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  • cabbles
    cabbles Posts: 15,258
    kentaddick said:
    Wyckoff spring?
    Quite possibly.  Fits in with your post about ranging up to $36k and then moving back down again. 

  • kentaddick
    kentaddick Posts: 18,729
    cabbles said:
    kentaddick said:
    Wyckoff spring?
    Quite possibly.  Fits in with your post about ranging up to $36k and then moving back down again. 

    yeah... but not this fast lol
  • CAFCsayer
    CAFCsayer Posts: 10,237
    kentaddick said:
    cabbles said:
    kentaddick said:
    Wyckoff spring?
    Quite possibly.  Fits in with your post about ranging up to $36k and then moving back down again. 

    yeah... but not this fast lol
    I was pretty bearish but could this be a huge liquidity grab? Still not going all in as heavy til 42k, but it looks suspect 
  • kentaddick
    kentaddick Posts: 18,729
    CAFCsayer said:
    kentaddick said:
    cabbles said:
    kentaddick said:
    Wyckoff spring?
    Quite possibly.  Fits in with your post about ranging up to $36k and then moving back down again. 

    yeah... but not this fast lol
    I was pretty bearish but could this be a huge liquidity grab? Still not going all in as heavy til 42k, but it looks suspect 
    Looks like it’s getting rejected at resistance, with a hidden bearish divergence forming, might be correct after all.
  • cabbles
    cabbles Posts: 15,258
    kentaddick said:
    CAFCsayer said:
    kentaddick said:
    cabbles said:
    kentaddick said:
    Wyckoff spring?
    Quite possibly.  Fits in with your post about ranging up to $36k and then moving back down again. 

    yeah... but not this fast lol
    I was pretty bearish but could this be a huge liquidity grab? Still not going all in as heavy til 42k, but it looks suspect 
    Looks like it’s getting rejected at resistance, with a hidden bearish divergence forming, might be correct after all.
    Forgive my non technical understanding, but is $42 what it needs to surpass to break resistance

    i have been watching videos on these charts etc, but my mind doesn’t grasp these sorts of things 
  • kentaddick
    kentaddick Posts: 18,729
    CAFCsayer said:
    kentaddick said:
    cabbles said:
    kentaddick said:
    Wyckoff spring?
    Quite possibly.  Fits in with your post about ranging up to $36k and then moving back down again. 

    yeah... but not this fast lol
    I was pretty bearish but could this be a huge liquidity grab? Still not going all in as heavy til 42k, but it looks suspect 
    By the looks of it, the move down could have been the liquidity grab, moving up again.
  • Rob7Lee
    Rob7Lee Posts: 9,602
    Rob7Lee said:
    I'm stupidly back in at 35.5k - lets watch it plummet! This time have set a small profit target of 3% so out at around 36.5k, hopefully soon!
    Well that was easy  :D
  • The Prince-e-Paul
    The Prince-e-Paul Posts: 6,693
    cabbles said:
    kentaddick said:
    CAFCsayer said:
    kentaddick said:
    cabbles said:
    kentaddick said:
    Wyckoff spring?
    Quite possibly.  Fits in with your post about ranging up to $36k and then moving back down again. 

    yeah... but not this fast lol
    I was pretty bearish but could this be a huge liquidity grab? Still not going all in as heavy til 42k, but it looks suspect 
    Looks like it’s getting rejected at resistance, with a hidden bearish divergence forming, might be correct after all.
    Forgive my non technical understanding, but is $42 what it needs to surpass to break resistance

    i have been watching videos on these charts etc, but my mind doesn’t grasp these sorts of things 

    Well I'm still needing $62k to break even on BTC from original investment so a long way back up still. 
  • cabbles
    cabbles Posts: 15,258
    The Prince-e-Paul said:
    cabbles said:
    kentaddick said:
    CAFCsayer said:
    kentaddick said:
    cabbles said:
    kentaddick said:
    Wyckoff spring?
    Quite possibly.  Fits in with your post about ranging up to $36k and then moving back down again. 

