Bitcoin Thread

Voicy

Honorary Master
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And another all time high for the FED's reverse repo... No big deal right?

View attachment 1094373

So yesterday's new All Time High Reverse Repo rate hit 841 Billion USD. Impressive right? More like adorable:

Today's $991 Billion just put that to shame.

1625084287036.png

@Speedster , this is indeed a BTC thread, which is exactly why I'm giving updates on exactly WHY the entire crypto environment has been tanking. Whales are liquidating en masse. There is big **** coming soon and holding crypto is going to be a good way of avoiding some if not most of it...
 

Voicy

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Care to explain why the Reverse Repo rate matters?

What Speedster said. It's all about the volume.

It's what determines interest rates and how financial institutions put up collateral to access cash for funding. It also indicates when there's a problem with cashflow / collateral...and when there's this big an issue, the whales are pulling out of all of their holdings, those holdings being Tesla shares, Amazon, etc. as well as crypto assets. That's why Bitcoin was tanking, out of no fault of its own.

When this happened, the entire S&P 500 map below was red:


1625140023742.png
(This is today's map, so don't stress it too much)

If you have 15mins, this dude explains the system best:

 

NarrowBandFtw

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gotta love the ridiculous headlines lately, in the space of less than a day:
- GBTC unlock will drive price down
- GBTC unlock will drive price up
- institutional demand on the up (Apple rumour of buying over $2bil)
- institutional demand evaporates
- on-chain outflow from exchanges, bullish
- on-chain inflow to exchanges, bearish
- BTC is the best inflation hedge
- BTC dropping because inflation figures are worse than expected
- China mining ban is good
- China mining ban is bad

starting to appreciate more and more why people look towards technical analysis, because fundamentals mean sweet f-all when so much contradiction flows out from the "news"
 

bromster

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But fundamentals are the primary driver for DCA and retail investors, many of whom participate in the thread.
I think all the fundamentals now are suppressing the price ahead of B Word tomorrow night. Starts at 16h00 SAST iirc.

I'm expecting BTC to either make or break 30k on Thursday. If it lingers too long at 30k, we're just eroding the support. I think people are tired of 30k

Either we drop to the 618 at 25k, or we try again at 33k. Honestly, testing 25k is the most bullish scenario for S2F and 4yr cycle theory I think.
 

John Tempus

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But fundamentals are the primary driver for DCA and retail investors, many of whom participate in the thread.
I think all the fundamentals now are suppressing the price ahead of B Word tomorrow night. Starts at 16h00 SAST iirc.

I'm expecting BTC to either make or break 30k on Thursday. If it lingers too long at 30k, we're just eroding the support. I think people are tired of 30k

Either we drop to the 618 at 25k, or we try again at 33k. Honestly, testing 25k is the most bullish scenario for S2F and 4yr cycle theory I think.

Doing DCA with fundamentals is like doing DCA with an 8ball.

DCA is mainly done using Technicals. Technicals sure is not a perfect guarantee but it is by far more practical than using fundamentals that is for the most part just vomited out by publications on both sides of the coin such as pointed out by the previous poster quite accurately.

Funny that you pointed out using fib which is another form of reasonable Technical to use to determine entry points and sizing for DCA.
 

bromster

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618 is the next target down. Soon, all of the self-proclaimed crypto experts on YouTube will no doubt be using this next target as justification for Bitcoin at 300k by December.

I'm using this flip flop YouTube narrative as a basis for the statement on fundamental trading, but I agree that's it's really just (poor) TA in disguise.

Fairly sure that 90% of people watching these channels couldn't even plot a trend line, but better believe they'll be buying if Bitboy tells them to
 

John Tempus

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618 is the next target down. Soon, all of the self-proclaimed crypto experts on YouTube will no doubt be using this next target as justification for Bitcoin at 300k by December.

I'm using this flip flop YouTube narrative as a basis for the statement on fundamental trading, but I agree that's it's really just (poor) TA in disguise.

Fairly sure that 90% of people watching these channels couldn't even plot a trend line, but better believe they'll be buying if Bitboy tells them to

LOL

Not sure how bitboy got his "status" on youtube but based on what I have seen just watching bits and pieces it looks like he is really making a fortune from referrals and other non actual trading.

Id love to know what exactly got him to the level of "crypto expert" on youtube he apparently sit at today.
 

bromster

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He just got in early. Doesn't matter if most of these guys got rekt in earlier cycles, people still idolise them
 

PseuDohNom

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Jul 28, 2020
Messages
228
Nice guys! This will be the week that counts. If we can close Sunday above the 20W SMA, it's on. If not, we pull back to the 21W EMA and try again.

If we drop back down to the 21W EMA, I'm buying.

US infrastructure bill will be the decider.
 
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