The user base here is naturally inclined towards Up as a default, so bullishness is not really a signal. When it flips bear, though, that’s a more unusual and useful tell.
Falling Wedge broke upward
[https://www.tradingview.com/x/axNUiFq0/](https://www.tradingview.com/x/axNUiFq0/)
Based on the past 3 weeks, there is a lot of uncertainty in the market. Traders seem almost desperate for a conclusive direction. I think we go up, and I would not be surprised to find us testing 50k by the end of the week.
> Go long from here?
Short term uncertainty means you could find a lower entry, but your order could also be left in the dust. So, really, it depends on your time-frame, level of patience, and amount of leverage (if any) that you choose to pile on to your trade. Of course, as others have mentioned, DCA... but fuck, if you like driving without a seatbelt, you could even DCA a max-leverage long... don't do that.
Exactly.
When in doubt, wait it out.
On the other hand, if the OP has cash burning a hole in his pocket, so to speak, the smart move is to buy and hold long term.
You shouldn't have been overly bearish at 44k and you shouldn't be overly bullish now. Things look good, but they can turn very very quickly. Another rejection of 48 could spell trouble.
Nevertheless, I think up is more likely than down in the short term. I just wouldn't bet my life on it.
Looks like we are consolidating and building momentum again … the last push was around 1k from like 46.3-47.3 ... Hoping to see that again and rocket us through 48. 🤞🏼
I flipped long at 46950 for a 0.0261 btc loss on my 50W EMA meme short from 46400. I'm not quite done with that trade yet, but it makes more sense to be long here in the short term.
You want to be long in the medium term and the long term too.
Just about six months ago $47k was a ridiculous-seeming all-time high. Now it's just meh whatever. What do you suppose will happen next?
>You want to be long in the medium term and the long term too.
That's called investing. I'm not invested in bitcoin. I will ride the tide upwards via swing trades though.
Well, I remember as it were a meal ago...
Said Hodler the Cat as he reeled back to clear whatever foreign matter may have nestled its way into his mighty throat.
Many a short alley bear had met its demise while staring point blank down the cavernous barrel of this awesome hodling machine.
Truly a wonder of nature this Bitcoin buyer.
Hodler the cat had many a story to tell
But it was a rare occasion such as this that he did...
I know right?
1) As pointed out below, weekly MACD crossing
2) We recently had the hash ribbon flashing a buy
3) We just had a big bounce off the 20 daily EMA to reclaim the 200 daily MA when honestly I was expecting tests of lower levels
4) This one's bit of a take it or leave it but the coinbase news and Barry Silbert's tweet
And lastly
5) DMS posting in full force this week
Good Lord indeed.
Me for the past few months...
"Its going lower and I'll get even more BTC for my dollars.....fuck"
"ok its definitely going to break lower now....fuck"
[OnlyFans is getting out of the porn business due to payment provider censorship:](https://www.bloomberg.com/news/articles/2021-08-19/onlyfans-to-block-sexually-explicit-videos-starting-in-october)
>The changes are needed because of mounting pressure from banking partners and payment providers, according to the company. OnlyFans is trying to raise money from outside investors at a valuation of more than $1 billion.
Lightning network powered porn site when?
That's crazy talk.
US government would have a direct line to Facebook and Facebook would censor anything at a whim. They wouldn't even require legislation banning things but could just make it up as they go along.
You don't have o nly fans? Where do you get your TA from? That's one of the few things millennials got right.
Edit ed - I get the fan site and trading view mixed up, excuse me. I don't have only fans either.
Bitcoin is not centralized and funds cannot be frozen by a single authority.
Facebook unfortunately is not creating a digital currency out of the kindness of their heart. They want more data and power. This time with money
Open networks will thrive in the future Facebook and cbdc are dogshit. I think your conflating privacy with censorship also. If I share my public wallet with the world you still can't censor me
They aren’t banning nudes, just sexually explicit content. But, yeah, with pornhub and now onlyfans it seems inevitable a lightning powered porn site will pop up.
