Bitcoins/Litecoins/Virtual Currencies

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Locnar

Locnar

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How do people feel about the big BTC mining stocks? RIOT and MARA? I've swung trade Mara in the past and have a big holding of them now. Seems like they go up and down "kinda" in tandem with the coins, but not 100 percent. Seems like authoritarian countries are going to ass fuck miners on the regular (Iran has, China wants to) , so freedom miners here in the USA get to corner more of the market?
 
Sanrith Descartes

Sanrith Descartes

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That overhead resistance at 40k looking to be pretty stout for BTC.
 
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swayze22

swayze22

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Jackie Treehorn said:
It’s interesting many alt coins have moved back to where they were but BTC is stagnating. Not sure if this means anything other than BTC matters less now, or....
Click to expand...
I think one of the reasons is in the periods of larger volatility people are looking for huge swings to cash in on and not a more muted BTC
 
Sanrith Descartes

Sanrith Descartes

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So, if BTC was acting like an equity here is what I would surmise: It bounced off long term support at 31k and tried and failed to break resistance of the 200-DMA at 40k. Currently at 38k-ish, expect it to float between 31k and 40k until one or the other breaks and sustains. Time is not on the bull's side though. The 20-DMA is at 46k and rapidly falling. as it converges with the 200-DMA around 40k that will add to overhead resistance. Soon after the 50-DMA which is also falling will join the 20 and 200. It really needs to break 40k and turn it into support before the 20 and 50 arrive. The longer it takes to break and sustain 40k, the more likely a retest of 31k becomes. And you dont want to contemplate what happens if 31k fails as support.
Other opinions may vary.

1622042948459.png
 
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Arden

Arden

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Sanrith Descartes said:
So, if BTC was acting like an equity here is what I would surmise: It bounced off long term support at 31k and tried and failed to break resistance of the 200-DMA at 40k. Currently at 38k-ish, expect it to float between 31k and 40k until one or the other breaks and sustains. Time is not on the bull's side though. The 20-DMA is at 46k and rapidly falling. as it converges with the 200-DMA around 40k that will add to overhead resistance. Soon after the 50-DMA which is also falling will join the 20 and 200. It really needs to break 40k and turn it into support before the 20 and 50 arrive. The longer it takes to break and sustain 40k, the more likely a retest of 31k becomes. And you dont want to contemplate what happens if 31k fails as support.
Other opinions may vary.

View attachment 355539
Click to expand...
Feel like looking at ETH?
 
Sanrith Descartes

Sanrith Descartes

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ETH in better shape chart-wise than BTC. Currently sitting above the 100-DMA (@2290) and trying to crack above the resistance of the 50 DMA at $2815. 200-DMA a long way below at $1612. For now watch the price action and see what wins, the overhead resistance or the support. It could also just track in this trough for a bit until one of the other weakens. Over time the 20-DMA will come down to converge with the 50. There is about $500 in the trough between the 100 and the 50. For now its a wait and see where the market takes it.

1622044626645.png
 
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Arden

Arden

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Sanrith Descartes said:
ETH in better shape chart-wise than BTC. Currently sitting above the 100-DMA (@2290) and trying to crack above the resistance of the 50 DMA at $2815. 200-DMA a long way below at $1612. For now watch the price action and see what wins, the overhead resistance or the support. It could also just track in this trough for a bit until one of the other weakens. Over time the 20-DMA will come down to converge with the 50. There is about $500 in the trough between the 100 and the 50. For now its a wait and see where the market takes it.

View attachment 355542
Click to expand...

Thanks dude. Guess waiting a bit before buying might be wise here.

Edit: I'm assuming that if it breaks 2,815 and stays above it's a very bullish sign and I should go ahead and jump in?
 
Sanrith Descartes

Sanrith Descartes

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Arden said:
Thanks dude. Guess waiting a bit before buying might be wise here.

Edit: I'm assuming that if it breaks 2,815 and stays above it's a very bullish sign and I should go ahead and jump in?
Click to expand...
I wont say "very" bullish. If you use technicals to invest, you follow data points like the moving averages. If it breaks out above, then it only has the 20-DMA between it and open air. Thus it would have no "technical" resistance to making another run. You just have to factor all the other non-DMA factors. I can't tell you how much technical analysis helps with crypto. I can tell you though, that it probably has more value than using nothing and guessing about entry and exit points.
 
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Arden

Arden

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Sanrith Descartes said:
I wont say "very" bullish. If you use technicals to invest, you follow data points like the moving averages. If it breaks out above, then it only has the 20-DMA between it and open air. Thus it would have no "technical" resistance to making another run. You just have to factor all the other non-DMA factors. I can't tell you how much technical analysis helps with crypto. I can tell you though, that it probably has more value than using nothing and guessing about entry and exit points.
Click to expand...
Supposedly, it helps quite a bit.
 
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Fogel

Fogel

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Locnar said:
How do people feel about the big BTC mining stocks? RIOT and MARA? I've swung trade Mara in the past and have a big holding of them now. Seems like they go up and down "kinda" in tandem with the coins, but not 100 percent. Seems like authoritarian countries are going to ass fuck miners on the regular (Iran has, China wants to) , so freedom miners here in the USA get to corner more of the market?
Click to expand...
I have a good chunk of CLSK both in the form of puts and covered calls. Would love to sell MARA puts on any future dips as well if cash is available.
 
James

James

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Imagine telling people you got rich by following Soulja Boy's advice on cryptocurrency, so you bought into CumRocket's cousin SafeMars when it was just fractions of a penny.
 
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Gravel

Gravel

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It's fucking sad that some washed up shitty rapper from 20 years ago still commands $24k for a tweet. What am I doing with my life?
 
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Arden

Arden

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Interesting crypto news:

Carl Icahn says he "May get into crypto in a big way." Says it is here to stay and he prefers ETH. This of course means that he has already bought a fuck ton of ETH.

Rumor has it that Apple is about to break into the crypto space. Going to be super interesting to see how they approach it.
 
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