
Posted on 8/15/24 at 12:48 pm to tenderfoot tigah
Btc is trading like such a dog right now. People were fading today’s bounce back before it even happened. I’m pretty sure it’s waiting on me to sell before taking off.
This post was edited on 8/15/24 at 12:50 pm
Posted on 8/15/24 at 12:58 pm to beaverfever
quote:
Btc is trading like such a dog right now. People were fading today’s bounce back before it even happened. I’m pretty sure it’s waiting on me to sell before taking off.
Stay strong. You know it's only a matter of time before we are above 100k forever. Other than the US Government selling, the only thing that will hold Bitcoin down is a massive market dump like in 08 and 2020.
Posted on 8/15/24 at 1:02 pm to tenderfoot tigah
Im not selling. I am starting to think we should prepare to hang out around 45-55 for bit. I just wonder where the hell people are putting their money when bonds are soon to be uninvestable and stocks are in a permanent bubble. There aren’t many enticing options and there is still cash everywhere.
This post was edited on 8/15/24 at 1:06 pm
Posted on 8/15/24 at 3:14 pm to beaverfever
David Bailey is claiming they're dumping the silk road coins (that they got for free for dollars that they can print for free).
Lulz
I hope these fiscal geniuses have fun staying poor.
Lulz
I hope these fiscal geniuses have fun staying poor.
Posted on 8/15/24 at 3:24 pm to Art Blakey
Since China and the US both have a very similar stockpile, I can’t imagine either party selling first.
Posted on 8/16/24 at 4:38 pm to beaverfever
Weekend update for fellow astrology enjoyers.
I think the descending channel has been invalidated and we’re range bound between 55-61k on btc.
Lots of options were due to expire today with the max pain price at 60k. Contrary to what that sounds like, if the price is close to the max pain price, that usually results in the least amount of volatility.
There was a bit of concern when btc floated around 57k this morning but it being closer to 60k for expiration helped a bit.
I think the descending channel has been invalidated and we’re range bound between 55-61k on btc.
Lots of options were due to expire today with the max pain price at 60k. Contrary to what that sounds like, if the price is close to the max pain price, that usually results in the least amount of volatility.
There was a bit of concern when btc floated around 57k this morning but it being closer to 60k for expiration helped a bit.
Posted on 8/16/24 at 5:40 pm to Hateradedrink
I have seen a few people on twitter saying the US started selling their BTC, but I'm yet to see the actual transaction. I'm not sure I believe it.
Posted on 8/17/24 at 7:42 pm to tenderfoot tigah
The us government can not sell on coinbase.
They will hold an auction like they always do.
They will hold an auction like they always do.
Posted on 8/19/24 at 5:40 pm to I Love Bama
Posted on 8/19/24 at 6:16 pm to boomtown143
Wasn’t gensler pro-cryptoish before becoming involved with the SEC?
Posted on 8/19/24 at 11:53 pm to Hateradedrink
I think so. He taught a cryptocurrency course at MIT in the past.
Posted on 8/20/24 at 11:33 am to Hateradedrink
Yes, then Warren got a hold of him and likely lined his pockets somehow to be anti
Posted on 8/22/24 at 3:55 pm to TigerTatorTots
Posted on 8/23/24 at 10:08 am to boomtown143
BTC bit into the 62k resistance off Powells comments. It had a sharp retrace to a little below 61k but is bouncing up again and volume is trending up.
There are a bunch of shorts around 62k that are going to get rekt if btc climbs much above it.
There are a bunch of shorts around 62k that are going to get rekt if btc climbs much above it.
Posted on 8/23/24 at 11:07 am to Hateradedrink
I’m surprised it didn’t give way already. The pressure feels like it’s been building up for the last 2-3 days. The bears are on their heels.
I can’t read a chart to save my life though. The 50 day going below the 200 and the price falling below both is a major technical bear sign right? Is that even relevant anymore?
I can’t read a chart to save my life though. The 50 day going below the 200 and the price falling below both is a major technical bear sign right? Is that even relevant anymore?
Posted on 8/23/24 at 11:09 am to beaverfever
EMA crossings are sometimes helpful but you really have to add context from the broader market.
Are you expecting a long-term downturn? The cross is bad.
Are you expecting the up-trend to continue? The cross is probably representative of nearing the end of a correction.
This is because EMA crosses are lagging indicators. You have to understand the market as a whole to use those crosses effectively.
Are you expecting a long-term downturn? The cross is bad.
Are you expecting the up-trend to continue? The cross is probably representative of nearing the end of a correction.
This is because EMA crosses are lagging indicators. You have to understand the market as a whole to use those crosses effectively.
Posted on 8/23/24 at 11:13 am to Hateradedrink
Thanks good info. Yeah I know several technical indicators and strategies separately but putting them together to create an informed opinion has always alluded me.
Posted on 8/23/24 at 11:20 am to beaverfever
I use indicators with the following mindset:
The market is going to do what the market is going to do irrespective of the technical indicators. What those indicators do is provide insight as to when these things may happen and/or trigger points.
But, you have to first have a good idea of “what the market is going to do.”
The market is going to do what the market is going to do irrespective of the technical indicators. What those indicators do is provide insight as to when these things may happen and/or trigger points.
But, you have to first have a good idea of “what the market is going to do.”
This post was edited on 8/23/24 at 11:20 am
Posted on 8/23/24 at 12:07 pm to Hateradedrink
Thats a good take. My main complaint with technical trading (or my perception of it) was always “do you really think the price of xyz is going to give two shits about a technical pattern during a major market event”.
That and my brain explodes when I hear people talk about a technical play on an index. I don’t have any idea how a basket of equities can follow a tradable technical pattern while the contents of that index follow their own patterns.
That and my brain explodes when I hear people talk about a technical play on an index. I don’t have any idea how a basket of equities can follow a tradable technical pattern while the contents of that index follow their own patterns.
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