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@filbfilb 4 years, 5 months ago 912 views

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#Bitcoin update:

- Trapped in consolidation between $30 and $38k
- Lower highs and supply above c$38k
- Buying interest on the books £30-33k
- Meme consolidation triangle
- 20 wma @ $19.5k
- Accumulation VWAPs in the 20s
- underlying tether fud
- 61.8% retracement c. $22k

- 3 Day predator unconfirmed Orange candle

- Demand at low $30s was tested today and has since bounced & Coinbase led price on the drop

- Market structure is complex - Triangle is misleading

- Lots of orders stacked @ 30-33k.

- Market is fearful in the demand zone as shown by funding; i do not think we are ready to drop quite yet; Expecting longer consolidation.

- New Tether output has been on hold but new money came today

- Tether case request for 30 more days; could be indicative of consolidation

- Breakdown in price deeper than high $20s / lower $30s would IMO most likely require FUD induced event

- If stars align 20 WMA is catching up fast and will probably be resting in with the accumulation VWAPs, 61.8% retracement &d drives into big buy orders.

- Why did we stop @ $40k?
- Miners deep in profit vs. 654 average; time to tp
- SImilar response in other cycles

https://t.co/Iurd68NnZZ

1 Year HODL wave;

- Shows investors holding coins in the cycle dumping to TP.

https://t.co/wCWE23ifhu

MVRV Z Score and SOPR also showing extent of unrealized PL.

https://t.co/FIcsO7I4Cn

https://t.co/rE0THDXgS1

What this tells us is;

- MIners deep in relative profit
- Cyclical Hodlers de-risking
- Market behaviors largely representative of prior cycles.
- WIll be useful to look for dips (SOPR/BE Point)
- Will be useful looking for tops (miners and unrealized PL)

Im sitting on my hands for now, its actually clear to me; clear $38k & turn to support then let's talk bullish; keep it as resistance then Bitcoin is weak & we need to see volume divergences, etc indicating hidden accumulation & dodging FUD.

I welcome both a healthy consolidation establishing $30k as a floor & see any dip into the low-mid $20ks as a cyclical dip opportunity.

Im neutral for now and positioned as such.

Good luck.

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#Bitcoin #BTC - Break of lower channel support at around 16500-17000 shall take it to 1750-1800

Massive price erosion in cryptos a very likely outcome. This shall spill over to equities as well but not to same extent.

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1/ Everyone knows that time is money. In the digital realm, however, money is also intricately related to time. It has to

2/ Among other things, money solves a coordination problem. Trading a single good against others solves the combinatorial explosion of a barter economy. It is a scalability solution that allows coordination across large groups of people.

3/ The two basic forms of money are ledgers (made of information) and physical tokens (made of atoms). Physical tokens keep track of themselves. Ledgers need someone who is in charge.

4/ In the informational realm, only ledgers exist. And to make sure that transactions on a ledger are in order, a concept of time is required. In other words: Tokens are timeless, ledgers are not.

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CryptoWhale
@CryptoWhale

#BlackRock, the world’s largest asset manager with $7.81 trillion AUM, recently granted two of its funds the ability to invest in #Bitcoin futures.

Here's why I think BlackRock investing in Bitcoin futures is bearish, and could result in a major downturn in the coming months.

1) According to the new BlackRock SEC filings, it mentions the use of Bitcoin derivatives and other assets as part of its investment scheme. The futures will be cash-settled, and likely on the CME BTC exchange.

2) If BlackRock was bullish on Bitcoin, they would've directly bought it, but instead they are choosing to buy Future contracts. Why?

With Futures, they can either short or long. Considering BlackRock's historically bearish stance on BTC, It's quite clear they will be shorting.

3) Here's a short clip of BlackRock CEO Larry Fink bashing #Bitcoin, saying theres zero institutional demand, and calling it an ‘index of money laundering':

4) By investing in the Bitcoin futures market, it essentially allows them to gamble on its future price.

With their large cash size, BlackRock will be the largest player in this market. They can and will tank Bitcoin's price to avoid paying out. Banks have done it before...

Dan Held
@danheld

1/ Satoshi’s Vision™ is a silly endeavor, as it doesn’t matter what it was, we are where we are now. However, those pushing the “Bitcoin was first made for payments” narrative insist on cherry-picking sentences from the white paper and forum posts to champion their perspective.

2/ The following tweetstorm is a categorical repudiation of this tired narrative. Bitcoin was purpose-built to first be a Store of Value (SoV), a thread:

3/ How do we determine Satoshi’s intention? We need to look at his ideology, description of functionality/architecture, timing, and audience. Let's start with how Satoshi describes the problem Bitcoin solves. In his first public comms after the whitepaper, in the first paragraph:

4/ “The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.” - Satoshi

5/ He later expands on that Libertarian thought in his other writings:

“[with Bitcoin] we can win a major battle in the arms race and gain a new territory of freedom for several years.” — Satoshi Nakamoto

Dan Held
@danheld

1/ Don’t Fear Tether

Whenever Bitcoin has a bull run, naysayers try to cope with missing the boat by rationalizing why it will fail through FUD. Most of these are completely unsubstantiated, but annoyingly persist as negative narratives Bitcoin must fight against.

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