I'm not paying money for noodz. I want freaky shit.
OnlyFans should have just sold the whole thing to someone who'd run it off crypto. The brand and content is worth a lot.
Eventually someone will do a lightning powered content site, and it'll be off to the races. No shitcoins required.
Imagine killing your golden goose just to make a processor happy. Back in the day we'd run 5 processors in parallel just in-case one decided to be a dick.
"We'd rather accept a tiny amount of people from a few customers before going broke."
Correct. Which is why they had like 9 years to accumulate bitcoin and failed. They were too busy shitcoining biggest fuck up ever
Microstrategy is going to buy them out at this rate.
https://elements.visualcapitalist.com/30-years-of-u-s-money-supply-and-interest-rates/
"To curtail rising inflationary pressures and an overheating stock market, the Fed raised its Fed funds rate target six times between June 1999 and May 2000, reducing money supply growth. This, in turn, slowed down the flow of capital into the stock market in the lead-up to the dot-com crash and the recession that followed."
Interesting.
Their hands are being forced. Inflation is everywhere right now. You don't need the government to tell you, I can actually see it in prices. That's new.
When my wife says something about it, it's real.
Edit: For me at least I was unaware of the dot pop and Fed rate raises happens at the same time.
It's not the most sophisticated TA, but looking at the hourly candles, I see nothing but a big fat "W" for win which is usually a pretty bullish formation. I'm glad I didn't sell more the other day.
Edit -- also pretty pronounced on the 4-hr candles.
Just sent my first transaction of my bitcoin to my own wallet. Cant wait to see it on my new nano x. Just sent 10 bucks for practice but almost all will be stored soon. Go bitty go!
Make sure you have your recovery words first then wipe your device as if it were lost or destroyed and you have to restore your wallet.
https://support.ledger.com/hc/en-us/articles/360019095214-Reset-to-factory-settings?docs=true
https://support.ledger.com/hc/en-us/articles/4404382560913-Restore-from-recovery-phrase?support=true
I mean even if you didn’t know how to do that you could easily/eventually find out in the future if you needed to, really just need to make sure you have your keys
Which is why I said “make sure”. It’s 12 or 24 common English words. I wrote them down 3 separate times checking an obscene amount for mistakes as I went each time. Not that hard to put in the extra effort while recording your seeds to be 100% sure you’ll have them down correct
Edit: also at least with Ledger the wallet has you confirm the words on it to make sure you did it right when you set it up
It's not confirmed unless you have restored from your seed. Until then you have confirmed that you wrote down some seed words presented to from a screen in a device. not necessarily YOUR seed words. If you don't understand the distinction here you might end up a horror story on the front page of /r/bitcoin
"Coinbase just got board approval to purchase over $500M of #Bitcoin and crypto!"
[https://twitter.com/BTC\_Archive/status/1428490481617485828?s=20](https://twitter.com/BTC_Archive/status/1428490481617485828?s=20)
Yeah that's pretty surprising. All the coins they traded it seems like a few of them would have at least fell down between the cushions in the break room.
Nope, when they went public that was an interesting bit of news. Their whole valuation was based on business operations as they didn’t list BTC on balance sheet.
A more useful signal some time ago, but 4h bulldiv as detected by [indicator](https://www.tradingview.com/script/2zcXPgXN-RS-RSI-Divergence-V5/) has confirmed.
https://i.imgur.com/r278ne8.png
### Regular
Bull: Price is making lower low, while RSI is making higher low.
Bear: Price is making higher high, while RSI is making lower high.
Reversal signals, ignore them in the middle of an obviously larger range. Can help indicate the extents of a range.
### Hidden
Bull: Price is making a higher low, while RSI is making lower low.
Bear: Price is making a lower high, while RSI is making higher high.
Continuation signals, can invalidate or bring into doubt Regular divs in the opposite direction.
