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The thing about a reverse split is there is no finer short. IMO Entire third world countries will want in, Captain Kirk and the entire Federation will want in.. Probably actual dead people will want in...You can't blame them....Nothing can beat it.
You guys were warned this morning. He probably didn't have to give folks that warning. You should be grateful. Whatever you do with that fair warning is on you not him. .
I'm sorry for you longs. If I had an open buy order in right now I would certainly reconsider.
Support zones are potential pivot points
On the daily chart INTV is sitting on weak support of about .033. If it breaks down the next support is around .027 then .025 while strong resistance seems to be the 200dma which is around .04 with only one close above it on several tries. No point looking at the complete disaster of the weekly chart.
Govts do not have to destroy bitcoin. They only need to make it uncomfortable enough so people think that there will be not enough people in the near and far future interested in trading bitcoin. There is always a bull market somewhere else and the only reason anybody buys bitcoin is to make money (dollars) hopefully from some greater fool down the road. The most fun part of bitcoin is that there is absolutely nothing backing it up.It is pure naked risk taking. Every day you wake up and bitcoin has not hit zero yet is a plus.
Probably help if I included the link
https://www.zerohedge.com/crypto/uk-government-pursues-digital-pound-while-bank-ceos-restrict-bitcoin-access
Check out what is happening to bitcoin by the govt in the UK and see the future.
Bitcoin still has a shot at 25k but time is running low. The trapped whales have desperately tried everything this year to lure the cannon fodder back on to the hook but there is simply not enough new money coming in so far. However It's bitcoin so anything can happen.
3.3 cents is the center (heart) line of a channel system I use. The channel is currently rising so the heartline is moving up. It can frequently be temporary support or resistance as the case may be but not as good as strong volume related support. The more time goes on the more I lean toward using A. I.dominated indicators
Right now first support for INTV is 3.3 cents and that is a moving target.. After that, things are too muddled for me to find further support at this time but it will reveal itself in time if needed.
INTV seems to have suspiciously outperformed the rest of the group so I dont know what it will do.
Is the ceo warning you again? Remember, he said replacing not adding. What will happen to the stock if there is additional equity financing?
Even though bitcoin has bullish news, it is clearly running out of steam for now. Seeing several bearish crosses over the last few days in various indicators. First support is around 22.1k. Of course the people who control btc can move it anywhere it suits them.
Bitcoin bullish news....
https://fortune.com/2023/02/02/bitcoin-manipulation-price-outlook/
BTC should be able to get near that 25k area Ive been hoping for where it hits lots and lots of resistance. Right now I intend to start selling a little while before that. There are hundreds of guys just waiting to break even around that number. If btc can convincingly break through that area sometime in the future I can always buy back in but I suspect instead I will have to wait for a support zone somewhere below the 25k target.
For the guys who are bullish long term on this stock...On the INTV weekly chart I see a bullish ADX cross for the first time in more than a year. RSI is still bearish but also higher than its been in over a year. Probably other positive (for longs) things out there. The weekly chart is more important than the daily chart. Doesnt mean much for the short term where the btc rally might still have a little ways to go but appears to be running out of gas. I have not sold anything but I always use a fairly tight stop. IMO a stop is always the smartest strategy for me because I dont know everything.
Big option exp day for btc.
Hard to pick on the ceo. Number one, he is not supposed to be and not going to be anybodys benevolent grandmother to tuck you in at night.. He has done well for himself and also by keeping this company alive and growing in a difficult temporary 'industry'.If you don't like his moves, move on. There is always a bull market somewhere. Number two he was the ceo who produced a stock while many guys myself included, were here that went 80x. I made (booked) more than 70x on that move on the way up. I. posted it at the time ..You only get one of those. Don't blame the ceo if you didn't sell, the opportunity was there, he was in charge .If you got destroyed it's your fault. Number three, the entire time ive been here I do not recall the ceo or his mouthpiece say 'buy this stock'. In fact he warns you like recently...computers need replacement soon or like some of the language in the quarterly govt reports.
Good enough. I sincerely hope everybody on this board makes a million dollars.