    yeah... but not this fast lol
    I was pretty bearish but could this be a huge liquidity grab? Still not going all in as heavy til 42k, but it looks suspect 
    Looks like it’s getting rejected at resistance, with a hidden bearish divergence forming, might be correct after all.
    Forgive my non technical understanding, but is $42 what it needs to surpass to break resistance

    i have been watching videos on these charts etc, but my mind doesn’t grasp these sorts of things 

    Well I'm still needing $62k to break even on BTC from original investment so a long way back up still. 
    Hold tight mate.  Might take a while, but you will see a return 
  • Bangkokaddick
    Bangkokaddick Posts: 4,300
    I sort of "pulled out" a while ago but didn't realise thet Binance USD couldn't be transferred anywhere else so just left my money there temporarily.

    Watching the Bitcoin drop recently, I converted it to BTC at just over $32,000. I will sell it at some point but maybe I'll make a little bit of extra profit as well.

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  • kentaddick
    kentaddick Posts: 18,729
    Bangkokaddick said:
    I sort of "pulled out" a while ago but didn't realise thet Binance USD couldn't be transferred anywhere else so just left my money there temporarily.

    Watching the Bitcoin drop recently, I converted it to BTC at just over $32,000. I will sell it at some point but maybe I'll make a little bit of extra profit as well.
    You can sell as usdc and you can transfer that to coinbase. 
  • kentaddick
    kentaddick Posts: 18,729
    Think we’re still ranging, will need 36k to hold to convince me otherwise. 
  • kentaddick
    kentaddick Posts: 18,729
    Thoughts: are we beginning another wyckoff cycle? Crudely drawn, as on phone.


  • cafcpolo
    cafcpolo Posts: 3,813
    Triple bottom too. Looking quite bullish.
  • cabbles
    cabbles Posts: 15,258
    Ha - you gotta love it.  Some of the Alts are taking quite a battering 
  • kentaddick
    kentaddick Posts: 18,729
    kentaddick said:
    Thoughts: are we beginning another wyckoff cycle? Crudely drawn, as on phone.


    👀
  • FishCostaFortune
    FishCostaFortune Posts: 10,780
    kentaddick said:
    kentaddick said:
    Thoughts: are we beginning another wyckoff cycle? Crudely drawn, as on phone.


    👀
    Well whatever it is we certainly seem to be on the rise again. 
  • cabbles
    cabbles Posts: 15,258
    edited June 2021
    Microstrategy’s bond issue clearing today I believe.  Be great if they just decided to say chuck $100m on Zil :-)
  • kentaddick
    kentaddick Posts: 18,729
    We'll either clear $40k and then retest back to here or go down and retest to 36.3k. Either way, no point in buying now imo. 
  • kentaddick
    kentaddick Posts: 18,729
    kentaddick said:
    We'll either clear $40k and then retest back to here or go down and retest to 36.3k. Either way, no point in buying now imo. 
    o crap havent looked at the chart in like an hour and its cleared 40k already shieet.

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  • FishCostaFortune
    FishCostaFortune Posts: 10,780
    kentaddick said:
    kentaddick said:
    We'll either clear $40k and then retest back to here or go down and retest to 36.3k. Either way, no point in buying now imo. 
    o crap havent looked at the chart in like an hour and its cleared 40k already shieet.
    Good or bad news in your opinion? Is 42k another big level to break?
  • kentaddick
    kentaddick Posts: 18,729
    edited June 2021
    FishCostaFortune said:
    kentaddick said:
    kentaddick said:
    We'll either clear $40k and then retest back to here or go down and retest to 36.3k. Either way, no point in buying now imo. 
    o crap havent looked at the chart in like an hour and its cleared 40k already shieet.
    Good or bad news in your opinion? Is 42k another big level to break?
    Good news.

