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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#25065795 - 03/15/18 01:10 PM (5 years, 10 months ago) |
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The crypto space remains under pressure and threatening to take out the February lows. From the standpoint of someone who got in at very low levels, there is nothing particularly appetizing about holding through the current tape. Disciplined investors and traders who have been sitting on massive profits should have taken some of those profits off of the table by now. Maintaining long term exposure to the asset class is fine, but one ought to recognize the difference between maintaining long term exposure versus the expectation of near term gains, and allocate their resources accordingly.
We may indeed see an upside move before too long as sellers exhaust themselves in the short term, but expectations should be kept in check. There are always stretches of impressive upside even amidst the most brutal bear markets. Because of the extreme volatility in this space, that upside can remain attractive to nimble traders. I see the majors (BTC & ETH) setting up for very wide trading ranges that could persist for several months, perhaps even years; speculating at $5000-$12000 BTC and $400-$900 ETH. I almost laugh at calling these "trading ranges", as they encompass moves of better than 100%, but such is the world of crypto. What I'm really getting at here is that we are more or less in the middle of those theoretical ranges, where I would expect a protracted battle of price consolidation in aggregate.
As such, choppy sideways to continued downside action seems to be what the near to intermediate term future will bring. I have been ringing the register since late December, took a quick swing trade with some fresh capital on the February swoon that worked out marginally well (booked ~35% profits on ETH but didn't sell the XMR that I bought @ $182 which has now nearly round-tripped). As someone who has been actively trading for over 15 years, the best I would reasonably hope for through the balance of 2018 is range bound trading. For some traders, that can be enough, as "range bound" in crypto can still lead to outsized moves within a short period of time. But for me the easy money has been made and I will only want to rebuild positions after a longer period of consolidation that shows evidence of a strong base having been built as the market continues to mature.
Recall the age old lesson that history often repeats itself, and pull up a chart of BTC that spans the summer of 2013 through early 2017. A case could be made that we are finding ourselves in a scenario that echos April of 2014, where we suffered a ~50% pullback followed by years of consolidation (and even deeper downside). Ultimately, that period of time resolved itself in an impressively profitable way, but these things take time and we just aren't there yet.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Tipote
petty crook and transvestite


Registered: 10/28/11
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#25085593 - 03/23/18 05:36 PM (5 years, 10 months ago) |
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I'm bearish short term on BTC. Potential for $6k again maybe. I made some good money on the clear downtrend though, I kind of hope it continues down.
I like ICX, just missed a buy in order just before the spike. Hopefully when it corrects I can get me some more.
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War is Peace, Freedom is Slavery, Ignorance is Strength
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geokills
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] 2
#25138410 - 04/14/18 01:05 PM (5 years, 9 months ago) |
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It sure would be nice to see things taking off, but I'm not running to fund my accounts (granted I maintain significant existing long term exposure). Off the cuff, this looks like a good old fashioned short squeeze. Whether it turns into sustainable upside is anyone's guess. I would need to see a move above $9000 to have increasing confidence in a reversal of the prevailing downtrend, as presently BTC is still printing lower highs.

The volume on last week's pop is encouraging, however it's hardly surprising given the increasing level of short interest we saw building up into it, as especially high margined shorts can create a cascade of forced liquidations that squeezes price higher with great velocity as soon as price breaks against them. No doubt there was some piling in under the expectation that the February lows would be broken.
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mycoprog
Modular Heretic



Registered: 01/12/06
Posts: 797
Loc: N. America
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Stonehenge]
#25148314 - 04/18/18 02:32 PM (5 years, 9 months ago) |
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PatrickKn


Registered: 07/10/11
Posts: 20,562
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: mycoprog]
#25161732 - 04/24/18 07:06 AM (5 years, 9 months ago) |
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I sold all my crypto at the end of February, just bought back in a couple days ago. This will be my first trade outside of Ethereum.
This is the play I'm making right now, bought into DGD at .417 Eth for 4 Ethereum, I have a stop loss set to sell all at .4 Ethereum. Anyone have opinions? I'm using Bollinger bands and RSI set to a 2 hour period for my analysis of it. My sell plan is to start scaling out at the .48, .50 and .54 marks.
My first thought is that I may have bought into it during too much long term volatility in a downtrend for the coin?
Edited by PatrickKn (04/24/18 09:36 AM)
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: SirShroomsAlott] 1
#25304435 - 07/02/18 12:42 PM (5 years, 6 months ago) |
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All Aboard 
The €25 NEO I bought this week is now €31 NEO, +24%
The whole first page of Coingecko is Up, we might get a shortterm rise out of the markets before it falls on its ass again.
After a period of

