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Bitcoin technical analysis

Quoting TudorIoan
Don't follow fools ! They use to buy bitcoin in days like April 1st when nothing happens in the world except some bullshit crypto formula syndrome and get fleeced by whales right after Crypto fools follow the crypto bubble and get dumped by the side of the road many times over but they're still doing the same thing expecting different results Foooools !
As you know I like your pump and dump argument. I believe it will happen to bitcoin the same way it happened to gold. JPMorgan was the culprit.

Exclusive: JPMorgan dominates gold market with record $1 billion precious metals revenue | Reuters
Quoting TudorIoan
{quote} Ohayo gozaimasu! ...I guess
完璧！どういたしまして
TIME is the most valuable commodity, not money :)
Quoting Hutch
{quote} As you know I like your pump and dump argument. I believe it will happen to bitcoin the same way it happened to gold. JPMorgan was the culprit. Exclusive: JPMorgan dominates gold market with record $1 billion precious metals revenue | Reuters
Yeah, smthing like that.

Crypto shills never tell people about the crypto trilemma or that particular toxic deflationist effect caused by the limited supply (That's why they've dumped the Gold Standard, MOMO's !!) They only blabber against the government like immature teenagers do against any authority and imminent hyperinflation since 2014..

Crypto crooks use to predict 50K, 100K, 1M, based on abstract bullshit or their crystal balls and out of the real market dynamics... Whales pump it up, then the wannabe gamblers use to buy high above 12-15K... There's your bubble game on. Then BAM, whales dump...
Simple, the whales get rich on fools.
Fair game, huh ?!? Whales are smart, fools deserves it, right ?

Funny thing is that bitcoin always fall back to its approximative minimal value below transactions couldn't exist. The value to produce it and move it. No any added value. Empty code.
So after they fleece the retail the whales just keep the scheme alive until dummies forget the lesson and they are ready for a new fresh ride hoping this time will be different ...same thing, different results ?!?

BTW, Konichiwa is not a fool. He's just misinformed but also prudent and moderate.
Member
Quoting Hutch
{quote} As you know I like your pump and dump argument. I believe it will happen to bitcoin the same way it happened to gold.
19500 today, what you think ?
Member
Quoting TudorIoan
{quote} Yeah, smthing like that. Crypto shills never tell people about the crypto trilemma or that particular toxic deflationist effect caused by the limited supply (That's why they've dumped the Gold Standard, MOMO's !!) They only blabber against the government like immature teenagers do against any authority and imminent hyperinflation since 2014.. Crypto crooks use to predict 50K, 100K, 1M, based on abstract bullshit or their crystal balls and out of the real market dynamics... Whales pump it up, then the wannabe gamblers use to buy high above...
Bitcoin is way too low now one of my friend showed me a video with a guy predicting Bitcoin at $300K ... I want his crystal ball
Quoting TudorIoan
{quote} 19500 today, what you think ?
With a high of $19,861 today I wonder who are the buyers pushing the price up. By the way it went up $1,160 today.
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Taken a loss on the short as it is unwise to stand to stand in-front of a herd however irrational they might be! Next time I must remember bitcoin is a momentum game and the momentum is with the bulls at the moment.
Quoting Hutch
{quote} Bitcoin is way too low now one of my friend showed me a video with a guy predicting Bitcoin at $300K ... I want his crystal ball
Is not a crystal ball my friend is price projection based on previous year moves and projected to future similar moves adjusted to velocity and PA !

If "the guy" you are referring to is Tom Fitzpatrick from CitiBank, below I posted a brake down of how I think he got to the $318,000 target for Dec2021.
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Quoting Hutch
{quote} With a high of $19,861 today I wonder who are the buyers pushing the price up. By the way it went up $1,160 today. {image}
If you have to wonder in December 2020 who are the buyers when the biggest players are out there with names and also daily new hedge funds apply to SEC to acquire BTC at premium through GrayScale, it means you are not doing your homework properly !

https://markets.businessinsider.com/...-11-1029849060
Bitcoin will probably become bearish when monetary and fiscal support starts to dry up. I can see 30k but maybe not 300k. If it gets to 300k then something has gone wrong with the world. Saying that if interest rates stay at 0% (i.e. there are no profitable ventures to be had) then people could just put their money into scarcity.
Quoting Steamroller
Bitcoin will probably become bearish when monetary and fiscal support starts to dry up. I can see 30k but maybe not 300k. If it gets to 300k then something has gone wrong with the world. Saying that if interest rates stay at 0% (i.e. there are no profitable ventures to be had) then people could just put their money into scarcity.
Something has gone wrong with the world since long time ago, it's still surprise me how people are totally blind to FIAT and Central Banks moves / manipulations and how they eat their people buying power year by year with their policies but demonize Bitcoin.

