This seems like a big thing. http://www.cityam.com/289695/coinbase-announces-new-deal-let-you-pay-your-uber-crypto
A lot more access to bet the downside this year, massive drops scared away a lot of the people who didn't have any business trading it.
I'm most intrigued by those (not so much here, but more blogs and vlogs) trying to predict crypto runs based off stock market trends. I just don't think they apply. I watched a long one about 2 weeks ago saying that $6k was the ultimate line for BTC. If it went below it, it'd go to $4k or lower. Or it could bounce there and moon. I just can't grasp that logic in the crytpo market the way it stands today. I absolutely get long term investing in crypto but trying to play the market daily or weekly makes my head hurt.
I don't follow any blogs or vlogs but I do try and find different technical indicators that work well for daily crypto trading from stock technical indicators. And overall they're pretty accurate. Now I don't project anything long term but it's pretty simple to use these to find cryptos for short term 15-20% gains.
I'd be really interested if you could break down your next play. Like post before you do it, why you're doing it, then we can all watch it play out. I'm genuinely intrigued by it.
On my work PC but I'll post a screenshot later of the charts I'm looking at. Well today I started tracking Ethereum since it broke the lower bound downwards of the wave trend oscillator. I'll now wait for it to break that lower bound upwards and that's when I'll buy in. The last time it broke the lower bound downwards was March 8th at $698. It continued it's downward trend for the following month to April 6th where it bottomed out at $361 and broke the lower bound upwards. It then rose to $800 by May 4th and has been slowing creeping downwards since. I expect to see a similar track here where it will continue with it's price falling for a couple more weeks where it will bottom out and gain at least 30-50% back over the following month or two. Really with the current market the volatility is the only way to make money. Cryptos are nice because unlike stocks where a volatile month might be a 10-15% swing, for crypto it's 30-60%.
I doubt he told the person that's what it was for. I do mortgages. If someone calls me today and says they want to take $400k out for a family vacation, daughter's wedding, pay off credit cards, and do some home improvements, he's getting his money. I'm really not in a position to tell them what to do with their money. If it was an unsecured loan, then yea that LO was an idiot.
USD Don't worry yet. 285 is our lower resistance line. It keeps hitting it and bounces back up. That's a good sign that it's consolidating right now before a break out upwards.
Letting it ride. There's no reason for the sharp downturn from a technical standpoint. Daily Wavetrend still shows the moving average below the trend line and above the lower boundary which is exactly what we want. And the upside is still enormous. The upper boundary is at 320 so if it breaks through that we could see $450+