Looks like the markets are

again! 
Guys, forcast! How far is this rise gonna go?
-------------------- Omnicyclion.org higher knowledge starts here
Edited by Asante (07/02/18 12:47 PM)
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Lophosaurus] 1
#25331614 - 07/17/18 01:34 PM (5 years, 6 months ago) |
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Were I actively trading, I would've been buying last night (the post I made early this morning was in fact one I had disseminated to a crypto trading channel last night). Hard to buy on the pop now though, as we are still mired in the congestion of the "I want my money back" traders. The continued above average volume and move above the prior short term ceiling at $6.8K BTC is encouraging, but if you zoom out and take into view the New Year's peak and subsequent drawdown, we are probably getting close to the center of what will ultimately turn into a big bowl in the chart, following along the lines of the suggestion I made several months ago when we first blew off the top and I posted this image:

Volatility is to be the norm for some time as this market works to mature, so I don't think there is any need to chase pops. What zigs will ultimately zag, and there will be considerable noise allowing for better entries into longer term positions. Avoid the shiny object trade, and exercise discipline in your entries, unless of course you are strictly trading momentum, but in that event you had better hold a tight leash and keep your eyes keenly fixed. I have considerably better luck trading momentum with instruments like NFLX off of its earnings miss this morning, for a 80% intraday gain using September $340 call options bought at the open .
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Middleman

Registered: 07/11/99
Posts: 8,399
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: SirShroomsAlott]
#25388006 - 08/14/18 02:37 PM (5 years, 5 months ago) |
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Is it true that the Nano is harder to use than the Trezor?
If ICO cash-outs are the only reason, ETH will definitely recover. Isn't microsoft involved with ETH? I saw a pic of the founder and he looks like a Shroomery member.

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Middleman

Registered: 07/11/99
Posts: 8,399
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Lophosaurus]
#25408099 - 08/23/18 05:16 PM (5 years, 5 months ago) |
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I refuse to believe that I missed the party. Rich lizard people are manipulating this market for kicks. It will spike again.

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SirShroomsAlott
Howdy



Registered: 05/15/14
Posts: 6,945
Loc: United States
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Asante]
#25503151 - 10/01/18 11:27 AM (5 years, 3 months ago) |
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possibility of a big stellar lumens (XLM) breakout coming soon, it's been forming a symmetric triangle/falling wedge pattern for months and on both the daily and weekly chart suggests it broke it's downtrend and came back to retest it before going somewhat back up. It has had at least 3 (I believe 3) previous instances where it traded and formed the same exact pattern and all of those times it broke out to the upside.
Not experienced though so idk if there's something I'm missing lol I can at least hope it'll have a fairly big rise since I've admitted before it's my biggest bag by far, of course there's always the chance bitcoin will dump and ruin the party.

 Wasn't sure if I should of drawn the trendlines from the wicks or from the tops of the candles so I did both and they both seem to show it's above the triangle.
The weekly chart on the otherhand shows it broke through and didn't depending on how you draw the trendlines but again I don't know which one is the correct way to judge that


If you have the time to look at it I'm curious what your thoughts are geokills even though I remember you saying you're done actively trading in this current shitshow for the time being, seems to be fairly obvious you're the most experienced/knowledgable in the thread so I'd def like to hear what you think lol
Edited by SirShroomsAlott (10/01/18 12:11 PM)
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geokills
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Registered: 05/08/01
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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Kittlebean]
#26082768 - 06/30/19 03:33 PM (4 years, 6 months ago) |
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Quote:
Kittlebean said: Geo, I have been trying to learn more when it comes to analysis and had a look at the charts to mark out when it occurred to see if I could identify it but am unable to upload pictures at the moment.
Just wondering what the psychology behind a measured move is? Why does it happen and how reliable is it as a trading strategy?

A measured move is just really simple math applied to a chart pattern, in this case a bull flag (the same can be applied for a downside target in the case of a bear flag). In the above BTC example, there was a breakout followed by sideways consolidation, which then broke out again. In truth, there were three breakouts in the above chart, but as you'll find if you trade for any appreciable amount of time, reading charts is at times as much a creative art as it is a science.
This isn't a textbook example (this is really move of a stair-step pattern), but because bitcoin tends to have more exaggerated moves, I extrapolated and used the initial base at around $4000 as the bottom of the "flagpole", which then chopped around in sideways consolidation at around ~$8,000. That's a +$4,000 difference. A subsequent breakout from the $8,000 level leads to a measured move of $8,000 (breakout level) + $4,000 (base level) = $12,000 (primary target). You can see that there is plenty of fudge room to choose your own levels, and you can come up with targets below or above $12K depending. But given the velocity of the move I happened to witness, I did some quick addition and decided it was appropriate to take profits based on this generalized thesis.
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: NothingsChanged]
#26191377 - 09/16/19 10:16 AM (4 years, 4 months ago) |
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Yeah anyone with an IQ to man a computer who pays marginal attention to the vid knows the answers.
They're not looking for rocket scientists. Kept my Stellar Lumen, poured the rest into Tezos, shot some XLM to Binance to park minimal amounts at the automated airdrop currencies.
No point in not taking part in automated airdrops, even if its nickles and dimes.
I sold my Stratis at $20, now they're $0.31, OUCH!
If you have 2 Stratis ($0.62) in your binance account you qualify for the automatic Stratis airdrops every month or week. There are several currencies at Binance that do this. No point in not being in on that.
Theres a Dutch saying "If you don't honor the small, you are not worthy of the big." This is how the universe works so if you see a dime on the floor, pick it up on principle alone. the universe is watching.
-------------------- Omnicyclion.org higher knowledge starts here
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Gypsy Boy
Redeemer



