Bitcoins/Litecoins/Virtual Currencies

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Sanrith Descartes

Sanrith Descartes

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COIN

Coinbase to allow users to use card via Apple, Google wallets

June 1 (Reuters) - Coinbase Global Inc(COIN) launched a tie-up with Apple(AAPL) and Alphabet Inc's(GOOG) Google on Tuesday that will allow users to add cards from their accounts to the payment apps run by the two tech giants.

The Coinbase card added to the wallets can be used to spend digital currencies, the biggest U.S. cryptocurrency exchange said in a blog post. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Krishna Chandra Eluri)
 
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Haus

Haus

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Sanrith Descartes said:
COIN

Coinbase to allow users to use card via Apple, Google wallets

June 1 (Reuters) - Coinbase Global Inc(COIN) launched a tie-up with Apple(AAPL) and Alphabet Inc's(GOOG) Google on Tuesday that will allow users to add cards from their accounts to the payment apps run by the two tech giants.

The Coinbase card added to the wallets can be used to spend digital currencies, the biggest U.S. cryptocurrency exchange said in a blog post. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Krishna Chandra Eluri)
Click to expand...

If done right this will actually be a pretty big thing. Hopefully allow people to specify a specific crypto currency to "spend", and/or give a list of "Spent USDC first, if that runs out spend ADA, if that runs out spend ETH, if that runs out spend BTC" priority list. But I'm not getting my hopes up.
 
Arden

Arden

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Crypto fundamentals just keep getting stronger every day. The longer this goes on the way it has been, the more clear it is to me that we are in an accumulation phase so that the big institutions can get their fingers in the pie.
 
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Tmac

Tmac

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Arden said:
Crypto fundamentals just keep getting stronger every day. The longer this goes on the way it has been, the more clear it is to me that we are in an accumulation phase so that the big institutions can get their fingers in the pie.
Click to expand...

“The long this goes on...” What do you mean specifically?
 
Tmac

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The fact that this thread is dead means that I should buy more right?
 
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swayze22

swayze22

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To me its good overall because the lack of upward momentum/news isn't necessarily tanking the price. The lack of "up" doesn't mean "down" if that makes sense.

Which after the past few weeks seems refreshing but there is a lot going on in the world. who knows though ha
 
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Sanrith Descartes

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Translation: when instruments goes sideways for a period of time moving averages converge. It's like they are averages or something.

 
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Caliane

Caliane

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full week of eth/ada staking on kraken. previous weeks keep being partials.

Eth.
.121%

ADA
.091%
 
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Rajaah

Rajaah

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1622590054969.png

How's everybody doing?
 
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Arden

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Basically, from what I gather after scouring fintwit and listening to crypto/market "experts" is that BTC is currently in a holding pattern. It will very likely break hard (the primary number I'm hearing is +/-10k) either up or down in the near future. The longer it goes on in the current pattern, the more likely it is to break down rather than up. From what I understand, if it moves down, it would likely drop to 27k and then potentially even 20k after that. The good news is when it eventually does rebound, it will supposedly melt faces.

From my own perspective this makes sense. I'm watching whales like JPM and others who are still tossing out a lot of FUD, which, to me, says they want to try and keep the price low or send it even lower. Currently retail investors are hesitating/concerned, while whales are making big purchases.
 
Tmac

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If the whole point of the Wcykoff Distribution Event is to squeeze out retailers and begin a new accumulation phase, what determines if there's more to be squeezed? Are the instutions waiting for retailers to rebound it? And if it doesn't they will the continue downward pressure until there's mass reatail selling?
 
Rangoth

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Tmac said:
If the whole point of the Wcykoff Distribution Event is to squeeze out retailers and begin a new accumulation phase, what determines if there's more to be squeezed? Are the instutions waiting for retailers to rebound it? And if it doesn't they will the continue downward pressure until there's mass reatail selling?
Click to expand...

I am no expert but I did watch the video and found it interesting. He also did this analysis well before the full crash, so he either lucky or he really did see it coming. Either way he gets more "props" than I did.

The way I understood it, the Wcykoff distribution/plan/method is to squeeze out retail, but they do not rely on retail at all to set it up or execute it. Basically "they"(whomever that is) create interest in a product via buying it, and thus driving up the price. They drive this up to a point they want/feel is right and then they setup a slow/normal sell. It is at this point they gauge the reaction of retail. If retail sees the originating drive up as an opportunity, they buy in during this sell, thus basically bouncing it back up to the "high".

They then rinse/repeat this cycle a few times to measure the market and see where things rest, at which point they do another final drive up on the price and then unload/short everything while watching it completely free-fall. They can get away with this for the simple fact that they have enough money to move the market basically. This happens all the time I think it's just that with crypto the swings are not 2-6%, they are 50-150%...because...well whatever the fuck is going on with crypto.

