Posted by DigiNomad on 29th of Jul 2024 at 09:59 am
COIN, MSTR, IBIT, BTC, ETH. SOL all have roughly the same look
where they are nearing the top of their trading range. Always seems
like it's going to break this time, but still in the range until
we're not (I count A,B,C,D on BTC so far and going in for the E
touch now)
Interestingly SMCI hanging on the edge of the cliff at the
very very bottom of the trading range. I thought the crypto
adjacent names could be what saves IWM from otherwise certain doom
associated with not being in the pole position for passive
flows..but .maybe even a BTC move higher isn't strong enough to
save IWM from it's structural weakness. We'll see.
Posted by DigiNomad on 29th of Jul 2024 at 10:57 am
I wouldn't be surprised although we didn't quite achieve the top
of the range yet. DJT speech on Saturday I'm sure has the
admin state scrambling to find a way to punish all the deplorables
in crypto land today. When they figure out they're still one
of the largest holders, their short term strategy would seem kinda
of obvious (same same as Germany recently....but we have much much
more than they did). BUT....despite openly hitting the bid
day after day, Germany didn't get a lot of bang for their buck.
BTC levitated again literally the day after they stopped
(they only stopped because they ran out). Crypto is the enemy
of any Gov that relies on their printing presses (pretty much every
Gov these days)
Posted by DigiNomad on 29th of Jul 2024 at 11:09 am
I was kinda surprised we didn't hear about Janet having a
medical emergency after they floated the idea of no taxation on
movements between USD and BTC (In other words, they would make BTC
a potentially effective place to hide from currency dilution,
whereas, they currently trap you into the dilution process by
taxing the movement).
Then DJT says he will fire Gary Gensler on day 1....and a
crowd that actually skews liberal otherwise absolutely erupted.
My old buddies in the admin state are losing their minds
right about now. Lots of levers they can pull when threatened like
this.
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COIN, MSTR, IBIT, BTC, ETH.
Posted by DigiNomad on 29th of Jul 2024 at 09:59 am
COIN, MSTR, IBIT, BTC, ETH. SOL all have roughly the same look where they are nearing the top of their trading range. Always seems like it's going to break this time, but still in the range until we're not (I count A,B,C,D on BTC so far and going in for the E touch now)
Interestingly SMCI hanging on the edge of the cliff at the very very bottom of the trading range. I thought the crypto adjacent names could be what saves IWM from otherwise certain doom associated with not being in the pole position for passive flows..but .maybe even a BTC move higher isn't strong enough to save IWM from it's structural weakness. We'll see.
Can BTC go from Green
Posted by mrrab079 on 29th of Jul 2024 at 10:31 am
Can BTC go from Green to Red today? maybe
I wouldn't be surprised although
Posted by DigiNomad on 29th of Jul 2024 at 10:57 am
I wouldn't be surprised although we didn't quite achieve the top of the range yet. DJT speech on Saturday I'm sure has the admin state scrambling to find a way to punish all the deplorables in crypto land today. When they figure out they're still one of the largest holders, their short term strategy would seem kinda of obvious (same same as Germany recently....but we have much much more than they did). BUT....despite openly hitting the bid day after day, Germany didn't get a lot of bang for their buck. BTC levitated again literally the day after they stopped (they only stopped because they ran out). Crypto is the enemy of any Gov that relies on their printing presses (pretty much every Gov these days)
I was kinda surprised we
Posted by DigiNomad on 29th of Jul 2024 at 11:09 am
I was kinda surprised we didn't hear about Janet having a medical emergency after they floated the idea of no taxation on movements between USD and BTC (In other words, they would make BTC a potentially effective place to hide from currency dilution, whereas, they currently trap you into the dilution process by taxing the movement).
Then DJT says he will fire Gary Gensler on day 1....and a crowd that actually skews liberal otherwise absolutely erupted. My old buddies in the admin state are losing their minds right about now. Lots of levers they can pull when threatened like this.