Mr H Posted May 10, 2022 Share Posted May 10, 2022 2 hours ago, DaleP said: Well if crypto winter started in October, now could be about the base.... The top looks like it was May. Normally you retrace from the ATH to the 78.6 fib level so we probably go down to around 14kish which is kinda confirmed as this is also the average cost of production currently for a btc, and commodities usually osciliate around this point. Don't think we will get there until next Jan-Feb though if history is anything to go by. Will be a long step down. Could possibly get some sort of rally going into the mid-term elections in the meantime - depends how bad inflation and economy gets in the meanwhile! 1 Quote Link to comment Share on other sites More sharing options...
DaleP Posted May 10, 2022 Share Posted May 10, 2022 7 minutes ago, Mr H said: The top looks like it was May. Normally you retrace from the ATH to the 78.6 fib level so we probably go down to around 14kish which is kinda confirmed as this is also the average cost of production currently for a btc, and commodities usually osciliate around this point. Don't think we will get there until next Jan-Feb though if history is anything to go by. Will be a long step down. Could possibly get some sort of rally going into the mid-term elections in the meantime - depends how bad inflation and economy gets in the meanwhile! arrrghh lol Heaven for shorting. 14Kish wow....bargain. Quote Link to comment Share on other sites More sharing options...
Mr H Posted May 10, 2022 Share Posted May 10, 2022 1 minute ago, DaleP said: arrrghh lol Heaven for shorting. 14Kish wow....bargain. It may well be, but no one will want to buy it when it's at 14k or wherever it ends up except the institutions of course...... 1 Quote Link to comment Share on other sites More sharing options...
DaleP Posted May 10, 2022 Share Posted May 10, 2022 Just now, Mr H said: It may well be, but no one will want to buy it when it's at 14k or wherever it ends up except the institutions of course...... Of course, buy high kickcs in. Quote Link to comment Share on other sites More sharing options...
Mr H Posted May 11, 2022 Share Posted May 11, 2022 Think we can safely say that the Fed and the Banksters won't allow any decentralized stable coins any time soon! After what they did to Terra. Sets up nicely Problem->reaction->solution to CBDCs. Quote Link to comment Share on other sites More sharing options...
DaleP Posted May 11, 2022 Share Posted May 11, 2022 Something happened to Terra? I haven't been following up as it has been boring..... Quote Link to comment Share on other sites More sharing options...
spideysensei Posted May 11, 2022 Share Posted May 11, 2022 23 hours ago, Mr H said: The top looks like it was May. Normally you retrace from the ATH to the 78.6 fib level so we probably go down to around 14kish which is kinda confirmed as this is also the average cost of production currently for a btc, and commodities usually osciliate around this point. Don't think we will get there until next Jan-Feb though if history is anything to go by. Will be a long step down. Could possibly get some sort of rally going into the mid-term elections in the meantime - depends how bad inflation and economy gets in the meanwhile! 14 seems fair. I make the pattern completion target around 16500, so more or less the same. I'm not sure we're using fibs from the same place though, not that it matters a huge deal. I've drawn from the march 2020 lows, and it reaches our target at the 50% retrace. The goldilocks zone, as it were. Doesn't have to stop there of course, but if we continue down to that point i'd expect a nice tradeable bounce there. Quote Link to comment Share on other sites More sharing options...
spideysensei Posted May 11, 2022 Share Posted May 11, 2022 (edited) Maybe 0.001% of hopium left in me that this is a huge bear trap to make people sell. Btc at critical support. Edited May 11, 2022 by spideysensei Quote Link to comment Share on other sites More sharing options...
Mr H Posted May 11, 2022 Share Posted May 11, 2022 1 hour ago, DaleP said: Something happened to Terra? I haven't been following up as it has been boring..... Yeah they went after UST, UST depegged, Kwon initially sold off his BTC collateral to try and save it - then in the end let the algo take over, so essentially had to print Luna tokens to try and repeg UST - so Luna tanked about 90% in a day. And probably has to go lower until parity. Brutal day for the Lunatics. 1 Quote Link to comment Share on other sites More sharing options...
Mr H Posted May 11, 2022 Share Posted May 11, 2022 Citadel and Blackrock allegedly. Quote Link to comment Share on other sites More sharing options...
DaleP Posted May 11, 2022 Share Posted May 11, 2022 1 hour ago, Mr H said: Yeah they went after UST, UST depegged, Kwon initially sold off his BTC collateral to try and save it - then in the end let the algo take over, so essentially had to print Luna tokens to try and repeg UST - so Luna tanked about 90% in a day. And probably has to go lower until parity. Brutal day for the Lunatics. I reckon Luna will survive. It has a good reputation and was doing so well. This tweet/rumour about Alameda to bail out UST.... why would they help competitor's coin? Granted that he's got money and he probably has a backing from other powerfuls in the background but I thought Sam's main interest is his FTX and SOL. https://www.coingecko.com/buzz/ust-depegged-terra-s-biggest-test Quote Link to comment Share on other sites More sharing options...
