Bitcoins/Litecoins/Virtual Currencies

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Sanrith Descartes

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Part of the issue I see today is BTC can't string together more than 3 green candles in a row.
 
Sanrith Descartes

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Lightning Lord Rule said:
Had this vid pop up in my youtube recommendations based on some other stuff I watched. It's Michael Burry's latest moves (Christian Bale in the Big Short):




Might be worth emulating? This type of thing is way over my head though.
Click to expand...

We were discussing Burry in the other thread. He is basically short everything but FB and GOOG if I recall correctly.
 
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Sanrith Descartes

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Lightning Lord Rule said:
Yeah, I had the wrong thread. You replied before I could move it :(
Click to expand...
three toed sloth GIF by Trolli
 
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Lightning Lord Rule

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So where do we think the bottom of this bubble deflation is? Pre Jan 20th prices?

If that's the case, I wonder how long it will take for another bull run like we just had... because that's how long I'm looking to hodl :I'm Fine:
 
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wormie

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Mining costs seem like a good bottom to me. 9k btc and 150 eth.
 
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Keystone

Keystone

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Haha not gonna lie. I’m starting to feel the pain. Still up big over the last 12 months but Sitting at 33% of my high fucking hurts my soul. (And I was here for the last pop bought more and held through).
 
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Sanrith Descartes

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TXjohnny said:
Who was it that called $32k BTC incoming a week or so ago?
Click to expand...
I mentioned the charts said if it lost the 200-DMA it's all air down to 31k where it should bounce. Almost nailed it to the dollar...

Sanrith Descartes said:
While I dont trade in the crypto pool I do find it valuable to keep an eye on it. Here is a chart of BTC. With the latest crash its sitting right at the 200-DMA and below the 50 and 100-DMAs. MACD is signalling sell. If it loses the 200-DMA, its got nothing but air between it and about 31k as a prior support level. Beyond 31k its next support is down around 20k. The chart setup doesnt look good right now. Good luck and may the force be with you.

View attachment 354801


View attachment 354802
Click to expand...
 
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Sanrith Descartes

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The thing I am adjusting to is the 24-hour trading of crypto. Normally in equities I would look at the clock and think BTC just needs to close above 31k and we can breathe and let cooler heads prevail. 7 minutes to go. Should be no problem. With crypto I guess it's more about watching timezones and thinking this shit needs to hold 31k until the Asians go to sleep. Interesting dynamic.
 
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Fadaar

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Eth creeps back up to 4k again I might just cash out and buy a fuckin car. Need to anyway just been putting it off.
 
Lambourne

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Sanrith Descartes said:
How do you short crypto? Same as stocks, the broker loans you crypto to sell at interest?
Click to expand...

Haven't traded stocks beyond buying into a fund but on Kraken all shorts are on margin yeah. Can't short all coins on it because they don't offer margin trades on small cap coins.
 
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Sanrith Descartes

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Lambourne said:
Haven't traded stocks beyond buying into a fund but on Kraken all shorts are on margin yeah. Can't short all coins on it because they don't offer margin trades on small cap coins.
Click to expand...
Shorting something that volatile requires balls bigger than I have.
 
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