Member Info for HarChris

I pencilled in support at $34k/$35k a few days ago, that needs to hold and my guess is that it will.

Dip*** that was meant to say.

Buying opportunity coming up soon - feel a bit sorry for those encouraged to keep buying the deep when an almighty correction was always on the cards. Alansugar how's that day trade looking?!

BBN, not only an extremely bright and well-researched human but also a proper gent. (Apologies if you aren't a man or don't identify that way!)

Interesting...

They aren't buying the dips because they are reading things like the wykoff theory and waiting for ~$37k. I do think a good percentage of diehard HODLers might have been shaken for good though this time. Personally I think it was made to appear all so easy, put all your disposable income in bitcoin and retire in a few years time...

Hey Kaeren. Yes very simply with low volume World Quant can prevent any downtrend from being reversed, simply with a 0.02% short daily if timed correctly. We see enough volume occasionally to push the share price up (three weeks ago 360p to 580p) but the traders leave, the volume dries up and back down it goes.

We need the sort of news that attracts IIs who are happy to keep adding in the mid to high 500s - and I think we will get that news before June is out...

Without doubt new support now around 415p, up from the high 300s. Sure we expect a lot more but it's a small win!

I'm focusing on this 'year of hardship' - a 10% rise in V from here will see profits in 2021 increase around 75%! 10% is nothing compared to what V might rally to...

Who trades a sharply downtrending stock? Rather risky my man.

Shan't be trading myself, will buy to hold if I get a better price but I wouldn't trade a stock in freefall...

Let's say production costs currently $30.5/k and V at $35.5/k. Let's say production is 4100mtV.
At $35.5/k profit = $5 x 4100 = $20.5m
1% rise in V to $35.855 gives profit = $5.355 x 4100 = $21.96 = an increase of 7.1% profit.

Only a rough calculation but rather significant don't you think?

Impressive if so!

Are you saying ARB break even at $7.5k BTC? Are you sure that's right? I thought it was something like $15k per BTC and $20k to produce actual profit?

On Thursday you wouldn't buy at 25p as you thought it would retrace to 20p, then you bought on Friday at 26p, now it's the greatest share of all time and is going to make us all rich any day!

Almost every bitcoin figurehead I follow predicted April being *the* month. As it happens I think the Argo share price has held up extremely well:
On the 19th April the share price hit a low of 125p - bitcoin was at $56k.
Today the share price is at 129p - bitcoin is at $43k.

Bitcoin price direction is everything to this share, not actually what bitcoin is on any given down. The uptrend from December to February saw the most exceptional gains here but the downtrend has the ability of doing the opposite...

Bitcoin was going up and up and up with predictions of breaking $100k in April (equals ridiculous profits for Argo). Now bitcoin is going down and down. Shouldn't be too hard to understand!

I wish they'd play the game a bit, it is AIM after all. I don't know, like holding back a bit of news for example and then releasing back to back rns's to take advantage of the recovering share price.

I had a feeling there was going to be another one this morn but it didn't come :(

The problem is there really aren't others following suit. All you would need is ten or so of the biggest US companies and a few more billionaires to commit to a long term buy and HODL strategy and that was the hope a few months ago but so far it's not looking likely and the main ones (Musk & Tesla) have already made a pigs ear of it.

Absolutely Bluelight however there are certain parts of technical analysis which, although bull**** imo, create a self-fulfilling prophesy and therefore certain moves become a reality.