Crypto trading

[Bingo-Player]

It's definitely possible. Will it happen? Who knows. Some see an extended cycle going into 2023 before hitting it's peak, others see it peaking by April or May.

Right now there are both bull and bear cases.

While the market has been going up lately and setting higher lows, it's also been setting lower highs and unable to break through a bearish trendline from the ATH.

The monthly MACD has crossed bearish for the first time in 19 months and coming down from highly overbought levels in the RSI and is looking at printing an "M" pattern, which is a double top(opposite is a "W"). The base of this "M" is around 12K. Will we get there? I dunno.

There is no reason a pattern "has to" complete, they just often do. On the lower timeframes like the weekly we appear to be in ascending Wedge formation, which is bullish.

Currently we seem to be stuck between the 32-46K range and just going up and down and creating different patterns inside that pattern.

Long-term, highly bullish. One day 100K will be looked at as cheap for BTC. Whether it's 3 years or 8 years or 20 years, that time is 100% coming.

I'm sorry the 6 month chart screams bull trapping

Still waiting for a conducive argument as to why it is going to 100K

Apparently during something like say a "war" it was supposed to be its time to shine and would reach that 100k however
on announcement of invasion it dropped 10% and has been barcoding since

Seems a wonderfull hedge.....against absolutely nothing so far

Yea its probably great bet in a speculative bull market especially in a period when global central banks and governments decided to over inflate every major economy giving any idiot with two brain cells the financial capacity to become a small time "crypto investor"

However the chickens are about to come home to roost and we are about to see just how resilient bitcoin actually is

 

[BackInTheGame78]

I'm sorry the 6 month chart screams bull trapping

Still waiting for a conducive argument as to why it is going to 100K

Apparently during something like say a "war" it was supposed to be its time to shine and would reach that 100k however
on announcement of invasion it dropped 10% and has been barcoding since

Seems a wonderfull hedge.....against absolutely nothing so far

Yea its probably great bet in a speculative bull market especially in a period when global central banks and governments decided to over inflate every major economy giving any idiot with two brain cells the financial capacity to become a small time "crypto investor"

However the chickens are about to come home to roost and we are about to see just how resilient bitcoin actually is

6 month charts in crypto would be like looking at a 20 year chart in stocks. It just isn't really relevant, IMO

 

[jaygreenb]

I'm sorry the 6 month chart screams bull trapping

Still waiting for a conducive argument as to why it is going to 100K

Apparently during something like say a "war" it was supposed to be its time to shine and would reach that 100k however
on announcement of invasion it dropped 10% and has been barcoding since

Seems a wonderfull hedge.....against absolutely nothing so far

Yea its probably great bet in a speculative bull market especially in a period when global central banks and governments decided to over inflate every major economy giving any idiot with two brain cells the financial capacity to become a small time "crypto investor"

However the chickens are about to come home to roost and we are about to see just how resilient bitcoin actually is

It's a great hedge against the financial weaponization of the banking system we have seen the past month in Canada and now Russia. Bitcoin and the rest of crypto are two entirely different subjects. If you can't grasp that and see where this is headed you will have much bigger problems in the future.

 

[jaygreenb]

Impp up over 100% today. It’s the new crypto called oil stocks

Good for investments purposes but this is going to have serious consequences on society. Commodities are going much higher

 

[SargeMaximus]

Good for investments purposes but this is going to have serious consequences on society. Commodities are going much higher

Yeah what do you think I’m invested in since last year?

 

[jaygreenb]

Yeah what do you think I’m invested in since last year?

Hopefully helps you recoup that btc short

 

[BackInTheGame78]

It's a great hedge against the financial weaponization of the banking system we have seen the past month in Canada and now Russia. Bitcoin and the rest of crypto are two entirely different subjects. If you can't grasp that and see where this is headed you will have much bigger problems in the future.

Who the hell looks at a 6 month chart in crypto??

 

[BackInTheGame78]

Impp up over 100% today. It’s the new crypto called oil stocks

If the US was smart they'd start releasing some reserves and subsidizing the US shale drillers to heavily offset what Russia supplies in oil.

At one point the US was supplying the most barrels of oil per month in the world not too long ago when the shale drillers were running fully.

There is no reason why the US can't easily replace the oil we get from Russia.

 

[jaygreenb]

Who the hell looks at a 6 month chart in crypto??

