[Belgrade Bobby]

BTC USD Bitcoin Daily

Seems as BTC is going for it…71.900 & 72.900 hurdles..

[Belgrade Bobby]

BTCUSD – Bitcoin Daily

Seems that lill coin is holding onto thin air right now…

Watch that support trend line below it…be careful, very very careful 😀

[Belgrade Bobby]

BTCUSD – Bitcoin

The price of Bitcoin appears to have returned to a choppy market condition, quashing any hopes of a breakout to new highs soon. However, the good news is that the current bull cycle may still not be over, even though it is taking a while for the premier cryptocurrency to resume its upward momentum.

Specifically, the latest on-chain observation shows that Bitcoin has been going through a “euphoria wave” over the past few months.

[Belgrade Bobby]

BTC Bitcoin Daily

Supports  68.350 , 67.300 , 65.390 &  56.990

Resistance  71.500 , 71.950 & 73.845

This might be a Top forming, but as long as it stays above 55.100 it is in the Upper channel and can continue pushing up.

[SF Monedge]

Monedge found the interview with the CEO of Strike this morning on Bloomberg television interesting.  His playing field is the crypto space.  He said, wearing a baseball cap and a tee shirt, he wants to “fix” the world and “fix” the monetary system and “do away with the dollar.”  The younger generation is rebellious and cute that way.  We would like to know how he intends to do that being that the crypto space is the very most attractive market in existence for international mob money, fraud, and deception at present in the infancy stages of the “asset.”

Monedge believes crypto has a bit of work to do first in upholding its sales pitch that it would be “impervious to fraud due to its structure.”  Right now it is a trading vehicle and nothing more.  Eventually there will be a regulated US crypto vehicle, a stablecoin type of vehicle.  Until then, it is a very incomplete engine leaking oil badly.  We bought Bitcoin at 20k and are waiting for 40k to be in again.  If it never sees 40k, so be it.  There is at present the US dollar and other actual currencies in which to participate.

[Belgrade Bobby]

BTC Daily

The LSE confirmed it would accept applications for bitcoin (BTC) and ether (ETH) products in the second quarter. The FCA introduced a ban on crypto derivatives products including ETPs in January 2020.2 hours ago

[Belgrade Bobby]

BTCUSD – Bitcoin Daily

Technical outlook

Major Resistance at 63250.00

Support at 61310.00

If support lost today, opens a way for 56300.00

This does not look good for the Bulls – look at the weekly chart – Fibo retracements

[SF Monedge]

I am impressed with the durability of Bitcoin to sustain waves of apprehension before and after the “halving.”  Enthusiasts were sure it would cause the not-yet viable instrument which is a not-yet viable asset to bolt to 100,000.  Seeing how the non-instrument is the most ripe non-instrument for fraud and crime, such as terrorist money being transferred without roadblocks, one might expect the next major case of fraud similar to the FTX matter to cause some strong decline into the 30,000 area.  Would like to see that as I would put money into it again down there if so.  At this point it appears the 50,000 area might hold for a while.

[GVI Forex 2]

A look at the day ahead in European and global markets from Kevin Buckland

The marquee markets event for the week is almost upon us, and needs little introduction: The outlook for U.S. interest rates continues to be the elephant in the trading room for all asset classes, responsible not only for recent peaks in Treasury yields and the dollar, but also forming the backdrop for record runs and subsequent declines in the likes of gold and bitcoin.

Morning Bid: Fed day focus is on what Jay says

[SF Monedge]

Bitcoin – I won’t consider buying until it gets into the 50’s or lower.  And since it is not actually a real asset I will cash in near the highs in the 70’s and call it good.  Until StableCoin becomes an actual regulated asset utilized on an increasingly widespread basis.  Bitcoin is a GenZ “I told you I was smarter than you grandpa” fad so far.  The leading source for fraud and criminal activity.  So after the buy cashes in I can wait for something real.

[GVI Forex 2]

BITCOIN HALVING EVENT TAKING PLACE TODAY EXPLAINED

1. 

BITCOIN HALVING EVENT

[SF Monedge]

Tonights military stikes against Iran and other countries is causing a high degree of volatility across the Usd, Gold, Oil, Treasuries, Stocks et al.  This could strongly affect the macro picture across the board over time.  It could even cause alternate items such as bitcoin.  Commodities as well.  Depending on severity.

[GVI Forex 2]

GBP dips after BOE Gov Bailey says he expects a sharp drop in next months inflation report.

Offsets from GBP crosses giving EURUSD a lift and seeing USDJPY dip while GBPUSD dips
_____________________

Bitcoin drops to test 60k – chart to follow later
—————————————————————

US stocks down

[GVI Forex 2]

XAUUSD 4 HOUR CHART – NEW HIGH

XAUUSD holding off an attempt at a retracement to set another record high. As I have been saying, with a void on top, the new high becomes key resistance.

Why> Perhaps some switching out of Bitcoin or just some risk-off flows.

On this chart, it needs to trade/hold above the former high (2266) to the new high at risk.

Key support is not a thought at 2228 as long as it stays above 2250.

