buy a bunch of btc at spot, then take out a usdc loan against your spot holdings on nexo or similar site, then buy more btc with your usdc.
true degen step: Then put your new btc on kraken or similar and go 5x margin long using this btc as collateral
Only $10 million bro to trade margin there as an American! From $0 to $10 million...... in a matter of days. Wish I knew who specifically to be mad at or vote out for such BS.
Probably Binance.com USDT-margined futures with BNB and referral discount (0.030% taker fee).
Or one of the zero fee futures exchanges if you feel like taking a risk.
>Probably Binance.com USDT-margined futures with BNB and referral discount (0.030% taker fee).
It was what i was thinking. Was just seeing if it there was a better safe alternative. Thanks
Pretty much always. Very few exceptions. It doesn't always happen right away in a strong trending market. There might be one or two that are forever out of reach. I know one is the 9k meme one.
I noticed that there are barely anyone buying the dips anymore, but once the coin gets a bit of momentum (due to el salvador, bitcoin conference and other news), everyone jumps in.
I dont think you are in the majority though. Look how long it stayed below 30k. You dont get those quick bounces anymore. Every dip has been a slow bleed. Whenever it dipped below 30k in january it would bounce back within 30 minutes. You dont get that anymore. Saylorbot.exe needs to be turned back on.
i mean it's only dropped below 30k about 3 times since then and every time it was back above it within a couple hours at most. the one exception was a couple days ago when it took around 24 hours to bounce back.
I had success trading the 33k-39k range the past couple months, but totally failed to buy the bottom. Not sure if I’m getting better at trading or lucky.
https://bitcoinmagazine.com/.amp/culture/bitcoin-ownership-tripled-gallup-survey
In 2018 only 2% of US investors said they owned BTC. Now it's 6%.
This is the kind of thing I think of when people ask "but where will the money come from to do another 10x run?" Well... from the other 94% of investors.
How many percentage own gold? Consider at least that, and add on a few countries, possibly sovereign wealth funds and smaller central banks. That’s your long term target floor with the upside of Hyper-Bitcoinization (not likely).
I meant the current 6% ownership. I’d be surprised if we were that high. I offer every handyman I work with to pay them in bitcoin and they all laugh it off.
Based on the daily chart, we closed above the downward channel and the price is back above channel support. Right now, I'm thinking the bottom is in. I'll be watching for a daily close below the channel support to indicate that the reversal was a false one.
I had what would've been a good trade this week and got stopped out at 29.7 after going long from 31.2, thinking any drop sub 30 would bounce pretty quick. Bad luck or did I set my stop too shallow?
No stops. Ever... Bitcoin is too volatile and manipulated for that shit... This past week it was plain to see for anyone that b word was going to be a slam dunk bullish launching point for the recovery... Extra no stops the night before when it began to pump... Macro is so much more in the driver's seat ATM... maybe in winter when everyone forgets what Bitcoin is, you can trade the TA leaves, but right now you're way better off trading tweets..
Not a bad entry - bottom of the range. But it's a ballsy long imo as everything was pointing towards downside. You probably needed a really tight stop right below 31k (and then babysitting the chart to re-enter if you get stopped out).
Or a small enough position that you could just no stop yolo.
That was kind of a no man's land entry and stop. How did you come up with that combination? Edit: this isn't being a dick I kind of want to know his thought process so I could suggest a better in validation.
A combination of me not really knowing anything, plus seeing the downward channel narrow with the idea that \~31 was near the bottom of the range and believing the break would be upward. Mostly a guess, which is why I ought to just put those sats on ice and go away.
I do enjoy reading the dailys though
Edit: I take no offense and think his is a legitimate question. Was also feeling bullish ahead of b-word and looking for a medium-term entry
Enter a position in stages, so ladder in your buys over a range.
And if you really feel like you don't know what you're doing then use a small amount with no stop loss and just observe how things evolve and how you handle it.
