Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)

[Rusty Shackelford 414]

That indicator could also be signaling that bitcoin is fixing to take a dump, right?

[Rusty Shackelford 414]

Cool, I don't trade crypto, but do monitor it's long term moves. 

Just make sure you keep an eye on the resistance trend line that started over a year ago, and has rejected BTC breakout the last 6 times it has tested that line.  If BTC does go to 4,400 then resistance would finally be broken.

[Nice Guy Eddie 13536]

Personally I mine some coins as a hobby when the benefit is there and purchase some BTC from time to time.  And I've started to stake some master node coins that return >30% annually.  In that coin not USD. 

I find there are too many external factors (e.g. Mt Gox sales) that make short term trading too dangerous.  Not too mention that I don't want to spend brain power figuring out auto-trading alerts settings required due to the 24/7 trading. 

I buy and hold thinking that some of the main coins may be worth a great deal more in the future.  At my buying levels, I won't get wealthy but I can't get hurt either. If you think there is any future or benefit with crypto, I don't see how BTC isn't a good buy for the long term. And I don't mean that BTC has to replace all fiat currencies but rather be a store and transfer of value.

[ztejas 43608]

On 3/1/2019 at 12:19 PM, tjhooker said:

Here you go.  I have BTC on the 4 hr. firing long.  

That graph should be titled "We have no fucking idea what it's worth, but we're trading it"

[ztejas 43608]

1 hour ago, tjhooker said:

LOL.  Maybe but generally it is worth what someone is willing to pay for it. 

Right, what someone is willing to pay for it seems extremely volatile right now. 

[Rusty Shackelford 414]

BTC fixing to test the long-term trend line again in the next few days.  If it can break 4,100 it should run up, if not watch out.

[Lat22 4046]

Not bitcoin, but did anybody else take a ride on the BPTH rocket ship yesterday?

[Fudge Nuggets 19242]

On 3/1/2019 at 5:53 PM, Rusty Shackelford said:

That indicator could also be signaling that bitcoin is fixing to take a dump, right?

Draw enough lines on a chart and the price is going to touch one of them.

[Nice Guy Eddie 13536]

if you have the magic formula, post good places to enter and exit BEFORE you do so.  Then everyone else can evaluate your trades.  Most trend analysts are big about telling you about their trades after the fact. and it's amazing that most of their trades are always profitable. They've never lost money or TA has limited their losses.

 

 

[Fudge Nuggets 19242]

1 hour ago, tjhooker said:

OK, those are support resistance levels for daily and weekly.  they have different importance.  discount them if you want.  Allows me know good places to enter and exit.  works for me when used in conjunction with the TTM indicator, candlestick formations, volume profile.  Let me see your charts.  Please post.  Can't wait to see this.

I don’t do charts because I am an investor, not a gambler.

[Fudge Nuggets 19242]

3 hours ago, tjhooker said:

 

Then don't say anything because you don't know at all what you're talking about.  Also, I have given areas of entry and exit.  BTW you don't just "exit".  You scale out as target levels are hit.  Move up SL accordingly.  I am not here to tell people when to enter and exit like some slime ball signal service.  I post set ups.  These are a few of mine.  These aren't after the fact trades.  I am in all of these right now except WABI where my position is played out.  I did give some recommendations but that is just what it is.  Never make trades on someone else's TA.  You will get rekt'd.  Take these coins or how like I posted in the Market thread on a short in a stock with targets and do your own analysis.  If you see above I even suggested a SL level.  BTW it isn't gambling anymore than "investing" just on shorter time frames.  You can lose in investing too.  Is that gambling?  

Pretty defensive there, chief.  Dude, you're dealing with stocks that have 4 zeros after the decimal point.  You're fucking gambling.

When your "areas of enty and exit" cover 80% of the price movement, then what the hell?  Posting set ups, just like a bucket shop in Boca Rotan would do for $9.95.  Fuck out of here with your bullshit.

Edited March 8, 2019 by Fudge Nuggets

[MAUFRAIS 6669]

https://mobile.twitter.com/jimmysong/status/1103105623967834113

This guy seems like he’s full of shit.

[Rusty Shackelford 414]

Bitcoin right up against long term resistance now, will be interesting to see if if breaks this time or continues the year-long trend

[Rusty Shackelford 414]

I’m talking about the sloping resistance line since last March. Each time it was tested and failed there was a long red candle.