Most banks around the world make a substantial essential profit creating dollar loans. All together including the current bad guys Russian and Iranian and Chinese banks they control the world economy. They will not change anything. The infrastructure is too big to change for one thing. It is the dominating feature of finance in most countries. You only read the stuff they want you to know or else whaever clickbait is currently working.
What about INTV at the next halving? Same for any junior miner?
You can't compare bitcoin to gold. That is a farcial sales tactic aimed at the cannon fodder.. Gold has been a feature of almost every civilization around the entire world throughtout recorded history. All comparisons are done on how bitcoin has performed in fiat vs gold recently. Gold is real while bitcoin is made out of nothing. IMO Bitcoin is dominated by the professional shorts nowadays. IMO they will not let it get out of thier control on the upside. Smart folks play both sides.
Bitcoin has proven it has no use other than a pretty good trading vehicle (for now) unless you think millions of people need to move thier bitcoin across borders every day and they somhow lost thier debit card. Ford produces cars and Apple produces phones. Bitcoin has no redeeming features. Bitcoin has long been co-opted by big money as a means to fleece the public. People who think the dollar is going away must have no idea of the size of the dollar market around the world and what that size means. It has been estimated that it would take 100 years to replace it and it is thriving today.. Nobody buys or sells INTV with anything other than dollars. Speaking of INTV, next year is the halving. If INTV can survive that long what do you think happens to the company then? How do you think that limits the stock today and going forward toward that time as an investment?
Why is it so hard to understand that the only value bitcoin has is to then sell it higher? You buy it for one reason alone, to sell it to someone else for more money than you paid. Everyone is looking for easy money but as always timing is everything and everything presented as easy money is a well designed trap that has worked for hundreds of years. No better example than bitcoin miner stocks.. As ever, there will be just enough well publicized winners to keep the bait working..
Bitcoin still has a decent shot at the 25k area. That should bring strong resistance. The way I look at when you have resistance on a chart and if the stock can break upward through it, the stronger that resistance was the more relevant and important the breakthrough becomes. 25k area, if btc gets there should be a good test of strength.
I said in an earlier post that 25k was the real target and 21.5k would not be much resistance. If one day bad candles was going to change that I would have said it. What I can say right now is that there is a possibility of a liquidity trap forming. The coming week will tell that story IMO.
As I suspected, bitcoin didn't think much of 21.5 resistance and now has a shot at the 25k area.
There were some bad candles yesterday maybe because DXY is at or near support.
The rumor is that it was the govt buying the bitcoin to pay off the hacker of the FAA computers. Same exact thing in Canada a day later. Might be true, who knows? We will know if bitcoin breaks down through the 20k area convincingly. Otherwise it appears to be normal action assuming the short squeeze is still on. In any event like I said, you gotta be quick. Not surprising that Russia and Iran are going to start using a gold backed stablecoin for regional commerce instead of useless old tech bitcoin.
Bitcoin is very overbot short term.. Doesn't mean the short squeeze is over, just needs a rest.
IMO 21.5 is not an extremely big obsticle. 25k is a more important target. Of course all of this can blow up at any time. Gotta be quick.
The btc trading indicator I referred to landed squarely on a bull signal last night. This is just one factor but it has a very good record of success for calling the start of a playable upside rally. There is still a lot of negative TA to get through first and no one indicator is a sure thing.
Ever notice what kind of geniuses ride a stock all the way down to two cents from 80 cents? Whoa Nelly!!! now that is really something. Never even seen or even heard of that before Wow!!
How much has changed since it was first supposed that bitcoin mining was 'profitable' at 12k.
Bitcoin sitting at big resistance has a shot at producing a major bull signal. Depends on where it closes today. Very close and if it happens it must be today only. That aside, what is going to happen when INTV announces toxic financing? If they don't need it why was the last deal ultra-toxic? How could it possibly been worse? Shareholders were destroyed.
My goodness bullying with of all things, the truth ....well that is your opinion. My agenda has always been to get to what is real and I post both sides as I see it.. INTV is only my hobby but I actually made (booked) money on the long side last week. I cannot however, see this stock surviving for long. Squeezed out by the big miners is my guess.
Bitcoin hit the 21k target price on the upside.