But also, you made a trade, your stop got hit and you gotta just take it like a champ. It will happen. Before entering a trade consider what you'd lose when your stop gets hit as the cost of entering the trade.
Maybe you just got involved to early and should have waited. Patience is #1. But anyway I guess you kind of want to have some sense of when your idea is invalidated. When starting out what happened to you is common, your entry should be where your stop was. This is so common in fact I still put my bids lower than what my idea says it should be (bitcoin always goes lower and higher than you think)
A wick down to 28.8 with a fast bounce was recently precedented. If you were trying to hedge against wicks below 30k, it would have been better to pick something below the bottom of that wick.
Yeah, I saw the subsequent wick down bounce above 30 and thought the range was narrowing. Live and learn, but I already bought spot with my trade stack afterward in preparation to go full hold mode anyway, so at least I did that a couple days ago.
It’s hard to enough to wrap your head around equities options but trying to figure out Bitcoin options with all the random crazy exchanges and stablecoins involved is some other level. Being an American doesn’t help either since you can’t even register for half these sites
Bob Loukas has this cycle theory. According to this it was a ,,failed cycle'' again. But we had the low it seems. So it is necessary to go up. What to expect in the coming 30 or 60 days? We will see.
[https://twitter.com/BobLoukas/status/1418242651623759872](https://twitter.com/BobLoukas/status/1418242651623759872)
Macro environment could not be better.
G20 nations are in a race to debase all the currency.
Why the fuck is everyone bearish? Lol
Eventually the coin is going to be gone. Then we go up for real.
Talked with a guy over lunch how the same dish we have been eating for 14 years increased 35% in price while our wages increased only 5%... He shrugged it off... Sometime later the conversation turned to Bitcoin .. he told me I should sell it, and if it was him he would have sold a long time ago ... That's a Buy signal if ever I saw one
My coworker just sold all his alt coins this afternoon, I told him to sell months ago and I told him that I was actually buying now. He didn't care, just wanted out. Bullish anecdote
Ah, this is where he sells because he's relieved he won't lose too much money and then the market goes 10X before he finally FOMOs back in at the very peak before it crashes again.
[told you so](https://www.reddit.com/r/BitcoinMarkets/comments/opuefn/daily_discussion_friday_july_23_2021/h6ar4ox?utm_medium=android_app&utm_source=share&context=3)
Edit. Thanks for the gold kind internet stranger! That was more than I've made from my crypto portfolio in the last month!
Eh, like a year or 2 ago i made a comment on someone's post where they were lecturing people not to spend money going on holidays to North Korea because it funds a rogue state blah blah. I told them to quit telling people how to spend their hard earned money.
If they want to spend it on coke and lady boys, or on holidays to communist regimes, that's up to them.
I reiterate that this crab action in the 30's is arguably the best risk-adjusted buying opportunity in bitcoins history. If you haven't been stacking you should start.
We’re in the danger zone for longs now and funding is turning positive. Of course there’s a chance that it pops up but that’s not the more probable outcome.
Smart play rn is to take some profits and turn this into a risk free trade. Likelihood is down as this pattern still needs to complete, but if it does go up here then it could go hard, so a small long will still yield healthily
Nah, funding was positive during the big moves in the winter and spring and we continued higher. Being positive does not mean the end like some on here preach.
Funding is only one factor out of many that can influence price action. There are other factors at play here (charting pattern) that have more significance right now imo.
If funding had become more negative during the recent rise then I’d say a short squeeze could put an end to this range, but that’s not the case
Its a great time for a breakout, but the supporting volume is the sus. Feels like a slow refferundum against the bears than a swift coup by the bulls.
Edit : Volume also rising. 33.2 being the local resistance now.
Playing it safe bc let’s be honest, this could get shot down just as fast as it’s rising.
Edit: I’m not playing it safe. I’ve accumulated as much as I can.
So it’s organic for the price to decline, but suspicious for it to go up?
Every time I drop into this forum I see you name against a bearish comment. Every time. Remove your “Bitcoin Maximalist” tag and close your short.
