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Epic Pennant on BTC Chart


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1 hour ago, Ripley said:

Terra's trouble is just getting started. People lost money, so while retail may shrug rekt, the regulators won't let go. In a few week/months, we'll likely see U.S. regulators go after Terra much harder. The fact that it is in S. Korea won't matter. The U.S. has extensive cooperation arrangements with major economies.

I hope there were no CEXs or CeFIs that promoted 20% APY by staking Luna. If they did, they are going to be sued as responsible for lost funds against unregistered securities. 

Not sure about 20%, but a lot cexes provide staking and trading as of time, as if nothing happened, and volumes are huge.

20% could be at NEXO when they introduced it and under some conditions for some period of time it could go 18-20% there.

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15 hours ago, Eric123 said:

Not sure how long the carnage will last. 

In the sense that you think it'll be a rather quick recovery or in the sense that you think low prices will persist for a longer time?

Also, where do you see the market right now, bull market still intact? 

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image.thumb.png.c92e7b4e443a100de87853941ec1d113.png

 

If we engulf that previous week's candle, then the bears will have a hard time. I think it's unlikely, however. Still need to beat a double bottom at 36.7ish, which I think is likely to act as resistance. That being said, a slow crawl back up within the next weeks, maybe 2-3 months and then there is rather little room left in terms of resistance. The stairs down from 69k to 41k are full of Take profits from sellers who have dragged their Take Profit orders lower to protect their trades, i.e. there are a lot of technical buy orders there, so that they can get out.

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It looks like Bitcoin might have got "capitulation" yesterday.  

Hashrate has remained high over 200Eh/s for 23 days.  You might not have gotten them at a low but the buying opportunities continue.  

8 hours ago, Nat99 said:

In the sense that you think it'll be a rather quick recovery or in the sense that you think low prices will persist for a longer time?

Also, where do you see the market right now, bull market still intact? 

The crypto market always oscillates between elation and despair, I don't see why there wouldn't be a quick turn around.  As far at the bull market,  the definitions applied in the equity markets don't entirely apply to crypto.  The 4 year cycle has not played out as it has previously, but I do not think we've seen the high for this cycle.  I anticipate upward pumps and a strong end of the year.  

5 13 2022.png

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1 hour ago, MQB said:

Who's playing Luna? There was 100x swing up and down.

Throw $100 in it. Let it go to $0 or $10000

There's no liquidity or volume. Even if you make "$10,000" on paper, you will never be able to exit and get the money. Just the act of selling will crash the price back down. Forget it, it's dead.

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6 hours ago, Benaoao20 said:

I’d just like to repost this TA from my favorite oracle. From January (note: he then posted another one and predicted later in 2023 tho)

 

https://www.tradingview.com/chart/BLX/vf4KZBKa-Bitcoin-BTC-Precise-date-and-top-calculation-for-this-cycle/

844DAF6E-905A-4745-A37A-9C79C17E47DE.jpeg

Interesting:

 

"If the cycle will still be one year more to go, then it is possible that we could get a shakeout scenario as drawn in the red line, people should be prepared for such an event, it is entirely possible because a lot can happen in one year. We remember that BTC dropped in early 2020 from 10500 to 3900 and then went into a rally to over 60k. Ok, this was a black swan event, but we should be prepared that something similar might happen, because BTC likes shaking out people."

 

I guess Luna/UST qualifies as a black Swan event.

Let's hope this person is right. I could use some upside, especially on my alts. My BTC average cost basis is still below current prices, but many of my alts are in the red. XRP at $7 cannot happen with BTC at the current prices.

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8 minutes ago, Nat99 said:

Interesting:

XRP at $7 cannot happen with BTC at the current prices.

Absolutely right on the money. XRP is a shitcoin without BTC.

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Kind of funny to me people on here and Ripple subreddit criticize the government for picking and choosing winners and losers when the government is known for doing just that - picking and choosing winners and losers. These people are just mad the government they adore didn't pick and choose their way. 

Looks like XRP is down to $0.40 as I write this. Missed passing their old ATH and now it looks like the bull run seems over unless the Fed can turn off interest rates with the stock market bleeding out the way it is. I guess it won't matter whether Ripple wins their lawsuit in this market. I crap on XRP a lot for underperformance but to be fair even BTC only 3.5x'ed their previous ATH which is really bad. Hopefully it can at least 5-6x by the end of 2023 or something.

Regarding LUNA/UST - anyone that touched this deserved to get rekt. No sympathy. What baffles me are the lunatics trying to long this dead rotting carcass. 

 

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16 hours ago, Nat99 said:

Interesting:

 

"If the cycle will still be one year more to go, then it is possible that we could get a shakeout scenario as drawn in the red line, people should be prepared for such an event, it is entirely possible because a lot can happen in one year. We remember that BTC dropped in early 2020 from 10500 to 3900 and then went into a rally to over 60k. Ok, this was a black swan event, but we should be prepared that something similar might happen, because BTC likes shaking out people."

 

I guess Luna/UST qualifies as a black Swan event.

Let's hope this person is right. I could use some upside, especially on my alts. My BTC average cost basis is still below current prices, but many of my alts are in the red. XRP at $7 cannot happen with BTC at the current prices.

With due respect to the person who wrote the original TA, Luna doesn’t qualify as a black swan event. It was anticipated, even warned about, but ignored. Black Swans are truly unanticipated events.

The US deciding to blacklist US Treasuries held by Russia could be considered a black swan. No sovereign ever conceived that this would ever happen. Not even the worst sanctioned countries had that happen to them so far.

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1 hour ago, Ripley said:

With due respect to the person who wrote the original TA, Luna doesn’t qualify as a black swan event. It was anticipated, even warned about, but ignored. Black Swans are truly unanticipated events.

The US deciding to blacklist US Treasuries held by Russia could be considered a black swan. No sovereign ever conceived that this would ever happen. Not even the worst sanctioned countries had that happen to them so far.

But all BTC maxis and not only for years were saying/warned that Ripple will be sued and yet it still qualifies by many as black swan event?

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