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Re: Cryptocurrency Big Dogs: Bitcoin (BTC), Ethereum (ETH) and Tezos (XTZ) [Re: Gypsy Boy]
#26392193 - 12/20/19 09:57 AM (4 years, 1 month ago) |
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills] 1
#26477633 - 02/09/20 08:50 PM (3 years, 11 months ago) |
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The upvote function must not have existed when you posted your day as a deadhead thread back in 2005...hmm I guess I knew this it definitely wasn't around when I first joined
+1 
The wheel is an all time favourite of mine... 
On topic...Tezos broke $2.60 USD today


This is pretty significant, Tezos was hovering at this price for a very short while when the betanet launched back in July 2018, but there is good reason to believe the upwards momentum here is far higher than it was during betanet launch when there was a basically non-existent ecosystem... there's been 3 successful upgrades to the protocol via governance mechanism, daily trading volume is over $100 million USD, tezos is on coinbase and binance, and both offer staking services, there are several good projects being built on tezos, confirmed real estate security token offerings that are expected to be launched in the next few months...the foundation has a serious amount of money to continue funding the project, and the funds have to be used to advance the tezos ecosystem..like 600 million dollars or something
in contrast, the ethereum foundation is running out of money and has even stopped providing funding to some developers that were working on certain things that I guess were decided, are not a priority...ethereum 2.0 is expected to take a long time, and while it might be a huge success, tezos already offers everything that ethereum is wanting to offer in the future
I bought into eth at $7 and it kinda feels like the early days of ETH to me...
The price may possibly go berserk fellas.
I am so glad I doubled my tezos holdings last year...
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: sh4d0ws]
#26483042 - 02/13/20 02:38 AM (3 years, 11 months ago) |
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If you own tezos, check out your address on the tzkt explorer
what's your cat look like??
This is a random account I just thought the cat was great with the sombrero
https://tzkt.io/tz1Ykmc29JfQvWnjWRPYTPUZBLW4gwa9YKUD/operations
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deadwk
00101011


Registered: 06/17/09
Posts: 8,890
Loc: Canada, eh?
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: LogicaL Chaos] 1
#26485744 - 02/14/20 04:46 PM (3 years, 11 months ago) |
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Pretty excited to be mining Ethereum right now lol!

Personally speaking I don't think BTC will be going that far. I dont' think there's really much use to it, it doesn't really do well as "cash" which was the original intention according to satoshi's whitepaper, and it's mostly being used as a store of value right now.
Even as a store of value, there's much better alternatives out there, like DAI which actually is a store of value. I only think BTC can be a "store of value" until it can be reliably used to store value without much risk of losing value, which unfortunately due to mass manipulation of markets, and general unregulated nature of exchanges + BTC whales, the price is incredibly volatile.
Edited by deadwk (02/14/20 04:48 PM)
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eLeSDenes
Mycelium Expander




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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: deadwk] 1
#26485779 - 02/14/20 05:09 PM (3 years, 11 months ago) |
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Nice farm, i run an antminer s9 for fun and to heat my garage grow room:DQuote:
deadwk said: Pretty excited to be mining Ethereum right now lol!

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eLeSDenes
Mycelium Expander




Registered: 05/25/11
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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Gypsy Boy]
#26501469 - 02/24/20 12:35 PM (3 years, 10 months ago) |
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Yes of course, but the price is always moving up and down and especially when the volume is very low, a 1-2k btc sell-off could drop the price by a few percent. If you look at the historical prices in bull market phases, you can see that a lot of times there were instances when the price dropped 40%. Just look at this for reference:
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Shadowman
Stranger

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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: Gypsy Boy] 2
#26541150 - 03/17/20 04:40 PM (3 years, 10 months ago) |
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Looks like we are between anxiety and denial. I just dont see how this doesnt make us enter a recession. Thinks could get really really bad, the worst hasnt hit America or the UK yet. I doubt we will contain this much, we didnt really learn from Italy. Spain looks like its numbers are about to go parabolic
Although this is awful, and equally bad to say, these markets will bring opportunities to buy cheap and make good return. It is just a patience game, I cannot see how this could be the bottom. I am setting bids for Ethereum for $50.. will be a steal at that price
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LogicaL Chaos
Ascension Energy & Alien UFOs




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Re: Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects [Re: geokills]
#26578221 - 04/04/20 10:02 PM (3 years, 9 months ago) |
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My Current Portfolio:

Not much but Im pretty happy where Im at right now with my mini-investments.
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