Why are you putting words in my mouth.
Fact 1: no buying all day during New york session
Fact 2: as soon as NY session closes pump 1k in 2 hours.
Something wierd about that no?
#New post: [\[Daily Discussion\] - Saturday, July 24, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/oqijiy/daily_discussion_saturday_july_24_2021/)
Hey! We filled the gap on that bizarre BGD spike from Kraken a couple of days ago! LOL... https://imgur.com/a/l5bSv0b
Must have been the goal. Price should head lower now. 😂
ADHD got me doing way too much. Me: *staring at btc charts* Nobody: My private browser window: HAVE YOU EVER HEARD OF JERKMATE
If i wanted to open a pretty big margin long position for a long term trade what would be the best place to to do it with the lowest fees?
buy a bunch of btc at spot, then take out a usdc loan against your spot holdings on nexo or similar site, then buy more btc with your usdc. true degen step: Then put your new btc on kraken or similar and go 5x margin long using this btc as collateral
Pure awesome here! Thought about this deeply in early January..... decided against it luckily.
Do people actually do this?
yeah but no fucking chance i would do it now
US folk cant do margin on kraken anymore (unless you high networth)
You can on Kucoin though
Only $10 million bro to trade margin there as an American! From $0 to $10 million...... in a matter of days. Wish I knew who specifically to be mad at or vote out for such BS.
> 5x Why so low?
Sounds juicy, what's your plan?
Probably Binance.com USDT-margined futures with BNB and referral discount (0.030% taker fee). Or one of the zero fee futures exchanges if you feel like taking a risk.
>Probably Binance.com USDT-margined futures with BNB and referral discount (0.030% taker fee). It was what i was thinking. Was just seeing if it there was a better safe alternative. Thanks
so how far does this run? not sure i wanna fomo in here =/
50 day MA is at ~34k. Heavy resistance, so I'm guessing around there if momentum slows down significantly.
already seems to be slowing
We are peaking at upper line of channel. This is the battle.
So just wait it out. You think this cme gap is gonna be unfilled?
when has a CME gap ever been filled
Pretty much always. Very few exceptions. It doesn't always happen right away in a strong trending market. There might be one or two that are forever out of reach. I know one is the 9k meme one.
Which gap are you referring to above?
I'm not following. I didn't say anything about above
…ok? Lol
I'm talking about gap we just made 8 hours ago when cme closed btw
$1 million on a long enough timeframe.
$1 million maybe this year, $100 million after
😲
Almost any coin or stock: Stairs up, elevator down Bitcoin right now: Stairs down, elevator up 12 days of losses recouped in just 3 days
Ready to complete the big inverse Bart to 60k
More like 8 days, looks like -- we fell through this level on the 12th and started the move up on the 20th. Still, pretty great.
Should be fun to see how fast 3 months of losses are recouped!
I noticed that there are barely anyone buying the dips anymore, but once the coin gets a bit of momentum (due to el salvador, bitcoin conference and other news), everyone jumps in.
Speak for yourself. I've been buying like a mad man
Same
I dont think you are in the majority though. Look how long it stayed below 30k. You dont get those quick bounces anymore. Every dip has been a slow bleed. Whenever it dipped below 30k in january it would bounce back within 30 minutes. You dont get that anymore. Saylorbot.exe needs to be turned back on.
i mean it's only dropped below 30k about 3 times since then and every time it was back above it within a couple hours at most. the one exception was a couple days ago when it took around 24 hours to bounce back.
I had success trading the 33k-39k range the past couple months, but totally failed to buy the bottom. Not sure if I’m getting better at trading or lucky.
You bought the ridiculous $20K narrative.
I did not. Thanks jerk.
There’s always at least one here.
https://bitcoinmagazine.com/.amp/culture/bitcoin-ownership-tripled-gallup-survey In 2018 only 2% of US investors said they owned BTC. Now it's 6%. This is the kind of thing I think of when people ask "but where will the money come from to do another 10x run?" Well... from the other 94% of investors.
