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Coming close to First Fibo support at 48.8 area. We'll see if it's made out of butter or something better than butter.
Stopped out early today. I'll be back in when I think its safe
20stockman Does it trouble you at all that 97% of everything you hear or read about bitcoin is bullish? Only a fool would think this could possibly be credible. INTV has turned into a well run company yet if the market was that easy how come this stock lost about 70% from the recent high SO FAR? It is a well known fact that the vast majority of the trading public loses money in the market. Been that way for as far back as they have kept records. However the only way the market can work is if the majority fall for the advertising that turns them into the needed cannon fodder.
IMO the one thing the U.S. cannot tolerate is an attack on U.S. Dollar world wide hegemony. It will go to war and total war to protect it. The world knows this. If/when bitcoin starts to be headed in that direction the U.S. will not allow it to happen and use any and all means available just like they do not allow the gold market to interfere with dollar hegemony and the gold market is 9 times the size of the bitcoin market. They may not have to outlaw bitcoin. They can easily control the bitcoin price just like they have controlled the gold price for decades driving away new and then current investors. This control was the reason they formed a futures market for bitcoin. So far Bitcoin has been a great trading vehicle and it's most likely not over yet but in the long run I would absolutely not bet against U.S.A. survival. JMO.
There is strong chart support for INTV starting at about .188. Two-edged sword. Next BTC support around 48.8k. The 50dma is now resistance.
I guess I should mention Bitcoin now has the lowest RSI since last OCT. My Goodness!
Bitcoin closed below the 50dma for the first time in the entire uptrend going all the way back to last Oct. I was hoping for one last rally up to about the 59k level.
It could become the govt policy to hold btc price to a specific level. Easy to do. You could be made into a felon. Easy to do. Your ISP could be shut down. Easy to do. 55 more ways at minimum to stop btc whenever they decide to. They will always allow time to get their friends out first. Might be what is going on right now. The job of the market is to take your money and 90 some percent of you will lose. It has always been thus.
Anything can be a bubble market. Investments go in and out of favor. Check out the bottom of the 1974 bear market for SPX if you want to see just how much out of favor things can get. Bitcoin probably has a fair amount of time left but the party in power wants to control everything so that probably shortens the time it has left. You just have to be watchful and look for the signs that tell you they are about to pull the plug.
20stockman there is plenty of help available on youtube.
I like the tweezer along with the BB squeeze. I am taking a shot. Do not expect to be in it very long.
BTC is trying very hard to hold the 50dma. It has wicked down below it several times and the bulls bring it right back up. I expect one more rally back up to about 59k. Have to see how it acts then.
Right now at 12:20 the stock is drawing a tweezer bottom but it needs to close like that if it is to be considered important.
nwsun, cryptos for market purposes are trading vehicles just like everything else. They are not a religion. Therefore they have both bull and bear trends. Bitcoin is a great example of this as it has had both really huge bull and really huge bear trends several times in the past. At some point the recent really huge bull trend will be over. No reason to expect anything else. Right now there is some suspicion that the btc bull trend is in trouble. Might be , might not be (yet). Need more evidence but miner stocks which were acting poorly before btc broke down have been trying to tell us a story. Furthermore a store of value can work just as good at ten dollars as it can at a thousand dollars as long as it keeps pace with inflation..... However, whichever way bitcoin wants to go tomorrow there is always a bull market going on somewhere. For example gold started a new bull trend about two weeks ago.
Please take politics elsewhere and keep the conversation centered around INTV and related issues like BTC and miners and mining. THX
INTV acting about the same as the other miners. I hoped it might do somewhat better but the day is not over yet. Riot is absolutely flirting with disaster. It is close to starting the first down leg of a now complete SHS top. IMO BTC failing to bounce hard so far is worth paying attention to.
Just like always the bulls take the stairs but the bears take the express elevator. Bitcoin holding on to important support but not roaring back at least so far. The internals are negative and that makes it a worrisome time for the potential BB Squeeze in progress. Bitcoin does not turn actually bearish until it breaks the rising 200dma right now at about 33700.
Let's see how well or not INTV stock handles this mess. Will be interesting.
BTC not a death sentence yet but another opportunity developing quickly to actually stop out when your time comes not just talk about doing it.
INTV is not a pos, quite the opposite. Mgt has done a very good job and you never read any complaints about that issue on this board. Be that as it may, due to automated trading software stocks today tend to move in groups. BTC mining stocks move mostly as a group, 420 stocks move in a group, gold stocks move in a group etc. INTV is pretty much directionally correlated with the other btc miners and btc miners are out of favor on the long side right now. I like to watch the leaders of these groups because sometimes we can get helpful hints. For example riot which has completely broken recent support closed Friday below the 50ema for the first time since the entire rally began when it was about 3 while INTV continues holding its support for the time being. Things change.
