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Maybe somebody running it up in hope of generating some exit liquidity.
I would like to think bitcoin is going to just keep going but I feel like I need to be vigilant from here on up to and a little above the recent high for a potential double top which if it came to pass would be devastating IMO. Nothing I watch is pointing to that or even hinting at that right now. BTW one of the things I am watching is BITI for a potential double bottom which could occur first as the pro's get short.
The weekly bitcoin chart is drawing a bull flag which is expected action after a bull run while the bear flag developing on the daily chart appears to be a fakeout at this point.
Bitcoin correction could be over. I don't know how the halving will affect trading in the near term. I believe the halving will still be a sales tool which brings up the point that with the etf's available there will be a ton of stockbrokers selling this kind of stuff to the public which is ultra bullish IMO. I have a hard time believing that Wall St will let bitcoin get out of their control however. For guys like me who are actually more interested in making money than ego the best course by far is trading not holding. I am still afraid of the miners but the biggest ones might benefit from a washout of the industry. Some time ago I posted that IMO the best idea for INTV was to give up bitcoin mining and take up gold mining. If that would have happened where would the INTV stock price be now?
Bitcoin doing ok as expected but not the mining stocks also as expected. The misconception about bitcoin even after the halving is scarcity. IMO There is no scarcity due to bitcoin equivalents and available manipulations. Doesn't mean bitcoin won't go up. It all depends what the people who control the trading want to happen and more importantly (to me anyway) when they want it to happen.
Bitcoin is following the script so far. I have a moving target around 58k right now. It's bitcoin and it can turn on a dime anytime so we will see.
For whatever it is worth INTV is currently oversold. Please don't laugh, it's worth at least a little something. The stock needs some sunshine from somewhere..
Seems like a reasonable target given I do not have much faith in the viability of small miners going forward and not just INTV I would like to think that could change if bitcoin somehow goes up a whole bunch from here but what stops me is the cold hard facts. The actual evidence says that while bitcoin almost 5x'ed off the 15k low INTV stock price lost about 67 percent in the exact same time frame, about a year and a half and if that long term trend continues it could lose another 67 percent in the next year and a half resulting in the stock price of about 37 cents. .So tell me why and when that long term trend should change. What am I not seeing? Is bitcoin 5xing not enough? If not then what is?
This stock has been in a tailspin since early December and has lost about 50 percent since then so where does it come in for a landing? My guess is 37 cents.
Bitcoin has been overbot for a while on the daily chart but that does not mean it's going to turn. Right now there are no reliable 'educated' guesses for traders. There is Fibo and there is measured moves. Momentum trumps these things and will rule the day until it doesn't. End of qtr window dressing season should favor bitcoin etf's. Meanwhile INTV is closing in on the 52 week low. Lordy Mercy!
If bitcoin keeps going, the rising tide might raise ALL the ships. Now, you still may be left with the liquidity trap on this leaky old boat.
Do you think it's going to get better?
My etf's are up about 4 and a half percent today. Miners getting killed again. Scared not enough of the next greater fools won't buy them if I do even when I think the time is right. If they have a washout at some point that would get me in for a quick trade on the long side. Not interested on the short side.
I have no idea about the INTV machines. I think small miners in general will have a hard time after the halving.
If bitcoin continues to the upside, IMO it now becomes gambling instead of easy to make money up and down trading. Very few techinal tools in new territory. The reason I bring this up is because many will feel the same way about it.
Did a little research... a big mac price is now 8.30 whereas last march the price was 5.40 so that is close to a 60 percent rise in one year and close to a double since march 2022. However with the appropriate seasonal adjustment and latest new method of calculating inflation rate the inflation rate comes in at 3 percent. Great job! Keep voting these guys in.
Bitcoin seems to have bumped up against the ascending channel upper boundry trendline. No idea what happens next but for the moment I am keeping a small etf long. I would like to think INTV is pretty well sold out but sure as I say that somebody somewhere will finally have had enough and knock the stock down to 30 cents.so I am not going to say it.
Question, how many or what percentage of machines will have to be turned off because they become instantly obsolete due to the halving? I wonder if this could turn out to be a goldmine opportunity for the guys with the newest fastest machines? Maybe some miner stocks arent quite finished yet.
Tweet, If the fiat currency ever fails as our currency what would likely replace it is unthinkable. What everybody forgets is that there are ways yet unused (so far this time) to reduce and even somewhat cancel the national debt. I watch gold. It is extremely important for gold to continue to be manipulated as gold is the canary in the coal mine for the international status of the dollar as the world reserve currency. I dont necessarily believe all the meaningless noise constantly around the fate of the dollar which is still by far the cleanest dirty shirt in the dirty shirt pile. It is still used almost exclusively by the end user buisnessman worldwide in spite of the lies of various governments and that is what counts not what you hear on cnn or msnbc.