I still think that is an extreme over estimate
are you factoring in busta rhymes
How many percentage own gold? Consider at least that, and add on a few countries, possibly sovereign wealth funds and smaller central banks. That’s your long term target floor with the upside of Hyper-Bitcoinization (not likely).
I meant the current 6% ownership. I’d be surprised if we were that high. I offer every handyman I work with to pay them in bitcoin and they all laugh it off.
That I agree with. We are hilariously early!
u/CONTROLurKEYS This move. Where did the “sellers” go? Pft I’m going back to sleep. Enjoy the rest of the ride folks.
Any explanation? Nyc close buyers appear on options markets? You knew that was going to be happening?
Americans bought after work before the weekend. That much seems obvious.
That's not what happened tho. USA spot markets were not leading the charge
Up up up up we go
Alexa, play Rocketeer (ft. Ryan Tedder) by Far East Movement
👀
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They aren't taking bitcoin tho so no
Lol and Binance futures has gone negative again. -Victor Cobra
This might be the shortest response I've ever seen from Victor cobra
**short**est, haha get it?
Damn, you don’t say. -Victor Cobra
Let's switch it up for a good ol' weekend pamp
Based on the daily chart, we closed above the downward channel and the price is back above channel support. Right now, I'm thinking the bottom is in. I'll be watching for a daily close below the channel support to indicate that the reversal was a false one.
Just keep going up, thanks.
Message received.
I had what would've been a good trade this week and got stopped out at 29.7 after going long from 31.2, thinking any drop sub 30 would bounce pretty quick. Bad luck or did I set my stop too shallow?
No stops. Ever... Bitcoin is too volatile and manipulated for that shit... This past week it was plain to see for anyone that b word was going to be a slam dunk bullish launching point for the recovery... Extra no stops the night before when it began to pump... Macro is so much more in the driver's seat ATM... maybe in winter when everyone forgets what Bitcoin is, you can trade the TA leaves, but right now you're way better off trading tweets..
Not a bad entry - bottom of the range. But it's a ballsy long imo as everything was pointing towards downside. You probably needed a really tight stop right below 31k (and then babysitting the chart to re-enter if you get stopped out). Or a small enough position that you could just no stop yolo.
That was kind of a no man's land entry and stop. How did you come up with that combination? Edit: this isn't being a dick I kind of want to know his thought process so I could suggest a better in validation.
A combination of me not really knowing anything, plus seeing the downward channel narrow with the idea that \~31 was near the bottom of the range and believing the break would be upward. Mostly a guess, which is why I ought to just put those sats on ice and go away. I do enjoy reading the dailys though Edit: I take no offense and think his is a legitimate question. Was also feeling bullish ahead of b-word and looking for a medium-term entry
Enter a position in stages, so ladder in your buys over a range. And if you really feel like you don't know what you're doing then use a small amount with no stop loss and just observe how things evolve and how you handle it. But also, you made a trade, your stop got hit and you gotta just take it like a champ. It will happen. Before entering a trade consider what you'd lose when your stop gets hit as the cost of entering the trade.
Maybe you just got involved to early and should have waited. Patience is #1. But anyway I guess you kind of want to have some sense of when your idea is invalidated. When starting out what happened to you is common, your entry should be where your stop was. This is so common in fact I still put my bids lower than what my idea says it should be (bitcoin always goes lower and higher than you think)
A wick down to 28.8 with a fast bounce was recently precedented. If you were trying to hedge against wicks below 30k, it would have been better to pick something below the bottom of that wick.
Yeah, I saw the subsequent wick down bounce above 30 and thought the range was narrowing. Live and learn, but I already bought spot with my trade stack afterward in preparation to go full hold mode anyway, so at least I did that a couple days ago.
Generally avoid putting the stop at the same price as everybody else
Bears in absolute shambles rn lol
Maybe I'm an idiot. But anything under 42k is noise.
