Computer Science, blockchain

Like most people I put my money in the bank. It use to draw interest there. Not anymore. Instead, inflation is reducing the worth of my savings.

I see lots of promotions to invest in precious metals and crypto. But I have not enough in the bank to risk on either. Especially since I don't understand either well enough to know which way to go

I'm in a position like most people reading this. What can I do? Before my money is worth nothing.
 
We started putting money in Vanguard many years ago...a mutual type fund...diverse. It has performed very well for us, multiplied our investment many times over. When the stock market goes down our worth is less, of course; but overall, the market has steadily increased and served us well.
 
The future.s a matter of intellect dwarfing force, as a matter of self preservation and free will, IMHO.

Jomo
 
Like most people I put my money in the bank. It use to draw interest there. Not anymore. Instead, inflation is reducing the worth of my savings.

I see lots of promotions to invest in precious metals and crypto. But I have not enough in the bank to risk on either. Especially since I don't understand either well enough to know which way to go

I'm in a position like most people reading this. What can I do? Before my money is worth nothing.

Have you spoken to investment professionals?
 
BTC (Bitcoin) just made a strong move to the upside on high volume. This means that altcoins are also most likely going to be bullish, so it's a good time to invest in either Bitcoin or any altcoin that mirrored the market dominant BTC's break through its level of resistance after approximately one month's worth of consolidating in a paralell triangle pattern. Altcoins usually have a better ROI, but they also pose a greater risk should things get bearish. If you do invest in an altcoin, be sure to monitor BTC even though you don't hold a position in it, because the overall market will typically follow its behavior. If you do invest in the next 24 hours, be sure to monitor BTC's (and your invested asset's chart, if not BTC) for throwbacks and/or use a stop limit order to create a stop loss just below the resistance level that just saw a breakout (you can see this level as the upper dotted white line above the previous trend -- the consolidation -- in my chart). You can also see my current position on the chart as the blue line that has the profit calculations on it. I just opened the position today because my technical analysis suggested a breakout...lo and behold, I was spot on. Below, in orange, is my stop loss with profit loss calculations should it be triggered. I'll be moving that up closer to the top dotted white line after I post this so that, even if my stop loss is triggered, I will make a profit.

Below is my quick technical analysis on Bitcoin for the 4 hour chart (every candle represents four hours of trades). Happy trading! I'm trying to revive this thread. Anyone else into crypto or trading? I trade equities (stocks) as well.

EDIT: In the chart, it's actually a bearish divergence. Not bullish.

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Threadcromancy!

Crypto is a scam to part suckers from their money. For evidence: FTX and Sam Bankman Friedegg.

Neo-snake oil
Cyber-carpetbagging.

Sure, some folks have hit it big, that's their money, you willing to risk yours?

Some while back, when bitcoin was $3-5 a coin, I was using it to buy magic mushrooms on the "dark web". Shoulda kept just one!

It's pie in the sky. Like the stock market, it's wildly beneficial to a few folks, the rest of us have real work to do.
 
Crypto is a scam to part suckers from their money. For evidence: FTX and Sam Bankman Friedegg.

Neo-snake oil
Cyber-carpetbagging.
You had better take that tone of voice outside, sir. We use inside voices for blockchain discussion. This is a fallacy.

The vast majority of investors for any crypto asset is the retail investor; the average Joe. So, naturally, they take the bag and hand it to someone mightier on the regular. In other worse, most people do lose in crypto.

But those who win, win it all. Reread my previous post. Do I sound like I just got lucky? Nay!

I studied fundamental and technical analysis for several years as a layperson using just the internet in order to reap the many rewards that I have.

I spend every single day of my life analyzing charts. Your average retail investor will simply do a buy and hold strategy with some dollar-cost averaging, WITH ZERO STOP LOSS, and call it a day.

It's no wonder they lose bigly. They don't know what they are doing. Sometimes I'm so stingy that my stop loss is my entry point for a long or short position and if any market movements close the position, I'm done. My losses? ZERO.

Investing requires PATIENCE, not IMPULSE. You need to run a marathon, not a sprint. Don't get me wrong, I've done and won on plenty of day trades. Espeically on coin ICO's, which is the crypto version of an IPO.

We were just in a bear market and I'm up 71% on the year. I'm a notorious short seller and this has been my climate.

@Kaveman You're entitled to your opinion, but just remember that it's just an opinion. Mine is just another option people might choose to uphold. =-D
 
You had better take that tone of voice outside, sir. We use inside voices for blockchain discussion. This is a fallacy.

