Crypto trading

[DEEZEDBRAH]

There are bottoming formations like "W" bottoms that are very common and also look at confluences of moving averages, etc ...

The weekly bullish order block lies around 10-12K, which is where I expect us to eventually bottom out around.

I hope you are right. I keep DCAing. My only heed for caution is 100k us 2021 btc that everyone expected. 17k might be the bottom. I don't know. I hope you are correct. I expect a 100 pts rate hike. Very unpopular opinion.

 

[DEEZEDBRAH]

That definitely is coming, just not sure what time frame that will be, could be a couple of years. They very well may pivot on rates and QE before hand to try and keep the system alive before a CBDC rollout. Besides a higher level of control, a CBDC doesn't solve all the issues out there and that continue to develop like supply chain disruptions, inflation and layoffs. Central banks and govts going to have massive credibility issues

Even then many could try banning crypto or regulations to the extreme end to rekt the game. I know it's coming. I don't trust them. Only fools will buy into the scheme. If the past two year scam hasn't been telling, there's no levels of diabolical stupidity they won't stop at to secure the ****ery.

 

[DEEZEDBRAH]

Assets tied to debt are also are heavily impacted by increasing interest rates such as Tech and Real estate. Parts of the economy will have fits of deflation while others inflation, most likely energy and consumables. An increase in a couple percentage points to mortgages will also crash equity values with the decrease in consumer purchasing power. Anyone who bought in the past 2 years will most likely be underwater at some point. Add in the increased rates will push lay offs much higher as well. A lot of moving parts and variables.

Especially anybody who bought too much house.

New plan is to keep DCAING. If we crash below previous all time low, I will ape in. Hard. Real hard. I'm accumulating more dry powder. More than I'd like especially with inflation. Expect to crash before the fed meeting. Hoping for a lower bottom. Taking the W on any dip.

 

[Reyaj]

Get ready folks I think we are going to see a surge within the next 3-4 weeks

 

[DEEZEDBRAH]

I think that this is a trap. Alternatively, it could be legit. If whales know the fed is raising a mediocre 50 points but at 9.1% inflation, I'm expecting 100 at least. I'd expect the market to reflect that. It's incredibly difficult to understand wtf is going on. I regret not deploying more but I also think we retest prior lows IF not lower.

Ironically enough, I had thought we were breaking 100k usd last year before Christmas. I was wrong.

I have no idea wtf is going on. I'd expect the market to dip next weekend. More DCAing going forward. If we crash or any new lows, I'm going to ape in hard.

 

[DEEZEDBRAH]

Get ready folks I think we are going to see a surge within the next 3-4 weeks

You could be correct but with the FED, with the next shoe to drop, Mt Gox, and whatever else is a surprise waiting, I'm skeptical. I think you could be correct but great for the short term.

Even acquiring btc now is a W compared to a few months ago.

 

[Roober]

You could buy now and you will probably still be up in a year.

I believe we haven’t seen the bottom yet though.

 

[BackInTheGame78]

You could buy now and you will probably still be up in a year.

I believe we haven’t seen the bottom yet though.

Yeah most likely but I think we are going to bottom out around 10-12K

 

[DEEZEDBRAH]

Yeah most likely but I think we are going to bottom out around 10-12K

Seriously? I expected a full 1% raise. Wrong. I thought 100k btc usd. Wrong. I feel like George Costanza. Do the opposite.

I suspect were going lower BUT I've been wrong more than I can count. I dca and I ape in on the dip. The only thing that I suspect a huge crash is regulations and the next shoe to drop. Another Luna like scenario. Tomorrow's CPI numbers.

In the short, a 2x on eth. Maybe if you pick the right alt. Way too much dry powder. Playing the waiting game. I expect a pull back tomorrow.

 

[DEEZEDBRAH]

Curious if anybody evaluated the actual value of btc? Not the high which was a lot of free money but it's actual intrinsic value?

 

[Reyaj]

Alright wtf is the deal with this.. it keeps moving up and down but hasn't made significant gains in a long time...

What happened last year where it seemed like an inevitable climber to now where it's as uncertain as ever??

 

[VirtuousD]

Alright wtf is the deal with this.. it keeps moving up and down but hasn't made significant gains in a long time...

What happened last year where it seemed like an inevitable climber to now where it's as uncertain as ever??

War and inflation.

 

[Reyaj]

War and inflation.

Now probably would be a good time to load up. Stocks too right?

 

[Bingo-Player]

Alright wtf is the deal with this.. it keeps moving up and down but hasn't made significant gains in a long time...

What happened last year where it seemed like an inevitable climber to now where it's as uncertain as ever??

