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The Lunatic Fringe - Trading talk.

Zed

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Yep...

 

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Lancers32

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Bitcoin.
 

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Lancers32

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I see nearly everyone over at CT with the exception of the perma bulls who aren't worth a follow are at best cautious if not down right bearish. They flipped the script usually March is down/April up. We have been seeing lows put in near the end of the month lately might have something to do with options or not. At any rate if the mid 40's do not hold we might be in for some longer term trouble I think. There is that last top around 42K would not like to see BTC close 2 days under that number. So now it gets interesting. Not sure what the large discount in GBTC means or what the meaning of the large US miners like RIOT and MARA topping out some time ago is. Would like to see the Fear/Greed Index drop from the current 55 level.
 

spinalcracker

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Why cryptocurrencies Bitcoin, Dogecoin and Ether are selling off
8:48 am EDT Apr. 23, 2021

Cryptocurrencies like Bitcoin, Ether and Dogecoin took a beating Friday, extending a recent run of wild swings as President Joe Biden is expected to unveil a plan to raise taxes on the wealthiest Americans that would nearly double levies on investment gains.

The losses erased more than $200 billion of value from the cryptocurrency market, according to CNBC, citing data from CoinMarketCap.
 

Lancers32

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First of all Biden's proposal is merely that a proposal. Bitcoin was ripe for a selloff. The market was showing other signs of at least a local top.
 

Lancers32

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The large candle in Feb I believe was the Musk buy/tweet. Sometimes the market likes to test at least some portion of the body of the candle. So far today GBTC has held better than I expected. DCA in slowly I think.
 

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Lancers32

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Bitcoin so far having trouble clearing 50K but it looks like the Chinese miners NCTY CAN and SOS have bottomed and MARA and RIOT are back into an area of interest. BTC can take the pipe this weekend but a small buy here and there off this plunge from 65K might be warranted if you are long term bullish.
 

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Lancers32

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This schmuck gives stupid a bad name. It's not Putin.
 

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Cigarlover

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There comes a time when people realize that the value in BTC is in having a large pool of sheep that are willing to pay more than you did. When the sheep stop buying no one wants to be the last man to sell.
I will be a buyer when the price gets back down to 1 dollar.
 

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Gold Weekly - No Cigar! Still under that down trend albeit with positive momentum. Setting up for a break in May? Support @ 1740 ish.

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Zed

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Silver Weekly - Same. Messy but support is around 25.5.

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Zed

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BTC Weekly - Momentum is waning however we could see this flag play out with a 100K target. There is a possibility that is a low volume flame out move. Momentum needs to return with it. Buying low 40's with a ~40 stop loss could be a trade. Longer term I'm not liking the chart but mid term this could easily snap back with the BTC sentiment riding high.

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Lancers32

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Still hot now.

 

Lancers32

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BTC Weekly - Momentum is waning however we could see this flag play out with a 100K target. There is a possibility that is a low volume flame out move. Momentum needs to return with it. Buying low 40's with a ~40 stop loss could be a trade. Longer term I'm not liking the chart but mid term this could easily snap back with the BTC sentiment riding high.

View attachment 208503


I like that. I don't think the bottom is in it might be. Went 20% long today and will add down to 43K. Not chasing any move up to 55K from here.
 

savvydon

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Today was absolutely classic suppression. PMs came out into the Comex looking like they had been fired with a sling shot. Prices were up and above moving averages/breakout levels, and we had $1800 gold squarely in our sites. The dollar was breaking down and most commodities were breaking out. All of the sudden there was a steady bludgeoning of gold and silver. Even after that they tried to crawl back towards green but were steadily throttled for the rest of the day. I have been saying this for a while and thinking it for even longer, but when the veil is pierced and people wake up to what is happening to fiat, the resulting momentum into PMs should be epic... Shitcoin et al notwithstanding. 2c
 

Cigarlover

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Today was absolutely classic suppression. PMs came out into the Comex looking like they had been fired with a sling shot. Prices were up and above moving averages/breakout levels, and we had $1800 gold squarely in our sites. The dollar was breaking down and most commodities were breaking out. All of the sudden there was a steady bludgeoning of gold and silver. Even after that they tried to crawl back towards green but were steadily throttled for the rest of the day. I have been saying this for a while and thinking it for even longer, but when the veil is pierced and people wake up to what is happening to fiat, the resulting momentum into PMs should be epic... Shitcoin et al notwithstanding. 2c
I was watching the futures pre market. Looked so strong I almost thought about buying in. I don't have deep enough pockets to play that game though. Thats the real problem to be honest. Not enough people do have deep enough pockets to play the paper game. The banks have unlimited amounts of cash to push this down. Scares off the longs when they push it down. You really need multiple hedge funds to step into this arena and take on the bankers.
 

Zed

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Time...

Be patient...

Wait...

It will happen...

In the mean time it's driving me...
But I get what is...
So...
Save yourself from...
It will happen.

JMHO.
 

Cigarlover

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I agree it will happen. The question is do we really want it to? People are already going nuts. Do we want to throw an economic collapse on top of everything else?
There has only been 2 times in my lifetime when it did happen. The last time it happened they announced that unless we gave the bankers 700 billion there would be anarchy. So it's kind of a double edged sword. What I would like to see is investment demand raise prices without an economic collapse.
I wanna see the dow and Gold at the same price and silver tagging along at a 9 to 1 ratio to gold. :). Can I get that without paying 40 trillion for a dozen eggs?
 

Goldhedge

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I am nibbling under $50k , a 100 here , a hundred there , everywhere a hundred , old McSpinal had a bitcoin , eieio
You could start a class on who, what, where, how.

I'm clueless how to go about it myself. I've seen Periscope broadcasts that look like Bloomburg Market News with tickers flying by.

It's all so mind-boggling to me!
 

spinalcracker

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You could start a class on who, what, where, how.

I'm clueless how to go about it myself. I've seen Periscope broadcasts that look like Bloomburg Market News with tickers flying by.

It's all so mind-boggling to me!


it is so easy

if you do any online banking , buying and selling crypto is just as easy

for starters , check out the Coinbase app.....link it to your bank for example , transfer funds from your bank into Coinbase bank , and then start trading , buy $20 , 40 , 60 , $80 dollars or more at a time....

once you see how easy it is , it will not be so mind boggling
 

Zed

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The question is do we really want it to?

No...

...but it is a bit late for that.

She has been a little bit pregnant for a while now.
 

Lancers32

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Twofer. All eyes down there. 42K was a top then down to 28K.
 

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Lancers32

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For reference.
 

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Lancers32

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Armstrong is interviewed by Greg Hunter

Election Panic Coming in 2022 – Martin Armstrong​

 

Zed

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62.6K WallStSilver Apes and growing.