Cryptocurrency

[BlueSharp]

[jamesbrown]

Great news, Smegcoin is now less than $20k overpriced!

[DealorNoDeal]

Currently at just over 70% drawdown from the Nov ATH.

I wonder where it will finally end up in this ranking? (It was at #6 on 24 Jan)

[AtW]

"Bitcoin - The Capitulation
BTCUSD/M2SL 0.88 −0.06 −6.40%
without_worries 14 hours ago

Just a quick publication to answer the numerous messages. The are all along the same line, is $12k coming? Such and such said $6k etc.

This is ‘capitulation’, it is a good thing. (AtW's comment: ) The market needs to flush out those weak hands to move on. Once they are gone, it’s over. To help put the bearish sentiment into perspective, the above monthly chart is Bitcoin over the M2 money supply, which has seen a 40% increase in supply since the 2017 Bitcoin top.

1) February 2019 and March 2020 both found support on the 200-month simple moving average . Currently price action is testing the 300-month SMA .

2) Here is a jaw dropping statistic. Since the 40% increase in money supply, Bitcoin is currently priced at a value of $11k. And that’s ignoring all the inflation of the past 5.5 years.

3) Did you read no. 2? In the last 5.5 years Bitcoin is of less value. Isn’t that incredible? Now ask yourself if this bearish sentiment is reasonable?

Zooming in a little closer to the dollar weekly chart the 200-week (red) and 300-week moving averages in consideration of February 2019 and March 2020 dates, you can see more easily how fast price action is approaching extreme oversold conditions. Currently more oversold than those past two events. In fact this is the first time ever a ‘incredible buy’ signal has printed on the weekly chart. Is there an astroid heading towards the planet? This is sentiment right now.

...

If you’ve made it this far, here’s a cheery statistic: Bitcoin price action on the above M2 monthly chart has never closed below the 200-monthly SMA . A 30% moved is required to maintain that statistic. Assuming money supply does not change massively in the next 12 days (Who know what the FED will do next week!), the dollar chart must close at a minimum of $25k by June 30th. (AtW's comment: )

Keep calm, switch off the computer - will be a very different picture come the month end.

"

More tulip from the source - https://www.tradingview.com/chart/BT...-Capitulation/

[AtW]

Meanwhile 6 days earlier...

"Bitcoin to $42k in 17 days ??

Even I don’t believe this, not for a minute. However, facts of the chart are telling.. and its spooky. Mulder level spooky. Very simple reasoning:

1) The 26-day EMA (green line) crosses down the 50-day SMA (blue line).

2) Price action falls to the 200-week moving average.

3) That’s it. We’re call this the ‘cross down’."

Source: https://www.tradingview.com/chart/BT...2k-in-17-days/

So that's $42k in 11 days from now, say 1st of July?

[jamesbrown]

Poor old scootie, can't catch a break with his "trading" and has now resorted to selling his worthless "investment advice".

If you want to try it out, $100 to the above Paypal address gets you 45 days access. Be sure to identify your tradingview name. Give me time to add you if I don't respond right away.

https://www.tradingview.com/chart/KS...w-comment-form



Love the fake nonchalance too, like the first $100 isn't going to pay his rent next month.

If only he'd use his own forecasts as a contrarian indicator, he'd be rich by now.

[AtW]

So, that's now selling illegal financial advice

[agentzero]

Not anymore. Looks as if Trading View took a dim view of his financial advice:

Idea not available

We hid this idea because it violates one or more of our House Rules. Head back, or move along to the homepage to find a new way forward.

If Scooter_Scot was smart he would have sold his bitcoin a month or two ago and then waited for the inevitable crash, then rebought. It's worrying that he mentioned before that he had the majority of his investments in bitcoin, including his pension.

[AtW]

It's worrying that he mentioned before that he had the majority of his investments in bitcoin, including his pension.

Why is it worrying you?

[eek]

Why is it worrying you?

He may have to return to contracting - which could mean that he returned here