[Daily Discussion] – Wednesday, January 05, 2022

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50 thoughts on “[Daily Discussion] – Wednesday, January 05, 2022”

  1. Two things:

    – The corn often drops when the FED does basically anything (Gold does the same).

    – There’s a risk the FED will surprise negatively (e.g., early balance sheet runoff). Why? Because expectation is rate liftoff / balance sheet runoff is around July / August and this might lead to a subsequent crash and this is the big no-no for the US midterms. However, this is assuming they somehow know the market throws a tantrum at that time , and I don’t think anyone knows that, much less them. Then again, the fact that they don’t know doesn’t mean they know that they don’t know.

    Nuff said.

  2. If i’m reading the chart right…this level has had the most volume transacted going all the way back to Nov ’20 which saw the acceleration of the bull. Pretty impressive.

  3. It’s funny watching the $dxy chart invert btc down to the second (or maybe it’s btc inverting $dxy, either way)

  4. Posted this same chart yesterday and got downvoted. Fractals are only worth so much, but you gotta admit the character of the chart right now is eerily similar to when we broke support in June. That’s going to happen again unless the character of the market meaningfully changes. Clench yourselves for a stop run and new multi-week range…

    https://s3.tradingview.com/snapshots/y/yKA4qCWl.png

    I will loosen my grip on short-term bearishness if and only if we pop through confluent resistance in the green circle like we did in Dec. Otherwise, we’ve failed to make a higher high and support is less likely to hold now than it was a couple weeks ago.

    https://s3.tradingview.com/snapshots/w/WCPIECGe.png

  5. Everyone wants to just be put out of their misery, which ever colour of dildo

  6. I’m long spot, short perps, don’t know what else to do right now. Funding has been continually positive on my exchange so I’m at least slowly gaining something from funding. I honestly just don’t know what else to do

  7. We’re on our 8th weekly red candle in a row… has that ever happened in Bitcoins history??
    One candle was a barely green doji in the middle of the run but close enough to red to count.

    Not sure 8 in a row has happened before

    Edit to say the app i looked at had it wrong.. not 8 at all. Still complete shite though

  8. Thoughts on a high leverage long at just above $45,500 with SL $44950?

    Edit: would have been liquidated instantly

  9. You would think at this point a rocket off 45.5 would be in order. But no, we’ll bleed back down again I’m sure.

  10. https://imgur.com/a/fo0ZTkz

    It’s happening. H&S of doom. And we are under the 200 DMA. lol. God have mercy.

  11. The only thing green on my tradingview watchlist is Pfizer, lol.

    A friend of mine also noted that people have stopped saying “when the pandemic is over”…

  12. Not touching my spot BTC but I did sell my little GBTC Roth allotment at $35 hoping to pick up $25. Should get there, given discount expansion, if BTC gets to $39,xxx.

  13. Buy now, wait until it reaches 47k tomorrow again. Sell. Rinse and repeat. Retirement soon. FA

  14. Looks like the Fed is going to pull the plug. Sorry moonbulls party is over for a while.

  15. Let me guess – the same visionaries who mistakenly thought that November’s crash from $68.8K was just a blip during some mythological “extended cycle” are currently thinking that the continued drop into the low $40s is a sure sign at last of some imminent return to glory.

    No new ATH until 2024. Halving cycles are still real.

  16. lol omg the price moved, it’s doom. Just accumulate if you hadn’t, pussies.

  17. Time to dust off the McDonald’s cap. Hopefully the boss has forgotten about the big Mac down his exhaust pipe.

  18. I should prob put my phone down but am chart watching out of morbid curiosity

  19. Tons of failed breakouts in the last year. My last hope is a failed breakdown occuring now. Back above 47k by end of week. 53k in early Feb

  20. Stock markets go up.
    Btc: Nah I’m good.
    Stock markets go down.
    Btc: Let me get my jacket.

  21. Finex 45k wall was psy ops as expected, just like 53k it got filled and then he opened a mega short. RIP those longing there.
    Goblin town here we come

  22. We also have a massive rising wedge, which is now breaking down:

    https://www.tradingview.com/x/4DrZzRcN/

  23. Surely no one here still thinks this is a bull market right?

    The wick will be tested. The next years direction will be determined by the response we get upon the retest.

    Break under with daily or a weekly close and it’s likely a year long bear.

    Survive the retest and bounce with vigour and hope remains for a great 22!

  24. Feels exactly like early 2018 and early 2014. Amazing how accurate this halving cycle pattern is. Different events each cycle to point to (China in 2013, China in 2018, China in 2021) but same price action.

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