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Epic Pennant on BTC Chart


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So the bull market will continue well into 2022. 

Confirmed. Big time.

Not much of a difference from 2017. BTC price is running even less than the same period in 2017. It shows more volatility, bigger amplitude. More money to lose, more money to win, if you trade.

I am betting BTC wicks to 650k this round 

What say you? @Plikk@automatic @Eric123

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Posted (edited)
4 hours ago, Trentsteel said:

You could make some good money off of very little money @100-1. 
 

...You could also lose everything ...

Invest $100 

+1%  return becomes $200  -  makes 100% of your initial investment.

-1%   return becomes $0      - loses your entire initial investment.

2x or even 3x is a bit more reasonable risk to take for a gambler who doesn't want to bet everything. 100x is basically like a lottery ticket i.e. going for broke .. so you only invest an amount of which you're willing to lose 100% with a very high rate of probability.

Edited by richxrp
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Posted (edited)
24 minutes ago, MQB said:

So the bull market will continue well into 2022. 

Confirmed. Big time.

Not much of a difference from 2017. BTC price is running even less than the same period in 2017. It shows more volatility, bigger amplitude. More money to lose, more money to win, if you trade.

I am betting BTC wicks to 650k this round 

What say you? @Plikk@automatic @Eric123

I think that target is very unlikely as is the bullrun continuing wel into 2022, more like a top in nov/dec or maybe early 2022 of we’re lucky IMO. 
 

I like the 4y cycle theory and S2F model, which could see BTC between 180-300k or so, which is still a high but more probable target IMO. Mainly because fib target of BTC swing high/low is 180k right now and giant fib extension like Doge pulled off would bring BTC to about 300k

Edited by Plikk
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26 minutes ago, richxrp said:

...You could also lose everything ...

Invest $100 

+1%  return becomes $200  -  makes 100% of your initial investment.

-1%   return becomes $0      - loses your entire initial investment.

2x or even 3x is a bit more reasonable risk to take for a gambler who doesn't want to bet everything. 100x is basically like a lottery ticket i.e. going for broke .. so you only invest an amount of which you're willing to lose 100% with a very high rate of probability.

Precisely, that’s why I could see a gambler willing to try those odds. One good carful timed trade into a 20% pump..... not something I would want to do, although an hundred quid attempt wouldn’t be disastrous 😂😂

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41 minutes ago, MQB said:

So the bull market will continue well into 2022. 

Confirmed. Big time.

Not much of a difference from 2017. BTC price is running even less than the same period in 2017. It shows more volatility, bigger amplitude. More money to lose, more money to win, if you trade.

I am betting BTC wicks to 650k this round 

What say you? @Plikk@automatic @Eric123

Right now the daily RSI on BTC is well below 50.  Thats typically bearish.  Its below its 200 EMA - bearish.  This is the 3rd time its soundly been rejected above 40K.  

An even more ominous problem can be seen on the monthly chart.  The first red monthly candle in April was a Judas candle which is a bearish reversal signal.   I'd say it was accurate.  May's monthly candle (as it stands now) is even more bearish if it closes as it is now.  As it stands now, we are seeing Mar-May forming an Evening Star Pattern which is very bearish.  May needs to close above 45k to make a statement that the bulls fought back the Evening Star Pattern and the body of the candle is <50%.  I'm not predicting one way or another, but I'm saying that I dont believe the bull market is "Confirmed big time".  

Watching the price action, there are a lot of sellers between 39-40k.   BTC hasnt even seen what's to come above that.  The number of whales that were dumping BTC starting in February is fact, and there is no fact that the number of whales isnt still selling.  The price action I'm seeing shows that big money is still selling.  Again, I'd love to agree, but this isnt what the charts or the price action is saying right now.  Its going to take big money to continue to push this through the sellers.

If it does break 45k, I'll be buying.

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2 hours ago, MQB said:

So the bull market will continue well into 2022. 

Confirmed. Big time.

Not much of a difference from 2017. BTC price is running even less than the same period in 2017. It shows more volatility, bigger amplitude. More money to lose, more money to win, if you trade.

I am betting BTC wicks to 650k this round 

What say you? @Plikk@automatic @Eric123

It's possible, some have called for higher.  I think $400k personally. 

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Posted (edited)
7 hours ago, CryptoPitbull said:

I guess I don't really understand leverage too much. If you use little money, the rest is collateral so you don't get liquidated. Wouldn't that be the same as using 100 percent of your stack with no leverage but no risk of liquidation? Also, some exchanges start the liquidation process before you get to using the full 100 percent collateral ( kraken for example, but i think they only go to 5x).

No. It's precisely because you don't have enough of your own money available that you need to use leverage (other people's money) to amplify your profits. The amount of leverage you use magnifies your gains on the upside but also does that on the downside.  A 100x leverage will let you double your capital with a 1% gain but lose all of it with a 1% loss.  The LTV (Loan To Value) ratio dictates how much collateral (which may be in the form of other assets) that you need to put up and is a measure of how large a safety net your lender has before you get liquidated if you don't maintain your LTV ratio.

Edited by richxrp
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5 minutes ago, richxrp said:

No. It's precisely because you don't have enough of your own money available that you need to use leverage (other people's money) to amplify your profits. The amount of leverage you use magnifies your gains on the upside but also does that on the downside.  A 100x leverage will let you double your capital with a 1% gain but lose all of it with a 1% loss.  The LTV (Loan To Value) ratio dictates how much collateral (which may be in the form of other assets) that you need to put up and is a measure of how large a safety net your lender has before you get liquidated if you don't maintain your LTV ratio.

I guess I was confused because I know of people using very high leverage (like 100x) while only trading 1 percent of their portfolio. I was wondering why they wouldn't just trade 100 percent of it so as to eliminate the risk of liquidation. I am not really a trader so I wasn't thinking of the possibility that they have funds spread across multiple exchanges and are in multiple trades at the same time. It was short sighted on my part and I appreciate your explanation.

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6 minutes ago, Eric123 said:

Bitcoin is following the Trend Line up.  IMO it's just a matter of days before Bitcoin gets a violent move up with a HUGE green candle ($10k+), I'm gonna guess buy the end of the month.

5 27 2021.png

Tomorrow

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19 minutes ago, Wolfaolyth said:

Tomorrow

I'm glad we are recognizing BTC because XRP isnt going anywhere without it being stable (sideways or up) OR a settlement with the SEC.  For now, I'd just like to see XRP climb back into a base above 1.4 or better 1.6.    The big question is where is BTC going?  I know there is a lot of bullishness, but there are some metrics that have to change.  BTC has to break through 42K and preferrably 45k.  This 40-42K range is tough going.   

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1 hour ago, BarnBuilder said:

I'm glad we are recognizing BTC because XRP isnt going anywhere without it being stable (sideways or up) OR a settlement with the SEC.  For now, I'd just like to see XRP climb back into a base above 1.4 or better 1.6.    The big question is where is BTC going?  I know there is a lot of bullishness, but there are some metrics that have to change.  BTC has to break through 42K and preferrably 45k.  This 40-42K range is tough going.   

Well bitcoin hardly has support around thus level. It did go from the 30 ranges to 50+ very quickly. 

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