Not saying it will happen again but worth watching. I’ll admit that I’m not a good technical trader.

Breakout would probably be big to the upside, so there’s that.

[Bullneck 19269]

On 3/13/2019 at 3:00 PM, Rusty Shackelford said:

I’m talking about the sloping resistance line since last March. Each time it was tested and failed there was a long red candle.

Not saying it will happen again but worth watching. I’ll admit that I’m not a good technical trader.

Breakout would probably be big to the upside, so there’s that.

Can you short bitcoin?

[Rusty Shackelford 414]

4 hours ago, tjhooker said:

Although, I am not sure I would be shorting BTC just yet.  I am in a margin long from 3750.  I still believe a run up to 4500 to 5500 before a big dump down but no one knows.  Just set stops appropriately. 

looks like it's trying to break out finally.

[Angry Gorilla 1770]

Is trading your full time job, or something you do for fun/extra money?

[Rimbo 26174]

Current climate reminds me of an old quote from Louis Rukeyser:

Nothing like a bull market for bringing out the crooks, and nothing like a bear market for catching them.

[ajax 2628]

Something just happened

[Wally Fairway 5596]

For the sake of those investing in Bitcoin I hope this isn't true, but there are reports that the jump overnight is a result of an April Fools press release/tweet about the SEC approving a Bitcoin ETF.

This release seems to be the epicenter of the bitstorm
https://www.financemagnates.com/cryptocurrency/news/sec-drops-the-bomb-approves-bitcoin-etfs-markets-skyrocket/

[Nice Guy Eddie 13536]

Maybe that started it but there have been false rumors before.

i see last night of one the reasons you can’t time this market. It can jump 5-10% before an alert can wake you.  

Regardless it was nice to wake up to my crypto portfolio up 15% with some coins up over 20.

[Rusty Shackelford 414]

1 hour ago, tjhooker said:

It was a technical breakout.  

Absolutely, and it is usually true that the stronger the resistance is, the stronger the breakout will be.  

Are you getting 5,200 from a Fib retracement?

 

[Rusty Shackelford 414]

This one seems to fit nicely too.

[Nice Guy Eddie 13536]

One difference about this run is that few alt coins are suffering from btc going up.  Many times when btc is up, many alt coins are down.  Pretty much everything is up big. It would seem that this is many fiat moving in 

[GRHorn 105]

The two halvings before in 2012 and 2016 were preceded by a run up of about a year and then ran after for another year plus. The next halving is in May 2020. This could be the beginning of the cycle. 

[Nice Guy Eddie 13536]

It's only been two days but this run feels like late 2017/early 2018 when you couldn't help but have huge gains daily.  Even for long term holds, you eventually pocket some gains or roll them into your long term targeted coin.  I know the cryptorus guy is big on transferring alt coin gains into more BTC.

[ZB'Tejas 594]

18 minutes ago, Nice Guy Eddie said:

It's only been two days but this run feels like late 2017/early 2018 when you couldn't help but have huge gains daily.  Even for long term holds, you eventually pocket some gains or roll them into your long term targeted coin.  I know the cryptorus guy is big on transferring alt coin gains into more BTC.

late 2017?... we went from 10K to 20K in like a week. Not sure it's quite like that.

[GRHorn 105]

I’d like a slow grind to 8-10k by end of year. That would set up for a big 2020-2021

[GRHorn 105]

19 hours ago, tjhooker said:

Me too.  Alts will go bezerk.  I do think drop to 1800 or 1300 will happen due to technicals but I could be wrong.  For BTC to be healthy technical wise it has to.  We are in a bull push in a bear market.  It always happens.  I could be wrong.  I am playing it and it has been incredible.  You can see some of my alt plays in this thread.  Those arent all of them.  I will play this with running stops until I cant.  I got stopped out of my short from 5200.  I have a number of levels shorting up to 5500ish.  We will see. As I have said for months now I expected a bounce to these levels. My son says bots are excited then dump it hard.  It may go up higher to 6500 but I am shorting every level until then.

