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Saylor, Woods et al are praying that other companies are willing go into debt to buy bitcoin. Haven't seen much of that. Why do you suppose that is?
When you say big things, does that include new equity financings?
On the daily chart which is most important INTV has IMO a confirmed double bottom and has been trading ABOVE the 200dma for the seventh straight trading day.
Bitcoin sitting on top of 100dma support. I haven't sold anything yet. Still think it should make it up to and even a little past the 200dma but if it doesn't work out I'm not far from stopping out of mining stocks except INTV.
Great chart. Lots of colors and stuff. As soon as enough people see this it will become completely useless because IMO folks have to stay ahead of what the cannon fodder are doing or seeing.
https://www.newtraderu.com/2021/06/13/wall-street-cheat-sheet/
Bitcoin has had a pretty good run. 200dma is around 44.7k. Big Kahuna of resistance. The stronger the resistance the more the advance is expected to be stopped by it and therefore the greater relevance in breaking upward through it. Two-edged sword.
Likely run into some trouble around 25 cents.
I contribute what I can. I sincerely hope every one of you guys makes a million dollars.
1st Bitcoin Cavalry fighting the resistance of the 100dma and the 250dma coming together at around 40.4k and doing a good job right now. The big test if it comes will be the 200dma at 44.6 which has just recently finally turned downward. If bitcoin can get above that level and then come back down and successfully test it, the game starts to change bigly. I imagine every short tribe will be waiting for us at the 200 , the apaches ,the comanches, the sioux, yep all of them. Where is John Wayne when you need him?
There will never be a shortage of bitcoin. IMO it'll never be an issue. Wall St is in firm control of that. Futures, options and rehypothecation are just some of the many tools available to the manipulators.
Bitcoin fighting the battle of the 200ema all day long is not doing badly IMO. If it continues to hang in, the refusal (so far) to give up recent gains could pop up on various radars. stay tuned...
Hopefully former resistance areas now turn into support for bitcoin.
I guess it depends on whose chart you use. On my chart bitcoin so far made a lower high than the 41.3 high in June. If that holds up then what we had is a normal bear market rally which was what was to be expected. IMO It was likely fueled with rumors about Tether which I suspect drove some guys out of Tether and into bitcoin because there is no direct fiat escape from Tether for most people. Then an insane rumor about Amazon accepting bitcoin which I read has been denied. IMO More likely Amazon is preparing for Fedcoin. Doesn't mean bitcoin can't continue to catch fire but it is still in a bear market until it isn't.
https://money.usnews.com/investing/news/articles/2021-07-26/amazon-denies-report-of-accepting-bitcoin-as-payment
I think INTV has one of the better btc miner charts. The way I see it INTV stock price has outperformed btc price since the middle of May which is an important bullish divergence and today hit the highest level at .23 since early May while riot and mara are not even close to doing that. Tells you something about where the sellers are at in INTV IMO. INTV has recent bull flips in ppo pmo macd adx and vtx among others. Of greater Importance is since RSI bottomed May 19th it has printed a series of higher highs and higher lows. If buyside volume should appear watch out.
Volume picking up on bitcoin which is picking off resistance areas one after another. Keeping an eye on Tether. I wish it was gone already.
If Tether (third largest crypto)finally blows up I doubt if anybody knows how that will effect crypto.
Possibly something going on with wildcard Tether.
Bitcoin internal technicals are on the verge of showing improvement. Biggest elephant in the room is missing volume. Those most hopelessly bagged are desperate to get the robin-hooders and tic-tokers involved as the majority of the typical cannon fodder seems either disinterested or (God forbid) wiser.
When the stock market crashes the nyse, nasdaq et al halt trading, sometimes for more than a week. I wonder what will happen with the crypto brokers like coinbase etc. I wonder if they will halt trading. If they don't is it possible they risk cryptos being shorted down to undreamed of levels? Also who knows if they have any capital requirements or other safety measures to keep them from imploding in a crash? I don't trust any of them any more. Any thoughts?
IMO bitcoin is acting OK for now. Taking a while to get through resistance is normal. A reasonable (moving) target is around 36k if the bulls can manage that much. Trouble is even after some of the major shills have a super publicized sales meeting it didn't seem to be able get a good cannon fodder ignition going at least so far. Perhaps because there are still too many wanting out of this mess.
Well here's the bounce I was looking for..... first resistance about 33k then 6 (count'em) more areas of resistance running up to about 44.6k which is certainly hoping for way too much but I will enjoy it and make some money while I can.
Bitcoin seems overdue for a bounce. Volume is picking up on the downside, of course this may be at least partially due to the Grayscale unlocking. If no bounce materializes over the next few days, IMO the next target is around 27.8k then if that doesn't hold around 23k. These are Fibonacci targets. Some guys are calling for a between 8k and 12k bottom but I don't attempt to look out that far and unless I see a blowoff bottom coming I have learned to wait until the actual bottom is in the rear view mirror before going long as IMO bottoms and tops are best handled as hindsight items.