    Yes, 42/43k. I'd expect price to go up to there and correct back to $40k, i'll buy there.
  • kentaddick
    kentaddick Posts: 18,729
    kentaddick said:
    kentaddick said:
    Thoughts: are we beginning another wyckoff cycle? Crudely drawn, as on phone.


    👀


    Progress 👀
  • cabbles
    cabbles Posts: 15,258
    What I am curious about, is if there are only ever going to be 21,000,000 btc mined, in terms of using it as a national currency, how does that work exactly.  I get it’s the complete opposite of the idea that governments can simply print money, but on a practical level, I’d be keen to understand how it is factored in when buying and selling goods.
  • kentaddick
    kentaddick Posts: 18,729
    edited June 2021
    cabbles said:
    What I am curious about, is if there are only ever going to be 21,000,000 btc mined, in terms of using it as a national currency, how does that work exactly.  I get it’s the complete opposite of the idea that governments can simply print money, but on a practical level, I’d be keen to understand how it is factored in when buying and selling goods.
    Bitcoin maxis will tell you that prices will switch to satoshis, not Fiat prices. They’ll also tell you that by the time 21 million are mined and in circulation the relative price of bitcoin would’ve stabilised. 

    Personally I see bitcoin as digital gold, a secure store of value, but not particularly useful for much else. Much cheaper and faster and better for the environment to transfer millions/billions of £ in bitcoin than millions/billions of £ of gold.
  • balham red
    balham red Posts: 1,289
    What's the next movement? Up above 40k, or back down to 36-37k?
  • kentaddick
    kentaddick Posts: 18,729
    balham red said:
    What's the next movement? Up above 40k, or back down to 36-37k?
    probs down, then up past 40k to 43k.
  • QatarNapsy
    QatarNapsy Posts: 998
    Rob7Lee said:
    The Prince-e-Paul said:
    Rob7Lee said:
    I'm stupidly back in at 35.5k - lets watch it plummet! This time have set a small profit target of 3% so out at around 36.5k, hopefully soon!
    So allowing for costs to buy and again to sell, to make 3% 'profit' after costs, you'd actually need BTC to gain 10%, correct?
    No, no costs.
    What crypto platform would you recommend for no trading fees? I currently use Binance and thought they were pretty low trading fees.
  • Rob7Lee
    Rob7Lee Posts: 9,602
    QatarNapsy said:
    Rob7Lee said:
    The Prince-e-Paul said:
    Rob7Lee said:
    I'm stupidly back in at 35.5k - lets watch it plummet! This time have set a small profit target of 3% so out at around 36.5k, hopefully soon!
    So allowing for costs to buy and again to sell, to make 3% 'profit' after costs, you'd actually need BTC to gain 10%, correct?
    No, no costs.
    What crypto platform would you recommend for no trading fees? I currently use Binance and thought they were pretty low trading fees.
    I use EToro, it's 'free' from fee's but you do have the buy/sell swing, no idea if it's the cheapest overall as will depend how often and how much you are trading.
  • cabbles
    cabbles Posts: 15,258
    Rob7Lee said:
    QatarNapsy said:
    Rob7Lee said:
    The Prince-e-Paul said:
    Rob7Lee said:
    I'm stupidly back in at 35.5k - lets watch it plummet! This time have set a small profit target of 3% so out at around 36.5k, hopefully soon!
    So allowing for costs to buy and again to sell, to make 3% 'profit' after costs, you'd actually need BTC to gain 10%, correct?
    No, no costs.
    What crypto platform would you recommend for no trading fees? I currently use Binance and thought they were pretty low trading fees.
    I use EToro, it's 'free' from fee's but you do have the buy/sell swing, no idea if it's the cheapest overall as will depend how often and how much you are trading.
    Not that many crypto assets on eToro.  i use it as well.  As rob7lee points out, the buy/sell swing is where they make their money.  It's actually one of the steepest.  

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