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Looking at the daily charts it looks like BTC, BITF, HUT, WULF, RIOT, MARA & MSTR are now all oversold, so now is possibly a good buying opportunity (at least for short term)

Oh, and ARB is oversold too! 🙂

I was expecting a bounce on TSLA and today has confirmed it for me (Check the RSI on the Daily chart) so am starting to increase my position.

WULF looks to have bounced off the 61.8 fib and fingers crossed will now bounce back up. I like their management are major shareholders, it's one of the least concerning for dilution and looks to be nice %'s to trade the RSIs :-)

"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful." — Warren Buffett

(I've bought some more WULF and looking at more TSLA at some point today..)

"The last buy was cleanspark... Im now, mara, riot, cleanspark and tesla.."

They may drop a touch further today/monday but give it a week or two and I think all of those will be well back in the green from here! (I own all of them but 3 of those are on my watchlist and will buy more either towards close (if they drop more) or Monday...)

Eth dropped along with BTC at 22:40 then by 00:15 had fully recovered it’s drop, whereas BTC is still recovering! - that to me makes the whale selling BTC to buy ETH the most credible explanation.

After reading many of the speculations, this sounds the most probable for last nights sell off:

“ Describing much of the explanations for the decline as “pure speculation,” Horse suggested that since the reports of the SEC hinting its approval of an Ethereum Futures ETF came moments after the dump — a large fund may have offloaded their Bitcoin position to “trigger a cascade to buy ETH.”

https://cointelegraph.com/news/why-did-bitcoin-price-suddenly-drop-analysts-explain

The only future I see for ARB is M&A activity or going into administration. I'm currently sitting is total cash in my new ISA, ARB isn't even on my watchlist for a trade as I don't want to be holding the bags.

On 9th Aug I said on here for the market to dump and recover in 10 days... 1st part tick :-) (I've managed to save ±15% of my portfolio by selling up) and I'm now closely watching several stocks to time my entries back in. I don't think the 10 days was too far out and expect a bounce in the markets next week. Why? If you check my profile on here, you'll see I joined in 2008 so been around a while, August is renown for the 'big boys' to go on holiday, usually a dip in the market and low volumes. When the 'senior traders' get back to work, is when the markets typically change which I think will start next week.

The 2Q conference call is worth listening to, especially if you're a holder or thinking of buying.

https://viavid.webcasts.com/viewer/event.jsp?ei=1628346&tp_key=03bea554d7

Do those who trade use any particular technical indicators to time entry / exits? What’s your favourite / goto indicator for the miners?

I've sold up in the ISA I'm moving, did it in several tranches over 3-4 days and hit the highs for some stocks, now just need the market to tank following tomorrows CPI results, before rocketing back up in 10 days or so after I buy back in! :-)

My MARA, HUT & RIOT holdings will each be reduced by around 50% when I sell. What would be great is they all spike up next week, I sell before a big drop so I can buy back lower! :)

I agree about MARA, it’s the “safest” option if there is such a thing with miners!? and will likely end up being a larger % when I buy back. I have HIVE, HUT & BITF in another account, likely keep until back in profit and then sell but wouldn’t by more of them currently. WULF & CLSK are on my watchlist, I made some dummy “what if” trades in a spreadsheet on 17th July, WULF & CLSK are down ~30% from my dummy buy, MARA, RIOT and TSLA (as a measure) are each down ~10% whilst BTC is only down -3.5% (glad I didn’t buy then!!)

Are there any known major events that could affect BTC or the miners over the next few weeks?

I've deceided to move one of my ISA account to another broker, which means I will need to sell 50% of my crypto stocks in American / Canadian miners over the next week or so .

I'm taking this opportunity to re-evaluate where I buy back once transfered, with a 12 month outlook, where would you invest if starting again today with US miners?

MARA / RIOT / HUT / HIVE / BITF / CLSK / WULF were my previous candidates of various %'s

@Mpeterson said : "Obviously anyone can simply sell the same amount they took up at the offer immediately from their current holding. A simple profit. 13p equivalent in the U.S. currently. NOICE."

If the price of ARB < 10p on Monday 24th, the likelyhood is the raise will be void & investors won't get the shares so this logic is VERY risky!

From the RNS

“ It is expected that Admission will become effective on or before 8.00 a.m. on 24 July 2023. The Placing and the Retail Offer are conditional upon, amongst other things, Admission becoming effective and upon the placing agreement between Tennyson and the Company not being terminated in accordance with its terms.”

So, if the price is below 10p by Monday 24th, will this break the “placing agreement” and cancel the raise like the last attempt where the II’s pulled out?

@MPeterson - mixed messages there, every paragraph seems to contradict the previous - confused which way your thinking about it? :)

The last time they used Primary Bid was 8th March 2021, after the offer was closed a RNS was released detailing the take up

https://www.investegate.co.uk/announcement/rns/argo-blockchain--arb/closing-of-fundraising/6587763

Will they release a similar RNS tonight? If not, I suspect the take up wasn’t what they wanted…

Not kept up to date on their balance sheet or costs, are they running out of funds again and this £4.7m raise is to keep the lights on for a few more months? If so, I think the price may drop more than 25% over the next few days?

It will be interesting to see what happens with the Primary bid… it’s the same few hours option as PW did previously… this time, happy to be proved wrong but I very much doubt it will be over subscribed….. (more struggle to get buyers IMHO)

Is there any UK platforms that allow you to short ARBK ? - Currently down 15% and if ARB follows it’s tradition, will be down 25% on open tomorrow, so potential for 10% arbitrage (if that’s the right term in this situation)

PW’s last message as CEO…

https://youtu.be/0WbCPHbn_PI

https://www.prnewswire.com/news-releases/b-riley-financial-issues-open-letter-to-core-scientific-investors-301703337.html