BTC Miners are in bad shape and getting worse technically while BTC still acts pretty good. INTV RSI is back where it was when the stock was 3 cents. On-balance volume has definitely rolled over after peaking earlier this year but on the plus side, right now the stock is still respecting the Fibo support. Riot rsi hasn't looked this bad since last October. The frame of reference I work in is short term oriented. Things change and then they change again.
INTV back down to support while riot has broken support. Mara, hutmf and hvbtf hanging on by a thread. All while bitcoin is acting pretty good. Maybe will help some folks appreciate and realize how important it is to take advantage of when they have been given a once in a lifetime gift.
BTC acting frisky tonight. Something different about the action.
Bitcoin is at important MA support on the 4hr chart and has been respecting this MA since it started moving to a new high starting from about 57.5k. The 4hr chart frequently gives the best trading signals.
.273 is Fibo support and if the stock stops there it forms most of a reverse SHS which if true would be bullish. If instead it keeps going down there is strong rising MA support at around .186. I could say more but I won't. Mara and riot are at important support right now so I am looking for a bounce from them both and if that happens INTV should bounce too maybe even giving bulls that reverse SHS.
I don;t know if this has already been posted
Bad day for mining stocks except this one for now. Saw this yesterday when hutmf and hvbtf had down days for no apparent reason with btc hitting new high. Big bearish engulfing candle for riot today, 10 point range but closed on support. Further breakdowns in mara which closed below support and breakdown for hutmf. From a technical perspective INTV made it up through all the little resistance areas but got stopped cold by the major resistance of .43 I mentioned a couple of days ago which means as of right now the downtrend is still intact and the recent upmove is under suspicion of being just another bear flag until proven otherwise.
This stock has had a series of lower highs and lower lows since the second week in March. It has MA resistance coming up at .357 and .37 and .41 and needs to get convincingly past .43 to most likely end the bear trend. So if it can overcome those technical issues we might see our way clear toward the upper fifties target. The last time it printed a hammer like the one we saw last week the stock went up about 34%
Bitcoin is continuing to struggle with massive resistance. There is at least a shot it will finally break through this week. If the stock market weakens remember bitcoin has had a very high directional correlation with the SPX.
I could say that this is the same company at .23 as it was at.80. Of course that helps nobody because right now it's down to .23 and could go even lower. It does however point out the difference between the the stock and the company. Same applies to bitcoin. They are all just trading vehicles in both directions and the guys who get hurt are the guys who don't realize that yet and get off the track of reality.
Not looking for much from this stock at least until bitcoin decides which way it wants to go. If btc breaks downward MA and Fibo support for INTV is no longer too far away at around .177. IMO a determined break of 53k for btc and the light goes from yellow where it is now to red.
IMO the stock performance will be largely tied to the performance of bitcoin just like the other miners. Guys need to understand that there are two separate things, one is the company (the business) and the other is the stock. They are not the same thing. I believe INTV mgt has done a very good job fundamentally with what they have to work with however while mgt does control the business it does not control the stock price.
Bitcoin support around 54.3k. Not a big deal if it stops there. Could be a big deal under 53k area where possible major SHS comes up on the radar screen. At some point the rubber band breaks.
There is some Fibo support at .273 for this stock. Strong support at .175. Current action probably related to the recent financing. BTC holding pattern not giving any hints right now.
The ceo has done all the right things unlike thousands of other penny stocks where all you read about is complaining about mgt. You do not see one post here complaining about mgt. This has caused the stock to perform pretty much in line with the bigger miners and with the low price of this stock you get a tremendous amount of price leverage you don't have with a fifty dollar stock.
Casper Good for you, you actually made some money.
Last day for 1st qtr window dressing selling. INTV still riding the rising 50dma which is good considering the circumstances. Recent under-performance not helped by the newest financing news but the reaction is better than last time. Although the easy money has already been made in this stock if bitcoin can keep moving up it should certainly help our little gem.
BTC up while DXY is surging is a good sign if it can keep going like this. Maybe bitcoin can actually overpower this challenge. Could be big for btc if turns out to be true.
Those dips at expiration on that options chart also supports my opinion of who to a large extent controls btc. Doesn't mean it won't go up though.
Kul, bitcoin is a terrific trading vehicle in both directions but only a trade. One example, Bitcoin now is all the way up to a .92 correlation with the spx and getting closer all the time. That is a fact, disturbing and sad but a fact. How can this possibly be if bitcoin is so different and so much better than all the other investments? This is because Wall St etc is increasing its influence on btc price at a rapid pace mainly via the futures market. Furthermore at some point the stock market will crash and I fully expect bitcoin to crash right along with it and probably more so exactly like it did the last time the stock market tanked. However, when that time comes btc will have its big opportunity to put up and not crash with the spx or crash and shut up.