Member Info for bonker99

Just looking at the Binance order book again - nothing significant on the offer until $38k as before and still a wall of money, c$70m, between $32k & $34k.

TA is never meaningless, the price pressure points are the price pressure points, period - whether a given price pressure point holds or not isn't up to TA though - it just makes you the One Eyed Man is all :)

Morning.

Villa :)

All you can do is see where she ends up - they're having another crack at a drop at the mo around $35k.

I have a hard target number around $25k if they can get her there but I must admit I was looking over the chart(s) last night and I was struggling to see how they get her that low really quickly from here (too oversold), as opposed to a bounce first followed by another drop but where there's a will there's a way :)

Re conspiracy theories - if people don't conspire over money then they've never conspired at all, there's a reason the SEC & Wall Street is a revolving door ...

@delacey - only if you think that supply/demand dictates pricing :)

I refer you to my post the other day re it depends on who is buying on how the price moves:

PIs buy - price drops

PIs sell - price goes up

IIs/whales want in - price plummets

IIs/whales buying but not finished buying - price stabilises until they think they've bored/scared enough PIs to drop their shares/coins into their lap

IIs/whales finished buying - price goes up

IIs/whales want out - price goes flying up

Proof of this MO was seen last night on the latest FUD drop - absolutely nothing on the offer below, wait for it, $38k and c$100m sponging between $32k-$35k once they'd pulled the price down to liquidate all the leveraged PIs and cause a snowball effect of selling from PIs into their hands.

It's the same MO everywhere in any asset on any exchange :)

Re ISA/SIPP/CGT - good point and that's what attracted me to this too - the tax-free wins although I obviously dabble on Binance too :)

Re ARB or BTC - it's like any other mining play.

Yes you can buy the asset direct, or trade the price itself on places like Binance or you can buy companies like ARB that mine the asset and make profit on the price of the asset minus their costs to mine that asset.

If the price of the mined asset is greater than the costs then you get leveraged upside on the different between those two numbers as cash in the bank, just like a gold miner.

ARB were claiming 80%+ margin before BTC toppled so presumably, at the current c$38k price, that profit margin will have halved, hence the fall in the share price but they're still multiplying their costs which is a lot more than almost all business out there manage to do and the share price has fallen to around a third of its high, hence the interest around above a quid.

I'd guess their breakeven is around $10-15k per coin right now but others will know better than me I would think.

Interesting point made in the Pomp video link below about the huge amount of cash that's been moved onto the major exchanges now and obviously looking to get in - some of that will be the whales that sold at the top but also new money/new players of course - just like moi.

Also interesting to hear that on Black Wednesday where we saw the $30k print (on Binance), other exchanges were differing by a couple of $k or so and likewise on the bounces with the US-oriented exchanges showing significantly higher prices, clearly implying that it was US money sponging up the selling before other exchanges could react.

So now you know where the buyers are - like I ever doubted it - the same place where all the FUD comes from via our media ...

I'm tracking half a dozen crypto at the moment and they're all red today.

Except for BTC.

****coins have had their day, the money is coming back to crypto's gold.

Great point and aligned with the point I made this morning re supply.

It's a manufactured, premeditated "sell off" once those guys have offloaded during the laser eyes nonsense so, yes, of course they're going to say it's going lower when they're buying again :)

We all saw the c$100m blast it back up from $33.5k last night, I'm buying if they're buying.

Well that's the problem with the scam/ponzi shouts on BTC isn't it?

Whether it is or not, it can't be any worse than staying in cash burning due to hyperinflation in the real world via the biggest ponzi scheme ever devised by man - fractional reserve banking.

The central banks bbbrrrr printing of "money" serves only the already wealthy and leaves everyone else behind - crypto gives regular people a chance of staying in the game as their govts and bankers rape them for taxes whilst destroying the buying power of what little cash they do have.

You're going to have to do an awful lot better than "someone says" to kill this, do please try harder.

Timing is everything and none of the events you describe happened by chance - needing to push through enough revenue, from cars or anywhere else, to get your whopping bonus was "motivational" shall we say.

Anyway, that was then and re the $100k shout, I note that BTC is flopping around the $38.1k price i mentioned in the week as being the perfect launchpad to that number, down to the decimal point ...

Close the week there tomorrow and next week will capture my attention.

Figures, "crypto is non-green evil" (cos I've sold) to "crypto is great, let's fix it together " (cos I've rebought).

Onwards and upwards.

I hear you and I've been waiting a looong time to get into crypto, there'll be an awful lot of new money like me sniffing around now.

My PF?

Pretty much an even split between gold, silver, oil and crypto - in other words, it's all about inflation proofing for the next couple of years at least.

Afternoon.

BTC up at $38.4k as I type and that's position A for a weekly close and a significant amount of green from another oversold position on the daily.

They couldn't have set this up for a move to $54k better if they'd tried imo and of course they are trying very hard :)

Have to laugh at any talk of the demise of crypto, this is the real mainstream wave coming up IMO with BTC as the "gold standard" amongst the plethora of ****coins which I imagine will disappear volume wise after this epic dump.

Looking forward to Monday :)

Morning.

BTC hit $38k overnight and is now triangulating around $36k again.

Anytime someone can explain why China restrictions on mining could possibly have a bearish effect on BTC would be good thanks - my "common sense" tells me that if a plague of locusts threaten to destroy 30-40% of the world's corn crops then it's probably not a good time for me to sell all my corn but WTFDIK.

Boom ...

Goldman Sachs:

https://twitter.com/zerohedge/status/1395871510250889216?s=20

Ya gorra lol

Big gap-up on the one-minute to $37k :)

Looking like it's going back to $40k over the weekend, hell, maybe even in the next hour ;)

See, this is where I differ from most PIs - BTC was a joke buy to me at $60k, not because of any outright valuation but just because of the size of the pump with no cooling-off downturn which, very, very predictably arrived soon after that top in Sell-In-May.

That to me is "rocky" @ $60k but when something has halved in no time at all and on nonsense "problems" like Green Energy and doubtless completely made-up China stuff (who cares??!!) etc then I'm a buyer all day long.

BTC has probably bottomed IMO but may go a few $k lower, we'll find out soon enough but just thank your lucky stars you didn't get mugged off by the laser eyes crowd over the last couple of months - you shouldn't be rocky around here, you should be weighing in, however you want to do that and at whatever price or timescale suits you.

As for the frequent posting, well for my own part, I've been waiting to get into this sector for a looong time but I'm a bottom-of-2nd-wave-buyer looking for the big 3rd-wave back up, nearly all of my trades are that MO and this is obviously a very exciting time for bottom-pickers like moi and I like the bantz ;)

Here you go.

$89m of bbbbbrrrrrr to the rescue - I wasn't far off with that $80m estimate earlier :)

https://twitter.com/whale_alert/status/1395842873451483137?s=20