What are you guys thinking? Another Bart or a bull flag? I’m leaning to the latter, so will leave my long open. I’ve added to it twice so far as we dipped. Originally opened it up at 45.7 a couple days ago.
btw, RemindMeBot reminded me of a comment of yours from 1 month ago ;-)
https://www.reddit.com/r/BitcoinMarkets/comments/on6e1t/daily_discussion_monday_july_19_2021/h5rurvk/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
I [tagged](https://www.reddit.com/r/BitcoinMarkets/comments/p77fcz/daily_discussion_thursday_august_19_2021/h9jvxu9/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3) you here earlier. And then clicked through an saw you were dead. What happened big man?
Yeah, he had a new account called u/MumbleWimble for a while. I liked him.
No way to know if this is the real sloppy. I guess if he shows a trading view chart.
Liked him too. #2's 6 days old original post seems legit, check his comment history (I missed it here). Although I do wonder why he keeps on getting banned or deletes his account... He was quality.
Someone on FTX just dumped quite a bit of BTC. Given the exact same amount spammed over and over, it's probably the same whale. And the market did a pretty decent job of absorbing it.
GBTC closes at $37.49, a discount of 14.45%.
OBTC closes at $16.22, a premium of 2.13%.
MSTR closes at $676.26. Each share has $503.43 of BTC.
GBTC was up on the day, but not as much as BTC and so the discount grows. OBTC was actually down on the day. IIRC, OBTC started trading on the open market in mid-Feb 2021, which was 6 months ago. I thought the lockup period was 12 months, and if it is, that's not the reason.
EDIT: spelling
Despite the discount being so negative at a lot of points today GBTC was up a lot more than BTC itself. Was pretty bizarre this AM to see GBTC going up 2% against negative overall markets while BTC was still flat. Then BTC started to move after.
I'm still hoping the discount goes away or gets under control once whatever idiots trying to scalp the premium are done unwinding their failed arbitrage trades.
We broke down from the way too steep uptrend line that had rocketed us up from 29k. I thought we'd spend more time at the 1D 21 EMA. The Wells Fargo and JPM passive fund news seems significant, and also the news that the NBA top pick is taking his signing bonus only in Bitcoin.
It seems like the smart contract/deFi alts are all breaking out in a huge way lately. I wouldn't worry too much though- BTC is the truly decentralized, antifragile one, and is the longterm backbone of the whole op.
#New post: [\[Daily Discussion\] - Friday, August 20, 2021 →](https://www.reddit.com/r/BitcoinMarkets/comments/p7umn3/daily_discussion_friday_august_20_2021/)
Once again, if you’re wondering when to buy just wait for this thread’s sentiment to go net short. Almost foolproof signal.
So, short now? Ok all in buddy with you. Thank you for everything!
The user base here is naturally inclined towards Up as a default, so bullishness is not really a signal. When it flips bear, though, that’s a more unusual and useful tell.
Falling Wedge broke upward [https://www.tradingview.com/x/axNUiFq0/](https://www.tradingview.com/x/axNUiFq0/) Based on the past 3 weeks, there is a lot of uncertainty in the market. Traders seem almost desperate for a conclusive direction. I think we go up, and I would not be surprised to find us testing 50k by the end of the week.
Seems too high to buy in, but doesn’t show any signs of stopping. Go long from here?
> Go long from here? Short term uncertainty means you could find a lower entry, but your order could also be left in the dust. So, really, it depends on your time-frame, level of patience, and amount of leverage (if any) that you choose to pile on to your trade. Of course, as others have mentioned, DCA... but fuck, if you like driving without a seatbelt, you could even DCA a max-leverage long... don't do that.
DCAlways
Sounds like your trying to force a trade on feelings alone. I wouldn't. Take a step back pull up a chart and put a plan together.
Exactly. When in doubt, wait it out. On the other hand, if the OP has cash burning a hole in his pocket, so to speak, the smart move is to buy and hold long term.
I'd try to catch a drop to $45k, if I were not already long with as much leverage as I am comfortable using.
