The Bitcoin (BTC) thread

Deepdiver

Crow
Gold Member
BTC Does what it is supposed to do... As I wrote upthread we were due and would do an ABC corrective leg in a classic A to the 100 DMA (Orange) within ATR Range of $3K to $4K daily then a B leg retrace back up to the 50DMA Yellow $56.9 merged with the 20DMA Blue at $56.9K for a $57K Mid Red Channel Psychological level 1K Target prior to the classic longer C leg retrace to the the 200DMA which interestingly has moved up a full Fibonacci Level from .618 at $31K to the .5 Fibonacci Retrace level at $37K with a similar angle to the A Leg to reach the target in the Middle of May roughly May 15th.

As previously mentioned the first Major 5 Wave Shown in light Green and now this Major ABC retrace are fractal in nature and represent the Wave 1 and Wave 2 of a much larger Degree Fractal Wave. This is where it gets very exciting as the turn from a retracing large wave 2 into the even larger longer and impulsing wave 3 (Typically 1.618 to 2.618 times the large Green Wave 1 through 5 now Primary Wave 1) is where some truly strong profit generation will occur both for the CME Futures traders and the smart Fractal Wave aware BTC swing cycle Hodlers... who will sell at the top of B and buy back in at the bottom of C and then Hodl like their financial futures depend upon it... Fibonacci was a Genius and Maths do not lie.

HTH...

Hint: Wave 1 start 10K to Wave 5 end 65K = 55K times 1.618 = 89K
Waves ABC target end = 37K + 89K = 126K Primary Wave 3 Target +/- the Daily ATR Range.

1619637713839.png

Live Chart Link:
 
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Ubermensh

Chicken
Well. Recent fluctuations in price were highly disturbing. I want it to fall as low as possible so I can finally buy a decent GPU, but no one actually knows whether it will worth 1 cent tomorrow or will double in price. But one thing known for sure is that it is possible now to more or less predict altcoins by Twitter mentions. All the signs show that it's time now figure out how to buy how to buy litecoin . There's an article there, nothing criminal.
 

fireshark

Robin
Excellent article, especially to provide some much needed nuance to the BTC blackpillers.

 

Deepdiver

Crow
Gold Member
Micro-Bitcoin Futures...

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Blade Runner

Pelican
Orthodox
What happens in futures exchanges for non perpetual futures, like quarterly futures, regarding the closing of the position at the specified time? Do they auto close your position if you don't cover it at the agreed on contract/lot date??
 

Zanardi

Woodpecker
Just some random facts:

  1. Bitcoin's price is the same as it was at the end of February. Yes, a lot of variation but in the end it is the same price;
  2. According to Coinbase, the ratio of buyers vs sellers is 54/46. When bitcoin was at its highest it was about 65/35;
  3. A part of this bitcoin surge began at the second wave of coronavirus pandemic (fake or not). Now, the pandemic is slowly retreating;
  4. Another part of this surge was caused by large scale decisions, like Tesla buying bitcoin, followed by a bunch of sheep doing the same. Of course, these events are few and far between;
  5. I didn't see any more news in the Romanian MSM about bitcoin (perhaps the same thing holds true in other countries)
Can these facts signal the beginning of a crash?
 
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Stats

Woodpecker
unlikely. imo we are 2-4x for the rest of the year. then depends how many corrporations are buying what the peak will be and how shallow the drop after peak will be
 

AntoniusofEfa

Kingfisher
Just some random facts:

  1. Bitcoin's price is the same as it was at the end of February. Yes, a lot of variation but in the end it is the same price;
  2. According to Coinbase, the ratio of buyers vs sellers is 54/46. When bitcoin was at its highest it was about 65/35;
  3. A part of this bitcoin surge began at the second wave of coronavirus pandemic (fake or not). Now, the pandemic is slowly retreating;
  4. Another part of this surge was caused by large scale decisions, like Tesla buying bitcoin, followed by a bunch of sheep doing the same. Of course, these events are few and far between;
  5. I didn't see any more news in the Romanian MSM about bitcoin (perhaps the same thing holds true in other countries)
Can these facts signal the beginning of a crash?
Why would it? I see bitcoin (and Monero) being accepted in more and more shops. Every alternative media Journalist accepts Bitcoin. It is a store of value that will go up in its value relative to the USD/EUR due to a massive increase in the money supply.

I find it suspicious that BTC dropped just before JPM started offering crypto based wealth management products.
 
General question - what is to stop banksters from:
corning/controlling the ledger market?

we know that those who control wall street and now the megaphone of mass media and social media do so by controlling the bottlenecks or regulatory oversight - I can't imagine those same people would let so much control slip through their fingers and if bitcoin does have a vulnerability it would seem to be ledger control would be it.
 
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