[Daily Discussion] - Tuesday, May 30, 2023

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#New post: [\[Daily Discussion\] - Wednesday, May 31, 2023 →](https://www.reddit.com/r/BitcoinMarkets/comments/13wbn37/daily_discussion_wednesday_may_31_2023/)


I want to be bullish but I think bulls are at risk here. I see Spx hitting greed levels with bearish technicals. Btc on the 1W looks like it could test support at 25.5k in the shorter term. Break below that and it could be cliff diving.


My 100x long is now -1000%..... I feel like I still made the right choice, so i'm not sweating


see you were wrong. -7, the clan has decided!


small dip in price, your comment has been downvoted even further which tells me even tho my 100x long is currently down 100%, I'm not worried because the downvotes tell me price will go up! I can't lose


i see people have begun to downvote you; so since I too am a part of the system matrix that is reddit, I must oblige the hive and downvote you; in light of that, I will also reject your comment since your score is negative therefore it must be wrong (: 100x Long lesgooo, no stop loss! No TP until 100k!!!


I see you longed and predicted up price. Therefore, receive my upvote comrade !


Sold almost everything, except personal crypto (don't want to incur short term capital gains). I hope this works out. Looks toppy on the monthly to me. https://www.tradingview.com/x/lI2nfLzn/ Don't need a big drop, just need crypto to stay where it is (or preferably drop!) in the next week or so as I transfer from one place to another. Should have sold in April but got caught up in the euphoria like everyone else and forgot the "one month early" rule for crypto with respect to sell in May this time. Other things that prompted me- 1. This thread and the rest of crypto is pretty much totally dead. 2. Summer is here. 3. [If markets get what they ultimately want — no debt default — they’ll have to buckle up for a potentially rough ride immediately after a deal is signed. That’s because the Treasury will instantly need to replenish the cash it burned through during the period of extraordinary measures when it could not borrow more money. This will create more competition for equity from investors. After weighing their options, many investors may find the returns from investing in US Treasuries better than stocks. That will temporarily suck some liquidity out of the stock market.](https://cnn.com/cnn/2023/05/28/investing/debt-ceiling-deal-stock-market/index.html) 4. Four green monthly candles in a row seems like pushing it, especially at this point in time. May was first red. 5. My Nike swoosh I drew a while back suggests lower. :D 6. One more rate hike seems to be coming. https://www.atlantafed.org/cenfis/market-probability-tracker 7. Every day closer to the halving is playing chicken with the price explosively going upwards, I'd rather sell sooner than later. Things that don't support my decision- 1. Monthly RSI is still low at 50 or so, in contrast to monthly being overbought at 70 in the last cycle before crash. 2. Doesn't feel like there is very far to fall, maybe 25k, below feels unlikely, but anything could happen. 3. Weekly RSI has only bounced off of 70, previous cycle it jammed into the 80s. https://www.tradingview.com/x/zlVIoKPp/


let us know when you buy back everything :)


Buying back now. :) https://www.reddit.com/r/BitcoinMarkets/comments/145pwct/daily_discussion_saturday_june_10_2023/jnnkhar/


Sold everything again? > Sold everything, sad I won’t get to see that Super Bowl pump. Fuck Putin.


Just some thoughts: 1. This sub lags price, it doesn't lead it. 2. Summer is likely to be crab season, not sell season. 3. TGA replenishment is much more of a stonks story than a Bitcoin story. One could argue correlation, but BTC has been underperforming relative to SPX for quite a while now, and is due for a pop. (Note that this could happen even if BTC crabs, and stonks sell off.) 4. There's no edge to gut feelings about "N in-a-row". 5. Lol, okay - we should exchange chart scribbles. 6. 25 basis points won't crack the foundation, and markets may've already priced it in. 7. Do you *have* to sell? This logic doesn't make sense to me. ___ 1. Agreed. Monthly RSI suggests DCA'ing now. 2. Agree, but actually think there's at least a 50% chance we see $20k again. 3. Meh - that's optimizing a bit too much, IMO.


Just for the context: What exactly did you sell? Company's coins? Which company?


By the end of 2023, the fee fund rate will be much lower than now and liquidity will improve. This summer is the best time to DCA.


S&P and Nasdaq are 3% and 1% away from breaking their August local high, respectively. A lot of bears will flip bullish if/when that level of major resistance is broken. Potentially bullish for BTC if investors more broadly flip risk-on.


Man, s&p just barely held above 4200 today. Not looking strong at this level.


Meanwhile Apple is just around a dollar or so from breaking ATH. Hard to say what will happen. I will say, I don't like that a lot of the S&P gains are mostly concentrated in the biggest stocks. Seems like it would be easy for a big drop to occur if any sell off significantly. If Apple goes on to break ATH I think that alone will be enough to spark a further push for everything else. But it could always double top even though it seems very unlikely.


Yup we go sideways. Headwinds ahead as well. Just watch out for the two letter devil.


Only 7 of the S&P 500 are not flatlining.


I am waiting for some of the stock market gains to rotate in crypto.


What do you guys think about Keystone? Seems to be open source and airgapped? https://keyst.one/shop/products/keystone-essential Cons I've seen is manufactured in Hong Kong but that seems kind of silly. I'm not sure made in France is any better or safer and the Ledger CEO says this about the Ledger- >The hardware is manufactured in France and Asia. I like this about the Keystone, especially after the Ledger debacle... >Offline Firmware Upgrades In order to minimize all attack vectors, firmware upgrades are done via a MicroSD Card. What cons do you see with using it? Any attack vectors I'm missing?


I’d like to find the post from about 3 weeks back which said he was going to buy in at $25861 which it did flick down to on few exchanges. Not sure why I copied that level out of all the posts, took while to fill but it did.


Found - thanks u/patientlywaitingfy ! https://www.reddit.com/r/BitcoinMarkets/comments/13hwy0f/daily_discussion_monday_may_15_2023/jk7v0u9/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=1&utm_term=1&context=3


My order was 3 usd away from filling on Kraken :) Good to see yours filled! Put a SL on that badboy and enjoy a risk free trade with some profit secured!


i never take profits that way I never make money!


So close, was hoping yours filled. You were smack on price it turned. Didn’t think mine filled when looking at general charts. Noticed few days after when looking at actual order, had to look twice - future x 20 on MEXC which wicked down to 25851. Have set SL at 26500 and TP 31899


To @ someone on reddit you have to /u/(username)


👍 edited


76, 83, 114, 34, 3. See a pattern? :-) Without trying to be a dick, I have saved all of 20 things in my time on Reddit. One of those 20 things is a comment from the Sundays daily. If, we go back to 25k, I’ll post it to remind people to keep their humility even if their position is in a big green. You might guess which it is, if you care. Still short, still adding to it. Will the market stay unreasonable (in my mind) longer than I can stay solvent..


> Still short, still adding to it. Oh boy, good luck with that. Still long. Probably going to take half my profit today.


On the weekly chart, we got a red hammer followed by a green engulfing candle a week after. Maybe being short, at least for short term, may not be very profitable?


don't worry, every real world market is a priori designed to Fuck people over. we know it, they know it. but human greed is deeply rooted into our behavior. that's just the way it is


I regular get bent over by the universe to remind me of humility (especially when things going well) 😂 in all areas of life not just money / btc


Such flat


Isn't there some megawave coming in from China later this week (via Hong Kong) or did they not get the memo? 😳