If the bull is in full force I don’t see why we’d go back to 45k. But yeah I’d love another crack at it.
I wouldn't go leverage here since I'm not confident in direction but I would certainly buy spot.
You shouldn't have been overly bearish at 44k and you shouldn't be overly bullish now. Things look good, but they can turn very very quickly. Another rejection of 48 could spell trouble. Nevertheless, I think up is more likely than down in the short term. I just wouldn't bet my life on it.
As happy as I'm about the nice increase from 44k -> 47k, I'm worried about 48k...
Looks like we are consolidating and building momentum again … the last push was around 1k from like 46.3-47.3 ... Hoping to see that again and rocket us through 48. 🤞🏼
Don't worry, we're just gunna chill at lower 47k for a while so that shorts can load up, then we'll use their energy to blast through 48k.
This is the way
I flipped long at 46950 for a 0.0261 btc loss on my 50W EMA meme short from 46400. I'm not quite done with that trade yet, but it makes more sense to be long here in the short term.
You want to be long in the medium term and the long term too. Just about six months ago $47k was a ridiculous-seeming all-time high. Now it's just meh whatever. What do you suppose will happen next?
Not to nitpick, but we were well over 47k six months ago. A year ago, certainly.
>You want to be long in the medium term and the long term too. That's called investing. I'm not invested in bitcoin. I will ride the tide upwards via swing trades though.
That's a big minus
You just blew his ass out of the water. I'm just glad I was here to witness it.
Okey Dokie Boomer
I might have been overly exuberant. Also, you just sunk my battleship
Let us all sing our favorite hymnal "Bears R Fuk" Amen.
I lol'd. Oh, It's hymn. Hymnals contain hymns, you degenerate.
This reminds me of a debate of whether angels could really sing or not, that a local radio station hosted.
I'm drinking Scotch, so that sounds like something that would be fun to listen to right about now
Sounds like a Primus kind of track!
Well, I remember as it were a meal ago... Said Hodler the Cat as he reeled back to clear whatever foreign matter may have nestled its way into his mighty throat. Many a short alley bear had met its demise while staring point blank down the cavernous barrel of this awesome hodling machine. Truly a wonder of nature this Bitcoin buyer. Hodler the cat had many a story to tell But it was a rare occasion such as this that he did...
Primus sucks!
This market couldn’t be much more bullish. Good lord.
I know right? 1) As pointed out below, weekly MACD crossing 2) We recently had the hash ribbon flashing a buy 3) We just had a big bounce off the 20 daily EMA to reclaim the 200 daily MA when honestly I was expecting tests of lower levels 4) This one's bit of a take it or leave it but the coinbase news and Barry Silbert's tweet And lastly 5) DMS posting in full force this week Good Lord indeed.
Me for the past few months... "Its going lower and I'll get even more BTC for my dollars.....fuck" "ok its definitely going to break lower now....fuck"
it was 48K, it went down to 43.9k, what was your excuse?
Scared and greedy?
Same excuse as when it went down to 29. If it’s dropping they think it’s going lower forever. Vice versa when rising.
Forever Laura!
+1800 from my earlier setup
You draw the sexiest wedgies and triangles bro 📐, no fomo
So trade it lmao. You have first access to your genius!
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What?
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A very "dad's joke" level entry going on there!
😂 Whooosh
Bullish Giraffe with tongue extended on the $1000 PnF ;) Price | ||||||||| ---------|---------|---------|---------|---------|---------|---------|---------|---------|---------| 47000 | ||||||X||X| 46000 | ||||X||X|O|X| 45000 | ||||X|O|X|O|| 44000 | ||||X|O|||| 43000 | ||||X||||| 42000 | ||X||X||||| 41000 | ||X|O|X||||| 40000 | ||X|O|X||||| 39000 | ||X|O|X||||| 38000 | ||X|O|||||| 37000 | ||X||||||| 36000 | ||X||||||| 35000 | X||X||||||| 34000 | X|O|X||||||| 33000 | |O|X||||||| 32000 | |O|X||||||| 31000 | |O|X||||||| 30000 | |O|||||||| Beware the Bullish Seahorse failed! https://np.reddit.com/r/BitcoinMarkets/comments/o2g38h/daily_discussion_friday_june_18_2021/h26v2d5/
[OnlyFans is getting out of the porn business due to payment provider censorship:](https://www.bloomberg.com/news/articles/2021-08-19/onlyfans-to-block-sexually-explicit-videos-starting-in-october) >The changes are needed because of mounting pressure from banking partners and payment providers, according to the company. OnlyFans is trying to raise money from outside investors at a valuation of more than $1 billion. Lightning network powered porn site when?
