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Eric123

Epic Pennant on BTC Chart

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On 3/24/2020 at 2:12 AM, Julian_Williams said:

Am I right in understanding crypto is gaining whilst stocks continue to crash?  This would be very good news for holders of crypto since it is likely that cash rich investors will start putting a bigger proportion of their money where it is likely to gain value.

No, there might be a few cases where crypto gains against other assets, but in general it follows the herd. Be it with more pronounced swings.

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Day 14 of the Apocalypse.

Stocks up again 3rd Day.

Bitcoin Flat/Down again.

Bitcoin's Price is beginning to flatten out.  Actually to me it looks like the price is being constrained.  Chart wise everything is bearish as far as the 50/100/200 EMA's are concerned. The 5 day price collapse from March 7th to March 12th which dropped the price nearly by half dropped all of the averages off a cliff.  The Bollinger Bands  although still wide open are at least beginning to tighten.  Will they tighten maybe for a week or so then make a big move,? that's usually what happens.

I'm not overly concerned about the hash rate collapse.  https://www.blockchain.com/en/charts/hash-rate  As we have seen drops of 40% at lease twice before.   We have about 48 days till the halving.

Obviously I am looking at the price collapse as a buying opportunity.  picked up some more bitcoin yesterday and might add some more today or tomorrow.

Looking long term, since the bear market started in 2018  I have increased my holdings in Bitcoin  9%, XRP  36% and I was able to open a position in LTC - So that is the bright spot to the bear market.

Just keeping the faith and adding to the stacks.

 

3 26 20.png

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1 hour ago, Eric123 said:

Day 14 of the Apocalypse.

Stocks up again 3rd Day.

Bitcoin Flat/Down again.

Bitcoin's Price is beginning to flatten out.  Actually to me it looks like the price is being constrained.  Chart wise everything is bearish as far as the 50/100/200 EMA's are concerned. The 5 day price collapse from March 7th to March 12th which dropped the price nearly by half dropped all of the averages off a cliff.  The Bollinger Bands  although still wide open are at least beginning to tighten.  Will they tighten maybe for a week or so then make a big move,? that's usually what happens.

I'm not overly concerned about the hash rate collapse.  https://www.blockchain.com/en/charts/hash-rate  As we have seen drops of 40% at lease twice before.   We have about 48 days till the halving.

Obviously I am looking at the price collapse as a buying opportunity.  picked up some more bitcoin yesterday and might add some more today or tomorrow.

Looking long term, since the bear market started in 2018  I have increased my holdings in Bitcoin  9%, XRP  36% and I was able to open a position in LTC - So that is the bright spot to the bear market.

Just keeping the faith and adding to the stacks.

 

3 26 20.png

Thank you.

Does anyone account for Tether during this stabilization?  I still don't buy the safe haven argument, at least not in the short term foreseeable future. 

https://www.newsbtc.com/2020/03/18/tether-is-now-printing-millions-and-thats-huge-for-bitcoin/

"It now appears that Tether has issued a whopping $161 million worth of USDT over the past 24-hours, putting the total number of new USDT issued over the past three months at $627 million."

Is this the Crypto Stimulus package?  

 

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You're Welcome.

Tether has become a bit of a dirty word hasn't it.  Personally, I think the NYAG has misplaced motivations regarding their prosecution of their case against Tether which I have stated previously and that Tether is not fraud people make it out to be.  Obviously time will tell but Tether has been doing business through out the case and the suspicions and people continue to use it. 

That aside though, the level of "Crypto Journalism" is  surprisingly low.  The article's whole basis for the claim and the headline, is a post on Telegram.  The "journalist" doesn't state that he even attempted to contact Tether for comment or to find out if the Tether was issued legitimately.    

"According to data recently shared on Telegram by Unfolded – a Bitcoin and crypto analytics group – Tether has increased the circulating supply of USDT by an astonishing 13.3% over the past three months, with an additional $161 million worth of tokens being minted over the past 24-hours."

I"m not saying the the claim isn't true just that it seems that most articles and headlines are based on nothing more than a Telegram, Tradingview or Twitter post.  

What is "crypto news worthy" is very suspect.

"Bitcoin to Crash to $1"  claims poopflingingbaboon on Twitter. 

 

 

 

 

 

 

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14 hours ago, Eric123 said:

You're Welcome.

Tether has become a bit of a dirty word hasn't it.  Personally, I think the NYAG has misplaced motivations regarding their prosecution of their case against Tether which I have stated previously and that Tether is not fraud people make it out to be.  Obviously time will tell but Tether has been doing business through out the case and the suspicions and people continue to use it. 