It has zero tangible value so for the
vast majority of crypto "tokens" to be worth anything the market needs a very healthy economy with a lot of positive sentiment or FOMO

Unfortunately now the global economy is nearing total collapse and sentiment for speculative tech projects that produce no tangible value is non existent the bottom has fallen out of the market

Remember last year they were saying Bitcoin was going to be the safest hedge against inflation there was a lot of if's but's and maybe's

Now a year later we know it is definitely not a hedge against inflation and operates more akin to a startup tech stock

 

[Reyaj]

It has zero tangible value so for the
vast majority of crypto "tokens" to be worth anything the market needs a very healthy economy with a lot of positive sentiment or FOMO

Unfortunately now the global economy is nearing total collapse and sentiment for speculative tech projects that produce no tangible value is non existent the bottom has fallen out of the market

Remember last year they were saying Bitcoin was going to be the safest hedge against inflation there was a lot of if's but's and maybe's

Now a year later we know it is definitely not a hedge against inflation and operates more akin to a startup tech stock

Do you think it has a future when the economy rebounds?

 

[AAAgent]

Do you think it has a future when the economy rebounds?

We're probably approaching the bottom. I've been telling my friends to start scooping up anything below $19k and to be prepared to scoop up more when people are panicking.

That, or you can hold paper currencies or hard assets. Although i feel the continuous interest rate hikes are going to crush businesses and many hard assets as well as the market further but not have enough impact to halt inflation.

 

[Bible_Belt]

Do you think it has a future when the economy rebounds?

Recessions take a while to play out, and the stock market is going nowhere but down while that happens. Look at a chart of M2, the free money days are over. BTC has performed up until now on par with the nasdaq, so there is no reason for this to be a bottom.

 

[Bingo-Player]

Do you think it has a future when the economy rebounds?

I personally think there will have been too many "burnt hands"

Crypto has lost 70% of it's market cap in a year there will be some winners but a lot more losers and bag holders and its the losers you always need to pump the price back up

People have admittedly been taken for fools and have been sold magic beans for 40-50- 60 grand a piece

There's a few red faces now but a lot more to come

I don't believe we have even seen herd panic in the crypto market yet , i think panic could easily mean you wake up one morning and there is literally nothing left

The schemes are close to breaking point because of the wider economic situation

Many countries on verge of very deep recessions / bankruptcy

i see absolutely no reason why anyone would be wanting to hold something as unstable as crypto through these times seems like a financial death sentence

 

[Reyaj]

Recessions take a while to play out, and the stock market is going nowhere but down while that happens. Look at a chart of M2, the free money days are over. BTC has performed up until now on par with the nasdaq, so there is no reason for this to be a bottom.

Do you mean you expect it to fall parallel with the stock market?

I personally think there will have been too many "burnt hands"

Crypto has lost 70% of it's market cap in a year there will be some winners but a lot more losers and bag holders and its the losers you always need to pump the price back up

People have admittedly been taken for fools and have been sold magic beans for 40-50- 60 grand a piece

There's a few red faces now but a lot more to come

I don't believe we have even seen herd panic in the crypto market yet , i think panic could easily mean you wake up one morning and there is literally nothing left

The schemes are close to breaking point because of the wider economic situation

Many countries on verge of very deep recessions / bankruptcy

i see absolutely no reason why anyone would be wanting to hold something as unstable as crypto through these times seems like a financial death sentence

Well I think it depends on if this currency/technology has a future... Tesla was high and low and one point when electric cars weren't forcasted to be significant and that market has certainly grown. Same with Amazon when Brick and Mortar shops ran everything.. it has done great in the post years..

So if crypto itself can be a game changer couldn't it grow huge also at some point?

 

[jaygreenb]

Do you mean you expect it to fall parallel with the stock market?



Well I think it depends on if this currency/technology has a future... Tesla was high and low and one point when electric cars weren't forcasted to be significant and that market has certainly grown. Same with Amazon when Brick and Mortar shops ran everything.. it has done great in the post years..

So if crypto itself can be a game changer couldn't it grow huge also at some point?

My personal belief in btc long term has not changed, the value is in being the most secure decentralized payment network ever created. The value is in the integrity, set rules and amount of participants. Everything could get rough for a while, there aren't really too many places to hide out other than USD, even that is just trying to time the short term. 99% of the other coins are most likely completely worthless, there will be a few winners but that is anyones best guess. Eth is probably one of the safer alt coin plays. All assets values right now are really based on when the fed pivots, I imagine that will not be until something catastrophically breaks. When that is, nobody knows. Will most likely take some time for this recession/depression to play out. Just make sure you are positioned accordingly. Took a long time after the dot com bust for the winners to recover, just make sure you are prepared for that. Right now I am mainly btc/eth, physical precious metals and a large cash position. I have some real estate and my business too but those aren't very liquid. Just make sure you are positioned to ride out a tough stretch and have minimal debt. There will most likely be generational buying opportunities in multiple asset classes if you have the dry powder.