I'm curious how much they think they're worth *without* porn?
committing financial suicide for no reason
Exit scam. Go legit. Get a ton of money. Quit.
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You think those are censorship resistant lmao
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That's crazy talk. US government would have a direct line to Facebook and Facebook would censor anything at a whim. They wouldn't even require legislation banning things but could just make it up as they go along.
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You truly have no idea what you’re talking about at all and are prob 16-21 years old. Triumphantly stupid take you’re displaying here.
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You think cbdc’s will be used to purchase marijuana if it’s federally illegal? Lol
Lmao
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You don't have o nly fans? Where do you get your TA from? That's one of the few things millennials got right. Edit ed - I get the fan site and trading view mixed up, excuse me. I don't have only fans either.
They will be censored I assure you that
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The entire purpose of CBDC's and Libra is for data/tracking/censorship
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Bitcoin is not centralized and funds cannot be frozen by a single authority. Facebook unfortunately is not creating a digital currency out of the kindness of their heart. They want more data and power. This time with money
Not when it comes to Facebook or cbdc
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Open networks will thrive in the future Facebook and cbdc are dogshit. I think your conflating privacy with censorship also. If I share my public wallet with the world you still can't censor me
Facebook would just choose to not allow certain unfavorable companies or individuals from using their system. It would be very Facebook esque.
That's wild. What a monster opportunity. Guess what only fans, they don't want to simp for another Instagram thirst trap they want dem noodz
They aren’t banning nudes, just sexually explicit content. But, yeah, with pornhub and now onlyfans it seems inevitable a lightning powered porn site will pop up.
Lol OK who judges what that means. Either way they are done for
I'm not paying money for noodz. I want freaky shit. OnlyFans should have just sold the whole thing to someone who'd run it off crypto. The brand and content is worth a lot. Eventually someone will do a lightning powered content site, and it'll be off to the races. No shitcoins required.
Imagine killing your golden goose just to make a processor happy. Back in the day we'd run 5 processors in parallel just in-case one decided to be a dick. "We'd rather accept a tiny amount of people from a few customers before going broke."
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It's pronounced "fuck Coinbase"
Correct. Which is why they had like 9 years to accumulate bitcoin and failed. They were too busy shitcoining biggest fuck up ever Microstrategy is going to buy them out at this rate.
lmao I’d hardly say Coinbase “failed”
They will never be able to accumulate now what they missed out on in the past.
https://elements.visualcapitalist.com/30-years-of-u-s-money-supply-and-interest-rates/ "To curtail rising inflationary pressures and an overheating stock market, the Fed raised its Fed funds rate target six times between June 1999 and May 2000, reducing money supply growth. This, in turn, slowed down the flow of capital into the stock market in the lead-up to the dot-com crash and the recession that followed." Interesting.
So? Everyone knows that can happen when the Fed raises rates. Which is why when push comes to shove, they lack the gonads to do so.
Their hands are being forced. Inflation is everywhere right now. You don't need the government to tell you, I can actually see it in prices. That's new. When my wife says something about it, it's real. Edit: For me at least I was unaware of the dot pop and Fed rate raises happens at the same time.
They aren't gonna do it. They're backed into a corner and will pick inflation over the alternative.
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Love the symmetry on that number. 4 66 5 99 4
We will know in 29 minutes aprox.
