Epic Pennant on BTC Chart

[Eric123]

Bitcoin's price moved above the third down trend line yesterday and today the price is breaking through the top bollinger band.  Only one remaining down trend line, which is at about $52,000 then the next target is the All Time High (4/14/21 intra day $64,895) (4/13/21 close $63,564). Got a decent green candle yesterday (on low volume though)  Still waiting on a big green candle $10k+ on high volume.

[BarnBuilder]

One last step of the Wycoff accumulation.  Chop between 39-42K before the final markup phase.  Personally, I'm going to add after the price retraces from 42.5K and  holds between 39-40K.  That will be complete my accumulation. 

 

 

 

 

[JASCoder]

12 hours ago, Neurotoxin said:

Question is, will it hold and push further, or will it pulse back down to 30k? 

Coin Telegraph had a short write-up on Grayscale's 16,000 BTC "unlocking" coming up in July, and how it will affect BTC volatility - also they've included an interesting chart on the fluctuations of the GBTC price premiums to the market price :

https://cointelegraph.com/news/bitcoin-sell-pressure-may-hit-zero-in-july-thanks-to-grayscale-s-giant-16k-btc-unlocking

[Eric123]

The 5 Day EMA is about to make a bullish cross of the 22 Day EMA on the Bitcoin Chart.

This interval seems to be very telling of short term moves (couple of weeks to couple of months).  It bodes well for Bitcoin's price over the next few weeks.

[Nat99]

46 minutes ago, Eric123 said:

The 5 Day EMA is about to make a bullish cross of the 22 Day EMA on the Bitcoin Chart.

This interval seems to be very telling of short term moves (couple of weeks to couple of months).  It bodes well for Bitcoin's price over the next few weeks.

any views on the XRP chart?

Thanks!

[Eric123]

1 minute ago, Nat99 said:

any views on the XRP chart?

I think the XRP chart is unimportant.  XRP with get dragged up as bitcoin's price rises and it will move up on positive lawsuit news.  

[Neurotoxin]

14 hours ago, JASCoder said:

Coin Telegraph had a short write-up on Grayscale's 16,000 BTC "unlocking" coming up in July, and how it will affect BTC volatility - also they've included an interesting chart on the fluctuations of the GBTC price premiums to the market price :

https://cointelegraph.com/news/bitcoin-sell-pressure-may-hit-zero-in-july-thanks-to-grayscale-s-giant-16k-btc-unlocking

Glad I’m starting to see a shift in the media from straight FUD 24/7 to getting some bullish news popping up more and more. Seems like plenty of whales have accumulated enough and feel like making their bags appreciate. 

[Eric123]

More general sideways movement for Bitcoin.  I'm still waiting on the $10K+ day.  If I had to guess I'd say it will probably go from $42k-$52k.

BTW as far as the lawsuit goes the discovery extension was expected,  extensions are like extra points after a touchdown, they are pretty much automatic.  

As we get closer to the Spark token distribution, I'm actually thankful that the SEC suit isn't resolved.  I'd rather not sell any Spark, but because distribution is a taxable event here in the US, (as ordinary income, which it shouldn't be) at current prices ( https://www.livecoinwatch.com/price/Spark-FLR ($1.68) I'm going to have to sell some to cover the taxes.  (which I don't want to do).  I'm hoping the Flare network launches and the 15% distribution happens before the SEC suit is settled.

I would rather Spark have a very low price on distribution.  Then go up after distribution.  I'd rather pay Capital Gains tax (and choose when to take the gain) than be forced to have an taxable income event.   

Plan out your tax strategy.  You don't want to get stuck with a bill you can't pay.

[4Fingers]

2 hours ago, Eric123 said:

but because distribution is a taxable event here in the US, (as ordinary income, which it shouldn't be) at current prices ( https://www.livecoinwatch.com/price/Spark-FLR ($1.68) I'm going to have to sell some to cover the taxes.  (which I don't want to do). 

 

Do we expect this price of $1.68 to be a reliable estimate for the price at go-live/first distribution? 

[Begofend]

The distribution is not a taxable event, flare said this last week. When they release the token it will be worth 0, you then exchange it for FLR. The IOU being traded is not the token you will be receiving. 

[JASCoder]

36 minutes ago, Begofend said:

The distribution is not a taxable event, flare said this last week. When they release the token it will be worth 0, you then exchange it for FLR. The IOU being traded is not the token you will be receiving. 

In the article I posted yesterday, he points out that for USA taxpayers, the airdrops may be considered a gift from a foreign source - and treated as a gift. Which has its own rules and thresholds of tax liability and reporting requirements.  

It's well worth the read-thru if you are in the USA. 

[Eric123]

This video provides some good info.

https://www.youtube.com/watch?v=5Css3GzoO4s

 

[NMNR]

$41k broken. Key battleground for support.

[Nat99]

3 hours ago, Eric123 said:

As we get closer to the Spark token distribution

Like, I still don't know how this is gonna look like. I provided the ETH address and signed the message from my ledger S. Then what? Spark is not ERC20, right? So, how will this thing appear? When will I actually get to see my Spark tokens?

Do you know how this will all work?

[Nat99]

1 minute ago, NMNR said:

$41k broken. Key battleground for support.

and the battle against resistance is 49k