Member Info for the_Chuz

The miners share price (in the absence of tangle news) just moves with btc, charting off the miners performance is relatively pointless when you can get more direct data from it's underlying asssest movement.

What I'm getting at is that support and resistance levels for the miners are practically irrelevant, they are just a relection of btc movements (mostly)

"bitcoin textbook catching a falling knife. bouncing twice off dead on 28."

That's true, if 28k doesn't hold I'll be having a few cuts.. Sometimes you just have to do what you think is best, with btc if you wait for the bottom it becomes a spike before you know it and then no one wants to buy the spike so wait for the retrace.. Then you kick yourself anyways when it keeps going up and you wonder why you didn't take a position because in hindsight the patten looks obvious.

All part of the game

"Pretty confident 28k will hold. Its was resistance for approx 3 weeks now support. For me this is the loading zone."

Yea it should take a pretty good battering and still hold, I've been watching the last couple of hours of trades (better than the kids programs) and it looks quite contrived. Looks like a structured walkdown, I'm interested if it stops at 28,200 or goes to 28.

Ive bought in as much as I dare so I'll take the hit and just kick myself for not holding out a bit longer.. The trouble is, as we know, btc can turn instantly so didn't want to be on the wrong side of it.. Fomo is a killer

Looks like some text book consolidation action, I'm ready a lot of panic and nonsense over on stocktwits.

This drop had to happen, it was just a question of when and now it's a question of how far. Will the 28k support line hold or will it fail to 25k.

I personally think the 28k will hold and we will richocet back to 30k in the blink of an eye. If it does fail through to 25k I'll be a bit annoyed as I could of got more for my money but it will all be short lived and back to 30, 35, 37,45 then anywhere.

The most concerning bit to me is that it's following some basic chart patterns, which makes me think it's being a bit over manipulated... Could be a long game rug pull or maybe it's just normal activity by investors moving in and doing text book plays.

Fingers crossed I can stay on the right side of this as I'm in a bit deep.. Tbh I think 30 will be back super quick, I'm glad we packed the sand down a little with the retrace, it was preventing me buying more

Nice bounce at 28.4k.

I've gone and bought way more than I should have ha

Not much left for if it hits 28k and falls through to 25k, just along for the ride now

"GL Chuz.
I should have been a bit more patient."

I lost my bottle and have started buying at 28.7k it just doesn't want to die properly ha, might get a bump up and a shake though so need a bit more or maybe it has retested, found it's support and off we go.

Exciting times,

Nearly time for me to load up, the wait for the drop has been tedious but time to sell the silverwhere.. 25-28k buying all the way down then wait for the middle of the year.

Pack the sand.

Good to see you still around @Hexam,

The fame plan could of been simple, loan to build Helios, share price up, then equity raise to pay off loan. Share price would of gone down a bit then we would of held the asssest, still needed another 100mil to put machines in but that could of been done over time and hosting agreements used.

Just bad management decisions, I really don't like the way Helios went to Galaxy for buttons in relation to overall costs of project Helios.

I hope spur have managed to make use of thier pool

I cannot see a way of Argo competing in any way now (almost no way) , the amount of money they would need to buy machines to compete would be too significant.

They will constantly lose market share as the other miners grow at a faster rate, they will be squeazed out.

That being said.. If it was me.. I would dilute the hell out of shareholders and raise as much as possible taking the share price to around 3p. Current investors would despise it but the alternative is a slow bleed to death.

Unfortunatly Argo blew it by now doing a share issue to finance Helios and get debt free..it was the most sensible option to take but now we held the debt and it all imploded, it was very poor risk management.

Now argo really doesn't have anything too appealing in comparison to the American miners.

I'm still expecting btc to have another leg down, if it can dry up the 29.2 support then down to 28.5 ish then I'm back in, I'll even ride it down to 25 if needs be and take the hit asi would then expect a good vertical movement...

After it's done some jigger pokery we should be ready to move properly.

Retracments are like packing down sand to lay your patio slabs.. Annoying at the time but very benificial to longevity.. It needs packing until firm support is reach then it can bear a heavier load.

"Bitty back over 30k lovely jubbly Rodders"

It just won't die.. I've got 20k I took out at the end of last week in anticipation of seeing 28k over the weekend.. Wrong... Again.. I wish someone would punch it in the gut just for a day so I can feel happy about my purchases

"I'm old fashioned in the sense that I think a business should make a profit"

It depends what stage the business is at,
If you make profit you pay tax.
If you hold onto profit whilst others are splashing the cash investing in mining machines you won't be making another profit.

I must admit the debt and loss that some of the miners carry is scary though.

Tbh I'm suprised argo hasn't dropped more... I'm back into RIOT if btc touches 28k in the next day or so, I see that as quite healthy.

27.5 - 28.5k was a long holding pattern, if it breaks that then 25k but I'll be back in before then.

I think that would be the only way Kr1 become attractive to me, if they get listed on a better exchange. With that potential listing I was also expected significant dilution as part of the cross/up list. I was holding when btc was much lower than it is now and the price was much higher.than it is now so it's really unloved.

I'm glad I got out when I did as it was a pain to offload.

I held. Kr1 for a bit, sold out at 53p, it has such low liquidity that you can't get out in any reasonable time frame, the spread is awful but the concern is getting any way to get out... It irritated me.

If they move to AIM then they would do well, the NAV was/is higher than current market cap, not sure on current liability status though.

Theeduke likes to ramp it which is also reason to avoid it in my opinion. (no offence meant Theeduke, you serve your own purpose and we're all here to make money)

Is this the pull back, I just dropped 20k of riot shares in anticipation of a weekend drop.. Let's see if it's got some legs to stand on.. If so I'll be buying back in on monday

"Bought in at 19p on spike feel a little foolish now someone give me hope"

Suck it up and move on, build a bridge and get over it. We have all bought in high at some point and generally timed things wrong, we've all held onto a loss for too long and we've all sold too quick.

It's just the way it is, some you will lose, some you will win.

Hope is for the weak, either accept your position or change your position.

Regardless of how much you perceive you have lost do you think you will make the best gains over the next 3 months holding your position or selling and buying a different stock.

"im like you AB im hoping for btc 28k and buy back in mara at 8 if im wrong ill be adding at 12."

I had to buy back in to Riot, been waiting for the pullback that hasn't happened, thought we would see 27.5 again but not so sure now so took a view on it and bought back in.. A 20% mistake as I watched from the sidelines.. I should stick to cost. average buying,

If we can break 32 then I see 37 as an easy place and a 3 or 4 bag on mara / riot.

"The BRAKES are off, too"

And the only reason the brakes are off here is because the wheels have fallen off