Almost every major player in finance and tech who was a naysayer has conceded this is the future. Starting to think people who still can't accept it are mentally disordered. Granted a lot of cryptos are actually a ponzi but denying there isn't a use case for rules based secure decentralized money and financial services is insanity. The past 2yrs have basically been a giant ad campaign by governments and central banks.

 

[BackInTheGame78]

Almost every major player in finance and tech who was a naysayer has conceded this is the future. Starting to think people who still can't accept it are mentally disordered. Granted a lot of cryptos are actually a ponzi but denying there isn't a use case for rules based secure decentralized money and financial services is insanity. The past 2yrs have basically been a giant ad campaign by governments and central banks.

My point was that a 6 month chart in crypto is like 20 years in stocks. It's irrelevant in trying to determine anything.

 

[DEEZEDBRAH]

It's one of those times that I really have no clue what the market is going to do, nothing would surprise me. PTSD from 2018 just makes me lean bear to be mentally prepared for a longer duration haha

Same. I wish I had gone in harder when there was the 1st meeting with the fed. I did a bit but I expected a big crash. I still do. Got dry powder ready to go. It eats away at me with the current level of inflation.

 

[DEEZEDBRAH]

Almost every major player in finance and tech who was a naysayer has conceded this is the future. Starting to think people who still can't accept it are mentally disordered. Granted a lot of cryptos are actually a ponzi but denying there isn't a use case for rules based secure decentralized money and financial services is insanity. The past 2yrs have basically been a giant ad campaign by governments and central banks.

If you have been watching what's gone on the past years, crypto has been the ultimate resource. Particularly with the draconian nature's of most world government.

 

[Bingo-Player]

. The past 2yrs have basically been a giant ad campaign by governments and central banks.

To people that understand what they are doing yea

Problem is 80% of the population don't they just do whatever their governments and national media tell them most dont even understand what a fiat currency is let alone DEFI

The elite have spent millennia building this system they are not going to allow a renegade decentralised currency to threaten it

It has been allowed to get to this stage for a reason possibly by accident but i am far more skeptical and believe it is by design

 

[SargeMaximus]

Hopefully helps you recoup that btc short

Lol it was small just to test my theory. Meanwhile anyone in the oil play HUSA made 494% in a single day yesterday

 

[SargeMaximus]

If the US was smart they'd start releasing some reserves and subsidizing the US shale drillers to heavily offset what Russia supplies in oil.

At one point the US was supplying the most barrels of oil per month in the world not too long ago when the shale drillers were running fully.

There is no reason why the US can't easily replace the oil we get from Russia.

Yup. HUSA up 494% yesterday in a single day

 

[BackInTheGame78]

Well then...that was a nice bounce...

 

[jaygreenb]

To people that understand what they are doing yea

Problem is 80% of the population don't they just do whatever their governments and national media tell them most dont even understand what a fiat currency is let alone DEFI

The elite have spent millennia building this system they are not going to allow a renegade decentralised currency to threaten it

It has been allowed to get to this stage for a reason possibly by accident but i am far more skeptical and believe it is by design

That's anything, there are people that do and people that don't. Just because some do not it doesn't change it's legitimacy.

Looks like regulations are embracing it. It is too embedded into society and powerful people/corps to stop now, cat is out of the bag.

 

[Bingo-Player]

Looks like regulations are embracing it.

I wouldn't bank on it , it's no secret fiat is going to collapse soon inflation is out of control and they can't / don't know how to stop it

They want CBDC's in so need a regulatory framework in for them not to benefit us

The comments made from the SEC were vague and no committal i would wait to read the entire framework before people start singing from the rooftops that the US government is backing bitcoin and sh*tcoins


Just wait ....

 

[BackInTheGame78]

I wouldn't bank on it , it's no secret fiat is going to collapse soon inflation is out of control and they can't / don't know how to stop it

They want CBDC's in so need a regulatory framework in for them not to benefit us

The comments made from the SEC were vague and no committal i would wait to read the entire framework before people start singing from the rooftops that the US government is backing bitcoin and sh*tcoins


Just wait ....

It doesn't matter. It won't matter what happens, you will still find reasons to trash it. Your bias is ridiculous to be honest and the more dumb sh!t you come up with, the more historically idiotic you will look in 10 years.

 

[SargeMaximus]

All it takes is for the government to control your internet. Then they can take your coins whenever they please. No thanks