The vast majority of investors for any crypto asset is the retail investor; the average Joe. So, naturally, they take the bag and hand it to someone mightier on the regular. In other worse, most people do lose in crypto.

But those who win, win it all. Reread my previous post. Do I sound like I just got lucky? Nay!

I studied fundamental and technical analysis for several years as a layperson using just the internet in order to reap the many rewards that I have.

I spend every single day of my life analyzing charts. Your average retail investor will simply do a buy and hold strategy with some dollar-cost averaging, WITH ZERO STOP LOSS, and call it a day.

It's no wonder they lose bigly. They don't know what they are doing. Sometimes I'm so stingy that my stop loss is my entry point for a long or short position and if any market movements close the position, I'm done. My losses? ZERO.

Investing requires PATIENCE, not IMPULSE. You need to run a marathon, not a sprint. Don't get me wrong, I've done and won on plenty of day trades. Espeically on coin ICO's, which is the crypto version of an IPO.

We were just in a bear market and I'm up 71% on the year. I'm a notorious short seller and this has been my climate.

@Kaveman You're entitled to your opinion, but just remember that it's just an opinion. Mine is just another option people might choose to uphold. =-D
Hey, enjoy your snake oil! Some folk use CBD for pain, I think it's a mass placebo effect. I've personally known a few folks that have hit big on the crypto lotto. But I feel it's mostly that, a lottery, which is to say, a tax upon the ignorant.

Like I said, if I'd of kept just a few of the coin in my wallet, I'd be sitting pretty right now. But that's not what I bought it for to begin with, I bought it to spend on drugs, to be blunt.

Speaking of, you can't smoke bitcoin, it's a bitch to roll and it won't stay lit...

Also, the majority of that was gobbledygook to me bud. May as well have been in hieroglyphics. Sounds like stocks speak, a language I've never had an interest in learning.

Just don't forget, humans love shiny rocks, and we're still trading with them.
 
Yeah, the last time I tried to roll Bitcoin, I put an eighth into a Dutch cone. That's 0.350 BTC. It had been dried in the hottest suns of Mexico and yet I still struggled to keep it lit...until I used the Bitcoin on the Lightning network. I put about 0.33 BTC worth of dab oil onto a burner with a torch and I was lit, son. It was that butane "hash network" oil. C'mon, that was clever. Give it to ya boy.
 
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I think I would just buy stock in Milton Bradley so I have true vested interest in Monopoly money...
You would need to buy the float (the remaining amount of stock issued by Milton Bradley, which is under the ticker HAS for Hasbro) in order to secure a genuine monopoly and that would cost a fortune. That would be an assault against diversification of investment capital as your entire portfolio would be dictated by the popularity of Milton Bradley's family friendly game arsenal. That would be a high risk move. If you want to go all in, then buy government bonds. They are easily the lowest risk asset class. HAS is actually looking pretty bearish right now, at first glance. Perhaps headed to a new yearly low and unlikely to break resistance at 72.79.

If all you want is a cut of the monopoly money profits, then you need to back that pretend money against a legitimate foreign currency on the spot market in the form of a Monopoly Funny Money ETF (Exchange-Traded Fund). Better yet, turn each denomination of monopoly money into an NFT and only produce a limited amount with an interactive game in the metaverse that promotes wanton gambling by DeFi degenerates. That's the ticket.

HAS is at support, so we'll see.
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Here's my latest technical analysis for BTC (Bitcoin) for the 8H chart (where each candle represents 8 hours of price action AKA trading). This chart will be irrelevant if BTC makes an upside breakout through the new ATH (all-time high), or if BTC makes a downside breakout through the pink solid ascending (sometimes called "rising") wedge pattern. Overall, Bitcoin looks very bullish. My suggestions is that anyone looking to buy should do so ONLY if the price breaks through the $69,063 level OR above the support for the wedge pattern (solid pink line); the price may pass the ATH, but remain in the wedge. Do not buy unless it breaks through both. However, you must wait until at least one candle/bar closes above that level.

Once buying in, DO NOT assume that the price will continue upwards! You MUST set a stop loss in the form of a "Stop Limit" order so that you can appropriately mange risk. Here's how it works...

