Member Info for bonker99

I'm not in at all - when I see things in a technically oversold state I merely point them out then watch for a short while to see which way the wind blows.

Maybe it's bottomed already, maybe it hasn't but with all other aspects being equal I don't see how Bitcoin can drop further from upper teens and stay down there from here/now - be it that ideally I'd like to see it pront $16k/11k first but for all I know it's back at 30k this time next week.

Obviously I'm interested but I'm not married to it.

Maybe but I'm not too concerned with tomorrow's open as when things are this oversold on the weekly as Bitcoin is then simply sitting on your hands is all you need to do with a bit of patience but a day is a long time in Bitcoin world so it'll be an interesting week onw or the other.

See where Bitcoin ends up tonight/tomorrow morning - I'd be very surprised to not see a substantial bounce soon and probably a green week next week.

@barnetpeter - $16k is a target I've had in mind for a while, it could do it this weekend and it's an attractive entry point, perhaps as a recovery point after a brief visit to $11k ideally.

As for annihilation, it's my money ;)

I'm thinking exactly the same as you are but not reverse-talking my book.

Will be interesting to see where it is by Monday as it's horrendously oversold now - it can always go lower of course and I did see talk of an $11k gap filling move which would be perfect for a move back to the horizontal target of $28k and upper $40ks after that.

Soon find out but I'll certainly be looking to pick some up as this is too far, too fast to not bounce substantially at some point.

FREEPORT DECLARES FORCE MAJEURE ON LNG SHIPMENTS UNTIL SEPT.

They'd have to be exceptionally high quality dore bars to get the price they're getting?

No doubt.

She's blue - for now ;)

:D

Demand destruction sure but Discretionary Spend is already toast - people are pretty much spending what they have to, regardless of price, so you'll need a genuine economic downturn for that which could prove even better for BBBRRR/Gold of course.

Anyway, it's all good, it'll be what it'll be :)

Afternoon.

Not quite a new low but getting there :)

I'm expecting Gold to pull back to at least $1,810 and then we'll see what's up.

I don't expect last night's 75bps raise to dent inflation at all and the S&P is falling to pieces ahead of this afternoon's US open with recession vibes abounding as you'd expect - batten down the hatches and all that but I expect Gold to come good in H2 as I've referred to for a long time now.

Very interesting sell-off in USDJPY since that 75bps raise - not what you would normally expect to see but Gold's drive to $2k back in 2011 was matched by USDJPY plummeting for some years - oil is also coming off, that'll help AISC for miners.

We'll soon see if I'm right :)

S&P getting creamed which isn't helping :)

What a move - fingers crossed :)

$26k is the precise setup of the last couple of days BTW if it stays above $21.7k from here.

Morning.

Foolish of anyone to try and predict what Bitcoin will do but if it gets back to $26k by the end of the week then that could be extremely bullish to my eye.

:)

I do love how all the chat on here stops promptly at 16:30 - anyone would think it was chock full of pros ;)

Stick or twist time then folks.