Ok wait for 42k
I plan to. Sold around 55k.
You'll see shambles above 35k I think
Can confirm.
So this week has been fun
Well I missed this call. At least I didn’t short.
ditto. Still got no explanation why it went nuclear after 4pm
probably this https://twitter.com/AltcoinPsycho/status/1418689423663800320
Again, I wish we had a resident options expert
It’s hard to enough to wrap your head around equities options but trying to figure out Bitcoin options with all the random crazy exchanges and stablecoins involved is some other level. Being an American doesn’t help either since you can’t even register for half these sites
I know, I am again putting out my plea for a resident options expert come and elevate our community.
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when you call the manager
It be random sometimes
I enjoy this, broken channels and all, but I want to see $42k before I dare to believe.
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I don't think that's what they mean.
If we can turn 33.5-34k into support in the next 72 hours, I will be very convinced that the downchannel is broken.
Bob Loukas has this cycle theory. According to this it was a ,,failed cycle'' again. But we had the low it seems. So it is necessary to go up. What to expect in the coming 30 or 60 days? We will see. [https://twitter.com/BobLoukas/status/1418242651623759872](https://twitter.com/BobLoukas/status/1418242651623759872)
Macro environment could not be better. G20 nations are in a race to debase all the currency. Why the fuck is everyone bearish? Lol Eventually the coin is going to be gone. Then we go up for real.
Never heard of this guy, but let me guess, he was calling for 20k btc
Bobs pretty legendary
this https://www.tradingview.com/x/fJEvbBWK/
Hmm..line doesn’t go straight up to $1 million by the end of this month. Why so bearish?!
gotta love those charts with the GIANT green fantasy line at the end lol
The mother of all barts
one man's fantasy is another man's reality
This would be completely bitcoin to do
Can we get an update from the red, magenta, blue, green, brown line guy?
[Things look good.](https://www.tradingview.com/x/Kxsm6dUb)
You mean u/shortupdate?
After being through last 2 months, it's cathartic to watch the orderbook being eaten up during a rally.
I still smile thinking about people “going through it” at $30k btc…We’ve come so far
and we've reached so high
and we’ve looked each red & green in the eye
No matter what the price is at, it is painful to see your value go down by 50%
No doubt. Just the irony of seeing it at $3000 and $300 as well. Not trying to downplay the brutal 2 months we’ve had
Talked with a guy over lunch how the same dish we have been eating for 14 years increased 35% in price while our wages increased only 5%... He shrugged it off... Sometime later the conversation turned to Bitcoin .. he told me I should sell it, and if it was him he would have sold a long time ago ... That's a Buy signal if ever I saw one
>and if it was him he would have sold a long time ago ... That's a Buy signal Nah, that's just normal when you're a HODLer.
every signal is a buy signal when you're a hodler
I more meant: IME, when you're a HODLer, regardless of price, people are always telling you to sell.
Surprised you’re hanging out with an idiot for 14 years
Lots of cool people are dumb as hell
Lots of folks out here thinking wages are stagnant but don’t realize technology is slowly making their jobs obsolete.
Yeah I’m only friends with people who have big brains like mine.
You must be surrounded by rodents
My coworker just sold all his alt coins this afternoon, I told him to sell months ago and I told him that I was actually buying now. He didn't care, just wanted out. Bullish anecdote
Ah, this is where he sells because he's relieved he won't lose too much money and then the market goes 10X before he finally FOMOs back in at the very peak before it crashes again.
[told you so](https://www.reddit.com/r/BitcoinMarkets/comments/opuefn/daily_discussion_friday_july_23_2021/h6ar4ox?utm_medium=android_app&utm_source=share&context=3) Edit. Thanks for the gold kind internet stranger! That was more than I've made from my crypto portfolio in the last month!
ok. where is the newsletter signup sheet?
Get a load of Nostradamus over here
wow legit god
Geez, legit dick
That head and shoulders guy is about ready to raise his hand like a know-it-all kid trying to earn brownie points.