Now forget the complexity of the above and just drill it down to a more simple view. If I have infinite dollars I can start buying something. I basically buy enough to create a false "desire" or even scarcity. This draws interest of others who are watching the price move. I then let the masses dive in and drive it up more and once they do, I unload my majority and the price falls to shit leaving everyone but me bagholding. You can't do this buying 50 shares(coins), but you can do it buying 25% of the supply over a period of time quite easily.

TLDR: When you have near infinite money you can actually create your own market to play.
 
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Arden

Arden

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Rangoth said:
I am no expert but I did watch the video and found it interesting. He also did this analysis well before the full crash, so he either lucky or he really did see it coming. Either way he gets more "props" than I did.

The way I understood it, the Wcykoff distribution/plan/method is to squeeze out retail, but they do not rely on retail at all to set it up or execute it. Basically "they"(whomever that is) create interest in a product via buying it, and thus driving up the price. They drive this up to a point they want/feel is right and then they setup a slow/normal sell. It is at this point they gauge the reaction of retail. If retail sees the originating drive up as an opportunity, they buy in during this sell, thus basically bouncing it back up to the "high".

They then rinse/repeat this cycle a few times to measure the market and see where things rest, at which point they do another final drive up on the price and then unload/short everything while watching it completely free-fall. They can get away with this for the simple fact that they have enough money to move the market basically. This happens all the time I think it's just that with crypto the swings are not 2-6%, they are 50-150%...because...well whatever the fuck is going on with crypto.

Now forget the complexity of the above and just drill it down to a more simple view. If I have infinite dollars I can start buying something. I basically buy enough to create a false "desire" or even scarcity. This draws interest of others who are watching the price move. I then let the masses dive in and drive it up more and once they do, I unload my majority and the price falls to shit leaving everyone but me bagholding. You can't do this buying 50 shares(coins), but you can do it buying 25% of the supply over a period of time quite easily.

TLDR: When you have near infinite money you can actually create your own market to play.
Click to expand...

This parses it pretty well from what I understand.

Add to that though an entire other level that factors in much more now than when Wyckoff was writing up his theory. There is a whole host of communication tools that whales use to hype and push FUD at the exactly right times. Social media, paid influencers, rumors, media releases. They use it all to push the right buttons at the right time.
 
Arden

Arden

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Tmac said:
If the whole point of the Wcykoff Distribution Event is to squeeze out retailers and begin a new accumulation phase, what determines if there's more to be squeezed? Are the instutions waiting for retailers to rebound it? And if it doesn't they will the continue downward pressure until there's mass reatail selling?
Click to expand...

Specifically regarding when the big guys decide everything has been squeezed that can be squeezed out of retail, I have no idea. I'm sure whatever methods and algorithms they use are far better than anything I'd ever have access to. It's probably easier with crypto than with stocks to be honest, since there is a measure of transparency with crypto that doesn't exist with stocks.

For what it's worth, keep in mind that Guy from coin bureau keeps saying we are actually in phase B of the Wyckoff
 
Haus

Haus

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Arden said:
Basically, from what I gather after scouring fintwit and listening to crypto/market "experts" is that BTC is currently in a holding pattern. It will very likely break hard (the primary number I'm hearing is +/-10k) either up or down in the near future. The longer it goes on in the current pattern, the more likely it is to break down rather than up. From what I understand, if it moves down, it would likely drop to 27k and then potentially even 20k after that. The good news is when it eventually does rebound, it will supposedly melt faces.

From my own perspective this makes sense. I'm watching whales like JPM and others who are still tossing out a lot of FUD, which, to me, says they want to try and keep the price low or send it even lower. Currently retail investors are hesitating/concerned, while whales are making big purchases.
Click to expand...

From what I have been seeing/reading you're pretty much in line. Most people seem to think the "break out" or "break down" will happen sometime around mid June. If you use Tradingview there's this really odd indicator you can use called the Hash Ribbons. It has predicted Buy signals with an eerie accuracy several times in the past. Someone recently added a line to predict when it would signal another buy (If you're using Tradingview search for "Hash Ribbons JD") and it says next buy signal in 3 days. Historically it takes about a week after the buy signal for the price breakout to happen. And that puts it 10 days out, around the 11-12th of this month.

Combine this with the pendant formed by tracking this current sideway trading and....
1622600492393.png


The two reasons I have hope are those bottom indicators. The BBWP historically has shown that once you hit 100% volatility during a downtrend (the rainbow line), once the SMA starts trending downwards and volatility gets down into the blue is , the majority of the time, when a big push up happens for BTC. The one on the bottom is the Hash Ribbons and it's indicating the miner market capitulation happened back around April 25th, and the buy sign should happen on the 4th of June. Without those two indicators I will admit I'd be close to pulling a "move every single penny to stablescoins and wait to see which way she goes", but as it is I have only drawn around 25% out to stables....
 
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