DaleP Posted May 12, 2022 Share Posted May 12, 2022 Wow it was $15 yesterday, to day it's mere 13 cents. Talk about fast moving. Quote Link to comment Share on other sites More sharing options...
Mr H Posted May 12, 2022 Share Posted May 12, 2022 Seen spreads of up to 100% on different exchanges. good arb opportunities if quick......... Quote Link to comment Share on other sites More sharing options...
DaleP Posted May 12, 2022 Share Posted May 12, 2022 Mere 4 cents now. It might be worth converting dusts to Luna...... never know. Quote Link to comment Share on other sites More sharing options...
DaleP Posted May 12, 2022 Share Posted May 12, 2022 Crikey! There is a guy on shreddit who lost $900M, many liquidations..... There are so many suicide threads and fellow traders rush to comfort them. Now the rumour is CB bankruptcy. Crypto apocalyse day. Quote Link to comment Share on other sites More sharing options...
spideysensei Posted May 12, 2022 Share Posted May 12, 2022 Just now, DaleP said: Crikey! There is a guy on shreddit who lost $900M, many liquidations..... There are so many suicide threads and fellow traders rush to comfort them. Now the rumour is CB bankruptcy. Crypto apocalyse day. That's a buy then lol. I could easily see a little relief rally here before going lower. 1 Quote Link to comment Share on other sites More sharing options...
DaleP Posted May 12, 2022 Share Posted May 12, 2022 45 minutes ago, spideysensei said: That's a buy then lol. I could easily see a little relief rally here before going lower. Trouble is, I think it's been suspended from multiple large CEXs. If it did V-shape recovery even to $1, that's 100x But people are saying LUNA keeps on printing so devalued...... Quote Link to comment Share on other sites More sharing options...
Mr H Posted May 13, 2022 Share Posted May 13, 2022 8 hours ago, DaleP said: Trouble is, I think it's been suspended from multiple large CEXs. If it did V-shape recovery even to $1, that's 100x But people are saying LUNA keeps on printing so devalued...... Yes that's the function of luna, it's printing trillions to repeg UST. Network being suspended multiple times trying to find solution...... Quote Link to comment Share on other sites More sharing options...
Mr H Posted May 13, 2022 Share Posted May 13, 2022 9 hours ago, spideysensei said: That's a buy then lol. I could easily see a little relief rally here before going lower. Yeah, relief rally target 34-38k. Can see the narrative. Youtubers say this is the bottom, market makers pump the price, everyone goes long, then vroooom rekt back down step by step to 21k support then below.... most likely......... Quote Link to comment Share on other sites More sharing options...
Mr H Posted May 13, 2022 Share Posted May 13, 2022 (edited) As much as I hate it, the only thing that looks genuinely bullish at the moment is the USD even gold turned bearish, my target 1500-1600 range...... EDIT, sp Edited May 13, 2022 by Mr H 1 Quote Link to comment Share on other sites More sharing options...
truepositive Posted May 13, 2022 Share Posted May 13, 2022 The big boys started meddling but that might be a good sign? Quote Link to comment Share on other sites More sharing options...
Fluke Posted May 13, 2022 Share Posted May 13, 2022 Silvers low at the moment might be a good idea to start buying? 1 Quote Link to comment Share on other sites More sharing options...
Edgewood Posted May 13, 2022 Share Posted May 13, 2022 It's insane to think that back in 2002 silver was 3 pounds an ounce. As for whether it is a good investment now...... I suggest you buy ounce coins to enjoy, you could do a tour of the world mix and match and all that......something few people can do with gold coins, you won't lose anything.....and if you can enjoy investment and make it a hobby all the better. 3 Quote Link to comment Share on other sites More sharing options...
Fluke Posted May 13, 2022 Share Posted May 13, 2022 45 minutes ago, Edgewood said: It's insane to think that back in 2002 silver was 3 pounds an ounce. As for whether it is a good investment now...... I suggest you buy ounce coins to enjoy, you could do a tour of the world mix and match and all that......something few people can do with gold coins, you won't lose anything.....and if you can enjoy investment and make it a hobby all the better. I am somewhat of a stacker myself :) I am currently looking into their physical 10oz rounds at the moment. Do you know why it's hard to get hold of fractional coinage? There was an abundance a couple of years ago, but didn't think there would be a demand for fractional silver. ? ALso wished I would have purchased some more platinum. 1 Quote Link to comment Share on other sites More sharing options...
Edgewood Posted May 13, 2022 Share Posted May 13, 2022 (edited) On 6/26/2021 at 8:06 PM, oddsnsods said: The coin to buy right now would be TFuel or Theta. Not sure it will boom with current market, but you could double your money easy within the next week, that is the hype right now with their main net 3.0 launch & has dropped below 40cents. If it doesnt moon like it did a few weeks back then you might have to hold for a few months. https://coinmarketcap.com/currencies/theta-network/ Edited May 13, 2022 by Edgewood Quote Link to comment Share on other sites More sharing options...
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