[Belgrade Bobby]

USDJPY Monthly

This is NOT a Bitcoin, Nvidia or Gold…this is Yen (not Sparta definitely 😀

Mind you, all time High of Modern times is at 160.360

It is becoming kind of hilarious….a Small correction is like 1000 pips lower, and a decent one…well…how about 2.500 pips .

Trading it on anything bigger than half an hour chart takes some Cojones 😀

[SF Monedge]

Re TFT and others like it – Had a millennial friend who treated it like a video game.  Can’t trade but thinks he can, bitcoin will erase the US Dollar by end of 2030, little ears for professionals who have been around a while, won’t shut up about it.  Message to novices out there…this isn’t a game.  Use your head a bit better and it might turn out ok.

[SF Monedge]

That’s it for bitcoin at 72000, slippery slope ahead and you can bank on it.  Regulators and the split coming up in April.

[Mtl JP]

fun for some, not so much for some others
–
Bitcoin Drops After Flash Crash. Why Prices Could Keep Dropping.

as I have mentioned numerous times before … opinions are like ass-holes: everyone has one

[Belgrade Bobby]

OK, successfully counted the spread on Bitcoin – it is around 1.5% – in terms of EURUSD that would be 160 pips…full pips…no pipettes

[SF Monedge]

Read earlier that Claude Erb, a former commodities portfolio manager at TCW Group, plots bitcoin’s actual price over the past decade along with Erb’s application of Metcalfe’s Law with the result being a fair value of $35,000 for Bitcoin.

Side note, some ideas for orders I tried to post earlier but it would not post for some reason – buy side AudChf 5790 – Buy side AudCad 8900 – Sell side GbpChf 1260 – GbpUsd Buy side 2812 or lower – AudUsd buy side 6594 or lower – UsdJpy sell side 147.10 or higher –

[SF Monedge]

Knez does El Salvador Airlines take bitcoin? lol

[SF Monedge]

Frank – As long as the US Bank Index holds 3610 its all good.  Millennial crypto fanatics all over the net are hoping it means, and are sure it will, mean the end of the US Dollar and in April when Bitcoin halves they believe it will double in price almost immediately.  So they can tell mommy and daddy they are smarter than they were.  So, of course I got rid of all of my US Dollars and have zero cash and only bitcoins.  The problem is no one wants them when I want coffee.  What to do.

[GVI Forex 2]

BTC Daily Chart

When Bitcoin first was created I called it a Ponzi scheme. While I have not changed my mind about cryptos I would be an idiot to trade on that view given this rocket to the moon.

BTC rose about 4% to a new record high before backing off a touch but maintaining above the former record high (blue AT line).

By contrast, EURUSD has traded a 19 pip range so far today.

For the record, I do not trade BTC and have no intention of doing so.

[Frano Grgic]

BTC | Bitcoin Price Analysis Today 9.3.2024 | Bitcoin BTC Forecast #btcusd #bitcoin

[GVI Forex 2]

A look at the day ahead in European and global markets from Kevin Buckland

An underwhelming kick-off to China’s eagerly watched week-long annual parliament, the National People’s Congress, plus a weak Wall Street close overnight kept risk assets on the back foot on Tuesday, with the very notable exception of bitcoin.

Morning Bid: Risk rally on hold, bitcoin excepted

[SF Monedge]

GV – Reserve’s Bank Term Funding Program (BTFP) will sunset as planned on March 11, ending a program that helped calm the markets after last year’s collapses of Silicon Valley Bank and Signature Bank threatened a broader financial crisis.  Bitcoin is scheduled to “halve/split” in April.  The last time that transpired the not yet viable non-asset backed digital instrument doubled in price.  Investors should not look at BTC as an inflation hedge, but rather as a hedge against monetary debasement perhaps.  Personally, I am not jumping in at these levels in BTC.

[GVI Forex 2]

BTC MOnthly Chart

BTC (Bitcoin) relentless rise is now within spitting distance of its 68861 record high

THE SHARP MOVES UP IN GOLD AND BTC WHILE THE FOREX MARKET IS ON THE SIDELINES IS NOT A VOTE FOR FIAT CURRENCIES.

With that said, it is hard to suggest trading BTC from here as there should be no interest in standing in front of the BulletTrain but now dependent on the record high being taken out to move even higher.

[GVI Forex 2]

A look at the day ahead in European and global markets from Kevin Buckland

European investors are due for a super-sized helping of inflation data, with a side of bitcoin, on a day when Asian equities offered few trading cues and currencies were stable – with the notable exception of the Japanese yen.

Morning Bid: Inflation in focus, bitcoin buoyant

[GVI Forex 2]

FOMO being attributed to Bitcoin’s relentless risetgst topped $60,000 today)

FOMO = Fear Of Missing Out

[GVI Forex 2]

BTC Daily Chart

Bitcoin continues to make its relentless move higher, leaving the record 68915 level as the only one left on the upside.

To be clear, I do not trade cryptos but it is hard to ignore its meteoric rise this year, up over 12% in 2 days and around +35% this year. Imagine if one of the major currencies had moves like this?

So, I will just post the chart and follow up with a monthly chart.