Arden
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Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Guest, did you like the last podcast notification?? Well here's the second one, and for the third podcast! Yep. This Thursday 8-8-24 at 7pm Central
Go here to check out his podcast thread for info on topics and links!Go into the FoH discord and find the Happy Time Fun Hour channel and give it a listen!
Sanrith Descartes
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Arden
Blackwing Lair Raider
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Arden
Nester
I am a big fan of give a man a fish, feed him for a day, teach a man to fish, feed him for life. So here is your chart for ETH and how to set it up for yourself going forward. This is from Marketwatch.com (feel free to use whatever service you prefer).
ETHUSD | Ethereum USD Overview | MarketWatch
ETHUSD | A complete Ethereum USD cryptocurrency overview by MarketWatch. View the latest cryptocurrency news, crypto prices and market data.www.marketwatch.com
After hitting Marketwatch, hit Crypto, then Ethereum then advanced charting..
View attachment 355894
Choose your time frame (with the insane 12 month movement of crypto I would opt for a YTD view. Click on "edit" on the "Simple moving average". It defaults to 50, "add period" and add 100, 200 and 20 and then hit close. It will them look like this...
View attachment 355895
Mousing over anywhere on the chart will give you this nice flyover with all the numbers on whatever day you are mousing over...
View attachment 355897
So looking at this chart it sells us the current price now is just a hair below the 100-DMA ($2300.5) and well above the 200-DMA of $1642.98).
Right now ETH is in range between the 100-DMA and the 200-DMA. If you are bullish you might feel its going to break the overhead resistance of the 100-DMA and make a run up to the 50-DMA (at $2842.37). If you are bearish you might think its going to cruise down and test the 200-DMA (at $1642). It could do both or it could bounce around sideways in this big $700 dollar trough for a while. BTC has a lot of weakness now so if I were a betting man on crypto I would take a wait and see approach in the short run. As the 20-DMA keeps dropping it is going to create more overhead resistance. Same with the 50-DMA. The long it takes to decide what it is going to do, the more pressure it will have on it to break lower.
Or I could be totally wrong. Its crypto and it likes to do its own thing. Also, never take financial advice from a guy who wears Harley Davidson t-shirts.
Use what I showed you above to teach you how to setup your own charts and read them.
Thanks for this.
Arden
Blackwing Lair Raider
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I do trust you- just trying to determine what it means that the doomsayer is very bullish.
Sanrith Descartes
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The problem when shit goes ballistic is that if builds almost no support on the rocket upwards. Look back over the last six months and you see Jack and shit between 24k and 32k in terms of price levels where it established itself at that price. And Jack already left town with Elon. You also have public corporations who have been buying BTC and putting it on their books. Once the value goes upside down expect some of them to jettison it. Its why 32k is a pretty important live in the sand.
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Nester
Vyemm Raider
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Great post! Thank you
I am a big fan of give a man a fish, feed him for a day, teach a man to fish, feed him for life. So here is your chart for ETH and how to set it up for yourself going forward. This is from Marketwatch.com (feel free to use whatever service you prefer).
ETHUSD | Ethereum USD Overview | MarketWatch
ETHUSD | A complete Ethereum USD cryptocurrency overview by MarketWatch. View the latest cryptocurrency news, crypto prices and market data.
After hitting Marketwatch, hit Crypto, then Ethereum then advanced charting..
View attachment 355894
Choose your time frame (with the insane 12 month movement of crypto I would opt for a YTD view. Click on "edit" on the "Simple moving average". It defaults to 50, "add period" and add 100, 200 and 20 and then hit close. It will them look like this...
View attachment 355895
Mousing over anywhere on the chart will give you this nice flyover with all the numbers on whatever day you are mousing over...
View attachment 355897
So looking at this chart it sells us the current price now is just a hair below the 100-DMA ($2300.5) and well above the 200-DMA of $1642.98).
Right now ETH is in range between the 100-DMA and the 200-DMA. If you are bullish you might feel its going to break the overhead resistance of the 100-DMA and make a run up to the 50-DMA (at $2842.37). If you are bearish you might think its going to cruise down and test the 200-DMA (at $1642). It could do both or it could bounce around sideways in this big $700 dollar trough for a while. BTC has a lot of weakness now so if I were a betting man on crypto I would take a wait and see approach in the short run. As the 20-DMA keeps dropping it is going to create more overhead resistance. Same with the 50-DMA. The long it takes to decide what it is going to do, the more pressure it will have on it to break lower.
Or I could be totally wrong. Its crypto and it likes to do its own thing. Also, never take financial advice from a guy who wears Harley Davidson t-shirts.
Use what I showed you above to teach you how to setup your own charts and read them.
Tmac
Adventurer
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I’m kinda w James here. BTC is volatile af. You don’t spend $1,000,000,000 on being short.
Daezuel
Potato del Grande
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Arden
Blackwing Lair Raider
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Normally I avoid the comments section for these things because they tend to be cesspools that bring out the dregs of society, but I took a look because you said something... Glad to see this one was not an exception.
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I am a big fan of give a man a fish, feed him for a day, teach a man to fish, feed him for life. So here is your chart for ETH and how to set it up for yourself going forward. This is from Marketwatch.com (feel free to use whatever service you prefer).
ETHUSD | Ethereum USD Overview | MarketWatch
ETHUSD | A complete Ethereum USD cryptocurrency overview by MarketWatch. View the latest cryptocurrency news, crypto prices and market data.
After hitting Marketwatch, hit Crypto, then Ethereum then advanced charting..
