my 2-cents
i don't even know what the closing times for Bitcoin is since it trades 24/7.'
yeah its a 24 hour casino , LOL! But, the new day starts at 8pm est . As an example to see the anatomy for TODAY's candle, just look at the chart at about 7:55pm est today, it will close at 8pm, then a NEW candle (a new day if u will ) will form.
for the weekly chart , it ends every Saturday at 8pm
to see the closing the high, low for each day, just toggle your cursor over the candle in question adn the information will be provided, or you can just look to the right of the chart as price is on the vertical axis
https://www.investing.com/crypto/bitcoin/chart
again each day goes from 8 pm to 8 pm
a good idea with any asset class is to occasionally look at the higher time frames (weekly, monthly...a more patient trader can certainly trade off the anatomy of the weekly candles)-- if u just look at the daily its kinida like being in the forest with thousands of tall trees around, the higher time frame gives u greater perspective--kinda like looking down from a helicopter. we saw that on the monthly, it was parabolic not stable, see post #16: April's candle wsa a serious red flag and that this time it may be different in the short term, and it was --it did NOT rebound immeditely straight up, recency bias failed there. And the candles had alerted of the dangers ---again, always a good idea to look at higher time frames whatver the asset class be it btc, oil, qqq...
i posted this on my first post in this thread;
'consolidation and re-assses is how id look at it from a trading lens.'
for ME, any entry for a longer term hold given its downtreding/basing is via a bullish candle on the WEEKLY NOT the daily chart , but thats just me. Once i see a green light entry on the weekly then i'd enter via the lower time frame the daily, waiting on a bullish entry
here's the weekly (same site from above, just click 1W, click candlestick icon, click widescreen (far right icon)
https://www.investing.com/crypto/bitcoin/chart
last week's- inside candle. THIS week's (whcih closes Sat at 8 pm) so far? ANOTHER inside candle, its actually inside last week's candle-- coiling .
'Does it need to break the wedge on a closing basis either daily or weekly or break it intraday?'
great question
15 days now inside the mother candle (may 19) , LOL!!
if it breaches the high or low of that mother candle its very significant and lieky will be come with quite a bit of volume and rise in volatility; everyone is waiting for this . Has to be closing price , has to be. Lets say Intraday pierces it to the downside trggers stops, volatility rises , actually may go way below then lets say buying comes in and closes back into the mother candle -- that's bullish, its a hammer pattern . if that was to happen on the weekly (the higher time frame)-- very bullish. Patience and buy. Can play it on the daily tho to, but again given its basing/downtrending the higher time frame is more significant . I have a bias to certain set-ups that i look for . Now if it breaks to the updie on the daily? again, pick up in volume, likely a long green candle on the lower time frames. My style for breakouts is I wait for a re-test of the break out area and enter on a bullish candle, the only probem with this is it may not come back to re-test , if it doesnt, i dont care tho..there's always trades available , i dont chase a trade
https://www.foxbusiness.com/markets/trump-bitcoin-a-scam-us-dollar-should-reign
C'mon Trump, let us live
C'mon Trump, let us live
I am thinking the fact they were caught apparently is a plus.
If gov'ts know that they can catch these cracker jack criminals, might care a bit less about cryptos.
I read, I dont know if its true, that they used Coinbase to cash out.
My question is how do you cash out large amounts of it?--- even then its not really anonymous. FBI can track you down
Yeah if you wanna just send it around no problem, but how do you cash out anonymously?
For sports bettors, sportsbooks are an option, but those are not for large amounts
No jargon really, just maybe my crappy writing.
Imagine like the stock market, when a lot of new money comes in, the market goes up.
(not necessarily all the stocks but as a whole they go up)
When a lot of money leaves, the market (as a whole) goes down
So Bitcoin, similar.
When a shitload of new money comes in, it will (should) go up.
When money is leaving it should go down
And people who short it, most certainly know this and they short when money is leaving, not entering.
(you wanna pee with a hurricane, not into it, lol)
Imagine like the stock market, when a lot of new money comes in, the market goes up.
(not necessarily all the stocks but as a whole they go up)
When a lot of money leaves, the market (as a whole) goes down
So Bitcoin, similar.
When a shitload of new money comes in, it will (should) go up.
When money is leaving it should go down
And people who short it, most certainly know this and they short when money is leaving, not entering.
(you wanna pee with a hurricane, not into it, lol)
Yea it could be 20k but it won’t be guns blazing .
Its gonna go sideways for about 3 years just like it did the last 3 times then you will have the next halving and go parabolic again .
Rinse/Repeat .
Then it will drop from 180ishk down to around 60ish
This run went almost exactly like I thought besides the fact that a lot more shit coins made the cut then I thought .
But there were a bunch of shit coins that did not make new ATHs but I was kinda surprised how many did .
But very few of them from the 2017 era outperformed Bitcoin .
Some did such as ETH.
I think the next cycle is gonna really separate the winners from the losers .
The shit coin flush is going to be a lot more drastic next cycle and the next crypto bull run is going to be a lot more top heavy .
Bitcoins dominance won’t necessarily be less then it was this cycle but there will be much fewer coins sharing the overall crypto market cap.
The top 25 coins will be the vast majority of the crypto space .
Not saying there won’t be a few exceptions to the rule just speaking in general
But there were a bunch of shit coins that did not make new ATHs but I was kinda surprised how many did .
But very few of them from the 2017 era outperformed Bitcoin .
Some did such as ETH.
I think the next cycle is gonna really separate the winners from the losers .
The shit coin flush is going to be a lot more drastic next cycle and the next crypto bull run is going to be a lot more top heavy .
Bitcoins dominance won’t necessarily be less then it was this cycle but there will be much fewer coins sharing the overall crypto market cap.
The top 25 coins will be the vast majority of the crypto space .
Not saying there won’t be a few exceptions to the rule just speaking in general
