Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Btc looking like it might be trying to complete yet another shs top on the 4 hr chart. Lordy Mercy.
Was hoping to see how Bitcoin acts up around the 11300 area but it is really struggling to get any movement at all to go along with the bad volume.
Option expiration is out of the way for btc which is one less impediment in clearing the way for movement one way or the other. Right now it still looks lower to me but not strongly so, time will tell. INTV broke down from important support at the 200dma after hanging out there for a time however today the stock drew a spinning top candle which could signify reversal because it is coming off of a fairly robust down move. IMO this stock is in a position where further ongoing dilution can have a bigger effect on it than it already has had. With the new btc mining difficulty factor I am interested to see how all btc miners act if and when btc rallies.
I was playing the short covering rally only on $link so I am out
There is one new bearish fundamental for all btc miners and that is the restrictive difficulty adjustment unveiled on Sept 20. The hash rate got too high for the btc controlling software liking. My guess is that it all comes out of China. China has been saying that it wants to control ALL btc mining. I brought this item up about a year ago and now it might be here.
The trade on $link is working out but I am not staying too long.
I'll say it one more time... a stock is down to 2 cents because it has already discounted nearly all the sins. Is this finally starting to make sense?
Are we all finally satisfied about what counts and what doesn't count for this stock in this situation?
The damage to some of the other miner stocks has become substantial. The end of Sept is also the end of the fiscal year for many mutual funds and other financial institutions. They often do not want to show losers in their portfolios at year end and that would certainly account for a lot of the selling of the crypto stocks including gbtc. Alternatively these stocks are making a statement either about bitcoin prospects or more likely the recent difficulty adjustment which is a bitcoin mining killer, doesn't matter whichever machines they are using. I am in no hurry to buy back in.
Bitcoin is not a lot of fun. The major feature on the daily chart is still the shs top. I would like to see it continue down to the 9800 area and hopefully get this downside period over with.
Should get a tradable bounce for $link coming off the 8 support. But only a bounce.
It's all about just one thing.... making money in the stock market. This stock is primed to pop 4x or more if bitcoin cooperates. It has done this already this year. It can do it again. Do you think this just might be the reason there are always buyers here?
Guys complain about dilution but when the diluters sell all those shares SOMEBODY IS ALWAYS ON THE OTHER SIDE OF THOSE TRADES! FACT! What do these buyers know that we don't?
There's got to be something right?
Ap17... what do the buyers of this stock each and EVERY DAY know that we don't?
Big giant hint!!! Every time they try to knock this stock down it bounces. Know why? Because somebody is always on the other side of that trade. What do they know???
So the pressure came off of bitcoin today for a little while and INTV is UP. This stock reacts to bitcoin just like all the other miners. The rest is meaningless fluff. I rest my case.
ChainLink coming up on first support around 8. Down from 19 points out the importance of ignoring the hype and using a stop. Hype works both ways.
Had a bearish MACD cross on the weekly chart for btc. How come bitcoin seems correlated with the spx on the downside but not on the upside?
In spite of persistent dilution and a bad acting bitcoin INTV continues to hang around the 200dma and has never broken this support convincingly since it broke above it last April. This is a hint. This is what is known as a bullish divergence.
INTV upside will stun everybody when btc rallies for real I am looking for at least 5x.
INTV HAS ALSO TRIPLED this year off it's Feb 28th low of .0078. This should surprise nobody as INTV goes up and down with btc just like the other miners as I've explained numerous times.
Btc has tripled off the March low. After the current bearishness there is no reason to think btc can't continue to go up as long as the stock market doesn't collapse.
After the completion of a shs top and the first down move it is common to see a rally back up to the breakdown area which is the bottom of the shoulder line in this case 11300 or so followed by a bigger bearish move which could bring btc down substantially below 10k.
Bitcoin is approaching the breakdown area from the shs top. Nervous time.
