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The question is whether you think BTC or ARB will bounce harder/higher. Hard to say, although on past performance ARB has tended to leverage greater gain on the up curve

Hi, I’ve no better idea than anyone else at this point. As I mentioned, I had pencilled Wednesday morning as the wedge point to $30k but I don’t think anyone’s really in a position to predict the direction of break out. I think this might rumble on to the weekend before that becomes much clearer. No dramatic movement at the moment (I don’t regard $29.8k as a break out). I wouldn’t be surprised if it drifted down towards $25k or stayed around $30k this week. Sorry, not much help really :-)

I’m still in the camp of short term bearish and long term bullish, which I think is also where the general market and institutional consensus is also leaning. ARB has some parallel challenges but the scenario fits their business stratagy so I see no reason for them to shift direction on that this year. Some more clearly communicated operational information would be welcome and I hope the next RNS is better written than the last (and more clearly differentiate from the competition). They also need to tighten up on business focus in the leadership team (finance director, compliance etc) as they make the transition to an institutionally invested company. I still see more growth potential in ARB than in BTC or most other miners over the next 1-3 years, which would be my timescale.

With respect, @investor, this is a very profitable company with large growth plans at a historically cheap price. Unless you’ve any figures to the contrary?

If you have funds available and you’re committed to staying in and averaging down then you’re not going to mess up by buying at any point at the moment, it’s half your price now. Many choose to top up in smaller tranches on the way down and up to derisk price movement. Picking a point in something as volatile as crypto is hard, no one really knows where the bottom or top really is. Fundamentally, is it a good company, is it a good price?

Pedantically, he was correct. It requires exactly a 100% rise to correct a 50% fall, and not more.

“ Keep a tight stop loss, although allow room for some movement”

Unfortunately in volatile crypto stocks those two things tend to be incompatible

“ Overall, the options market is still biased bullish for the long term. The six-month put-call skew, which measures the cost of puts relative to calls, remains entrenched below zero. In plain English, longer duration calls or bullish bets are priced higher than puts. However, the one-week, one-month and three-month put-call skews are indicating a negative bias with bearish prints.“

https://finance.yahoo.com/news/bitcoin-drops-investors-buy-22k-134120409.html

Hilarious, even at the end of all Bitcoin production, in 100 years from now, there will not be enough coins for every high wealth individual in the world to own even one. Think about it.

I suspect the sticky hands will keep catching the knife somewhere between $30-35k (Tesla price) and the miners will keep hodling until demand outweighs supply.

My hunch is that it may bounce off $30k but obviously I may be wrong (and agree the lower range limit would be around $25, or 2xSE from the S2F model curve).

52 week range - 3.40 / 339.81
YTD return -189.55%
1 year return - 2,463.42%

(and that’s just at today’s closing price!)

No-one knows where it will go, it's certainly likely it will continue to narrow the wedge range towards $30k during this week (extended buying opportunity), the interesting question is what happens then...

@Nate-PI - "To be fair to misterbeck, I'm not even invested here, never have been actually, but it's caught my eye today looking at it from a technical setup and thinking it could make a nice swing trade from here back to the 135-140 mark"

You posted this when the SP was 102?

...good news really if it simmers for a bit, I'm happy with anything under $35k so still cautiously topping up on BTC/ETH every couple of days to maintain an average increasingly below that.

I suspect it might just rumble on until Friday or even the weekend unless there's a significant event between now and then.

pretty much as expected, wedging down onto $30k and no-one honestly knows which way it will break from there with all those orders waiting at that support point but low volume summer trading season. I was guessing Wednesday morning might be a break point, could come sooner or later. Signs are that there's been considerable accumulation throughout this consolidation phase and most are probably sticky fingers. The sentiment on the latter part of this year is still mixed but starting to be more bullish the past few days. All too close to call in the short term I suspect.

Hence the shorting action :-)

Yep, Friday's rise was likely result of shorts closing. The gear change in the rumour mill is a symptom of that not the primary cause.

We have until October/November for the campaign to prove discovery and commercial potential. A lot of decisions will flow from the experience of drilling at Tai and the data obtained, which might include re-prioritisation of targets. Also there is now even more riding on 'must drill' Tai, following the unexpected helium shows, so diligence and patience here is vital and absolutely what I'd expect. Share traders are the only ones ever worried about news speed, the rest of us are sitting very comfortably.

@drlong - “ Il be honest when it dropped below 80 the other day ,there was a bit of temptation to buy.
But i always put money preservation ahead of making a quick buck”

Out of curiosity, then why on earth would you spend your days posting rather than on the Lloyds or Barclays pages, which seem a closer fit with your investment strategy?