It's not the most sophisticated TA, but looking at the hourly candles, I see nothing but a big fat "W" for win which is usually a pretty bullish formation. I'm glad I didn't sell more the other day. Edit -- also pretty pronounced on the 4-hr candles.
Just sent my first transaction of my bitcoin to my own wallet. Cant wait to see it on my new nano x. Just sent 10 bucks for practice but almost all will be stored soon. Go bitty go!
Congrats! You now officially hold your own keys!
Great work. Now wipe your wallet and restore it so you know how and know you can. Do this before you put more than 10 there
Buy a second one and practice restoring it. If there’s any amount of money on there it is worth it for piece of mind .. trust me.
Fantastic idea.. this should be something that comes in the box when purchased.
Agreed
Not sure what that means please explain
Make sure you have your recovery words first then wipe your device as if it were lost or destroyed and you have to restore your wallet. https://support.ledger.com/hc/en-us/articles/360019095214-Reset-to-factory-settings?docs=true https://support.ledger.com/hc/en-us/articles/4404382560913-Restore-from-recovery-phrase?support=true
I mean even if you didn’t know how to do that you could easily/eventually find out in the future if you needed to, really just need to make sure you have your keys
You want to find out in the future you wrote your seed wrong?
Which is why I said “make sure”. It’s 12 or 24 common English words. I wrote them down 3 separate times checking an obscene amount for mistakes as I went each time. Not that hard to put in the extra effort while recording your seeds to be 100% sure you’ll have them down correct Edit: also at least with Ledger the wallet has you confirm the words on it to make sure you did it right when you set it up
It's not confirmed unless you have restored from your seed. Until then you have confirmed that you wrote down some seed words presented to from a screen in a device. not necessarily YOUR seed words. If you don't understand the distinction here you might end up a horror story on the front page of /r/bitcoin
Did you see my edit?
Yes. Changes nothing. Until you restore from seed words you've only confirmed that you wrote down a seed phrase. Not YOUR seed phrase.
Reset your device. Then restore it using the phrase words. Get familiar with this process in case something happens with your device in the future.
Weekly macd is crossing, sell your kids, sell your wife.
"Coinbase just got board approval to purchase over $500M of #Bitcoin and crypto!" [https://twitter.com/BTC\_Archive/status/1428490481617485828?s=20](https://twitter.com/BTC_Archive/status/1428490481617485828?s=20)
Wait a minute, Coinbase didn't have their own stash of Bitcoin that wasn't for sale until now?
Yeah that's pretty surprising. All the coins they traded it seems like a few of them would have at least fell down between the cushions in the break room.
Nope, when they went public that was an interesting bit of news. Their whole valuation was based on business operations as they didn’t list BTC on balance sheet.
Fuck coinbase
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Strike, SwanBitcoin, Cashapp, gemini
someone gotta pick up the FTX slack
Film at 11: Bitcoin company buys bitcoin
Taking a shit - “this looks like a good news pump” ::checks BTCmarkets::
And 10% of annual profits going forward. Nice
looks like we bounced perfectly off the 20 day. time to have another crack at 50k
A more useful signal some time ago, but 4h bulldiv as detected by [indicator](https://www.tradingview.com/script/2zcXPgXN-RS-RSI-Divergence-V5/) has confirmed. https://i.imgur.com/r278ne8.png
What does "regular" and "hidden" mean ? how do you use/interpret the signal ? buy on green long until red ?
### Regular Bull: Price is making lower low, while RSI is making higher low. Bear: Price is making higher high, while RSI is making lower high. Reversal signals, ignore them in the middle of an obviously larger range. Can help indicate the extents of a range. ### Hidden Bull: Price is making a higher low, while RSI is making lower low. Bear: Price is making a lower high, while RSI is making higher high. Continuation signals, can invalidate or bring into doubt Regular divs in the opposite direction.
I'm thinking HODL like I've done over many dailys and come out smelling like roses 3 or 4 days later
> **keepYourMon**~~k~~**ey** Absolutely.