BTW bots I have learned from my son are newbies as I understand.  He said after i told him everyone thinks it is going up.  He said they are bots.  I laughed and you said you mean plebs?  He said no bots are stupider than plebs.  I had no clue.  He is the same 13 yr old that ran rough shot on his 7th grade trading league by 423% and helped me build my 1st mining rig.  Love this kid.  Also, mashes HR's.

 

One alt I like for moonshot is FLO. On bittrex. About 10-15% from yearly highs in BTC terms. Current cap only 18M. Being used already to record trades with Overstock’s Tzero security token exchange which is in its infancy. Also being used for land title recording. So a lot of potential upside. Just thought I’d throw it out there. 

[XYZ 2154]

Land title recording, hahaha! Excuse me sir, the 51% attack on the blockchain says this is MY home now, GTFO. Priceless!

[pacman 7380]

https://finance.yahoo.com/news/trader-who-called-bitcoins-84-decline-in-2018-now-sees-50000-price-target-112129177.html

 

[Nice Guy Eddie 13536]

6 hours ago, pacman said:

https://finance.yahoo.com/news/trader-who-called-bitcoins-84-decline-in-2018-now-sees-50000-price-target-112129177.html

 

There is a thought that if BTC repeats some previous bull run percentages, btc could go to anywhere from 50k-400k.  And that this run could take place over the next 14 months.

now just because something happened in the past, it doesn’t mean it will again... I don’t believe it will take much to top it’s previous 20k level but i have no idea when. I’m cool with it staying low to keep accumulating.

for those that are skeptical, I heard some intriguing advice recently: say you put 1% of your next worth into the top cryptos, your downside is all of 1%. But the upside could be 100x in a few years.   The big upside mitigates the risk of bitcoin going to 0. 

[XYZ 2154]

17 hours ago, Nice Guy Eddie said:

There is a thought that if BTC repeats some previous bull run percentages, btc could go to anywhere from 50k-400k.  And that this run could take place over the next 14 months.

now just because something happened in the past, it doesn’t mean it will again... I don’t believe it will take much to top it’s previous 20k level but i have no idea when. I’m cool with it staying low to keep accumulating.

for those that are skeptical, I heard some intriguing advice recently: say you put 1% of your next worth into the top cryptos, your downside is all of 1%. But the upside could be 100x in a few years.   The big upside mitigates the risk of bitcoin going to 0. 

Yes, it’s called gambling.

[Nice Guy Eddie 13536]

1 hour ago, XYZ said:

Yes, it’s called gambling.

Speculative investing is just a another name for gambling. 

[SquishMitten 10451]

Maybe gambling is just a poor man's version of speculative investing

[MirrOlure 14915]

Tiptoeing into this....

Does the board have any thought on investments in companies tied to blockchain technology?  I've found a few ETF's to play around with in my 401k - BLOK, BLCN and KOIN, and researching the stocks that these funds hold, I found a few interesting looking companies in the sub $1.00 per share category....one of which was up 16% today.  

Just curious if there is any validity to Blockchain stocks riding along with any possible bull crypto market?

[XYZ 2154]

2 hours ago, MirrOlure said:

Tiptoeing into this....

Does the board have any thought on investments in companies tied to blockchain technology?  I've found a few ETF's to play around with in my 401k - BLOK, BLCN and KOIN, and researching the stocks that these funds hold, I found a few interesting looking companies in the sub $1.00 per share category....one of which was up 16% today.  

Just curious if there is any validity to Blockchain stocks riding along with any possible bull crypto market?

You should totally jump in with your retirement money. This crypto-blockchain craze is totally legit unlike the dot com craze of the late 90s.

[GRHorn 105]

11 hours ago, XYZ said:

You should totally jump in with your retirement money. This crypto-blockchain craze is totally legit unlike the dot com craze of the late 90s.

Great post. Thanks for your input. 

The bubble in 2017 had a lot of the same hallmarks, but was nowhere near the size of dot com bubble. I think there’s a strong chance it comes back even bigger in 2020-2021. You still have time to wade into the pool. Live a little. Good luck. 

[SquishMitten 10451]

Good point. It’s a shame the internet failed and there are no websites anymore

[MirrOlure 14915]

14 hours ago, XYZ said:

You should totally jump in with your retirement money. This crypto-blockchain craze is totally legit unlike the dot com craze of the late 90s.

