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Thread: Bitcoin

  1. #577

    Default Re: Bitcoin

    Quote Originally Posted by uscfanhawaii View Post
    So Tom....now that Bitcoin HAS broken through resistance, what’s next????
    It looks like the $10,500 is the 2020 high and could be a temporary double top peak?

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  2.  
  3. #578

    Default Re: Bitcoin

    Pullback this weekend...

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  5. #579

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    Default Re: Bitcoin

    Crazy how hard crypto can rip to the downside. This weekend was something like 15% and look how small it looks on that chart compared to early March. Whats is that, 9200 to 4000 in 7 days back in March? More than 50%. Wow.

  6.  
  7. #580

    Default Re: Bitcoin

    Cup and handle breakout coming?

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  9. #581

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    Default Re: Bitcoin

    She's a climbin'! At $12.2K, we are at the highest level since coming off the December '17 all time high.

    https://www.tradingview.com/symbols/BTCUSD/

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  11. #582

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    Default Re: Bitcoin

    Some questions for those involved in crypto trading:

    What percentage of your assets go into crypto?

    How do you keep track of your transactions come tax time?

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  13. #583

    Default Re: Bitcoin

    I switched from trading bitcoin to just GBTC so I report it just like reporting any other stock transaction.

    When I was trading crypto, coinbase gave a nice detailed report of your transactions.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  14.  
  15. #584

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    Default Re: Bitcoin

    Sheesh. So much for bitcoin being an alternative investment. Down 15% in the last three sessions. Seems everything moves in the same direction these days.

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  17. #585

    Default Re: Bitcoin

    Missed the breakout? It's back below 10,000.




    Quote Originally Posted by tsptalk View Post
    Cup and handle breakout coming?

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.


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  19. #586

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    Default Re: Bitcoin

    I've read that the Chinese are very heavily into bitcoin - for various reasons. The rich have always purchased real estate abroad because the rules allow it. Stocks, not so much. Despite all their rah-rah for their great leader rhetoric, the well-off all have exit strategies if/when they depart for less authoritarian places to live.

    Wonder how much of that $50B went into propping up TSLA and AAPL?

    Over $50 billion of cryptocurrency moved from China-based digital wallets to other parts of the world in the last year, pointing to possibilities that Chinese investors are transferring more money than allowed out of the country, a new report claims.


    Chinese citizens are only allowed to buy up to $50,000 of foreign currency a year at a financial institution. In the past, wealthy citizens have circumvented the limit through foreign investments in real estate and other assets.
    https://www.cnbc.com/amp/2020/08/21/...al-flight.html

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  21. #587

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    Default Re: Bitcoin

    Some nice setups on the Bitcoin weekly candlestick chart suggesting a bull run over the next few months:


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  23. #588

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    Default Re: Bitcoin

    Quote Originally Posted by bmneveu View Post
    Some nice setups on the Bitcoin weekly candlestick chart suggesting a bull run over the next few months:

    BTC is starting to break down under the neckline again (~$10.4K range), which would invalidate the bullish inverted H&S setup. It might be looking up at the neckline as resistance now. Not looking good for crypto right now.

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