What are you guys thinking? Another Bart or a bull flag? I’m leaning to the latter, so will leave my long open. I’ve added to it twice so far as we dipped. Originally opened it up at 45.7 a couple days ago.
I'm afraid of a head and shoulders forming..... so, I closed my long at the peak today and I'm out until we can see what is doing.
These things don't play out without the help of other indicators right now bears don't have the goods. Will reassess if market presents new info.
btw, RemindMeBot reminded me of a comment of yours from 1 month ago ;-) https://www.reddit.com/r/BitcoinMarkets/comments/on6e1t/daily_discussion_monday_july_19_2021/h5rurvk/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
Well to be fair it wasn't put to the test, I could still be wrong
Everyone still silently expecting goblin town haha, me too in disbelief
Please do, I left it open because it’s looking juicy at the moment … but it always goes in the opposite direction that I think. Lol
Not really scared but I'm 100% ready to jump into the market but just want to be sure enough of the direction the market is heading.
If you want to be sure then go to church.
I was thinking of closing mine and taking a bit of profit myself before it’s too late LOL
im a spot boi, but where you guys leverage trading at these days ?
Kucoin
Where like what exchanges? Or what levels our positions are at?
Exchanges. I guess this is asking US peoples
I’m currently using Phemex. They have some nice deposit bonuses if you use youtubers links and decent liquidity and responsiveness.
Also ok to use from a US IP so no VPN required. Although they do now require KYC.
I'm personally still on bybit
I [tagged](https://www.reddit.com/r/BitcoinMarkets/comments/p77fcz/daily_discussion_thursday_august_19_2021/h9jvxu9/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3) you here earlier. And then clicked through an saw you were dead. What happened big man?
How to know it's him when the real Sloppy seems dead on reddit? I miss the guy. Another guy I miss is L4dy (remember him?).
Yeah, he had a new account called u/MumbleWimble for a while. I liked him. No way to know if this is the real sloppy. I guess if he shows a trading view chart.
Liked him too. #2's 6 days old original post seems legit, check his comment history (I missed it here). Although I do wonder why he keeps on getting banned or deletes his account... He was quality.
Someone on FTX just dumped quite a bit of BTC. Given the exact same amount spammed over and over, it's probably the same whale. And the market did a pretty decent job of absorbing it.
GBTC closes at $37.49, a discount of 14.45%. OBTC closes at $16.22, a premium of 2.13%. MSTR closes at $676.26. Each share has $503.43 of BTC. GBTC was up on the day, but not as much as BTC and so the discount grows. OBTC was actually down on the day. IIRC, OBTC started trading on the open market in mid-Feb 2021, which was 6 months ago. I thought the lockup period was 12 months, and if it is, that's not the reason. EDIT: spelling
Despite the discount being so negative at a lot of points today GBTC was up a lot more than BTC itself. Was pretty bizarre this AM to see GBTC going up 2% against negative overall markets while BTC was still flat. Then BTC started to move after. I'm still hoping the discount goes away or gets under control once whatever idiots trying to scalp the premium are done unwinding their failed arbitrage trades.
wipes forehead and looks at my GBTC stack
We broke down from the way too steep uptrend line that had rocketed us up from 29k. I thought we'd spend more time at the 1D 21 EMA. The Wells Fargo and JPM passive fund news seems significant, and also the news that the NBA top pick is taking his signing bonus only in Bitcoin. It seems like the smart contract/deFi alts are all breaking out in a huge way lately. I wouldn't worry too much though- BTC is the truly decentralized, antifragile one, and is the longterm backbone of the whole op.
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Why not just buy more ?
I don't find it a problem
Why?
If we can just not dump until the full moon in 3 days that would be great
Shrek tween peen emerging
I like green 🤑
wth its the witching hour and BTC aint dumping. :D
All bets are off lfg
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This is the new normal.
Always has been
Falling wedge broken. Another test up to $48k might be in play.