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BTCUSD 05-02-24
Yesterday's close showed a decrease in volume and a lack of demand. We may get a short covering rally from here but the higher probability is that price needs to continue lower to stimulate demand. Still no entry trigger for me. I'm very interested to see how Bitcoin trades over the weekend.
BTCUSD 05-01-24
Yesterday's close was on increased volume but didn't show any demand. The ease of movement remains to the downside. As someone new to the crypto space, I do like the volatility. While waiting for demand to show and prove itself, I've started to think more about Bitcoin just as a store of value. I haven't come across any real world use cases for it. Someone asked if you can use gold to buy gas/groceries. That's a good way to look at it...a digital store of value. I tried to look up a simple way to buy bitcoin but got lost in setting up accounts on exchanges and buying cold wallets for storage. There is no way mass adoption of crypto will occur while it's that difficult a process! I know I know, I'm older and less tech savvy than most but in the real world I just don't see a practical use for bitcoin. Both my kids are in college. Let's say I go through the whole process correctly and send them a few bitcoins each, what are they going to do with it? Convert to cash and go from there. There is a lot of talk/research that bitcoin will replace global currencies. I'm not so sure. The entire banking/financial system would have to collapse first and even then, wouldn't the value of bitcoin plummet along with it? I do admire the "hold on for dear lifers" (I love that term) but without any practical uses for bitcoin, it's just another asset to trade.
Someone else mentioned that Bitcoin will go to zero. Theoretically yes it could, but it probably won't. It'll just come down to where it's value stimulates demand. The next support level I see is 52000. It doesn't have to fall to that level though. Let's see how the week finishes out.
BTCUSD 04-30-24
Interesting day today. Volume is still relatively low. There isn't much demand. Price will have to move lower for demand to come in. With the selling in the background, maybe price falls towards 52000 to stimulate demand. While waiting for an entry position, I've been looking into bitcoin. Mainstream adoption seems very far away. There aren't any real life (at least in my simple opinion) use cases for crypto. Can I buy groceries with it? Can I fill gas with it? I'm trying to learn the jargon for crypto but it's complicated. Right now, I'm looking at exposure to crypto via GBTC when demand presents itself.
Let's see how the rest of the week pans out.
BTCUSD 04-29-24
Volume remains low for bitcoin and so I don't see demand coming in yet. Unless it does this is headed to 60,000 at least. I'm very interested to see what catalysts this year will drive demand. Halving happened but I haven't had time to actually understand what that means. It doesn't seem to have had a positive impact on price yet.
BTCUSD
I've been looking for an entry point to gain exposure to bitcoin. I keep technical analysis very simple, using only supply and demand with Volume to guide my entries.
The daily timeframe chart shows BTCUSD to be in a range. There is some recent selling pressure as of Apr 12th and 13th this year with the overall volume quite low. So, I would need to see clear demand before entering long. Without this demand, price should go below $60,000. I'm really looking forward to seeing what happens as crypto is an exciting space to be in.
Absolute joke of a company. They scammed so many people into investing in them. This is the first meme stock I've ever followed and I'm shocked at how much money investors have lost.
Supply remains fully in control and this is headed to zero.
Toast
Terrible price action. Supply is still in full control.
This is another round of bad news. Supply remains to be in control. Every opportunity for price to go up is met with heavy selling. This is headed to zero. Don’t be a bag holder at these low levels.
Supply in full control. Has been for over a year. This is headed to zero.
I have no position in BBIG but would like to buy if there are any signs of demand. Unfortunately there are no catalysts for demand as shown by price action and volume. I don't understand why you would keep buying if the price continues to fall. Supply is in full control here and there is more probability of this heading to zero than turning around. Much of the fundamental research is on how this company needs tiktok to get banned and while I suppose it has been in parts of the US, globally there is no slowing down of TikTok being used. Even if that was to change I'd wait for a signs of demand before taking a position. I'm assuming you're buying and hoping it goes up?
Supply is in full control here. Zero catalysts for demand so this is probably headed to zero. Don’t be a bag holder at these levels.
Supply is still in full control here. TikTok would have to get banned completely in the US and then volume and price would have to indicate demand is present before considering going long. It doesn't seem likely at all that TikTok is going to get banned. Either way, this continues to head lower week by week.
How are shorts nervous if volume is low and price keeps going down? In fact SUPPLY is in full control
Cut your losses man
I wanted to take a look to see if BBIG was trading again after the halt. There were a lot of new messages! The recent volume that came in the past few days all suggest that it was supply volume. There was big selling on each of the high volume days and price action continues to be very bearish. Do not be a bag holder at these levels. Wait to see demand volume and price action.
Ha! I definitely think that should a catalyst actually come in then price has the potential to rocket on upwards but there is no way I'd be a buyer until we see volume and price reveal demand.
All I see is a confirmed downtrend with no evidence of demand yet.
Could you explain why this is a buy signal for BBIG?
BBIG
So I've been looking at BBIG for some time now (at least since October of last year). My interest was first peaked by all the pumping on youtube and then as I started to look at the technical aspects of owning shares I really couldn't see why everyone was so excited. If you look at the volume on the daily chart, there really isn't any demand for the shares being shown. Now that TYDE has spun off and shares have been distributed what would the catalyst be for BBIG share price to increase? I understand there may be some fundamental aspects/acquisitions that the company is involved in but I don't see any evidence that is increasing demand.
Game over
Wow. What a move.
This is looking very bullish
Thank you Sir.
How is ETCG related to $ETH? If $ETH goes up shouldn't ETCG go up?
Hopefully the bullish momentum continues. I have an initial price target of $30.
Took my first entry into JETS today. This sector looks primed for a move to the upside. Hopefully we have a busy travel season in the US and globally this year! Good luck to all the JETS bulls.
Where are all the pumpers? All that talk of a buyout? Total BS.
JCPNQ going to zero. No demand at these levels. No support level is holding.
No demand at these levels. Get out while you can.
Still no demand at these levels. Week after week of nonsense BK posts and the chart tells it all. Wait for the $0.11 level to hold before investing even to flip. Personally I think this is headed to zero.
Averaging down is a losing strategy in a downtrend. Wait for the $0.11 level to see if demand comes in before even thinking of investing here. In my opinion this is headed to zero.
Next support level is $0.11. Wait to see that level holding before trying to invest here.
You want investors to establish a position at these current levels? Good luck with that.
Some of the posts here regarding the BK were disgraceful. Pumping news about Amazon and Walmart buyouts. I feel sorry for investors of JCP.