Who's going in on CryptoCurrencies? XRP - Bitcoin

SmokeTree

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21.5k broken. Next key level is 23.4k. Not enough volume to break that or even get there currently. Now the wait to see if 21.5 is going to be support or if it's still too weak. This looks like a setup for a drop to me, will know probably in the next 18 hours or so. Not really interested in crypto though these days.
 

GNews

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21.5k broken. Next key level is 23.4k. Not enough volume to break that or even get there currently. Now the wait to see if 21.5 is going to be support or if it's still too weak. This looks like a setup for a drop to me, will know probably in the next 18 hours or so. Not really interested in crypto though these days.
The formula you study = the play of the smart money The news is a part of the way they make it happen. Really is intriguing to watch this month play out. I did well on SHIB!
 

SmokeTree

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The news is a part of the way they make it happen.
What I'm doing is not a formula. I'm studying the true supply/demand of a resource, in this case it's called BTC. I'm modeling my style off of skilled traders in the past such as Richard Wyckoff (https://en.wikipedia.org/wiki/Richard_Wyckoff). I've never said news was useless, I just said it's not worth my time to follow when there's way too much to study on the chart. The only time I use news is to look for a fundamental catalyst AFTER the chart shows an abnormal volume spike. I trade about 5 -10 days out and always have stops set to protect me. If the bottom falls out at any time, I have alerts firing and automated trades bailing me out. I also keep risk/reward super low. If someone comes to me with a news article, show me on the chart. If the news is good/bad enough, you'll see it right then, if not, it's just general info that even the small timers aren't reacting to.

BTC currently 22k. Volume is getting super weak Failing the test at 22k will plummet this back to test if 21.5 is true support or will test 20.7 then head to 19.3 I wouldn't be trading right here, I'd be watching. This is the point to short a breakdown most of the time. It's much harder to breakout to a higher level than to just crash for a bit to a lower level and I'm just looking for confirmation because I'm only going to trade confirmation.
 

SmokeTree

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BTC testing 23k, looking like shorts may be covering so maybe kind of a squeeze type situation. This thing is gonna fall hard when it does, the whole up move is not normal/real. 23.4 is a diamond wall, can volume break it? Hmm thinking that may be the point or close that it runs out of gas and gravity takes over.
 

GNews

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BTC testing 23k, looking like shorts may be covering so maybe kind of a squeeze type situation. This thing is gonna fall hard when it does, the whole up move is not normal/real. 23.4 is a diamond wall, can volume break it? Hmm thinking that may be the point or close that it runs out of gas and gravity takes over.

I dont think it's done yet....... It's the weekend. Drops usually happen on weekdays.

I think there's some other news to be had. Genesis doesn't even seem to be shaking people honestly. At least not the format which Genesis bankruptcy has been presented thus far

And i've been telling you.. this is not natural... the whole thing is designed..... Politicians got rich with SBF.. his family has ties to everything. Rich getting richer, is all this is about.
 
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GNews

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@SmokeTree

what's the chances USDT could crash?
 

CCarter

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How to Artificially Inflate Volume 101:


"They are doing that since this year. I don't know why. I don't even see any sense in it. Only maybe some audit stuff. It started between Coinbase and Circle. Since last week they added Binance too. Same amount, Circle -> Coinbase, back, Treasury -> Binance, back."​

vsiVTHD.gif

If you guys are going to play the buttcoin game, at least don't keep your funds within these or ANY exchanges.

The writing is on the wall. How many collapses until the one you got your stuff in collapses?
 

GNews

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@CCarter

why come to a post consistently if you don't plan to contribute something progressive and constructive? Is your time not valuable?

Your arguments have been losing now for 3 years (April 2020 when the post started).

Maybe it's time to give up. Crypto is still going and everybody's not a fraud but frauds to exist.

Madoff have you this way about the stock market?

At this point looks like you're in the proverbial 'dog chasing its tail' syndrome

@SmokeTree

At this point, i feel like it's hard to tell what's going on. I feel another Spike is due before a drop based on chart habits but based on real-time facts of companies coming to crypto, i'm confused on whey they will drop 'explosive news' and a few billions into cryptos.

The main thing, there were lots of great & easy to obtain gains the last few weeks.
 

CCarter

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constructive
It's is constructive. Constructive means "servicing a useful purpose" - helping people understand. Anyone that's got money in Coinbase and these operations probably would like to know what's going on. Logical.

You are confused and think "constructive" means "Good News Only" - that's would be misleading. If you only post good news then you're an ostrich with its head in the sand. You'll eventually get caught with your pants down.

Your arguments have been losing now for 3 years

You've got selective memory. I've been stating crypto is useless and a game of musical chairs, in this thread, even when it was going up and up and up before the massive crash in Nov 2021.

When it's going up I talk shit, when it's going down I talk shit. The shit talking doesn't stop, because crypto is useless to the masses.

You guys still haven't found a single reason in 13+ years where crypto is going to get adopted by the masses because it's #1 not faster than cash and #2 not safe than credit cards.

You guys have never answered those 2 dilemmas. And then crashes come and people get wiped, and they might turn around and say "hey I got this ZAP coin from BuSo and got screwed."

There always needs to be a voice of reason saying "this is hype, a pump and dump scam, filled with fraud". At least they can't say they weren't warned.

Instagram was launched a year after bitcoin, and THAT has mass adoption. Twitter was launched 3 years before bitcoin and that's got mass adoption. The iPhone was launched in 2007, that's got a mass adoption as a tech. Apple Watch was launched in 2015 and that's got mass adoption. ChatGPT / Dall-E was launched within the last year and those 2 have potential for more mass adoption than crypto, which still hasn't gotten it's act together.

So it has nothing to do with "time to adapt". It's simply useless for the masses.

Going back to Coinbase, Binance, and Circle - when these house of cards falls down, at least the people with funds in these exchanges were given a heads up here, constructively.
 

SmokeTree

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At this point, i feel like it's hard to tell what's going on.
The volume is building to break the 23.4 level. I think it's possible to break it this time because there has been strong tests on legit volume lately. If it doesn't it gets exhausted and falls back to lower support. I don't think about it much more than that. If unicorn volume comes and breaks it, that volume will need to continue for 23.4 to be considered strong support or it falls as hard and fast as it climbs. There will have to be a lot more than the business as usual trading to keep this over 23.4 and then to break 25k which is even stronger of a wall. A big move is going to happen here soon, I don't trade levels like this without a ton of confirmation. My opinion as of this second by looking at chart? Break likely but gonna fail well before 25k.
 

Breen

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If you guys are going to play the buttcoin game, at least don't keep your funds within these or ANY exchanges.

The writing is on the wall. How many collapses until the one you got your stuff in collapses?

While I disagree with you about the value of Bitcoin, you are 100% correct about this, get your Bitcoin off of exchanges. Learn to safely self-custody. It's not hard to do. I taught a 65 year old, non-technical woman how to do it. If she can do it, anybody can. And I especially wouldn't keep it on Binance, after watching that guy dodge questions on CNBC.
 

GNews

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While I disagree with you about the value of Bitcoin, you are 100% correct about this, get your Bitcoin off of exchanges. Learn to safely self-custody. It's not hard to do. I taught a 65 year old, non-technical woman how to do it. If she can do it, anybody can. And I especially wouldn't keep it on Binance, after watching that guy dodge questions on CNBC.

Binance is going nowhere. Do you know how many governments are tied in and they just concluded a deal with the New Superpower, Brazil...................

I think CZ's been udder clear about '1 for 1' backing.............. Nothing to hide and he's backed up every deal done.