That aside though, the level of "Crypto Journalism" is  surprisingly low.  The article's whole basis for the claim and the headline, is a post on Telegram.  The "journalist" doesn't state that he even attempted to contact Tether for comment or to find out if the Tether was issued legitimately.    

"According to data recently shared on Telegram by Unfolded – a Bitcoin and crypto analytics group – Tether has increased the circulating supply of USDT by an astonishing 13.3% over the past three months, with an additional $161 million worth of tokens being minted over the past 24-hours."

I"m not saying the the claim isn't true just that it seems that most articles and headlines are based on nothing more than a Telegram, Tradingview or Twitter post.  

What is "crypto news worthy" is very suspect.

"Bitcoin to Crash to $1"  claims poopflingingbaboon on Twitter. 

 

 

 

 

 

 

I've also been having doubts about the 'Tether is a scandal' thing. Granted, they had to admit it was not backed by FIAT 100% anymore. But arguments were made that just before and during bullruns the amount of tether was growing and used to pump the market. But isn't it logical that during bullruns the total amount grows? Volumes rise so more tether is needed for allround trading. Also some people prepare to buy in by converting FIAT to tether so they can buy in quickly when needed.

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Day 15 of the Apocalypse.

Stocks are down big at the moment after being up huge the last three days.  Next week will be big virus wise.  There should be dramatic increases in the number in the US, mainly due to more testing and the social isolation policies won't really start to take effect until the end of next week so the wave should increase until then and then hopefully start to decrease. 

If Bitcoin stays in this range give or take 2% the Bollinger bands will tighten dramatically over the next few days - then flatten - then breakout.

The hash rate dropped from 108,000,000 TH/s to 75,000,000 TH/s  then recovered to 112,000,000 TH/s - which it seems could be more from how the hash rate is calculated (ie a slow block) rather than miners actually being turned on and off. But still nice to see an uptick.

https://www.blockchain.com/en/charts/hash-rate

 

I kinda want to keep buying everything.  I want to pick up more Bitcoin - more XRP - more LTC.  I want to keep taking advantage of this sale but like everyone I have my constraints as well. 

@Caracappa  I guess - But it's kinda a yes and no.  

https://cryptopotato.com/breaking-tether-silently-updates-its-terms-usdt-may-not-be-100-backed-by-fiat/

Tether claims to be backed 100% by $1 value but not necessarily by dollars.

Anyway it seems like this would be an area where another company could just swoop in and take over Tether's business if it was so fragile.  The fact that no one has and Tether is still around leads me to believe they are legit. 

By the way have personally have never used/owned any Tether or any stable coin for that matter. 

 

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as expected , we should go down to 6000-6200$ . if we go under that , then plans change and we may revisit the 5200$ , 4500$ or at worst 3500$

 

6200$ tested , now we should go up to 7200$ in the next days then 7800-8000$

Edited by Baka

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14 minutes ago, Baka said:

as expected , we should go down to 6000-6200$ . if we go under that , then plans change and we may revisit the 5200$ , 4500$ or at worst 3500$

 

6200$ tested , now we should go up to 7200$ in the next days then 7800-8000$

Yup, XRP and the market completed their dance as expected. The usually pump/short rally followed by a nice healthy drawdown. Who knows the rhyme or reason why the market does that during downtrends. 

I'll continue watching as usual.

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4 minutes ago, AlejoMoreno said:

Yup, XRP and the market completed their dance as expected. The usually pump/short rally followed by a nice healthy drawdown. Who knows the rhyme or reason why the market does that during downtrends. 

I'll continue watching as usual.

making profit , it's that simple. 

But honestly , it's getting hard for bears to make much money atm , they ll search for the 8000$ because there , there is $$$ to make

it went at the exact numbers I planned, I sold at 6800$ days ago because I knew(never 100% ofc but was my trade plan) it would go down to 6000 , I rebought at 6100$ , resold at 6900$ and was waiting for this price , 6270$ exactly to rebuy.

Now we need to reach 7200$ and 7800$ for more profits.. 

The night is not over yet , if we go under 6000$ then buy price is targeted at 5200$

Edited by Baka

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Day 16 of the Apocalypse

Well so much for staying with 2%.  of $6,700.  We got a 10 minute take down which is causing a reverse Bart Simpson pattern.  Obviously I think this is a good time to buy.  XRP had quite a pullback so now might be a good entry for that too.  

 

 

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Day 17 of the Apocalypse 

6,000 has been holding up as the bottom for the recent Bart Simpson pattern bitcoin is in. Waiting for the pattern to complete which should put the price back above $6,800. 

As of today Bitcoin is a month and a half from the halving.  

 

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