Yeah...because "playing around" with a few ETF's and trying to catch lightening in a bottle with cheap new technology stocks in a 401k brokerage account, with $4.95 trades with no short term capital gains tax implications constitutes "totally jumping in with retirement money."

[XYZ 2154]

7 hours ago, MirrOlure said:

Yeah...because "playing around" with a few ETF's and trying to catch lightening in a bottle with cheap new technology stocks in a 401k brokerage account, with $4.95 trades with no short term capital gains tax implications constitutes "totally jumping in with retirement money."

I’m giving you free advise, man. Crypto-coins are totally awesome. Don’t just dip your toes in the water. Jump.

Edited April 9, 2019 by XYZ

[GRHorn 105]

2 hours ago, XYZ said:

I’m giving you free advise, man. Crypto-coins are totally awesome. Don’t just dip your toes in the water. Jump.

 

On 4/8/2019 at 7:05 PM, XYZ said:

You should totally jump in with your retirement money. This crypto-blockchain craze is totally legit unlike the dot com craze of the late 90s.

You keep trying to mock people about jumping in when it’s actually the opposite of what people are saying. I haven’t seen a single poster claim that it’s not a highly speculative space to be putting your money. 

I think most of the people here are interested in what they see as an asset class that has an asymmetric risk/reward profile. It’s also largely uncorrelated to other assets. 

I guess you disagree with putting a single cent into it. That’s cool. It’s your prerogative. If you’re looking for crypto enthusiasts to really argue with, may I suggest Twitter? There’s much bigger zealots there for you to get satisfaction confronting. You might get to mock people for things they’ve actually said too. 

[Nice Guy Eddie 13536]

Arguing whether a bitcoin is worth 5k or 0 is a lame argument.  It’s worth what someone will pay you for it.  If you think people will pay 10k for it in the future, it’s a no brainer to buy it. 

There are less than 18m bitcoins and about 3m left to be created.  If people think there is a value in them, regardless if they’re right or wrong, the price of a bitcoin should go up.

[Nice Guy Eddie 13536]

BTC bulls been holding up against the bears.  Gotta wonder if we're going to stick to the 4900-5500 range or breakout.  I'm under the impression that the TA chartists like what they're seeing in terms of higher prices.  I don't believe their charts by itself, but I do believe that they believe it, so it can move the prices.

[Rusty Shackelford 414]

6,400 next resistance?

[ZB'Tejas 594]

17 minutes ago, Rusty Shackelford said:

6,400 next resistance?

I thinking 5800 that it needs to break through first. Still watching for one more big pull back though:

 

 

[Nice Guy Eddie 13536]

IMO, still a great time to accumulate even with BTC up 40% over the past month.  I gather some people are waiting for some big drop in order to buy.  They might be 100% correct but they're trying to time the market too accurately.

 

[Nice Guy Eddie 13536]

Except for the Tether-Bitfinex investigation news, BTC is still on a tear. Over the last 24 hours, it's been holding steady at 5900 but just can't seem to push about 6K. ~6250 is a psychological barrier for the buyers but then again it could hover around 6K for months.  who knows.

 

[bernorange 8367]

Quote

If you harbored any doubts that the crypto industry is going through troubled times, then doubt no more. And if you thought we had heard the last of large-scale crypto exchange hack schemes like the infamous long-defunct Mt. Gox—the Lehman Brothers of crypto--brace yourself for a nasty surprise. Binance, one of the world’s biggest and most reputable digital token exchanges, has just reported what appears to be its largest hack to date.

In a post on the company’s site on Tuesday, CEO Changpeng Zhao, fondly known as CZ, has revealed how hackers targeted a single account and spirited off 7,000 bitcoin, worth ~$40.8 million at the current price of $5,828.
...

More:  https://safehaven.com/cryptocurrencies/bitcoin/Binance-Loses-40-Million-In-Record-Breaking-Crypto-Heist.html

[ZB'Tejas 594]

The FUD is pouring out (Tether and now Binance) but the price is thus far unaffected as we now trying to break and stay about 6K. I'd still like to see something back down to 5.4-5.6 testing possible supports. I'm also not ruling out one more massive drop taking us back down into 3K where I'll be buying more and opening leveraged longs. For now, I've sold around 6K and hoping to start buying back mid 5ks.