Bitcoin ran into the old high and that is always an opportunity for Wall St to run the longs mostly those who are using leverage and so far bitcoin is obeying an important ascending channel top trend line just above the old high.. It will not be easy for bitcoin to get above current levels is my guess but of course its crypto so anything can happen. At some point bitcoin should resume the uptrend but the most money by far is made trading the ups and downs.
Looks like I was right about yesterdays action. Liquidate the small players. How many times have we seen that, 100? I still think bitcoin may bounce around the old high for a time and then.probably back off but not too far. We will see.
Of course it's completely manipulated, why do you think they have options and futures. Why do you think they have rehypothication. What use would bitcoin be if it couldn't be manipulated to drain the publics money. And now they finally own enough govt types so that they even got blackrock to do a 180 and love bitcoin (for now)...... It has never been easier to make a fortune.in bitcoin You learn how to trade with them instead of against them. Any 12 yr old can do it. Look at what they do not what they say. For example they don't hold ,do they? They pull money out. Reasonable money not try for stupid outrageous money. How do you know if blackrock was not behind the selling today. They can stuff the portfolio with equivelants and borrow bitcoin and lend bitcoin to make you think the portfolio is static....
Can you just imagine somebody who paid 69k for bitcoin and 2 hours later it's 59k? I think todays action is aimed squarely at the same cannon fodder public who have made Wall St rich every year for 300 years. Human nature never changes..
There is nothing wrong with this stock that reincarnation wouldn't cure..
I talked about this before, the miners have been telling you all along what to expect by not performing one bit like they did the last time bitcoin took off. For example is mara anywhere near 80? IMO biitcoin is about to run into massive resistance two ways, one at the old high and the oither a very important trendline running just above the old high. If these things do not stop bitcoin then it's anybodys guess what happens next.
Halving getting closer. Money going to etfs. Difficulty getting worse and more brand new machines going online every day means the slice of the pie gets thinner while many giant mining opps overseas coming online soon. Still don't see how small miners can continue to flourish. Question, do you see any handwriting on the wall?
Closing in on my target just above the old high on bitcoin. I suspect it might hang around there a bit to bring in fomo money once the cannon fodder figure out it hit a new high then could be a fairly long (in time) retreat. We will see.
Things change. We need to be flexible and change with them. I understand that I don't know everything so I always use a stop. Sure, I get whipsawed but I have no illusions about catching tops and bottoms and this has allowed me to never ride something down 99 percent and be blown out of the game. I hit a lot of singles and doubles and leave the home runs to the other fools. When you got something going bad the absolute worst thing to think is that it might get better tomorrow.
Possible tweezer top on bitcoin daily chart. Wall St has to make a living too.
Big money leaving miners for the etfs. INTV is a liquidity trap however if there is some type of btc blow off event you might get a short window to sell. Devastating day for miners today. Pearl Harbor stuff.
You don't see btc non-mining stocks acting bad,do you? Weeks ago I said there are bitcoin stocks other than miners.
Still a good chance bitcoin gets slightly above old high. If there is a blowout event at some point and INTV trades volume I hope some guys will take the opportunity . You may not have another one.
I think if btc keeps running INTV will benefit. The question is by how much and the other question is how good are you at moving in and out with no liquidity. Still, there might come a chance to sell one day but you guys will have to be alert for once. Think it through beforehand. The last three times I traded INTV I made money. It was all documented on this board each time.. Anybody can do it.
INTV showing some signs of starting to look sold out. Don't know if it's enough. Things change.
Bitcoin mining difficulty almost 3x in the last year and is speeding up most of the time.
https://www.coinwarz.com/mining/bitcoin/difficulty-chart
Bitcoin might be drawing a gravestone doji today. Sold a portion of some stuff to step aside for a time. If wrong I will happily buy back in at a higher level. If right I will happily buy back in at a lower level.
The only reason bitcoin is allowed to exist is because it is not a serious threat to the govt. I do not believe in a dollar collapse for the next 100 years because it would collapse the whole world along with it. I believe the U S govt would use all means to maintain its world dominance. If the govt took away your ability to trade bitcoin it would be finished as it's only use is a trading vehicle and that only by continous mutual consent as long as that lasts.
The resistance from here on up is almost entirely Fib levels. There was relatively little bitcoin traded at these higher levels so relativey few waiting to break even and sell. This should lead to greater volitility in both directions on the way up to the old highs. Oh boy!
What makes you think he doesn't care about stockholders? He's by far the biggest stockholder. I'm sure he would like the stock to trade at 20 bucks. Lots of guys drank the koolaid that bitcoin was going to a million dollars at least a hundred times starting several years ago. If that would have happened the stock might be 20. Of course reality has raised it's head a number of times since that 'guarantee'. Bitcoin is a trading vehicle in which you can easily become a millionaire but only if you learn to trade with the professionals and not against them. The key word being trade. INTV presplit price is .012 today. If I was destroyed in a stock I would take my lumps and start over today.
Bitcoin seems to be on track to a new high slightly above the old high the way I see it with some but not very much resistance right here and around 62.5k and of course a lot at the old high. Time will tell.