Cryptocurrency

[NATEizKING]

Yeah, not looking great short term. What's your take on 2022?

Crypto is the wild west, I never know what to expect with the volatility. I felt like BTC at 30k was a good buy because it consolidated there for awhile (~2mo) and triple bottomed. At that point it's either break up or break down. Waiting to see the level it consolidates at this time.

 

[JustAnotherTimeline]

Crypto is the wild west, I never know what to expect with the volatility. I felt like BTC at 30k was a good buy because it consolidated there for awhile (~2mo) and triple bottomed. At that point it's either break up or break down. Waiting to see the level it consolidates at this time.

If I had to guess 40k is the new 30k. But mainly I just HODL. I do sell some if we are way overextended.

 

[besserheimerphat]

The Jetsons has until 2062. Still seems like a stretch, lol!

George Jetson was born in August 2022, meaning his parents are conceiving him this month.

Was George Jetson Born in 2022?

The birth years of cartoon characters are subject to some speculation, but 2022 is a sound estimate in George Jetson's case.

www.snopes.com

 

[Dr.bannedman]

Crypto is the wild west, I never know what to expect with the volatility. I felt like BTC at 30k was a good buy because it consolidated there for awhile (~2mo) and triple bottomed. At that point it's either break up or break down. Waiting to see the level it consolidates at this time.

43k - 45k??

 

[JustAnotherTimeline]

43k - 45k??

You looking for an entry?

 

[NATEizKING]

43k - 45k??

This is the weekly chart for when it bounced around 30k, so I would look for something similar on the weekly to know when it is bottom. 2 weeks ago candle low was 42.3k so if history is repeating I would guess your range is close.

 

[JustAnotherTimeline]

You looking for an entry?

Do you set limit orders? It's the best way to get a wick down.

 

[Dr.bannedman]

Do you set limit orders? It's the best way to get a wick down.

yes. looking to get filled over night

 

[Gunnerclone]

This is the weekly chart for when it bounced around 30k, so I would look for something similar on the weekly to know when it is bottom. 2 weeks ago candle low was 42.3k so if history is repeating I would guess your range is close.

View attachment 93048

I don’t believe in crypto charts

 

[JustAnotherTimeline]

I don’t believe in crypto charts

Do you believe in any TA?

 

[Malone]

TA is mental masturbation and a way for Youtube dorks to get views. Charts fail to account for a lot of things and the Youtube guys that rely on them should openly admit that the only way to understand patterns is in retrospect.

For example, spoofing and leveraged trading have been around for a while but not at the high degree they're being used now. History can't account for those things to accurately predict using a chart comparing 2017 to today.

Institutions also don't tend to use platforms to trade BTC and eth, so as not to cause ripples in price. That's a newish phenomenon as institutional investors have entered into the space.

 

[JustAnotherTimeline]

TA is mental masturbation and a way for Youtube dorks to get views. Charts fail to account for a lot of things and the Youtube guys that rely on them should openly admit that the only way to understand patterns is in retrospect.

For example, spoofing and leveraged trading have been around for a while but not at the high degree they're being used now. History can't account for those things to accurately predict using a chart comparing 2017 to today.

Institutions also don't tend to use platforms to trade BTC and eth, so as not to cause ripples in price. That's a newish phenomenon as institutional investors have entered into the space.

Agree. Was just curious if @Gunnerclone was speaking only of crypto or all TA. I am skeptical of all of it. Maybe people smarter then me can use it. But considering the vast majority of traders lose....

 

[Dr.bannedman]

I’m not really a TA guy. Just mostly look for support levels on BTC and ETH. For day trading I just play breakout using momentum and level 2. It’s a fun hobby. It think once I get to 25k account I can start having some real fun.

 

[NATEizKING]

TA is mental masturbation and a way for Youtube dorks to get views. Charts fail to account for a lot of things and the Youtube guys that rely on them should openly admit that the only way to understand patterns is in retrospect.

For example, spoofing and leveraged trading have been around for a while but not at the high degree they're being used now. History can't account for those things to accurately predict using a chart comparing 2017 to today.

Institutions also don't tend to use platforms to trade BTC and eth, so as not to cause ripples in price. That's a newish phenomenon as institutional investors have entered into the space.

I'm a long holder mostly, TA can at least give you a decent buy point rather than just going balls to the wall.

 

[discydisc]

Crypto taking a beating today...

 

[SCNCY]

This is the weekly chart for when it bounced around 30k, so I would look for something similar on the weekly to know when it is bottom. 2 weeks ago candle low was 42.3k so if history is repeating I would guess your range is close.

View attachment 93048

Where do you get a chart like that? Do you TD Ameritrade or a similar platform?

 

[NATEizKING]

Where do you get a chart like that? Do you TD Ameritrade or a similar platform?

Webull has the best charts IMO, my favorite buy indicator is a dip below the bottom BOLL.

They have mobile and desktop apps.

Same BTC chart with BOLL would show you it was a good spot.

 

[Dr.bannedman]

Have another 500 in account waiting for 43k BTC

 

[NATEizKING]

Have another 500 in account waiting for 43k BTC

High 43k is here, the thing about these consolidation ranges though is it can break either way.

 

[BryceC]

Ultimately, I agree with you. If consumers don't care, then web 3.0 is dead in the water. If things aren't that much better, also probably dead in the water. But my money is on the end user experience being a significant enough upgrade for us to see it come to fruition in our lifetimes(also a millennial).

My argument has never been that consumers won't care, it's that they won't care enough. The simple truth is most of the time organizations are paid for by a very small part of the people using them, especially if we're talking about something like a cooperative thing, or CycloneFanatic for a close to home example.

I've yet to see how the massive computing power required by Web 3.0 will be paid for if it's decentralized. The whole reason Web 2.0 works, if imperfectly, is that the infrastructure is all paid for and maintained by the big web companies. I don't like a lot of their behavior but the internet has undeniably chugged along for decades here simply because they have a profit motive to keep it going.