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I don’t have any TA to hand but I know fib retracement from recent highs is around a 23-24% drop which is where we are now. Hope that it finds support here and rally’s back to $50

Us stimulus could see a lot more money get ploughed into BTC, increase BTC and decrease the $ with more QE

Just put 5k in BTC theough mode, would be nice to see BTC rally from here

Yep at $11k...

I thought mode users on iOS were up around 60k Mark already?

I see your maths flowergarden and I know it’s conservative but I think we could be hitting those revenues towards the end of H1 this year easily.

We know that the average mode account holds £5-7k in and if people are downloading mode they are interested in Bitcoin and likely trading. I think if we work on £1k -£1500 trades at £10-£15 commission and at a very reserved guesstimate 2-3000 a day it’s already around the £600k- £1m a month mark and I would say that is very reserved?

The beauty of Bitcoin as we know is it’s 24/hours a day 7 days a week. I think a few thousand trades a day is very conservative

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Yes stagger, £700m is brought to the uk each year from Chinese tourism alone.

Hi guys,

I’m home now so and just taken a good look at the T.A.

Conclusion, not a clue.

I actually think we are still in a mini bull run and nothing suggests it won’t retest 165, however in my experience that big candle wick is a sign of a possible reversal.
The bulls and the bears are really battling this out between 158 and 165 and I have no idea who will win.

I think if we close above 160 area on Monday we could try push onto 170(which is ludicrous imo) , if we get a close below 158 I think we could see 135 again eventually.

Jayk your TA sounds spot on, nice to hear you take on it.

Cheers

Two*

I’m Actually thinking you could be right sigma, this is holding up very well considering. I close my short again at 158ish, too identical trades. Now I’m thinking this is looking too strong to short.

I’m actually very surprised Barclays is doing so well today, it seems there’s still strong buying, I’m hoping for 155 by close but 159 doesn’t look like it wants to break yet. If it does I think that may change the outlook of the TA.

Hi sigma,
I am also very amateur, in all aspects of investing!
I think your take on the TA seems fine and I have no reason to think you won’t be correct, there does still seem an appetite for buying at this level which is why I close my short first thing (expecting a voice) and I have managed to reopen it at my original price at just under 164 again.
T.A is a great tool for entry’s and exits but in my Experience it rarely predicts where the price is heading.
The only reason I am short is because of my views on Q/E and furlough artificially propping everything up, yet we are only around 10% off pre covid levels in terms of share price!
As Mr Altruistic said the other day I think the US stimulus is now providing the next piece of the underpinning but I fear what comes after this is all done?

TA wise I took 165 as a big resistance and I think we need a completely different environment to go above that and maintain it as a base.
I do keep a very close eye on my shorts though as I know how Barclays can move, just at the minute I see upside as limited and the downside a lot less so.

All the best mate

Tried again, opened at 164 today. Sorry guys.
First target 155, then 147 depending on macros.

Prices on the trades today, all showing as sells but they were either buys or MMs were really paying a lot more than showing on the bid? And they only do that for one reason...

Any links to the interview?

Happy I do agree,

Pmo will be churning out some serious cash for sure, it’s the flood of shares on relist everyone keeps talking about I’m Unsure of, current share price is getting right up there now with no wriggle room for a discount if a sell off was to happen?

I noticed that the other day but it only took a few hours for me... I don’t see it as a major isssue though, there are many savings accounts a lot less accessible than that.

I see value here as I have always said, but it’s looking a little top heavy to me if there’s a possible flood of shares to hit the market and we are working on a £6B Mcap?

Happy has changed his tune now he’s in?

Barclaycard have partnered with Alipay because they see the future demand for it here, obviously Alipay isn’t specific to mode but mode’s simplicity while dealing in Bitcoin and soon other cryptos while paying a solid interest rate makes it a much more appealing way to manage your money. The simplicity is what makes mode for me, an absolute doddle to set up, your not bombarded with terms only us in the markets will understand, and then you drop your Bitcoin investment in the jar and it starts accumulating an attractive interest. All while managing your money.