Eric123 Posted March 8, 2022 Author Share Posted March 8, 2022 The Lower Down Trend Line seems to be holding. 19 hours ago, BillyOckham said: Absolutely anything OTHER than the native fiat currency in those countries would have been a hedge. USD for instance. Not exactly - If you were in Lebanon you would have been much better off hedging with Bitcoin than with Dollars held in the bank. dtpace 1 Link to comment Share on other sites More sharing options...
Coingecko Posted March 8, 2022 Share Posted March 8, 2022 21 hours ago, BillyOckham said: In my opinion ‘Bitcoin is a hedge’ died when the correlation to stocks became clear. Agreed. The correlation has been growing steadily. (source: https://www.metagaming.com/2022/02/23/bitcoin-correlation-with-sp-500-hits-ath/) Link to comment Share on other sites More sharing options...
Julian_Williams Posted March 9, 2022 Share Posted March 9, 2022 On 3/7/2022 at 8:14 PM, BillyOckham said: I really appreciate your view and updates, but I can’t agree with this statement since that is not a ‘bitcoin’ property. Absolutely anything OTHER than the native fiat currency in those countries would have been a hedge. USD for instance. It’s therefore not valid to claim Bitcoin is a hedge when you have to do it only in these very specific instances, and when absolutely anything would have been a hedge. So I don’t think that is a valid point. In my opinion ‘Bitcoin is a hedge’ died when the correlation to stocks became clear. Crypto definitely will be a hedge, like gold. But it is also an unknown hedge that might out-perform or underperform other hedge option; meaning it would be unwise for a fund manager to use crypto exclusively, much better 20 % Crypto 505 precious metals 30% property. Then there is the question which crypto; again a diversified basket. For myself 100% crypto but no BT or LubinCoin, but lots of utility coins like XRP, ADA, QNT, XDC etc. Chookstar, woodman_73, dtpace and 1 other 4 Link to comment Share on other sites More sharing options...
Eric123 Posted March 9, 2022 Author Share Posted March 9, 2022 Bitcoin is back up above the Down Trend Lines the move caused by the Executive Order leaked last night and released this morning. The order had the market spooked and as most know uncertainty is the worst thing for a market. Currently Bitcoin is up 3.5k and we got a 7k+ move (intra day) on Feb 28. Eventually we will get that 10k+ green candle and then eventually they will become common. Nat99, dtpace, Chookstar and 1 other 3 1 Link to comment Share on other sites More sharing options...
Coingecko Posted March 10, 2022 Share Posted March 10, 2022 BTC is down 7% on the daily, losing most ground it gained yesterday. Are we going to break downward and test the 37k$ resistance? I wouldn't be surpsised. Link to comment Share on other sites More sharing options...
Eric123 Posted March 10, 2022 Author Share Posted March 10, 2022 The upper Down Trend Lines have been support for Bitcoin's price. dtpace 1 Link to comment Share on other sites More sharing options...
Eric123 Posted March 11, 2022 Author Share Posted March 11, 2022 The Down Trend Lines are still provided "some" support for Bitcoin's Price. dtpace and DannyRipple 2 Link to comment Share on other sites More sharing options...
Eric123 Posted March 13, 2022 Author Share Posted March 13, 2022 Upper Down Trend Line is still holding for Bitcoin dtpace 1 Link to comment Share on other sites More sharing options...
BillyOckham Posted March 13, 2022 Share Posted March 13, 2022 8 hours ago, Eric123 said: Upper Down Trend Line is still holding for Bitcoin Isn’t that a bad thing? You say it like it’s good. If it continues to ‘hold’ that means the trend is still in play and it’s direction is down… I would prefer to hear that ‘we left the downtrend line in the past’. Digitall and WarChest 2 Link to comment Share on other sites More sharing options...
Eric123 Posted March 14, 2022 Author Share Posted March 14, 2022 The Down Trend Line is still holding as support for bitcoin's price. 18 hours ago, BillyOckham said: Isn’t that a bad thing? You say it like it’s good. It's not great, but it's better to be above it than below it. BillyOckham, dtpace and mambli 2 1 Link to comment Share on other sites More sharing options...
Troote Posted March 14, 2022 Share Posted March 14, 2022 1 hour ago, Eric123 said: The Down Trend Line is still holding as support for bitcoin's price. It's not great, but it's better to be above it than below it. Depends on what line you look at. On my charts, we are definitely "below" it. We've been tracking to the downside for 4 months. No crazy explosions in the crypto space like we had in NFTs or other new projects back in the summer. Look at the weekly chart. Back in June/July, all the wicks were to the downside (all price decreases were pushed back up). These days, it's the other way round. The wicks are on the upside (any price increase is pushed down). Not looking too good, my friend. BillyOckham, QWE and Coingecko 3 Link to comment Share on other sites More sharing options...
xrp-nuke Posted March 15, 2022 Share Posted March 15, 2022 20 hours ago, Troote said: Depends on what line you look at. On my charts, we are definitely "below" it. We've been tracking to the downside for 4 months. No crazy explosions in the crypto space like we had in NFTs or other new projects back in the summer. Look at the weekly chart. Back in June/July, all the wicks were to the downside (all price decreases were pushed back up). These days, it's the other way round. The wicks are on the upside (any price increase is pushed down). Not looking too good, my friend. You can not go against "The Cycle" Link to comment Share on other sites More sharing options...
Eric123 Posted March 15, 2022 Author Share Posted March 15, 2022 Bitcoin above the down trend lines on the daily chart. 21 hours ago, Troote said: Look at the weekly chart. On my chart on the weekly Bitcoin has broken through. Link to comment Share on other sites More sharing options...
JASCoder Posted March 16, 2022 Share Posted March 16, 2022 Interesting… So I’d expect: Lower supply == higher price volatility to demand spikes Quote Coinbase Has Its Lowest Balance of Bitcoin (BTC) Since Bull Market Top of 2017: Glassnode https://dailyhodl.com/2022/03/15/coinbase-has-its-lowest-balance-of-bitcoin-btc-since-bull-market-top-of-2017-glassnode/ Link to comment Share on other sites More sharing options...
JASCoder Posted March 16, 2022 Share Posted March 16, 2022 ( follow up to previous post ) Scroll down to the white chart at bottom “Bitcoin: Illiquid Supply Shock Ratio” And note the purple line now and at the big 2017-2018 big price spike … https://dailyhodl.com/2022/03/15/crypto-traders-are-bullish-on-bitcoin-xrp-and-binance-coin-but-bearish-on-one-large-cap-altcoin-santiment/ retryW and Eric123 2 Link to comment Share on other sites More sharing options...
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