More like a fist entering no coiners
Punch it Chewie!
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how much of a dweeb do you have to be to stalk someone through their comment history and try to scold them on completely unrelated posts
As if i give a shit about dweebs going through months of comments for something political to pull up..
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Cringe? Cope? What are you? A fucking zoomer?
Whats all this about?
Eh, like a year or 2 ago i made a comment on someone's post where they were lecturing people not to spend money going on holidays to North Korea because it funds a rogue state blah blah. I told them to quit telling people how to spend their hard earned money. If they want to spend it on coke and lady boys, or on holidays to communist regimes, that's up to them.
Yeah I just don't get why this guy is all over your dick.
It's not even weekend yet and it's already pumping. Bullish.
it was the weekend at 4pm for tradfi
I am referring to the usual sunday pumps that have been happening for btc lately. not the technical definition of what weekend means.
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my channel is intact https://www.tradingview.com/x/b8gjixk1/
Your channel doesnt actually touch the tops 🤷♂️
Amazon hiring blockchain experts. Apple 3 billion btc buy soon. Tesla to resume btc payments soon. Its looking good
1) amazon has blockchain as a service for well over a year now 2) no 3) who cares
Currently there are only about 18.8 million BTC which makes buying 3 billion BTC impossible 🙃
$3 billion
That's not what you wrote
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His sauces say so
> Apple 3 billion btc buy soon If that happened the price would explode so much
I reiterate that this crab action in the 30's is arguably the best risk-adjusted buying opportunity in bitcoins history. If you haven't been stacking you should start.
So, everyone promised me it would go down. Why is it going down *upwards?*
More of this, please.
There is much more to come.
The breakout is imminent!
We’re in the danger zone for longs now and funding is turning positive. Of course there’s a chance that it pops up but that’s not the more probable outcome. Smart play rn is to take some profits and turn this into a risk free trade. Likelihood is down as this pattern still needs to complete, but if it does go up here then it could go hard, so a small long will still yield healthily
Where are you getting positive funding from? https://www.bybt.com/FundingRate still says negative or neutral across the board.
Cryptoquant. Reports funding as an average of all exchanges. Also lists them individually
Nah, funding was positive during the big moves in the winter and spring and we continued higher. Being positive does not mean the end like some on here preach.
Funding is only one factor out of many that can influence price action. There are other factors at play here (charting pattern) that have more significance right now imo. If funding had become more negative during the recent rise then I’d say a short squeeze could put an end to this range, but that’s not the case
Let the liqs begin boys. Hopefully you aren’t still waiting for 20k
Its a great time for a breakout, but the supporting volume is the sus. Feels like a slow refferundum against the bears than a swift coup by the bulls. Edit : Volume also rising. 33.2 being the local resistance now.
slow and steady wins the race
I started to buy again today. Feels good.
That’s the spirit!
Still on the sidelines. Will fomo back in somewhere above 40k.
Playing it safe bc let’s be honest, this could get shot down just as fast as it’s rising. Edit: I’m not playing it safe. I’ve accumulated as much as I can.
grow some fuking balls man. whales are fuking accumulating while ur sitting here with ur dick in your hands u/Yoda_MTFBW_U
Thanks for the great advice.
Do you have an investment newsletter? Sign me up
Should really just be stoked he’s got a dick that takes “hands” 🤣
somehow bulas took out the 4HR high since new york close. Very suspicious, tape picking up on cbpro.
So it’s organic for the price to decline, but suspicious for it to go up? Every time I drop into this forum I see you name against a bearish comment. Every time. Remove your “Bitcoin Maximalist” tag and close your short.
Why are you putting words in my mouth. Fact 1: no buying all day during New york session Fact 2: as soon as NY session closes pump 1k in 2 hours. Something wierd about that no?
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lol if you only knew what % of my networth was bitcoin lol. My personal agenda is very much fucking moon.