FED printed more money since March than in the previous 200 years, let that sink in for few minutes and see how you feel!

Since late April this year I made a test and placed same amount of USD in Bitcoin+Eth+other alts + same amount in physical gold and same amount I left it in USD to watch vs my national currency (is not EUR or some strong economy ).

with Crypto I gained 65%
with Gold I gained 22%
with the USD positions vs my national currency I LOST %8

I'm not going to waste my time educating you guys about Bitcoin, Ethereum and other good crypto projects, but if you don't follow the money or refuse to follow the money, than like in poker " you are the fish at the table ".

Cheers and green pips!
Quoting Steamroller
Taken a loss on the short as it is unwise to stand to stand in-front of a herd however irrational they might be! Next time I must remember bitcoin is a momentum game and the momentum is with the bulls at the moment.
Damn. Who would have thought. Thats the funny thing about trading, if I had taken profit on some offsetting positions earlier in the morning before they started to go against me, I would have held on to my bitcoin position even if it went slightly over 20k. As both positions were going against me I got out.

I bet it goes to my breakeven.
Quoting MisterSpread
{quote} Is not a crystal ball my friend is price projection based on previous year moves and projected to future similar moves adjusted to velocity and PA ! If "the guy" you are referring to is Tom Fitzpatrick from CitiBank, below I posted a brake down of how I think he got to the $318,000 target for Dec2021. {image}
For Bitcoin to go to $318K in the next 12 months our economy and dollar would both have to collapse but this won't happen although the FED is printing like there is no tomorrow. If that happened the $318K price would be because of stagflation so the intrinsic value of Bitcoin would not be the same as a $318K today.
Quoting MisterSpread
{quote} If you have to wonder in December 2020 who are the buyers when the biggest players are out there with names and also daily new hedge funds apply to SEC to acquire BTC at premium through GrayScale, it means you are not doing your homework properly ! https://markets.businessinsider.com/...-11-1029849060
Yes, you are totally right I don't do my homework. I don't read crypto news because, as you very well know, most of it is garbage.
Bitcoin went down $301 today but with the uptrend of the last 3 days the most likely retracement is quite normal.
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Quoting MisterSpread
{quote} Something has gone wrong with the world since long time ago, it's .... e the fish at the table ". Cheers and green pips!
To you sir

Exactly.

They print trash...

We hold Bitcoin

Ohhh my old poster
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Beware of robber banks (RB), bad advisors. ;)
Der Trader All Time Pips: 52,970
Quoting Hutch
{quote} For Bitcoin to go to $318K in the next 12 months our .. K today.
Dumpster

Who said 12 months??

And yes, someday I'll sell part of my Bitcoin at 300k.

Sue me
Beware of robber banks (RB), bad advisors. ;)
Der Trader All Time Pips: 52,970
Quoting TudorIoan
{quote} Yeah, smthing like that. Crypto shills never tell people about.... misinformed but also prudent and moderate.
Dumpooooo

You still lie

Cryyyyy lie
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Beware of robber banks (RB), bad advisors. ;)
Der Trader All Time Pips: 52,970
Quoting Venomousssss
{quote} National governments will not continue to let this go so unregulated. .which is its usefulness. .

I think sub 3000 is first target..then 500.


How's your short??

500
Beware of robber banks (RB), bad advisors. ;)
Der Trader All Time Pips: 52,970
Quoting Hutch
{quote} Yes, you are totally right I don't do my homework. I don't read crypto news because, as you very well know, most of it is garbage.
I see, well I do read and when MicroStrategy announced first their BTC purchase I added to my bags also, and 2nd time they announced I added more.
When PayPal listed on linked a new job opening for their new crypto department I bought more, when they publicly announced they will offer crypto to US clients, guess what? I bought more.
I've been dollar averaging buying Bitcoin, Ethereum and VeChain VET mainly + other smaller ones since late April on important news fundamentally or on important chart levels technically.
I made some mistakes along the way by switching to USDT when I should have bought more cryptos, but I'm learning and I'm in good net profit overall.
By failing to prepare, you are preparing to fail.

Cheers and green pips!
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