Why does TA work so well? Because human nature does not change.
https://www.zerohedge.com/markets/knowledge-vs-experience-why-most-investors-wind-losing
Last Friday the 16th bitcoin had a new low close since the peak. I see several potential support zones going down from here all of them before 20k. Things can change and the bear market will be over when it's over.
IMO in normal times Bitcoin shorts rising is bullish while bitcoin shorts declining is bearish. Like many other indicators It's best understood as counterintuitive because the public is almost always wrong.
https://www.tradingview.com/symbols/BTCUSDSHORTS/
Moment of truth is here for INTV sitting on top of the last MA support at .15 area. IF it doesn't hold then next support is Fibonacci around .125 and the final Fibo support is around .08. Not a prediction and I don't care anyway. I'll ride my few shares back down to .03 if that is what happens. INTV has been my only consistent crypto item since the first day bitcoin closed below the 50dma. IMO at some point bitcoin should have a limited but playable rally. I'm totally surprised and totally dismayed we haven't seen it yet. Probably have to come from some lower level as I still have seen no sign of a btc bottom. I just hope a few months from now guys are not left sitting where they are wishing for the return of the good old days of 30k... but bitcoin is going to do what it is going to do and all I can do is watch and wait for an opportunity to go long. If it comes to where I see a blowoff bottom developing for bitcoin I will have laddered buy orders in and in advance on several miners including this one.
IMO the reason bitcoin is still permitted to exist is because it is irrelevant to the govt with less than one quarter of one percent or so of Americans owning any bitcoin. Much bigger concern right now is the guys who control the price.
Unfortunately Powell and his digital dollar should they choose to use it has armies, police, courts, espionage agencies, prison, ISP and internet and power grid control on his side and the fiat currency backed by the capital worth of the greatest country on earth whereas crypto has advertising and gullibility on it's side backed by a semi-religious belief and bitcoin in particular has little else other than a dwindling supply (for now) of greater fools.
Do you think Willy Woo and those other guys get paid in dollars or bitcoin to say these things and write these articles for the benefit of the comicbook reading video game playing cannon fodder? Not a hard question.
That's nothing....I googled Willy Woo says bitcoin $400,000 by December. On second thought Maybe I should have googled Willy Woo says bitcoin $2,000,000 by September or better yet by July 16th. Tomorrow is not too soon! After all, Two million tomorrow is way better than 400k weeks from now. How come these guys never seem to predict bitcoin $10 by March?
https://www.cryptoglobe.com/latest/2021/05/crypto-analyst-willy-woo-bitcoin-price-could-be-in-300k-400k-range-by-december/
Why the cryptos all move together. Big money AI.
https://www.cnbc.com/2021/07/14/dogecoin-co-creator-jackson-palmer-criticizes-the-crypto-industry.html
There is no way I could tolerate a reverse split for INTV. Every reverse split I can recall absolutely destroyed current shareholders.
Very well could be those type of people but I think it's all about the money. It's big money AI controlling crypto. It's a shame it has come to this but that's how markets run today. Trouble is they can't just sell to themselves or each other. On the other hand what makes bitcoin so much fun and so cool is that there are no distractions like earnings, sales, dividend, plants and equipment...nothing...just only simple temporary crowd appeal...just simple TA. It's a trading vehicle without any real life attachments to go right or wrong. Most fun thing out there as long as it lasts.
With bitcoin and the alts all moving in the same direction about the same percentage amount and Mara and RIOT in lock step like they have been doing for quite a while now, do you ever wonder why that is and so what that says about who is actually in charge of the crypto game? Who is running this show?
Never thought of INTV as an earnings play so another 8mm dilution is of little concern to me. Bitcoin bear market is 90 percent of major concern right now IMO. I still don't see signs it has bottomed yet but although I am not betting on it at this point, things can change. One other thing, I completely stopped leaving any money whatsoever at Coinbase and Kraken.
Yes I think there is hope for INTV. It just had an 80some % rally from 12.something cents to about 22 cents. Huge percentage move. I think bitcoin is in a trading range of between 10k and 50k. For now... but it's old tech waiting for an upgrade replacement. IMO at this time there are no unique characteristics of BTC or any other cryptocurrency which couldn't be replicated by other UNLIMITED cryptos. The only exception being its name.
If I was forced at gunpoint to buy a bitcoin miner stock, and this based on the weekly chart and nothing else, strangely, I would have to pick INTV over MARA and RIOT if the choice was only between those three and the guy had hollow points.
Another half-mile along that road leading to complete banishment. Can't wait to see the next 10 new crypto scams next week.
https://www.zerohedge.com/markets/fake-synthetic-equities-now-trade-247-crypto-exchanges
DXY still going up as pressure coming from Russian selling is about over. Where's all those guys who said the dollar was finished? Reality strikes again.
INTV got up to 22 cents recently. That is only 2 cents from a double off the low (so far). Interesting to see who plays it smart and who doesn't. On my radar right now is likely taking profits in oil stocks this week and starting back into a couple gold stocks again which IMO look just about ready.