  1. The investor sets the stop price where they want the order to trigger.
  2. The investor sets the limit price where they would like a trade execution.
  3. If the cryptocurrency reaches the specified trigger price, the limit order activates and executes if the price is at or better than the price specified by the investor.
There is some risk when using a stop limit order, because there is a very small chance that your order might not fill. In order to ensure that it fills, I highly recommend that you enter the same price for both your "stop" and "limit" values. This will force your exchange to immediately sell the asset as soon as it hits the desired price.

I suggest that, for those who are looking to buy in once the price breaks through the new ATH, and through the pink ascending wedge's support level (upper line), that you set your stop limit order for anywhere between 10-20% below the $69,063 mark and, more specifically, below the resistance level for the ascending wedge pattern (top solid pink line) at the breakout point, after breaking through (price must break through BOTH levels). This will prevent you from exiting the trade prematurely should there be a throwback (when selling pressure moves the price back below the ATH/wedge support breakout level), and should the price then throwback again, back up through the ATH level/wedge support, and then surge upwards hugely, allowing for a worthwhile ROI (return on investment).

There can be multiple throwbacks, where the price goes above and below the breakout level repeatedly, before either surging upwards bullishly or downwards bearishly on high volume. This happens because, while you're buying in at the ATH level, the bears have sell orders at the same price level! There can be quite a bit of back and forth, up and down, before the price takes its ultimate course in one direction in a strong fashion.

You don't want those relatively small fluctuations to take you out of the trade (where you could potentially miss out on huge gains), so set your stop limit order for 10-20% below the breakout level. Should the price drop while you aren't watching the charts, once it hits your Stop Limit order, you will immediately exit the trade at an acceptable loss relative to however much risk you took on, based on what % you set the stop limit order below the entry point.

This all probably sounds like a shit ton of technical mumbo jumbo, but it's actually quite straight forward and easy to understand/perform once you do a day or two of research on the terminology! If anyone is disoriented, but excited about the prospect of buying Bitcoin, but perhaps just need more guidance, DO NOT hesitate to reach out to me via direct message! I'd be happy to better explain everything to you and make some more charts, customized to specifically explain whatever you're interested in doing/buying, whether you want to hold for years or for days! Most new retail investors go into cryptocurrency trading without a basic understand of risk management, and as a result, they end up losing much or all of their money!

I am NOT giving investment advice in the sense that I'll tell you how much money to invest or how much to risk. That's entirely up to you. However, I can give you a complete understanding of how the order system works so that you can buy without worrying that you have to watch the price action nonstop or you'll lose everything overnight. Don't be that guy! I will happily teach anyone about stop losses and better explain this VERY RARE, and UNIQUE opportunity to buy crypto. While I cannot be certain, I have a VERY good feeling about Bitcoin, and in turn, a large number of other crypto assets right now.

(If you would rather invest in another crypto asset, like Ethereum, Shiba Inu, Avalanche, etc., all of the same knowledge will apply. I would simply have to perform a totally different technical analysis (TA) on whichever asset piques your interest! Take care everyone! For anyone who actually read this entire post, go buy yourself a cookie and pat yourself on the back! You deserve it, champ!)

DISCLAIMER: You take my suggestions at your own risk. I am not a fortune teller, but I have studied technical analysis and fundamental analysis for years! My beliefs are based on huge amounts of legitimate data and on an advanced understanding of chart patterns! Cryptocurrency is a HIGHLY volatile asset! Do not invest unless you FULLY accept the possibility of losing a percentage, or even all, of your investment capital. =-D

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Since my last post in this thread, 3 years ago, bit-coin and crypto took a big dive.

Since bidenomics my savings has lost 30% of its purchasing power. WTF?

Until things get better, economically, I'm in the same camp with Kaveman. Thank you.
 
@gf beranek I'm not sure what you mean about Bitcoin "[taking] a big dive." It hit a NEW all-time high (highest it's EVER been) on Tuesday and there's a good possibility that, if it breaks out of this rising wedge pattern, there could be a huge bullish rally (price might soar). There are some crypto assets that aren't doing well, but that's no different than the stock market, where some stocks perform better than others; but Bitcoin isn't one of the ones behaving poorly. Overall, right now, Bitcoin is performing at its best ever. Not sure where you're getting that negative information, Gerry.

Regardless, it's your decision whether or not to invest and if you don't feel enthusiastic about Bitcoin, or any crypto asset for that matter, than you definitely shouldn't waste your money. Not trying to push anyone to do something they aren't wholeheartedly interested in doing. Just sharing my excitement with the forum and offering to share my knowledge and insights with fellow members out of pure altruism.

Short term possibilities for 90 minute chart...

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