View attachment 355894
Choose your time frame (with the insane 12 month movement of crypto I would opt for a YTD view. Click on "edit" on the "Simple moving average". It defaults to 50, "add period" and add 100, 200 and 20 and then hit close. It will them look like this...
View attachment 355895
Mousing over anywhere on the chart will give you this nice flyover with all the numbers on whatever day you are mousing over...
View attachment 355897
So looking at this chart it sells us the current price now is just a hair below the 100-DMA ($2300.5) and well above the 200-DMA of $1642.98).
Right now ETH is in range between the 100-DMA and the 200-DMA. If you are bullish you might feel its going to break the overhead resistance of the 100-DMA and make a run up to the 50-DMA (at $2842.37). If you are bearish you might think its going to cruise down and test the 200-DMA (at $1642). It could do both or it could bounce around sideways in this big $700 dollar trough for a while. BTC has a lot of weakness now so if I were a betting man on crypto I would take a wait and see approach in the short run. As the 20-DMA keeps dropping it is going to create more overhead resistance. Same with the 50-DMA. The long it takes to decide what it is going to do, the more pressure it will have on it to break lower.
Or I could be totally wrong. Its crypto and it likes to do its own thing. Also, never take financial advice from a guy who wears Harley Davidson t-shirts.
Use what I showed you above to teach you how to setup your own charts and read them.
WOw, that's a nice solid post there. And I use MarketWatch almost every day for things and somehow had not noticed they added a crypto section up top. heh
For myself I use tradingview.com... Has a ton of interesting indicators, and you can subscribe for even more. I usually use Macd, BBWP, and EMA/MA combo ribbons for general views. Then for BTC I drop in the Hash Ribbons indicator for good measure.
Don't know if this link will work right, here goes nothing... https://www.tradingview.com/chart/QeDTlcl9/
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Sanrith Descartes
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For normies yes. Public corporations who put BTC on their balance sheet are different. The board might decide holding BTC at a negative value is bad for the company's shareholders. TSLA is an exception due to Elon's share position.
Sanrith Descartes
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I normal
I normally use Fidelity for all my charting, but haven't found them tracking crypto yet.
Arden
Blackwing Lair Raider
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Hey
James
I know you have a good handle on the technical aspects of the Ethereum network. I'm trying to determine if MATIC will have value after 1559. I've heard arguments both ways. The pro-value after 1559 group seems to be the more knowledgeable of the two camps, but their explanation as to why MATIC will still have value flew a little over my non-tech savvy head. What are your thoughts?
I'm asking James, but I know there are a few others on here with good tech knowledge, so if anyone else knows, please feel free to chime in.
Edit: Also, my whale trackers are showing lots of ETH buying and lots of Tether selling...
James
I know you have a good handle on the technical aspects of the Ethereum network. I'm trying to determine if MATIC will have value after 1559. I've heard arguments both ways. The pro-value after 1559 group seems to be the more knowledgeable of the two camps, but their explanation as to why MATIC will still have value flew a little over my non-tech savvy head. What are your thoughts?I'm asking James, but I know there are a few others on here with good tech knowledge, so if anyone else knows, please feel free to chime in.
Edit: Also, my whale trackers are showing lots of ETH buying and lots of Tether selling...
James
Ahn'Qiraj Raider
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Daezuel is correct, EIP-1559 will affect coin price and UX of Ethereum (my bet is drastically on both), but not much in the way of transaction fees when the network is bogged down. My concerns with MATIC are that it's a sidechain using More Viable Plasma, meaning it loses the composability and security of L1. Right now it works and is valuable for trading because there are no viable rollups on the market yet, which do not sacrifice either.
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Arden
Blackwing Lair Raider
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So basically I'm reading you to say 1559 isn't going to kill MATIC, which means it's likely to continue to get more valuable, but rollups eventually will kill MATIC (and maybe all the other L2 chains?). You have any estimate of MATIC's lifespan? I know that's probably a tough question due to a lot of factors.
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OK, time to show my rudimentary TA and see if you folks can pick me apart and tell me why I'm insane....
What I'm seeing in the shorter term time frames (4h shown here) is a descending pattern. Note those blue lines which go back to the high where we started the current correction, and connect the lows to form the bottom of a "bearish flag". Looking at the line connecting the low on the 23 and low on the 29th is my optimistic line of resistance, forming a wedge ending Tuesday afternoon. My working theory is that it's going to narrow down then either break up or down.
If it breaks up, then we watch resistance around $40K. For me to think we're recovering from this months correction I want to see a candle close above that point.
If it breaks down, then I suspect we set a new bottom between $28k-$26k and are in "Bearish price discovery" space until we see a close above that top blue boundary of the flag.
Larger macro concern which makes me think we might be in the beginning of the bear is that we didn't fully recover from the "April correction" before the "May Correction" hit.....
So folks... how crazy am I?
What I'm seeing in the shorter term time frames (4h shown here) is a descending pattern. Note those blue lines which go back to the high where we started the current correction, and connect the lows to form the bottom of a "bearish flag". Looking at the line connecting the low on the 23 and low on the 29th is my optimistic line of resistance, forming a wedge ending Tuesday afternoon. My working theory is that it's going to narrow down then either break up or down.
If it breaks up, then we watch resistance around $40K. For me to think we're recovering from this months correction I want to see a candle close above that point.
If it breaks down, then I suspect we set a new bottom between $28k-$26k and are in "Bearish price discovery" space until we see a close above that top blue boundary of the flag.
Larger macro concern which makes me think we might be in the beginning of the bear is that we didn't fully recover from the "April correction" before the "May Correction" hit.....
So folks... how crazy am I?
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