Blockchain Backer Tweets

  • by
No crazy reversal in prices today.

Yesterday, we saw the most volume for Bitcoin on Coinbase in nearly a year. Obviously, net selling.

Today, we had even more volume, setting a new yearly record. But, the buyers squeaked out a victory.

LUNA continues to crumble as TerraUSD (UST) is unable to regain its peg to USD all day, and now heading back down.
I sometimes search for what the most pain trade would be. Everyone believes a bear market now. Imagine this playing out, everyone chasing an inverse head and shoulders, yet it reverses at retrace levels.

Because, what is it really? An Inverse Head and Shoulders? Or... An ABC....
God bless my wife... She hasn't bought since July 2021.

She just said "I think I'm going to buy some XRP, sentiment is super down and prices are down."

I reply "Ok, but, you know, it's a crazy time right now."

She says, "I ain't scared."

πŸ˜‚Love her.
The Dow Jones pierced the low yesterday, but now, it's definitely a lower low.

Quite concerning for stocks.
CHAOS IN MARKETS as Bitcoin Price Chart QUICKLY Revisits Lows, XRP and DJI New Lows, Ethereum Holds
It's still going. This is going to be a big thing for politicians... man oh man.
Which has caused a massive surge in BTCUST (Not Bitcoin valued in dollars, but valued in the UST stablecoin).
Terra's UST stablecoin has lost its peg to USD, currently at $0.70 per $1.00.
That's the opposite of a monster green candle guys...

Markets continue in a straight line down. XRP takes out year+ lows at $0.50. ☹

BTC hits $30,400, putting Michael Saylor's Bitcoin bag in the negative.
DRASTIC MOVES ON BITCOIN PRICE CHART, Altcoin Market Follows, Ethereum Reaches Level, Eyes on Stocks
Skipped my normal morning routine to get a video out as quickly as possible. It's 28-minutes long, and exporting now. Hoping it'll be up within a half an hour.
Bitcoin closes the week below the 100-week moving average.

Both previous times led to capitulation to 200-week moving average in 2014 and 2018.

Today's chart has many differences from those two times, and those two times were very similar to each other.

Big dive in tomorrow!
3) At the same time, it is still holding all of its lows. These are merely lines. But, might as well show what history has done with them.
2) At the same time, it is piercing it's 100-week moving average. We only have two reference points for when this has happened, and it wasn't pretty for the Bitcoin bulls.

There is still a little over 24-hours till the week ends. So, Bitcoin needs a quick recovery to avoid it.
1) With Bitcoin piercing lower, a couple of observations to notice.

It's officially at the bottom of it's parallel channel from the last year and a half.
Not a bad way to finish the week with a ramp up in the DJI in the final hour, recovering most of the days losses, closing -96. I’ll take it.
@CryptoCriminal5 πŸ‘€πŸ‘€πŸ‘€πŸ‘€πŸ‘€πŸ€žπŸ»πŸ€žπŸ»πŸ€žπŸ»πŸ€žπŸ»πŸ€žπŸ»πŸ€žπŸ»
LIVING ON THE EDGE Markets Balance on Support for Bitcoin Price Chart, Altcoin Market and DJI
Waiting for these markets to open up before doing anything. πŸ˜‚πŸ€ž
Load More