So what, Now we are going to cherry pick time frames? Ok you lost 99% from 6 bucks to 2 cents. Now What about up 8x from a penny? Both on the chart so Which one is better? No contest. And I can go on and on..... The idea is to make some money not talk yourself out of a chance of doing so. You can only make money by going forward not by going backward but you insist on backward every time! At 2 cents you have a shot to make really good money... Period. At 2 cents this might very well be the buy of a lifetime. Give me another stock that can do a PROVEN 8x and I will listen enthusiastically.
INTV is a penny stock for a reason or reasons. It is a great example of what penny stock trading is all about. INTV goes up and down with bitcoin just like the other btc miners. That part is proven. All you have to do is look at the chart. The difference as I see it is that this stock at 2 cents has much more price appreciation leverage if bitcoin can rally 30 or 40 percent. That to me is the entire story. Authorized shares, dilution and other minor issues do not count for anything in my opinion. Back in May of this year when this stock went from 1 cent to 8 cents it had issues like dilution just like it has today. It didn't matter did it? There are other examples. If you think like I do that btc has a fairly good chance to rally 30% at some point then this stock should work out again. Patience and ignore distractions..
Authorized shares do not matter. Issued shares do matter. These two are completely different things. If the worst thing somebody can complain about is authorized shares as it appears to be on this board then that actually becomes bullish by default. Think about it. Furthermore news in the stock market gets discounted into the share price very quickly and the proposed increase in authorized shares is really old news for this stock.
ADX Bullish Cross today for INTV.
At 2 cents a share the stock price has already discounted a heck of a lot of past sins as well as a few future sins. Use your head. Authorized shares mean exactly nothing to the share price. This item never will mean much. Increase in authorized shares is really old minor news already discounted in the share price a long time ago. At the current rate those authorized shares should be fully issued by 2098 or 2099. 2165 at the latest. Keep up the good work.
Required Reading LOL!
Who else thinks bitcoin is waiting on the spx? I am betting that if the spx takes a dive it will take btc with it just like last time.
Guess which Bitcoin miner stock is UP today . No not that one.... guess again....right it's INTV!
Nobody expects this stock to have the fundamentals and other financial assets of Amazon. INTV is a simple play on bitcoin that is all. If btc goes up INTV goes up. If btc goes down INTV goes down. At 2 cents a share there seems to be a huge percentage upside if btc cooperates. Simple and proven that it works. Read the chart for yourself.
There is no proof that increased authorized shares has hurt this stock in any way. It means nothing to the share price. By now it's just OLD NEWS. This stock is acting just like the other miners not any different. Case closed.
All the bitcoin miners are acting about the same. Some are acting worse than INTV. They all seem to be discounting a lower bitcoin. Don't be misled by unimportant issues. What counts is the dollar value of your account every night not unimportant fluff. If bitcoin can rally up to 13k or 14k this stock should have the most upside leverage of any of them. In May of this year INTV went from 1 cent to 8 cents then just last month it went from 2 cents to 4 cents. There is your concrete proof. It did this in spite of useless noise like outstanding shares and ceo's didn't it?. Plan accordingly.
Btc up against the first point of resistance on the 4 hr chart. Btc still looks lower to me. Time will tell.
Comparing the charts of several miners. INTV chart does not look any different from the others. Volume drying up on all of them. A couple appear to be building bear flags. RSI below 50 and declining on all of them. The best looking of a bad bunch of MACD belongs to INTV. It's like I said, outstanding shares and ceo issues
and the minutia like those things are not relevant to me or the market as all the btc miners are performing about the same. What is really important for these stocks is the bitcoin action. Inside baseball conversations will never make you any money.
Now what should be important to you, how much money you can make this year or how many shares might be outstanding 5 or 6 years from now? Gee that's a real tough one but no hurry, think it through carefully, take your time........
So if INTV does only a 4x AGAIN it's just as good as having Tesla all year. Same money gain guys. WOW! Where else can you do that? I'd love to know. Perspective.