Bitcoin Price Thread
- Thread starter Magna
- Start date
Tomorrow is the start of the correction. 276. Look for it in next 2 weeks. Got PUTS!!! Technically $SPY 282.40 support officially broken. 280.85 next up then 280 and you can kiss it good bye.
ALT COIN will lose 99% of their value from current levels. Most already have been devastated. ETH is the strongest of all coins. Glad the pump and dump is over. I got sick of watching 19 year olds act like professionals. I even saw a guy with a how to pick up girls channel suddenly make how to trade crypto videos. Just a bad joke.
But anyways!!! Get them SPY puts ready. Tomorrow or Mon at the latest is the start of it. All the big names have released earnings. Interest rates are going vertical this year.
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on Trading side: not just hedging ability, but ability to do calendar spreads, and other option based strategy like Long option, which is a limited risk strategy is currently not available as compared all those established futures and ETFs + Option on them. The very fact that it is still manly OTC and not even regulated as much as FX is + and IOC is unregulated , so even as a trader lot more due diligence required to even enter the market!
on Store of wealth: I think most sane people agree that apart from technology rest is hot air
Market loves the yo yo to keep bulls and bears off balance. They give you huge fades and huge spikes last 3 days so it's hard to stick to a position. aka volatility rising. UVXY huge 30% move this week then a 30% dump. Bulls laugh at bears thinking everything is kocher. Most new traders don't know when tops are formed. Market gives signals to the observers. I've seen this pattern before a big move down. Hard to get the timing on point so I'm in SPY puts with 1 month time value in the money. I also have a 280/275 put spread for options 2 weeks out. Feb monthly.
That's actually one of the milder ad hominem attacks. Let's see if I've used words like those to describe you?
Without context? I responded to you back then asking you what your entry point was as it never went below from the time you posted, but hey, you're always right and making money
I think volume is too low at 8K, maybe 6K o 5K
Here is what is going to happen:
Now that we dipped below 8K, we bounce back to 10K. From there we go lower to 6Kish, from where we rally hard to 9-10K.
It is simply SMA and BB bounces on the weekly chart. I can be off by $500 or so, but that is the general direction.
Come onnnnnnnn bitcoin bulls where are you....you loved it at $14k $15k $16k $17k $18k $19k $20k .....how come no one wants it at $8k????????????????????????
Over $100 billion wiped off global cryptocurrency market in 24 hours
- Over $100 billion was wiped off of the global cryptocurrency market in 24 hours on Friday.
- Concerns over tighter regulation, and worries that the bitcoin price was manipulated on a major exchange called Bitfinex by a cryptocurrency called Tether, weighed on prices.
- Bitcoin, ethereum and ripple all saw their prices tank.
L
lovethetrade
So are we in the "collector's item" category yet?
The store of value BS is obviously out of the window.
Absolutely, if governments and banks don't want it or want full control of it, you can forget about everything else, it has no relevance.
This is driven all by politics and self-interest. It's interesting this occurred at an important technical level for gold.